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

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET

12 Months Ended

Mar. 31, 2014

(3) ACCOUNTS RECEIVABLE, NET

Accounts receivable, net is summarized as follows:

	March 31,
	2013		2014
	RMB		RMB
Accounts receivable	86,119,787		73,041,508
Less: allowance for doubtful accounts	(35,005,069	)	(4,688,433	)
Accounts receivable, net	51,114,718		68,353,075

Management performs ongoing credit evaluations of its customers’ financial condition and generally does not require collateral on accounts receivable.

The activity in the allowance for doubtful accounts for accounts receivable for the years ended March 31, 2012, 2013 and 2014 is as follows:

	Year Ended March 31,
	2012		2013		2014
	RMB		RMB		RMB
Beginning allowance for doubtful accounts	27,938,198		30,100,005		35,005,069
Additions charged to (reversal of) provision for doubtful accounts	2,350,990		9,140,062		(3,738,232	)
Write-off of accounts receivable	(189,183	)	(4,234,998	)	(26,578,404	)
Ending allowance for doubtful accounts	30,100,005		35,005,069		4,688,433

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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