| EARNINGS PER COMMON SHARE |
(19)EARNINGS PER COMMON SHARE
Basic and diluted earnings per common share are calculated as follows:
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Year Ended March 31,
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2014
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2015
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2016
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RMB
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RMB
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RMB
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Numerator:
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Net earnings
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27,276,435
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23,055,720
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26,051,187
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Less: Dividends paid to participating securities
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—
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(693,728
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)
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—
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Net earnings attributable to participating securities
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(509,201
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)
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—
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(130,924
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)
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Net earnings available to common shareholders
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26,767,234
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22,361,992
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25,920,263
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Denominator:
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Denominator for basic earnings per share:
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Weighted average common shares outstanding
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45,227,159
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45,597,580
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45,635,186
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Plus: Incremental shares issuable upon exercise of share options
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4,396
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—
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—
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Denominator for diluted earnings per share
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45,231,555
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45,597,580
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45,635,186
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Basic earnings per common share
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0.59
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0.49
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0.57
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Diluted earnings per common share
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0.59
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0.49
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0.57
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The following table summarizes potential common shares outstanding excluded from the calculation of diluted earnings per share for the years ended March 31, 2014, 2015 and 2016, because their effect is anti-dilutive:
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Year ended March 31,
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2014
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2015
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2016
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Shares issuable under share options
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3,914,667
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3,885,667
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1,904,067
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