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

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET

12 Months Ended

Mar. 31, 2016

(7)INTANGIBLE ASSETS, NET

The following table summarizes the Company’s intangible assets, as of March 31, 2015 and 2016.

	March 31, 2015
							Weighted
	Gross	Accumulated				Net	Average
	carrying	amortization				carrying	Amortization
	amount	/deduction		Impairment		amount	Period
	RMB	RMB		RMB		RMB	Years
Customer relationships	1,300,000	(659,166	)	—		640,834	12
Training platform	422,700	(119,765	)	—		302,935	5
Contracts in progress (i)	1,225,380	(915,227	)	(310,153	)	—	—

Total intangible assets	2,948,080	(1,694,158	)	(310,153	)	943,769

	March 31, 2016
						Weighted
	Gross	Accumulated			Net	Average
	carrying	amortization			carrying	Amortization
	amount	/deduction		Impairment	amount	Period
	RMB	RMB		RMB	RMB	Years
Customer relationships	1,300,000	(767,500	)	—	532,500	12
Training platform	422,700	(204,305	)	—	218,395	5

Total intangible assets	1,722,700	(971,805	)	—	750,895

(i) Contracts in progress of RMB 569,087 and RMB 346,140 recognized at the acquisition date was deducted from the billing upon completion of certain contracts as of March 31, 2014 and 2015. The Company recognized an impairment charge of RMB 310,153 upon the cancellation of certain contracts during the year ended March 31, 2015.

Amortization expenses for intangible assets recognized as cost of revenues were RMB 2,359,475, RMB 192,873 and RMB 192,874 for the years ended March 31, 2014, 2015 and 2016, respectively.

As of March 31, 2016, the estimated amortization expense for the next five years is as follows:

		March 31
		RMB
2017		192,873
2018		192,873
2019		157,648
2020		108,333
2021		99,168