Annual and transition report of foreign private issuers pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows
12 Months Ended
Mar. 31, 2012
CNY
Mar. 31, 2011
CNY
Mar. 31, 2010
CNY
Mar. 31, 2012
USD
USD ($)
Cash flows from operating activities:        
Net income (loss) 55,841,470 19,754,016 (35,349,991) $ 8,867,244
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:        
Unrealized foreign currency exchange loss (gain) (857,940) (1,778,813) 89,294 (136,235)
Provision for doubtful accounts 2,350,990 2,235,627 27,052,862 373,321
Write-off of prepayments     5,478,250  
Write-down of inventories   2,033,211 85,897  
Depreciation and amortization 11,278,264 13,635,560 12,750,481 1,790,911
Loss from disposal of property and equipment 4,067 125,893   646
Share-based compensation 12,264,397 4,651,971 7,495,718 1,947,503
Deferred income tax benefit (expense) 1,149,668 (3,891,524) (287,906) 182,559
Changes in operating assets and liabilities:        
Accounts receivable (37,143,965) 33,330,718 (38,876,128) (5,898,208)
Income tax payable (receivable) (3,831,623) 2,276,045 (3,789,803) (608,436)
Inventories (29,473) (262,900) 86,143 (4,680)
Prepaid expenses and other current assets (1,971,939) 1,149,849 1,200,882 (313,130)
Other assets (1,465,719)   (326,147) (232,746)
Accrued expenses and other payables 14,255,685 (3,856,480) 11,778,603 2,263,706
Deferred revenues 7,508,984 (7,304,694) (15,353,375) 1,192,375
Net cash provided by (used in) operating activities 59,352,866 62,098,479 (27,965,220) 9,424,830
Cash flows from investing activities :        
Cash paid for property and equipment (5,367,648) (3,875,495) (59,357,111) (852,345)
Cash receipt from property and equipment disposal 20,640     3,277
Payment for JDX acquisition     (2,305,553)  
Net cash used in investing activities (5,347,008) (3,875,495) (61,662,664) (849,068)
Cash flows from financing activities :        
Proceeds from exercise of share options 631,844     100,333
Cash paid for repurchase of common shares     (11,896,328)  
Collection of receivable from shareholders 1,035,796   5,226,173 164,477
Special cash dividend (63,634,726)     (10,104,760)
Net cash used in financing activities (61,967,086)   (6,670,155) (9,839,950)
Effect of foreign exchange rate changes on cash (2,929,270) (4,039,042) (330,780) (465,149)
Net increase(decrease) in cash (10,890,498) 54,183,942 (96,628,819) (1,729,337)
Cash at beginning of year 268,058,194 213,874,252 310,503,071 42,565,811
Cash at end of year 257,167,696 268,058,194 213,874,252 40,836,474
Supplemental disclosures of cash flow information :        
Net cash paid for income tax 17,021,037 4,927,766 9,819,855 2,702,824
Non-cash investing and financing activities:        
Acquisition of property and equipment included in accrued expenses and other payables 349,090 322,477 574,892 55,433
Deposit included in other assets applied to the acquisition of property and equipment     400,000  
Receivable from shareholders for exercise of common share options   1,035,796