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

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET

9 Months Ended

Dec. 31, 2017

(3) ACCOUNTS RECEIVABLE, NET

Accounts receivable, net is summarized as follows:

	March 31, 2017		December 31, 2017
	RMB		RMB
Accounts receivable	61,560,981		103,059,565
Less: allowance for doubtful accounts	(5,399,726	)	(2,954,538	)

Accounts receivable, net	56,161,255		100,105,027

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, 2016, 2017 and nine months ended December 31, 2017 is as follows:

	Twelve months ended March 31,			Nine months ended December 31,
	2016		2017	2017
	RMB		RMB	RMB
Beginning allowance for doubtful accounts	5,003,118		4,875,266	5,399,726
Additions charged to (reversal of) provision for doubtful accounts	(127,852	)	524,460	1,363,506
Write-off of accounts receivable	—		—	(3,808,694	)

Ending allowance for doubtful accounts	4,875,266		5,399,726	2,954,538

- 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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