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

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows
 12 Months Ended
Mar. 31, 2013
USD ($)
Mar. 31, 2013
CNY
Mar. 31, 2012
CNY
Mar. 31, 2011
CNY
Cash flows from operating activities:        
Net income $ 3,736,716 23,207,990 55,841,470 19,754,016
Adjustments to reconcile net income to net cash provided by operating activities:        
Unrealized foreign currency exchange gain     (857,940) (1,778,813)
Provision for doubtful accounts 1,471,640 9,140,062 2,350,990 2,235,627
Write-down of inventories         2,033,211
Depreciation and amortization 1,709,528 10,617,534 11,278,264 13,635,560
Loss (gain) from disposal of property and equipment (10,403) (64,608) 4,067 125,893
Share-based compensation 2,072,850 12,874,056 12,264,397 4,651,971
Deferred income tax (benefit) expense (518,702) (3,221,555) 1,149,668 (3,891,524)
Changes in operating assets and liabilities:        
Accounts receivable 3,476,169 21,589,791 (37,143,965) 33,330,718
Income tax payable (receivable) 2,022,975 12,564,291 (3,831,623) 2,276,045
Inventories 9,791 60,809 (29,473) (262,900)
Prepaid expenses and other current assets 116,898 726,033 (1,971,939) 1,149,849
Other assets 218,730 1,358,490 (1,465,719)  
Accrued expenses and other payables (106,712) (662,767) 14,255,685 (3,856,480)
Deferred revenues (3,286,595) (20,412,383) 7,508,984 (7,304,694)
Net cash provided by operating activities 10,912,885 67,777,743 59,352,866 62,098,479
Cash flows from investing activities :        
Cash paid for property and equipment (1,282,738) (7,966,826) (5,367,648) (3,875,495)
Cash receipt from property and equipment disposal     20,640  
Net cash used in investing activities (1,282,738) (7,966,826) (5,347,008) (3,875,495)
Cash flows from financing activities :        
Proceeds from exercise of share options     631,844  
Cash paid for employee individual income tax for net-settlement of vested shares (147,075) (913,453)    
Cash paid for repurchase of common shares (53,030) (329,357)    
Collection of receivable from shareholders     1,035,796  
Special cash dividend (4,078,595) (25,331,341) (63,634,726)  
Net cash used in financing activities (4,278,700) (26,574,151) (61,967,086)  
Effect of foreign exchange rate changes on cash (60,338) (374,747) (2,929,270) (4,039,042)
Net increase (decrease) in cash 5,291,109 32,862,019 (10,890,498) 54,183,942
Cash at beginning of year 41,406,533 257,167,696 268,058,194 213,874,252
Cash at end of year 46,697,642 290,029,715 257,167,696 268,058,194
Supplemental disclosures of cash flow information :        
Cash paid for income tax 631,273 3,920,712 17,267,282 6,663,540
Cash refunded for income tax (1,007,675) (6,258,466) (246,245) (1,735,774)
Non-cash investing and financing activities:        
Acquisition of property and equipment included in accrued expenses and other payables 296,448 1,841,182 349,090 322,477
Receivable from shareholders for exercise of common share options       1,035,796