Boqii Holding Limited (BQ) 20-F 29 Oct 24 2024 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Mar. 31, 2024 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Information [Line Items]
Entity Registrant Name	BOQII HOLDING LIMITED
Entity Central Index Key	0001815021
Entity File Number	001-39547
Entity Incorporation, State or Country Code	E9
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	Building 9, No. 388, Shengrong Road
Entity Address, Address Line Two	Pudong New District
Entity Address, City or Town	Shanghai
Entity Address, Country	CN
Entity Address, Postal Zip Code	201210
American Depositary Shares
Entity Listings [Line Items]
Title of 12(b) Security	American depositary shares, each ADS represents fifteen (15) Class A ordinary shares, par value US$0.001 per share
Trading Symbol	BQ
Security Exchange Name	NYSEAMER
Class A Ordinary Shares
Entity Listings [Line Items]
Title of 12(b) Security	Class A ordinary shares, par value US$0.001 per share
No Trading Symbol Flag	true
Security Exchange Name	NYSEAMER
Entity Common Stock, Shares Outstanding	147,691,753
Class B Ordinary Shares
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding	13,037,729
Business Contact [Member]
Entity Contact Personnel [Line Items]
Contact Personnel Name	Yingzhi (Lisa) Tang
Contact Personnel Email Address	lisa@boqii.com
Entity Address, Address Line One	Building 9, No. 388, Shengrong Road
Entity Address, Address Line Two	Pudong New District
Entity Address, City or Town	Shanghai
Entity Address, Country	CN
Entity Address, Postal Zip Code	201210
Entity Phone Fax Numbers [Line Items]
City Area Code	86
Local Phone Number	21-6109-6226

Audit Information

Audit Information	12 Months Ended
	Mar. 31, 2024
Auditor [Table]
Auditor Name	Assentsure PAC
Auditor Firm ID	6783
Auditor Location	Singapore

Consolidated Balance Sheets

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 72,722	$ 10,072	¥ 89,850
Short-term investments			69,797
Accounts receivable, net	50,118	6,941	76,742
Inventories, net	55,189	7,644	81,052
Prepayments and other current assets	94,518	13,090	79,359
Amounts due from related parties	5,704	790	9,379
Total current assets	278,251	38,537	406,179
Non-current assets:
Property and equipment, net	3,103	430	5,492
Intangible assets	17,910	2,481	21,594
Operating lease right-of-use assets	8,951	1,240	22,354
Long-term investments	65,887	9,126	75,607
Goodwill
Amounts due from related parties, non-current	5,658	784	2,988
Other non-current asset	3,455	479	6,586
Total non-current assets	104,964	14,540	134,621
Total assets	383,215	53,077	540,800
Current liabilities
Short-term borrowings (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB363 and RMB10,213 as of March 31, 2023 and 2024, respectively)	15,213	2,107	86,261
Accounts payable (including accounts payable of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB13,459 and RMB2,279 as of March 31, 2023 and 2024, respectively)	24,279	3,363	56,022
Salary and welfare payable (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB5,573 and RMB440 as of March 31, 2023 and 2024, respectively)	2,972	412	6,890
Accrued liabilities and other current liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB15,712 and RMB6,759 as of March 31, 2023 and 2024, respectively)	16,667	2,308	22,104
Amounts due to related parties, current (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB21 and Nil as of March 31, 2023 and 2024, respectively)			471
Contract liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB4,471 and RMB1,579 as of March 31, 2023 and 2024, respectively)	1,579	219	4,471
Operating lease liabilities, current (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB9,207 and RMB5,254 as of March 31, 2023 and 2024, respectively)	5,613	777	9,220
Derivative liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2023 and 2024, respectively)	5,721	792	10,701
Total current liabilities	72,044	9,978	196,140
Non-current liabilities
Deferred tax liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2023 and 2024, respectively)	3,234	448	4,141
Operating lease liabilities, non-current (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB12,741 and RMB2,209 as of March 31, 2023 and 2024, respectively)	3,115	431	12,741
Other debts, non-current (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB75,481 and RMB11,500 as of March 31, 2023 and 2024, respectively)	43,941	6,086	102,827
Total non-current liabilities	50,290	6,965	119,709
Total liabilities	122,334	16,943	315,849
Commitments and contingencies (Note 28)
Mezzanine equity:
Redeemable non-controlling interests	7,963	1,103	7,197
Total mezzanine equity	7,963	1,103	7,197
Shareholders’ equity:
Additional paid-in capital	3,329,675	461,156	3,287,696
Statutory reserves	3,876	537	3,876
Accumulated other comprehensive loss	(39,478)	(5,468)	(37,189)
Accumulated deficit	(3,060,405)	(423,861)	(2,993,150)
Receivable for issuance of ordinary shares	(16,031)	(2,220)	(83,405)
Total Boqii Holding Limited shareholders’ equity	218,681	30,289	178,283
Non-controlling interests	34,237	4,742	39,471
Total shareholders’ equity	252,918	35,031	217,754
Total liabilities, mezzanine equity and shareholders’ equity	383,215	53,077	540,800
Class A Ordinary Shares
Shareholders’ equity:
Ordinary shares	962	134	373
Class B Ordinary Shares
Shareholders’ equity:
Ordinary shares	¥ 82	$ 11	¥ 82

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥) shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2023 CNY (¥) shares	Mar. 31, 2023 $ / shares
Short-term borrowings	¥ 15,213	$ 2,107	¥ 86,261
Accounts payable	24,279	3,363	56,022
Salary and welfare payable	2,972	412	6,890
Accrued liabilities and other current liabilities	16,667	2,308	22,104
Amounts due to related parties, current			471
Contract liabilities	1,579	219	4,471
Operating lease liabilities, current	5,613	777	9,220
Derivative liabilities	5,721	792	10,701
Deferred tax liabilities	3,234	448	4,141
Operating lease liabilities, non-current	3,115	431	12,741
Other debts, non-current	43,941	$ 6,086	102,827
Variable Interest Entity, Primary Beneficiary
Short-term borrowings	10,213		363
Accounts payable	2,279		13,459
Salary and welfare payable	440		5,573
Accrued liabilities and other current liabilities	6,759		15,712
Contract liabilities	1,579		4,471
Operating lease liabilities, current	5,254		9,207
Derivative liabilities
Deferred tax liabilities
Operating lease liabilities, non-current	2,209		12,741
Other debts, non-current	11,500		75,481
Variable Interest Entity, Primary Beneficiary | Related Party
Amounts due to related parties, current			¥ 21
Class A Ordinary Shares
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares				$ 0.001
Common Stock, Shares Authorized (in Shares) | shares	15,000,000,000	15,000,000,000	129,500,000
Common Stock, Shares, Issued (in Shares) | shares	147,691,753	147,691,753	55,763,079
Common Stock, Shares, Outstanding (in Shares) | shares	147,691,753	147,691,753	55,763,079
Class B Ordinary Shares
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares				$ 0.001
Common Stock, Shares Authorized (in Shares) | shares	2,000,000,000	2,000,000,000	15,000,000
Common Stock, Shares, Issued (in Shares) | shares	13,037,729	13,037,729	13,037,729
Common Stock, Shares, Outstanding (in Shares) | shares	13,037,729	13,037,729	13,037,729

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss ¥ in Thousands, $ in Thousands		12 Months Ended
		Mar. 31, 2024 CNY (¥) ¥ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 CNY (¥) ¥ / shares shares	Mar. 31, 2022 CNY (¥) ¥ / shares shares
Net revenues:
Total revenues		¥ 709,352	$ 98,244	¥ 1,092,094	¥ 1,186,429
Total cost of revenue		(568,615)	(78,752)	(858,608)	(943,698)
Gross profit		140,737	19,492	233,486	242,731
Operating expenses:
Fulfillment expenses		(59,506)	(8,241)	(126,295)	(134,026)
Sales and marketing expenses		(85,091)	(11,785)	(124,007)	(170,986)
General and administrative expenses		(59,265)	(8,208)	(46,554)	(76,248)
Impairment of goodwill				(40,684)
Other income, net		2,966	411	286	280
Loss from operations		(60,159)	(8,331)	(103,768)	(138,249)
Interest income		2,638	366	7,420	15,477
Interest expense		(7,326)	(1,015)	(13,350)	(20,884)
Other gains, net		(3,994)	(553)	5,159	6,020
Fair value change of derivative liabilities		(1,034)	(143)	(2,266)	2,824
Loss before income tax expenses		(69,875)	(9,676)	(106,805)	(134,812)
Income tax benefit		927	128	911	1,571
Share of results of equity investees		50	7	(82)	418
Net loss		(68,898)	(9,541)	(105,976)	(132,823)
Less: Net loss attributable to the non-controlling interest shareholders		(5,234)	(724)	(3,177)	(4,433)
Net loss attributable to Boqii Holding Limited		(63,664)	(8,817)	(102,799)	(128,390)
Accretion on redeemable non-controlling interests to redemption value		(766)	(106)	(675)	(575)
Net loss attributable to Boqii Holding Limited’s ordinary shareholders		(64,430)	(8,923)	(103,474)	(128,965)
Other comprehensive income (loss):
Foreign currency translation adjustment, net of Nil tax		1,258	174	15,591	(16,529)
Unrealized securities holding losses		(3,547)	(491)	(6,711)	(9,368)
Total comprehensive loss		(71,187)	(9,858)	(97,096)	(158,720)
Less: Total comprehensive loss attributable to non- controlling interests shareholders		(5,234)	(724)	(3,177)	(4,433)
Total comprehensive loss attributable to Boqii Holding Limited		¥ (65,953)	$ (9,134)	¥ (93,919)	¥ (154,287)
Net loss per share attributable to Boqii Holding Limited’s ordinary shareholders
Basic (in Dollars per share and Yuan Renminbi per share) | (per share)		¥ (0.64)	$ (0.09)	¥ (1.5)	¥ (1.9)
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share)		¥ (0.64)	$ (0.09)	¥ (1.5)	¥ (1.9)
Weighted average number of ordinary shares
Basic (in Shares)	[1]	100,637,760	100,637,760	68,858,823	68,006,172
Diluted (in Shares)	[1]	100,637,760	100,637,760	68,858,823	68,006,172
Product sales
Net revenues:
Total revenues		¥ 680,143	$ 94,199	¥ 1,048,491	¥ 1,137,329
Online marketing and information services and other revenue
Net revenues:
Total revenues		¥ 29,209	$ 4,045	¥ 43,603	¥ 49,100
[1]Options exercisable for a minimal exercise price (the “Penny Stock”) are included in the denominator of basic loss per share calculation once there are no further vesting conditions or contingencies associated with them, as they are considered issuable shares. Basic net loss per share is computed using the weighted average number of ordinary shares outstanding and the Penny Stock during the reporting periods. Diluted net loss per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding and the Penny Stock during the reporting periods.

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity ¥ in Thousands, $ in Thousands	Adjusted Ordinary Shares Class A CNY (¥) shares	Adjusted Ordinary Shares Class B CNY (¥) shares	Adjusted Additional Paid-in Capital CNY (¥)	Adjusted Statutory reserves CNY (¥)	Adjusted Accumulated other comprehensive loss CNY (¥)	Adjusted Accumulated deficit CNY (¥)	Adjusted Non- controlling interests CNY (¥)	Adjusted Receivable for issuance of ordinary shares CNY (¥)	Adjusted CNY (¥)	Ordinary Shares Class A CNY (¥) shares	Ordinary Shares Class B CNY (¥) shares	Additional Paid-in Capital CNY (¥)	Statutory reserves CNY (¥)	Accumulated other comprehensive loss CNY (¥)	Accumulated deficit CNY (¥)	Non- controlling interests CNY (¥)	Receivable for issuance of ordinary shares CNY (¥)	CNY (¥) shares	USD ($) shares
Balances at Mar. 31, 2021										¥ 364	¥ 82	¥ 3,272,612	¥ 3,047	¥ (20,172)	¥ (2,759,882)	¥ 45,019	¥ (413,377)	¥ 127,693
Balances (in Shares) at Mar. 31, 2021 | shares										54,505,108	13,037,729
Foreign currency translation adjustment														(16,529)				(16,529)
Accretion on redeemable non-controlling interests to redemption value															(575)			(575)
Receivable for issuance of ordinary shares (Note 22)																	248,631	248,631
Unrealized securities holding losses, net of tax														(9,368)				(9,368)
Acquisition of a subsidiary																1,817		1,817
Issuance of ordinary shares for the exercise of stock options										¥ 8		8,315						8,323
Issuance of ordinary shares for the exercise of stock options (in Shares) | shares										1,204,483
Capital contribution from non-controlling interests																245		245
Appropriations to statutory reserves													386		(386)
Share-based compensation												14,409						14,409
Net loss															(128,390)	(4,433)		(132,823)
Balances at Mar. 31, 2022										¥ 372	¥ 82	3,295,336	3,433	(46,069)	(2,889,233)	42,648	(164,746)	241,823
Balances (in Shares) at Mar. 31, 2022 | shares										55,709,591	13,037,729
Foreign currency translation adjustment														15,591				15,591
Accretion on redeemable non-controlling interests to redemption value															(675)			(675)
Receivable for issuance of ordinary shares (Note 22)																	81,341	81,341
Unrealized securities holding losses, net of tax														(6,711)				(6,711)
Issuance of ordinary shares for the exercise of stock options										¥ 1		37						¥ 38
Issuance of ordinary shares for the exercise of stock options (in Shares) | shares										53,488								53,488	53,488
Appropriations to statutory reserves													443		(443)
Share-based compensation												(7,677)						¥ (7,677)
Net loss															(102,799)	(3,177)		(105,976)
Balances at Mar. 31, 2023	¥ 373	¥ 82	¥ 3,287,696	¥ 3,876	¥ (37,189)	¥ (2,995,975)	¥ 39,471	¥ (83,405)	¥ 214,929	¥ 373	¥ 82	3,287,696	3,876	(37,189)	(2,993,150)	39,471	(83,405)	217,754
Balances (in Shares) at Mar. 31, 2023 | shares	55,763,079	13,037,729								55,763,079	13,037,729
Change in Accounting Policy*															(2,825)			(2,825)
Foreign currency translation adjustment														1,258				1,258	$ 174
Accretion on redeemable non-controlling interests to redemption value															(766)			(766)
Receivable for issuance of ordinary shares (Note 22)												75,276					(7,902)	67,374
Unrealized securities holding losses, net of tax														(3,547)				(3,547)	$ (491)
Issuance of ordinary shares for the exercise of stock options												27						¥ 27
Issuance of ordinary shares for the exercise of stock options (in Shares) | shares										9,428,674								37,741	37,741
Appropriations to statutory reserves
Share-based compensation												679						¥ 679
Debt waive of Chong Li												(75,276)					75,276
Issuance of ordinary shares for the public offering and private placement										¥ 589		41,273						41,862
Issuance of ordinary shares for the public offering and private placement (in Shares) | shares										82,500,000
Net loss															(63,664)	(5,234)		(68,898)	$ (9,541)
Balances at Mar. 31, 2024										¥ 962	¥ 82	¥ 3,329,675	¥ 3,876	¥ (39,478)	¥ (3,060,405)	¥ 34,237	¥ (16,031)	¥ 252,918	$ 35,031
Balances (in Shares) at Mar. 31, 2024 | shares										147,691,753	13,037,729

Consolidated Statements of Cash

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)		Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)		Mar. 31, 2022 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (68,898)		$ (9,541)	¥ (105,976)		¥ (132,823)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization expense	6,355		880	7,844		7,678
Provision for inventories obsolescence	(223)		(31)	35		311
Allowance for expected credit loss	(116)		(16)	133		213
Interest expense of other debts	5,058		701	9,706		17,144
Interest receivable for issuance of ordinary shares				(6,112)		(14,239)
Amortization of right-of-use assets	17,948		2,486	24,597		11,705
Interest of lease liabilities	199		28	1,777		1,949
Investment income	(1,820)		(252)	178		622
Share of results of equity investees	(50)		(7)	82		(418)
Discount on the ordinary shares issued by public offering	5,943		823
Loss/(gain) on disposal of property and equipment and intangible assets	46		6	(7)		(104)
Loss on disposal of other debts	1,425		197
Gain from the re-measurement of the previously held equity interest to the fair value in the business acquisition						(127)
Gain from disposal of a subsidiary	(49)	[1]	(7)	(3,597)	[1]		[1]
Impairment of goodwill				40,684
Share-based compensation expense	679		94	(7,677)		14,409
Fair value change of derivative liabilities	1,034		143	2,266		(2,824)
Deferred tax expense	(907)		(126)	(989)		(989)
Changes in operating assets and liabilities, net of effects of businesses acquired:
Accounts receivable	27,179		3,764	(27,455)		(6,131)
Inventories	26,540		3,676	30,583		(23,176)
Prepayments and other current assets	11,491		1,591	47,754		(35,056)
Amounts due from related parties	2,413		334	(3,839)		490
Operating lease liabilities	(17,977)		(2,490)	(26,397)		(12,849)
Accounts payable	(31,501)		(4,363)	(36,342)		18,106
Salary and welfare payable	(3,893)		(539)	6		293
Accrued liabilities and other current liabilities	(4,766)		(660)	2,701		1,954
Amounts due to related parties	(471)		(65)	252		(808)
Contract liabilities	(2,892)		(402)	(2,536)		3,140
Other non-current assets	1,825		253	(1,740)		4,026
Net cash used in operating activities	(25,428)		(3,523)	(54,069)		(147,504)
Cash flows from investing activities:
Loan advanced to third parties	(3,194)		(442)	(7,864)		(2,376)
Repayments on loan receivables from third parties	4,206		583	1,096		2,579
Loan advanced to related parties	(4,779)		(662)	(4,120)		(35,995)
Repayments on loan receivables from related parties	3,196		443	3,874		35,245
Acquisition of subsidiaries				(2,938)
Disposal of subsidiaries, net of cash and cash equivalents acquired	(37)		(5)
Proceeds from disposal of short-term investments	69,797		9,667	58,287		40,462
Purchase of intangible assets	(36)		(5)	(50)		(24)
Purchase of property and equipment	(527)		(73)	(1,805)		(3,077)
Proceeds from disposal of property and equipment	213		30	16		125
Acquisitions of long-term investments						(15,792)
Deposits to be used in connection with future acquisitions	(29,090)		(4,029)
Disposal of long-term investments	8,065		1,117
Net cash generated from/ (used in) investing activities	47,814		6,624	46,496		21,147
Cash flows from financing activities:
Acquisition of additional interests in subsidiaries from non-controlling interests						245
Proceeds from short-term and long-term borrowings	15,000		2,077	110,553		185,614
Repayments of short-term and long-term borrowings	(86,049)		(11,918)	(187,234)		(176,897)
Proceeds from issuance of other debts, net of issuance costs	8,786		1,217	87,959		262,870
Repayments of other debts	(6,818)		(944)	(87,959)		(270,860)
Proceeds from exercise of share option	29		4	25		1,023
Proceeds from issuance of ordinary shares, net of issuance costs	35,920		4,975
Net cash flows generated from/ (used in) financing activities	(33,132)		(4,589)	(76,656)		1,995
Net decrease in cash, cash equivalents and restricted cash	(10,746)		(1,488)	(84,229)		(124,362)
Cash, cash equivalents and restricted cash at beginning of year	89,850		12,444	162,855		292,237
Effects of exchange rate changes on cash, cash equivalents and restricted cash	(6,382)		(884)	11,224		(5,020)
Cash, cash equivalents and restricted cash at end of year	72,722		10,072	89,850		162,855
Supplemental schedule of non-cash investing and financing activities:
Accretion on redeemable non-controlling interests	(766)		(106)	(675)		(575)
Unpaid cash consideration for business acquisitions	(2,938)		(407)	(2,938)		(2,938)
Additional ASC 842 supplemental disclosure:
Cash paid for fixed operating lease costs included in the measurement of lease obligations in operating activities	17,977		2,490	26,397		12,849
Right-of-use assets obtained in exchange for operating lease obligations	¥ 4,545		$ 629	¥ 8,384		¥ 21,038
[1]In August 2022, the Company disposed a subsidiary to a third-party investor and recognized an investment gain of RMB 3.6 million. In November 2023, the Company disposed a subsidiary and recognized an investment gain of RMB 0.05 million.

Organization and Principal Acti

Organization and Principal Activities	12 Months Ended
	Mar. 31, 2024
Organization and Principal Activities [Abstract]
Organization and principal activities	1. Organization and principal activities (a) Principal activities Boqii Holding Limited (“Boqii Holding”, or the “Company”), was incorporated under the laws of the Cayman Islands in June 2012, as an exempted company with limited liability. In these consolidated financial statements, where appropriate, the term “Company” also refers to its subsidiaries, the VIEs and the VIEs’ subsidiaries as a whole. The Company operates as an online one-stop destination for users to shop for a variety of pet products and interact with other users in its online pet community in the People’s Republic of China (the “PRC”), through its online platforms (Boqii.com and Boqii application, collectively “Boqii Marketplace”), branded stores on third-party online platforms (the “Online Branded Stores”) and its online pet community (“Boqii Community”). In addition to online business, the Company provides pet products to offline pet stores and hospitals. The Company’s consolidated financial statements include the financial statements of the Company, its subsidiaries, consolidated VIEs and VIEs’ subsidiaries. As of March 31, 2024, the Company’s principal subsidiaries, consolidated VIEs and major VIEs’ subsidiaries are as follows: Name of subsidiaries and VIE Place of incorporation Date of incorporation or acquisition Percentage of direct or indirect Principal activities Subsidiaries: Boqii Corporation Limited (“Boqii Corporation”) Hong Kong July 2012 100 % Investment holding Boqii International Limited Hong Kong August 2016 100 % Investment holding Xingmu International Limited British Virgin Islands August 2019 51 % Investment holding Xingmu HK Limited Hong Kong November 2019 51 % Investment holding Nanjing Xinmu Information Technology Co., Ltd. (“Xingmu WFOE”) Nanjing, the PRC November 2019 51 % Technology development and sales of merchandise Xincheng (Shanghai) Information Technology Co., Ltd. (“Shanghai Xincheng”) Shanghai, the PRC November 2012 100 % Technology development and sales of merchandise Shanghai Yiqin Pets Products Co., Ltd. Shanghai, the PRC February 2013 100 % Technology development and sales of merchandise Consolidated VIEs Guangcheng (Shanghai) Information Technology Co., Ltd. (“Shanghai Guangcheng”) Shanghai, the PRC November 2012 100 % Operates the Company’s own online e-commerce platform Nanjing Xingmu Biotechnology Co., Ltd. (“Nanjing Xingmu”) Nanjing, the PRC November 2019 51 % Biotechnology research and development Suzhou Taicheng Supply Chain Co., Ltd. (“Suzhou Taicheng”) Suzhou, the PRC June 2021 100 % Sales of merchandise Suzhou Xingyun Yueming Supply Chain Co., Ltd. (“Suzhou Xingyun”) Suzhou, the PRC April 2022 100 % Sales of merchandise Subsidiaries of VIEs Boqii (Shanghai) Information Technology Co., Ltd. Shanghai, the PRC August 2014 90 % Technology development (b) Consolidated variable interest entities In order to comply with the PRC laws and regulations which prohibit or restrict foreign investments into companies involved in restricted businesses, the Company operates online platforms that provide internet information services and engages in other foreign-ownership-restricted businesses through certain PRC domestic companies (the PRC Domestic Companies, or the “VIEs”). The equity interests of the PRC Domestic Companies are held by certain management members of the Company or onshore nominees of certain investors of the Company (“Nominee Shareholders”), who act as nominee equity holders of the PRC Domestic Companies on behalf of Shanghai Xincheng and Xingmu WFOE, the Company’s wholly owned subsidiaries in the PRC (the “WFOEs”). The WFOEs entered into a series of contractual arrangements with the PRC Domestic Companies and their respective Nominee Shareholders (the “Contractual Arrangements”). These Contractual Agreements cannot be unilaterally terminated by the Nominee Shareholders or the PRC Domestic Companies. Through the Contractual Arrangements, the Nominee Shareholders have granted all their legal rights including voting rights and disposition rights of their equity interests in the PRC Domestic Companies to the WFOEs. The Nominee Shareholders do not have the power to direct the activities of the PRC Domestic Companies that most significantly impact their economic performance. The Nominee Shareholders do not have the obligation to absorb losses of the PRC Domestic Companies that could potentially be significant to them or the right to receive benefits from the PRC Domestic Companies that could potentially be significant to them. Accordingly, the PRC Domestic Companies are considered as variable interest entities of the Company, through the WFOEs. In accordance with Accounting Standards Codification (“ASC”) 810-10-25-38A, the Company, through its WFOEs, has a controlling financial interest in the VIEs because the WFOEs have the power to direct activities of the VIEs that most significantly impact the economic performance of the VIEs. In addition, under the terms of the Contractual Arrangements, the WFOEs have (i) the right to receive economic benefits that could potentially be significant to the VIEs in the form of service fees under the Exclusive Consultation and Service Agreements; (ii) the right to receive all dividends declared by the VIEs and the right to all undistributed earnings of the VIEs; and (iii) the obligation to absorb the substantially expected losses and the right to receive the residual benefits of the VIEs through its exclusive option to acquire 100% of the equity interests in the VIEs, to the extent permitted under PRC law. Thus, the Company, through the WFOEs, has the obligation to absorb the expected losses and the right to receive expected residual return of the VIEs that could potentially be significant to the VIEs. Based on the above, the Company, through the WFOEs, is the ultimate primary beneficiary of the VIEs. Accordingly, the financial statements of the VIEs and their subsidiaries are consolidated in the Company’s consolidated financial statements. Loan Agreements Pursuant to the relevant loan agreements, the WFOEs have granted interest-free loans to the relevant Nominee Shareholders of the relevant VIEs with the sole purpose of providing funds necessary for the capital injection to the relevant VIEs. The loans can only be repaid by transfer of the equity interests of the relevant VIEs held by the Nominee Shareholders, and shall be repaid upon the occurrence of, among other events, the WFOEs exercise of their options to purchase the relevant VIEs’ equity interests under the Exclusive Option Agreements (refer to following section for further details). Any proceeds received by the Nominee Shareholders from transfer of the equity interests shall also be repaid to the WFOEs as part of the loan repayments. Other events that will lead to loan repayments include: the Nominee Shareholders receiving a written notice from the relevant PRC subsidiaries requesting loan repayments; the death or loss of capacity for civil conduct of the Nominee Shareholders; the Nominee Shareholders no longer acting as shareholders of the relevant VIEs or employees of the relevant VIEs, PRC subsidiaries or their related parties; the Nominee Shareholders being involved in criminal activities; or, any third party making a claim in an amount over RMB 500,000 against the Nominee Shareholders. The loans shall be considered fully repaid when the Nominee Shareholders have transferred all equity interests held by them to the WFOEs or a party designated by the WFOEs. The Loan Agreements shall remain valid until the Nominee Shareholders repaid the relevant loans to the WFOEs. Exclusive Option Agreements The Nominee Shareholders of the VIEs have granted the WFOEs the exclusive and irrevocable right to purchase or to designate one or more person(s) at their discretion to purchase part or all of the equity interests in the VIEs from the Nominee Shareholders for a purchase price at any time, subject to the lowest price permitted by PRC laws and regulations. The VIEs and their Nominee Shareholders have agreed that without prior written consent of the WFOEs, their respective Nominee Shareholders cannot sell, transfer, pledge or dispose their equity interests, and the VIEs cannot sell, transfer, pledge or dispose, but not limit to, the equity interests, significant assets, significant revenue and significant business. Also as agreed, the VIEs cannot declare any dividend or change capitalization structure of the VIEs and cannot enter into any loan or investment agreements. Furthermore, the Nominee Shareholders have agreed that any proceeds but not limited to the sales of the Nominee Shareholders’ equity interest in relevant VIEs should be gratuitously paid to the WFOEs or one or more person(s) at their discretion. The Exclusive Option Agreement will remain effective until all equity options in VIEs held by such Nominee Shareholders are transferred or assigned to the WFOEs or their designated representatives. Proxy Agreement and Power of Attorney Pursuant to the irrevocable power of attorney, each of the Nominee Shareholders appointed the WFOEs as their attorney-in-fact to exercise all shareholder rights under PRC law and the relevant articles of association, including but not limited to, attending shareholders meetings, voting on their behalf on all matters requiring shareholder approval, including but not limited to sale, transfer, pledge, or disposition of all or part of the Nominee Shareholders’ equity interests, and designation and appointing the legal representative, directors, supervisors, chief executive officer and other senior management members of the VIEs. Each power of attorney will remain in force during the period when the Nominee Shareholders continues to be shareholders of the VIEs. Each Nominee Shareholder has waived all the rights which have been authorized to the person designated by the WFOEs under each power of attorney. Exclusive Consultation and Service Agreements Pursuant to the Exclusive Consultation Service Agreements, the WFOEs have agreed to provide to the VIEs services, including, but not limited to, design and maintenance of the E-Commerce platform, consulting services, technical training, research, planning and development of the market and customer support. The VIEs shall pay to the WFOEs service fees determined based on the complexity and difficulty of the services, title of and time consumed by employees, contents and value of the services, operation conditions and market price of the service provided. The Exclusive Consultation and Service Agreements will be in effect permanent unless terminated by the WFOEs. The WFOEs have the exclusive ownership of all the intellectual property rights created as a result of the performance of the agreements. Intellectual Property License Agreements Pursuant to the intellectual property license agreements, the WFOEs have granted a non-exclusive and non-transferable license, without sublicensing rights, to the VIEs to use its intellectual property. The VIEs may only use the licenses in its own business operations. The VIEs agree to pay the WFOEs a quarterly service fee at an amount that is equal to the VIEs’ revenue for the relevant quarter with a certain percentage or an amount adjusted at the WFOEs’ sole discretion for the relevant quarter, which should be paid within 15 business days after the VIEs confirm in writing the amount and breakdown of the service fee for the relevant quarter. The agreement has a term of 10 years and shall automatically renew at the end of each term for a further term of 10 years, unless otherwise terminated by the WFOEs in its sole discretion with 90 days’ prior written notice. Equity Interest Pledge Agreements Pursuant to the relevant equity interest pledge agreements, the Nominee Shareholders of the VIEs have pledged 100% equity interests in relevant VIEs to the WFOEs to guarantee performance by the Nominee Shareholders of their obligations under the Exclusive Option Agreements, the Proxy Agreement and Power of Attorney and the Loan Agreements, as well as the performance by the VIEs of their obligations under the Exclusive Option Agreements, the Exclusive Consultation and Service Agreements and Intellectual Property License Agreements. In the event of a breach by the VIEs or any of their Nominee Shareholders of contractual obligations under the Contractual Agreements, as the case may be, the WFOEs, as pledgee, will have the right to dispose of the pledged equity interests in the relevant VIEs and will have priority in receiving the proceeds from such disposal. The Nominee Shareholders of the VIEs also covenant that, without the prior written consent of the WFOEs, they will not dispose of, create or allow any encumbrance on the pledged equity interests. The Equity Interest Pledge Agreements will remain in effect so long as any of the Loan Agreements, the Exclusive Consultation Service Agreements, the Exclusive Option Agreements, the Proxy Agreement and Power of Attorney, or the Intellectual Property License Agreements, as mentioned above, remains in effect or any guaranteed obligations of the VIEs, or, to the extent applicable, its Nominee Shareholders, remains outstanding under the Contractual Agreements. The pledge was registered with the relevant local administration and will remain binding until the VIEs and their Nominee Shareholders discharge all their obligations under the Contractual Arrangements. The registration of the equity pledge enables the WFOEs to enforce the equity pledge against third parties who acquire the equity interests of the VIEs in good faith. One set of existing Contractual Agreements were initially entered into in September 2012 by Shanghai Xincheng (one of the Company’s WFOEs), Shanghai Guangcheng (one of the Company’s VIEs) and its nominee shareholders, was subsequently amended and restated on substantially similar terms in September 2017, October 2019, August 2020 and September 2022, respectively. One set of existing Contractual Agreements were entered into in September 2019 by Xingmu WFOE (one of the Company’s WFOEs), Nanjing Xingmu (one of the Company’s VIEs) and its Nominee Shareholders. One set of Contractual Agreements were entered into in June 2021 by Shanghai Xincheng (one of the Company’s WFOEs), Suzhou Taicheng (one of the Company’s VIEs) and its Nominee Shareholders, was subsequently amended and restated on substantially similar terms in February 2023. A new set of Contractual Agreements were entered into in April 2022 by Shanghai Meiyizhi Supply Chain Co, Ltd (one of the Company’s WFOEs), Suzhou Xingyun (one of the Company’s VIEs) and its Nominee Shareholders. The Loan Agreements, Exclusive Option Agreements, Proxy Agreement and Power of Attorney, Exclusive Consultation and Service Agreements, Intellectual Property License Agreements and Equity Interest Pledge Agreements were amended to reflect the changes of shareholders’ holding in the VIE in their respective dates. No other material terms or conditions of these agreements were changed or altered. There was no impact to the Company’s control over the VIEs and the Company continues to consolidate the VIEs. (c) Risks in relations to the VIE structure Under the Contractual Agreements with the consolidated VIEs, the Company has the power to direct activities of the consolidated VIEs and VIEs’ subsidiaries through the Company’s relevant PRC subsidiaries, and can have assets transferred freely out of the consolidated VIEs and VIEs’ subsidiaries without restrictions. Therefore, the Company considers that there is no asset of the consolidated VIEs that can only be used to settle obligations of the respective consolidated VIEs, except for the registered capital of the consolidated VIEs amounting to RMB52 million and RMB52 million as of March 31, 2023 and 2024. Since the consolidated VIEs and VIEs’ subsidiaries are incorporated as limited liability companies under the PRC Law, creditors of the consolidated VIEs and VIEs’ subsidiaries do not have recourse to the general credit of the Company. The Company believes that the Company’s relevant PRC subsidiaries’ Contractual Arrangements with the consolidated VIEs and the Nominee Shareholders are in compliance with PRC laws and regulations, as applicable, and are legally binding and enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these contractual arrangements. In addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future PRC law, the Company may be subject to penalties, which may include but not be limited to, the cancellation or revocation of the Company’s business and operating licenses, being required to restructure the Company’s operations or terminate the Company’s operating activities. The imposition of any of these or other penalties may result in a material and adverse effect on the Company’s ability to conduct its operations. In such case, the Company may not be able to operate or control the VIEs, which may result in deconsolidation of the VIEs. The following table set forth the assets, liabilities, results of operations and changes in cash, cash equivalents and restricted cash of the consolidated VIEs and their subsidiaries taken as a whole, which were included in the Company’s consolidated financial statements with intercompany transactions eliminated ( RMB in thousands As of March 31, 2023 2024 RMB RMB Cash and cash equivalents 15,522 19,197 Accounts receivable, net 33,172 23,731 Amounts due from related parties 6,770 7,298 Inventories, net 27,894 11,104 Prepayments and other current assets 48,291 32,418 Inter-company receivables 83,700 19,140 Property and equipment, net 4,661 2,444 Intangible assets 101 25 Operating lease right-of-use assets 22,305 7,346 Long-term investments 75,505 65,849 Other non-current asset 5,219 2,093 Total assets 323,140 190,645 As of March 31, 2023 2024 RMB RMB Short-term borrowings 363 10,213 Accounts payable 13,459 2,279 Amounts due to related parties, current 21 - Salary and welfare payable 5,573 440 Accrued liabilities and other current liabilities 15,712 6,759 Contract liabilities 4,471 1,579 Operating lease liabilities, current 9,207 5,254 Inter-company payables 1,095,452 997,922 Operating lease liabilities, non-current 12,741 2,209 Other debts, non-current 75,481 11,500 Total liabilities 1,232,480 1,038,155 Year Ended March 31, 2022 2023 2024 RMB RMB RMB Net revenues: Third-party revenues 877,380 786,152 463,457 Inter-company revenues 56,079 86,463 41,335 Total revenues 933,459 872,615 504,792 Cost of revenues: Third-party cost of revenues (160,661 ) (81,810 ) (92,297 ) Inter-company cost of revenues (550,585 ) (534,518 ) (266,823 ) Total cost of revenues (711,246 ) (616,328 ) (359,120 ) Gross profit 222,213 256,287 145,672 Operating expenses: Third-party operating expenses (288,291 ) (237,852 ) (138,799 ) Inter-company operating expenses - (41 ) 286 Total operating expenses (288,291 ) (237,893 ) (138,513 ) Impairment of goodwill - (994 ) - Other income, net 98 158 961 Profit/(Loss) from operations (65,980 ) 17,558 8,120 Non-operating expense (20,680 ) (29 ) (15,744 ) Profit/(Loss) before income tax expenses (86,660 ) 17,529 (7,624 ) Income tax benefits 681 21 38 Share of results of equity investees 418 (82 ) 50 Net profit/(loss) (85,561 ) 17,468 (7,536 ) Cash flows from operating activities: Net cash provided by transactions with external parties 526,201 471,991 244,798 Net cash used in transactions with the Company’s entities (329,325 ) (449,155 ) (717,589 ) Net cash generated from/ (used in) operating activities 196,876 22,836 (472,791 ) Cash flows from investing activities: Other investing activities (18,482 ) (9,638 ) 5,219 Cash flows of loan funding provided to the Company’s entities, net of repayments received 6,294 - - Net cash used in investing activities (12,188 ) (9,638 ) 5,219 Cash flows from financing activities: Other financing activities (273,906 ) (88,469 ) 3,032 Cash flows of loan funding received from the Company’s entities, net of repayments made 91,794 69,204 468,214 Net cash generated from/ (used in) financing activities (182,112 ) (19,265 ) 471,246

