Leases

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

15. Leases

As of March 31, 2023 and 2024, the Company has operating leases recorded on its consolidated balance sheet for certain office spaces and facilities that expire on various dates through 2027. The Company does not plan to cancel the existing lease agreements for its existing facilities prior to their respective expiration dates. When determining the lease term, the Company considers options to extend or terminate the lease when it is reasonably certain that it will exercise or not exercise that option. All of the Company’s leases qualify as operating leases.

	As of March 31,			As of March 31,
	2023			2024
	RMB			RMB
Assets
Operating lease right-of-use assets		22,354			8,951
Liabilities
Operating lease liabilities, current		9,220			5,613
Operating lease liabilities, non-current		12,741			3,115
Total operating lease liabilities		21,961			8,728
Weighted average remaining lease term (years)		2.77			1.65
Weighted average discount rate		5.38	%		4.93	%

Information related to operating lease activity during the years ended March 31, 2022, 2023 and 2024 are as follows:

	Year ended March 31, 2022		Year ended March 31, 2023		Year ended March 31, 2024
	RMB		RMB		RMB
Operating lease right-of-use assets obtained in exchange for lease obligations		21,038		8,384		4,545
Operating lease related expenses
Amortization of right-of-use assets		11,705		24,597		17,948
Interest of lease liabilities		1,949		1,777		199
		13,654		26,374		18,147

	Year ended March 31, 2022		Year ended March 31, 2023		Year ended March 31, 2024
	RMB		RMB		RMB
Operating lease payments (included in measurement of lease liabilities)		12,849		26,397		17,977

Maturities of lease liabilities were as follows:

	Year ended March 31, 2024
	RMB
For the year ending March 31,
2025	6,559
2026		2,808
2027		365
Total lease payments		9,732
Less: imputed interest		(1,004	)
Total		8,728