LakeShore Biopharma (LSB) POS AM 23 Jan 24 Prospectus update (post-effective amendment) Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Sep. 30, 2023
Document Information Line Items
Entity Registrant Name	YS Biopharma Co., Ltd.
Document Type	POS AM
Amendment Flag	true
Amendment Description	On May 12, 2023, YS Biopharma Co., Ltd filed Amendment No.1 to a Registration Statement on Form F-1 (Registration No. 333-271221), which was subsequently declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 5, 2023 (the “Registration Statement”).On August 8, 2023, YS Biopharma Co., Ltd. filed Post-effective Amendment No. 1 to the Registration Statement to update the Registration Statement to (i) include information contained in the registrant’s annual report on Form 20-F for the fiscal year ended March 31, 2023, initially filed with the SEC on July 26, 2023, and (ii) to update certain other information contained in the Registration Statement.This Post-effective Amendment No. 2 is being filed to further update the Registration Statement to (i) include unaudited condensed consolidated financial information for the six months ended September 30, 2023 and (ii) update certain other information contained in the Post-effective Amendment No. 1 and the Registration Statement.No additional securities are being registered under this Post-effective Amendment No. 2. All applicable registration fees were paid at the time of the original filing of the Registration Statement.
Entity Central Index Key	0001946399
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Incorporation, State or Country Code	E9

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets		Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Current assets
Cash		¥ 259,905,532	$ 36,199,550	¥ 370,108,059	$ 53,859,752	¥ 271,067,503
Restricted cash				261,766	38,093
Accounts receivable, net		429,368,934	59,802,353	463,051,792	67,385,333	308,555,105
Advance to suppliers, net		21,168,706	2,948,370	6,763,326	984,229	10,648,306
Inventories, net		212,820,371	29,641,546	185,380,952	26,977,451	166,505,565
Prepaid expenses and other current assets		11,341,675	1,579,664	10,412,769	1,515,312	7,987,914
Total current assets		934,605,218	130,171,483	1,035,978,664	150,760,170	764,764,393
Non-current assets
Property, plant and equipment, net		561,678,490	78,230,381	571,756,443	83,204,512	550,153,110
Operating lease right-of-use assets, net		9,607,109	1,338,075	11,132,428	1,620,040	14,850,283
Deferred tax assets, net		2,725,934	379,667	1,905,581	277,309	3,039,084
Intangible assets, net		74,638,356	10,395,604	78,056,792	11,359,168	80,717,978
Other assets, non-current		28,027,997	3,903,729	20,923,703	3,044,909	28,228,293
Total non-current assets		676,677,886	94,247,456	683,774,947	99,505,938	676,988,748
Total assets		1,611,283,104	224,418,939	1,719,753,611	250,266,108	1,441,753,141
Current liabilities
Bank loans and other borrowings – current		182,741,935	25,452,232	193,736,563	28,193,397	111,733,754
Accounts payable		84,978,140	11,835,725	80,439,489	11,705,908	30,811,100
Accrued expenses and other liabilities		388,071,992	54,050,530	377,536,644	54,940,793	326,751,353
Operating lease liabilities – current		5,027,649	700,249	4,753,547	691,757	4,322,252
Deferred government grants – current		2,295,701	319,744	2,295,701	334,081	2,295,701
Total current liabilities		663,115,417	92,358,480	658,761,944	95,865,936	475,914,160
Non-current liabilities
Bank loans and other borrowings – non-current		361,965,073	50,414,367	293,790,596	42,753,699	253,928,000
Operating lease liabilities – non-current		4,462,505	621,536	6,348,890	923,918	10,605,260
Deferred government grants – non-current		22,458,657	3,128,034	23,606,507	3,435,323	30,053,517
Warrants liability		2,185,122	304,343	8,792,389	1,279,507
Total non-current liabilities		391,071,357	54,468,280	332,538,382	48,392,447	294,586,777
Total liabilities		1,054,186,774	146,826,760	991,300,326	144,258,383	770,500,937
Mezzanine equity
Total mezzanine equity						1,370,221,392
Ordinary shares value	[1]	12,297	1,713	12,297	1,790	7,978
Additional paid-in capital		2,656,891,036	370,050,842	2,656,891,036	386,642,466	808,502,018
Accumulated deficit		(2,048,560,763)	(285,322,817)	(1,874,037,965)	(272,718,245)	(1,590,567,163)
Accumulated other comprehensive loss		(51,246,240)	(7,137,559)	(54,412,083)	(7,918,286)	83,087,979
Total shareholders’ equity		557,096,330	77,592,179	728,453,285	106,007,725	(698,969,188)
Shareholders’ equity
Total liabilities and shareholders’ equity		¥ 1,611,283,104	$ 224,418,939	1,719,753,611	250,266,108	1,441,753,141
Series A and Series A-1 Redeemable Convertible Preferred Shares
Mezzanine equity
Preferred shares value						458,074,468
Series B Redeemable Convertible Preferred Shares
Mezzanine equity
Preferred shares value						¥ 912,146,924
[1]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
Ordinary shares, par value (in Dollars per share)	$ 0.00002	$ 0.00002
Ordinary shares, shares authorized	9,950,000,000	9,950,000,000
Ordinary shares, issued	93,058,197	93,058,197
Ordinary shares, outstanding	93,058,197	93,058,197
Series A and Series A-1 Redeemable Convertible Preferred Shares
Redeemable convertible preferred shares, par value (in Dollars per share)	$ 0.000005	$ 0.000005
Redeemable convertible preferred shares, shares authorized	50,000,000	50,000,000
Redeemable convertible preferred shares, shares issued	21,548,589	21,548,589
Redeemable convertible preferred shares, shares outstanding	21,548,589	21,548,589
Series B Redeemable Convertible Preferred Shares
Redeemable convertible preferred shares, par value (in Dollars per share)	$ 0.000005	$ 0.000005
Redeemable convertible preferred shares, shares authorized	100,000,000	100,000,000
Redeemable convertible preferred shares, shares issued	65,414,858	65,414,858
Redeemable convertible preferred shares, shares outstanding	65,414,858	65,414,858

