v3.26.1
Investments (Tables)
12 Months Ended
Mar. 31, 2026
Summary of Long Term Investments

The Company’s long-term investments consist of the following:

 

As of March 31,

 

 

2025

 

 

2026

 

 

RMB

 

 

RMB

 

Available-for-sale debt securities

 

 

 

 

 

 

Jimi

 

 

5,459

 

 

 

3,632

 

iSNOB

 

 

—

 

 

 

—

 

Juesekuangxiang

 

 

—

 

 

 

—

 

Jiangxi Chengqianqihou

 

 

—

 

 

 

—

 

Others

 

 

2,296

 

 

 

1,936

 

 

 

7,755

 

 

 

5,568

 

Equity securities without readily determinable fair value

 

 

 

 

 

 

Target Company

 

 

—

 

 

 

100,000

 

 

 

 

—

 

 

 

100,000

 

Equity method investments

 

 

 

 

 

 

Jiaxing Neixiangyoupan Equity investment Fund Partnership
   (limited partnership) (“Neixiangyoupan”)

 

 

25,417

 

 

 

24,455

 

Hangzhou Chengqianqihou Food Supply Chain Co., Ltd. (“Hangzhou Chengqianqihou”)

 

 

8,750

 

 

 

8,743

 

Ruisha Technology

 

 

—

 

 

 

16,546

 

Others

 

 

8,049

 

 

 

9,696

 

 

 

42,216

 

 

 

59,440

 

Total

 

 

49,971

 

 

 

165,008

 

Schedule of Available-for-sale Debt Securities

The following table summarizes, by major security type, the Company’s available-for-sale debt securities as of March 31, 2025 and 2026:

 

As of March 31,

 

 

2025

 

 

2026

 

 

RMB

 

 

RMB

 

Cost

 

 

8,459

 

 

 

8,459

 

Unrealized losses, including foreign exchange adjustment

 

 

(704

)

 

 

(783

)

Impairment losses

 

 

—

 

 

 

(2,108

)

Fair Value

 

 

7,755

 

 

 

5,568