Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Option Activity

The following table sets forth the share options activity for the years ended March 31, 2023 and 2024:

	Number of shares			Weighted average exercise price		Weighted average remaining contractual term		Aggregate intrinsic value		Weighted average fair value
				US$				US$		US$
Outstanding as of March 31, 2022		5,231,891			2.86		5.25		404		2.36
Exercisable as of March 31, 2022		-			-		-		-		-
Exercised		(53,488	)		0.60		-		-		2.26
Forfeited		(1,233,050	)		1.31		-		-		0.86
Outstanding as of March 31, 2023		3,945,354			2.58		3.45		124		2.06
Exercisable as of March 31, 2023		-			-		-		-		-
Granted		9,511,720			0.23		-		-		0.01
Exercised		(37,741	)		0.10		-		-		0.17
Forfeited		(3,031,811	)		3.40		-		-		3.44
Outstanding as of March 31, 2024		10,387,522			0.35		8.95		0		0.12
Exercisable as of March 31, 2024		-			-		-		-		-

Summary of Options Measured At Fair Value, Valuation Assumptions

The significant unobservable inputs adopted in the valuation as of March 31, 2023 and 2024 are as follows:

	As of March 31,			As of March 31,
	2023			2024
Spot price (US$)		5.90			5.90
Risk-free rate		3.83	%		4.91	%
Expected volatility		61.13	%		58.28	%
Expected expiry years (in years)		2.60			1.60

Employees and Non Employees [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Options Measured At Fair Value, Valuation Assumptions

The assumptions used to value the Company’s option grants for the year ended March 31, 2024 were as follows:

	Year ended March 31, 2024
Expected volatility	50.27%-53.83%
Risk-free interest rate	3.56%-4.04%
Exercise multiple	2.8/2.2
Expected dividend yield	0%
Contractual term (in years)	10