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss		6 Months Ended			12 Months Ended
		Sep. 30, 2023 CNY (¥) ¥ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 CNY (¥) ¥ / shares shares	Mar. 31, 2023 CNY (¥) ¥ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 CNY (¥) ¥ / shares shares	Mar. 31, 2021 CNY (¥) ¥ / shares shares
Income Statement [Abstract]
Revenues		¥ 273,092,454	$ 38,036,220	¥ 399,534,723	¥ 687,201,070	$ 100,004,521	¥ 502,949,894	¥ 257,015,929
Cost of revenues		52,187,142	7,268,607	93,700,779	153,360,262	22,317,660	117,066,090	59,656,877
Gross profit		220,905,312	30,767,613	305,833,944	533,840,808	77,686,861	385,883,804	197,359,052
Operating expenses:
Selling and marketing		157,700,204	21,964,429	150,228,079	272,927,356	39,717,589	185,999,704	73,485,259
General and administrative		67,610,523	9,416,770	49,587,013	81,595,277	11,874,103	107,620,500	155,334,386
Research and development		178,853,200	24,910,610	123,861,107	318,700,526	46,378,702	211,222,263	94,387,144
Total operating expenses		404,163,927	56,291,809	323,676,199	673,223,159	97,970,394	504,842,467	323,206,789
Loss from operations		(183,258,615)	(25,524,196)	(17,842,255)	(139,382,351)	(20,283,533)	(118,958,663)	(125,847,737)
Other income (expenses):
Late fees related to income tax | ¥								(11,464,741)
Late fees related to taxes other than income tax					(3,603)	(524)	(231,231)	(7,261,947)
Financial expenses, net					(30,857,673)	(4,490,544)	(2,717,433)	(29,689,927)
Other income (expenses):
Late fees for social security insurance		(446,176)	(62,143)	(299,417)	(747,609)	(108,795)	(1,852,378)	(7,701,793)
Government grants		14,627,559	2,037,321	22,456,691	26,072,517	3,794,187	23,020,413	3,530,405
Interest income		1,957,620	272,657	266,433
Interest expense		(14,926,098)	(2,078,902)	(15,215,867)
Fair value changes of warrant liability		6,851,308	954,248		21,358	3,108
Other income (expense), net		(148,749)	(20,718)	74,675	551,760	80,295	(327,987)	4,063,743
Total other income, net		7,915,464	1,102,463	7,282,515	(4,963,250)	(722,273)	17,891,384	(48,524,260)
Loss before income taxes		(175,343,151)	(24,421,733)	(10,559,740)	(144,345,601)	(21,005,806)	(101,067,279)	(174,371,997)
Income tax (expense) benefit		820,353	114,258	(565,625)	(1,133,504)	(164,952)	(4,937,122)	(17,454,245)
Net loss		(174,522,798)	(24,307,475)	(11,125,365)	(145,479,105)	(21,170,758)	(106,004,401)	(191,826,242)
Accretion to redemption value of convertible redeemable preferred shares				(72,083,238)	(137,991,697)	(20,081,159)	(130,662,326)	(16,610,297)
Net loss attributable to YS Group		(174,522,798)	(24,307,475)	(83,208,603)	(283,470,802)	(41,251,917)	(236,666,727)	(208,436,539)
Net loss		(174,522,798)	(24,307,475)	(11,125,365)	(145,479,105)	(21,170,758)	(106,004,401)	(191,826,242)
Other comprehensive (loss) income: foreign currency translation adjustment		3,165,843	440,937	(168,653,952)	(137,500,062)	(20,009,614)	38,864,606	22,455,217
Total comprehensive loss		¥ (171,356,955)	$ (23,866,538)	¥ (179,779,317)	¥ (282,979,167)	$ (41,180,372)	¥ (67,139,795)	¥ (169,371,025)
Loss per share*:
Basic (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	¥ (1.88)	$ (0.26)	¥ (0.18)	¥ (1.56)	$ (0.23)	¥ (1.71)	¥ (3.1)
Weighted average number of ordinary shares outstanding*:
Basic (in Shares) | shares	[1]	93,058,197	93,058,197	61,785,466	93,058,197	93,058,197	61,827,883	61,827,883
[1]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (Parentheticals)		6 Months Ended			12 Months Ended
		Sep. 30, 2023 $ / shares shares	Sep. 30, 2023 ¥ / shares shares	Sep. 30, 2022 ¥ / shares shares	Mar. 31, 2023 $ / shares shares	Mar. 31, 2023 ¥ / shares shares	Mar. 31, 2022 ¥ / shares shares	Mar. 31, 2021 ¥ / shares shares
Income Statement [Abstract]
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	$ (0.26)	¥ (1.88)	¥ (0.18)	$ (0.23)	¥ (1.56)	¥ (1.71)	¥ (3.10)
Diluted	[1]	93,058,197	93,058,197	61,785,466	93,058,197	93,058,197	61,827,883	61,827,883
[1]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Changes in Shareholders’ (Deficit)/Equity		Previously Reported Ordinary shares CNY (¥) shares		Previously Reported Ordinary shares USD ($) shares		Previously Reported Additional paid-in capital CNY (¥)	Previously Reported Additional paid-in capital USD ($)	Previously Reported Deficit CNY (¥)	Previously Reported Deficit USD ($)	Previously Reported Accumulated other comprehensive income/(loss) CNY (¥)	Previously Reported Accumulated other comprehensive income/(loss) USD ($)	Previously Reported CNY (¥)	Previously Reported USD ($)	Ordinary shares CNY (¥) shares		Ordinary shares USD ($) shares		Additional paid-in capital CNY (¥)	Additional paid-in capital USD ($)	Deficit CNY (¥)	Deficit USD ($)	Accumulated other comprehensive income/(loss) CNY (¥)	Accumulated other comprehensive income/(loss) USD ($)	CNY (¥) shares		USD ($) shares
Balance (in Dollars) | ¥														¥ 6,797	[1]			¥ 276,368,115		¥ (1,145,463,897)		¥ 21,768,156		¥ (847,320,829)
Balance (in Shares)	[1]													53,220,905		53,220,905
Balance at Mar. 31, 2020 | ¥														¥ 6,797	[1]			276,368,115		(1,145,463,897)		21,768,156		(847,320,829)
Balance (in Shares) at Mar. 31, 2020	[1]													53,220,905		53,220,905
Shareholders’ contribution | ¥														¥ 1,181	[1]			447,681,763						447,682,944
Shareholders’ contribution (in Shares)	[1]													8,606,978		8,606,978
Accretion to redemption value of convertible redeemable preferred shares | ¥															[1]					(16,610,297)				(16,610,297)
Accretion to redemption value of convertible redeemable preferred shares (in Shares)	[1]
Net loss | ¥															[1]					(191,826,242)				(191,826,242)
Share-based compensation | ¥															[1]			76,756,500						76,756,500
Share-based compensation (in Shares)	[1]
Foreign currency translation adjustment | ¥															[1]							22,455,217		¥ 22,455,217
Foreign currency translation adjustment (in Shares)															[1]		[1]							61,827,883	[2]	61,827,883	[2]
Balance at Mar. 31, 2021 | $				$ 7,978	[1]		$ 800,806,378		$ (1,353,900,436)		$ 44,223,373		$ (508,862,707)
Balance (in Shares) at Mar. 31, 2021	[1]	61,827,883		61,827,883
Balance (in Dollars) | $				$ 7,978	[1]		800,806,378		(1,353,900,436)		44,223,373		(508,862,707)
Balance (in Shares)	[1]	61,827,883		61,827,883
Accretion to redemption value of convertible redeemable preferred shares | ¥			[1]					¥ (130,662,326)				¥ (130,662,326)												¥ (130,662,326)
Accretion to redemption value of convertible redeemable preferred shares (in Shares)	[1]
Net loss | ¥			[1]					(106,004,401)				(106,004,401)												¥ (106,004,401)
Share-based compensation | ¥			[1]			7,764,448						7,764,448
Share-based compensation (in Shares)	[1]
Foreign currency translation adjustment | ¥			[1]			(68,808)				38,864,606		38,795,798
Foreign currency translation adjustment (in Shares)			[1]		[1]																			61,827,883	[2]	61,827,883	[2]
Balance at Mar. 31, 2022				$ 7,978	[1]		808,502,018		(1,590,567,163)		83,087,979		(698,969,188)	¥ 7,978	[1]			808,502,018		(1,590,567,163)		83,087,979		¥ (698,969,188)
Balance (in Shares) at Mar. 31, 2022		61,827,883	[1]	61,827,883	[1]									61,827,884	[1]	61,827,884	[1]							93,058,197		93,058,197
Balance (in Dollars)				$ 7,978	[1]		808,502,018		(1,590,567,163)		83,087,979		(698,969,188)	¥ 7,978	[1]			808,502,018		(1,590,567,163)		83,087,979		¥ (698,969,188)
Balance (in Shares)		61,827,883	[1]	61,827,883	[1]									61,827,884	[1]	61,827,884	[1]							93,058,197		93,058,197
Accretion to redemption value of convertible redeemable preferred shares | ¥															[1]					(72,083,238)				¥ (72,083,238)
Accretion to redemption value of convertible redeemable preferred shares (in Shares)	[1]
Net loss | ¥															[1]					(11,125,365)				(11,125,365)
Share-based compensation | ¥															[1]			(85,316)						(85,316)
Share-based compensation (in Shares)	[1]													(143,750)		(143,750)
Foreign currency translation adjustment | ¥															[1]			231,807				(168,653,952)		¥ (168,422,145)
Foreign currency translation adjustment (in Shares)															[1]		[1]							61,785,466	[2]	61,785,466	[2]
Balance at Sep. 30, 2022														¥ 7,978	[1]	$ 1,124	[1]	808,648,509	$ 113,897,365	(1,673,775,766)	$ (235,749,706)	(85,565,973)	$ (12,051,884)	¥ (950,685,252)		$ (133,903,101)
Balance (in Shares) at Sep. 30, 2022	[1]													61,684,134		61,684,134
Balance at Mar. 31, 2022				$ 7,978	[1]		808,502,018		(1,590,567,163)		83,087,979		(698,969,188)	¥ 7,978	[1]			808,502,018		(1,590,567,163)		83,087,979		¥ (698,969,188)
Balance (in Shares) at Mar. 31, 2022		61,827,883	[1]	61,827,883	[1]									61,827,884	[1]	61,827,884	[1]							93,058,197		93,058,197
Conversion of mezzanine equity | ¥		¥ 3,007	[1]			1,636,894,077						1,636,897,084
Conversion of mezzanine equity (in Shares)	[1]	21,740,862		21,740,862
Issuance of common stock | ¥		¥ 1,332	[1]			216,376,861						216,378,193
Issuance of common stock (in Shares)	[1]	9,633,202		9,633,202
Warrant from business combination | ¥			[1]			(8,870,007)						(8,870,007)
Warrant from business combination (in Shares)	[1]
Additional paid-in capital from business combination | ¥			[1]			483,066						483,066
Additional paid-in capital from business combination (in Shares)	[1]
Accretion to redemption value of convertible redeemable preferred shares			[1]					(137,991,697)				(137,991,697)												¥ (137,991,697)		$ (20,081,159)
Net loss			[1]					(145,479,105)				(145,479,105)												¥ (145,479,105)		$ (21,170,758)
Share-based compensation | ¥		¥ (20)	[1]			3,505,021						3,505,001
Share-based compensation (in Shares)	[1]	(143,750)		(143,750)
Foreign currency translation adjustment | ¥			[1]							(137,500,062)		(137,500,062)
Foreign currency translation adjustment (in Shares)			[1]		[1]																			93,058,197	[2]	93,058,197	[2]
Balance at Mar. 31, 2023		¥ 12,297	[1]	$ 1,790	[1]	2,656,891,036	386,642,466	(1,874,037,965)	(272,718,245)	(54,412,083)	(7,918,286)	728,453,285	106,007,725	¥ 12,297				2,656,891,036		(1,874,037,965)		(54,412,083)		¥ 728,453,285		$ 106,007,725
Balance (in Shares) at Mar. 31, 2023		93,058,197	[1]	93,058,197	[1]									93,058,197		93,058,197								93,058,197		93,058,197
Balance (in Dollars)														¥ 7,978	[1]	$ 1,124	[1]	808,648,509	113,897,365	(1,673,775,766)	(235,749,706)	(85,565,973)	(12,051,884)	¥ (950,685,252)		$ (133,903,101)
Balance (in Shares)	[1]													61,684,134		61,684,134
Balance (in Dollars)		¥ 12,297	[1]	$ 1,790	[1]	¥ 2,656,891,036	$ 386,642,466	¥ (1,874,037,965)	$ (272,718,245)	¥ (54,412,083)	$ (7,918,286)	¥ 728,453,285	$ 106,007,725	¥ 12,297				2,656,891,036		(1,874,037,965)		(54,412,083)		¥ 728,453,285		$ 106,007,725
Balance (in Shares)		93,058,197	[1]	93,058,197	[1]									93,058,197		93,058,197								93,058,197		93,058,197
Accretion to redemption value of convertible redeemable preferred shares
Net loss																				(174,522,798)				(174,522,798)		$ (24,307,475)
Foreign currency translation adjustment | ¥																						3,165,843		¥ 3,165,843
Foreign currency translation adjustment (in Shares)	[2]																							93,058,197		93,058,197
Balance at Sep. 30, 2023														¥ 12,297		$ 1,713		2,656,891,036	370,050,842	(2,048,560,763)	(285,322,817)	(51,246,240)	(7,137,559)	¥ 557,096,330		$ 77,592,179
Balance (in Shares) at Sep. 30, 2023														93,058,197		93,058,197								93,058,197		93,058,197
Balance (in Dollars)														¥ 12,297		$ 1,713		¥ 2,656,891,036	$ 370,050,842	¥ (2,048,560,763)	$ (285,322,817)	¥ (51,246,240)	$ (7,137,559)	¥ 557,096,330		$ 77,592,179
Balance (in Shares)														93,058,197		93,058,197								93,058,197		93,058,197
[1]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.[2]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Cash Flows	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (174,522,798)	$ (24,307,475)	¥ (11,125,365)	¥ (145,479,105)	$ (21,170,758)	¥ (106,004,401)	¥ (191,826,242)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income taxes	(820,353)	(114,258)	565,625	1,133,504	164,952	4,937,120	17,454,245
Depreciation of property, plant and equipment	16,514,915	2,300,192	13,818,386	29,735,024	4,327,171	24,475,736	22,240,060
Amortization of intangible assets	3,418,436	476,119	3,409,643	6,952,783	1,011,800	6,678,233	5,665,735
Loss on disposal of property, plant and equipment			64,179			273,982	24,876
Share-based compensation			(85,316)	3,505,001	510,063	7,764,448	76,756,500
Bad debt provision of accounts receivable	5,341,696	743,990	6,447,109	10,750,948	1,564,525	5,084,925	6,414,634
Write-down of inventories to net realizable value	10,678,694	1,487,325		(723,583)	(105,299)	4,393,630	1,109,400
Non-cash lease expense	2,452,349	341,562	2,409,286	4,423,612	643,743	3,787,628	2,233,089
Fair value changes of warrant liability	(6,851,308)	(954,248)		(21,358)	(3,108)
Changes in operating assets and liabilities:
Inventories	(38,118,113)	(5,309,077)	4,838,379	(18,151,804)	(2,641,530)	(89,459,313)	(68,728,378)
Accounts receivable	28,341,162	3,947,347	(166,251,393)	(165,247,635)	(24,047,562)	(99,137,291)	(220,734,141)
Amounts due from related parties						30,088,833	(3,086,330)
Prepaid expenses and other current assets	(22,438,580)	(3,125,237)	4,102,924	8,992,574	1,308,639	59,229,801	146,767,686
Accounts payable	4,538,651	632,142	6,583,078	49,628,389	7,222,141	14,427,864	(4,424,337)
Amounts due to related parties							(245,808)
Accrued expenses and other liabilities	29,330,997	4,085,211	37,289,942	43,029,496	6,261,841	(35,633,487)	140,210
Deferred government grants	(1,147,850)	(159,872)	(8,026,551)	(6,447,010)	(938,197)	(656,673)	(44,290)
Income taxes payable							(34,105,055)
Operating lease liabilities	(2,549,633)	(355,112)	(1,435,079)	(4,550,232)	(662,170)	(3,796,392)	(2,222,291)
Net cash used in operating activities	(145,831,735)	(20,311,391)	(107,395,153)	(182,469,396)	(26,553,749)	(173,545,357)	(246,610,437)
Cash flows from investing activities:
Proceeds from disposal of property, plant and equipment	155,191	21,615		68,001	9,896	8,000	644,842
Purchases of property, plant and equipment	(23,576,885)	(3,283,780)	(15,017,753)	(52,758,124)	(7,677,594)	(295,314,351)	(104,883,783)
Purchases of intangible assets			(4,006,598)	(4,291,597)	(624,532)	(3,617,607)
Net cash used in investing activities	(23,421,694)	(3,262,165)	(19,024,351)	(56,981,720)	(8,292,230)	(298,923,958)	(104,238,941)
Cash flows from financing activities:
Proceeds from issuance of mezzanine equity							729,412,999
Shareholders’ contribution							1,589,236
Proceeds from business combination				252,457,329	36,738,701
Offering cost				(35,884,661)	(5,222,094)
Proceeds from bank loans and other borrowings	201,211,920	28,024,725	102,513,927	247,387,392	36,000,901	414,116,587	32,253,609
Repayment of bank loans and other borrowings	(156,356,071)	(21,777,218)	(50,606,602)	(146,510,134)	(21,320,799)	(49,558,442)	(160,407,571)
Proceeds from borrowings from related parties							299,757,219
Repayment of borrowings from related parties							(163,346,796)
Net cash provided by financing activities	44,855,849	6,247,507	51,907,325	317,449,926	46,196,709	364,558,145	739,258,696
Effect of foreign exchange rate on cash	13,933,287	1,940,621	30,471,942	21,303,512	3,100,180	(11,478,411)	(2,674)
Net decrease in cash	(110,464,293)	(15,385,428)	(44,040,237)	99,302,322	14,450,910	(119,389,581)	388,406,644
Cash at the beginning of the period	370,369,825	51,584,978	271,067,503	271,067,503	39,446,935	390,457,084	2,050,440
Cash at the end of the period	259,905,532	36,199,550	227,027,266	370,369,825	51,584,978	271,067,503	390,457,084
Reconciliation of cash and restricted cash
Cash	259,905,532		226,765,500	370,108,059		271,067,503
Restricted cash			261,766	261,766
Total cash and restricted cash shown in the statements of cash flows	259,905,532		227,027,266	370,369,825		271,067,503	390,457,084
Supplemental disclosures of cash flow information:
Income taxes paid							34,105,055
Interest paid	10,132,047	1,411,188	12,723,051	27,289,057	3,971,224	2,404,357	8,124,572
Non-cash transactions:
Accretion to redemption value of convertible redeemable preferred shares			72,083,238	137,991,697	20,081,159	130,662,326	16,610,297
Operating right-of-use assets recognized for related operating lease liabilities	811,094	112,969		331,218	48,200	1,516,478	15,048,446
Forgiveness of amounts due to related parties							446,092,527
Equity transaction from warrants				(8,870,007)	(1,290,802)
Equity transaction from preferred shares				1,636,897,084	238,208,461
Previously Reported
Cash flows from operating activities:
Net loss				(145,479,105)		(106,004,401)
Cash flows from financing activities:
Cash at the beginning of the period	¥ 370,369,825	$ 53,897,845	¥ 271,067,503	271,067,503		390,457,084
Cash at the end of the period				370,369,825	$ 53,897,845	271,067,503	390,457,084
Reconciliation of cash and restricted cash
Total cash and restricted cash shown in the statements of cash flows				¥ 370,369,825		¥ 271,067,503	¥ 390,457,084

Organization and Business Descr

Organization and Business Description	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Organization and Business Description [Abstract]
ORGANIZATION AND BUSINESS DESCRIPTION	NOTE 1 — ORGANIZATION AND BUSINESS DESCRIPTION YS Biopharma Co., Ltd (“YS Biopharma”), formerly known as Yisheng Bio Co., Ltd (with the name changed March 16, 2023), was incorporated under the laws of the Cayman Islands as an exempted company with limited liability in November 2020. It owns five companies and their subsidiaries that were incorporated in the Cayman Islands, United States of America (“US”), Singapore, Philippines, Hong Kong and the People’s Republic of China (“China” or the “PRC”) (collectively, the “Company” or “YS Group”). YS Group is principally engaged in the research, development, manufacturing and sale of vaccines and therapeutic biologics. It developed a PIKA immunomodulating technology platform and a series of product candidates targeting rabies, hepatitis B, influenza and other indications. It is also conducting the production and sale of YSJA™ ( 依生君安 -free Business Combination On August 15, 2022, Oceanview Bioscience Acquisition Co., Ltd. (“Oceanview Bioscience”) and Hudson Biomedical Group Co., Ltd. (“Hudson Biomedical”) were incorporated under the laws of Cayman Islands as exempted companies with limited liability. The companies were incorporated effect to a merger with Summit Healthcare Acquisition Corp, a Special Purpose Acquisition Company (“SPAC”). YS Group’s legal entity structure was as follows: On September 29, 2022, YS Biopharma entered into the Business Combination Agreement with Summit Healthcare Acquisition Corp (“Summit”), Oceanview Bioscience Acquisition Co., Ltd., (“Merger Sub I”) and Hudson Biomedical Group Co., Ltd., (“Merger Sub II”). The Business Combination Agreement provides for (1) the merger of Merger Sub I with and into Summit (the “First Merger”), with Summit surviving the First Merger as the surviving entity (the -owned -owned In accordance with the Business Combination Agreement, on the date of closing of the Mergers (“First Merger and Second Merger”), (1) each YS Biopharma’s preferred share was converted into one pre -consolidation (2) every four of the pre -consolidation -consolidation On March 16, 2023 (the “Closing Date”), YS Biopharma announced the completion of its business combination with Summit pursuant to the above Business Combination Agreement. On May 9, 2023, YS Biopharma (Philippines) Inc. (“Philippines Yisheng”) was incorporated under the laws of Philippines as an entity owned by YS Group. Philippines Yisheng was incorporated for the purpose of research, development, producing, wholesaling and commercializing pharmaceutical products, including vaccines and other biological products. YS Group’s current legal entity structure is as follows: As of September 30, 2023, YS Group consists of the following legal entities: Legal Entity Nature of Operations Date of Place of YS Biopharma Co., Ltd. Holding Company November 16, Cayman Islands YishengBio (Hong Kong) Holdings Limited Holding Company December 28, Hong Kong Yisheng Biopharma (Singapore) Pte. Ltd. Research and development of vaccines and therapeutic biologics November 28, Singapore Yisheng US Biopharma Inc. Research of vaccines and therapeutic biologics September 29, US Liaoning Yisheng Biopharma Co., Ltd. Research and development, manufacturing and commercialization of vaccines and therapeutic biologics May 26, PRC Beijing Yisheng Biotechnology Co., Ltd. Research and development of vaccines and therapeutic biologics February 4, PRC Hudson Biomedical Group Co., Ltd. Purpose of effecting a merger August 15, Cayman Islands YS Biopharma (Philippines) Inc. Researching, developing, producing, wholesaling and commercializing pharmaceutical products May 9, Philippines ____________ * ** ***	NOTE 1 — ORGANIZATION AND BUSINESS DESCRIPTION YS Biopharma Co., Ltd (“YS Biopharma”), formerly known as Yisheng Bio Co., Ltd (with the name changed March 16, 2023), was incorporated under the laws of the Cayman Islands as an exempted company with limited liability in November 2020. It owns four companies and their subsidiaries that were incorporated in the Cayman Islands, United States of America (“US”), Singapore, Hong Kong and the People’s Republic of China (“China” or the “PRC”) (collectively, the “Company” or “YS Group”). YS Group is principally engaged in the research, development, manufacturing and sale of vaccines and therapeutic biologics. It developed a PIKA immunomodulating technology platform and a series of product candidates targeting rabies, hepatitis B, influenza and other indications. It is also conducting the production and sale of YSJA™ ( 依生君安 -free Business Reorganization Prior to the business reorganization completed in February 2021, YS Group conducted its business under Yisheng Biopharma Co., Ltd (“Yisheng Biopharma”), a Cayman Islands company established in April 2010, as an offshore holding company used by its shareholders to hold and control its business operation. Before or after the reorganization, both YS Biopharma and Yisheng Biopharma are controlled by the same major shareholder, Yi Zhang, founder of YS Group and Yisheng Biopharma. In February 2021, YS Group’s business and technology segments were separated and spun -off -owned -owned After the reorganization completed in February 2021, YS Group’s legal entity structure was as follows: Business Combination On August 15, 2022, Oceanview Bioscience Acquisition Co., Ltd. (“Oceanview Bioscience”) and Hudson Biomedical Group Co., Ltd. (“Hudson Biomedical”) were incorporated under the laws of Cayman Islands as exempted companies with limited liability. The companies were incorporated for the purpose of effecting a merger with Summit Healthcare Acquisition Corp, a Special Purpose Acquisition Company (“SPAC”). YS Group’s legal entity structure was as follows: On September 29, 2022, YS Biopharma entered into the Business Combination Agreement with Summit Healthcare Acquisition Corp (“Summit”), Oceanview Bioscience Acquisition Co., Ltd., (“Merger Sub I”) and Hudson Biomedical Group Co., Ltd., (“Merger Sub II”). The Business Combination Agreement provides for (1) the merger of Merger Sub I with and into Summit (the “First Merger”), with Summit surviving the First Merger as the surviving entity (the “Surviving Entity”) and becoming a wholly -owned -owned In accordance with the Business Combination Agreement, on the date of closing of the Mergers (“First Merger and Second Merger”), (1) each YS Biopharma’s preferred share was converted into one pre -consolidation -consolidation -consolidation On March 16, 2023 (the “Closing Date”), YS Biopharma announced the completion of its business combination with Summit pursuant to the above Business Combination Agreement. YS Group’s current legal entity structure is as follows: As of March 31, 2023, YS Group consists of the following legal entities: Legal Entity Nature of Operations Date of Place of YS Biopharma Co., Ltd. Holding Company November 16, Cayman Islands YishengBio (Hong Kong) Holdings Limited (“HK Yisheng”) Holding Company December 28, Hong Kong Yisheng Biopharma (Singapore) Pte. Ltd. (“Singapore Yisheng”)** Research and development of vaccines and therapeutic biologics November 28, Singapore Yisheng US Biopharma Inc. Research of vaccines and therapeutic biologics September 29, 2009 US Liaoning Yisheng Biopharma Co., Ltd. Research and development, manufacturing and commercialization of vaccines and therapeutic biologics May 26, PRC Beijing Yisheng Biotechnology Co., Ltd. Research and development of vaccines and therapeutic biologics February 4, PRC Hudson Biomedical Group Co., Ltd. Purpose of effecting a merger August 15, Cayman Islands * ** ***