Principal Accounting Policies

Principal Accounting Policies	12 Months Ended
	Mar. 31, 2024
Principal Accounting Policies [Abstract]
Principal Accounting Policies	2. Principal Accounting Policies (a) Basis of preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below. (b) Basis of consolidation The Company’s consolidated financial statements include the financial statements of the Company, its subsidiaries, the consolidated VIEs and VIEs’ subsidiaries for which the Company is the primary beneficiary. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A consolidated VIE is an entity in which the Company, or its subsidiaries, through Contractual Agreements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiaries are the primary beneficiary of the entity. All transactions and balances among the Company, its subsidiaries, the consolidated VIEs and VIEs’ subsidiaries have been eliminated upon consolidation . (c) Business combination and non-controlling interests The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations In a business combination achieved in stages, the Company re-measures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement gain or loss, if any, is recognized in the consolidated statements of operations and comprehensive loss. When there is a change in ownership interests or a change in contractual arrangements that results in a loss of control of a subsidiary or consolidated VIE, the Company deconsolidates the subsidiary or consolidated VIE from the date control is lost. Any retained non-controlling investment in the former subsidiary or consolidated VIE is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary or consolidated VIE. For the Company’s consolidated subsidiaries, VIEs and VIEs’ subsidiaries, non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. Non-controlling interests are classified as a separate line item in the equity section of the Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated statements of operations and comprehensive loss to distinguish the interests from that of the Company. (d) Use of estimates The preparation of the Company’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company believes that assessment for impairment of long-lived assets and valuation of available-for-sale debt securities require significant judgments and estimates used in the preparation of its consolidated financial statements. Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. On an ongoing basis, management evaluates its estimates based on information that is currently available. Changes in circumstances, facts and experience may cause the Company to revise its estimates. Changes in estimates are recorded in the period in which they become known. Actual results could materially differ from these estimates. (e) Functional currency and foreign currency translation The Company’s reporting currency is Renminbi (“RMB”). The functional currency of the Company’s entities incorporated in Cayman Islands, British Virgin Islands and Hong Kong is the United States dollars (“US$”). The Company’s PRC subsidiaries, consolidated VIEs and VIEs’ subsidiaries determined their functional currency to be RMB. The determination of the respective functional currency is based on the criteria of ASC 830, Foreign Currency Matters Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in other than the functional currency are translated at the balance sheet date exchange rate. The resulting exchange differences are included in the consolidated statements of operations and comprehensive loss as other gains, net. The financial statements of the Company are translated from the functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into RMB at the appropriate historical rates. Revenues, expenses, gains and losses are translated into RMB using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in accumulated other comprehensive loss as a component of shareholders’ equity. The exchange rates used for translation on March 31, 2023 and 2024 were US$1.00= RMB 6.8717 and RMB 7.0950, respectively, representing the index rates stipulated by the People’s Bank of China. (f) Convenience translation Translations of the consolidated balance sheets, the consolidated statements of operations and comprehensive loss and the consolidated statements of cash flows from RMB into US$ as of and for the year ended March 31, 2024 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB 7.2203, representing the certificated exchange rate published by the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on March 31, 2024, or at any other rate. (g) Fair value of financial instruments Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities. Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial assets and liabilities of the Company mainly consist of cash and cash equivalents , accounts receivable, amounts due from related parties, prepayments and other current assets, available-for-sale debt investments, accounts payable, short-term borrowings, derivative liabilities, accrued liabilities and other current liabilities, amounts due to related parties, and other debts. As of March 31, 2023 and 2024, except for available-for-sale debt investments and derivative liabilities, carrying values of cash and cash equivalents, short-term investments, accounts receivable, amounts due from related parties, certain prepayments and other current assets (h) Cash and cash equivalents Cash and cash equivalents include cash on hand and time deposits placed with banks and third-party payment processors, which are unrestricted as to withdrawal or use, have original maturities of three months or less at the time of purchase and are readily convertible to known amounts of cash. (i) Short-term investments Short-term investments comprise primarily of (i) cash deposits at fixed rates with original maturities of greater than three months, but less than 12 months and; (ii) the investments issued by commercial banks or other financial institutions with a variable interest rate indexed to the performance of underlying assets within one year. As of March 31, 2023, RMB70 million short-term investments were used as collateral of the short-term borrowings amount to RMB64 million. As of March 31, 2024, there was short-term investments of Nil (j) Accounts receivable, net Accounts receivables are stated at the amount management expects to collect from customers based on their outstanding invoices. Prior to April 1, 2023, the Company monitors the collection of its receivables and records allowance for specifically identified non-recoverable amounts, If the economic situation and the financial condition of a customer deteriorate resulting in an impairment of the customer’s ability to make payments, additional allowances might be required. Receivable balances are written off when they are determined to be uncollectible. Starting from April 1, 2023, the Company adopted ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments” (“ASC Topic 326”), which creates an impairment model that is based on expected losses rather than incurred losses. To estimate the allowance for current expected credit losses (“CECL”). the Company has identified the relevant risk characteristics of its customers and the related receivables and other receivables which include but are not limited to geographic region and industry. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Company considers the past collection history, future forecasts and macroeconomic factors. Other key factors that influence the CECL, analysis include industry-specific factors and certain qualitative adjustments that could impact the Company’s receivables. This is assessed at each period end based on the Company’s specific facts and circumstances. The Company used a modified retrospective approach to adopt ASC Topic 326, and the cumulative-effect to retained earnings was RMB2.8 million. (k) Inventories Inventories are stated at the lower of cost and net realizable value. Cost elements of our inventories comprise the purchase price of products, vendor rebates, shipping charges to receive products from the suppliers when they are embedded in the purchase price. Cost is determined using the first-in first-out method. Provisions are made for excessive, slow moving, expired and obsolete inventories as well as for inventories with carrying values in excess of market. Certain factors could impact the realizable value of inventory, so the Company continually evaluates the recoverability based on assumptions about customer demand and market conditions. The evaluation may take into consideration historical usage, inventory aging, expiration date, expected demand, anticipated sales price, new product development schedules, the effect new products might have on the sale of existing products, product obsolescence, customer concentrations, and other factors. The reserve or write-down is equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory reserves or write-downs may be required that could negatively impact the Company’s gross margin and operating results. If actual market conditions are more favorable, the Company may have higher gross margin when products that have been previously reserved or written down are eventually sold. (l) Property and equipment, net Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is calculated on a straight-line basis over the following estimated useful lives. The estimated useful lives are as follows: Useful years Warehouse equipment 3 - 5 years Furniture, computer and office equipment 3 - 5 years Vehicles 5 years Software 10 years Leasehold improvements Over the shorter of the expected life of Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of operations and comprehensive loss. (m) Intangible assets, net Intangible assets purchased from third parties are initially recorded at cost. The Company performs valuation of the intangible assets arising from business combinations to determine the relative fair value to be assigned to each asset acquired. The intangible assets are amortized using the straight-line method over the estimated useful lives of the assets. The estimated useful lives of intangible assets are as follows: Useful years Trademark 10 years Dealership 10 years License 4.5 years The estimated life of amortized intangibles is reassessed if circumstances occur that indicate the life has changed. (n) Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a business combination. Goodwill is not amortized but is tested for impairment on an annual basis as of March 31, and in between annual tests when an event occurs, or circumstances change that could indicate that the asset might be impaired. In accordance with ASU No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of step 2 of the goodwill impairment test. Management conducts its goodwill impairment assessment as of March 31 annually or more frequently if events or changes in circumstances indicate that it may be impaired. The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, so as to perform the quantitative goodwill impairment test. If determined to be necessary, the quantitative impairment test is used to identify goodwill impairment by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. There is only one reporting unit in the Company. Therefore, the goodwill assessment was performed for the Company on consolidated level as one reporting unit. (o) Long-term investments The Company’s investments include equity method investments, equity securities with readily determinable fair values and available-for-sale debt securities. The Company applies the equity method of accounting to account for an equity investment, in common stock or in-substance common stock, according to ASC 323 “Investment—Equity Method and Joint Ventures”, over which it has significant influence but does not own a majority equity interest or otherwise control. Under the equity method, the Company’s share of the post-acquisition profits or losses of the equity investees are recorded in share of results of equity investees in the consolidated statements of operations and comprehensive loss. The excess of the carrying amount of the investment over the underlying equity in net assets of the equity investee, if any, represents goodwill and intangible assets acquired. When the Company’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Company does not recognize further losses, unless the Company has incurred obligations or made payments or guarantees on behalf of the equity investee. Equity securities with readily determinable fair values are measured and recorded at fair value on a recurring basis with changes in fair value, whether realized or unrealized, recorded through the income statement. Debt securities that the Company has the intent to hold the security for an indefinite period or may sell the security in response to the changes in economic conditions are classified as available-for-sale debt securities and reported at fair value. Unrealized gains and losses (other than impairment losses) are reported, net of the related tax effect, in other comprehensive loss. Upon sale, realized gains and losses are reported in net income (loss). The Company continually reviews its investments to determine whether a decline in fair value to below the carrying value is other than temporary. The primary factors the Company considers in its determination are the duration and severity of the decline in fair value; the financial condition, operating performance and the prospects of the equity investee; and other company specific information such as recent financing rounds. If the decline in fair value is deemed to be other-than-temporary, the carrying value of the investment is written down to fair value. (p) Impairment of long-lived assets other than goodwill Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. (q) Revenue recognition In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”) and subsequently, the FASB issued several amendments which amends certain aspects of the guidance in ASC 2014-09 (ASU No. 2014-09 and the related amendments are collectively referred to as “ASC 606”). According to ASC 606, revenue is recognized when control of the promised good or service is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Consistent with the criteria of Topic 606, the Company follows five steps for its revenue recognition: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. Revenue arrangements with multiple performance obligations are divided into separate distinct goods or services. The Company allocates the transaction price to each performance obligation based on the relative standalone selling price of the goods or services provided. When either party to a contract has performed, the Company presents the contract in the statement of financial position as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A receivable is recorded when the Company has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. A contract asset is recorded when the Company has transferred products or services to the customer before payment is received or is due, and the Company’s right to consideration is conditional on future performance or other factors in the contract. No contract asset was recorded as of March 31, 2023 and 2024. The Company’s contract liabilities consist of payments received or awards to customers (in the form of Boqii Beans) related to unsatisfied performance obligations at the end of the period. As of April 1, 2022 and 2023, the Company’s total contract liabilities were RMB7.0 million and RMB4.5 million, respectively, of which RMB3.0 million and RMB3.7 million were recognized as revenue for the years ended March 31, 2023 and 2024. The Company’s total unearned revenue was RMB1.6 million as of March 31, 2024. Revenue is recorded net of value-added tax. Revenue recognition policies for each type of revenue steam are as follows: Sales of merchandise The Company primarily sells pet products through . Besides online sales, the Company also sells products through offline channels to its business customers and pet stores across the country. The Company recognizes the product revenues from products sales on a gross basis as the Company is acting as a principal in these transactions. The Company has obtained control of the products before they are transferred to customers. The Company is primarily obligated in these transactions, is subject to inventory risk or has the ability to direct the use of inventory, and has latitude in establishing prices and selecting suppliers. The Company also enters into arrangements with its business partners to sell their products on the Company’s online stores. does not control the underlying the Company has no discretion in establishing prices of the products provided by its business partners. Upon successful sales, the Company will charge the business partners a negotiated amount or a fixed rate commission fee based on the sales amount. Commission revenues are recognized on a net basis at the point of consumers’ acceptance of products, net of return allowance. Online marketing and information services and other revenue The Company provides online marketing and information services to third-party on the Company’s various channels and third-party platforms, including but not limited to advertising placements, The Company also provides warehouse services. The warehouse services include warehousing, packaging, dispatching and other services. Revenue is primarily recognized when the services are rendered. (r) Sales returns The Company offers online consumers an unconditional right of return for a period of seven days upon receipt of products. Return allowances, which reduce revenue and cost of sales, are estimated by categories of return policies offered to online customers, based on historical data the Company has maintained, and subject to adjustments to the extent that actual returns differ or are expected to differ. (s) Sales incentives The Company adopted a customer reward program, under which the Company grants certain units (“Boqii Bean”) to its customers at its discretion in different situations. Boqii Beans are not redeemable for cash and can be used as a coupon for the customer’s future purchase on the Boqii Marketplace and Boqii.com. The value of ten units of Boqii Bean is equivalent to one RMB yuan before taking into account the impact of breakage. For the Boqii Beans that are granted with concurrent revenue transactions, the allocated transaction price based on its relative standalone selling price are recognized as reduction of the revenue and accrued for as contract liabilities. As customers redeem awards, the accrued liability is reduced correspondingly. For the Boqii Beans that are granted without concurrent revenue transactions, they are not accounted for when granted and are recognized as a reduction of revenue when they are applied in future sales. The Company also has a coupon program, through which the Company grants coupons to online customers when they make a successful purchase order, finish first registration on Boqii Marketplace or comment on products. When a coupon is granted concurrent with a revenue transaction, the Company accounts for the estimated cost of future usage of the coupon as reduction of the revenue. When a coupon is not granted concurrent with a revenue transaction, they are not accounted for when they are granted and are recognized as a reduction of revenue when they are applied in future sales. (t) Cost of revenue Cost of revenue consist of cost of product sales of RMB930.4 million, RMB842.7 million and RMB560.1 million for the years ended March 31, 2022, 2023 and 2024, respectively, and cost of services of RMB13.3 million, RMB15.9 million and RMB8.5 million for the years ended March 31, 2022, 2023 and 2024, respectively. Cost of product sales comprise the purchase price of products, vendor rebates and inventory write-downs. Cost of products does not include other costs such as shipping and handling expense, payroll and benefits of logistic staff, and logistic centers rental expenses. Cost of service consists of the advertising and promotion costs, employee wages and benefits in connection with the Company’s provision of marketing and information services including the fees that the Company paid to third party for advertising and promotion on various online and offline channels. (u) Vendor rebates The Company periodically receives consideration from certain vendors, representing rebates for products sold over a period of time. The Company accounts for the rebates received from its vendors as a reduction to the price it pays for the products purchased. Rebates are earned based on reaching minimum purchased thresholds for a specified period. When volume rebates can be reasonably estimated based on the Company’s past experience, current forecasts and purchase volume, a portion of the rebate is recognized as the Company makes progress towards the purchase threshold. (v) Fulfillment expenses Fulfillment costs primarily represent warehousing, shipping and handling expenses for dispatching and delivering products to consumers, employee wages and benefits for the relevant personnel, customs clearance expenses and other related transaction costs. (w) Sales and marketing expenses Sales and marketing expenses comprise primarily of advertising expenses, third-party platforms commission fee, employee wages, rental expenses and benefits for sales and marketing staff, depreciation expenses and other daily expenses which are related to the sales and marketing functions. Advertising expenses consist primarily of customer acquisition cost and costs for the promotion of corporate image and product marketing. The Company expenses all advertising costs as incurred and classifies these costs under sales and marketing expenses. For the years ended March 31, 2022, 2023 and 2024, the advertising expenses were RMB81 million, RMB44 million and RMB26 million, respectively. (x) General and administrative expenses General and administrative expenses consist of employee wages and benefits for corporate employees, research and development expenses and other expenses which are related to the general corporate functions, including accounting, finance, tax, legal and human resources, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, rental and other general corporate related expenses. For the years ended March 31, 2022, 2023 and 2024, the research and development were RMB11.3 million, RMB3.7 million and RMB2.2 million, respectively. (y) Leases The Company applied ASC 842, “Leases”, by using the optional transition method at the adoption date without recasting comparative periods. The Company determines if an arrangement is a lease at inception. Operating leases are primarily for office and warehouse space and are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities, current and operating lease liabilities, non-current on its consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate, which it calculates based on the credit quality of the Company and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of each lease. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For operating leases with a term of one year or less, the Company has elected to not recognize a lease liability or ROU asset on its consolidated balance sheet. Instead, it recognizes the lease payments as expense on a straight-line basis over the lease term. Short-term lease costs are immaterial to its consolidated statements of operations and comprehensive loss and cash flows. (z) Government grants The Company’s PRC based subsidiaries received government subsidies from certain local governments. The government subsidies are granted from time to time at the discretion of the relevant government authorities. These subsidies are granted for general corporate purposes and to support the Group’s ongoing operations in the region. Cash subsidies are recorded in other income, net on the consolidated statements of operations and comprehensive loss when received and when all conditions for their receipt have been satisfied. The Company recognized government subsidies of RMB0.2 million, RMB0.3 million and RMB3.0 million for the years ended March 31, 2022, 2023 and 2024, respectively. (aa) Income taxes Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Tax Uncertain tax positions The Company recognizes in its consolidated financial statements the benefit of a tax position if the tax position is “more likely than not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Company estimates its liability for unrecognized tax benefits which are periodically assessed and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The ultimate outcome for a particular tax position may

Business Combinations

Business Combinations	12 Months Ended
	Mar. 31, 2024
Business Combinations [Abstract]
Business combinations	3. Business combinations For the year ended March 31, 2022, the Company has completed the below business combination. The results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since their respective dates of acquisition. (a) Chongni Network Technology (Shanghai) Co., Ltd (“Chongni Network”) In October 2018, the Company acquired 49% equity interest of Chongni Network, an offline trading company incorporated in the PRC. According to the investment agreement, the Company was entitled to appoint a director to Chongni Network (out of total three board seats). The Company accounted this investment using equity method. In May 2021, the Company entered into an agreement with Chongni to purchase additional equity interest of Chongni Network with total cash consideration of RMB2.9 million. Upon the acquisition of additional interests in Chongni Network, on June 30, 2021, the date of acquisition, the Company’s equity interest in Chongni network was increased from 49% to 63.65% with the right to appoint 2 out of 3 of Chongni Network’s board of directors and have obtained control over Chongni Network thereon. The Company accounted for this transaction as a step acquisition with the total purchase consideration of RMB3.2 million, which included the cash consideration of RMB2.9 million, and the fair value of the previously held 49% equity interest of Chongni Network in an amount of RMB0.3 million. A gain of RMB0.1 million in relation to the revaluation of the previously held equity interests was recorded in other gains, net in the consolidated statement of loss and comprehensive loss for the year ended March 31, 2022. The fair value of the previously held equity interests was estimated based on the acquisition price of the additional interests of Chongni Network. The acquired business contributed revenues of Nil

Risks and Concentration

Risks and Concentration	12 Months Ended
	Mar. 31, 2024
Risks and Concentration [Abstract]
Risks and Concentration	4. Risks and Concentration (a) Foreign currency exchange rate risk The Company may experience economic losses and negative impacts on earnings and equity as a result of fluctuations in the exchange rate between the US$ and the RMB. The depreciation of RMB against US$ was approximately 2.3% in 2022. The appreciation of RMB against US$ was approximately 8.5% in 2023. The depreciation of RMB against US$ was approximately 1.7% in 2024. It is difficult to predict how market forces or the PRC or the U.S. government policy may impact the exchange rate between RMB and US$ in the future. (b) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s interest rate risk arises primarily from long-term borrowings. Borrowings issued at variable rates and fixed rates expose the Company to cash flow interest rate risk and fair value interest rate risk respectively. (c) Concentration of credit risk Financial instruments that potentially subject the Company to the concentration of credit risks consist of cash and cash equivalents, short-term investment, accounts receivable and amounts due from related parties. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. The Company deposits its cash and cash equivalents and short-term investment with financial institutions located in jurisdictions where the subsidiaries are located. The Company believes that no significant credit risk exists as these financial institutions have high credit quality. Accounts receivables are typically unsecured and are derived from revenue earned through third-party consumers. The Company conducts credit evaluations of third-party customers and related parties, and generally does not require collateral or other security from its third-party customers and related parties. The Company establishes an allowance for expected credit loss primarily based upon the age of the receivables and factors surrounding the credit risk of specific third-party customers and related parties. (d) Concentration of customers and suppliers Substantially all revenue was derived from customers located in China. There are no The information of the supplier with greater than 10% of the total purchases of the Company for the years ended March 31, 2022, 2023 and 2024 was as follows: Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Royal Canin China Co., Ltd. 17 % 22 % 26 %

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Mar. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	5. Cash and cash equivalents Cash and cash equivalents represent cash on hand and demand deposits placed with banks and third party-payment processors, which are unrestricted as to withdrawal or use. Cash and cash equivalents balance as of March 31, 2023 and March 31, 2024 primarily consist of the following currencies: As of March 31, 2023 As of March 31, 2024 RMB RMB Amount equivalent Amount equivalent RMB 62,727 62,727 42,977 42,977 Hong Kong dollars 7 6 - - US$ 3,946 27,114 4,192 29,745 EUR* - 2 - - NZD* - 1 - - Total 89,850 72,722 * Amount is less than 1,000 in respective foreign currency.

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Mar. 31, 2024
Accounts Receivable, Net [Abstract]
Accounts receivable, net	6. Accounts receivable, net Accounts receivable consist of the following： As of As of 2023 2024 RMB RMB Accounts receivable - Product sales 71,471 47,672 Accounts receivable - Online marketing and information service and other service 5,873 2,932 Allowance of expected credit loss (602 ) (486 ) Total 76,742 50,118 Movement of allowance of Expected credit loss: As of As of As of 2022 2023 2024 RMB RMB RMB At beginning of year 256 469 602 Addition/(reversal) 213 133 (116 ) At end of year 469 602 486

Inventories

Inventories	12 Months Ended
	Mar. 31, 2024
Inventories [Abstract]
Inventories	7. Inventories Inventories, net of inventory reserves consist of the following： As of As of 2023 2024 RMB RMB Products 80,431 54,992 Packaging materials and others 621 197 Total inventories, net of inventory reserves 81,052 55,189 Movement of inventory provision /(reversal):: As of As of As of 2022 2023 2024 RMB RMB RMB At beginning of year 266 577 612 Provision/(reversal) 311 35 (223 ) At end of year 577 612 389 The total amounts charged to the consolidated statements of operations and comprehensive loss for provision/(reversal) of inventory reserves amounted to approximately RMB 0.31 million, RMB 0.035 million and RMB (0.22) million, for the years ended March 31, 2022, 2023 and 2024, respectively.

