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

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

v3.8.0.1
GOODWILL AND INTANGIBLE ASSETS, NET (Tables)
9 Months Ended
Dec. 31, 2017
GOODWILL AND INTANGIBLE ASSETS, NET  
Schedule of change in the carrying amount of goodwill

 

 

 

RMB

 

 

 

 

 

Balance as of April 1, 2016

 

31,011,902

 

Acquisition of Puhua Technology (Note 23)

 

1,512,081

 

Balance as of March 31, 2017

 

32,523,983

 

Disposal of Puhua Technology

 

(1,512,081

)

Acquisition of Qihuang Huizhi (Note 23)

 

997,123

 

 

 

 

 

Balance as of December 31, 2017

 

32,009,025

 

 

 

 

 

 

Summary of Company's intangible assets

 

 

 

March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

Gross

 

Accumulated

 

 

 

Net

 

average

 

 

 

carrying

 

amortization

 

 

 

carrying

 

amortization

 

 

 

amount

 

/deduction

 

Impairment

 

amount

 

period

 

 

 

RMB

 

RMB

 

RMB

 

RMB

 

Years

 

Customer relationships

 

1,300,000

 

(875,832

)

 

424,168

 

12

 

Training platform

 

422,700

 

(288,845

)

 

133,855

 

5

 

Royalty arrangement (i)

 

8,000,000

 

(1,200,000

)

 

6,800,000

 

5

 

Education assessment test caseware (ii)

 

4,177,358

 

(208,868

)

 

3,968,490

 

5

 

 

 

 

 

 

 

 

 

 

 

 

 

Total intangible assets

 

13,900,058

 

(2,573,545

)

 

11,326,513

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

Gross

 

Accumulated

 

 

 

Net

 

average

 

 

 

carrying

 

amortization

 

 

 

carrying

 

amortization

 

 

 

amount

 

/deduction

 

Impairment

 

amount

 

period

 

 

 

RMB

 

RMB

 

RMB

 

RMB

 

Years

 

Customer relationships

 

1,300,000

 

(957,082

)

 

342,918

 

12

 

Training platform

 

422,700

 

(352,250

)

 

70,450

 

5

 

Royalty arrangement (i)

 

8,000,000

 

(2,400,000

)

 

5,600,000

 

5

 

Education assessment test caseware (ii)

 

6,707,547

 

(961,982

)

 

5,745,565

 

5

 

ACT license (iii)

 

14,919,647

 

(994,643

)

 

13,925,004

 

5

 

 

 

 

 

 

 

 

 

 

 

 

 

Total intangible assets

 

31,349,894

 

(5,665,957

)

 

25,683,937

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(i) Royalty arrangement represents the exclusive right the Group authorized to launch the online education services for professionals who have obtained their qualification certificates with China Banking Association for five years.

 

(ii) Education assessment test caseware is the test content purchased for the Company’s strategic K-12 academic assessment business, which includes three subjects of Literature, Mathematics and English over six grades of junior and senior high school.

 

(iii) ACT license represents the exclusive right the Group was authorized by ACT to provide a variety of ACT test preparation measures to students in China for five years.

 

Schedule of estimated amortization expense

 

 

 

December 31

 

 

 

RMB

 

2018

 

6,104,222

 

2019

 

6,033,772

 

2020

 

6,033,772

 

2021

 

5,143,358

 

2022

 

2,368,813