Liquidity

Liquidity	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Liquidity [Abstract]
LIQUIDITY	NOTE 2 — LIQUIDITY As reflected in the unaudited condensed accompanying consolidated financial statements (“CFS”), the Company reported net loss of RMB174,522,798 and RMB11,125,365 for the six months ended September 30, 2023 and 2022, respectively. And the Company reported accumulated deficit of RMB2,048,560,763 and RMB1,874,037,965 (audited) as of September 30, 2023 and March 31, 2023. In assessing its liquidity, management monitors and analyzes the Company’s cash flow requirements, its ability to generate revenue in the future, and its operating and capital expenditure commitments. As of September 30, 2023, the Company had cash of approximately RMB259.9 million (US$36.2 million). As of September 30, 2023, the Company had outstanding bank loans and other borrowings of approximately RMB544.7 million (US$75.9 million) from various financial institutions. On December -Bridge -Bridge -Bridge -Bridge	NOTE 2 — LIQUIDITY As reflected in the accompanying consolidated financial statements (“CFS”), the Company reported net loss of RMB191,826,242, RMB106,004,401 and RMB145,479,105 for the years ended March 31, 2021, 2022 and 2023, respectively. And the Company reported accumulated deficit of RMB1,590,567,163 and RMB1,874,037,965 as of March 31, 2022 and 2023. In assessing its liquidity, management monitors and analyzes the Company’s cash flow requirements, its ability to generate sufficient revenue sources in the future, and its operating and capital expenditure commitments. As of March 31, 2023, the Company had cash of approximately RMB370.4 million (US$53.9 million). As of March 31, 2023, the Company had outstanding bank loans and other borrowings of approximately RMB487.5 million (US$70.9 million) from various financial institutions. Currently, the Company is working to improve its liquidity and capital sources primarily through debt and equity financing. Based on the Company’s current operating plan, management believes the above -mentioned

