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

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows
 12 Months Ended
Mar. 31, 2014
USD ($)
Mar. 31, 2014
CNY
Mar. 31, 2013
CNY
Mar. 31, 2012
CNY
Cash flows from operating activities:        
Net income $ 4,387,817 27,276,435 23,207,990 55,841,470
Adjustments to reconcile net income to net cash provided by operating activities:        
Unrealized foreign currency exchange gain       (857,940)
Provision for (reversal of) doubtful accounts (601,350) (3,738,232) 9,140,062 2,350,990
Impairment of intangible assets 1,931,899 12,009,457    
Depreciation and amortization 1,730,000 10,754,370 10,617,534 11,278,264
Loss (gain) from disposal of property and equipment 69,114 429,642 (64,608) 4,067
Share-based compensation 1,694,696 10,534,910 12,874,056 12,264,397
Deferred income tax expense (benefit) (115,353) (717,083) (3,221,555) 1,149,668
Changes in operating assets and liabilities, net of effect of an acquisition:        
Restricted cash (434,335) (2,700,000)    
Accounts receivable (2,057,481) (12,790,125) 21,589,791 (37,143,965)
Income tax payable (280,527) (1,743,871) 12,564,291 (3,831,623)
Prepaid expenses and other current assets (21,249) (132,091) 786,842 (2,001,412)
Other assets (247,645) (1,539,462) 1,358,490 (1,465,719)
Accrued expenses and other payables (138,035) (858,078) (662,767) 14,255,685
Deferred revenues 89,745 557,888 (20,412,383) 7,508,984
Net cash provided by operating activities 6,007,296 37,343,760 67,777,743 59,352,866
Cash flows from investing activities :        
Cash paid for property and equipment (667,616) (4,150,169) (7,966,826) (5,367,648)
Cash receipt from property and equipment disposal 2,846 17,690   20,640
Payment for XingWei acquisition, net of cash acquired (1,580,771) (9,826,706)    
Net cash used in investing activities (2,245,541) (13,959,185) (7,966,826) (5,347,008)
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 (91,352) (567,881) (913,453)  
Cash paid for repurchase of common shares (21,319) (132,528) (329,357)  
Collection of receivable from shareholders       1,035,796
Special cash dividend     (25,331,341) (63,634,726)
Net cash used in financing activities (112,671) (700,409) (26,574,151) (61,967,086)
Effect of foreign exchange rate changes on cash (123,348) (766,783) (374,747) (2,929,270)
Net increase (decrease) in cash 3,525,736 21,917,383 32,862,019 (10,890,498)
Cash and cash equivalent at beginning of year 46,655,575 290,029,715 257,167,696 268,058,194
Cash and cash equivalent at end of year 50,181,311 311,947,098 290,029,715 257,167,696
Supplemental disclosures of cash flow information :        
Cash paid for income tax 3,633,979 22,590,270 3,920,712 17,267,282
Cash refunded for income tax (37,619) (233,853) (6,258,466) (246,245)
Non-cash investing and financing activities:        
Acquisition of property and equipment included in accrued expenses and other payables     1,841,182 349,090