Prepayments and Other Current A

Prepayments and Other Current Assets	12 Months Ended
	Mar. 31, 2024
Prepayments and Other Current Assets [Abstract]
Prepayments and other current assets	8. Prepayments and other current assets The prepayments and other current assets consist of the following: As of As of 2023 2024 RMB RMB Prepayments for purchases of products (a) 24,216 29,998 Vendor rebate receivables (b) 16,160 9,466 Value-added tax (“VAT”) deductible (c) 10,512 4,438 Loan receivables (d) 9,886 5,391 Sales return assets 2,835 2,021 Deposits (e) 999 29,477 Others 14,751 13,727 Total 79,359 94,518 (a) Prepayments for purchases of products represent cash prepaid to the Company’s third-party brand partners for the procurement of products. (b) Vendor rebate receivables represent the rebates to be received by the Company from its suppliers after certain levels of purchases are achieved. (c) VAT recoverable represents the balances that the Company can utilize to deduct its value-added tax liabilities within the next 12 months. (d) The balance represents loan receivables due from certain third-party companies and individuals. From July 2020 to February 2024, the Company entered into several loan agreements with aggregate principal amount of RMB15.8 million, including RMB 3 million to an individual in February 2024 disclosed on ITEM 16.F on Form 20-F for the year ended March 31, 2024. The maturity dates of these loans are from October 2023 to May 2025. The interest rates ranged from 0% to 4% per annum. As of March 31, 2023 and 2024, the balances of loan receivables were RMB9.9 million and RMB5.4 million, respectively. The aforementioned loan of RMB 3 million has been fully collected as of the date of this annual report. (e) Between September and November 2023, the Company’s Hong Kong subsidiary wired to a financial advisor an aggregate of approximately US$4.1 million as a deposit pursuant to an agreement entered into with this financial advisor for the Company’s future mergers and acquisitions. As of the date of this annual report, the full amount of the deposit has been returned to the Company.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Mar. 31, 2024
Property and Equipment, Net [Abstract]
Property and equipment, net	9. Property and equipment, net Property and equipment consist of the following: As of As of 2023 2024 RMB RMB Cost: Warehouse equipment 2,879 1,945 Furniture, computer and office equipment 7,082 5,395 Vehicles 4,740 4,740 Leasehold improvement 10,501 10,793 Software 3,009 3,012 Total cost 28,211 25,885 Less: Accumulated depreciation (22,719 ) (22,782 ) Property and equipment, net 5,492 3,103 The total amounts charged to the consolidated statements of operations and comprehensive loss for depreciation expenses amounted to approximately RMB3.7 million, RMB3.8 million and RMB2.7 million for the years ended March 31, 2022, 2023 and 2024, respectively.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Mar. 31, 2024
Intangible Assets, Net [Abstract]
Intangible assets, net	10. Intangible assets, net Intangible assets of the Company were mainly as follows: As of As of 2023 2024 RMB RMB Cost: Trademark 486 474 License 3,530 3,530 Dealership 31,717 31,717 Total cost 35,733 35,721 Less: Accumulated amortization (14,139 ) (17,811 ) Intangible assets, net 21,594 17,910 License and dealership resulting from the business combinations have been allocated to the single reporting unit of the Company. The total carrying amount of intangible assets resulting from the business combinations were RMB 21.6 million and RMB 17.9 million as of March 31, 2023 and 2024, respectively. The total amortization expenses of the intangible assets charged to the consolidated statements of operations and comprehensive loss amounted to approximately RMB4.0 million, RMB4.0 million and RMB 3.7 The annual estimated amortization expense for intangible assets subject to amortization for the succeeding five years is as follows: As of March 31, 2025 2026 2027 2028 2029 Amortization expenses 3,247 3,211 3,208 3,193 3,178

Long-Term Investments

Long-Term Investments	12 Months Ended
	Mar. 31, 2024
Schedule of Long-Term Investment [Abstract]
Long-term investments	11. Long-term investments The Company’s long-term investments consist of the following: As of As of 2023 2024 RMB RMB Equity method investments 7,494 7,383 Available-for-sale investments 68,011 58,465 Equity securities with readily determinable fair values 102 39 Total 75,607 65,887 Equity method investments The Company applies equity method in accounting for its investments in entities in which the Company has the ability to exercise significant influence but does not have control. As of March 31, 2023 and 2024, the carrying value of the equity method investments were RMB7.5 million and RMB7.4 million respectively, the change of which primarily relates to the equity gain recognized and the following investment which was accounted for as equity method investment: In April 2019, the Company invested in Jiangsu Nanjing Agricultural University Animal Pharmaceutical Co., Ltd. Nanjing Animal Pharmaceutical As the Company is able to exercise significant influence which entitled to appoint one director, the Company therefore accounts for this investment under the equity method of accounting. In December 2022, the Company disposed all of its equity interest in Nanjing Animal Pharmaceutical with a total cash consideration of RMB 3 . Accordingly, the Company recognized an investment gain of RMB 0.54 million in other gains, net. The Company had 24.6% equity interest in Wuhan Chunzhijin Information Technology Co., Ltd. Chunzhijin In March 2023, Chunzhijin 13.3% of by waiving a loan receivable of RMB 3.4 million from Chunzhijin. After this transaction, together with the previously held equity interest in Chunzhijin, the total equity interest held by the Company increased to 34.65%. The Company continues to have significant influence over Chunzhijin and accounts for this investment under equity method. Available-for-sale debt investments The following table summarizes the Company’s available-for-sale debt investments as of March 31, 2023: Cost Gross Gross Disposal of Fair Unlisted debt securities 76,000 - (7,561 ) (428 ) 68,011 The following table summarizes the Company’s available-for-sale debt investments as of March 31, 2024: Cost Gross Gross Disposal of Fair Unlisted debt securities 76,000 - (11,535 ) (6,000 ) 58,465 The Company held 6.2% shareholding of Qingdao Shuangan Biotechnology Co., Ltd (“Qingdao Shuangan”). According to the investment agreement, the Company is entitled to redemption right after 48 months from the investment closing date. In April 2022, the Company transferred 0.31% shareholding of Qingdao Shuangan to a third-party investor with a cash consideration of RMB0.8 million. The Company recognized a RMB0.37 million investment gain in other gains, net. After the completion of the transaction, the shareholding of Qingdao Shuangan held by the Company was 5.9%. As of March 31, 2023 and 2024, based on the valuation results, the Company re-measured the investment in Qingdao Shuangan at fair value of RMB16.2 million and RMB15.2 million, respectively. For the years ended March 31, 2023 and 2024, the unrealized securities holding losses (net of tax) of RMB 1.14 million and RMB1.0 million was recorded as other comprehensive loss, respectively. In October 2019, the Company purchased 23.64% shareholding of Beijing Petdog Technology Development Co., Ltd. (“Beijing Petdog”) with a cash consideration of RMB50 million. According to the investment agreement, the Company is entitled to redemption right after 60 months from the investment closing date. As of March 31, 2023 and 2024, based on the valuation results, the Company re-measured the investment at fair value of RMB33.7 million and RMB32.9 million, respectively. For year ended March 31, 2023 and 2024, the unrealized securities holding losses (net of tax) of RMB6.4 million and RMB0.8 million was recorded as other comprehensive loss, respectively. In July and November 2021, the Company entered into investment agreements with Nanjing Animal Pharmaceutical. The Company provided Nanjing Animal Pharmaceutical one-year loans amounting to RMB16 million carrying a simple interest of 8% per annum. Together with the loan, the Company was also entitled a conversion right to convert all or part of the loan into 3.33% equity interest of Nanjing Animal Pharmaceutical during the loan term. As of March 31, 2024, RMB 2 million was unpaid and recorded in accrued liabilities and other current liabilities. The Company recognized the investment under available for sale debt securities. It was measured and recognized at fair value on a recurring basis with changes in fair value recorded in other comprehensive loss. In April 2023, Nanjing Animal Pharmaceutical entered into an agreement with the Company to repay principal loan of RMB6 million with interest of RMB0.8 million. In addition, Nanjing Animal Pharmaceutical paid additional RMB1.06 million to the Company as compensation. The Company recorded the compensation income as As of March 31, 2023 and 2024, based on the valuation results, the Company re-measured the investment at fair value of RMB18.0 million and RMB10.3 million, respectively. For year ended March 31, 2023 and 2024, the unrealized securities holding gains (net of tax) of RMB0.83 million and losses (net of tax) of RMB1.7 million was recorded as other comprehensive loss, respectively. Equity securities with readily determinable fair values The following table summarizes the Company’s equity securities with readily determinable fair values as of March 31, 2023: Cost Gross Gross Fair Listed company 1,292 - (1,190 ) 102 The following table summarizes the Company’s equity securities with readily determinable fair values as of March 31, 2024: Cost Gross Gross Fair Listed company 1,292 - (1,253 ) 39 In June 2021, the Company purchased 40,000 ordinary shares of Better Choice Company Inc. (“BTTR”), a company registered on NYSE American and engaging in selling pet products with a total cash consideration of US$200,000. The Company reported in other gains, net.

Goodwill

Goodwill	12 Months Ended
	Mar. 31, 2024
Goodwill [Abstract]
Goodwill	12. Goodwill The changes in the carrying amount of goodwill for the years ended March 31, 2023 and 2024 were as follows: Total RMB Balance as of March 31, 2022 Goodwill 40,684 Accumulated impairment loss - 40,684 Transaction during the year Impairment (40,684 ) Balance as of March 31, 2023 Goodwill 40,684 Accumulated impairment loss (40,684 ) - Balance as of March 31, 2024 Goodwill 40,684 Accumulated impairment loss (40,684 ) - In the second half of fiscal year 2023, the Covid-19 resurgence in certain areas of China and the market downturn impact on our operations caused a triggering event for possible impairment of goodwill. Together with other indicators such as history of net losses and low market capitalization of us, as a result, management concluded the existence of the impairment indicator which required the Company to perform a quantitative goodwill impairment test as of March 31, 2023. Since there is only one reporting unit in the Company, management used the market capitalization to determine the reporting unit’s fair value. Based on quantitative goodwill impairment test, the fair value of the reporting unit was RMB119.8 million, which was lower than the carrying value of our net assets of RMB 217.8 million as of March 31, 2023, hence a full impairment charge of RMB40.7 million was recognized during the year ended March 31, 2023

Other Non-Current Assets

Other Non-Current Assets	12 Months Ended
	Mar. 31, 2024
Other Non-Current Assets [Abstract]
Other non-current Assets	13. Other non-current Assets As of As of 2023 2024 RMB RMB Deposits (a) 3,165 3,455 Long-term loan receivables (b) 3,421 - 6,586 3,455 (a) Deposits mainly consisted of rental deposits and deposit for online stores operated on third party platforms, which will be collected after one year. (b) From May 2021 to May 2022, the Company entered into interest free loan agreements with three third parties for total principal amounts of RMB3.4 million. The repayment terms of the loan agreements ranged from 24 months to 36 months with due dates from May 2024 to June 2025. As of March 31, 2023 and 2024, the balances of long-term loan receivables were RMB3.4 million and Nil

Accrued Liabilities and Other C

Accrued Liabilities and Other Current Liabilities	12 Months Ended
	Mar. 31, 2024
Accrued Liabilities and Other Current Liabilities [Abstract]
Accrued liabilities and other current liabilities	14. Accrued liabilities and other current liabilities Accrued liabilities and other current liabilities consist of the following: As of As of 2023 2024 RMB RMB Logistics expenses payables 7,663 5,154 Advances from customers 3,077 2,666 Payable for investment 2,563 2,563 Refund obligation of sales returns 3,113 2,240 Professional service fee accruals 1,694 1,705 Accrued advertising expenses 168 - Others 3,826 2,339 Total 22,104 16,667

Leases

Leases	12 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	15. Leases As of March 31, 20 and 2024, the Company has operating leases recorded on its consolidated balance sheet for certain office spaces and facilities that expire on various dates through 2027. The Company does not plan to cancel the existing lease agreements for its existing facilities prior to their respective expiration dates. When determining the lease term, the Company considers options to extend or terminate the lease when it is reasonably certain that it will exercise or not exercise that option. All of the Company’s leases qualify as operating leases. As of As of 2023 2024 RMB RMB Assets Operating lease right-of-use assets 22,354 8,951 Liabilities Operating lease liabilities, current 9,220 5,613 Operating lease liabilities, non-current 12,741 3,115 Total operating lease liabilities 21,961 8,728 Weighted average remaining lease term (years) 2.77 1.65 Weighted average discount rate 5.38 % 4.93 % Information related to operating lease activity during the years ended March 31, 2022, 2023 and 2024 are as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Operating lease right-of-use assets obtained in exchange for lease obligations 21,038 8,384 4,545 Operating lease related expenses Amortization of right-of-use assets 11,705 24,597 17,948 Interest of lease liabilities 1,949 1,777 199 13,654 26,374 18,147 Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Operating lease payments (included in measurement of lease liabilities) 12,849 26,397 17,977 Maturities of lease liabilities were as follows: Year ended March 31, 2024 RMB For the year ending March 31, 2025 6,559 2026 2,808 2027 365 Total lease payments 9,732 Less: imputed interest (1,004 ) Total 8,728

Interest Expense

Interest Expense	12 Months Ended
	Mar. 31, 2024
Interest Expense [Abstract]
Interest expense	16. Interest expense Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Amortization charges on promissory notes 17,144 9,706 5,058 Interest expense on borrowings 3,740 3,644 2,268 Total 20,884 13,350 7,326

Other Gains, Net

Other Gains, Net	12 Months Ended
	Mar. 31, 2024
Other Gains, Net [Abstract]
Other gains, net	17. Other gains, net Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Gain from the re-measurement of the previously held equity interests to the fair 127 - - Foreign exchange losses, net 5,322 2,679 1,089 Loss on disposal of other debts (Note 21) - - (1,425 ) Reimbursement from a depositary bank (a) 1,482 - - Investment (loss)/gain (622 ) (178 ) 1,820 Gain on disposal of a subsidiary (b) - 3,597 49 Discount on the ordinary shares issued by public offering (Note 19) - - (5,943 ) Others (289 ) (939 ) 416 Total 6,020 5,159 (3,994 ) (a) The Company received a reimbursement of US$0.2 million (equivalent to RMB1.5 million), Nil Nil (b) In August 2022, the Company disposed a subsidiary to a third-party investor and recognized an investment gain of RMB 3.6 million. In November 2023, the Company disposed a subsidiary and recognized an investment gain of RMB 0.05 million.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2024
Income Taxes [Abstract]
Income taxes	18. Income taxes Cayman Islands Under the current tax laws of Cayman Islands, the Company and its subsidiaries incorporated in the Cayman Islands are not subject to tax on income or capital gain. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. Hong Kong Under the current Hong Kong Inland Revenue Ordinance, the Company’s subsidiaries incorporated in Hong Kong are subject to a two-tiered profits tax rate of 8.25% and 16.5% on its taxable income generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to income tax. China On July 25, 2018, Boqii (Shanghai) Information Technology Co., Ltd. (“Shanghai Boqii”) was entitled to be “Software Enterprises”. According to the Enterprise Income Tax (“EIT”) Law and relevant regulations in the PRC, from the year of 2018, Shanghai Boqii could enjoy a tax holiday of 2-year EIT exemption and subsequently 3-year 12.5% preferential tax rate and the certificate expired until October 2023. In addition, Shanghai Boqii was also qualified as a “High and New Technology Enterprise (“HNTE”) on October 28, 2019, and is eligible to enjoy a preferential tax rate of 15% from 2019 to 2022 to the extent it has taxable income under the EIT Law, as long as it maintains the HNTE qualification and duly conducts relevant EIT filing procedures with the relevant tax authority. Shanghai Boqii can re-apply for the HNTE certificate when the prior certificate expires. Whilst Shanghai Boqii was entitled to the tax preferential treatments under both “HNTE” and “Software Enterprises”, Shanghai Boqii chose to apply the preferential tax rate of “Software Enterprises”. For the years ended March 31, 2022, 2023 and 2024, Shanghai Boqii was subject to EIT rate at 12.5%, 12.5% and 25%, respectively. The Company’s other subsidiaries, VIEs and VIEs’ subsidiaries established in the PRC are subject to the PRC general income tax rate of 25%. Reconciliations of the differences between the income tax expenses of the Company and the PRC statutory EIT rate applicable to losses of the consolidated entities are as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Loss before income taxes (134,812 ) (106,805 ) (69,875 ) Income tax computed at respective applicable tax rates (33,702 ) (26,701 ) (17,469 ) Effect of different tax jurisdiction 2,341 12,323 6,976 Super deduction for research and development expenses (a) (1,881 ) (456 ) (547 ) Non-deductible expenses 97 728 115 Change in valuation allowance 34,716 15,017 11,852 Total 1,571 911 927 (a) According to the relevant laws and regulations promulgated by the State Administration of Tax of the PRC, from 2013 onwards, enterprises engaging in research and development activities are entitled to claim 200% of their qualified research and development expenses so incurred as tax deductible expenses. The additional deduction of 100% of qualified research and development expenses (the “Super Deduction”) can be directly claimed in the annual EIT filing. For the years end March 31, 2022, 2023 and 2024, the Super Deduction for research and development expenses available to the Company amounted to RMB1.9 million, RMB0.5 million and RMB0.5 million, respectively. The provisions for income taxes for the years ended March 31, 2022, 2023 and 2024 differ from the amounts computed by applying the EIT primarily due to change in valuation allowance provided and tax differential from certain subsidiaries with preferential tax rates of the Company. The following table sets forth the effect of tax holiday effect on China operations: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Tax holiday effect 3,513 1,235 1,882 Basic and diluted net loss per share effect 0.05 0.02 0.02 Reconciliations between the effective income tax rate and the PRC statutory income tax rates are as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB PRC statutory income tax rates 25 % 25 % 25 % Tax holiday effect 3 % (1 )% (3 )% Difference in tax rates of subsidiaries outside PRC (8 )% (10 )% (5 )% Super deduction for research and development expenses 1 % 0 % 1 % Non-deductible expenses 0 % 1 % 0 % Change in valuation allowance (20 )% (14 )% (17 )% Effective income tax rate 1 % 1 % 1 % Composition of income tax expenses The current and deferred portions of income tax expenses included in the consolidated statements of operations and comprehensive loss are as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Current income tax expense/(benefit) (582 ) 78 (20 ) Deferred tax benefit (989 ) (989 ) (907 ) Income tax credit, net (1,571 ) (911 ) (927 ) Deferred tax assets and deferred tax liabilities Deferred taxes were measured using the enacted tax rates for the periods in which they are expected to be reversed. The tax effects of temporary differences that give rise to the deferred tax asset and liabilities balances as of March 31, 2023 and 2024 are as follows: As of As of 2023 2024 RMB RMB Deferred tax assets: Net accumulated loss-carry forward 163,526 150,667 Allowance 238 861 Contract liabilities 172 60 Accruals 842 889 Fair Value Change 1,891 2,778 Less: Valuation allowance (166,669 ) (155,255 ) Deferred tax liabilities: Recognition of intangible assets arising from asset acquisition and business combination (4,141 ) (3,234 ) As of March 31, 2023 and 2024, the PRC entities of the Company had tax loss carryforwards of approximately RMB654 million and RMB603 million respectively, which can be carried forward to offset taxable income. The carryforwards period for net operating losses under the EIT Law is five years. The net operating loss carry forward of the Company will expire in varying amounts between 2025 and 2029. Other than the expiration, there are no other limitations or restrictions upon the Company’s ability to use these operating loss carryforwards. Valuation allowance is provided against deferred tax assets when the Company determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Company considered factors including future taxable income exclusive of reversing temporary differences and tax loss carry forwards. If events occur in the future that allow the Company to realize part or all of its deferred income tax, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur. As of March 31, 2023 and 2024, valuation allowances of RMB166.7 million and RMB155.3 million were provided because it was more likely than not that the Company will not be able to utilize these tax losses carry forwards and other deferred tax assets generated by its subsidiaries and VIEs. Movement of valuation allowance is as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Beginning balance 149,978 177,247 166,669 Change of valuation allowance 27,269 15,017 11,852 Written-off for expiration of net operating losses - (22,995 ) (23,266 ) Decrease of valuation allowances related to the disposal of a subsidiary - (2,600 ) - Ending balance 177,247 166,669 155,255

Ordinary Share

Ordinary Share	12 Months Ended
	Mar. 31, 2024
Ordinary Share [Abstract]
Ordinary Share	19. Ordinary Share As of March 31, 2023, the Company had 55,763,079 Class A ordinary shares and 13,037,729 Class B ordinary shares issued and outstanding, respectively. As of March 31, 2024, the Company had 147,691,753 Class A ordinary shares and 13,037,729 Class B ordinary shares issued and outstanding, respectively. Initial public offering In October 2020, the Company completed its IPO on the New York Stock Exchange of 7,000,000 American Depositary Shares (“ADSs”) (including 1,050,000 ADSs sold upon the full exercise of the underwriters’ over-allotment option) (each representing 0.75 of one Class A ordinary share), for total ordinary shares offering of 5,250,000 shares at a price of US$10.00 per ADS. The net proceeds raised from the IPO amounted to approximately US$61 million after deducting underwriting discounts and commissions and other offering expenses. Upon the completion of the IPO, all series of redeemable convertible preferred shares of the Company were converted and designated as Class A ordinary shares with a par value of US$0.001 each on a one-for-one basis except for (i)10,340,000 shares of Series A preferred shares were automatic converted into 7,844,137 ordinary shares on a 1: 0.76 basis, (ii) 9,067,384 shares of Series B preferred shares were automatic converted into 8,557,980 ordinary shares on a 1:0.94 basis, (iii) 6,734,459 shares of Series C+ preferred shares were automatic converted into 6,883,520 ordinary shares on a 1:1.02 basis and (iv) 833,125 shares of Series C preferred shares were converted and designated as Class B ordinary shares with a par value of US$0.001 each on a one-for-one basis. 12,204,604 ordinary shares were designated as Class B ordinary share on a one-for-one basis. The remaining ordinary shares were designated as Class A ordinary shares on a one-for-one basis. In respect of all matters subject to shareholders’ vote, each holder of Class A ordinary share is entitled to one and each holder of Class B ordinary share is entitled to twenty votes. In February 2021, the Company repurchased 521,924 shares of Class A ordinary shares from one of its shareholders with a consideration amounting to US$4.8 million, the repurchased shares were cancelled thereafter. Public offering On July 28, 2023, the Company entered into a securities purchase agreement, as amended on August 16, 2023 with VG Master Fund SPC (“VG”), under which, subject to specified terms and conditions, the Company may sell and issue in its discretion, (i) up to $7,000,000 of our American depository shares and (ii) up to $35,000 of our ADSs being issued to VG as commitment shares, from time to time during the period commencing on July 28, 2023 and ending on the earlier of (i) the date on which VG shall have purchased a number of shares pursuant to the Purchase Agreement equal to $7,000,000 or (ii) July 28, 2024.The purchase price for ADS for each purchase will be equal to eighty percent (80%) of the lowest daily closing price of ADSs as reported on NYSE (as adjusted for any reorganization, recapitalization, non-cash dividend, share subdivision, share consolidation or other similar transaction) during the five business days beginning on and including the date that the third-party receives the written Purchase Notice. As of March 31, 2024, the Company has sold a total of 4,500,000 of the Company’s ADS with gross proceeds of US$3.3 million pursuant to the agreement. As of March 31, 2024, the Company has received gross proceeds of US$3.3 million. Accordingly, the Company recorded the discounted portion in other losses totaling RMB5.9 million. Private placement In September 2023, the Company entered into an agreement with certain non-U.S. investors to sell an aggregate of 15,000,000 shares of Class A ordinary shares at a price of $0.233 with a total consideration amounting to US$3.5 million. As of March 31,2024, the Company issued a total of 15,000,000 shares of Class A ordinary shares to the investors and received full consideration from them.

Redeemable Non-Controlling Inte

Redeemable Non-Controlling Interests	12 Months Ended
	Mar. 31, 2024
Redeemable Non-Controlling Interests [Abstract]
Redeemable non-controlling interests	20. Redeemable non-controlling interests Yoken Holding Limited (“Yoken”), a wholly owned subsidiary of the Company issued 120,000 redeemable preferred shares amounting to RMB6 million to a third-party investor in October, 2020. The preferred shares are redeemable at the holder’s option if Yoken fails to complete a qualified IPO in a pre-agreed period of time since its issuance with a redemption price measured by 10% interest per year. The preferred shares are therefore accounted for as redeemable non-controlling interests in mezzanine equity and are accreted to the redemption value over the period starting from the issuance date. The contract terms are the same as the Preferred Shares of the Company. For the years ended March 31 2022, 2023 and 2024, the Company recognized accretion of RMB0.6 million, RMB0.7 million and RMB0.8 million, respectively, to the respective redemption value of the redeemable non-controlling interest over the period starting from issuance date with a corresponding increase to the accumulated deficit. As of March 31, 2023 and 2024, the redeemable non-controlling interests was RMB7.2 million and RMB8.0 million, respectively. The following tables provides details of the redeemable non-controlling interests activity for the years ended March 31, 2022, 2023 and 2024: Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Beginning balance 5,947 6,522 7,197 Accretion of redeemable non-controlling interests 575 675 766 Ending balance 6,522 7,197 7,963

Borrowings, Other Debts and Der

Borrowings, Other Debts and Derivative Liabilities	12 Months Ended
	Mar. 31, 2024
Borrowings, Other Debts and Derivative Liabilities [Abstract]
Borrowings, Other Debts and Derivative Liabilities	21. Borrowings, other debts and derivative liabilities Short-term borrowings The following table presents short-term borrowings from commercial banks, other institutions and individuals as of March 31, 2023 and 2024. Short-term borrowings include borrowings with maturity terms shorter than one year: As of As of 2023 2024 RMB RMB Bank borrowings 86,261 15,213 Bank borrowings As of March 31, 2023 and 2024, the Company obtained short-term bank borrowings of RMB86.3 million and RMB15.2 million in aggregate, of which RMB63.9 million and Nil As of March 31, 2024, the Company has not obtained long-term bank borrowings and the unused facility for the long-term borrowings was Nil Future principal maturities of short-term borrowings and long-term borrowings as of March 31, 2023 and 2024 are as followings: Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB For the year ending March 31, - Within 1 year 86,261 15,213 Total 86,261 15,213 As of the date of this annual report, all the outstanding short-term borrowing as of March 31, 2024 was subsequently settled. Other debts Other debts – non-current consist of the following: As of As of 2023 2024 RMB RMB Loan from Chong Li (a) 73,981 10,000 Loan for Yoken Series A-1 Warrant (b) 27,346 32,441 Payable for investment 1,500 1,500 Total 102,827 43,941 (a) Loan from Chong Li Shanghai Guangcheng signed loan agreement with Chong Li in March 2020 (“Loan from Chong Li”). The loan was interest-free with a principal amount of RMB128 million. The term is 5 years and can be extended if agreed by both Chong Li and Shanghai Guangcheng. The Company accounted for Loan from Chong Li as a long-term debt initially recognized in the amount of RMB95 million (which is the present value of the principal amount of RMB128 million) and subsequently measured at amortized cost. During the years ended March 31, 2023 and 2024, the Company repaid the principal of Loan from Chong Li of RMB36.4 million and RMB6.8 million, respectively. For the years ended March 31, 2023 and 2024, the Company recorded interest expenses of RMB4.5 million and Nil The Company issued preferred shares to be settled by Superb Origin International Limited (“Superb Origin”, Chong Li is the 100% equity owner of Superb Origin) after Shanghai Guangcheng repaid the Loan from Chong Li. The Company recorded a receivable for issuance of preferred shares in the amount of RMB95 million (which is the present value of the principal amount of RMB128 million) in mezzanine equity for the consideration of the preferred shares not yet received from Superb Origin. After the completion of the IPO in October 2020, preferred shares were automatically converted into Class A ordinary shares. The Company then recorded the unreceived consideration from Superb Origin as receivable for issuance of ordinary shares under shareholders’ equity (Note 22). In September 2023, Shanghai Guangcheng entered into a debt waiver agreement with Chong Li, which provided that Chong Li waivered RMB75.28 million of the borrowings payable not yet paid by Shanghai Guangcheng. At the same time, the Company entered into a debt waiver agreement with Superb Origin, which provided that the Company would waive the outstanding investment amount of USD 11.25 million payable by Superb Origin to it. Accordingly, the Company offset the waiver amount against “other debts” and “receivable for issuance of ordinary shares” accordingly. For the years ended March 31, 2024, the Company recorded an investment loss of RMB 1.4 million on this transaction (Note 17). (b) Yoken Series A-1 Warrant On March 2, 2020, Yoken Holding Limited (“Yoken”), a wholly owned subsidiary of the Company, entered into a share purchase agreement with three investors (“Yoken Series A-1 SPA”). According to the Yoken Series A-1 SPA, Yoken will issue each investor a warrant (“Yoken Series A-1 Warrant”) to purchase certain quantity of Yoken’s Series A-1 Preferred Shares (“Yoken Series A-1 Preferred Shares”). As the consideration for each Yoken Series A-1 Warrant, the respective investor shall provide a loan (“Loan for Yoken Series A-1 Warrant”) carrying a simple interest of 10% per annum to Chengdu Chongaita Information Technology Co., Ltd. (“Chongaita”), a wholly owned PRC subsidiary of Yoken. Yoken will only issue the Yoken Series A-1 Warrants after Chongaita has received all loan proceeds. Both the issuance of the Yoken Series A-1 Warrants and the receipt of the loan proceeds are closing conditions of the transactions in the Yoken Series A-1 SPA. The Company accounted for the loan as a term loan carrying an annual simple interest of 10%. As of March 31, 2020, the carrying value of the loan proceeds of Yoken Series A-1 Warrant was RMB18 million. (b) Yoken Series A-1 Warrant (continued) On October 23, 2020, one of the investors terminated and entered into a new share purchase agreement with Yoken, pursuant to which 120,000 Yoken Series A-1 Preferred Shares were issued on October 23, 2020 for an aggregated consideration of RMB6 million. On the same day, the Company issued the remaining two investors two warrants to purchase up to 360,000 and 200,000 Yoken Series A-1 Preferred Shares at an exercise price per share of US$ 7.14 in connection with a loan of RMB18 million (equivalent to US$2.5 million) and RMB10 million (equivalent to US$1.4 million) granted to Chongaita (“Loan for Yoken Series A-1 Warrant”). As a debt modification, the Company reversed RMB1.4 million interest expense as other gains, net. The Company recognized the Yoken Series A-1 Warrant and bifurcated the conversion feature as derivative liability out of the total consideration received. As of March 31, 2023 and 2024, the carrying value of Yoken Series A-1 Warrant were RMB27.3 million and RMB32.4 million, respectively, and fair value of conversion feature were RMB7.9 million and RMB5.7 million, respectively. Derivative liabilities As of As of 2023 2024 RMB RMB Conversion feature of Yoken Series A-1 Warrant (a) 7,850 5,721 Forward exchange contracts (b) 2,851 - Total 10,701 5,721 For the initial recognition of each debt instrument that has a bifurcated derivative liability (i.e., embedded warrant or conversion feature), out of the total consideration received, the derivative liability is recognized at fair value and the remaining consideration (net of issuance costs) is then allocated to the host debt instrument. The derivative liability is subsequently carried at fair value with any changes in fair value recognized currently in the income statement. The host debt instrument is subsequently amortized using the effective interest rate method. Upon conversion of the host debt instrument into the Preferred Shares or debt repayment, both the host debt instrument and the respective derivative liability are subject to extinguishment accounting with a gain or loss recognized from the difference between the recoded values of both liabilities and the fair value of consideration given by the Company (i.e., the Preferred Shares or cash). (a) The warrant issued in connection with Yoken Series A-1 Warrant is embedded instead of freestanding because it is (1) issued in connection with the instrument and (2) not separately exercisable without terminating the debt instruments. Therefore, each combined instrument (loan with embedded warrant) is substantially similar to a convertible debt where the embedded warrant is similar to a conversion feature able to convert the debt instrument into the Preferred Shares. The Company assessed the embedded warrant along with the conversion features in Yoken Series A-1 Warrant and concluded that it is required to be bifurcated and accounted for separately as derivative liabilities. This is because (1) the embedded warrant or conversion feature, as an equity-linked feature, is not considered clearly and closely related to its debt host instrument, and (2) the redemption rights of the convertible Preferred Shares could give rise to net settlement of the conversion feature of the Preferred Shares. (b) In June and December 2021 and March 2022, the Company entered three new forward exchange contracts with a financial institution. Pursuant to which, the financial institution agreed to purchase US$8 million, US$4 million and US$5 million from the Company in exchange of RMB52.4 million, RMB26.1 million and RMB32.1 million at a fixed foreign exchange rate of 6.5452, 6.5128 and 6.4200 on June 2022, December 2022 and March 2023, respectively. The Company settled in advance with amount of US$11 million and recorded the fair value gain in the amount of RMB1.2 million as fair value change of derivative liabilities. For the year ended March 31, 2022, the fair value gain of the rest forward exchange contracts was RMB0.9 million and was recorded as fair value change of derivative liabilities In December 2022 and March 2023, the forward exchange contracts which signed in December 2021 and March 2022 were renewed to December 2023 and March 2024 respectively. And the Company settled in advance with amount of US$1.5 million and recorded the fair value gain in the amount of RMB0.1 million as fair value change of derivative liabilities. For the year ended March 31, 2023, the fair value loss of the rest forward exchange contracts was RMB(3.6) million and was recorded as fair value change of derivative liabilities. The carrying value of the remaining forward exchange contracts was RMB2.9 million and was recorded as derivative liabilities. The forward exchange contracts which signed in December 2021 and March 2022 had expired in December 2023 and March 2024 and the company paid RMB1.25 million and RMB4.76 million respectively to the bank to close the transactions, resulting in a cumulative loss of RMB (3.2) million recorded as fair value change of derivative liabilities. As of March 31, 2024, the carrying value of the forward exchange contracts was Nil