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim condensed CFS of YS Group were prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited interim condensed CFS do not include all the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of YS Group’s management, the accompanying unaudited interim condensed CFS contain all normal recurring adjustments necessary to present fairly the financial position, operating results and cash flows of YS Group for each of the periods presented. The results of operations for the six months ended September 30, 2023 are not necessarily indicative of results to be expected for any other interim periods or for the year ending March 31, 2024. These unaudited interim condensed CFS should be read in conjunction with YS Group’s audited CFS for the years ended March 31, 2023 and 2022. Basis of Consolidation The CFS include the financial statements of YS Group and its wholly -owned Use of Estimates The preparation of the CFS in conformity with U.S. 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 CFS and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in these CFS include, but are not limited to, the valuation of YS Group’s convertible redeemable preferred shares and ordinary shares, accrual of stock -based Foreign Currency Translation YS Group’s CFS are reported using the RMB. The results of operations and the consolidated statements of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital transaction. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Foreign currency translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income included in YS Group’s consolidated statements of changes in shareholders’ equity. Gains and losses from foreign currency transactions are included in YS Group’s consolidated statements of operations and comprehensive loss. The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. The following table outlines the currency exchange rates used in preparing YS Group’s CFS: Foreign currency March 31, September 30, Six Months Ended 2022 2023 Balance Sheet Balance Sheet Profit/Loss Profit/Loss RMB:1US$ 6.8717 7.1798 6.7240 7.0258 RMB:1S$ 5.1760 5.2599 4.8325 5.2180 RMB:1Peso 0.1264 0.1286 0.1217 0.1275 Convenience translation Amounts in US$ are presented for the convenience of the reader and translated at US$1.00 to RMB7.1798, the central parity rate release of the People’s Bank of China on September 30, 2023. No representation is made that the RMB amounts could have been, or converted, realized or settled into US$ at such rate. Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks. YS Group maintains bank accounts in China. Cash balances in bank accounts in China are not insured by the Federal Deposit Insurance Corporation or other programs. Restricted Cash Restricted cash balances mainly relate to restrictions imposed on banks as cash deposits for the issuance of letters of credit. And it is included in the total cash, cash equivalents, and restricted cash in the consolidated statements of cash flows. Accounts Receivable, net Accounts receivable is presented net of allowance for doubtful accounts. YS Group reduces its accounts receivable by recording a bad debt allowance to account for the estimated impact of collection issues resulting from a customer’s inability or unwillingness to pay valid obligations to YS Group. YS Group determines the adequacy of allowance for doubtful accounts based on individual account analysis, historical collection trend, and best estimate of specific losses on individual exposures. YS Group establishes an allowance for doubtful accounts when there is objective evidence that YS Group may not be able to collect amounts due. Accounts receivable balances are written off after all collection efforts have been exhausted. Advance to Suppliers, net Advance to suppliers are amounts advanced to vendors or suppliers for providing raw materials to YS Group. The suppliers usually require advance payments when YS Group orders materials and the advance will be utilized to offset YS Group’s actual payment obligations. These amounts advanced are unsecured, non -interest Inventories, net Inventories are stated at the lower of cost or net realizable value. Cost is determined on the weighted average basis and comprises all cost of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is based on estimated selling prices less any estimated costs to be incurred to completion and disposal. YS Group reviews the carrying amounts of inventories quarterly to determine if the inventories are carried at lower of cost or net realizable value. The net realizable value is estimated based on current market conditions and historical experience. Adjustments are recorded to write down the cost of inventory based on the expiration date of raw materials and the estimate of future usage. Write -downs Property, Plant and Equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. The cost of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, are expensed when incurred. In situations where the recognition criteria are satisfied, the expenditure for a major reconstruction is capitalized as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, YS Group recognizes such parts as individual assets with specific useful lives and depreciates them accordingly. Depreciation is calculated on the straight -line Category Estimated useful life Plant and building 6 – 20 years Machinery and equipment 5 – 10 years Furniture and fixtures 3 – 7 years Motor vehicle 4 – 5 years Leasehold improvement Lesser of the lease term or life of assets Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each quarter end. An item of property, plant and equipment including any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognized in the statement of operations in the period the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset. Intangible assets, net Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the FV at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and method for an intangible asset with a finite useful life is reviewed for appropriateness at each financial year end. Intangible assets with indefinite useful lives or not yet available for use are tested for impairment annually either individually or at the cash -generating Patents with definite useful lives are stated at cost less any impairment losses and are amortized on the straight -line -line An intangible asset determined to have an indefinite useful life is not amortized until its useful life is determined to be no longer indefinite. Management evaluates the remaining useful life of an intangible asset that is not amortized in each reporting period to determine whether events and circumstances continue to support an indefinite useful life. Indefinite -lived Management believes YS Group’s Drug Manufacturing License granted by the Liaoning Food and Drug Administration (“FDA”) is an intangible asset with an indefinite useful life because the certificate may be renewed indefinitely at little cost and has historically been renewed by Liaoning Yisheng. Liaoning Yisheng intends to renew the certificate indefinitely, and has the ability to do so. Cash flows from the certificate are expected to continue indefinitely. Therefore, the Drug Manufacturing License is not amortized until its estimated useful life is believed to be no longer indefinite. All research and development costs are expensed as incurred. Expenditure incurred on projects to develop new products is capitalized and deferred only when YS Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure reliably the expenditure during the development. Product development expenditures which do not meet these criteria are expensed when incurred. Land use rights: Land lease payments are amounts paid for the rights to use land in the PRC and are recorded net of accumulated amortization. Amortization is provided on a straight -line Impairment of Long-lived Assets YS Group reviews long -lived -lived Concentrations of Credit Risk and Significant Suppliers Financial instruments that potentially subject YS Group to concentration of credit risk consist of cash. YS Group mitigates this risk by maintaining its cash with high quality, accredited financial institutions. As of September 30, 2023, YS Group’s cash was deposited at more than two financial institutions and it did not have any foreign currency exchange contracts, option contracts or other hedging arrangements. YS Group has not experienced any losses on its deposits of cash and does not believe that it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. YS Group’s sales are made primarily to Centers for Disease Control and Prevention (“CDCs”) located in China. YS Group does not have a concentration of its revenue and accounts receivable with specific customers. As of September 30, 2023 and March 31, 2023, there was no customer which accounted for more than 10% of YS Group’s accounts receivable balance. During the six months ended September 30, 2023 and 2022, there were no customers that accounted for more than 10% of YS Group’s net revenues. Details of percentage of YS Group’s top five vendors accounting for total purchases are as follows: Six Months Ended September 30, 2023 (RMB) (US$) Vendor F 26,744,400 $ 3,724,951 28.8 % Vendor B 9,544,080 1,329,296 10.3 % Vendor G 5,844,185 813,976 6.3 % Vendor D 5,074,866 706,826 5.5 % Vendor H 4,799,409 668,460 5.2 % Total 52,006,940 $ 7,243,509 56.1 % Six Months Ended September 30, 2022 (RMB) (US$) Vendor A 21,661,500 $ 3,051,001 38.8 % Vendor B 10,053,600 1,416,040 18.0 % Vendor C 3,005,828 423,368 5.4 % Vendor D 2,009,315 283,010 3.6 % Vendor E 1,859,500 261,909 3.3 % Total 38,589,743 $ 5,435,328 69.1 % YS Group’s business operation has been, and may continue to be, negatively affected by the outbreak of COVID -19 -19 Fair Value Measurements ASC 825 -10 -level • • • Unless otherwise disclosed, the FV of YS Group’s financial instruments including cash, accounts receivable, advances to suppliers, amounts due from related parties, prepaid expenses and other current assets, short -term -term -term YS Group’s non -financial Social Security Insurance Employees of YS Group’s subsidiaries that operate in the PRC are required to participate in a pension scheme operated by the local municipal government. According to the Social Insurance Law of the PRC (the “Social Security Insurance Law”) promulgated by the Standing Committee of the National People’s Congress (the “Standing Committee”) that became effective on December 29, 2018, there are five basic types of social security insurance, which include: basic pension, basic medical, unemployment, work -related Leases Under ASC Topic 842, Leases (“ASC 842”), YS Group determines if an arrangement is or contains a lease at inception. For leases with a term of 12 months or less, YS Group does not recognize a right -of-use ROU assets represent YS Group’s right to use an underlying asset for the lease term and lease liabilities represent YS Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As YS Group’s leases typically do not provide an implicit rate, YS Group uses an estimate of its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The lease terms may include options to extend or terminate the lease when it is reasonably certain that YS Group will exercise that option. Lease expense is recognized on a straight -line Government Grants Government grants are primarily subsidies received from PRC governments for operating a business in their jurisdictions and in compliance with specific policies promoted by the government authorities. YS Group’s PRC -based Government grants for research and development (“R&D”) are recognized as a reduction to R&D expenses when the conditions attached to the grants are met or recognized as government grants recognized in income in the period when the conditions are met after the expenses are incurred. Government grants for property, plant and equipment are deferred and recognized as a reduction to the related depreciation and amortization expenses in the same manner as the property, plant and equipment are depreciated. Warrants YS Group accounts for warrants as either equity -method -method Upon consummation of the Business Combination, each Summit Warrant outstanding ceased to be a warrant with respect to Summit Public Shares and was assumed by YS Biopharma and converted into a YS Biopharma Warrant entitling the holder thereof to purchase such number of Ordinary Share on a one -on-one Revenue from Contracts with Customers YS Group follows ASC 606 — “Revenue from Contracts with Customers” for all periods presented. ASC 606 established principles for reporting information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from our contracts to provide services to customers. Based on the following five steps analysis, revenues from contracts with customers are recognized when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration YS Group expects to be entitled in exchange for those goods or services. Step 1: Identify the contract with the customer; Step 2: Identify the performance obligations in the contract; Step 3: Determine the transaction price; Step 4: Allocate the transaction price to the performance obligations in the contract; and Step 5: Recognize revenue when YS Group satisfies a performance obligation YS Group is principally engaged in the research, development, manufacturing and sale of vaccines and therapeutic biologics. YS Group’s revenues primarily streams from the sales of vaccines. The core principle underlying revenue recognition in ASC 606 is that YS Group recognizes revenue for the transfer of vaccines to customers in an amount that reflects the consideration to which YS Group expects to be entitled. This requires YS Group to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time. YS Group’s sales contracts of vaccines have one performance obligation that is to sell vaccines to the customers. The sales contracts with customers do not involve variable considerations, such as discounts and rebates. And according to the historical operation, circumstance of discounts and rebates have never occurred. The customer pays after acceptance of the vaccines. According to ASC 606, the relevant revenue recognition is based on customer acceptance confirmation. In accordance with ASC606 -10-55-36 -40 -added Cost of Revenues Cost of revenues consists primarily of the cost of merchandise sold and write -down -moving General and Administrative Expenses General and administrative expenses consist mainly of payroll and related costs for employees involved in general corporate functions, including accounting, finance, tax, legal and human resources, professional fees, and provision for bad debts, value -added Selling and Marketing Expenses Selling and marketing expenses consist mainly of payroll and benefits for employees involved in the sales and distribution functions, meeting/event fees, promotion fees, marketing and selling expenses that are related to events and activities at YS Group’s service centers designed to promote product sales as well as operating expenses related to the service centers. Research and Development Expenses R&D expenses include costs directly attributable to the conduct of R&D projects, primarily consist of salaries and other employee benefits, testing and clinical trial expenses, consulting service fees, depreciation and amortization, and office and leasing expenses. All costs associated with R&D are expensed as incurred. Other Income (Expenses), net Other income (expenses) consists of miscellaneous income and expenses not directly related to YS Group’s core business operations. Other income primarily consists of recovery of previously written -off -off From December 2013 to June 2019, because YS Group was undergoing the construction and certification process of new manufacturing plant, YS Group didn’t produce and market its rabies vaccine and did not pay any income taxes nor social security insurance for its employees. It accounts for late fees as disclosed in the statements of operations. Income Taxes Cayman Islands. Hong Kong. -sourced Singapore. China. United States. Philippines. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods, taking into consideration interpretations and practices prevailing in the countries in which YS Group operates. Deferred tax is provided, using the liability method in accordance with ASC740, Income Taxes Deferred tax liabilities are recognized for all taxable temporary differences, except: • • Deferred tax assets (“DTA”) are recognized for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. DTA are recognized to the extent it is probable that taxable profit will be available against which the deductible temporary differences, and the carryforward of unused tax credits and unused tax losses can be utilized, except: • • The carrying amount of DTA is reviewed at the end of each reporting period and reduced to the extent it is no longer probable that sufficient taxable profit will be available to allow all or part of the DTA to be utilized. DTA and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods. DTA and liabilities are offset if and only if YS Group has a legally enforceable right to set off current tax assets and current tax liabilities and the DTA and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. YS Group records a valuation allowance to offset DTA if based on the weight of available evidence, it is more -likely-than-not YS Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as non -operating Value Added Tax (“VAT”) Value -added Taxes other than Income Tax Under the PRC Tax Law, taxes other than income tax primarily include additional tax calculated based on value -added Share-based Compensation YS Group has a share option scheme to provide incentives and rewards to eligible participants. Employees (including directors) of Company receive granted shares and share options in the form of share -based -settled The cost of equity -settled -settled The cumulative expense recognized for equity -settled -market -vesting -vesting For awards that do not ultimately vest because non -market -vesting -vesting Where the terms of an equity -settled -based Where an equity -settled -vesting -settled Comprehensive Loss Comprehensive loss consists of two components, net loss and other comprehensive income (loss). Other comprehensive income (loss) consists of foreign currency translation adjustment from YS Group not using RMB as its functional currency. Loss Per Share In accordance with ASC 260, Earnings Per Share, basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. 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 shares plus dilutive equivalent shares outstanding during the period. Dilutive equivalent shares are excluded from the computation of diluted loss per share if their effects would be anti -dilutive Segment Reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with YS Group’s internal organizational structure as well as information about geographical areas, business segments and major customers in the CFS for details on YS Group’s business segments. YS Group uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by YS Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. YS Group’s CODM has been identified as the CEO, who reviews consolidated results when making decisions about allocating resources and assessing performance of YS Group. Based on management’s assessment, YS Group has one operating segment, which is the development, production, marketing and sale of biopharmaceutical products. No operating segments were aggregated to form the reportable operating segment. Significant Risks Currency risk A majority of YS Group’s expenses are denominated in RMB and a significant portion of YS Group and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by YS Group in China must be processed through the PBOC or other Company foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance. YS Group maintains bank accounts in the PRC. On May 1, 2015, China’s new Deposit Insurance Regulation came into effect, pursuant to which banking financial institutions, such as commercial banks, established in the PRC are required to purchase deposit insurance for deposits in RMB and in foreign currency placed with them. Such Deposit Insurance Regulation would not be effective in providing complete protection for YS Group’s accounts, as its aggregate deposits are higher than the compensation limit, which is RMB500,000(approximately $70,000) for one bank. However, YS Group believes the risk of failure of any of these Chinese banks is remote. Bank failure is uncommon in the PRC and YS Group believes that those Chinese banks that hold YS Group’s cash are financially sound based on public available information. Concentration and political risk Currently, YS Group involves significant operations in the PRC. Accordingly, YS Group’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. YS Group’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. YS Group’s results may be adversely affected by changes in governmental policies in laws and regulations, anti -inflationary Interest rate risk Fluctuations in interest rates may negatively affect YS Group’s financial condition and results of operations. YS Group is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. YS Group has not used any derivative financial instruments to manage YS Group’s interest risk exposure. Related Parties A party is considered related to YS Group if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with YS Group. Related parties also include principal owners of YS Group, its management, members of the immediate families of principal owners of YS Group and its management and other parties with which YS Group may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party. Recently Issued Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016- -issuers -05 -effect In December 2019, the FASB issued ASU 2019- YS Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on YS Group’s CFS.	NOTE 3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These CFS and related notes of YS Group were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary to present fairly in all material respects the financial position, results of operations and cash flows for all periods presented were made. Basis of Consolidation The CFS include the financial statements of YS Group and its wholly -owned The business reorganization as described in Note 1 was treated as a recapitalization of entities under common control and the accompanying CFS of YS Group give retroactive effect to this transaction. Use of Estimates The preparation of the CFS in conformity with 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 CFS and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in these CFFS include, but are not limited to, the valuation of YS Group’s convertible redeemable preferred shares and ordinary shares, accrual of stock -based Foreign Currency Translation YS Group’s CFS are reported using the RMB. The results of operations and the consolidated statements of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital transaction. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Foreign currency translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income included in YS Group’s consolidated statements of changes in shareholders’ deficit. Gains and losses from foreign currency transactions are included in YS Group’s consolidated statements of operations and comprehensive loss. The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. The following table outlines the currency exchange rates used in preparing YS Group’s CFS: Foreign currency As of March 31, Years Ended March 31, 2022 2023 2021 2022 2023 Balance Sheet Balance Sheet Profit/Loss Profit/Loss Profit/Loss RMB:1US$ 6.3482 6.8717 6.8282 6.4598 6.6100 RMB:1S$ 4.6932 5.1760 4.9246 4.7850 4.9346 Convenience translation Amounts in US$ are presented for the convenience of the reader and translated at US$1.00 to RMB6.8717, representing the central parity rate release of the People’s Bank of China on March 31, 2023. No representation is made that the RMB amounts could have been, or converted, realized or settled into US$ at such rate. Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks. YS Group maintains bank accounts in China. Cash balances in bank accounts in China are not insured by the Federal Deposit Insurance Corporation or other programs. Restricted Cash Restricted cash balances mainly relate to restrictions imposed on banks as cash deposits for the issuance of letters of credit. And it is included in the total cash, cash equivalents, and restricted cash in the consolidated statements of cash flows. Accounts Receivable, net Accounts receivable is presented net of allowance for doubtful accounts. YS Group reduces its accounts receivable by recording a bad debt allowance to account for the estimated impact of collection issues resulting from a client’s inability or unwillingness to pay valid obligations to YS Group. YS Group determines the adequacy of allowance for doubtful accounts based on individual account analysis, historical collection trend, and best estimate of specific losses on individual exposures. YS Group establishes an allowance for doubtful accounts when there is objective evidence that YS Group may not be able to collect amounts due. Accounts receivable balances are written off after all collection efforts have been exhausted. Advance to Suppliers, net Advance to suppliers represent amounts advanced to vendors or suppliers for providing raw materials to YS Group. The suppliers usually require advance payments when YS Group orders materials and the advance will be utilized to offset YS Group’s actual payment obligations. These amounts advanced are unsecured, non -interest nil nil Inventories, net Inventories are stated at the lower of cost or net realizable value. Cost is determined on the weighted average basis and comprises all cost of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is based on estimated selling prices less any estimated costs to be incurred to completion and disposal. YS Group reviews the carrying amounts of the inventories on a quarterly basis to determine if the inventories are carried at lower of cost or net realizable value. The net realizable value is estimated based on current market conditions and historical experience. Adjustments are recorded to write down the cost of inventory based on the expiration date of raw materials and the estimate of future usage. Write -downs Property, Plant and Equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. The cost of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, are expensed when incurred. In situations where the recognition criteria are satisfied, the expenditure for a major reconstruction is capitalized as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, YS Group recognizes such parts as individual assets with specific useful lives and depreciates them accordingly. Depreciation is calculated on the straight -line Category Estimated useful life Plant and building 6 – 20 years Machinery and equipment 5 – 10 years Furniture and fixtures 3 – 7 years Motor vehicle 4 – 5 years Leasehold improvement Lesser of the lease term or life of assets Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each quarter end. An item of property, plant and equipment including any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognized in the statement of operations in the period the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset. Intangible assets, net Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the FV at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life is reviewed for appropriateness at each financial year end. Intangible assets with indefinite useful lives or not yet available for use are tested for impairment annually either individually or at the cash -generating Patents with definite useful lives are stated at cost less any impairment losses and are amortized on the straight -line -line An intangible asset that is determined to have an indefinite useful life is not amortized until its useful life is determined to be no longer indefinite. Management evaluates the remaining useful life of an intangible asset that is not being amortized in each reporting period to determine whether events and circumstances continue to support an indefinite useful life. Indefinite -lived Management believes that YS Group’s Drug Manufacturing License that was granted by the Liaoning Food and Drug Administration (“FDA”) is an intangible asset with an indefinite useful life because the certificate may be renewed indefinitely at little cost and has historically been renewed by Liaoning Yisheng. Liaoning Yisheng intends to renew the certificate indefinitely, and has the ability to do so. Cash flows from the certificate are expected to continue indefinitely. Therefore, the Drug Manufacturing License is not amortized until its estimated useful life is believed to be no longer indefinite. All R&D costs are expensed as incurred. Expenditure incurred on projects to develop new products is capitalized and deferred only when YS Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure reliably the expenditure during the development. Product development expenditures which do not meet these criteria are expensed when incurred. Land use rights: -line Impairment of Long-lived Assets YS Group reviews long -lived -lived Concentrations of Credit Risk and Significant Suppliers Financial instruments that potentially subject YS Group to concentration of credit risk consist of cash. YS Group mitigates this risk by maintaining its cash with high quality, accredited financial institutions. As of March 31, 2023, YS Group’s cash was deposited at more than two financial institutions and it did not have any foreign currency exchange contracts, option contracts or other hedging arrangements. YS Group has not experienced any losses on its deposits of cash and does not believe that it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. YS Group’s sales are made primarily to Centers for Disease Control and Prevention (“CDCs”) located in China. YS Group does not have a concentration of its revenue and accounts receivable with specific customers. As of March 31, 2022 and 2023, there was no customers which accounted for more than 10% of YS Group’s accounts receivable balance. During the years ended March 31, 2021, 2022 and 2023, there were no customers that accounted for more than 10% of YS Group’s net revenues. Details of percentage of YS Group’s top 5 vendors accounting for total purchases are as follows: Year Ended March 31, 2023 (RMB) (US$) Vendor A 48,006,500 $ 6,986,117 37.9 % Vendor F 15,178,020 2,208,772 12.0 % Vendor G 10,053,600 1,463,044 7.9 % Vendor H 6,846,214 996,291 5.4 % Vendor C 4,746,530 690,736 3.7 % Total 84,830,864 $ 12,344,960 66.9 % Year Ended March 31, 2022 (RMB) (US$) Vendor A 35,172,250 $ 5,540,508 20.9 % Vendor B 16,227,146 2,556,181 9.6 % Vendor C 9,995,189 1,574,492 5.9 % Vendor D 7,426,500 1,169,859 4.4 % Vendor E 6,621,300 1,043,020 3.9 % Total 75,442,385 $ 11,884,060 44.7 % Year Ended March 31, 2021 (RMB) (US$) Vendor A 32,063,500 $ 4,879,324 37.9 % Vendor F 5,781,888 879,870 6.8 % Vendor G 4,862,320 739,933 5.7 % Vendor C 4,568,088 695,157 5.4 % Vendor H 3,199,200 486,844 3.8 % Total 50,474,996 $ 7,681,128 59.6 % Details of percentage of YS Group’s top 5 vendors accounting for accounts payable are as follows: As of March 31, 2023 (RMB) (US$) Vendor A 3,220,000 $ 468,589 4.0 % Vendor F 420 61 0.0 % Vendor H 16,118 2,346 0.0 % Total 3,236,538 $ 470,996 4.0 % As of March 31, 2022 (RMB) (US$) Vendor E 1,420,549 $ 223,772 4.6 % Total 1,420,549 $ 223,772 4.6 % YS Group’s business operation has been, and may continue to be, negatively affected by the outbreak of COVID -19 -19 Fair Value Measurements ASC 825 -10 -level • • • Unless otherwise disclosed, the FV of YS Group’s financial instruments including cash, accounts receivable, advances to suppliers, amounts due from related parties, prepaid expenses and other current assets, short -term -term -term YS Group’s non -financial Social Security Insurance Employees of YS Group’s subsidiaries that operate in the PRC are required to participate in a pension scheme operated by the local municipal government. According to the Social Insurance Law of the PRC (the “Social Security Insurance Law”) promulgated by the Standing Committee of the National People’s Congress (the “Standing Committee”) that became effective on December 29, 2018, there are five basic types of social security insurance, which include: basic pension, basic medical, unemployment, work -related Leases Under ASC Topic 842, Leases (“ASC 842”), YS Group determines if an arrangement is or contains a lease at inception. For leases with a term of 12 months or less, YS Group does not recognize a right -of-use ROU assets represent YS Group’s right to use an underlying asset for the lease term and lease liabilities represent YS Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As YS Group’s leases typically do not provide an implicit rate, YS Group uses an estimate of its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The lease terms may include options to extend or terminate the lease when it is reasonably certain that YS Group will exercise that option. Lease expense is recognized on a straight -line Government Grants Government grants represent primarily subsidies received from PRC governments for operating a business in their jurisdictions and in compliance with specific policies promoted by the government authorities. YS Group’s PRC -based Government grants for R&D are recognized as a reduction to R&D expenses when the conditions attached to the grants are met or recognized as government grants recognized in income in the period when the conditions are met after the expenses are incurred. Government grants for property, plant and equipment are deferred and recognized as a reduction to the related depreciation and amortization expenses in the same manner as the property, plant and equipment are depreciated. Convertible Redeemable Preferred Shares YS Group has two classes of preferred shares: Series A and Series B and Series A consists of Series A and Series A -1 Since the Series A, Series A -1 The mezzanine equity is carried at the higher of (1) the carrying amount after the attribution of net income of YS Group or (2) the expected redemption value. YS Group accretes the difference between the initial carrying value and the ultimate redemption price using the effective interest rate method from the issuance dates to the earliest possible redemption date. Upon the completion of YS Group’s business combination on March 16, 2023, all the outstanding Convertible Redeemable Preferred Shares were converted into Ordinary Shares. No mezzanine equity was recognized as of March 31, 2023. Warrants YS Group accounts for warrants as either equity -method -method Upon the consummation of the Business Combination, each Summit Warrant outstanding immediately prior had ceased to be a warrant with respect to Summit Public Shares and was assumed by YS Biopharma and converted into a YS Biopharma Warrant entitling the holder thereof to purchase such number of Ordinary Share on a one -on-one Revenue from Contracts with Customers YS Group follows ASC 606 — “Revenue from Contracts with Customers” for all periods presented. ASC 606 established principles for reporting information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from YS Group’s contracts to provide services to customers. Based on the following five steps analysis, revenues from contracts with customers are recognized when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration YS Group expects to be entitled in exchange for those goods or services. Step 1: Step 2: Step 3: Step 4: Step 5: YS Group is principally engaged in the research, development, manufacturing and sale of vaccines and therapeutic biologics. YS Group’s revenues primarily streams from the sales of vaccines. The core principle underlying the revenue recognition ASC 606 is that YS Group recognizes revenue to represent the transfer of vaccines to customers in an amount that reflects the consideration to which YS Group expects to be entitled in such exchange. This requires YS Group to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time. YS Group’s sales contracts of vaccines have one single performance obligation that is to sell vaccines to the customers. The sales contracts with customers do not involve variable considerations, such as discounts and rebates. And according to the historical operation, circumstance of discounts and rebates have never occurred. The customer pays after acceptance of the vaccines. According to ASC 606, the relevant revenue recognition is based on a point in time of customer acceptance confirmation. In accordance with ASC606 -10-55-36 -40 -added Cost of Revenues Cost of revenues consists primarily of the cost of merchandise sold and write -down -moving General and Administrative Expenses General and administrative expenses consist mainly of payroll and related costs for employees involved in general corporate functions, including accounting, finance, tax, legal and human resources, professional fees, and provision for bad debts, value -added Selling and Marketing Expenses Selling and marketing expenses consist mainly of payroll and benefits for employees involved in the sales and distribution functions, meeting/event fees, promotion fees, marketing and selling expenses that are related to events and activities at YS Group’s service centers designed to promote product sales as well as operating expenses related to the service centers. Research and Development Expenses R&D expenses include costs directly attributable to the conduct of R&D projects, primarily consist of salaries and other employee benefits, testing and clinical trial expenses, consulting service fees, depreciation and amortization, and office and leasing expenses. All costs associated with R&D are expensed as incurred. Other Income (Expenses), net Other income (expenses) consists of miscellaneous income and expenses not directly related to YS Group’s core business operations. Other income primarily consists of recovery of previously written -off write -off From December 2013 to June 2019, because YS Group was undergoing the construction and certification process of new manufacturing plant, YS Group didn’t produce and market its rabies vaccine and did not pay any income taxes nor social security insurance for its employees. It accounts for late fees as disclosed in the statements of operations. Income Taxes Cayman Islands. Hong Kong. -sourced Singapore. China. United States. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods, taking into consideration interpretations and practices prevailing in the countries in which YS Group operates. Deferred tax is provided, using the liability method in accordance with ASC740, Income Taxes Deferred tax liabilities are recognized for all taxable temporary differences, except: • • Deferred tax assets are recognized for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carryforward of unused tax credits and unused tax losses can be utilized, except: • • The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods. Deferred tax assets and liabilities are offset if and only if YS Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. YS Group records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more -likely-than-not YS Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as non -operating Value Added Tax (“VAT”) Value -added Taxes other than Income Tax Under the PRC Tax Law, taxes other than income tax primarily include additional tax calculated based on value -added Share-based Compensation YS Group operates a share option scheme to provide incentives and rewards to eligible participants who contribute to the success of YS Group’s operations. Employees (including directors) of Company receive granted shares and share options in the form of share -based -settled The cost of equity -settled -settled The cumulative expense recognized for equity -settled -market -vesting -vesting For awards that do not ultimately vest because non -market -vesting -vesting Where the terms of an equity -settled -based Where an equity -settled -vesting -settled Comprehensive Loss Comprehensive loss consists of two components, net loss and other comprehensive income (loss). Other comprehensive income (loss) consists of foreign currency translation adjustment from YS Group not using RMB as its functional currency. Shareholders’ Contribution Main sources of shareholders’ contribution include debt forgiveness from related parties, cash donations from shareholders and offering. YS Group recorded the forgiveness and donations as an increase in additional paid -in Loss Per Share In accordance with ASC 260, Earnings Per Share, basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. 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 shares plus dilutive equivalent shares outstanding during the period. Dilutive equivalent shares are excluded from the computation of diluted loss per share if their effects would be anti -dilutive Segment Reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with YS Group’s internal organizational structure as well as information about geographical areas, business segments and major customers in the CFS for details on YS Group’s business segments. YS Group uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by YS Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. YS Group’s CODM has been identified as the CEO, who reviews consolidated results when making decisions about allocating resources and assessing performance of YS Group. Based on management’s assessment, YS Group has only one operating segment, which is the development, production, marketing and sale of biopharmaceutical products. No operating segments were aggregated to form the reportable operating segment. Significant Risks Currency risk A majority of YS Group’s expenses are denominated in RMB and a significant portion of YS Group and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by YS Group in China must be processed through the PBOC or other Company foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance. YS Group maintains bank accounts in the PRC. On May 1, 2015, China’s new Deposit Insurance Regulation came into effect, pursuant to which banking financial institutions, such as commercial banks, established in the PRC are required to purchase deposit insurance for deposits in RMB and in foreign currency placed with them. Such Deposit Insurance Regulation would not be effective in providing complete protection for YS Group’s accounts, as its aggregate deposits are higher than the compensation limit, which is RMB500,000 for one bank. However, YS Group believes the risk of failure of any of these Chinese banks is remote. Bank failure is uncommon in the PRC and YS Group believes that those Chinese banks that hold YS Group’s cash are financially sound based on public available information. Concentration and political risk Currently, YS Group involves significant operation carried out in the PRC. Accordingly, YS Group’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. YS Group’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. YS Group’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti -inflationary Interest rate risk Fluctuations in market interest rates may negatively affect YS Group’s financial condition and results of operations. YS Group is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. YS Group has not used any derivative financial instruments to manage YS Group’s interest risk exposure. Related Parties A party is considered to be related to YS Group if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with YS Group. Related parties also include principal owners of YS Group, its management, members of the immediate families of principal owners of YS Group and its management and other parties with which YS Group may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party. Recently Issued Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016 -13 -issuers -05 -effect -10 -13 In December 2019, the FASB issued ASU 2019 -12 YS Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on YS Group’s consolidated financial position, statements of Income and comprehensive income and cash flows.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Accounts Receivable, Net [Abstract]
ACCOUNTS RECEIVABLE, NET	NOTE 4 — ACCOUNTS RECEIVABLE, NET Accounts receivable, net are as follows: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Trade receivables 487,418,616 459,077,454 $ 63,940,145 Allowance for doubtful accounts (24,366,824 ) (29,708,520 ) (4,137,792 ) Accounts receivable, net 463,051,792 429,368,934 $ 59,802,353 The allowance for doubtful accounts reflects YS Group’s best estimate of probable losses inherent in the accounts receivable balance. YS Group estimates the allowance based on historical experience, the age of the accounts receivable balances, credit quality of YS Group’s customers, current and forecasted future economic conditions, and other factors that may affect customers’ ability to pay. During the six months ended September 30, 2023 and 2022, no YS Group’s accounts receivable had been written off. Below is an analysis of the movements in the allowance for doubtful accounts: Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the period (audited) 13,615,875 24,366,824 $ 3,393,802 Additions (unaudited) 6,447,110 5,341,696 743,990 Balance at end of the period (unaudited) 20,062,985 29,708,520 $ 4,137,792	NOTE 4 — ACCOUNTS RECEIVABLE, NET As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Trade receivables 322,170,980 487,418,616 $ 70,931,300 Allowance for doubtful accounts (13,615,875 ) (24,366,824 ) (3,545,967 ) Accounts receivable, net 308,555,105 463,051,792 $ 67,385,333 The allowance for doubtful accounts reflects YS Group’s best estimate of probable losses inherent in the accounts receivable balance. YS Group estimates the allowance based on historical experience, the age of the accounts receivable balances, credit quality of YS Group’s customers, current and forecasted future economic conditions, and other factors that may affect customers’ ability to pay. During the years ended March 31, 2021, 2022 and 2023, no YS Group’s accounts receivable had been written off. Below is an analysis of the movements in the allowance for doubtful accounts: Year Ended March 31, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the year 8,530,951 13,615,875 $ 1,981,442 Additions 5,084,924 10,750,949 1,564,525 Balance at end of the year 13,615,875 24,366,824 $ 3,545,967

