|
INCOME TAXES (Tables)
|
12 Months Ended |
|
Mar. 31, 2013
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| INCOME TAXES |
|
| Schedule of earnings before income taxes generated in jurisdictions |
|
|
|
Year Ended March 31,
|
|
|
|
|
2011
|
|
2012
|
|
2013
|
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
Cayman Islands and British Virgin Islands
|
|
(11,433,911
|
)
|
(15,598,329
|
)
|
(19,373,510
|
)
|
|
PRC
|
|
34,500,214
|
|
85,778,881
|
|
49,586,482
|
|
|
Earnings before income taxes
|
|
23,066,303
|
|
70,180,552
|
|
30,212,972
|
|
|
| Schedule of income tax expense (benefit) |
|
|
|
Year Ended March 31,
|
|
|
|
|
2011
|
|
2012
|
|
2013
|
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
PRC
|
|
|
|
|
|
|
|
|
Current expense
|
|
7,203,811
|
|
13,189,414
|
|
10,226,537
|
|
|
Deferred (benefit) expense
|
|
(3,891,524
|
)
|
1,149,668
|
|
(3,221,555
|
)
|
|
Total income tax expense
|
|
3,312,287
|
|
14,339,082
|
|
7,004,982
|
|
|
| Schedule of difference between actual income tax expense and amount computed by applying the PRC statutory income tax rate to earnings before income taxes |
|
|
|
Year Ended March 31,
|
|
|
|
|
2011
|
|
2012
|
|
2013
|
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
Computed “expected” income tax expense
|
|
5,766,576
|
|
17,545,138
|
|
7,553,243
|
|
|
Decrease in valuation allowance
|
|
(1,379,408
|
)
|
(2,035,788
|
)
|
(735,773
|
)
|
|
Preferential income tax rate
|
|
(4,486,178
|
)
|
(8,301,350
|
)
|
(7,069,673)
|
|
|
Entities not subject to income tax
|
|
1,695,485
|
|
833,483
|
|
1,624,864
|
|
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Non-deductible expenses
|
|
|
|
|
|
|
|
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Entertainment
|
|
1,308,601
|
|
1,344,639
|
|
1,213,569
|
|
|
Share-based compensation
|
|
1,162,993
|
|
3,066,099
|
|
3,218,514
|
|
|
Bad debt loss
|
|
—
|
|
47,296
|
|
1,058,750
|
|
|
Changes in tax rates
|
|
—
|
|
2,032,901
|
|
429,667
|
|
|
Tax rate differential
|
|
(1,503,124
|
)
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(53,254
|
)
|
1,977,043
|
|
|
Prior year tax return true up
|
|
450,139
|
|
—
|
|
—
|
|
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Additional deduction of research and development costs
|
|
—
|
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(371,754
|
)
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(2,309,671
|
)
|
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Other
|
|
297,203
|
|
231,672
|
|
44,449
|
|
|
Actual income tax expense
|
|
3,312,287
|
|
14,339,082
|
|
7,004,982
|
|
|
| Schedule of components of deferred income tax assets and liabilities |
|
|
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March 31,
|
|
|
|
|
2012
|
|
2013
|
|
|
|
|
RMB
|
|
RMB
|
|
|
Deferred income tax assets:
|
|
|
|
|
|
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Tax loss carryforwards
|
|
479,411
|
|
2,876,488
|
|
|
Property and equipment, net
|
|
1,859,136
|
|
1,709,276
|
|
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Allowance for doubtful accounts
|
|
912,399
|
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1,592,868
|
|
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Write-down of inventories
|
|
579,644
|
|
317,163
|
|
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Accrued expenses and other payables
|
|
4,021,629
|
|
3,796,164
|
|
|
Total gross deferred income tax assets
|
|
7,852,219
|
|
10,291,959
|
|
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Less: valuation allowance
|
|
(1,657,524
|
)
|
(921,751
|
)
|
|
Net deferred income tax assets
|
|
6,194,695
|
|
9,370,208
|
|
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Deferred income tax liabilities:
|
|
|
|
|
|
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Intangible assets acquired in JDX acquisition:
|
|
|
|
|
|
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Customer relationships
|
|
241,494
|
|
195,452
|
|
|
Total gross deferred income tax liabilities
|
|
241,494
|
|
195,452
|
|
|
Net deferred income tax assets
|
|
5,953,201
|
|
9,174,756
|
|
|
| Schedule of current and non-current deferred income tax assets and liabilities |
|
|
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March 31,
|
|
|
|
|
2012
|
|
2013
|
|
|
|
|
RMB
|
|
RMB
|
|
|
Current deferred income tax assets, included in prepaid expenses and other current assets
|
|
4,233,996
|
|
7,524,161
|
|
|
Non-current deferred income tax assets, included in other assets
|
|
1,859,136
|
|
1,709,276
|
|
|
Non-current deferred income tax liabilities
|
|
(139,931
|
)
|
(58,681
|
)
|
|
Net deferred income tax assets
|
|
5,953,201
|
|
9,174,756
|
|
|