Receivable for Issuance of Ordi

Receivable for Issuance of Ordinary Shares	12 Months Ended
	Mar. 31, 2024
Receivable for Issuance of Ordinary Shares [Abstract]
Receivable for issuance of ordinary shares	22. Receivable for issuance of ordinary shares The Company issued preferred shares to investors, which to be settled by the investors after Shanghai Guangcheng repaid the Loan from CMB and Loan from Chong Li to the investors. The Company recorded a receivable for issuance of preferred shares in mezzanine equity for the consideration of the preferred shares not yet received from the investors. After the completion of the IPO in October 2020, the preferred shares were automatically converted into Class A ordinary shares. The Company accounted for the consideration of such-converted ordinary shares as receivable for issuance of ordinary shares under shareholders’ equity. In September 2023, Shanghai Guangcheng entered into a debt waiver agreement with Chong Li, which provided that Chong Li waivered RMB75.28 million of the borrowings payable not yet paid by Shanghai Guangcheng (Note 21). At the same time, the Company entered into a debt waiver agreement with Superb Origin, which provided that the Company would waive the outstanding investment amount of USD 11.25 million payable by Superb Origin to it. Accordingly, the Company offset the waiver amount against “other debts” and “receivable for issuance of ordinary shares” accordingly. During the years ended March 31, 2023 and 2024, the Company received RMB87.9 and RMB8.8 million from the receivable for issuance of ordinary shares. For the years ended March 31, 2023 and 2024, the Company recorded interest income of RMB6.1 million and Nil

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Mar. 31, 2024
Share-Based Compensation [Abstract]
Share-based compensation	23. Share-based compensation On September 27, 2012, the Company adopted 2012 Global Share Plan (the “2012 Plan”) and reserved 1,061,500 ordinary shares for share options to be granted to certain of the Company’s employees and non-employees (the “Participants”). On August 1, 2018, the Company adopted 2018 Global Share Plan (the “2018 Plan”) to replace the 2012 Plan and increased the reserved ordinary shares to 5,987,836 in total for future grants of share options. Except for share options granted to certain senior management personnel during the years ended March 31, 2015 and 2016, which were immediately fully vested and exercisable once granted, other share options granted to employees and non-employees under the 2012 and 2018 Plans would generally be exercisable upon the Company completion of a Qualified IPO or a defined corporate transactions (i.e. change of control, etc.) and the employees render services to the Company in accordance with the stipulated service schedules. The employee participants are generally subject to a four-year service schedule, under which the employees earn an entitlement to vest in 25% of their option grants at the end of each year of completed service. For the years ended March 31, 2023 and 2024, Nil share options were granted to the Participants respectively. The following table sets forth the share options activity for the years ended March 31, 2023 and 2024: Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value Weighted average fair value US$ US$ US$ Outstanding as of March 31, 2022 5,231,891 2.86 5.25 404 2.36 Exercisable as of March 31, 2022 - - - - - Exercised (53,488 ) 0.60 - - 2.26 Forfeited (1,233,050 ) 1.31 - - 0.86 Outstanding as of March 31, 2023 3,945,354 2.58 3.45 124 2.06 Exercisable as of March 31, 2023 - - - - - Granted 9,511,720 0.23 - - 0.01 Exercised (37,741 ) 0.10 - - 0.17 Forfeited (3,031,811 ) 3.40 - - 3.44 Outstanding as of March 31, 2024 10,387,522 0.35 8.95 0 0.12 Exercisable as of March 31, 2024 - - - - - The aggregate intrinsic value is calculated as the difference between the exercise price of the options and the estimated fair value of the underlying shares of US$404,409, US$123,594 and US$86 at March 31, 2022, 2023 and 2024, respectively. As of March 31, 2023 and 2024, there were US$322,926 and US$11,964 of unrecognized share-based compensation expenses related to share options granted by the Company, which were expected to be recognized over a weighted-average period of 3.4 years and 8.9 years, respectively. Options granted to the Participants were measured at fair value on the dates of grant using the Binomial Option Pricing Model. The assumptions used to value the Company’s option grants for the year ended March 31, 2024 were as follows: Year ended Expected volatility 50.27%-53.83% Risk-free interest rate 3.56%-4.04% Exercise multiple 2.8/2.2 Expected dividend yield 0% Contractual term (in years) 10 The expected volatility was estimated based on the historical volatility of comparable peer public companies with a time horizon close to the expected term of the Company’s options. The risk-free interest rate was estimated based on the yield to maturity of U.S. treasury bonds denominated in US$ for a term consistent with the expected term of the Company’s options in effect at the option valuation date. The expected exercise multiple was estimated as the average ratio of the stock price to the exercise price of when employees would decide to voluntarily exercise their vested options. As the Company did not have sufficient information of past employee exercise history, it was estimated by referencing to a widely-accepted academic research publication. The expected dividend yield is zero as the Company has never declared or paid any cash dividends on its shares, and the Company does not anticipate any dividend payments in the foreseeable future. The expected term is the contract life of the option. For the Company’s share options granted to the Participants, the completion of a Qualified IPO is considered to be a performance condition of the awards. A Qualified IPO is not considered to be probable until it is completed. Under ASC 718, compensation cost should be accrued if it is probable that the performance condition will be achieved. As a result, no compensation expense will be recognized related to these options until the completion of a Qualified IPO, and hence no share-based compensation expense was recognized for the year ended March 31, 2020. For the year ended March 31, 2021, upon the completion of the IPO , the Company recorded RMB55 million of share-based compensation expense. For the year ended March 31, 2023 and 2024, RMB (7.7) million and RMB0.7 million of share-based compensation expense was recorded, respectively. The fair value of options granted to the Participants for the years ended March 31, 2023 and 2024 was amounting to Nil

Employee Benefits

Employee Benefits	12 Months Ended
	Mar. 31, 2024
Employee Benefits [Abstract]
Employee benefits	24. Employee benefits The full-time employees of the Company’s subsidiaries and VIEs that are incorporated in the PRC are entitled to staff welfare benefits including medical insurance, basic pensions, unemployment insurance, work injury insurance, maternity insurance and housing funds. These companies are required to contribute to these benefits based on certain percentages of the employees’ salaries in accordance with the relevant regulations and charge the amount contributed to these benefits to the consolidated statements of operations and comprehensive loss. The Company has no legal obligation for the benefits beyond the contribution made. The PRC government is responsible for the welfare and medical benefits and ultimate pension liability to these employees. The total amounts charged to the consolidated statements of operations and comprehensive loss for such employee benefits amounted to RMB7 million, RMB9 million and RMB8 million for the years ended March 31, 2022, 2023 and 2024, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2024
Fair Value Measurements [Abstract]
Fair value measurements	25. Fair value measurements The Company measured its short-term investments, available-for-sale investments, equity securities with readily determinable fair values and derivative liabilities at fair value on a recurring basis. Equity securities classified within Level 1 are valued using quoted market prices that currently available on a securities exchange registered on NYSE American. Short-term investments classified within Level 2 are valued using directly or indirectly observable inputs in the marketplace. As the The following table summarizes the Company’s financial assets and liabilities measured and recorded at fair value on recurring basis as of March 31, 2023 and 2024: Fair value measurement at reporting date using Description Fair value Quoted price in Significant other Significant RMB RMB RMB RMB Assets: Short-term investments 69,797 - 69,797 - Available-for-sale debt investments 68,011 - - 68,011 Equity securities with readily determinable fair values 102 102 - - Total assets 137,910 102 69,797 68,011 Liabilities: Derivative liabilities 10,701 - - 10,701 Fair value measurement at reporting date using Description Fair value Quoted price in Significant Significant RMB RMB RMB RMB Assets: Short-term investments - - - - Available-for-sale debt investments 58,465 - - 58,465 Equity securities with readily determinable fair values 39 39 - - Total assets 58,504 39 - 58,465 Liabilities: Derivative liabilities 5,721 - - 5,721 The roll forward of major Level 3 investments are as following: Derivative Available- Fair value of Level 3 investments as at March 31, 2021 9,996 71,357 New addition - 16,000 Reclassification of forward exchange contracts 746 - Unrealized fair value change of the derivative liabilities (1,656 ) - Unrealized fair value change of the available-for-sale debt investments - (12,491 ) Fair value of Level 3 investments as at March 31, 2022 9,086 74,866 Reclassification of forward exchange contracts (651 ) - Unrealized fair value change of the derivative liabilities 2,266 - Unrealized fair value change of the available-for-sale debt investments - (6,427 ) Disposal of available-for-sale debt investments - (428 ) Fair value of Level 3 investments as at March 31, 2023 10,701 68,011 Reclassification of forward exchange contracts (6,014 ) Unrealized fair value change of the derivative liabilities 1,034 - Unrealized fair value change of the available-for-sale debt investments - (3,546 ) Disposal of available-for-sale debt investments - (6,000 ) Fair value of Level 3 investments as at March 31, 2024 5,721 58,465 The Company determined the fair value of their investments by using equity allocation model, market approach and binomial model. The determination of the fair value was based on estimates, judgments and information of other comparable public companies. The significant unobservable inputs adopted in the valuation as of March 31, 2023 and 2024: As of As of 2023 2024 Implied price to sales after discount for lack of marketability 1.04x 0.95x Weighted average cost of capital n.a. n.a. Lack of marketability discount 20% 20%, 28%, 32% Risk-free rate 2.60%, 2.31%, 2.19% 1.87%, 2.08%, 2.17% Expected volatility 47.19%, 43.65%, 32.08% 41.55%, 43.47%, 45.49% Probability Liquidation scenario: 35%, 40% Liquidation scenario: 40%, 35% The significant unobservable inputs used in the fair value measurement of the fair value of the investments include weighted average cost of capital, implied price to sales after discount for lack of marketability, lack of marketability discount, risk-free rate, expected volatility and probabilities of different scenarios. Significant increases in lack of marketability discount and risk-free rate would result in a significantly lower fair value measurement. Significant decreases in expected volatility would result in a significantly lower fair value measurement. If the probabilities of redemption and liquidation scenarios are assumed to keep equal, significant increases in the probability of IPO scenario would result in a significantly lower fair value measurement. The Company determined the fair value of their derivative liabilities by using binominal model. The determination of the fair value was based on estimates, judgments and information of other comparable public companies. The significant unobservable inputs adopted in the valuation as of March 31, 2023 and 2024 are as follows: As of As of 2023 2024 Spot price (US$) 5.90 5.90 Risk-free rate 3.83 % 4.91 % Expected volatility 61.13 % 58.28 % Expected expiry years (in years) 2.60 1.60 The significant unobservable inputs used in the fair value measurement of the derivative liabilities include spot price, risk-free rate, expected volatility and expected expiry years. Significant decreases in spot price, risk-free rate, expected volatility and expected expiry years would result in a significantly lower fair value measurement.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Mar. 31, 2024
Net Loss Per Share [Abstract]
Net loss per share	26. Net Loss per share Basic loss per share and diluted loss per share have been calculated in accordance with ASC 260 on computation of earnings per share for the years ended March 31, 2022, 2023 and 2024, respectively, as follows: Year Ended Year Ended Year Ended RMB RMB RMB Numerator: Net loss attributable to Boqii Holding Limited (128,390 ) (102,799 ) (63,664 ) Accretion on the Redeemable non-controlling interests to redemption value (Note 20) (575 ) (675 ) (766 ) Net loss attributable to ordinary shareholders (128,965 ) (103,474 ) (64,430 ) Denominator: Weighted average number of ordinary shares used in computing net loss per share, Basic and diluted (Note (a)) 68,006,172 68,858,823 100,637,760 Net loss per share attributable to ordinary shareholders: Basic and diluted (1.90 ) (1.50 ) (0.64 ) Note (a): Options exercisable for a minimal exercise price (the “Penny Stock”) are included in the denominator of basic loss per share calculation once there are no further vesting conditions or contingencies associated with them, as they are considered issuable shares. Basic net loss per share is computed using the weighted average number of ordinary shares outstanding and the Penny Stock during the reporting periods. Diluted net loss per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding and the Penny Stock during the reporting periods. For the years ended March 31, 2023 and 2024, assumed share options have not been reflected in the dilutive calculations pursuant to ASC 260, “Earnings Per Share,” due to the anti-dilutive effect. The following ordinary shares equivalent were excluded from the computation of diluted loss per ordinary share for the periods presented because including them would have had an anti-dilutive effect: Year Ended Year Ended Year Ended Share options - weighted average 719,437 591,418 488,853

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related party transactions	27. Related party transactions The table below sets forth the major related parties and their relationships with the Company as of March 31, 2022, 2023 and 2024: Name of related parties Relationship with the Company Nanjing Animal Pharmaceutical An equity investee of the Company until December, 2022 Wuhan Chunzhijin An equity investee of the Company Weishi Network An equity investee of the Company Beijing Petdog An available-for-sale debt investee that the Company has significant influence Shanghai Guangcheng Information Technology (limited partnership) A company with a common director of the Company MERCHANT TYCOON LIMITED A shareholder of the Company SUPERB ORIGIN INTERNATIONAL LIMITED A shareholder of the Company Yingzhi (Lisa) Tang Senior management of the Company Yan Jiang Senior management of the Company Di (Jackie) Chen Senior management of the Company until July, 2021 Ying (Christina) Zhang Senior management of the Company until February, 2022 Fei Wang Senior management of the Company until April, 2022 Lijun Zhou Senior management of the Company until April, 2022 Details of related party transactions are as follows: Year Ended March 31, 2022 Year Ended March 31, Year Ended March 31, RMB RMB RMB Online marketing and information services Weishi Network 19 - - 19 - - Purchase of merchandise Weishi Network 1,582 - - Nanjing Animal Pharmaceutical 1,020 1,402 3,891 2,602 1,402 3,891 Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Loans granted to related parties Shanghai Guangcheng Information (a) 33,395 - - Wuhan Chunzhijin (b) 2,600 2,720 4,761 MERCHANT TYCOON LIMITED - 100 - Yingzhi (Lisa) Tang 1,750 - - Lijun Zhou 300 - - Yan Jiang 70 - - 38,115 2,820 4,761 (a) In April 2021, the Company granted Shanghai Guangcheng Information a short-term loan with a total principal amount of RMB33.4 million (equivalent to USD 5 million), bearing an interest rate of 3.5% per annum. The loan was fully repaid by March 31, 2022. (b) The Company entered into a loan agreement with Wuhan Chunzhijin to provide Wuhan Chunzhijin with an interest-free loan of up to RMB10 million, which will be repaid on demand. In March 2023, the company converted RMB3.4 million loan to Wuhan Chunzhijin into equity interest. (Detail refer to Note 11). Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Advances provided to related parties SUPERB ORIGIN INTERNATIONAL LIMITED (b) - 5,497 - Nanjing Animal Pharmaceutical (c) - 350 5,413 - 5,847 5,413 Loans granted from related parties Shanghai Guangcheng Information (a) 9,961 - - (a) In April 2021, the Company obtained a total loan facility up to USD 5 million from Shanghai Guangcheng Information. During the year ended March 31, 2022, the Company drew down a total amount of USD 1.5 million (equivalent to RMB10.0 million) from the loan facility, with interest bearing at 3.5% per annum. The loan was fully repaid by March 31, 2022. (b) In January 2023, the Company made an advance payment of RMB 5.5 million to SUPERB ORIGIN INTERNATIONAL LIMITED for the purchase of goods. As of March 31, 2023 and 2024, the balance of the advance payment was RMB 5.5 million and RMB 4.1 million respectively, both of which are recorded as Prepayments to related parties. (c) During the years ended March 31, 2023, and 2024, the Company made advance payments totaling RMB 0.35 million and RMB5.4 million, respectively, to Nanjing Animal Pharmaceutical for the purchase of goods. As of March 31, 2023, and 2024, there were goods valued at RMB 2.0 million and Nil Prepayments to related parties. Details of related party balances are as follows: Amounts due from related parties As of As of As of 2022 2023 2024 RMB RMB RMB Prepayments to related parties SUPERB ORIGIN INTERNATIONAL LIMITED - 5,497 4,065 Nanjing Animal Pharmaceutical 1,650 2,000 - Weishi Network 1,582 1,582 1,401 3,232 9,079 5,466 Other receivables from related parties Wuhan Chunzhijin 7,594 2,988 5,658 Loans to related parties Yan Jiang 200 200 211 Fei Wang (a) 500 - - Lijun Zhou 200 - - Shanghai Guangcheng Information - - 27 MERCHANT TYCOON LIMITED - 100 - 900 300 238 (a) In January 2021, the Company entered into a one-year loan agreement with Fei Wang, for a principal amount of RMB0.5 million, bearing an interest rate of 4% per annum. This loan was pledged by 515,000 stock options owned by Fei Wang. In December 2022, the loan contract was renewed to December 2024 and was recorded as prepayments and other current assets as of March 31, 2024. Amounts due to related parties As of As of As of 2022 2023 2024 RMB RMB RMB Trade payables to related parties Nanjing Animal Pharmaceutical 219 471 -

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2024
Commitments and Contingencies [Abstract]
Commitments and contingencies	28. Commitments and contingencies (a) Capital commitments The Company’s capital commitments primarily relate to commitments on leasehold improvement and purchase of equipment. As of March 31, 2023 and 2024, no capital commitment was related to leasehold improvement and purchase of equipment. (b) Contingencies The Company is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome arising out of any such matter will have a material adverse effect on our consolidated financial position, cash flows or results of operations on an individual basis or in the aggregate. As of March 31, 2023 and 2024, the Company is not a party to any material legal or administrative proceedings.

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent events	29. Subsequent events No subsequent event which had a material impact on the Company was identified through the date of issuance of the financial statements.

Restricted Net Assets

Restricted Net Assets	12 Months Ended
	Mar. 31, 2024
Restricted Net Assets [Abstract]
Restricted net assets	30. Restricted net assets The Company’s ability to pay dividends may depend on the Company receiving distributions of funds from the Company’s subsidiaries and the VIEs incorporated in the PRC In accordance with the Company law of the PRC, a domestic enterprise is required to provide statutory reserves of at least 10% of its annual after-tax profit until such reserve has reached 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. A domestic enterprise is also required to provide discretionary surplus reserve, at the discretion of the Board of Directors, from the profits determined in accordance with the enterprise’s PRC statutory accounts. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The Company’s PRC subsidiaries were established as domestic invested enterprises and therefore are subject to the above mentioned restrictions on distributable profits. For the years ended March 31, 2022, 2023 and 2024, appropriation to statutory reserves was made because two PRC subsidiaries had generated profits for these periods. As a result of these PRC laws and regulations subject to the limit discussed above that require annual appropriations of 10% of after-tax income to be set aside, prior to payment of dividends, as general reserve fund, the Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. Foreign exchange and other regulations in the PRC further restrict the Company’s PRC subsidiaries from transferring funds to the Company in the form of dividends, loans and advances. As of March 31, 2024, the total restricted net assets of the Company’s subsidiaries and the VIEs incorporated in the PRC and subjected to restriction amounted to Nil Rules 12-04(a) and 4-08(e)(3) of Regulation S-X require condensed financial information as to the financial position, cash flows and results of operations of a parent company as of and for the same periods for which the audited consolidated financial statements have been presented when the restricted net assets of the consolidated and unconsolidated subsidiaries together exceed 25% of consolidated net assets as of the end of the most recently completed fiscal year. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance S-X Rule4-08 (e)(3) and concluded that it was not applicable for the Company to disclose the financial statements for the parent company since the 25% threshold was not met for the year ended March 31, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)
Pay vs Performance Disclosure
Net Income (Loss)	¥ (63,664)	$ (8,817)	¥ (102,799)	¥ (128,390)

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Mar. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Mar. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Role of Management [Text Block]	We have implemented comprehensive cybersecurity risk assessment procedures to ensure effectiveness in cybersecurity management, strategy and governance and reporting cybersecurity risks.
Cybersecurity Risk Management Processes Integrated [Text Block]	We have also integrated cybersecurity risk management into our overall enterprise risk management system.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Board is responsible for overseeing our cybersecurity risk management.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true