Inventories, Net

Inventories, Net	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Inventories, Net [Abstract]
INVENTORIES, NET	NOTE 5 — INVENTORIES, NET YS Group’s inventories consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Raw materials 50,453,180 63,425,030 $ 8,833,816 Work in progress 61,275,177 40,767,989 5,678,151 Finished goods (1) 78,432,041 118,253,022 16,470,239 Allowance for slow-moving or obsolete inventories (4,779,446 ) (9,625,670 ) (1,340,660 ) Inventories, net 185,380,952 212,820,371 $ 29,641,546 ____________ (1) The movements in the allowance for slow -moving Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the period (audited) 5,503,029 4,779,446 $ 665,679 Additions (unaudited) — 10,678,694 1,487,325 Inventories written off (unaudited) (4,393,629 ) (5,832,470 ) (812,344 ) Balance at end of the period 1,109,400 9,625,670 $ 1,340,660	NOTE 5 — INVENTORIES, NET YS Group’s inventories consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Raw materials 57,926,980 50,453,180 $ 7,342,169 Work in progress 40,795,744 61,275,177 8,917,033 Finished goods 73,285,870 78,432,041 11,413,775 Allowance for slow-moving or obsolete inventories (5,503,029 ) (4,779,446 ) (695,526 ) Inventories, net 166,505,565 185,380,952 $ 26,977,451 The movements in the allowance for slow -moving Year Ended March 31, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the year 41,301,797 5,503,029 $ 800,825 Additions 4,393,629 3,670,046 534,081 Inventories written off (40,192,397 ) (4,393,629 ) (639,380 ) Balance at end of the year 5,503,029 4,779,446 $ 695,526

Property, Plant and Equipment,

Property, Plant and Equipment, Net	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Property, Plant and Equipment, Net [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	NOTE 6 — PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consists of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Cost Construction in progress 309,948,621 274,132,838 $ 38,181,125 Plant and buildings 178,756,490 216,039,542 30,089,911 Machinery and equipment 237,637,928 241,771,870 33,673,900 Electronic equipment 11,117,440 11,314,439 1,575,871 Motor vehicles 3,031,087 3,252,678 453,032 Office equipment and furniture 34,423,995 38,522,520 5,365,403 Leasehold improvements 5,597,019 1,933,197 269,255 Total Cost 780,512,580 786,967,084 109,608,497 Less: accumulated depreciation (178,864,241 ) (195,396,698 ) (27,214,783 ) Less: asset impairment (29,891,896 ) (29,891,896 ) (4,163,333 ) Property and equipment, net 571,756,443 561,678,490 $ 78,230,381 In fiscal 2014, based on an evaluation of the company’s related production plan and conditions of property, plant and equipment, the Company recorded an asset impairment of approximately RMB29.9 million on those property, plant and equipment that could no longer be used for production. There are no events or changes in circumstances that indicate the carrying amount of an asset may not be fully recoverable by comparing the carrying amount of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition.	NOTE 6 — PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Cost Construction in progress 318,000,074 309,948,621 $ 45,105,086 Plant and buildings 170,206,987 178,756,490 26,013,430 Machinery and equipment 194,875,303 237,637,928 34,582,116 Electronic equipment 10,107,578 11,117,440 1,617,859 Motor vehicles 2,978,155 3,031,087 441,097 Office equipment and furniture 29,888,526 34,423,995 5,009,531 Leasehold improvements 4,390,980 5,597,019 814,503 Total Cost 730,447,603 780,512,580 113,583,622 Less: accumulated depreciation (150,402,597 ) (178,864,241 ) (26,029,112 ) Less: asset impairment (29,891,896 ) (29,891,896 ) (4,349,998 ) Property and equipment, net 550,153,110 571,756,443 $ 83,204,512 In fiscal 2014, based on an evaluation of the company’s related production plan and conditions of property, plant and equipment, the Company recorded an asset impairment for approximately RMB29.9 million on those property, plant and equipment that could no longer be used for production. There are no events or changes in circumstances that indicate the carrying amount of an asset may not be fully recoverable by comparing the carrying amount of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets, Net	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Prepaid Expenses and Other Current Assets, Net [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET	NOTE 7 — PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET Prepaid expenses and other current assets, net consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Deposits (1) 4,339,791 4,204,925 $ 585,660 Staff advances (2) 606,859 283,299 39,458 Staff’s social security (3) 252,090 242,753 33,811 Value added tax recoverable (4) 4,249,718 1,665,748 232,005 Clinical trial insurance (5) 178,699 — — Prepaid expense (8) — 3,467,843 483,000 Other receivable (6) 901,355 1,592,850 221,851 Allowance (7) (115,743 ) (115,743 ) (16,121 ) Total 10,412,769 11,341,675 $ 1,579,664 ____________ (1) -level (2) (3) (4) -added (5) -19 -19 (6) (7) (8)	NOTE 7 — PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET Prepaid expenses and other current asset, net consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Deposits (1) 2,807,847 4,339,791 $ 631,545 Staff advances (2) 383,251 606,859 88,313 Staff’s social security (3) 615,581 252,090 36,685 Value added tax recoverable (4) 3,442,733 4,249,718 618,438 Clinical trial insurance (5) — 178,699 26,005 Other receivable (6) 854,245 901,355 131,169 Allowance (7) (115,743 ) (115,743 ) (16,843 ) Total 7,987,914 10,412,769 $ 1,515,312 ____________ (1) -level (2) (3) (4) -added (5) -19 -19 (6) (7)

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Intangible Assets, Net [Abstract]
INTANGIBLE ASSETS, NET	NOTE 8 — INTANGIBLE ASSETS, NET YS Group’s intangible assets are presented below: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Cost Patents 79,608,000 79,608,000 $ 11,087,774 Licenses, software and laboratory information system 10,435,478 10,435,478 1,453,450 Land use rights 67,181,860 67,181,860 9,357,066 Total Cost 157,225,338 157,225,338 21,898,290 Less: Accumulated Amortization (79,168,546 ) (82,586,982 ) (11,502,686 ) Intangible Assets, net 78,056,792 74,638,356 $ 10,395,604	NOTE 8 — INTANGIBLE ASSETS, NET YS Group’s intangible assets are presented below: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Cost Patents 79,608,000 79,608,000 $ 11,584,906 Licenses, software and laboratory information system 6,143,880 10,435,478 1,518,617 Land use rights 67,181,860 67,181,860 9,776,600 Total Cost 152,933,740 157,225,338 22,880,123 Less: Accumulated Amortization (72,215,762 ) (79,168,546 ) (11,520,955 ) Intangible Assets, net 80,717,978 78,056,792 $ 11,359,168

