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

FAIR VALUE MEASUREMENT (Tables)

v3.8.0.1
FAIR VALUE MEASUREMENT (Tables)
9 Months Ended
Dec. 31, 2017
FAIR VALUE MEASUREMENT  
Schedule of the placement in the fair value hierarchy of assets that are measured at fair value on a recurring basis

 

 

 

 

 

 

Fair value disclosure or measurement at
March 31, 2017 using

 

 

 

March 31, 2017

 

Level 1

 

Level 2

 

Level 3

 

 

 

RMB

 

RMB

 

RMB

 

RMB

 

Available-for-sale investment:

 

 

 

 

 

 

 

 

 

Convertible promissory note

 

10,376,547

 

 

 

10,376,547

 

 

 

 

 

 

Fair value disclosure or measurement at
December 31, 2017 using

 

 

 

December 31, 2017

 

Level 1

 

Level 2

 

Level 3

 

 

 

RMB

 

RMB

 

RMB

 

RMB

 

Available-for-sale investment:

 

 

 

 

 

 

 

 

 

Convertible promissory note

 

 

 

 

 

 

Schedule of significant inputs for the valuation model based on the fair value of invested capital evaluated by an income approach

 

 

 

Year Ended March 31, 2017

 

Total fair value of underlying asset as at valuation date

 

 

 

USD 12,000,000

 

Risk free rate of interest

 

For the March 30, 2016 Note

 

1.02

%

 

 

For the April 28, 2016 Note

 

1.04

%

Maturity Date

 

For the March 30, 2016 Note

 

2018/3/30

 

 

For the April 28, 2016 Note

 

2018/4/28

Volatility

 

For the March 30, 2016 Note

 

35.22

%

 

 

For the April 28, 2016 Note

 

36.10

%

 

Schedule of roll-forward of the fair value of Level 3 (significant unobservable inputs) assets

 

 

 

 

Convertible promissory note

 

 

 

RMB

 

Beginning balance as of April 1, 2016

 

1,938,360

 

Purchase

 

7,957,440

 

Total gain or losses:

 

 

 

Included in net loss

 

568,320

 

Included in other comprehensive income

 

(553,870

)

Foreign currency translation adjustment

 

466,297

 

 

 

 

 

Ending balance as of March 31, 2017

 

10,376,547

 

 

 

 

 

Total gain or losses:

 

 

 

Included in net income

 

(10,458,538

)

Reclassification adjustment for loss on available-for-sale investment included in net income, net of nil income tax

 

553,870

 

Foreign currency translation adjustment

 

(471,879

)

 

 

 

 

Ending balance as of December 31, 2017