Material Cybersecurity Incident

Material Cybersecurity Incident Disclosure	12 Months Ended
	Mar. 31, 2024
Material Cybersecurity Incident [Line Items]
Material Cybersecurity Incident Information Not Available or Undetermined [Text Block]	As of the date of this annual report, we have not experienced any material cybersecurity incidents or identified any material cybersecurity threats that have affected or are reasonably likely to materially affect us, our business strategy, results of operations or financial condition.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Mar. 31, 2024
Principal Accounting Policies [Abstract]
Basis of preparation	(a) Basis of preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.
Basis of consolidation	(b) Basis of consolidation The Company’s consolidated financial statements include the financial statements of the Company, its subsidiaries, the consolidated VIEs and VIEs’ subsidiaries for which the Company is the primary beneficiary. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A consolidated VIE is an entity in which the Company, or its subsidiaries, through Contractual Agreements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiaries are the primary beneficiary of the entity. All transactions and balances among the Company, its subsidiaries, the consolidated VIEs and VIEs’ subsidiaries have been eliminated upon consolidation .
Business combination and non-controlling interests	(c) Business combination and non-controlling interests The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations In a business combination achieved in stages, the Company re-measures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement gain or loss, if any, is recognized in the consolidated statements of operations and comprehensive loss. When there is a change in ownership interests or a change in contractual arrangements that results in a loss of control of a subsidiary or consolidated VIE, the Company deconsolidates the subsidiary or consolidated VIE from the date control is lost. Any retained non-controlling investment in the former subsidiary or consolidated VIE is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary or consolidated VIE. For the Company’s consolidated subsidiaries, VIEs and VIEs’ subsidiaries, non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. Non-controlling interests are classified as a separate line item in the equity section of the Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated statements of operations and comprehensive loss to distinguish the interests from that of the Company.
Use of estimates	(d) Use of estimates The preparation of the Company’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company believes that assessment for impairment of long-lived assets and valuation of available-for-sale debt securities require significant judgments and estimates used in the preparation of its consolidated financial statements. Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. On an ongoing basis, management evaluates its estimates based on information that is currently available. Changes in circumstances, facts and experience may cause the Company to revise its estimates. Changes in estimates are recorded in the period in which they become known. Actual results could materially differ from these estimates.
Functional currency and foreign currency translation	(e) Functional currency and foreign currency translation The Company’s reporting currency is Renminbi (“RMB”). The functional currency of the Company’s entities incorporated in Cayman Islands, British Virgin Islands and Hong Kong is the United States dollars (“US$”). The Company’s PRC subsidiaries, consolidated VIEs and VIEs’ subsidiaries determined their functional currency to be RMB. The determination of the respective functional currency is based on the criteria of ASC 830, Foreign Currency Matters Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in other than the functional currency are translated at the balance sheet date exchange rate. The resulting exchange differences are included in the consolidated statements of operations and comprehensive loss as other gains, net. The financial statements of the Company are translated from the functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into RMB at the appropriate historical rates. Revenues, expenses, gains and losses are translated into RMB using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in accumulated other comprehensive loss as a component of shareholders’ equity. The exchange rates used for translation on March 31, 2023 and 2024 were US$1.00= RMB 6.8717 and RMB 7.0950, respectively, representing the index rates stipulated by the People’s Bank of China.
Convenience translation	(f) Convenience translation Translations of the consolidated balance sheets, the consolidated statements of operations and comprehensive loss and the consolidated statements of cash flows from RMB into US$ as of and for the year ended March 31, 2024 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB 7.2203, representing the certificated exchange rate published by the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on March 31, 2024, or at any other rate.
Fair value of financial instruments	(g) Fair value of financial instruments Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities. Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial assets and liabilities of the Company mainly consist of cash and cash equivalents , accounts receivable, amounts due from related parties, prepayments and other current assets, available-for-sale debt investments, accounts payable, short-term borrowings, derivative liabilities, accrued liabilities and other current liabilities, amounts due to related parties, and other debts. As of March 31, 2023 and 2024, except for available-for-sale debt investments and derivative liabilities, carrying values of cash and cash equivalents, short-term investments, accounts receivable, amounts due from related parties, certain prepayments and other current assets
Cash and cash equivalents	(h) Cash and cash equivalents Cash and cash equivalents include cash on hand and time deposits placed with banks and third-party payment processors, which are unrestricted as to withdrawal or use, have original maturities of three months or less at the time of purchase and are readily convertible to known amounts of cash.
Short-term investments	(i) Short-term investments Short-term investments comprise primarily of (i) cash deposits at fixed rates with original maturities of greater than three months, but less than 12 months and; (ii) the investments issued by commercial banks or other financial institutions with a variable interest rate indexed to the performance of underlying assets within one year. As of March 31, 2023, RMB70 million short-term investments were used as collateral of the short-term borrowings amount to RMB64 million. As of March 31, 2024, there was short-term investments of Nil
Accounts receivable, net	(j) Accounts receivable, net Accounts receivables are stated at the amount management expects to collect from customers based on their outstanding invoices. Prior to April 1, 2023, the Company monitors the collection of its receivables and records allowance for specifically identified non-recoverable amounts, If the economic situation and the financial condition of a customer deteriorate resulting in an impairment of the customer’s ability to make payments, additional allowances might be required. Receivable balances are written off when they are determined to be uncollectible. Starting from April 1, 2023, the Company adopted ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments” (“ASC Topic 326”), which creates an impairment model that is based on expected losses rather than incurred losses. To estimate the allowance for current expected credit losses (“CECL”). the Company has identified the relevant risk characteristics of its customers and the related receivables and other receivables which include but are not limited to geographic region and industry. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Company considers the past collection history, future forecasts and macroeconomic factors. Other key factors that influence the CECL, analysis include industry-specific factors and certain qualitative adjustments that could impact the Company’s receivables. This is assessed at each period end based on the Company’s specific facts and circumstances. The Company used a modified retrospective approach to adopt ASC Topic 326, and the cumulative-effect to retained earnings was RMB2.8 million.
Inventories	(k) Inventories Inventories are stated at the lower of cost and net realizable value. Cost elements of our inventories comprise the purchase price of products, vendor rebates, shipping charges to receive products from the suppliers when they are embedded in the purchase price. Cost is determined using the first-in first-out method. Provisions are made for excessive, slow moving, expired and obsolete inventories as well as for inventories with carrying values in excess of market. Certain factors could impact the realizable value of inventory, so the Company continually evaluates the recoverability based on assumptions about customer demand and market conditions. The evaluation may take into consideration historical usage, inventory aging, expiration date, expected demand, anticipated sales price, new product development schedules, the effect new products might have on the sale of existing products, product obsolescence, customer concentrations, and other factors. The reserve or write-down is equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory reserves or write-downs may be required that could negatively impact the Company’s gross margin and operating results. If actual market conditions are more favorable, the Company may have higher gross margin when products that have been previously reserved or written down are eventually sold.
Property and equipment, net	(l) Property and equipment, net Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is calculated on a straight-line basis over the following estimated useful lives. The estimated useful lives are as follows: Useful years Warehouse equipment 3 - 5 years Furniture, computer and office equipment 3 - 5 years Vehicles 5 years Software 10 years Leasehold improvements Over the shorter of the expected life of Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of operations and comprehensive loss.
Intangible assets, net	(m) Intangible assets, net Intangible assets purchased from third parties are initially recorded at cost. The Company performs valuation of the intangible assets arising from business combinations to determine the relative fair value to be assigned to each asset acquired. The intangible assets are amortized using the straight-line method over the estimated useful lives of the assets. The estimated useful lives of intangible assets are as follows: Useful years Trademark 10 years Dealership 10 years License 4.5 years The estimated life of amortized intangibles is reassessed if circumstances occur that indicate the life has changed.
Goodwill	(n) Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a business combination. Goodwill is not amortized but is tested for impairment on an annual basis as of March 31, and in between annual tests when an event occurs, or circumstances change that could indicate that the asset might be impaired. In accordance with ASU No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of step 2 of the goodwill impairment test. Management conducts its goodwill impairment assessment as of March 31 annually or more frequently if events or changes in circumstances indicate that it may be impaired. The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, so as to perform the quantitative goodwill impairment test. If determined to be necessary, the quantitative impairment test is used to identify goodwill impairment by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. There is only one reporting unit in the Company. Therefore, the goodwill assessment was performed for the Company on consolidated level as one reporting unit.
Long-term investments	(o) Long-term investments The Company’s investments include equity method investments, equity securities with readily determinable fair values and available-for-sale debt securities. The Company applies the equity method of accounting to account for an equity investment, in common stock or in-substance common stock, according to ASC 323 “Investment—Equity Method and Joint Ventures”, over which it has significant influence but does not own a majority equity interest or otherwise control. Under the equity method, the Company’s share of the post-acquisition profits or losses of the equity investees are recorded in share of results of equity investees in the consolidated statements of operations and comprehensive loss. The excess of the carrying amount of the investment over the underlying equity in net assets of the equity investee, if any, represents goodwill and intangible assets acquired. When the Company’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Company does not recognize further losses, unless the Company has incurred obligations or made payments or guarantees on behalf of the equity investee. Equity securities with readily determinable fair values are measured and recorded at fair value on a recurring basis with changes in fair value, whether realized or unrealized, recorded through the income statement. Debt securities that the Company has the intent to hold the security for an indefinite period or may sell the security in response to the changes in economic conditions are classified as available-for-sale debt securities and reported at fair value. Unrealized gains and losses (other than impairment losses) are reported, net of the related tax effect, in other comprehensive loss. Upon sale, realized gains and losses are reported in net income (loss). The Company continually reviews its investments to determine whether a decline in fair value to below the carrying value is other than temporary. The primary factors the Company considers in its determination are the duration and severity of the decline in fair value; the financial condition, operating performance and the prospects of the equity investee; and other company specific information such as recent financing rounds. If the decline in fair value is deemed to be other-than-temporary, the carrying value of the investment is written down to fair value.
Impairment of long-lived assets other than goodwill	(p) Impairment of long-lived assets other than goodwill Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets.
Revenue recognition	(q) Revenue recognition In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”) and subsequently, the FASB issued several amendments which amends certain aspects of the guidance in ASC 2014-09 (ASU No. 2014-09 and the related amendments are collectively referred to as “ASC 606”). According to ASC 606, revenue is recognized when control of the promised good or service is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Consistent with the criteria of Topic 606, the Company follows five steps for its revenue recognition: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. Revenue arrangements with multiple performance obligations are divided into separate distinct goods or services. The Company allocates the transaction price to each performance obligation based on the relative standalone selling price of the goods or services provided. When either party to a contract has performed, the Company presents the contract in the statement of financial position as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A receivable is recorded when the Company has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. A contract asset is recorded when the Company has transferred products or services to the customer before payment is received or is due, and the Company’s right to consideration is conditional on future performance or other factors in the contract. No contract asset was recorded as of March 31, 2023 and 2024. The Company’s contract liabilities consist of payments received or awards to customers (in the form of Boqii Beans) related to unsatisfied performance obligations at the end of the period. As of April 1, 2022 and 2023, the Company’s total contract liabilities were RMB7.0 million and RMB4.5 million, respectively, of which RMB3.0 million and RMB3.7 million were recognized as revenue for the years ended March 31, 2023 and 2024. The Company’s total unearned revenue was RMB1.6 million as of March 31, 2024. Revenue is recorded net of value-added tax. Revenue recognition policies for each type of revenue steam are as follows: Sales of merchandise The Company primarily sells pet products through . Besides online sales, the Company also sells products through offline channels to its business customers and pet stores across the country. The Company recognizes the product revenues from products sales on a gross basis as the Company is acting as a principal in these transactions. The Company has obtained control of the products before they are transferred to customers. The Company is primarily obligated in these transactions, is subject to inventory risk or has the ability to direct the use of inventory, and has latitude in establishing prices and selecting suppliers. The Company also enters into arrangements with its business partners to sell their products on the Company’s online stores. does not control the underlying the Company has no discretion in establishing prices of the products provided by its business partners. Upon successful sales, the Company will charge the business partners a negotiated amount or a fixed rate commission fee based on the sales amount. Commission revenues are recognized on a net basis at the point of consumers’ acceptance of products, net of return allowance. Online marketing and information services and other revenue The Company provides online marketing and information services to third-party on the Company’s various channels and third-party platforms, including but not limited to advertising placements, The Company also provides warehouse services. The warehouse services include warehousing, packaging, dispatching and other services. Revenue is primarily recognized when the services are rendered.
Sales returns	(r) Sales returns The Company offers online consumers an unconditional right of return for a period of seven days upon receipt of products. Return allowances, which reduce revenue and cost of sales, are estimated by categories of return policies offered to online customers, based on historical data the Company has maintained, and subject to adjustments to the extent that actual returns differ or are expected to differ.
Sales incentives	(s) Sales incentives The Company adopted a customer reward program, under which the Company grants certain units (“Boqii Bean”) to its customers at its discretion in different situations. Boqii Beans are not redeemable for cash and can be used as a coupon for the customer’s future purchase on the Boqii Marketplace and Boqii.com. The value of ten units of Boqii Bean is equivalent to one RMB yuan before taking into account the impact of breakage. For the Boqii Beans that are granted with concurrent revenue transactions, the allocated transaction price based on its relative standalone selling price are recognized as reduction of the revenue and accrued for as contract liabilities. As customers redeem awards, the accrued liability is reduced correspondingly. For the Boqii Beans that are granted without concurrent revenue transactions, they are not accounted for when granted and are recognized as a reduction of revenue when they are applied in future sales. The Company also has a coupon program, through which the Company grants coupons to online customers when they make a successful purchase order, finish first registration on Boqii Marketplace or comment on products. When a coupon is granted concurrent with a revenue transaction, the Company accounts for the estimated cost of future usage of the coupon as reduction of the revenue. When a coupon is not granted concurrent with a revenue transaction, they are not accounted for when they are granted and are recognized as a reduction of revenue when they are applied in future sales.
Cost of revenue	(t) Cost of revenue Cost of revenue consist of cost of product sales of RMB930.4 million, RMB842.7 million and RMB560.1 million for the years ended March 31, 2022, 2023 and 2024, respectively, and cost of services of RMB13.3 million, RMB15.9 million and RMB8.5 million for the years ended March 31, 2022, 2023 and 2024, respectively. Cost of product sales comprise the purchase price of products, vendor rebates and inventory write-downs. Cost of products does not include other costs such as shipping and handling expense, payroll and benefits of logistic staff, and logistic centers rental expenses. Cost of service consists of the advertising and promotion costs, employee wages and benefits in connection with the Company’s provision of marketing and information services including the fees that the Company paid to third party for advertising and promotion on various online and offline channels.
Vendor rebates	(u) Vendor rebates The Company periodically receives consideration from certain vendors, representing rebates for products sold over a period of time. The Company accounts for the rebates received from its vendors as a reduction to the price it pays for the products purchased. Rebates are earned based on reaching minimum purchased thresholds for a specified period. When volume rebates can be reasonably estimated based on the Company’s past experience, current forecasts and purchase volume, a portion of the rebate is recognized as the Company makes progress towards the purchase threshold.
Fulfillment expenses	(v) Fulfillment expenses Fulfillment costs primarily represent warehousing, shipping and handling expenses for dispatching and delivering products to consumers, employee wages and benefits for the relevant personnel, customs clearance expenses and other related transaction costs.
Sales and marketing expenses	(w) Sales and marketing expenses Sales and marketing expenses comprise primarily of advertising expenses, third-party platforms commission fee, employee wages, rental expenses and benefits for sales and marketing staff, depreciation expenses and other daily expenses which are related to the sales and marketing functions. Advertising expenses consist primarily of customer acquisition cost and costs for the promotion of corporate image and product marketing. The Company expenses all advertising costs as incurred and classifies these costs under sales and marketing expenses. For the years ended March 31, 2022, 2023 and 2024, the advertising expenses were RMB81 million, RMB44 million and RMB26 million, respectively.
General and administrative expenses	(x) General and administrative expenses General and administrative expenses consist of employee wages and benefits for corporate employees, research and development expenses and other expenses which are related to the general corporate functions, including accounting, finance, tax, legal and human resources, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, rental and other general corporate related expenses. For the years ended March 31, 2022, 2023 and 2024, the research and development were RMB11.3 million, RMB3.7 million and RMB2.2 million, respectively.
Leases	(y) Leases The Company applied ASC 842, “Leases”, by using the optional transition method at the adoption date without recasting comparative periods. The Company determines if an arrangement is a lease at inception. Operating leases are primarily for office and warehouse space and are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities, current and operating lease liabilities, non-current on its consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate, which it calculates based on the credit quality of the Company and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of each lease. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For operating leases with a term of one year or less, the Company has elected to not recognize a lease liability or ROU asset on its consolidated balance sheet. Instead, it recognizes the lease payments as expense on a straight-line basis over the lease term. Short-term lease costs are immaterial to its consolidated statements of operations and comprehensive loss and cash flows.
Government grants	(z) Government grants The Company’s PRC based subsidiaries received government subsidies from certain local governments. The government subsidies are granted from time to time at the discretion of the relevant government authorities. These subsidies are granted for general corporate purposes and to support the Group’s ongoing operations in the region. Cash subsidies are recorded in other income, net on the consolidated statements of operations and comprehensive loss when received and when all conditions for their receipt have been satisfied. The Company recognized government subsidies of RMB0.2 million, RMB0.3 million and RMB3.0 million for the years ended March 31, 2022, 2023 and 2024, respectively.
Income taxes	(aa) Income taxes Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Tax Uncertain tax positions The Company recognizes in its consolidated financial statements the benefit of a tax position if the tax position is “more likely than not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Company estimates its liability for unrecognized tax benefits which are periodically assessed and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The ultimate outcome for a particular tax position may not be determined with certainty prior to the conclusion of a tax audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Company’s estimates. As each audit is concluded, adjustments, if any, are recorded in the Company’s consolidated financial statements in the period in which the audit is concluded. Additionally, in future periods, changes in facts, circumstances and new information may require the Company to adjust the recognition and measurement estimates with regard to individual tax positions. Changes in recognition and measurement estimates are recognized in the period in which the changes occur. As of March 31, 2023 and 2024, the Company did not have any material unrecognized uncertain tax positions.
Share-based compensation	(ab) Share-based compensation The Company follows ASC 718 to determine whether a share option should be classified and accounted for as a liability award or equity award. All grants of share-based awards to employees, management and nonemployees classified as equity awards are recognized in the financial statements based on their grant date fair values which are calculated using an option pricing model. Employees’ share-based compensation awards are measured at the grant date fair value of the awards and recognized as expenses (a) immediately at the grant date if no vesting conditions are required; or (b) for share-based awards granted with only service conditions, using the graded vesting method, net of estimated forfeitures, over the vesting period; or (c) for share-based awards granted with service conditions and the occurrence of an initial public offering (“IPO”) as performance condition, cumulative share-based compensation expenses for the options that have satisfied the service condition should be recorded upon the completion of the IPO, using the graded vesting method. Under ASC 718, the Company applies the Binominal option pricing model in determining the fair value of options granted. ASC 718 requires forfeiture rates to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. Share-based compensation expense is recorded net of estimated forfeitures such that expense is recorded only for those share-based awards that are expected to vest.
Net loss per share	(ac) Net loss per share Basic loss per share is computed by dividing net loss attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year using the two-class method. Using the two-class method, net profit/loss is allocated between ordinary shares and other participating securities (i.e. preferred shares) based on their participating rights. Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalents shares outstanding during the year/period. Ordinary share equivalents consist of the ordinary shares issuable in connection with the Company’s convertible redeemable preferred shares using the if-converted method, and ordinary shares issuable upon the conversion of the share options, using the treasury stock method. Ordinary equivalent shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive.
Comprehensive loss	(ad) Comprehensive loss Comprehensive loss is defined as the changes in shareholders’ equity of the Company during a period transactions and other events and circumstances excluding transactions resulting from investments from shareholders, distributions to shareholders, accretions on convertible redeemable preferred shares and modification and extinguishment of convertible redeemable preferred shares. Comprehensive loss for the periods presented includes net loss, foreign currency translation adjustments and unrealized securities holding gain losses.
Segment reporting	(ae) Segment reporting ASC 280, Segment Reporting Based on the criteria established by ASC 280, the Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company. As a whole and hence, the Company has only one reportable segment. The Company does not distinguish between markets or segments for the purpose of internal reporting. As the Company’s long-lived assets are substantially located in the PRC and substantially all the Company’s revenue are derived from within the PRC, no geographical segments are presented.
Recent accounting pronouncements	(af) Recent accounting pronouncements The Company qualifies as an “emerging growth company”, or EGC, pursuant to the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. As an EGC, the Company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. The Company adopts the following standards based on extended transition period provided to private companies or early adopts as necessary as permitted by the respective standards. New and Amended Standards Adopted by the Company: In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, which require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. The amendments in this Update also provide certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination. The standard is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. The Company adopted this update in the first quarter of 2023 and the adoption of this standard did not have a material impact on the Company’s disclosures. In March 2022, the FASB issued ASU 2022-02, Troubled Debt Restructurings and Vintage Disclosures. This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted ASU 2016-13, Measurement of Credit Losses on Financial Instruments. This ASU also enhances the disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the ASU amends the guidance on vintage disclosures to require entities to disclose current period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326-20. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU would be applied prospectively. The Company adopted this update in the first quarter of 2023 and the adoption of this standard did not have a material impact on the Company’s disclosures. New and amended standards not yet adopted by the Company: In June 2022, the FASB issued ASU 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The update clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The update also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The update also requires certain additional disclosures for equity securities subject to contractual sale restrictions. For public business entities, the Board decided that the amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company is in the process of evaluating the impact of the new guidance on its consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15,2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. This ASU will likely result in the Company including the additional required disclosures when adopted. The Company is in the process of evaluating the impact of the new guidance on its consolidated financial statement and expect to adopt them for the year ending March 31, 2025 . In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is in the process of evaluating the impact of the new guidance on its consolidated financial statement.

Organization and Principal Ac_2

Organization and Principal Activities (Tables)	12 Months Ended
	Mar. 31, 2024
Organization and Principal Activities [Abstract]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries	As of March 31, 2024, the Company’s principal subsidiaries, consolidated VIEs and major VIEs’ subsidiaries are as follows: Name of subsidiaries and VIE Place of incorporation Date of incorporation or acquisition Percentage of direct or indirect Principal activities Subsidiaries: Boqii Corporation Limited (“Boqii Corporation”) Hong Kong July 2012 100 % Investment holding Boqii International Limited Hong Kong August 2016 100 % Investment holding Xingmu International Limited British Virgin Islands August 2019 51 % Investment holding Xingmu HK Limited Hong Kong November 2019 51 % Investment holding Nanjing Xinmu Information Technology Co., Ltd. (“Xingmu WFOE”) Nanjing, the PRC November 2019 51 % Technology development and sales of merchandise Xincheng (Shanghai) Information Technology Co., Ltd. (“Shanghai Xincheng”) Shanghai, the PRC November 2012 100 % Technology development and sales of merchandise Shanghai Yiqin Pets Products Co., Ltd. Shanghai, the PRC February 2013 100 % Technology development and sales of merchandise Consolidated VIEs Guangcheng (Shanghai) Information Technology Co., Ltd. (“Shanghai Guangcheng”) Shanghai, the PRC November 2012 100 % Operates the Company’s own online e-commerce platform Nanjing Xingmu Biotechnology Co., Ltd. (“Nanjing Xingmu”) Nanjing, the PRC November 2019 51 % Biotechnology research and development Suzhou Taicheng Supply Chain Co., Ltd. (“Suzhou Taicheng”) Suzhou, the PRC June 2021 100 % Sales of merchandise Suzhou Xingyun Yueming Supply Chain Co., Ltd. (“Suzhou Xingyun”) Suzhou, the PRC April 2022 100 % Sales of merchandise Subsidiaries of VIEs Boqii (Shanghai) Information Technology Co., Ltd. Shanghai, the PRC August 2014 90 % Technology development
Schedule of Company’s Consolidated Financial Statements	The following table set forth the assets, liabilities, results of operations and changes in cash, cash equivalents and restricted cash of the consolidated VIEs and their subsidiaries taken as a whole, which were included in the Company’s consolidated financial statements with intercompany transactions eliminated ( RMB in thousands As of March 31, 2023 2024 RMB RMB Cash and cash equivalents 15,522 19,197 Accounts receivable, net 33,172 23,731 Amounts due from related parties 6,770 7,298 Inventories, net 27,894 11,104 Prepayments and other current assets 48,291 32,418 Inter-company receivables 83,700 19,140 Property and equipment, net 4,661 2,444 Intangible assets 101 25 Operating lease right-of-use assets 22,305 7,346 Long-term investments 75,505 65,849 Other non-current asset 5,219 2,093 Total assets 323,140 190,645 As of March 31, 2023 2024 RMB RMB Short-term borrowings 363 10,213 Accounts payable 13,459 2,279 Amounts due to related parties, current 21 - Salary and welfare payable 5,573 440 Accrued liabilities and other current liabilities 15,712 6,759 Contract liabilities 4,471 1,579 Operating lease liabilities, current 9,207 5,254 Inter-company payables 1,095,452 997,922 Operating lease liabilities, non-current 12,741 2,209 Other debts, non-current 75,481 11,500 Total liabilities 1,232,480 1,038,155 Year Ended March 31, 2022 2023 2024 RMB RMB RMB Net revenues: Third-party revenues 877,380 786,152 463,457 Inter-company revenues 56,079 86,463 41,335 Total revenues 933,459 872,615 504,792 Cost of revenues: Third-party cost of revenues (160,661 ) (81,810 ) (92,297 ) Inter-company cost of revenues (550,585 ) (534,518 ) (266,823 ) Total cost of revenues (711,246 ) (616,328 ) (359,120 ) Gross profit 222,213 256,287 145,672 Operating expenses: Third-party operating expenses (288,291 ) (237,852 ) (138,799 ) Inter-company operating expenses - (41 ) 286 Total operating expenses (288,291 ) (237,893 ) (138,513 ) Impairment of goodwill - (994 ) - Other income, net 98 158 961 Profit/(Loss) from operations (65,980 ) 17,558 8,120 Non-operating expense (20,680 ) (29 ) (15,744 ) Profit/(Loss) before income tax expenses (86,660 ) 17,529 (7,624 ) Income tax benefits 681 21 38 Share of results of equity investees 418 (82 ) 50 Net profit/(loss) (85,561 ) 17,468 (7,536 ) Cash flows from operating activities: Net cash provided by transactions with external parties 526,201 471,991 244,798 Net cash used in transactions with the Company’s entities (329,325 ) (449,155 ) (717,589 ) Net cash generated from/ (used in) operating activities 196,876 22,836 (472,791 ) Cash flows from investing activities: Other investing activities (18,482 ) (9,638 ) 5,219 Cash flows of loan funding provided to the Company’s entities, net of repayments received 6,294 - - Net cash used in investing activities (12,188 ) (9,638 ) 5,219 Cash flows from financing activities: Other financing activities (273,906 ) (88,469 ) 3,032 Cash flows of loan funding received from the Company’s entities, net of repayments made 91,794 69,204 468,214 Net cash generated from/ (used in) financing activities (182,112 ) (19,265 ) 471,246

Principal Accounting Policies (

Principal Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Member]
Principal Accounting Policies [Line Items]
Schedule of Property Plant And Equipment Useful Lives	The estimated useful lives are as follows: Useful years Warehouse equipment 3 - 5 years Furniture, computer and office equipment 3 - 5 years Vehicles 5 years Software 10 years Leasehold improvements Over the shorter of the expected life of
Finite-Lived Intangible Assets [Member]
Principal Accounting Policies [Line Items]
Schedule of Finite Lived Intangible Assets Useful Lives	The estimated useful lives of intangible assets are as follows: Useful years Trademark 10 years Dealership 10 years License 4.5 years

Risks and Concentration (Tables

Risks and Concentration (Tables)	12 Months Ended
	Mar. 31, 2024
Risks and Concentration [Abstract]
Schedule of Total Purchases	The information of the supplier with greater than 10% of the total purchases of the Company for the years ended March 31, 2022, 2023 and 2024 was as follows: Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Royal Canin China Co., Ltd. 17 % 22 % 26 %

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Mar. 31, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Cash and cash equivalents balance as of March 31, 2023 and March 31, 2024 primarily consist of the following currencies: As of March 31, 2023 As of March 31, 2024 RMB RMB Amount equivalent Amount equivalent RMB 62,727 62,727 42,977 42,977 Hong Kong dollars 7 6 - - US$ 3,946 27,114 4,192 29,745 EUR* - 2 - - NZD* - 1 - - Total 89,850 72,722 * Amount is less than 1,000 in respective foreign currency.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Mar. 31, 2024
Accounts Receivable, Net [Abstract]
Schedule of Accounts Receivable	Accounts receivable consist of the following： As of As of 2023 2024 RMB RMB Accounts receivable - Product sales 71,471 47,672 Accounts receivable - Online marketing and information service and other service 5,873 2,932 Allowance of expected credit loss (602 ) (486 ) Total 76,742 50,118
Schedule of Movement of Allowance of Expected Credit Loss	Movement of allowance of Expected credit loss: As of As of As of 2022 2023 2024 RMB RMB RMB At beginning of year 256 469 602 Addition/(reversal) 213 133 (116 ) At end of year 469 602 486

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Mar. 31, 2024
Inventories [Abstract]
Schedule of Inventories, Net of Inventory Reserves	Inventories, net of inventory reserves consist of the following： As of As of 2023 2024 RMB RMB Products 80,431 54,992 Packaging materials and others 621 197 Total inventories, net of inventory reserves 81,052 55,189
Schedule of Movement of Inventory Provision /(Reversal)	Movement of inventory provision /(reversal):: As of As of As of 2022 2023 2024 RMB RMB RMB At beginning of year 266 577 612 Provision/(reversal) 311 35 (223 ) At end of year 577 612 389

Prepayments and Other Current_2

Prepayments and Other Current Assets (Tables)	12 Months Ended
	Mar. 31, 2024
Prepayments and Other Current Assets [Abstract]
Schedule of Prepayments and Other Current Assets	The prepayments and other current assets consist of the following: As of As of 2023 2024 RMB RMB Prepayments for purchases of products (a) 24,216 29,998 Vendor rebate receivables (b) 16,160 9,466 Value-added tax (“VAT”) deductible (c) 10,512 4,438 Loan receivables (d) 9,886 5,391 Sales return assets 2,835 2,021 Deposits (e) 999 29,477 Others 14,751 13,727 Total 79,359 94,518 (a) Prepayments for purchases of products represent cash prepaid to the Company’s third-party brand partners for the procurement of products. (b) Vendor rebate receivables represent the rebates to be received by the Company from its suppliers after certain levels of purchases are achieved. (c) VAT recoverable represents the balances that the Company can utilize to deduct its value-added tax liabilities within the next 12 months. (d) The balance represents loan receivables due from certain third-party companies and individuals. From July 2020 to February 2024, the Company entered into several loan agreements with aggregate principal amount of RMB15.8 million, including RMB 3 million to an individual in February 2024 disclosed on ITEM 16.F on Form 20-F for the year ended March 31, 2024. The maturity dates of these loans are from October 2023 to May 2025. The interest rates ranged from 0% to 4% per annum. As of March 31, 2023 and 2024, the balances of loan receivables were RMB9.9 million and RMB5.4 million, respectively. The aforementioned loan of RMB 3 million has been fully collected as of the date of this annual report. (e) Between September and November 2023, the Company’s Hong Kong subsidiary wired to a financial advisor an aggregate of approximately US$4.1 million as a deposit pursuant to an agreement entered into with this financial advisor for the Company’s future mergers and acquisitions. As of the date of this annual report, the full amount of the deposit has been returned to the Company.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Mar. 31, 2024
Property and Equipment, Net [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following: As of As of 2023 2024 RMB RMB Cost: Warehouse equipment 2,879 1,945 Furniture, computer and office equipment 7,082 5,395 Vehicles 4,740 4,740 Leasehold improvement 10,501 10,793 Software 3,009 3,012 Total cost 28,211 25,885 Less: Accumulated depreciation (22,719 ) (22,782 ) Property and equipment, net 5,492 3,103

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Mar. 31, 2024
Intangible Assets, Net [Abstract]
Schedule of Intangible Assets	Intangible assets of the Company were mainly as follows: As of As of 2023 2024 RMB RMB Cost: Trademark 486 474 License 3,530 3,530 Dealership 31,717 31,717 Total cost 35,733 35,721 Less: Accumulated amortization (14,139 ) (17,811 ) Intangible assets, net 21,594 17,910
Schedule of Annual Estimated Amortization Expense for Intangible Assets	The annual estimated amortization expense for intangible assets subject to amortization for the succeeding five years is as follows: As of March 31, 2025 2026 2027 2028 2029 Amortization expenses 3,247 3,211 3,208 3,193 3,178

Long-Term Investments (Tables)

Long-Term Investments (Tables)	12 Months Ended
	Mar. 31, 2024
Schedule of Long-Term Investment [Abstract]
Schedule of Long-Term Investment	The Company’s long-term investments consist of the following: As of As of 2023 2024 RMB RMB Equity method investments 7,494 7,383 Available-for-sale investments 68,011 58,465 Equity securities with readily determinable fair values 102 39 Total 75,607 65,887
Schedule of Available-For-Sale Debt Investments	The following table summarizes the Company’s available-for-sale debt investments as of March 31, 2023: Cost Gross Gross Disposal of Fair Unlisted debt securities 76,000 - (7,561 ) (428 ) 68,011 Cost Gross Gross Disposal of Fair Unlisted debt securities 76,000 - (11,535 ) (6,000 ) 58,465
Schedule of Equity Securities With Readily Determinable Fair Values	The following table summarizes the Company’s equity securities with readily determinable fair values as of March 31, 2023: Cost Gross Gross Fair Listed company 1,292 - (1,190 ) 102 The following table summarizes the Company’s equity securities with readily determinable fair values as of March 31, 2024: Cost Gross Gross Fair Listed company 1,292 - (1,253 ) 39

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Mar. 31, 2024
Goodwill [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the years ended March 31, 2023 and 2024 were as follows: Total RMB Balance as of March 31, 2022 Goodwill 40,684 Accumulated impairment loss - 40,684 Transaction during the year Impairment (40,684 ) Balance as of March 31, 2023 Goodwill 40,684 Accumulated impairment loss (40,684 ) - Balance as of March 31, 2024 Goodwill 40,684 Accumulated impairment loss (40,684 ) -

Other Non-Current Assets (Table

Other Non-Current Assets (Tables)	12 Months Ended
	Mar. 31, 2024
Other Non-Current Assets [Abstract]
Schedule of Other Non-current Assets	As of As of 2023 2024 RMB RMB Deposits (a) 3,165 3,455 Long-term loan receivables (b) 3,421 - 6,586 3,455 (a) Deposits mainly consisted of rental deposits and deposit for online stores operated on third party platforms, which will be collected after one year. (b) From May 2021 to May 2022, the Company entered into interest free loan agreements with three third parties for total principal amounts of RMB3.4 million. The repayment terms of the loan agreements ranged from 24 months to 36 months with due dates from May 2024 to June 2025. As of March 31, 2023 and 2024, the balances of long-term loan receivables were RMB3.4 million and Nil

Accrued Liabilities and Other_2

Accrued Liabilities and Other Current Liabilities (Tables)	12 Months Ended
	Mar. 31, 2024
Accrued Liabilities and Other Current Liabilities [Abstract]
Schedule of Accrued Liabilities and Other Current Liabilities	Accrued liabilities and other current liabilities consist of the following: As of As of 2023 2024 RMB RMB Logistics expenses payables 7,663 5,154 Advances from customers 3,077 2,666 Payable for investment 2,563 2,563 Refund obligation of sales returns 3,113 2,240 Professional service fee accruals 1,694 1,705 Accrued advertising expenses 168 - Others 3,826 2,339 Total 22,104 16,667

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Operating Leases	All of the Company’s leases qualify as operating leases. As of As of 2023 2024 RMB RMB Assets Operating lease right-of-use assets 22,354 8,951 Liabilities Operating lease liabilities, current 9,220 5,613 Operating lease liabilities, non-current 12,741 3,115 Total operating lease liabilities 21,961 8,728 Weighted average remaining lease term (years) 2.77 1.65 Weighted average discount rate 5.38 % 4.93 % Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Operating lease right-of-use assets obtained in exchange for lease obligations 21,038 8,384 4,545 Operating lease related expenses Amortization of right-of-use assets 11,705 24,597 17,948 Interest of lease liabilities 1,949 1,777 199 13,654 26,374 18,147 Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Operating lease payments (included in measurement of lease liabilities) 12,849 26,397 17,977
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities were as follows: Year ended March 31, 2024 RMB For the year ending March 31, 2025 6,559 2026 2,808 2027 365 Total lease payments 9,732 Less: imputed interest (1,004 ) Total 8,728

Interest Expense (Tables)

Interest Expense (Tables)	12 Months Ended
	Mar. 31, 2024
Interest Expense [Abstract]
Schedule of Interest Expense	Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Amortization charges on promissory notes 17,144 9,706 5,058 Interest expense on borrowings 3,740 3,644 2,268 Total 20,884 13,350 7,326

Other Gains, Net (Tables)

Other Gains, Net (Tables)	12 Months Ended
	Mar. 31, 2024
Other Gains, Net [Abstract]
Schedule of Other Gains, Net	Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Gain from the re-measurement of the previously held equity interests to the fair 127 - - Foreign exchange losses, net 5,322 2,679 1,089 Loss on disposal of other debts (Note 21) - - (1,425 ) Reimbursement from a depositary bank (a) 1,482 - - Investment (loss)/gain (622 ) (178 ) 1,820 Gain on disposal of a subsidiary (b) - 3,597 49 Discount on the ordinary shares issued by public offering (Note 19) - - (5,943 ) Others (289 ) (939 ) 416 Total 6,020 5,159 (3,994 ) (a) The Company received a reimbursement of US$0.2 million (equivalent to RMB1.5 million), Nil Nil (b) In August 2022, the Company disposed a subsidiary to a third-party investor and recognized an investment gain of RMB 3.6 million. In November 2023, the Company disposed a subsidiary and recognized an investment gain of RMB 0.05 million.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2024
Income Taxes [Abstract]
Schedule of Reconciliations of the Differences between the Income Tax Expenses	Reconciliations of the differences between the income tax expenses of the Company and the PRC statutory EIT rate applicable to losses of the consolidated entities are as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Loss before income taxes (134,812 ) (106,805 ) (69,875 ) Income tax computed at respective applicable tax rates (33,702 ) (26,701 ) (17,469 ) Effect of different tax jurisdiction 2,341 12,323 6,976 Super deduction for research and development expenses (a) (1,881 ) (456 ) (547 ) Non-deductible expenses 97 728 115 Change in valuation allowance 34,716 15,017 11,852 Total 1,571 911 927 (a) According to the relevant laws and regulations promulgated by the State Administration of Tax of the PRC, from 2013 onwards, enterprises engaging in research and development activities are entitled to claim 200% of their qualified research and development expenses so incurred as tax deductible expenses. The additional deduction of 100% of qualified research and development expenses (the “Super Deduction”) can be directly claimed in the annual EIT filing. For the years end March 31, 2022, 2023 and 2024, the Super Deduction for research and development expenses available to the Company amounted to RMB1.9 million, RMB0.5 million and RMB0.5 million, respectively.
Schedule of Effect of Tax Holiday	The following table sets forth the effect of tax holiday effect on China operations: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Tax holiday effect 3,513 1,235 1,882 Basic and diluted net loss per share effect 0.05 0.02 0.02
Schedule of Effective Income Tax Rate and the PRC Statutory Income Tax Rates	Reconciliations between the effective income tax rate and the PRC statutory income tax rates are as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB PRC statutory income tax rates 25 % 25 % 25 % Tax holiday effect 3 % (1 )% (3 )% Difference in tax rates of subsidiaries outside PRC (8 )% (10 )% (5 )% Super deduction for research and development expenses 1 % 0 % 1 % Non-deductible expenses 0 % 1 % 0 % Change in valuation allowance (20 )% (14 )% (17 )% Effective income tax rate 1 % 1 % 1 %
Schedule of Current and Deferred Portions of Income Tax Expenses	The current and deferred portions of income tax expenses included in the consolidated statements of operations and comprehensive loss are as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Current income tax expense/(benefit) (582 ) 78 (20 ) Deferred tax benefit (989 ) (989 ) (907 ) Income tax credit, net (1,571 ) (911 ) (927 )
Schedule of Deferred Tax Assets and Tax Liabilities	The tax effects of temporary differences that give rise to the deferred tax asset and liabilities balances as of March 31, 2023 and 2024 are as follows: As of As of 2023 2024 RMB RMB Deferred tax assets: Net accumulated loss-carry forward 163,526 150,667 Allowance 238 861 Contract liabilities 172 60 Accruals 842 889 Fair Value Change 1,891 2,778 Less: Valuation allowance (166,669 ) (155,255 ) Deferred tax liabilities: Recognition of intangible assets arising from asset acquisition and business combination (4,141 ) (3,234 )
Schedule of Movement of Valuation Allowance	Movement of valuation allowance is as follows: Year ended March 31, 2022 Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB RMB Beginning balance 149,978 177,247 166,669 Change of valuation allowance 27,269 15,017 11,852 Written-off for expiration of net operating losses - (22,995 ) (23,266 ) Decrease of valuation allowances related to the disposal of a subsidiary - (2,600 ) - Ending balance 177,247 166,669 155,255