Bank Loans and Other Borrowings

Bank Loans and Other Borrowings	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Bank Loans and Other Borrowings [Abstract]
BANK LOANS AND OTHER BORROWINGS	NOTE 9 — BANK LOANS AND OTHER BORROWINGS Bank loans and other borrowings are as follows: March 31, September 30, September 30, Maturity Interest (RMB) (RMB) (US$) (Unaudited) (Unaudited) China Guangfa Bank Co., Ltd. – Shenyang Branch (1) 41,191,031 45,351,601 $ 6,316,555 2023/12/16 – 5.66 % Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch (2) 82,964,518 — — 2023/6/29 – 5.30 % China CITIC Bank Shenyang Tiexi Branch (4) 23,596,350 36,424,414 5,073,179 2023/10/13 – 5.00 % China CITIC Bank Shenyang Tiexi Branch (5) 5,000,000 — — 2023/5/25 – 3.25 % China CITIC Bank Shenyang Tiexi Branch (6) — 3,550,600 494,526 2024/5/29 4.75 % China Construction Bank Shenyang Heping Branch (7) 31,330,000 33,160,000 4,618,513 2023/11/21 – 4.00 % China Construction Bank Shenyang Heping Branch (8) 988,000 1,700,400 236,831 2024/1/12 – 3.90 % Zhongguancun Technology Leasing Co., Ltd (10) 8,666,664 8,666,664 1,207,090 2025/11/7 5.00 % CITIC Financial Leasing Co., Ltd (11) — 12,825,276 1,786,300 2026/5/29 4.80 % Minsheng Bank Shenyang Huanghe Street Branch (12) — 11,286,310 1,571,953 2024/7/7 – 4.00 % Industrial Bank Shenyang Branch (14) — 29,776,670 4,147,285 2024/8/15 – 4.00 % Bank loans due within one year 193,736,563 182,741,935 25,452,232 R-Bridge Healthcare Fund, LP (3) 274,868,000 287,192,000 40,000,000 2026/9/15 4.00 % China Construction Bank Shenyang Heping Branch (9) 4,430,000 14,720,000 2,050,196 2024/9/16 – 4.00 % Zhongguancun Technology Leasing Co., Ltd (10) 14,492,596 10,111,116 1,408,273 2025/11/7 5.00 % CITIC Financial Leasing Co., Ltd (11) — 23,993,182 3,341,762 2026/5/29 4.80 % Industrial Bank Shenyang Branch (13) — 19,993,041 2,784,624 2026/7/31 – 4.25 % Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch (15) — 5,955,734 829,512 2024/3/21 – 4.00 % Long-term bank loans 293,790,596 361,965,073 50,414,367 Total bank loans 487,527,159 544,707,008 $ 75,866,599 ____________ (1) three (2) three (3) -Bridge Repayment Date Repayment April 7, 2025 6,400,000 July 7, 2025 6,400,000 October 7, 2025 6,400,000 January 7, 2026 6,400,000 April 7, 2026 6,400,000 July 7, 2026 8,000,000 Total 40,000,000 Under the terms of the Facility Agreement, YS Group shall ensure: (a) (i) (ii) (b) (i) (ii) (c) (d) If there is (or it is anticipated that there will be) a breach, YS Group may apply for a waiver of such breach or requirement by the majority lenders. Such breach shall cease to constitute an event of default if the majority lenders agreed to grant such waiver. If not, YS Group shall prepay the loan in whole or in part. YS Group shall ensure that no other group member will acquire any company, shares, securities, business, assets, or undertaking or make any investment except for that an acquisition the total consideration for which (when aggregated with (A) the total consideration for any other acquisition made in the same financial year, and (B) the aggregate amount of investments in any joint venture made in the same financial year) does not exceed RMB30,000,000 (or its equivalent in another currency or currencies). On December 27, 2023, YS Group received a letter from R -Bridge -Bridge -Bridge -Bridge Under the terms of the Facility Agreement, YS Group and Agent also entered into a Deed, pursuant to which YS Group will pay to Agent, the Royalties on the Products as contingent interest in addition to the payments made to Agent under the Facility Agreement, on the terms and subject to the conditions of the Deed. YS Group is obliged to pay royalties to such agent as contingent interest for the facility based upon YS Group’s annual net sales of rabies vaccines by multiplying the royalty rate ranging from 1.5% to 3.5% by the corresponding amount incremental net sales for that financial year. YS Group shall pay accrued interest on the Loan on each Payment Date. As of September 30, 2023, YS Group accrued approximately RMB4.4 million (US$0.6 million) of interest. (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) three (14) (15) YS Group recorded RMB14.9 million and RMB15.2 million of interest expense for the six months ended September 30 2023 and 2022, respectively.	NOTE 9 — BANK LOANS AND OTHER BORROWINGS As of March 31, Maturity Interest 2022 2023 2023 (RMB) (RMB) (US$) China Guangfa Bank Co., Ltd. – Shenyang Branch (1) 46,456,142 41,191,031 $ 5,994,300 2023/10/13 – 5.66 % Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch (2) 64,647,870 82,964,518 12,073,361 2023/6/29 – 5.30 % Citi Bank (3) 234,743 — — 2022/5/1 1.00 % R-Bridge Healthcare Fund, LP (4) 394,999 — — 2026/9/15 4.00 % China CITIC Bank Shenyang Tiexi Branch (5) — 23,596,350 3,433,845 2023/10/13 – 5.00 % China CITIC Bank Shenyang Tiexi Branch (6) — 5,000,000 727,622 2023/5/25 – 3.25 % China Construction Bank Shenyang Heping Branch (7) — 31,330,000 4,559,279 2023/9/8 – 4.00 % China Construction Bank Shenyang Heping Branch (8) — 988,000 143,778 2024/1/12 3.90 % Zhongguancun Technology Leasing Co., Ltd (10) — 8,666,664 1,261,212 2025/11/7 5.00 % Bank loans due within one year 111,733,754 193,736,563 $ 28,193,397 R-Bridge Healthcare Fund, LP (4) 253,928,000 274,868,000 40,000,000 2026/9/15 4.00 % China Construction Bank Shenyang Heping Branch (9) — 4,430,000 644,673 2024/9/16 4.00 % Zhongguancun Technology Leasing Co., Ltd (10) 14,492,596 2,109,026 2025/11/7 5.00 % Long-term bank loans 253,928,000 293,790,596 $ 42,753,699 Total bank loans 365,661,754 487,527,159 $ 70,947,096 (1) three (2) three (3) (4) -Bridge Repayment Date Repayment Instalment April 7, 2025 6,400,000 July 7, 2025 6,400,000 October 7, 2025 6,400,000 January 7, 2026 6,400,000 April 7, 2026 6,400,000 July 7, 2026 8,000,000 Total 40,000,000 (5) (6) (7) (8) (9) (10) YS Group recorded RMB32.0 million, RMB2.8 million and RMB5.8 million of interest expense for the years ended March 31, 2023, 2022 and 2021, respectively.

Leases

Leases	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Leases [Abstract]
LEASES	NOTE 10 — LEASES A summary of YS Group’s operating leases as of March 31, 2023 and September 30, 2023 are as follows: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Operating lease ROU assets 11,132,428 9,607,109 $ 1,338,075 Operating lease liabilities – current 4,753,547 5,027,649 $ 700,249 Operating lease liabilities – non-current 6,348,890 4,462,505 $ 621,536 Weighted average remaining lease term 2.5 2.0 2.0 Weighted average discount rate 4.7 % 4.9 % 4.9 % A summary of lease cost recognized in YS Group’s CFS and supplemental cash flow information for operating leases is as follows: Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Operating lease cost 2,508,388 2,711,527 $ 377,661 Cash paid for operating leases 786,888 2,822,023 $ 393,050 A summary of maturity of operating lease liabilities under the YS Group’s non -cancelable 12 months Ending September 30, As of September 30, 2023 (RMB) (US$) 2024 5,332,992 $ 742,777 2025 4,275,341 595,468 2026 357,806 49,835 Total lease payments 9,966,139 1,388,080 Less: Interest (475,985 ) (66,295 ) Present value of operating lease liabilities 9,490,154 $ 1,321,785	NOTE 10 — LEASES A summary of YS Group’s operating leases as of March 31, 2022 and 2023 is as follows: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Operating lease ROU assets 14,850,283 11,132,428 $ 1,620,040 Operating lease liabilities – current 4,322,252 4,753,547 $ 691,757 Operating lease liabilities – non-current 10,605,260 6,348,890 $ 923,918 Weighted average remaining lease term 3.4 2.5 2.5 Weighted average discount rate 4.8 % 4.7 % 4.7 % A summary of lease cost recognized in YS Group’s CFS and supplemental cash flow information related to operating leases is as follows: Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) Operating lease cost 2,643,917 4,594,967 5,002,684 $ 728,013 Cash paid for operating leases 2,601,625 4,587,894 3,349,856 $ 487,486 A summary of maturity of operating lease liabilities under YS Group’s non -cancelable Year Ended March 31, (RMB) (US$) 2024 5,178,993 $ 753,670 2025 5,040,835 733,564 2026 1,526,270 222,110 Total lease payments 11,746,098 1,709,344 Less: Interest (643,661 ) (93,669 ) Present value of operating lease liabilities 11,102,437 $ 1,615,675

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Accrued Expenses and Other Current Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 11 — ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Salaries and social security insurance payable (1) 55,188,497 55,003,111 $ 7,660,814 Promotion service fee (2) 87,567,459 110,977,249 15,456,872 Taxes other than income tax 379,595 — — Late fees (3) 9,927,056 10,219,206 1,423,327 Payable for property, plant and equipment 47,579,463 30,549,960 4,254,988 CDC transportation and storage fee 49,976,200 45,314,910 6,311,445 Guarantee deposits (4) 108,795,884 121,848,973 16,971,082 Professional service fees (5) 5,121,970 2,290,725 319,051 Interest payable (6) 6,055,245 4,652,964 648,063 Other (7) 6,945,275 7,214,894 1,004,888 Total 377,536,644 388,071,992 $ 54,050,530 ____________ (1) March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Salaries 47,390,831 47,586,649 $ 6,627,852 Social security insurance 7,179,828 6,808,494 948,285 Union Fee 617,838 607,968 84,677 Total 55,188,497 55,003,111 $ 7,660,814 (2) (3) (4) (5) (6) -Bridge (7)	NOTE 11 — ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Salaries and social security insurance payable (1) 57,459,273 55,188,497 $ 8,031,273 Promotion service fee (2) 64,883,477 87,567,459 12,743,202 Taxes other than income tax 1,171,381 379,595 55,240 Late fees (3) 9,499,595 9,927,056 1,444,629 Payable for property, plant and equipment 48,774,134 47,579,463 6,923,973 CDC transportation and storage fee 35,023,095 49,976,200 7,272,756 Guarantee deposits (4) 94,528,659 108,795,884 15,832,455 Professional service fee (5) 7,758,448 5,121,970 745,372 Interest payable (6) — 6,055,245 881,186 Other payable (7) 7,653,291 6,945,275 1,010,707 Total 326,751,353 377,536,644 $ 54,940,793 (1) As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Salaries 49,020,045 47,390,831 $ 6,896,522 Social security insurance 7,732,161 7,179,828 1,044,840 Union Fee 707,067 617,838 89,911 Total 57,459,273 55,188,497 $ 8,031,273 (2) (3) (4) (5) (6) -Bridge (7)

Warrants

Warrants	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Warrants [Abstract]
WARRANTS	NOTE 12 — WARRANTS As of September 30, 2023, YS Group has 10,750,000 public warrants and 6,000,000 private warrants. YS Group accounts for its outstanding warrants in accordance with ASC 815 -40-15-7D -measurement Upon the consummation of the business combination, each Summit Warrant outstanding ceased to be a warrant with respect to Summit Public Shares and be assumed by YS Biopharma and converted into a YS Biopharma Warrant entitling the holder thereof to purchase such number of Ordinary Share on a one -on-one The private warrants are accounted for as liabilities in accordance with ASC 815 -40 As of Fair value of the underlying asset as of the Valuation Date 0.8 Strike price 11.5 Life to expiration (Years.) 4.5 Volatility 67.0 % Number of steps 100 Redemption price (per share) 0.1 As of September 30, 2023, the value of the private warrants was RMB2.2 million. The change in FV from March 31, 2023 to September 30, 2023 was RMB6.9 million. The table below reflects the movement of warrant liabilities for the six months ended September 30, 2023: April 1, Additions Change in Foreign September 30, September 30, (RMB) (RMB) (RMB) (RMB) (RMB) (US$) Private Warrants 8,792,389 — (6,851,308 ) 244,041 2,185,122 $ 304,343 Total 8,792,389 — (6,851,308 ) 244,041 2,185,122 $ 304,343	NOTE 13 — WARRANTS As of March 31, 2023, YS Group has 10,750,000 public warrants and 6,000,000 private warrants. YS Group accounts for its outstanding warrants in accordance with ASC 815 -40-15-7D -measurement Upon the consummation of the business combination, each Summit Warrant outstanding immediately prior has ceased to be a warrant with respect to Summit Public Shares and be assumed by YS Biopharma and converted into a YS Biopharma Warrant entitling the holder thereof to purchase such number of Ordinary Share on a one -on-one The private warrants are accounted for as liabilities in accordance with ASC 815 -40 As of Fair value of the underlying asset as of the Valuation Date 1.6 Strike price 11.5 Life to expiration (Years.) 4.9 Volatility 62.9 % Number of steps 100 Redemption price (per share) 0.1 As of March 31, 2023, the value of the private warrants was RMB8.7 million. The change in FV from March 31, 2022 to March 31, 2023 was RMB21,358. The table below reflects the movement of warrant liabilities for the year ended March 31, 2023: April 1, Additions Change in Foreign March 31, March 31, (RMB) (RMB) (RMB) (RMB) (RMB) (US$) Private Warrants — 8,814,592 (21,358 ) (845 ) 8,792,389 $ 1,279,507 Total — 8,814,592 (21,358 ) (845 ) 8,792,389 $ 1,279,507

Warrants Accounted as Equity-Me

Warrants Accounted as Equity-Method Instruments	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Warrants Accounted as Equity-Method Instruments [Abstract]
WARRANTS ACCOUNTED AS EQUITY-METHOD INSTRUMENTS	NOTE 13 — WARRANTS ACCOUNTED AS EQUITY-METHOD INSTRUMENTS Upon consummation of the Business Combination with Summit, Summit’s 10,000,000 public warrants were converted into YS Biopharma warrants, and YS Group sold additional 750,000 public warrants. Following the Business Combination, YS Biopharma may redeem public warrants prior to their exercise at a time that is disadvantageous to the holders of such warrants, thereby making such warrants worthless. More specifically: • -up -day • -up -day In each case, YS Biopharma may only call the Warrants for redemption upon a minimum of 30 Redemption of the outstanding Warrants could force holders of the Warrants to (a) exercise Warrants and pay the exercise price therefor at a time when it may be disadvantageous for such holders to do so, (b) sell Warrants at the then -current	NOTE 14 — WARRANTS ACCOUNTED AS EQUITY-METHOD INSTRUMENTS Upon the consummation of the Business Combination with Summit, Summit’s 10,000,000 public warrants were converted into YS Biopharma warrants, and YS Group sold additional 750,000 units of public warrants. Following the Business Combination, YS Biopharma may redeem public warrants prior to their exercise at a time that is disadvantageous to the holders of such warrants, thereby making such warrants worthless. More specifically: • -up -day • -up -day In each case, YS Biopharma may only call the Warrants for redemption upon a minimum of 30 days’ prior notice of redemption. Redemption of the outstanding Warrants could force holders of the Warrants to (a) exercise Warrants and pay the exercise price therefor at a time when it may be disadvantageous for such holders to do so, (b) sell Warrants at the then -current

