FAIR VALUE MEASUREMENT - Assumptions (Details) |
12 Months Ended |
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Mar. 31, 2017
CNY (¥)
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| Aggregate fair value | ¥ 10,376,547 |
| Income approach | |
| Aggregate fair value | ¥ 12,000,000.00 |
| Discount rate | 26.00% |
| Convertible promissory note, March 30, 2016 Note | Income approach | |
| Risk free rate of interest | 1.02% |
| Volatility | 35.22% |
| Convertible promissory note, April 28, 2016 Note | Income approach | |
| Risk free rate of interest | 1.04% |
| Volatility | 36.10% |
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- Definition Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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