Redeemable Non-Controlling In_2

Redeemable Non-Controlling Interests (Tables)	12 Months Ended
	Mar. 31, 2024
Redeemable Non-Controlling Interests [Abstract]
Schedule of Redeemable Non-Controlling Interests Activity	The following tables provides details of the redeemable non-controlling interests activity for the years ended March 31, 2022, 2023 and 2024: Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Beginning balance 5,947 6,522 7,197 Accretion of redeemable non-controlling interests 575 675 766 Ending balance 6,522 7,197 7,963

Borrowings, Other Debts and D_2

Borrowings, Other Debts and Derivative Liabilities (Tables)	12 Months Ended
	Mar. 31, 2024
Borrowings, Other Debts and Derivative Liabilities [Abstract]
Schedule of Short-Term Borrowings	The following table presents short-term borrowings from commercial banks, other institutions and individuals as of March 31, 2023 and 2024. Short-term borrowings include borrowings with maturity terms shorter than one year: As of As of 2023 2024 RMB RMB Bank borrowings 86,261 15,213
Schedule of Maturities of Short-Term Borrowings and Long-Term Borrowings	Future principal maturities of short-term borrowings and long-term borrowings as of March 31, 2023 and 2024 are as followings: Year ended March 31, 2023 Year ended March 31, 2024 RMB RMB For the year ending March 31, - Within 1 year 86,261 15,213 Total 86,261 15,213
Schedule of Other Debts – Non-Current	Other debts – non-current consist of the following: As of As of 2023 2024 RMB RMB Loan from Chong Li (a) 73,981 10,000 Loan for Yoken Series A-1 Warrant (b) 27,346 32,441 Payable for investment 1,500 1,500 Total 102,827 43,941 (a) Loan from Chong Li Shanghai Guangcheng signed loan agreement with Chong Li in March 2020 (“Loan from Chong Li”). The loan was interest-free with a principal amount of RMB128 million. The term is 5 years and can be extended if agreed by both Chong Li and Shanghai Guangcheng. The Company accounted for Loan from Chong Li as a long-term debt initially recognized in the amount of RMB95 million (which is the present value of the principal amount of RMB128 million) and subsequently measured at amortized cost. During the years ended March 31, 2023 and 2024, the Company repaid the principal of Loan from Chong Li of RMB36.4 million and RMB6.8 million, respectively. For the years ended March 31, 2023 and 2024, the Company recorded interest expenses of RMB4.5 million and Nil The Company issued preferred shares to be settled by Superb Origin International Limited (“Superb Origin”, Chong Li is the 100% equity owner of Superb Origin) after Shanghai Guangcheng repaid the Loan from Chong Li. The Company recorded a receivable for issuance of preferred shares in the amount of RMB95 million (which is the present value of the principal amount of RMB128 million) in mezzanine equity for the consideration of the preferred shares not yet received from Superb Origin. After the completion of the IPO in October 2020, preferred shares were automatically converted into Class A ordinary shares. The Company then recorded the unreceived consideration from Superb Origin as receivable for issuance of ordinary shares under shareholders’ equity (Note 22). In September 2023, Shanghai Guangcheng entered into a debt waiver agreement with Chong Li, which provided that Chong Li waivered RMB75.28 million of the borrowings payable not yet paid by Shanghai Guangcheng. At the same time, the Company entered into a debt waiver agreement with Superb Origin, which provided that the Company would waive the outstanding investment amount of USD 11.25 million payable by Superb Origin to it. Accordingly, the Company offset the waiver amount against “other debts” and “receivable for issuance of ordinary shares” accordingly. For the years ended March 31, 2024, the Company recorded an investment loss of RMB 1.4 million on this transaction (Note 17). (b) Yoken Series A-1 Warrant On March 2, 2020, Yoken Holding Limited (“Yoken”), a wholly owned subsidiary of the Company, entered into a share purchase agreement with three investors (“Yoken Series A-1 SPA”). According to the Yoken Series A-1 SPA, Yoken will issue each investor a warrant (“Yoken Series A-1 Warrant”) to purchase certain quantity of Yoken’s Series A-1 Preferred Shares (“Yoken Series A-1 Preferred Shares”). As the consideration for each Yoken Series A-1 Warrant, the respective investor shall provide a loan (“Loan for Yoken Series A-1 Warrant”) carrying a simple interest of 10% per annum to Chengdu Chongaita Information Technology Co., Ltd. (“Chongaita”), a wholly owned PRC subsidiary of Yoken. Yoken will only issue the Yoken Series A-1 Warrants after Chongaita has received all loan proceeds. Both the issuance of the Yoken Series A-1 Warrants and the receipt of the loan proceeds are closing conditions of the transactions in the Yoken Series A-1 SPA. The Company accounted for the loan as a term loan carrying an annual simple interest of 10%. As of March 31, 2020, the carrying value of the loan proceeds of Yoken Series A-1 Warrant was RMB18 million. On October 23, 2020, one of the investors terminated and entered into a new share purchase agreement with Yoken, pursuant to which 120,000 Yoken Series A-1 Preferred Shares were issued on October 23, 2020 for an aggregated consideration of RMB6 million. On the same day, the Company issued the remaining two investors two warrants to purchase up to 360,000 and 200,000 Yoken Series A-1 Preferred Shares at an exercise price per share of US$ 7.14 in connection with a loan of RMB18 million (equivalent to US$2.5 million) and RMB10 million (equivalent to US$1.4 million) granted to Chongaita (“Loan for Yoken Series A-1 Warrant”). As a debt modification, the Company reversed RMB1.4 million interest expense as other gains, net. The Company recognized the Yoken Series A-1 Warrant and bifurcated the conversion feature as derivative liability out of the total consideration received. As of March 31, 2023 and 2024, the carrying value of Yoken Series A-1 Warrant were RMB27.3 million and RMB32.4 million, respectively, and fair value of conversion feature were RMB7.9 million and RMB5.7 million, respectively.
Schedule of Derivative Liabilities	Derivative liabilities As of As of 2023 2024 RMB RMB Conversion feature of Yoken Series A-1 Warrant (a) 7,850 5,721 Forward exchange contracts (b) 2,851 - Total 10,701 5,721 (a) The warrant issued in connection with Yoken Series A-1 Warrant is embedded instead of freestanding because it is (1) issued in connection with the instrument and (2) not separately exercisable without terminating the debt instruments. Therefore, each combined instrument (loan with embedded warrant) is substantially similar to a convertible debt where the embedded warrant is similar to a conversion feature able to convert the debt instrument into the Preferred Shares. The Company assessed the embedded warrant along with the conversion features in Yoken Series A-1 Warrant and concluded that it is required to be bifurcated and accounted for separately as derivative liabilities. This is because (1) the embedded warrant or conversion feature, as an equity-linked feature, is not considered clearly and closely related to its debt host instrument, and (2) the redemption rights of the convertible Preferred Shares could give rise to net settlement of the conversion feature of the Preferred Shares. (b) In June and December 2021 and March 2022, the Company entered three new forward exchange contracts with a financial institution. Pursuant to which, the financial institution agreed to purchase US$8 million, US$4 million and US$5 million from the Company in exchange of RMB52.4 million, RMB26.1 million and RMB32.1 million at a fixed foreign exchange rate of 6.5452, 6.5128 and 6.4200 on June 2022, December 2022 and March 2023, respectively. The Company settled in advance with amount of US$11 million and recorded the fair value gain in the amount of RMB1.2 million as fair value change of derivative liabilities. For the year ended March 31, 2022, the fair value gain of the rest forward exchange contracts was RMB0.9 million and was recorded as fair value change of derivative liabilities In December 2022 and March 2023, the forward exchange contracts which signed in December 2021 and March 2022 were renewed to December 2023 and March 2024 respectively. And the Company settled in advance with amount of US$1.5 million and recorded the fair value gain in the amount of RMB0.1 million as fair value change of derivative liabilities. For the year ended March 31, 2023, the fair value loss of the rest forward exchange contracts was RMB(3.6) million and was recorded as fair value change of derivative liabilities. The carrying value of the remaining forward exchange contracts was RMB2.9 million and was recorded as derivative liabilities. The forward exchange contracts which signed in December 2021 and March 2022 had expired in December 2023 and March 2024 and the company paid RMB1.25 million and RMB4.76 million respectively to the bank to close the transactions, resulting in a cumulative loss of RMB (3.2) million recorded as fair value change of derivative liabilities. As of March 31, 2024, the carrying value of the forward exchange contracts was Nil

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Stock Option Activity	The following table sets forth the share options activity for the years ended March 31, 2023 and 2024: Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value Weighted average fair value US$ US$ US$ Outstanding as of March 31, 2022 5,231,891 2.86 5.25 404 2.36 Exercisable as of March 31, 2022 - - - - - Exercised (53,488 ) 0.60 - - 2.26 Forfeited (1,233,050 ) 1.31 - - 0.86 Outstanding as of March 31, 2023 3,945,354 2.58 3.45 124 2.06 Exercisable as of March 31, 2023 - - - - - Granted 9,511,720 0.23 - - 0.01 Exercised (37,741 ) 0.10 - - 0.17 Forfeited (3,031,811 ) 3.40 - - 3.44 Outstanding as of March 31, 2024 10,387,522 0.35 8.95 0 0.12 Exercisable as of March 31, 2024 - - - - -
Summary of Options Measured At Fair Value, Valuation Assumptions	The significant unobservable inputs adopted in the valuation as of March 31, 2023 and 2024 are as follows: As of As of 2023 2024 Spot price (US$) 5.90 5.90 Risk-free rate 3.83 % 4.91 % Expected volatility 61.13 % 58.28 % Expected expiry years (in years) 2.60 1.60
Employees and Non Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Options Measured At Fair Value, Valuation Assumptions	The assumptions used to value the Company’s option grants for the year ended March 31, 2024 were as follows: Year ended Expected volatility 50.27%-53.83% Risk-free interest rate 3.56%-4.04% Exercise multiple 2.8/2.2 Expected dividend yield 0% Contractual term (in years) 10

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2024
Fair Value Measurements [Abstract]
Schedule of Financial Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis	The following table summarizes the Company’s financial assets and liabilities measured and recorded at fair value on recurring basis as of March 31, 2023 and 2024: Fair value measurement at reporting date using Description Fair value Quoted price in Significant other Significant RMB RMB RMB RMB Assets: Short-term investments 69,797 - 69,797 - Available-for-sale debt investments 68,011 - - 68,011 Equity securities with readily determinable fair values 102 102 - - Total assets 137,910 102 69,797 68,011 Liabilities: Derivative liabilities 10,701 - - 10,701 Fair value measurement at reporting date using Description Fair value Quoted price in Significant Significant RMB RMB RMB RMB Assets: Short-term investments - - - - Available-for-sale debt investments 58,465 - - 58,465 Equity securities with readily determinable fair values 39 39 - - Total assets 58,504 39 - 58,465 Liabilities: Derivative liabilities 5,721 - - 5,721
Schedule of Roll Forward of Major Level 3 Investments	The roll forward of major Level 3 investments are as following: Derivative Available- Fair value of Level 3 investments as at March 31, 2021 9,996 71,357 New addition - 16,000 Reclassification of forward exchange contracts 746 - Unrealized fair value change of the derivative liabilities (1,656 ) - Unrealized fair value change of the available-for-sale debt investments - (12,491 ) Fair value of Level 3 investments as at March 31, 2022 9,086 74,866 Reclassification of forward exchange contracts (651 ) - Unrealized fair value change of the derivative liabilities 2,266 - Unrealized fair value change of the available-for-sale debt investments - (6,427 ) Disposal of available-for-sale debt investments - (428 ) Fair value of Level 3 investments as at March 31, 2023 10,701 68,011 Reclassification of forward exchange contracts (6,014 ) Unrealized fair value change of the derivative liabilities 1,034 - Unrealized fair value change of the available-for-sale debt investments - (3,546 ) Disposal of available-for-sale debt investments - (6,000 ) Fair value of Level 3 investments as at March 31, 2024 5,721 58,465
Schedule of Significant Unobservable Inputs	The significant unobservable inputs adopted in the valuation as of March 31, 2023 and 2024: As of As of 2023 2024 Implied price to sales after discount for lack of marketability 1.04x 0.95x Weighted average cost of capital n.a. n.a. Lack of marketability discount 20% 20%, 28%, 32% Risk-free rate 2.60%, 2.31%, 2.19% 1.87%, 2.08%, 2.17% Expected volatility 47.19%, 43.65%, 32.08% 41.55%, 43.47%, 45.49% Probability Liquidation scenario: 35%, 40% Liquidation scenario: 40%, 35%
Schedule of Fair Value of Derivative Liabilities	The significant unobservable inputs adopted in the valuation as of March 31, 2023 and 2024 are as follows: As of As of 2023 2024 Spot price (US$) 5.90 5.90 Risk-free rate 3.83 % 4.91 % Expected volatility 61.13 % 58.28 % Expected expiry years (in years) 2.60 1.60

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Mar. 31, 2024
Net Loss Per Share [Abstract]
Schedule of Earnings Per Share	Basic loss per share and diluted loss per share have been calculated in accordance with ASC 260 on computation of earnings per share for the years ended March 31, 2022, 2023 and 2024, respectively, as follows: Year Ended Year Ended Year Ended RMB RMB RMB Numerator: Net loss attributable to Boqii Holding Limited (128,390 ) (102,799 ) (63,664 ) Accretion on the Redeemable non-controlling interests to redemption value (Note 20) (575 ) (675 ) (766 ) Net loss attributable to ordinary shareholders (128,965 ) (103,474 ) (64,430 ) Denominator: Weighted average number of ordinary shares used in computing net loss per share, Basic and diluted (Note (a)) 68,006,172 68,858,823 100,637,760 Net loss per share attributable to ordinary shareholders: Basic and diluted (1.90 ) (1.50 ) (0.64 ) Note (a): Options exercisable for a minimal exercise price (the “Penny Stock”) are included in the denominator of basic loss per share calculation once there are no further vesting conditions or contingencies associated with them, as they are considered issuable shares. Basic net loss per share is computed using the weighted average number of ordinary shares outstanding and the Penny Stock during the reporting periods. Diluted net loss per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding and the Penny Stock during the reporting periods.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following ordinary shares equivalent were excluded from the computation of diluted loss per ordinary share for the periods presented because including them would have had an anti-dilutive effect: Year Ended Year Ended Year Ended Share options - weighted average 719,437 591,418 488,853

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Major Related Parties and their Relationships	The table below sets forth the major related parties and their relationships with the Company as of March 31, 2022, 2023 and 2024: Name of related parties Relationship with the Company Nanjing Animal Pharmaceutical An equity investee of the Company until December, 2022 Wuhan Chunzhijin An equity investee of the Company Weishi Network An equity investee of the Company Beijing Petdog An available-for-sale debt investee that the Company has significant influence Shanghai Guangcheng Information Technology (limited partnership) A company with a common director of the Company MERCHANT TYCOON LIMITED A shareholder of the Company SUPERB ORIGIN INTERNATIONAL LIMITED A shareholder of the Company Yingzhi (Lisa) Tang Senior management of the Company Yan Jiang Senior management of the Company Di (Jackie) Chen Senior management of the Company until July, 2021 Ying (Christina) Zhang Senior management of the Company until February, 2022 Fei Wang Senior management of the Company until April, 2022 Lijun Zhou Senior management of the Company until April, 2022
Schedule of Related Party Transactions	Details of related party transactions are as follows: Year Ended March 31, 2022 Year Ended March 31, Year Ended March 31, RMB RMB RMB Online marketing and information services Weishi Network 19 - - 19 - - Purchase of merchandise Weishi Network 1,582 - - Nanjing Animal Pharmaceutical 1,020 1,402 3,891 2,602 1,402 3,891
Schedule of Loans Granted to Related Parties	Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Loans granted to related parties Shanghai Guangcheng Information (a) 33,395 - - Wuhan Chunzhijin (b) 2,600 2,720 4,761 MERCHANT TYCOON LIMITED - 100 - Yingzhi (Lisa) Tang 1,750 - - Lijun Zhou 300 - - Yan Jiang 70 - - 38,115 2,820 4,761 (a) In April 2021, the Company granted Shanghai Guangcheng Information a short-term loan with a total principal amount of RMB33.4 million (equivalent to USD 5 million), bearing an interest rate of 3.5% per annum. The loan was fully repaid by March 31, 2022. (b) The Company entered into a loan agreement with Wuhan Chunzhijin to provide Wuhan Chunzhijin with an interest-free loan of up to RMB10 million, which will be repaid on demand. In March 2023, the company converted RMB3.4 million loan to Wuhan Chunzhijin into equity interest. (Detail refer to Note 11).
Schedule of Advances Provided to Related Parties	Year Ended March 31, 2022 Year Ended March 31, 2023 Year Ended March 31, 2024 RMB RMB RMB Advances provided to related parties SUPERB ORIGIN INTERNATIONAL LIMITED (b) - 5,497 - Nanjing Animal Pharmaceutical (c) - 350 5,413 - 5,847 5,413 Loans granted from related parties Shanghai Guangcheng Information (a) 9,961 - - (a) In April 2021, the Company obtained a total loan facility up to USD 5 million from Shanghai Guangcheng Information. During the year ended March 31, 2022, the Company drew down a total amount of USD 1.5 million (equivalent to RMB10.0 million) from the loan facility, with interest bearing at 3.5% per annum. The loan was fully repaid by March 31, 2022. (b) In January 2023, the Company made an advance payment of RMB 5.5 million to SUPERB ORIGIN INTERNATIONAL LIMITED for the purchase of goods. As of March 31, 2023 and 2024, the balance of the advance payment was RMB 5.5 million and RMB 4.1 million respectively, both of which are recorded as Prepayments to related parties. (c) During the years ended March 31, 2023, and 2024, the Company made advance payments totaling RMB 0.35 million and RMB5.4 million, respectively, to Nanjing Animal Pharmaceutical for the purchase of goods. As of March 31, 2023, and 2024, there were goods valued at RMB 2.0 million and Nil Prepayments to related parties.
Schedule of Amounts Due from Related parties	Amounts due from related parties As of As of As of 2022 2023 2024 RMB RMB RMB Prepayments to related parties SUPERB ORIGIN INTERNATIONAL LIMITED - 5,497 4,065 Nanjing Animal Pharmaceutical 1,650 2,000 - Weishi Network 1,582 1,582 1,401 3,232 9,079 5,466 Other receivables from related parties Wuhan Chunzhijin 7,594 2,988 5,658 Loans to related parties Yan Jiang 200 200 211 Fei Wang (a) 500 - - Lijun Zhou 200 - - Shanghai Guangcheng Information - - 27 MERCHANT TYCOON LIMITED - 100 - 900 300 238 (a) In January 2021, the Company entered into a one-year loan agreement with Fei Wang, for a principal amount of RMB0.5 million, bearing an interest rate of 4% per annum. This loan was pledged by 515,000 stock options owned by Fei Wang. In December 2022, the loan contract was renewed to December 2024 and was recorded as prepayments and other current assets as of March 31, 2024.
Schedule of Amount Due To Related Parties	Amounts due to related parties As of As of As of 2022 2023 2024 RMB RMB RMB Trade payables to related parties Nanjing Animal Pharmaceutical 219 471 -

Organization and Principal Ac_3

Organization and Principal Activities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Loan Agreements [Member] | Repayment of Loan [Member]
Organization and Principal Activities [Line Items]
Third party claim against nominee shareholders	¥ 500,000
Intellectual Property License Agreements [Member]
Organization and Principal Activities [Line Items]
Number of Business days	15 days
Term of agreement	10 years
Extended term	10 years
Period of prior written notice required to terminate the agreement	90 days
Equity Interest Pledge Agreements [Member]
Organization and Principal Activities [Line Items]
Percentage of equity interest pledged by nominal shareholders	100%
VIE [Member]
Organization and Principal Activities [Line Items]
Equity interest percentage	100%
Registered capital	¥ 52,000	¥ 52,000

Organization and Principal Ac_4

Organization and Principal Activities (Details) - Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries	12 Months Ended
	Mar. 31, 2024
Boqii Corporation Limited (“Boqii Corporation”) [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Hong Kong
Date of incorporation or acquisition	July 2012
Percentage of direct or indirect	100%
Principal activities	Investment holding
Boqii International Limited [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Hong Kong
Date of incorporation or acquisition	August 2016
Percentage of direct or indirect	100%
Principal activities	Investment holding
Xingmu International Limited [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	British Virgin Islands
Date of incorporation or acquisition	August 2019
Percentage of direct or indirect	51%
Principal activities	Investment holding
Xingmu HK Limited [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Hong Kong
Date of incorporation or acquisition	November 2019
Percentage of direct or indirect	51%
Principal activities	Investment holding
Nanjing Xinmu Information Technology Co., Ltd. (“Xingmu WFOE”) [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Nanjing, the PRC
Date of incorporation or acquisition	November 2019
Percentage of direct or indirect	51%
Principal activities	Technology development and sales of merchandise
Xincheng (Shanghai) Information Technology Co., Ltd. (“Shanghai Xincheng”) [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Shanghai, the PRC
Date of incorporation or acquisition	November 2012
Percentage of direct or indirect	100%
Principal activities	Technology development and sales of merchandise
Shanghai Yiqin Pets Products Co., Ltd. [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Shanghai, the PRC
Date of incorporation or acquisition	February 2013
Percentage of direct or indirect	100%
Principal activities	Technology development and sales of merchandise
Guangcheng (Shanghai) Information Technology Co., Ltd. (“Shanghai Guangcheng”) [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Shanghai, the PRC
Date of incorporation or acquisition	November 2012
Percentage of direct or indirect	100%
Principal activities	Operates the Company’s own online e-commerce platform
Nanjing Xingmu Biotechnology Co., Ltd. (“Nanjing Xingmu”) [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Nanjing, the PRC
Date of incorporation or acquisition	November 2019
Percentage of direct or indirect	51%
Principal activities	Biotechnology research and development
Suzhou Taicheng Supply Chain Co., Ltd. (“Suzhou Taicheng”) [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Suzhou, the PRC
Date of incorporation or acquisition	June 2021
Percentage of direct or indirect	100%
Principal activities	Sales of merchandise
Suzhou Xingyun Yueming Supply Chain Co., Ltd. (“Suzhou Xingyun”) [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Suzhou, the PRC
Date of incorporation or acquisition	April 2022
Percentage of direct or indirect	100%
Principal activities	Sales of merchandise
Boqii (Shanghai) Information Technology Co., Ltd. [Member]
Schedule of Company’s Principal Subsidiaries, Consolidated VIEs and Major VIEs’ Subsidiaries [Line Items]
Place of incorporation	Shanghai, the PRC
Date of incorporation or acquisition	August 2014
Percentage of direct or indirect	90%
Principal activities	Technology development

Organization and Principal Ac_5

Organization and Principal Activities (Details) - Schedule of Company’s Consolidated Financial Statements - VIE [Member] - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Company’s Consolidated Financial Statements [Line Items]
Cash and cash equivalents	¥ 19,197	¥ 15,522
Accounts receivable, net	23,731	33,172
Inventories, net	11,104	27,894
Prepayments and other current assets	32,418	48,291
Inter-company receivables	19,140	83,700
Property and equipment, net	2,444	4,661
Intangible assets	25	101
Operating lease right-of-use assets	7,346	22,305
Long-term investments	65,849	75,505
Other non-current asset	2,093	5,219
Total assets	190,645	323,140
Short-term borrowings	10,213	363
Accounts payable	2,279	13,459
Salary and welfare payable	440	5,573
Accrued liabilities and other current liabilities	6,759	15,712
Contract liabilities	1,579	4,471
Operating lease liabilities, current	5,254	9,207
Inter-company payables	997,922	1,095,452
Operating lease liabilities, non-current	2,209	12,741
Other debts, non-current	11,500	75,481
Total liabilities	1,038,155	1,232,480
Net revenues:
Total revenues	504,792	872,615	¥ 933,459
Cost of revenues:
Total cost of revenues	(359,120)	(616,328)	(711,246)
Gross profit	145,672	256,287	222,213
Operating expenses:
Total operating expenses	(138,513)	(237,893)	(288,291)
Impairment of goodwill		(994)
Other income, net	961	158	98
Profit/(Loss) from operations	8,120	17,558	(65,980)
Non-operating expense	(15,744)	(29)	(20,680)
Profit/(Loss) before income tax expenses	(7,624)	17,529	(86,660)
Income tax benefits	38	21	681
Share of results of equity investees	50	(82)	418
Net profit/(loss)	(7,536)	17,468	(85,561)
Cash flows from operating activities:
Net cash provided by transactions with external parties	244,798	471,991	526,201
Net cash used in transactions with the Company’s entities	(717,589)	(449,155)	(329,325)
Net cash generated from/ (used in) operating activities	(472,791)	22,836	196,876
Cash flows from investing activities:
Other investing activities	5,219	(9,638)	(18,482)
Cash flows of loan funding provided to the Company’s entities, net of repayments received			6,294
Net cash used in investing activities	5,219	(9,638)	(12,188)
Cash flows from financing activities:
Other financing activities	3,032	(88,469)	(273,906)
Cash flows of loan funding received from the Company’s entities, net of repayments made	468,214	69,204	91,794
Net cash generated from/ (used in) financing activities	471,246	(19,265)	(182,112)
Related Party [Member]
Schedule of Company’s Consolidated Financial Statements [Line Items]
Amounts due from related parties	7,298	6,770
Amounts due to related parties, current		21
Third Party [Member]
Net revenues:
Total revenues	463,457	786,152	877,380
Cost of revenues:
Total cost of revenues	(92,297)	(81,810)	(160,661)
Operating expenses:
Total operating expenses	(138,799)	(237,852)	(288,291)
Inter Company [Member]
Net revenues:
Total revenues	41,335	86,463	56,079
Cost of revenues:
Total cost of revenues	(266,823)	(534,518)	(550,585)
Operating expenses:
Total operating expenses	¥ 286	¥ (41)

Principal Accounting Policies_2

Principal Accounting Policies (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥) segment	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2024 USD ($)	Apr. 01, 2023 CNY (¥)	Apr. 01, 2022 CNY (¥)
Principal Accounting Policies [Line Items]
Short-term investments			¥ 69,797
Short-term borrowings			64,000
Cumulative-effect to retained earnings	¥ 2,800
Reporting unit	1	1
Total contract liabilities						¥ 4,500	¥ 7,000
Recognized revenue	¥ 3,700		3,000
Unearned revenue	1,600
Cost of revenue	568,615	$ 78,752	858,608	¥ 943,698
Advertising expenses	26,000		44,000	81,000
Research and development expenses	2,200		3,700	11,300
Government subsidies	¥ 3,000		300	200
Reportable segment (in segment) | segment	1	1
Cost of Product Sales [Member]
Principal Accounting Policies [Line Items]
Cost of revenue	¥ 560,100		842,700	930,400
Cost of Services [Member]
Principal Accounting Policies [Line Items]
Cost of revenue	¥ 8,500		¥ 15,900	¥ 13,300
US [Member]
Principal Accounting Policies [Line Items]
Convenience translation exchange rate published by the federal reserve board	1				1
China, Yuan Renminbi
Principal Accounting Policies [Line Items]
Convenience translation exchange rate published by the federal reserve board	7.2203				7.2203
US [Member]
Principal Accounting Policies [Line Items]
Foreign currency exchange rate published by people’s bank of china			1
China, Yuan Renminbi
Principal Accounting Policies [Line Items]
Foreign currency exchange rate published by people’s bank of china	7.095		6.8717		7.095

Principal Accounting Policies_3

Principal Accounting Policies (Details) - Schedule of Property Plant and Equipment Useful Lives	12 Months Ended
	Mar. 31, 2024
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements	Over the shorter of the expected life of leasehold improvements or the lease term
Minimum [Member] | Warehouse equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] | Furniture, computer and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] | Warehouse equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member] | Furniture, computer and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years

Principal Accounting Policies_4

Principal Accounting Policies (Details) - Schedule of Finite Lived Intangible Assets Useful Lives	Mar. 31, 2024
Trademark [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	10 years
Dealership [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	10 years
License [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangible assets	4 years 6 months

Business Combinations (Details)

Business Combinations (Details) - Chongni Network Technology (Shanghai) Co., Ltd [Member] - CNY (¥) ¥ in Thousands		9 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2022	Mar. 31, 2022	Oct. 31, 2018
Business Combinations [Line Items]
Business combination, percentage of equity interests acquired				49%
Business combination, date of acquisition			Jun. 30, 2021
Business combination, purchase consideration	¥ 3,200
Business combination, equity interest cash consideration	¥ 2,900
Business combination, previously held equity interest percentage	49%
Business combination, fair value of equity interest amount	¥ 300
Business combination, gain amount			¥ 100
Business combination, revenue amount
Business combination, loss amount		¥ 80
Minimum [Member]
Business Combinations [Line Items]
Business combination, equity interest percentage	49%
Maximum [Member]
Business Combinations [Line Items]
Business combination, equity interest percentage	63.65%

Risks and Concentration (Detail

Risks and Concentration (Details)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Risks and Concentration [Line Items]
Depreciation of foreign currency exchange rate risk	1.70%		2.30%
Appreciation of foreign currency exchange rate risk		8.50%
Customer Concentration Risk [Member] | Customer One [Member] | Revenue Benchmark [Member]
Risks and Concentration [Line Items]
Number of customer
Customer Concentration Risk [Member] | Customer [Member] | Revenue Benchmark [Member]
Risks and Concentration [Line Items]
Concentration risk, percentage	11.40%

Risks and Concentration (Deta_2

Risks and Concentration (Details) - Schedule of Total Purchases	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Supplier Concentration Risk [Member] | Total Purchases [Member] | Supplier One [Member]
Schedules of Concentration of Risk, By Risk Factor [Line Items]
Concentration risk, percentage	26%	22%	17%

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - Schedule of Cash and Cash Equivalents ¥ in Thousands, $ in Thousands, $ in Thousands		Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 HKD ($)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 NZD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 HKD ($)	Mar. 31, 2023 EUR (€)	Mar. 31, 2023 NZD ($)
Cash [Member] | RMB [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents		¥ 42,977					¥ 62,727
Cash [Member] | Hong Kong dollars [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents | $									$ 7
Cash [Member] | US [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents | $			$ 4,192					$ 3,946
Cash [Member] | EUR [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents | €	[1]
Cash [Member] | NZD [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents | $	[1]
Cash Equivalents [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents		72,722					89,850
Cash Equivalents [Member] | RMB [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents		42,977					62,727
Cash Equivalents [Member] | Hong Kong dollars [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents							6
Cash Equivalents [Member] | US [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents		29,745					27,114
Cash Equivalents [Member] | EUR [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	[1]						2
Cash Equivalents [Member] | NZD [Member]
Schedule of Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	[1]						¥ 1
[1]Amount is less than 1,000 in respective foreign currency.