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Stock-Based Compensation [Abstract]
STOCK-BASED COMPENSATION	NOTE 14 — STOCK-BASED COMPENSATION YS Group operates a share -based The 2010 Share Incentive Plan On June 21, 2010, YS Group adopted the 2010 Share Incentive Plan (the “Plan”) that has a contractual term of 10 years. The Plan provides for the granting of stock options and other stock -based The stock options granted to employees are accounted for as equity awards and measured at their grant date FVs. Options that vest based on service conditions generally become vested over a three -year On January 1, 2015, an annual grant of 127,500 options, giving retroactive effect of combination in March 2023, which vest based on performance conditions, were granted to various employees. The annual grant was applicable for calendar 2015, 2016, 2017, 2018, 2019 and 2020, respectively. The options vest in equal quarterly instalments based on performance targets established on January 1 st For options granted to YS Group’s senior executives, the grantee can exercise vested options after the commencement date of exercise and before the earlier of: 1) its contractual term (i.e., 10 years after each of its vesting date); or 2) 5 years after the grantee terminates their employment if the vested option has not been exercised. For options granted to the remaining employees, the grantee can exercise vested options after the commencement date of exercise and before the earlier of: 1) its contractual term (i.e., 10 years after each of its vesting date); or 2) 12 months after the grantee terminates their employment if the vested option has not been exercised. For those awards, evaluations are made as of each reporting period to assess the likelihood of performance criteria being met. Share -based The exercise prices and exercise periods, giving retroactive effect of combination in March 2023, of the share options outstanding as at the end of each of the Relevant Periods are as follows: Number of Average option (RMB) As of March 31, 2022 3,253,565 29.3156 Granted during the period — — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of March 31, 2023 3,253,565 32.4020 Granted during the period — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of September 30, 2023 3,253,565 32.4020 The exercise prices and exercise periods of the share options outstanding as at the end of the reporting periods are as follows: Six Months Ended September 30, 2023 Exercise price Exercise period (RMB) 1,533,252 13.938 2021 – 2031 613,369 25.8524 2021 – 2026 1,106,944 52.5376 2021 – 2026 3,253,565 Restricted share units (“RSU”) Giving retroactive effect of combination in March 2023, on February 1, 2018, YS Group granted 692,500 RSUs to employees under the Plan. The weighted average grant -date -annual -annual four years, respectively. The remaining 287,500 RSUs vested on March 16, 2023 due to the successful closing of the public offering. YS Group recognized expenses associated with these RSUs immediately in fiscal 2023. As of March 31, 2023, all the granted options are vested, and there were no unrecognized share -based Giving retroactive effect of combination in March 2023, on July 25, 2018, YS Group granted 270,000 RSUs to three independent directors. Starting from the effective date of August 1, 2018, 30,000 RSUs will be awarded to each of the three two -month -date -based The 2020 Share Incentive Plan On December 31, 2020, YS Group’s board of directors adopted the 2020 Share Incentive Plan to grant share -based Stock -based Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Research and development (1,015,055 ) — $ — General and administrative 929,739 — — Total stock-based compensation (85,316 ) — $ — On August 15, 2022, unanimous written resolution of the BOD of YS Group accepted from a former employee, surrender of 143,750 of issued shares with US$0.00002 each in YS Group registered in his name, giving retroactive effect of combination in March 2023.	NOTE 15 — STOCK -BASED COMPENSATION YS Group operates a share -based The 2010 Share Incentive Plan On June 21, 2010, YS Group adopted the 2010 Share Incentive Plan (the “Plan”) that has a contractual term of 10 years. The Plan provides for the granting of stock options and other stock -based The stock options granted to employees are accounted for as equity awards and measured at their grant date fair values. Options that vest based on service conditions generally will become vested over a three -year On January 1, 2015, an annual grant of 127,500 options, giving retroactive effect of combination in March 2023, which vest based on performance conditions, were granted to various employees. The annual grant was applicable for calendar years 2015, 2016, 2017, 2018, 2019 and 2020, respectively. The options become vested in equal quarterly instalments based on performance targets established on January 1 st For options granted to YS Group’s senior executives, the grantee can exercise vested options after the commencement date of exercise and before the earlier of 1) its contractual term (i.e., 10 years after each of its vesting date); or 2) 5 years after the grantee terminates their employment if the vested option has not been exercised. For options granted to the remaining employees, the grantee can exercise vested options after the commencement date of exercise and before the earlier of 1) its contractual term (i.e., 10 years after each of its vesting date); or 2) 12 months after the grantee terminates their employment if the vested option has not been exercised. For those awards, evaluations are made as of each reporting period to assess the likelihood of performance criteria being met. Share -based The exercise prices and exercise periods, giving retroactive effect of combination in March 2023, of the share options outstanding as at the end of each of the Relevant Periods are as follows: Number of Average option (RMB) As of March 31, 2021 3,253,565 29.3156 Granted during the period — — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of March 31, 2022 3,253,565 29.3156 Granted during the period — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of March 31, 2023 3,253,565 32.4020 The exercise prices and exercise periods, giving retroactive effect of combination in March 2023, of the share options outstanding as at the end of the reporting periods are as follows: Year Ended 31 March 2023 Exercise price Exercise period (RMB) 1,533,252 13.938 2021 – 2031 613,369 25.8524 2021 – 2026 1,106,944 52.5376 2021 – 2026 3,253,565 Bonus incentive plan On January 1, 2015, YS Group launched a bonus incentive program effective for six years from launch date. The bonus incentive program is divided into two six -month -month -end six -month Based on the above, the employee does not receive a number of ordinary shares with a FV equal to a predominantly fixed dollar amount on the delivery date. Hence, the ordinary shares granted to employees are accounted for as equity awards. In addition, each monthly tranche should be accounted for as a separate award with its own service inception date, grant -date Restricted share units (“RSU”) Giving retroactive effect of combination in March 2023, on February 1, 2018, YS Group granted 692,500 RSUs to employees under the Plan. The weighted average grant -date -annual three -annual four no -based Giving retroactive effect of combination in March 2023, on July 25, 2018, YS Group granted 270,000 units of RSUs to three independent directors. Starting from the effective date of August 1, 2018, 30,000 RSUs will be awarded to each of the three two -month -date no -based The 2020 Share Incentive Plan On December 31, 2020, YS Group’s board of directors adopted the 2020 Share Incentive Plan for the purpose of granting share -based Stock -based Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) Research and development 4,200,464 975,171 (997,846 ) $ (145,211 ) General and administrative 72,501,943 6,789,277 4,502,847 655,274 Selling and marketing 54,093 — — — Total stock-based compensation 76,756,500 7,764,448 3,505,001 $ 510,063 On August 15, 2022, unanimous written resolution of the board of director of YS Group accepted the notice from a former employee, for the surrender of 143,750 of issued shares with US$0.00002 each in YS Group registered in his name, giving retroactive effect of combination in March 2023.

Related Party Transactions and

Related Party Transactions and Balances	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Related Party Transactions and Balances [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	NOTE 15 — RELATED PARTY TRANSACTIONS AND BALANCES The following companies are related parties that had balances or transactions with YS Group as of and during the six months ended September 30, 2023 and 2022: Name of related parties Relationship with YS Group Yisheng Biopharma Co., Ltd An entity controlled by Yi Zhang Yisheng Biopharma Holdings Ltd. An entity controlled by Yi Zhang Kaifeng Yisheng Pan-Asia Technology Co., Ltd An entity controlled by Yi Zhang Beijing Yisheng Xingye Technology Co., Ltd. An entity controlled by Yi Zhang Changchun Bailong Biotechnology Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Huizhong Health Services Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Biopharma Co., Ltd. An entity controlled by Yi Zhang Beijing Huaerdun Kangqi Biotechnology Co., Ltd. An entity controlled by Yi Zhang Name of related parties Relationship with YS Group Liaoning Yisheng Pan-Asia An entity controlled by Yi Zhang Yi Zhang* Chairman of Board of Directors Hui Shao Chief Executive Officer Nan Zhang Daughter of the Chairman Xu Zhang Daughter of the Chairman Rui Mi Spouse of the Chairman * -month Transactions with related parties There’s no transaction with related parties during the six months ended September 30, 2022. In July, 2023, YS Group spent US$20,000 to purchase a vehicle from Ms. Ruimi, spouse of Mr. Yi Zhang.	NOTE 16 — RELATED PARTY TRANSACTIONS AND BALANCES The following companies are related parties that had balances or transactions with YS Group as of and during the fiscal years ended March 31, 2021, 2022 and 2023: Name of related parties Relationship with YS Group Yisheng Biopharma Co., Ltd An entity controlled by Yi Zhang Yisheng Biopharma Holdings Ltd. An entity controlled by Yi Zhang Kaifeng Yisheng Pan-Asia Technology Co., Ltd An entity controlled by Yi Zhang Beijing Yisheng Xingye Technology Co., Ltd. An entity controlled by Yi Zhang Changchun Bailong Biotechnology Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Huizhong Health Services Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Biopharma Co., Ltd. An entity controlled by Yi Zhang Beijing Huaerdun Kangqi Biotechnology Co., Ltd. An entity controlled by Yi Zhang Liaoning Yisheng Pan-Asia An entity controlled by Yi Zhang Yi Zhang Chairman of Board of Directors Hui Shao Chief Executive Officer Zhongkai Shi* Chief Medical Officer Nan Zhang Daughter of the Chairman Xu Zhang Daughter of the Chairman * Transactions with related parties YS Group had the following transactions with related parties, all of which are interest -free Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) Amounts due from related party: Yisheng Biopharma Holdings Limited (Hong Kong) Receivable collected on behalf of YS Group 30,088,833 2,966,777 — — Repayment to YS Group 33,055,610 — — In fiscal 2021, YS Group lent RMB30,088,833 to Yisheng Biopharma Holdings Limited (Hong Kong) for its operating needs. In fiscal 2022, YS Group lent another RMB2,966,777 to Yisheng Biopharma Holdings Limited (Hong Kong), and Yisheng Biopharma Holdings Limited (Hong Kong) repaid RMB33,055,610 in full to YS Group. As of March 31, 2022, the balance of amount due from Yisheng Biopharma Holdings Limited (Hong Kong) is RMB nil

Income Tax

Income Tax	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Income Tax [Abstract]
INCOME TAX	NOTE 16 — INCOME TAX Cayman Islands. Hong Kong. -sourced Singapore. China. -by-case -apply three three United States. Philippines. The provision for income tax consisted only of deferred tax. The following table reconciles the statutory rate to YS Group’s effective tax rate: Six Months Ended September 30, 2022 2023 (Unaudited (Unaudited) PRC statutory income tax rate 25.00 % 25 % Effect of different tax rates in different jurisdictions (182.62 )% (14.93 )% Effect of PRC preferential tax rate (100.49 )% 3.93 % Effect of R&D expenses deduction and other 80.56 % 11.94 % Temporary differences* 5.03 % (0.71 )% Change in valuation allowance 177.88 % (25.70 )% Effective tax rate 5.36 % (0.47 )% ____________ * Net deferred tax assets as of September 30, 2023 and March 31, 2023, consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Deferred tax assets: Write-down of inventories to net realizable value 716,917 1,443,851 $ 201,099 Impairment of property, plant and building 1,769,405 1,638,378 228,193 Deferred government grants 3,296,223 3,124,045 435,116 Losses available for offsetting against future taxable 39,366,020 39,366,020 10,792,055 Less: valuation allowance (39,366,020 ) (39,366,020 ) (10,792,055 ) Total deferred tax assets, net 5,782,545 6,206,274 864,408 Deferred tax liabilities: Fair value adjustments arising from historical acquisition of subsidiaries (3,876,964 ) (3,480,340 ) (484,741 ) Total deferred tax liabilities (3,876,964 ) (3,480,340 ) (484,741 ) Net deferred tax asset 1,905,581 2,725,934 $ 379,667 In assessing the realizability of the net DTA, YS Group considers all relevant positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The realization of the gross DTA is dependent on several factors, including the generation of sufficient taxable income in the future. Based upon an assessment of the level of historical taxable income and projections for future taxable income over the periods in which the DTA are deductible or can be utilized. The amount of the DTA is considered unrealizable because it is more likely than not that YS Group will not generate sufficient future taxable income to utilize this portion of the net operating loss. Uncertain tax positions There were no	NOTE 17 — INCOME TAX Cayman Islands. Hong Kong. -sourced Singapore. China. -by-case -apply three three United States. The provision for income tax consisted only of deferred tax. The following table reconciles the statutory rate to YS Group’s effective tax rate: Years Ended March 31, 2021 2022 2023 PRC statutory income tax rate 25.00 % 25.00 % 25.00 % Effect of different tax rates in different jurisdictions (20.56 )% (18.26 )% (36.00 )% Effect of PRC preferential tax rate (0.77 )% 4.56 % 8.72 % Effect of research and development expenses deduction and others 7.8 % 33.2 % 25.50 % Temporary differences* 10.01 % 4.88 % 0.79 % Change in valuation allowance (11.49 )% (44.47 )% (23.23 )% Effective tax rate 9.99 % 4.91 % 0.78 % * Net deferred tax assets as of March 31, 2022 and 2023, consist of the following key components: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Deferred tax assets: Write-down of inventories to net realizable value 825,454 716,917 $ 104,329 Impairment of property, plant and building 2,031,460 1,769,405 257,492 Deferred government grants 4,852,383 3,296,223 479,681 Losses available for offsetting against future taxable profits 58,257,270 39,366,020 5,728,716 Less: valuation allowance (58,257,270 ) (39,366,020 ) (5,728,716 ) Total deferred tax assets, net 7,709,297 5,782,545 841,502 Deferred tax liabilities: Fair value adjustments arising from historical acquisition of subsidiaries (4,670,213 ) (3,876,964 ) (564,193 ) Total deferred tax liabilities (4,670,213 ) (3,876,964 ) (564,193 ) Net deferred tax asset 3,039,084 1,905,581 $ 277,309 In assessing the realizability of the net deferred tax assets, YS Group considers all relevant positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The realization of the gross deferred tax assets is dependent on several factors, including the generation of sufficient taxable income in the future. Based upon an assessment of the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible or can be utilized. The amount of the deferred tax asset is considered unrealizable because it is more likely than not that YS Group will not generate sufficient future taxable income to utilize this portion of the net operating loss. Uncertain tax positions There were no

Deferred Government Grants

Deferred Government Grants	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Deferred Government Grants [Abstract]
DEFERRED GOVERNMENT GRANTS	NOTE 17 — DEFERRED GOVERNMENT GRANTS Deferred government grants are funds received from the PRC government for R&D, investment in building or improvement in YS Group’s production facilities. These specific subsidies are recorded as deferred government grants upon receipt and are recognized as government grants recognized in income when the conditions are met. Other subsidies are recognized as other income upon receipt as further performance by YS Group is not required. YS Group received government grants that were deferred of nil Deferred government grants included the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Government grants for property, plant and equipment Balance at beginning of the period (audited) 22,030,690 20,575,012 $ 2,865,680 Addition — — — Recognized as income (1,455,678 ) (727,839 ) (101,373 ) Subtotal 20,575,012 19,847,173 $ 2,764,307 Government grants for R&D Balance at beginning of the period (audited) 10,318,528 5,327,196 $ 741,970 Addition 4,000,000 — — Recognized as income (8,991,332 ) (420,011 ) (58,499 ) Subtotal 5,327,196 4,907,185 $ 683,471 Total deferred government grants 25,902,208 24,754,358 $ 3,447,778 Less: current portion 2,295,701 2,295,701 $ 319,744 Non-current portion 23,606,507 22,458,657 $ 3,128,034 Government grants included the following: September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) Government grants for property, plant and equipment Specific subsidies 727,839 727,839 $ 101,373 Other subsidies — 260,200 36,241 Subtotal 727,839 988,039 $ 137,614 Government grants for R&D Specific subsidies 8,498,711 420,011 $ 58,499 Other subsidies — 2,510,000 349,592 Subtotal 8,498,711 2,930,011 $ 408,091 Other 13,230,141 10,709,509 $ 1,491,616 Total 22,456,691 14,627,559 $ 2,037,321 Government grants for property, plant and equipment YS Group has seven deferred government grants for property, plant and equipment, and fulfilled the conditions attached to all the grants. RMB0.7 million was amortized from deferred government grant into government grant recognized in income in the six months ended September 30, 2023, compared to RMB0.7 million for the six months ended September 30, 2022. RMB1.5 million will be amortized in next 12 months ended September 30, 2024 which was included in the current deferred government grant and RMB18.4 million will be amortized after September 2024 which was included in the non -current nil Government grants for research and development YS Group has one deferred government grant for various R&D projects, and fulfilled the conditions attached to it in 2010. RMB0.8 million will be amortized in next 12 months ended September 30, 2024 which was included in the current deferred government grant and RMB4.1 million will be amortized after September 2024 which was included in the non -current nil	NOTE 18 — DEFERRED GOVERNMENT GRANTS Deferred government grants represent funds received from the PRC government for R&D, investment in building or improvement in YS Group’s production facilities. These specific subsidies are recorded as deferred government grants upon receipt and are recognized as government grants recognized in income when the conditions are met. Other subsidies are recognized as other income upon receipt as further performance by YS Group is not required. YS Group received government grants that were deferred in the amount of RMB4.0 million and RMB3.6 million in fiscal 2023 and 2022, respectively. In addition, YS Group received RMB15.7 million and RMB20.8 million other subsidies that the government has not set any conditions and are not tied to future trends or performance of YS Group and were recognized in other income in 2023 and 2022, respectively. Deferred government grants included the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Government grants for property, plant and equipment Balance at beginning of the year 21,847,340 22,030,690 $ 3,206,003 Addition 1,552,000 — — Recognized as income (1,368,650 ) (1,455,678 ) (211,837 ) Subtotal 22,030,690 20,575,012 $ 2,994,166 Government grants for research and development Balance at beginning of the year 11,158,551 10,318,528 $ 1,501,598 Addition — 4,000,000 582,098 Recognized as income (840,023 ) (8,991,332 ) (1,308,458 ) Subtotal 10,318,528 5,327,196 $ 775,238 Total deferred government grants 32,349,218 25,902,208 $ 3,769,404 Less: current portion 2,295,701 2,295,701 $ 334,081 Non-current portion 30,053,517 23,606,507 $ 3,435,323 Government grants for property, plant and equipment YS Group has seven deferred government grants related to property, plant and equipment, and has fulfilled the conditions attached to all the grants. RMB1.5 million was amortized from deferred government grant into government grant recognized in income in fiscal 2023, as compared to RMB1.4 million for the fiscal year ended March 31, 2022. RMB1.5 million will be amortized in fiscal 2024 which was included in the current deferred government grant and RMB19.1 million will be amortized after 2024 which was included in the non -current Nil Government grants for research and development YS Group has four deferred government grants related to various R&D projects, and fulfilled the conditions attached to three grants. RMB9.0 million was amortized from deferred government grant into government grant recognized in income in fiscal 2023, as compared to RMB0.8 million for the fiscal year ended March 31, 2022. RMB0.8 million will be amortized in fiscal 2024 which was included in the current deferred government grant and RMB4.5 million will be amortized after 2023 which was included in the non -current

