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

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows
 12 Months Ended
Mar. 31, 2015
USD ($)
Mar. 31, 2015
CNY (¥)
Mar. 31, 2014
CNY (¥)
Mar. 31, 2013
CNY (¥)
Cash flows from operating activities:        
Net income $ 3,719,265 ¥ 23,055,720 ¥ 27,276,435 ¥ 23,207,990
Adjustments to reconcile net income to net cash provided by operating activities:        
Provision for (reversal of) doubtful accounts 136,468 845,965 (3,738,232) 9,140,062
Impairment of intangible assets 50,033 310,153 12,009,457 0
Depreciation and amortization 1,223,389 7,583,790 10,754,370 10,617,534
Loss (gain) from disposal of property and equipment 118 734 429,642 (64,608)
Share-based compensation 1,147,171 7,111,316 10,534,910 12,874,056
Deferred income tax expense (benefit) (137,069) (849,689) (717,083) (3,221,555)
Share of losses of equity method investments 354,372 2,196,750    
Foreign currency exchange loss 160,856 997,149    
Changes in operating assets and liabilities, net of effect of an acquisition:        
Restricted cash 435,554 2,700,000 (2,700,000)  
Accounts receivable 3,122,611 19,357,064 (12,790,125) 21,589,791
Income tax payable (1,816,229) (11,258,806) (1,743,871) 12,564,291
Prepaid expenses and other current assets (144,194) (893,856) (132,091) 786,842
Other assets (1,221,836) (7,574,162) (1,539,462) 1,358,490
Accrued expenses and other payables (1,719,254) (10,657,651) (858,078) (662,767)
Deferred revenues 2,085,459 12,927,758 557,888 (20,412,383)
Net cash provided by operating activities 7,396,714 45,852,235 37,343,760 67,777,743
Cash flows from investing activities :        
Cash paid for property and equipment (2,393,300) (14,836,069) (4,150,169) (7,966,826)
Cash receipt from property and equipment disposal 4,919 30,490 17,690  
Payment for XingWei acquisition, net of cash acquired     (9,826,706)  
Cash paid for equity method investments (6,122,578) (37,953,864)    
Net cash used in investing activities (8,510,959) (52,759,443) (13,959,185) (7,966,826)
Cash flows from financing activities :        
Cash paid for employee individual income tax for net-settlement of vested shares (137,668) (853,404) (567,881) (913,453)
Cash paid for repurchase of common shares (1,348,949) (8,362,136) (132,528) (329,357)
Proceeds from exercise of share options 629,771 3,903,952    
Special cash dividend (9,412,667) (58,349,122)   (25,331,341)
Net cash used in financing activities (10,269,513) (63,660,710) (700,409) (26,574,151)
Effect of foreign exchange rate changes on cash (174,836) (1,083,809) (766,783) (374,747)
Net increase (decrease) in cash (11,558,594) (71,651,727) 21,917,383 32,862,019
Cash and cash equivalents at beginning of year 50,322,164 311,947,098 290,029,715 257,167,696
Cash and cash equivalents at end of year 38,763,570 240,295,371 311,947,098 290,029,715
Supplemental disclosures of cash flow information :        
Cash paid for income tax 3,727,174 23,104,750 22,590,270 3,920,712
Cash refunded for income tax (229,248) (1,421,109) ¥ (233,853) (6,258,466)
Non-cash investing and financing activities:        
Acquisition of property and equipment included in accrued expenses and other payables $ 23,573 ¥ 146,126   ¥ 1,841,182