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - Schedule of Accounts Receivable ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance of expected credit loss	¥ (486)		¥ (602)	¥ (469)	¥ (256)
Total	50,118	$ 6,941	76,742
Product sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	47,672		71,471
Online marketing and information service and other service [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	¥ 2,932		¥ 5,873

Accounts Receivable, Net (Det_2

Accounts Receivable, Net (Details) - Schedule of Movement of Allowance of Expected Credit Loss ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)
Schedule of Movement of Allowance of Expected Credit Loss [Abstract]
At beginning of year	¥ 602		¥ 469	¥ 256
Addition/(reversal)	(116)	$ (16)	133	213
At end of year	¥ 486		¥ 602	¥ 469

Inventories (Details)

Inventories (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Inventories [Abstract]
Provision/(reversal) of inventory reserves	¥ (220)	¥ 35	¥ 310

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories, Net of Inventory Reserves ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Schedule of Inventories, Net of Inventory Reserves [Line Items]
Total inventories, net of inventory reserves	¥ 55,189	$ 7,644	¥ 81,052
Products [Member]
Schedule of Inventories, Net of Inventory Reserves [Line Items]
Total inventories, net of inventory reserves	54,992		80,431
Packaging materials and others [Member]
Schedule of Inventories, Net of Inventory Reserves [Line Items]
Total inventories, net of inventory reserves	¥ 197		¥ 621

Inventories (Details) - Sched_2

Inventories (Details) - Schedule of Movement of Inventory Provision /(Reversal) - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Movement of Inventory Provision /(Reversal) [Abstract]
At beginning of year	¥ 612	¥ 577	¥ 266
Provision/(reversal)	(223)	35	311
At end of year	¥ 389	¥ 612	¥ 577

Prepayments and Other Current_3

Prepayments and Other Current Assets (Details) ¥ in Thousands, $ in Millions			3 Months Ended	12 Months Ended	44 Months Ended
		Feb. 29, 2024 CNY (¥)	Nov. 30, 2023 USD ($)	Mar. 31, 2024 CNY (¥)	Feb. 29, 2024 CNY (¥)	Mar. 31, 2023 CNY (¥)
Prepayments and Other Current Assets [Line Items]
Aggregate principal amount					¥ 15,800
Loan receivables	[1]			¥ 5,391		¥ 9,886
Deposit (in Dollars) | $			$ 4.1
Maturity Dates [Member]
Prepayments and Other Current Assets [Line Items]
Loans maturity dates				October 2023 to May 2025
Minimum [Member]
Prepayments and Other Current Assets [Line Items]
Interest rates				0%
Maximum [Member]
Prepayments and Other Current Assets [Line Items]
Interest rates				4%
Individual Counterparty [Member]
Prepayments and Other Current Assets [Line Items]
Aggregate principal amount		¥ 3,000
Aforementioned loan				¥ 3,000
[1]The balance represents loan receivables due from certain third-party companies and individuals. From July 2020 to February 2024, the Company entered into several loan agreements with aggregate principal amount of RMB15.8 million, including RMB 3 million to an individual in February 2024 disclosed on ITEM 16.F on Form 20-F for the year ended March 31, 2024. The maturity dates of these loans are from October 2023 to May 2025. The interest rates ranged from 0% to 4% per annum. As of March 31, 2023 and 2024, the balances of loan receivables were RMB9.9 million and RMB5.4 million, respectively. The aforementioned loan of RMB 3 million has been fully collected as of the date of this annual report.

Prepayments and Other Current_4

Prepayments and Other Current Assets (Details) - Schedule of Prepayments and Other Current Assets ¥ in Thousands, $ in Thousands		Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Prepayments and Other Current Assets [Abstract]
Prepayments for purchases of products	[1]	¥ 29,998		¥ 24,216
Vendor rebate receivables	[2]	9,466		16,160
Value-added tax (“VAT”) deductible	[3]	4,438		10,512
Loan receivables	[4]	5,391		9,886
Sales return assets		2,021		2,835
Deposits	[5]	29,477		999
Others		13,727		14,751
Total		¥ 94,518	$ 13,090	¥ 79,359
[1]Prepayments for purchases of products represent cash prepaid to the Company’s third-party brand partners for the procurement of products.[2]Vendor rebate receivables represent the rebates to be received by the Company from its suppliers after certain levels of purchases are achieved.[3]VAT recoverable represents the balances that the Company can utilize to deduct its value-added tax liabilities within the next 12 months.[4]The balance represents loan receivables due from certain third-party companies and individuals. From July 2020 to February 2024, the Company entered into several loan agreements with aggregate principal amount of RMB15.8 million, including RMB 3 million to an individual in February 2024 disclosed on ITEM 16.F on Form 20-F for the year ended March 31, 2024. The maturity dates of these loans are from October 2023 to May 2025. The interest rates ranged from 0% to 4% per annum. As of March 31, 2023 and 2024, the balances of loan receivables were RMB9.9 million and RMB5.4 million, respectively. The aforementioned loan of RMB 3 million has been fully collected as of the date of this annual report.[5]Between September and November 2023, the Company’s Hong Kong subsidiary wired to a financial advisor an aggregate of approximately US$4.1 million as a deposit pursuant to an agreement entered into with this financial advisor for the Company’s future mergers and acquisitions. As of the date of this annual report, the full amount of the deposit has been returned to the Company.

Property and Equipment, Net (De

Property and Equipment, Net (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Property and Equipment, Net [Abstract]
Depreciation expenses	¥ 2.7	¥ 3.8	¥ 3.7

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of Property and Equipment ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Cost:
Total cost	¥ 25,885		¥ 28,211
Less: Accumulated depreciation	(22,782)		(22,719)
Property and equipment, net	3,103	$ 430	5,492
Warehouse equipment [Member]
Cost:
Total cost	1,945		2,879
Furniture, computer and office equipment [Member]
Cost:
Total cost	5,395		7,082
Vehicles [Member]
Cost:
Total cost	4,740		4,740
Leasehold improvement [Member]
Cost:
Total cost	10,793		10,501
Software [Member]
Cost:
Total cost	¥ 3,012		¥ 3,009

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Intangible Assets, Net [Abstract]
Carrying amount of intangible assets	¥ 17.9	¥ 21.6
Amortization expenses of intangible assets	¥ 3.7	¥ 4	¥ 4

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Schedule of Intangible Assets ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Cost:
Total cost	¥ 35,721		¥ 35,733
Less: Accumulated amortization	(17,811)		(14,139)
Intangible assets, net	17,910	$ 2,481	21,594
Trademarks [Member]
Cost:
Total cost	474		486
License [Member]
Cost:
Total cost	3,530		3,530
Dealership [Member]
Cost:
Total cost	¥ 31,717		¥ 31,717

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details) - Schedule of Annual Estimated Amortization Expense for Intangible Assets ¥ in Thousands	Mar. 31, 2024 CNY (¥)
Schedule of Annual Estimated Amortization Expense for Intangible Assets [Abstract]
Amortization expenses, 2025	¥ 3,247
Amortization expenses, 2026	3,211
Amortization expenses, 2027	3,208
Amortization expenses, 2028	3,193
Amortization expenses, 2029	¥ 3,178

Long-Term Investments (Details)

Long-Term Investments (Details) ¥ in Thousands, $ in Thousands									1 Months Ended	12 Months Ended
	Apr. 30, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Apr. 30, 2022 CNY (¥)	Nov. 30, 2021 CNY (¥)	Jun. 30, 2021 USD ($) shares	Oct. 31, 2019 CNY (¥)	Apr. 30, 2019 CNY (¥)	Oct. 31, 2017	Apr. 30, 2022 CNY (¥)	Mar. 31, 2024 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022
Long-term investments [Line Items]
Equity method investments										¥ 7,383	¥ 7,494
Cash consideration		¥ 3,000	¥ 800		$ 200,000	¥ 50,000
Investment gain		¥ 540							¥ 370
Loan receivable											3,400
Redemption of investment period						60 months		48 months
Carrying value interest rate												3.50%
Better Choice Company Inc. [Member]
Long-term investments [Line Items]
Purchase price (in Shares) | shares					40,000
Jiangsu Nanjing Agricultural University Animal Pharmaceutical Co Ltd [Member]
Long-term investments [Line Items]
Equity interest, percentage				3.33%			8.42%
Cash consideration							¥ 2,500
Fair value of re-measured the investment										10,300	18,000
Unrealized securities holding gains and losses										1,700	¥ 830
Carrying amount				¥ 16,000
Carrying value interest rate				8%
Accrued liabilities and other current liabilities										¥ 2,000
Repay principal loan	¥ 6,000
Amount of interest	800
Additional paid compensation	¥ 1,060
Wuhan Chunzhijin Information Technology Co Ltd [Member]
Long-term investments [Line Items]
Equity interest, percentage										34.65%	24.60%
Qingdao Shuangan Biotechnology Co Ltd [Member]
Long-term investments [Line Items]
Equity interest, percentage			6.20%						6.20%	5.90%
Percentage of equity interests transferred									0.31%
Fair value of re-measured the investment										¥ 15,200	¥ 16,200
Unrealized securities holding gains and losses										1,000	1,140
Beijing Petdog Technology Development Co Ltd [Member]
Long-term investments [Line Items]
Equity interest, percentage						23.64%
Fair value of re-measured the investment										32,900	33,700
Unrealized securities holding gains and losses										¥ 800	¥ 6,400

Long-Term Investments (Detail_2

Long-Term Investments (Details) - Schedule of Long-Term Investment ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Schedule of Long-Term Investment [Abstract]
Equity method investments	¥ 7,383		¥ 7,494
Available-for-sale investments	58,465		68,011
Equity securities with readily determinable fair values	39		102
Total	¥ 65,887	$ 9,126	¥ 75,607

Long-Term Investments (Detail_3

Long-Term Investments (Details) - Schedule of Available-For-Sale Debt Investments - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Available-For-Sale Debt Investments [Abstract]
Cost, Unlisted debt securities	¥ 76,000	¥ 76,000
Gross unrealized gains, Unlisted debt securities
Gross unrealized losses, Unlisted debt securities	(11,535)	(7,561)
Disposal of Long-term investments, Unlisted debt securities	(6,000)	(428)
Fair value, Unlisted debt securities	¥ 58,465	¥ 68,011

Long-Term Investments (Detail_4

Long-Term Investments (Details) - Schedule of Equity Securities With Readily Determinable Fair Values - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Equity Securities With Readily Determinable Fair Values [Abstract]
Cost, Listed company	¥ 1,292	¥ 1,292
Gross unrealized gains, Listed company
Gross unrealized losses, Listed company	(1,253)	(1,190)
Fair value, Listed company	¥ 39	¥ 102

Goodwill (Details)

Goodwill (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2021 CNY (¥)
Goodwill [Abstract]
Goodwill impairment fair value			¥ 119,800
Net assets	¥ 252,918		217,754	¥ 241,823	$ 35,031	¥ 127,693
Impairment charge			¥ 40,684

Goodwill (Details) - Schedule o

Goodwill (Details) - Schedule of Changes in the Carrying Amount of Goodwill ¥ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2024 USD ($)
Goodwill [Abstract]
Goodwill	¥ 40,684		¥ 40,684	¥ 40,684
Accumulated impairment loss	(40,684)		(40,684)
Total				40,684
Transaction during the year
Impairment			¥ (40,684)

Other Non-Current Assets (Detai

Other Non-Current Assets (Details) - CNY (¥) ¥ in Thousands		12 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Other Non-Current Assets [Line Items]
Long-term loan receivables	[1]		¥ 3,421
Loan Agreements [Member]
Other Non-Current Assets [Line Items]
Principal amounts		¥ 3,400
Minimum [Member]
Other Non-Current Assets [Line Items]
Repayment terms		24 months
Maximum [Member]
Other Non-Current Assets [Line Items]
Repayment terms		36 months
[1] From May 2021 to May 2022, the Company entered into interest free loan agreements with three third parties for total principal amounts of RMB3.4 million. The repayment terms of the loan agreements ranged from 24 months to 36 months with due dates from May 2024 to June 2025. As of March 31, 2023 and 2024, the balances of long-term loan receivables were RMB3.4 million and Nil

Other Non-Current Assets (Det_2

Other Non-Current Assets (Details) - Schedule of Other Non-current Assets ¥ in Thousands, $ in Thousands		Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Schedule of Other Non Current Assets [Abstract]
Deposits	[1]	¥ 3,455		¥ 3,165
Long-term loan receivables	[2]			3,421
Total		¥ 3,455	$ 479	¥ 6,586
[1]Deposits mainly consisted of rental deposits and deposit for online stores operated on third party platforms, which will be collected after one year.[2] From May 2021 to May 2022, the Company entered into interest free loan agreements with three third parties for total principal amounts of RMB3.4 million. The repayment terms of the loan agreements ranged from 24 months to 36 months with due dates from May 2024 to June 2025. As of March 31, 2023 and 2024, the balances of long-term loan receivables were RMB3.4 million and Nil

Accrued Liabilities and Other_3

Accrued Liabilities and Other Current Liabilities (Details) - Schedule of Accrued Liabilities and Other Current Liabilities - CNY (¥) ¥ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Accrued Liabilities and Other Current Liabilities [Abstract]
Logistics expenses payables	¥ 5,154	¥ 7,663
Advances from customers	2,666	3,077
Payable for investment	2,563	2,563
Refund obligation of sales returns	2,240	3,113
Professional service fee accruals	1,705	1,694
Accrued advertising expenses		168
Others	2,339	3,826
Total	¥ 16,667	¥ 22,104

Leases (Details) - Schedule of

Leases (Details) - Schedule of Operating Leases ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2024 USD ($)
Assets
Operating lease right-of-use assets	¥ 8,951		¥ 22,354		$ 1,240
Liabilities
Operating lease liabilities, current	5,613		9,220		777
Operating lease liabilities, non-current	3,115		12,741		$ 431
Total operating lease liabilities	¥ 8,728		¥ 21,961
Weighted average remaining lease term (years)	1 year 7 months 24 days		2 years 9 months 7 days		1 year 7 months 24 days
Weighted average discount rate	4.93%		5.38%		4.93%
Operating lease right-of-use assets obtained in exchange for lease obligations	¥ 4,545	$ 629	¥ 8,384	¥ 21,038
Operating lease related expenses
Amortization of right-of-use assets	17,948	2,486	24,597	11,705
Interest of lease liabilities	199		1,777	1,949
Total	18,147		26,374	13,654
Operating lease payments (included in measurement of lease liabilities)	¥ 17,977	$ 2,490	¥ 26,397	¥ 12,849

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Maturities of Lease Liabilities - CNY (¥) ¥ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Maturities of Lease Liabilities [Abstract]
2025	¥ 6,559
2026	2,808
2027	365
Total lease payments	9,732
Less: imputed interest	(1,004)
Total operating lease liabilities	¥ 8,728	¥ 21,961

Interest Expense (Details) - Sc

Interest Expense (Details) - Schedule of Interest Expense ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)
Schedule of Interest Expense [Abstract]
Amortization charges on promissory notes	¥ 5,058		¥ 9,706	¥ 17,144
Interest expense on borrowings	2,268		3,644	3,740
Total	¥ 7,326	$ 1,015	¥ 13,350	¥ 20,884

Other Gains, Net (Details)

Other Gains, Net (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2023 CNY (¥)	Aug. 31, 2022 CNY (¥)	Mar. 31, 2024 CNY (¥)	[1]	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	[1]	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)		Mar. 31, 2022 USD ($)
Other Gains, Net [Line Items]
Reimbursement received									¥ 1,500		$ 200
Investment gain			¥ 49		$ 7	¥ 3,597				[1]
Third-Party Investor [Member]
Other Gains, Net [Line Items]
Investment gain	¥ 50	¥ 3,600
[1]In August 2022, the Company disposed a subsidiary to a third-party investor and recognized an investment gain of RMB 3.6 million. In November 2023, the Company disposed a subsidiary and recognized an investment gain of RMB 0.05 million.

Other Gains, Net (Details) - Sc

Other Gains, Net (Details) - Schedule of Other Gains, Net ¥ in Thousands, $ in Thousands		12 Months Ended
		Mar. 31, 2024 CNY (¥)		Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)		Mar. 31, 2022 CNY (¥)
Schedule of Other Gains, Net [Abstract]
Gain from the re-measurement of the previously held equity interests to the fair value in the step acquisitions							¥ 127
Foreign exchange losses, net		1,089			2,679		5,322
Loss on disposal of other debts		(1,425)
Reimbursement from a depositary bank	[1]						1,482
Investment (loss)/gain		1,820		$ 252	(178)		(622)
Gain on disposal of a subsidiary		49	[2]	7	3,597	[2]		[2]
Discount on the ordinary shares issued by public offering		(5,943)		$ (823)
Others		416			(939)		(289)
Total		¥ (3,994)			¥ 5,159		¥ 6,020
[1]The Company received a reimbursement of US$0.2 million (equivalent to RMB1.5 million), Nil Nil

Income Taxes (Details)

Income Taxes (Details) - CNY (¥) ¥ in Thousands		12 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Taxes [Line Items]
Income tax holiday, description		Shanghai Boqii could enjoy a tax holiday of 2-year EIT exemption and subsequently 3-year 12.5% preferential tax rate and the certificate expired until October 2023.
Income tax rate		1%	1%	1%
Percentage of general income tax rate		25%	25%	25%
Super deduction for research and development expenses		1%	0%	1%
Research and development expenses	[1]	¥ 547	¥ 456	¥ 1,881
Tax loss carryforwards		603,000	654,000
Valuation allowances		¥ 155,255	¥ 166,669	¥ 177,247	¥ 149,978
CHINA
Income Taxes [Line Items]
Percentage of general income tax rate		25%
Enterprise Income Tax [Member] | CHINA
Income Taxes [Line Items]
Income tax rate		25%	12.50%	12.50%
Super Deduction [Member] | CHINA
Income Taxes [Line Items]
Super deduction for research and development expenses		200%
Additional Deduction [Member]
Income Taxes [Line Items]
Additional deduction for research and development expenses		100%
[1]According to the relevant laws and regulations promulgated by the State Administration of Tax of the PRC, from 2013 onwards, enterprises engaging in research and development activities are entitled to claim 200% of their qualified research and development expenses so incurred as tax deductible expenses. The additional deduction of 100% of qualified research and development expenses (the “Super Deduction”) can be directly claimed in the annual EIT filing. For the years end March 31, 2022, 2023 and 2024, the Super Deduction for research and development expenses available to the Company amounted to RMB1.9 million, RMB0.5 million and RMB0.5 million, respectively.

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of Reconciliations of the Differences between the Income Tax Expenses ¥ in Thousands, $ in Thousands		12 Months Ended
		Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)
Schedule of Reconciliations of the Differences between the Income Tax Expenses [Abstract]
Loss before income taxes		¥ (69,875)		¥ (106,805)	¥ (134,812)
Income tax computed at respective applicable tax rates		(17,469)		(26,701)	(33,702)
Effect of different tax jurisdiction		6,976		12,323	2,341
Super deduction for research and development expenses	[1]	(547)		(456)	(1,881)
Non-deductible expenses		115		728	97
Change in valuation allowance		11,852		15,017	34,716
Income tax benefit		¥ 927	$ 128	¥ 911	¥ 1,571
[1]According to the relevant laws and regulations promulgated by the State Administration of Tax of the PRC, from 2013 onwards, enterprises engaging in research and development activities are entitled to claim 200% of their qualified research and development expenses so incurred as tax deductible expenses. The additional deduction of 100% of qualified research and development expenses (the “Super Deduction”) can be directly claimed in the annual EIT filing. For the years end March 31, 2022, 2023 and 2024, the Super Deduction for research and development expenses available to the Company amounted to RMB1.9 million, RMB0.5 million and RMB0.5 million, respectively.

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of Effect of Tax Holiday - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Effect of Tax Holiday [Line Items]
Tax holiday effect	¥ 1,882	¥ 1,235	¥ 3,513
Basic net loss per share effect	¥ 0.02	¥ 0.02	¥ 0.05

Income Taxes (Details) - Sche_3

Income Taxes (Details) - Schedule of Effect of Tax Holiday (Parentheticals) - ¥ / shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Effect of Tax Holiday [Line Items]
Diluted net loss per share effect	¥ 0.02	¥ 0.02	¥ 0.05

Income Taxes (Details) - Sche_4

Income Taxes (Details) - Schedule of Effective Income Tax Rate and the PRC Statutory Income Tax Rates	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Effective Income Tax Rate and the PRC Statutory Income Tax Rates [Abstract]
PRC statutory income tax rates	25%	25%	25%
Tax holiday effect	(3.00%)	(1.00%)	3%
Difference in tax rates of subsidiaries outside PRC	(5.00%)	(10.00%)	(8.00%)
Super deduction for research and development expenses	1%	0%	1%
Non-deductible expenses	0%	1%	0%
Change in valuation allowance	(17.00%)	(14.00%)	(20.00%)
Effective income tax rate	1%	1%	1%

Income Taxes (Details) - Sche_5

Income Taxes (Details) - Schedule of Current and Deferred Portions of Income Tax Expenses ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)
Schedule of Components of Income Tax Expenses Benefit [Abstract]
Current income tax expense/(benefit)	¥ (20)		¥ 78	¥ (582)
Deferred tax benefit	(907)	$ (126)	(989)	(989)
Income tax benefit	¥ (927)	$ (128)	¥ (911)	¥ (1,571)

Income Taxes (Details) - Sche_6

Income Taxes (Details) - Schedule of Deferred Tax Assets and Tax Liabilities - CNY (¥) ¥ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets:
Net accumulated loss-carry forward	¥ 150,667	¥ 163,526
Allowance	861	238
Contract liabilities	60	172
Accruals	889	842
Fair Value Change	2,778	1,891
Less: Valuation allowance	(155,255)	(166,669)	¥ (177,247)	¥ (149,978)
Deferred tax liabilities:
Recognition of intangible assets arising from asset acquisition and business combination	¥ (3,234)	¥ (4,141)

Income Taxes (Details) - Sche_7

Income Taxes (Details) - Schedule of Movement of Valuation Allowance - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Valuation Allowance [Abstract]
Beginning balance	¥ 166,669	¥ 177,247	¥ 149,978
Change of valuation allowance	11,852	15,017	27,269
Written-off for expiration of net operating losses	(23,266)	(22,995)
Decrease of valuation allowances related to the disposal of a subsidiary		(2,600)
Ending balance	¥ 155,255	¥ 166,669	¥ 177,247

Ordinary Share (Details)

Ordinary Share (Details) $ / shares in Units, ¥ in Millions			1 Months Ended			12 Months Ended
	Jul. 28, 2024	Jul. 28, 2023 USD ($)	Sep. 30, 2023 USD ($) $ / shares shares	Feb. 28, 2021 USD ($) shares	Oct. 31, 2020 USD ($) shares	Mar. 31, 2024 CNY (¥) shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 shares
Ordinary Share [Line Items]
Ordinary share ratio					0.75
Gross proceed (in Dollars) | $							$ 3,300,000
Discounted on other losses (in Yuan Renminbi) | ¥						¥ 5.9
VG Master Fund SPC [Member]
Ordinary Share [Line Items]
Issuance of shares						4,500,000	4,500,000
Amount of share value (in Dollars) | $		$ 7,000,000
Gross proceed (in Dollars) | $							$ 3,300,000
Class A Ordinary Share [Member]
Ordinary Share [Line Items]
Common Stock, Shares, Issued							147,691,753	55,763,079
Common Stock, Shares, Outstanding							147,691,753	55,763,079
Total ordinary share					5,250,000
Converted price (in Dollars per share) | $ / shares							$ 0.001
Description of voting rights of common stock						each holder of Class A ordinary share is entitled to one	each holder of Class A ordinary share is entitled to one
Repurchased ordinary shares				521,924
Repurchased share value (in Dollars) | $				$ 4,800,000
Class B Ordinary Share [Member]
Ordinary Share [Line Items]
Common Stock, Shares, Issued							13,037,729	13,037,729
Common Stock, Shares, Outstanding							13,037,729	13,037,729
Converted price (in Dollars per share) | $ / shares							$ 0.001
Number of shares designed						12,204,604	12,204,604
Description of voting rights of common stock						each holder of Class B ordinary share is entitled to twenty votes	each holder of Class B ordinary share is entitled to twenty votes
ADS [Member] | VG Master Fund SPC [Member]
Ordinary Share [Line Items]
Issuance or sale of equity (in Dollars) | $		7,000,000
Fair value of commitment shares (in Dollars) | $		$ 35,000
Series B Preferred Stock [Member]
Ordinary Share [Line Items]
Convertible preferred shares							9,067,384
Converted into ordinary shares							8,557,980
Preferred stock, conversion basis						1:0.94	1:0.94
Series C+ Preferred Shares [Member]
Ordinary Share [Line Items]
Convertible preferred shares							6,734,459
Converted into ordinary shares							6,883,520
Preferred stock, conversion basis						1:1.02	1:1.02
Forecast [Member] | VG Master Fund SPC [Member]
Ordinary Share [Line Items]
Percentage of purchase price	80%
IPO [Member]
Ordinary Share [Line Items]
Net proceeds (in Dollars) | $					$ 61,000,000
IPO [Member] | ADS [Member]
Ordinary Share [Line Items]
Issuance of shares					7,000,000
Over-Allotment Option [Member] | ADS [Member]
Ordinary Share [Line Items]
Issuance of shares					1,050,000
Series A Preferred Stock [Member]
Ordinary Share [Line Items]
Converted into ordinary shares							7,844,137
Preferred stock, conversion basis						1: 0.76	1: 0.76
Series A Preferred Stock [Member] | IPO [Member]
Ordinary Share [Line Items]
Convertible preferred shares							10,340,000
Series C Preferred Stock [Member] | IPO [Member]
Ordinary Share [Line Items]
Converted into ordinary shares							833,125
Private Placement [Member] | Class A Ordinary Share [Member]
Ordinary Share [Line Items]
Common Stock, Shares, Issued			15,000,000
Issuance of shares			15,000,000
Ordinary price per shares (in Dollars per share) | $ / shares			$ 0.233
Total consideration (in Dollars) | $			$ 3,500,000

Redeemable Non-Controlling In_3

Redeemable Non-Controlling Interests (Details) - CNY (¥) ¥ in Thousands		12 Months Ended
	Oct. 31, 2020	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Redeemable non-controlling interests [Line Items]
Accretion of redeemable non-controlling interests		¥ (766)	¥ (675)	¥ (575)
Redeemable non-controlling interest		¥ 7,963	¥ 7,197	¥ 6,522	¥ 5,947
Yoken Holding Limited [Member]
Redeemable non-controlling interests [Line Items]
Redeemable preferred shares (in Shares)	120,000
Amount of redeemable preferred shares	¥ 6,000
Percentage of preferred shares redeemable at redemption price measured by Interest per year Since Issuance of shares		10%

Redeemable Non-Controlling In_4

Redeemable Non-Controlling Interests (Details) - Schedule of Redeemable Non-Controlling Interests Activity - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Redeemable Non-Controlling Interests Activity [Abstract]
Beginning balance	¥ 7,197	¥ 6,522	¥ 5,947
Accretion of redeemable non-controlling interests	766	675	575
Ending balance	¥ 7,963	¥ 7,197	¥ 6,522

Borrowings, Other Debts and D_3

Borrowings, Other Debts and Derivative Liabilities (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands				12 Months Ended
	Oct. 23, 2020 CNY (¥) shares	Oct. 23, 2020 USD ($) $ / shares shares	Mar. 31, 2020 CNY (¥)	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 CNY (¥)	Jun. 30, 2021 USD ($)	Mar. 02, 2020
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Short-term bank borrowings				¥ 15,213		¥ 86,261		$ 2,107
Collateralized short term investments						63,900
Repayments of other debts				6,818	$ 944	87,959	¥ 270,860
Issuance of ordinary shares				41,862
Investment loss				1,400
Proceeds from loans				15,000	2,077	110,553	185,614
Interests expenses of other debts				¥ 5,058	$ 701	9,706	17,144
Derivative Liability, Statement of Financial Position [Extensible Enumeration]				Derivative liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2023 and 2024, respectively)				Derivative liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2023 and 2024, respectively)
Currency to be exchanged							¥ 32,100					$ 5,000	¥ 26,100	$ 4,000	¥ 52,400	$ 8,000
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]				Derivative liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2023 and 2024, respectively)	Derivative liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2023 and 2024, respectively)
Prepayments and other current assets				¥ 94,518		79,359		$ 13,090
Derivative liabilities paid				4,760					¥ 1,250
Carrying value of the forward exchange contracts (in Dollars) | $
Yoken Series A-1 Preferred Shares [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Exercise price (in Dollars per share) | $ / shares		$ 7.14
Long Term Loan From Chong Li [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Principal amount			¥ 128,000
Long Term Bank Loan [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Debt instrument unused borrowing capacity
Yoken Series A-1 Warrant [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Long term borrowings interest rate																	10%
Proceeds from loans			18,000
Debt instrument converted shares issued (in Shares) | shares	120,000	120,000
Aggregate consideration	¥ 6,000
Interests expenses of other debts	1,400
Carrying value of the warrant				32,400		27,300
Fair value of conversion feature				5,700		7,900
Yoken Series A-1 SPA [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Long term borrowings interest rate																	10%
Currency Swap [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Foreign exchange rate							6.42					6.42	6.5128	6.5128	6.5452	6.5452
Forward Exchange Contract [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Payment towards advance settlement of foreign exchange swaps (in Dollars) | $					$ 1,500
Fair value change of derivative liabilities				1,200			¥ 900
Prepayments and other current assets				700
Fair value loss						3,600
Carrying value of derivative liabilities						2,900
Forward Exchange Contract [Member] | Minimum [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Fair value change of derivative liabilities				100
Forward Exchange Contract [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Payment towards advance settlement of foreign exchange swaps (in Dollars) | $					$ 11,000
Cumulative loss				(3,200)
Chong Li [Member] | Long Term Loan From Chong Li [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Principal amount			¥ 128,000
Debt term			5 years
Chong Li [Member] | Preferred Stock [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Issuance of ordinary shares				128,000
Chong Li [Member] | Preferred Stock [Member] | Long Term Loan From Chong Li [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Issuance of ordinary shares				95,000
Investor One [Member] | Yoken Series A-1 Warrant [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Purchase of warrants (in Shares) | shares		360,000
Debt instrument convertible carrying value at the time of conversion	18,000	$ 2,500
Investor Two [Member] | Yoken Series A-1 Warrant [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Purchase of warrants (in Shares) | shares		200,000
Debt instrument convertible carrying value at the time of conversion	¥ 10,000	$ 1,400
Extension Of Loan Agreement [Member] | Chong Li [Member] | Long Term Loan From Chong Li [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Principal amount			¥ 95,000
Extension Of Loan Agreement [Member] | Chong Li [Member] | Long Term Loan From Chong Li [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Repayments of other debts				6,800		36,400
Interest expenses						¥ 4,500
Debt Waiver Agreement [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Waivered borrowings payable										¥ 75,280
Debt Waiver Agreement with Superb Origin [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Waiver investment amount (in Dollars) | $											$ 11,250
Short-Term Bank [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Short term borrowings weighted average interest rate				4%		3.98%		4%
Debt instrument unused borrowing capacity				¥ 5,000		¥ 164,400
Superb Origin International Limited [Member]
Borrowings, Other Debts and Derivative Liabilities [Line Items]
Equity owner percentage				100%				100%

Borrowings, Other Debts and D_4

Borrowings, Other Debts and Derivative Liabilities (Details) - Schedule of Short-Term Borrowings ¥ in Thousands, $ in Thousands	Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Schedule of Short-Term Borrowings [Abstract]
Bank borrowings	¥ 15,213	$ 2,107	¥ 86,261

Borrowings, Other Debts and D_5

Borrowings, Other Debts and Derivative Liabilities (Details) - Schedule of Maturities of Short-Term Borrowings and Long-Term Borrowings - CNY (¥) ¥ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Maturities of Long-term Debt [Abstract]
- Within 1 year	¥ 15,213	¥ 86,261
Total	¥ 15,213	¥ 86,261

Borrowings, Other Debts and D_6

Borrowings, Other Debts and Derivative Liabilities (Details) - Schedule of Other Debts – Non-Current - CNY (¥) ¥ in Thousands		Mar. 31, 2024	Mar. 31, 2023
Schedule of Other Long Term Debt [Line Items]
Other debts, non-current		¥ 43,941	¥ 102,827
Loan from Chong Li [Member]
Schedule of Other Long Term Debt [Line Items]
Other debts, non-current	[1]	10,000	73,981
Loan for Yoken Series A-1 Warrant [Member]
Schedule of Other Long Term Debt [Line Items]
Other debts, non-current	[2]	32,441	27,346
Payable for investment [Member]
Schedule of Other Long Term Debt [Line Items]
Other debts, non-current		¥ 1,500	¥ 1,500
[1]Loan from Chong Li Shanghai Guangcheng signed loan agreement with Chong Li in March 2020 (“Loan from Chong Li”). The loan was interest-free with a principal amount of RMB128 million. The term is 5 years and can be extended if agreed by both Chong Li and Shanghai Guangcheng. The Company accounted for Loan from Chong Li as a long-term debt initially recognized in the amount of RMB95 million (which is the present value of the principal amount of RMB128 million) and subsequently measured at amortized cost. During the years ended March 31, 2023 and 2024, the Company repaid the principal of Loan from Chong Li of RMB36.4 million and RMB6.8 million, respectively. For the years ended March 31, 2023 and 2024, the Company recorded interest expenses of RMB4.5 million and Nil, respectively. The Company issued preferred shares to be settled by Superb Origin International Limited (“Superb Origin”, Chong Li is the 100% equity owner of Superb Origin) after Shanghai Guangcheng repaid the Loan from Chong Li. The Company recorded a receivable for issuance of preferred shares in the amount of RMB95 million (which is the present value of the principal amount of RMB128 million) in mezzanine equity for the consideration of the preferred shares not yet received from Superb Origin. After the completion of the IPO in October 2020, preferred shares were automatically converted into Class A ordinary shares. The Company then recorded the unreceived consideration from Superb Origin as receivable for issuance of ordinary shares under shareholders’ equity (Note 22). In September 2023, Shanghai Guangcheng entered into a debt waiver agreement with Chong Li, which provided that Chong Li waivered RMB75.28 million of the borrowings payable not yet paid by Shanghai Guangcheng. At the same time, the Company entered into a debt waiver agreement with Superb Origin, which provided that the Company would waive the outstanding investment amount of USD11.25 million payable by Superb Origin to it. Accordingly, the Company offset the waiver amount against “other debts” and “receivable for issuance of ordinary shares” accordingly. For the years ended March 31, 2024, the Company recorded an investment loss of RMB1.4million on this transaction (Note 17).[2]Yoken Series A-1 Warrant On March 2, 2020, Yoken Holding Limited (“Yoken”), a wholly owned subsidiary of the Company, entered into a share purchase agreement with three investors (“Yoken Series A-1 SPA”). According to the Yoken Series A-1 SPA, Yoken will issue each investor a warrant (“Yoken Series A-1 Warrant”) to purchase certain quantity of Yoken’s Series A-1 Preferred Shares (“Yoken Series A-1 Preferred Shares”). As the consideration for each Yoken Series A-1 Warrant, the respective investor shall provide a loan (“Loan for Yoken Series A-1 Warrant”) carrying a simple interest of 10% per annum to Chengdu Chongaita Information Technology Co., Ltd. (“Chongaita”), a wholly owned PRC subsidiary of Yoken. Yoken will only issue the Yoken Series A-1 Warrants after Chongaita has received all loan proceeds. Both the issuance of the Yoken Series A-1 Warrants and the receipt of the loan proceeds are closing conditions of the transactions in the Yoken Series A-1 SPA. The Company accounted for the loan as a term loan carrying an annual simple interest of 10%. As of March 31, 2020, the carrying value of the loan proceeds of Yoken Series A-1 Warrant was RMB18 million. On October 23, 2020, one of the investors terminated and entered into a new share purchase agreement with Yoken, pursuant to which 120,000 Yoken Series A-1 Preferred Shares were issued on October 23, 2020 for an aggregated consideration of RMB6 million. On the same day, the Company issued the remaining two investors two warrants to purchase up to 360,000 and 200,000 Yoken Series A-1 Preferred Shares at an exercise price per share of US$ 7.14 in connection with a loan of RMB18 million (equivalent to US$2.5 million) and RMB10 million (equivalent to US$1.4 million) granted to Chongaita (“Loan for Yoken Series A-1 Warrant”). As a debt modification, the Company reversed RMB1.4 million interest expense as other gains, net. The Company recognized the Yoken Series A-1 Warrant and bifurcated the conversion feature as derivative liability out of the total consideration received. As of March 31, 2023 and 2024, the carrying value of Yoken Series A-1 Warrant were RMB27.3 million and RMB32.4 million, respectively, and fair value of conversion feature were RMB7.9 million and RMB5.7 million, respectively.

Borrowings, Other Debts and D_7

Borrowings, Other Debts and Derivative Liabilities (Details) - Schedule of Derivative Liabilities ¥ in Thousands, $ in Thousands		Mar. 31, 2024 CNY (¥)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 CNY (¥)
Schedule of Fair Value of Derivative Liabilities [Line Items]
Derivative liabilities		¥ 5,721	$ 792	¥ 10,701
Conversion feature of Yoken Series A-1 Warrant [Member]
Schedule of Fair Value of Derivative Liabilities [Line Items]
Derivative liabilities	[1]	5,721		7,850
Forward exchange contracts [Member]
Schedule of Fair Value of Derivative Liabilities [Line Items]
Derivative liabilities	[2]			¥ 2,851
[1]The warrant issued in connection with Yoken Series A-1 Warrant is embedded instead of freestanding because it is (1) issued in connection with the instrument and (2) not separately exercisable without terminating the debt instruments. Therefore, each combined instrument (loan with embedded warrant) is substantially similar to a convertible debt where the embedded warrant is similar to a conversion feature able to convert the debt instrument into the Preferred Shares. The Company assessed the embedded warrant along with the conversion features in Yoken Series A-1 Warrant and concluded that it is required to be bifurcated and accounted for separately as derivative liabilities. This is because (1) the embedded warrant or conversion feature, as an equity-linked feature, is not considered clearly and closely related to its debt host instrument, and (2) the redemption rights of the convertible Preferred Shares could give rise to net settlement of the conversion feature of the Preferred Shares.[2]In June and December 2021 and March 2022, the Company entered three new forward exchange contracts with a financial institution. Pursuant to which, the financial institution agreed to purchase US$8 million, US$4 million and US$5 million from the Company in exchange of RMB52.4 million, RMB26.1 million and RMB32.1 million at a fixed foreign exchange rate of 6.5452, 6.5128 and 6.4200 on June 2022, December 2022 and March 2023, respectively. The Company settled in advance with amount of US$11 million and recorded the fair value gain in the amount of RMB1.2 million as fair value change of derivative liabilities. For the year ended March 31, 2022, the fair value gain of the rest forward exchange contracts was RMB0.9 million and was recorded as fair value change of derivative liabilities. The carrying value of the remaining forward exchange contracts was RMB0.7 million and was recorded as prepayments and other current assets. In December 2022 and March 2023, the forward exchange contracts which signed in December 2021 and March 2022 were renewed to December 2023 and March 2024 respectively. And the Company settled in advance with amount of US$1.5 million and recorded the fair value gain in the amount of RMB0.1 million as fair value change of derivative liabilities. For the year ended March 31, 2023, the fair value loss of the rest forward exchange contracts was RMB(3.6) million and was recorded as fair value change of derivative liabilities. The carrying value of the remaining forward exchange contracts was RMB2.9 million and was recorded as derivative liabilities. The forward exchange contracts which signed in December 2021 and March 2022 had expired in December 2023 and March 2024 and the company paid RMB1.25 million and RMB4.76 million respectively to the bank to close the transactions, resulting in a cumulative loss of RMB (3.2) million recorded as fair value change of derivative liabilities. As of March 31,2024, the carrying value of the forward exchange contracts was Nil.

Receivable for Issuance of Or_2

Receivable for Issuance of Ordinary Shares (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Mar. 31, 2024 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 CNY (¥)
Receivable for issuance of ordinary shares [Line Items]
Outstanding investment amount (in Dollars) | $	$ 11,250
Proceeds from contributed capital		¥ 8,800	¥ 87,900
Interest income			6,100
Balances of receivable for issuance of ordinary shares		16,031	83,405	$ 2,220
Shanghai Guangcheng [Member]
Receivable for issuance of ordinary shares [Line Items]
Borrowings payable waivered					¥ 75,280
Common Stock [Member]
Receivable for issuance of ordinary shares [Line Items]
Balances of receivable for issuance of ordinary shares		¥ 16,000	¥ 83,400

Share-Based Compensation (Detai

Share-Based Compensation (Details) ¥ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2020 CNY (¥)	Mar. 31, 2024 CNY (¥) shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2023 CNY (¥) shares	Mar. 31, 2023 USD ($) shares	May 31, 2022 shares	Mar. 31, 2022 USD ($)	Sep. 01, 2020 shares	Aug. 01, 2018 shares	Sep. 27, 2012 shares
Share-Based Compensation [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized						4,000,000
Number of shares, granted		9,511,720	9,511,720
Fair value of the underlying shares (in Dollars) | $			$ 86		$ 123,594		$ 404,409
Unrecognized share based compensation expenses (in Dollars) | $			$ 11,964		$ 322,926
Weighted-average period		8 years 10 months 24 days	8 years 10 months 24 days	3 years 4 months 24 days	3 years 4 months 24 days
Share based compensation expense (in Yuan Renminbi) | ¥	¥ 55	¥ 0.7		¥ (7.7)
Fair value of options granted amount (in Dollars) | $			$ 120,000
2012 Global Share Plan [Member]
Share-Based Compensation [Line Items]
Shares reserved for future issuances										1,061,500
2018 Global Share Plan [Member]
Share-Based Compensation [Line Items]
Shares reserved for future issuances						8,987,836		5,987,836	5,987,836
Amended 2018 Global Share Plan [Member]
Share-Based Compensation [Line Items]
Shares reserved for future issuances						12,987,836		8,987,836
Vest [Member]
Share-Based Compensation [Line Items]
Percentage of entitlement to vest earn by employees		25%	25%

Share-Based Compensation (Det_2

Share-Based Compensation (Details) - Summary of Stock Option Activity - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Summary of Stock Option Activity [Abstract]
Number of shares, Outstanding (in Shares)	10,387,522	3,945,354	5,231,891
Weighted average exercise price, Outstanding	$ 0.35	$ 2.58	$ 2.86
Weighted average remaining contractual term, Outstanding	8 years 11 months 12 days	3 years 5 months 12 days	5 years 3 months
Aggregate intrinsic value, Outstanding (in Dollars)	$ 0	$ 124	$ 404
Weighted average fair value, Outstanding	$ 0.12	$ 2.06	$ 2.36
Number of shares, Granted (in Shares)	9,511,720
Weighted average exercise price, Granted	$ 0.23
Weighted average fair value, Granted	$ 0.01
Weighted average remaining contractual term, Granted
Aggregate intrinsic value, Granted (in Dollars)
Number of shares, Exercisable (in Shares)
Weighted average exercise price, Exercisable
Weighted average remaining contractual term, Exercisable
Aggregate intrinsic value, Exercisable (in Dollars)
Weighted average fair value, Exercisable
Number of shares, Exercised (in Shares)	(37,741)	(53,488)
Weighted average exercise price, Exercised	$ 0.1	$ 0.6
Weighted average fair value, Exercised	$ 0.17	$ 2.26
Weighted average remaining contractual term, Exercised
Number of shares, Forfeited (in Shares)	(3,031,811)	(1,233,050)
Weighted average exercise price, Forfeited	$ 3.4	$ 1.31
Weighted average fair value, Forfeited	$ 3.44	$ 0.86
Weighted average remaining contractual term, Forfeited
Aggregate intrinsic value, Forfeited (in Dollars)

Share-Based Compensation (Det_3

Share-Based Compensation (Details) - Summary of Options Measured At Fair Value, Valuation Assumptions	12 Months Ended
	Mar. 31, 2024
Share-Based Compensation [Line Items]
Expected dividend yield	0%
Contractual term (in years)	10 years
Minimum [Member]
Share-Based Compensation [Line Items]
Expected volatility	50.27%
Risk-free interest rate	3.56%
Exercise multiple	2.8
Maximum [Member]
Share-Based Compensation [Line Items]
Expected volatility	53.83%
Risk-free interest rate	4.04%
Exercise multiple	2.2

Employee Benefits (Details)

Employee Benefits (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Employee Benefits [Abstract]
Employee benefits costs	¥ 8	¥ 9	¥ 7

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of Financial Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis - Fair Value, Recurring [Member] - CNY (¥) ¥ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Assets:
Short-term investments		¥ 69,797
Available-for-sale debt investments	58,465	68,011
Equity securities with readily determinable fair values	39	102
Total assets	58,504	137,910
Liabilities:
Derivative liabilities	5,721	10,701
Quoted price in active markets for identical assets (Level 1) [Member]
Assets:
Short-term investments
Available-for-sale debt investments
Equity securities with readily determinable fair values	39	102
Total assets	39	102
Liabilities:
Derivative liabilities
Significant other observable Inputs (Level 2) [Member]
Assets:
Short-term investments		69,797
Available-for-sale debt investments
Equity securities with readily determinable fair values
Total assets		69,797
Liabilities:
Derivative liabilities
Significant unobservable Inputs (Level 3) [Member]
Assets:
Short-term investments
Available-for-sale debt investments	58,465	68,011
Equity securities with readily determinable fair values
Total assets	58,465	68,011
Liabilities:
Derivative liabilities	¥ 5,721	¥ 10,701

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of Roll Forward of Major Level 3 Investments - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Derivative Financial Instruments, Liabilities [Member]
Schedule of Roll Forward of Major Level 3 Investments [Line Items]
Fair value of Level 3 investments	¥ 10,701	¥ 9,086	¥ 9,996
New addition
Reclassification of forward exchange contracts	(6,014)	(651)	746
Unrealized fair value change of the derivative liabilities	1,034	2,266	(1,656)
Unrealized fair value change of the available-for-sale debt investments
Disposal of available-for-sale debt investments
Fair value of Level 3 investments	5,721	10,701	9,086
Available-for-Sale Securities [Member]
Schedule of Roll Forward of Major Level 3 Investments [Line Items]
Fair value of Level 3 investments	68,011	74,866	71,357
New addition			16,000
Reclassification of forward exchange contracts
Unrealized fair value change of the derivative liabilities
Unrealized fair value change of the available-for-sale debt investments	(3,546)	(6,427)	(12,491)
Disposal of available-for-sale debt investments	(6,000)	(428)
Fair value of Level 3 investments	¥ 58,465	¥ 68,011	¥ 74,866

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of Significant Unobservable Inputs - Available-for-Sale Securities [Member]	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Implied Price to Sales After Discount for Lack of Marketability [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	0.95	1.04
Weighted Average Cost of Capital [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input
Lack of Marketability Discount [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	28	20
Lack of Marketability Discount [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	20
Lack of Marketability Discount [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	32
Risk-Free Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	2.08	2.31
Risk-Free Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	1.87	2.6
Risk-Free Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	2.17	2.19
Expected Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	43.47	43.65
Expected Volatility [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	41.55	47.19
Expected Volatility [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale, Measurement Input	45.49	32.08
Probability [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	Liquidation scenario: 40%, 35% Redemption scenario: 40%, 35% IPO scenario: 20%, 30%	Liquidation scenario: 35%, 40% Redemption scenario: 35%, 40% IPO scenario: 30%, 20%

Fair Value Measurements (Deta_4

Fair Value Measurements (Details) - Schedule of Fair Value of Derivative Liabilities - Derivative Financial Instruments, Liabilities [Member]	Mar. 31, 2024	Mar. 31, 2023
Spot price (US$) [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	5.9	5.9
Risk-free rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	4.91	3.83
Expected volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	58.28	61.13
Expected expiry years (in years) [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant unobservable inputs	1.6	2.6

Net Loss Per Share (Details) -

Net Loss Per Share (Details) - Schedule of Earnings Per Share ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands		12 Months Ended
		Mar. 31, 2024 CNY (¥) ¥ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 CNY (¥) ¥ / shares shares	Mar. 31, 2022 CNY (¥) ¥ / shares shares
Schedule of Earnings Per Share [Abstract]
Net loss attributable to Boqii Holding Limited		¥ (63,664)	$ (8,817)	¥ (102,799)	¥ (128,390)
Basic (in Yuan Renminbi per share) | (per share)		¥ (0.64)	$ (0.09)	¥ (1.5)	¥ (1.9)
Accretion on the Redeemable non-controlling interests to redemption value (Note 20)		¥ (766)		¥ (675)	¥ (575)
Diluted (in Yuan Renminbi per share) | (per share)		¥ (0.64)	$ (0.09)	¥ (1.5)	¥ (1.9)
Net loss attributable to ordinary shareholders		¥ (64,430)		¥ (103,474)	¥ (128,965)
Weighted average number of ordinary shares used in computing net loss per share,
Basic (in Shares) | shares	[1]	100,637,760	100,637,760	68,858,823	68,006,172
Diluted (in Shares) | shares	[1]	100,637,760	100,637,760	68,858,823	68,006,172
Net loss per share attributable to ordinary shareholders:
Net loss attributable to Boqii Holding Limited		¥ (63,664)	$ (8,817)	¥ (102,799)	¥ (128,390)
Basic (in Yuan Renminbi per share) | (per share)		¥ (0.64)	$ (0.09)	¥ (1.5)	¥ (1.9)
Accretion on the Redeemable non-controlling interests to redemption value (Note 20)		¥ (766)		¥ (675)	¥ (575)
Diluted (in Yuan Renminbi per share) | (per share)		¥ (0.64)	$ (0.09)	¥ (1.5)	¥ (1.9)
Net loss attributable to ordinary shareholders		¥ (64,430)		¥ (103,474)	¥ (128,965)
[1]Options exercisable for a minimal exercise price (the “Penny Stock”) are included in the denominator of basic loss per share calculation once there are no further vesting conditions or contingencies associated with them, as they are considered issuable shares. Basic net loss per share is computed using the weighted average number of ordinary shares outstanding and the Penny Stock during the reporting periods. Diluted net loss per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding and the Penny Stock during the reporting periods.

Net Loss Per Share (Details) _2

Net Loss Per Share (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share - shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share Options - Weighted Average [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share options - weighted average	488,853	591,418	719,437

Related Party Transactions (Det

Related Party Transactions (Details) ¥ in Thousands, $ in Millions	1 Months Ended					12 Months Ended
	Mar. 31, 2023 CNY (¥)	Jan. 31, 2023 CNY (¥)	Apr. 30, 2021 CNY (¥)	Apr. 30, 2021 USD ($)	Jan. 31, 2021 CNY (¥) shares	Mar. 31, 2024 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2022 USD ($)
Related Party Transactions [Line Items]
Withdrawal of loan								¥ 10,000	$ 1.5
Interest bearing rate								3.50%	3.50%
Prepayments to related parties						¥ 4,100	¥ 5,500
Value of the purchased goods							2,000
Shanghai Guangcheng Information [Member]
Related Party Transactions [Line Items]
Principal amount of debt			¥ 33,400	$ 5
Short term interest bearing rate			3.50%	3.50%
Total loan facility (in Dollars) | $				$ 5
Wuhan Chunzhijin [Member]
Related Party Transactions [Line Items]
Principal amount of debt						10,000
Conversion of debt into equity interest	¥ 3,400
Superb Origin International Limited [Member]
Related Party Transactions [Line Items]
Payment for advance		¥ 5,500
Nanjing Animal Pharmaceutical [Member]
Related Party Transactions [Line Items]
Payment for advance						¥ 5,400	¥ 350
Fei Wang [Member]
Related Party Transactions [Line Items]
Principal amount of debt					¥ 500
Short term interest bearing rate					4%
Loan pledged by stock options (in Shares) | shares					515,000

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of Major Related Parties and their Relationships	12 Months Ended
	Mar. 31, 2024
Nanjing Animal Pharmaceutical [Member]
Related Party Transaction [Line Items]
Relationship with the Company	An equity investee of the Company until December, 2022
Wuhan Chunzhijin [Member]
Related Party Transaction [Line Items]
Relationship with the Company	An equity investee of the Company
Weishi Network [Member]
Related Party Transaction [Line Items]
Relationship with the Company	An equity investee of the Company
Beijing Petdog [Member]
Related Party Transaction [Line Items]
Relationship with the Company	An available-for-sale debt investee that the Company has significant influence
Shanghai Guangcheng Information Technology (limited partnership) (“Shanghai Guangcheng Information”) [Member]
Related Party Transaction [Line Items]
Relationship with the Company	A company with a common director of the Company
MERCHANT TYCOON LIMITED [Member]
Related Party Transaction [Line Items]
Relationship with the Company	A shareholder of the Company
SUPERB ORIGIN INTERNATIONAL LIMITED [Member]
Related Party Transaction [Line Items]
Relationship with the Company	A shareholder of the Company
Yingzhi (Lisa) Tang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Senior management of the Company
Yan Jiang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Senior management of the Company
Di (Jackie) Chen [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Senior management of the Company until July, 2021
Ying (Christina) Zhang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Senior management of the Company until February, 2022
Fei Wang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Senior management of the Company until April, 2022
Lijun Zhou [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Senior management of the Company until April, 2022

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of Related Party Transactions - CNY (¥) ¥ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Online marketing and information services			¥ 19
Purchase of merchandise	3,891	1,402	2,602
Weishi Network [Member]
Related Party Transaction [Line Items]
Online marketing and information services			19
Purchase of merchandise			1,582
Nanjing Animal Pharmaceutical [Member]
Related Party Transaction [Line Items]
Purchase of merchandise	¥ 3,891	¥ 1,402	¥ 1,020

Related Party Transactions (D_4

Related Party Transactions (Details) - Schedule of Loans Granted to Related Parties - CNY (¥) ¥ in Thousands		12 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Loans granted to related parties		¥ 4,761	¥ 2,820	¥ 38,115
Shanghai Guangcheng Information [Member]
Related Party Transaction [Line Items]
Loans granted to related parties	[1]			33,395
Wuhan Chunzhijin [Member]
Related Party Transaction [Line Items]
Loans granted to related parties	[2]	4,761	2,720	2,600
MERCHANT TYCOON LIMITED [Member]
Related Party Transaction [Line Items]
Loans granted to related parties			100
Yingzhi (Lisa) Tang [Member]
Related Party Transaction [Line Items]
Loans granted to related parties				1,750
Lijun Zhou [Member]
Related Party Transaction [Line Items]
Loans granted to related parties				300
Yan Jiang [Member]
Related Party Transaction [Line Items]
Loans granted to related parties				¥ 70
[1]In April 2021, the Company granted Shanghai Guangcheng Information a short-term loan with a total principal amount of RMB33.4 million (equivalent to USD5 million), bearing an interest rate of 3.5% per annum. The loan was fully repaid by March 31, 2022.[2]The Company entered into a loan agreement with Wuhan Chunzhijin to provide Wuhan Chunzhijin with an interest-free loan of up to RMB10 million, which will be repaid on demand. In March 2023, the company converted RMB3.4 million loan to Wuhan Chunzhijin into equity interest. (Detail refer to Note 11).

Related Party Transactions (D_5

Related Party Transactions (Details) - Schedule of Advances Provided to Related Parties - CNY (¥) ¥ in Thousands		12 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Advances provided to related parties		¥ 5,413	¥ 5,847
SUPERB ORIGIN INTERNATIONAL LIMITED [Member]
Related Party Transaction [Line Items]
Advances provided to related parties	[1]		5,497
Nanjing Animal Pharmaceutical [Member]
Related Party Transaction [Line Items]
Advances provided to related parties	[2]	5,413	350
Shanghai Guangcheng Information [Member]
Related Party Transaction [Line Items]
Loans granted from related parties	[3]			¥ 9,961
[1]In January 2023, the Company made an advance payment of RMB 5.5 million to SUPERB ORIGIN INTERNATIONAL LIMITED for the purchase of goods. As of March 31, 2023 and 2024, the balance of the advance payment was RMB 5.5 million and RMB 4.1 million respectively, both of which are recorded as Prepayments to related parties. Nil Prepayments to related parties.

Related Party Transactions (D_6

Related Party Transactions (Details) - Schedule of Amounts Due from Related parties - CNY (¥) ¥ in Thousands		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
SUPERB ORIGIN INTERNATIONAL LIMITED [Member]
Related Party Transaction [Line Items]
Prepayments to related parties		¥ 4,065	¥ 5,497
Nanjing Animal Pharmaceutical [Member]
Related Party Transaction [Line Items]
Prepayments to related parties			2,000	1,650
Weishi Network [Member]
Related Party Transaction [Line Items]
Prepayments to related parties		1,401	1,582	1,582
Related Party [Member]
Related Party Transaction [Line Items]
Prepayments to related parties		5,466	9,079	3,232
Loans to related parties		238	300	900
Wuhan Chunzhijin [Member]
Related Party Transaction [Line Items]
Other receivables from related parties		5,658	2,988	7,594
Yan Jiang [Member]
Related Party Transaction [Line Items]
Loans to related parties		211	200	200
Fei Wang [Member]
Related Party Transaction [Line Items]
Loans to related parties	[1]			500
Lijun Zhou [Member]
Related Party Transaction [Line Items]
Loans to related parties				200
Shanghai Guangcheng Information [Member]
Related Party Transaction [Line Items]
Loans to related parties		27
MERCHANT TYCOON LIMITED [Member]
Related Party Transaction [Line Items]
Loans to related parties			¥ 100
[1]In January 2021, the Company entered into a one-year loan agreement with Fei Wang, for a principal amount of RMB0.5 million, bearing an interest rate of 4% per annum. This loan was pledged by 515,000 stock options owned by Fei Wang. In December 2022, the loan contract was renewed to December 2024 and was recorded as prepayments and other current assets as of March 31, 2024.

Related Party Transactions (D_7

Related Party Transactions (Details) - Schedule of Amount Due To Related Parties - CNY (¥) ¥ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Nanjing Animal Pharmaceutical [Member]
Related Party Transaction [Line Items]
Nanjing Animal Pharmaceutical		¥ 471	¥ 219

Restricted Net Assets (Details)

Restricted Net Assets (Details)	12 Months Ended
	Mar. 31, 2024 USD ($)
Restricted net assets [Line Items]
Restriction amounted (in Dollars)
Maximum percentage of restricted net assets of consolidated and unconsolidated subsidiaries	25%
Threshold maximum percentage of restricted net assets not met by the consolidated subsidiaries	25%
CHINA
Restricted net assets [Line Items]
Required minimum percentage of annual appropriations to general reserve fund or statutory surplus fund	10%
Statutory Surplus Reserve [Member] | CHINA | Domestic Enterprise [Member]
Restricted net assets [Line Items]
Required minimum percentage of annual appropriations to general reserve fund	10%
Maximum percentage of statutory surplus reserve related to entity's registered capital	50%