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 18 — COMMITMENTS AND CONTINGENCIES As of September 30, 2023, YS Group has the following commitments to purchase raw materials: 2023 2023 (RMB) (US$) Research and development 143,463,250 19,981,511 Purchase raw materials 25,563,268 $ 3,560,443 Total 169,026,518 $ 23,541,954 In 2018, Liaoning Yisheng filed a sales contract dispute with Hebei Defense Biological Products Supply Center. The Supreme People’s Court of Liaoning supported the Liaoning Yisheng’s claim the defendant Hebei Weifang should pay RMB2,465,807 for Liaoning Yisheng vaccine within 20 days after the judgment came into effect. As of the date of this report, YS Group received RMB1,636,755 from Hebei Defense Biological Products Supply Center, and the balance of RMB829,052 may be received in fiscal 2024. In 2023, Liaoning Yisheng was involved in a dispute with Shenyang Haoyu Landscape Engineering Co., Ltd (“Shenyang Haoyu”) for the greening construction. In December, 2023, Shenyang Shenbei New District People’s Court of Liaoning supported Shenyang Haoyu’s claim that Liaoning Yisheng should pay RMB73,601. To the date, YS Group paid RMB73,601 to Shenyang Haoyu. In March 2023, Beijing Yisheng filed a technology transfer contract dispute with Tianjin Hemu Jianmin Biotechnology Co., Ltd (“Tianjin Hemu Jianmin ”) to Tianjin Arbitration Commission. Beijing Yisheng claimed Tianjin Hemu Jianmin should refund RMB1.0 million and the contract should terminate. In December, 2023, Tianjin Arbitration Commission supported Beijing Yisheng’s claim of terminating the contract. Beijing Yisheng is considering applying for dismissal from Tianjin Second Intermediate People’s Court. As the proceedings are in the early stages, there is uncertainty regarding the timing or ultimate resolution of such matters, and therefore, an estimate for the reasonably possible gain or a range of reasonably possible gains cannot be made. In October, 2023, Liaoning Yisheng filed an engineering dispute with Shenyang Baimu Technology Co., Ltd (“Shenyang Baimu”), claiming Shenyang Baimu should pay a penalty of RMB2,180,000 for engineering delays and refund the overpaid funds. As the proceedings are in the early stages, there is uncertainty regarding the timing or ultimate resolution of such matters, and therefore, an estimate for the reasonably possible gain or a range of reasonably possible gains cannot be made. YS Group was also involved in labor disputes as of September 30, 2023. As the proceedings are in the early stages or the second appeal, there is uncertainty regarding the timing or ultimate resolution of such matters, and therefore, an estimate for the reasonably possible loss or a range of reasonably possible losses cannot be made. On December -Bridge -Bridge -Bridge -Bridge	NOTE 19 — COMMITMENTS AND CONTINGENCIES As of March 31, 2023, YS Group has the following commitments to purchase raw materials or services: As of March 31, 2023 2023 (RMB) (US$) Other professional service fee 3,229,699 $ 470,000 Research and development 185,648,604 27,016,401 Purchase raw materials 15,528,566 2,259,785 Total 204,406,869 $ 29,746,186 In 2018, Liaoning Yisheng filed a sales contract dispute with Hebei Defense Biological Products Supply Center. The Supreme People’s Court of Liaoning supported the Liaoning Yisheng’s claim that the defendant Hebei Weifang should pay RMB2,465,807 for Liaoning Yisheng vaccine within 20 days after the judgment came into effect. As of the date of this report, YS Group has received RMB1,636,755 compensation from Hebei Defense Biological Products Supply Center, and the balance of RMB829,052 compensation may be received in fiscal 2024. In 2019, Liaoning Yisheng filed a sales contract dispute with Chaoyang Center for Disease Control and Prevention. The Supreme People’s Court of Liaoning supported the Liaoning Yisheng’s claim that the defendant Chaoyang Center for Disease Control and Prevention should pay RMB416,900 for Liaoning Yisheng vaccine. To the date, YS Group received RMB380,000 from Chaoyang Center for Disease Control and Prevention, and the balance of RMB36,900 may be received in the second half of 2023. In 2023, Liaoning Yisheng was involved in a dispute with Shenyang Haoyu Landscape Engineering Co., Ltd who claimed that Liaoning Yisheng should pay RMB278,707 for the greening construction. As the proceedings are in the early stages, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, and therefore, an estimate for the reasonably possible loss or a range of reasonably possible losses cannot be made. YS Group was also involved in certain other labor disputes as of March 31, 2023. As the proceedings are in the early stages or the second appeal, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, and therefore, an estimate for the reasonably possible loss or a range of reasonably possible losses cannot be made.

Segment Information

Segment Information	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Segment Information [Abstract]
SEGMENT INFORMATION	NOTE 19 — SEGMENT INFORMATION Based on management’s assessment, YS Group has one operating segment, which is the development, production, marketing and sale of biopharmaceutical products. No operating segments were aggregated to form the reportable operating segment. YS Group’s non -current -current March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) PRC 645,210,788 631,678,369 $ 87,979,939 Other countries/regions 4,602,447 4,638,477 $ 646,045 The non -current	NOTE 20 — SEGMENT INFORMATION Based on management’s assessment, YS Group has one operating segment, which is the development, production, marketing and sale of biopharmaceutical products. No operating segments were aggregated to form the reportable operating segment. YS Group’s non -current -current As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) PRC 604,094,049 645,210,788 $ 93,893,911 Other countries/regions 26,777,039 4,602,447 $ 669,769 The non -current

Subsequent Events

Subsequent Events	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 20 — SUBSEQUENT EVENTS YS Group performed an evaluation of events and transactions for potential recognition or disclosure through the date of this report. YS Group is not aware of any material subsequent events other than those disclosed below and elsewhere in the notes to the consolidated financial statements. As the Company disclosed in its previous filings with the Securities Exchange Commission, the Board has appointed Dr. Ajit Shetty, an independent director of the Company, as an interim Chairperson of the Board for a six -month On November 21, 2023, YS Group borrowed RMB7.1 million with interest at 4.5% from China Guangfa Bank Co, Ltd. Shenyang Branch. The loan are due on September 10, 2024. From November From October 12, 2023 to December On October 17, 2023, YS Group borrowed RMB1.9 million with interest at 4.0% from China Construction Bank Shenyang Heping Branch. The loan is due on October 15, 2025. On November 15, 2023, YS Group also borrowed RMB2.9 million with interest at 4.0% from the same bank. The loan is due on November 14, 2025. On November 15, 2023, YS Group borrowed RMB6.9 million with interest at 4.55% from China CITIC Bank Shenyang Tiexi Branch. The loans are due in May, 2024, November, 2024, May 2025 and November, 2025 respectively. On January On December 6, 2023, YS Group borrowed RMB4.8 million with interest at 4.0% from Minsheng Bank Shenyang Huanghe Street Branch. The loan is due on December 6, 2024. On December 12, 2023, YS Group borrowed RMB5.0 million with interest at 4.0% from Shanghai Pudong Development Bank Shenyang Branch. The loan is due on December 11, 2024.	NOTE 21 — SUBSEQUENT EVENTS YS Group performed an evaluation of events and transactions for potential recognition or disclosure through the date of this report. YS Group is not aware of any material subsequent events other than those disclosed below and elsewhere in the notes to the consolidated financial statements. On May 9, 2023, YS Biopharma (Philippines) Inc. (“Philippines Yisheng”) was incorporated under the laws of Philippines as an entity owned by YS Group. Philippines Yisheng was incorporated for the purpose of research, development, producing, wholesaling and commercializing pharmaceutical products, including vaccines and other biological products. On April 28, 2023, YS Group borrowed RMB6.7 million with interest at 5.3% from Shanghai Pudong Development Bank Co., Ltd. due on December 23, 2023. From May 17, 2023 to June 7, 2023, YS Group borrowed RMB10.3 million with interest at 4.0% from China Construction Bank Shenyang Heping Branch for 18 months due in November and December, 2024. From May 24, 2023 to July 18, 2023, YS Group borrowed RMB16.4 million with interest at 5.0%, of which RMB3.6 million with interest at 4.75%, from China CITIC Bank Shenyang Tiexi Branch due from February, 2024 to May 2024. On May 29, 2023, YS Group borrowed RMB40.0 million with interest at 4.8% from CITIC Financial Leasing Co., Ltd due on May 29, 2026. From June 19, 2023 to July 11, 2023, YS Group borrowed RMB13.3 million with interest at 5.66% from China Guangfa Bank Co., Ltd. Shenyang Branch due on December 16, 2023. From July 7, 2023 to July 19, 2023, YS Group borrowed RMB11.3 million with interest at 4.0% from Minsheng Bank Shenyang Huanghe Street Branch due in July, 2024.

Parent Company Only Condensed F

Parent Company Only Condensed Financial Information (Unaudited)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (UNAUDITED)	NOTE 21 — PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (UNAUDITED) Pursuant to the requirements of Rule 12 -04 -04 -08 -X PARENT COMPANY BALANCE SHEETS March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) ASSETS Current Assets Cash 3,045,660 200,226,800 $ 27,887,518 Prepaid expenses and other current assets — 3,467,843 483,000 Amounts due from subsidiaries 1,039,986,896 874,990,142 121,868,317 Total current assets 1,043,032,556 1,078,684,785 150,238,835 Non-current assets Long-term investments, net 158,734,357 165,851,381 23,099,722 Total non-current assets 158,734,357 165,851,381 23,099,722 Total Assets 1,201,766,913 1,244,536,166 $ 173,338,557 LIABILITIES AND EQUITY Current Liabilities Accrued expenses and other liabilities 461,105,636 681,685,969 $ 94,944,980 Warrants liability 8,792,389 2,185,122 304,343 Amounts due to subsidiaries 3,415,603 3,568,745 497,054 Total current liabilities 473,313,628 687,439,836 95,746,377 Total Liabilities 473,313,628 687,439,836 95,746,377 Shareholders’ equity: Ordinary shares, par value US$0.00002 per share; 9,950,000,000 shares authorized; 93,058,197 shares issued and outstanding; 12,297 12,297 1,713 Additional paid-in capital 2,656,891,036 2,656,891,036 370,050,842 Accumulated deficit (1,874,037,965 ) (2,048,560,763 ) (285,322,817 ) Accumulated other comprehensive loss (54,412,083 ) (51,246,240 ) (7,137,558 ) Total shareholders’ equity 728,453,285 557,096,330 77,592,180 Total liabilities and shareholders’ equity 1,201,766,913 1,244,536,166 $ 173,338,557 PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Equity loss of subsidiaries (5,703,582 ) (172,494,083 ) $ (24,024,916 ) Operating expenses: General and administrative 6,356,204 10,798,610 1,504,027 Research and development (934,367 ) — — Total operating expenses 5,421,837 10,798,610 1,504,027 Loss from operations (11,125,419 ) (183,292,693 ) (25,528,943 ) Other income: Interest income 54 1,918,587 267,220 Fair value changes of warrant liability — 6,851,308 954,248 Total other income, net 54 8,769,895 1,221,468 Net loss (11,125,365 ) (174,522,798 ) (24,307,475 ) Accretion to redemption value of convertible redeemable preferred shares (72,083,238 ) — — Net loss attributable to YS Biopharma (83,208,603 ) (174,522,798 ) (24,307,475 ) Net loss (11,125,365 ) (174,522,798 ) (24,307,475 ) Foreign currency translation (loss) gain (168,653,952 ) 3,165,843 440,937 Total comprehensive loss (179,779,317 ) (171,356,955 ) $ (23,866,538 ) Loss per share*: – Basic and Diluted (0.18 ) (1.88 ) $ (0.26 ) Weighted average number of ordinary shares outstanding*: – Basic and Diluted 61,785,466 93,058,197 93,058,197 * PARENT COMPANY STATEMENTS OF CASH FLOWS Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Net loss (11,125,365 ) (174,522,798 ) $ (24,307,475 ) Equity loss of subsidiaries 5,703,582 172,494,083 24,024,915 Share-based compensation (85,316 ) — — Fair value changes of warrant liability — (6,851,308 ) (954,248 ) Changes in operating assets and liabilities: Amounts due from subsidiaries (328,910,623 ) 164,996,754 22,980,689 Amounts due to subsidiaries 373,586 153,142 21,330 Prepaid expenses and other current assets — (3,467,843 ) (483,000 ) Accrued expenses and other liabilities 55,467,639 37,562,847 5,231,740 Net cash (used in) provided by operating activities (278,576,497 ) 190,364,877 26,513,951 Effect of exchange rate on cash 29,908,137 6,816,263 949,369 Net (decrease) increase in cash (248,668,360 ) 197,181,140 27,463,320 Cash at the beginning of the period 252,611,535 3,045,660 424,198 Cash at the end of the period 3,943,175 200,226,800 $ 27,887,518 Non-cash transactions: Accretion to redemption value of convertible redeemable preferred shares 72,083,238 — $ —	NOTE 22 — PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (UNAUDITED) Pursuant to the requirements of Rule 12 -04 -04 -08 -X PARENT COMPANY BALANCE SHEETS As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) ASSETS Current Assets Cash 252,611,535 3,045,660 $ 443,218 Amounts due from related parties 519,236,876 1,039,986,896 151,343,466 Total current assets 771,848,411 1,043,032,556 151,786,684 Non-current assets Long-term investments, net 146,641,652 158,734,357 23,099,722 Total non-current assets 146,641,652 158,734,357 23,099,722 Total Assets 918,490,063 1,201,766,913 $ 174,886,406 LIABILITIES AND EQUITY Current Liabilities Accrued expenses and other liabilities 244,082,464 461,105,636 $ 67,102,120 Warrants liability — 8,792,389 1,279,507 Amounts due to related parties 3,155,395 3,415,603 497,054 Total current liabilities 247,237,859 473,313,628 68,878,681 Total Liabilities 247,237,859 473,313,628 68,878,681 Mezzanine equity Series A and A-1 redeemable convertible preferred shares (par value US$0.000005 per share, 50,000,000 shares authorized; 21,548,589 shares issued and outstanding) 458,074,468 — — Series B redeemable convertible preferred shares (par value US$0.000005 per share, 100,000,000 shares authorized; 65,414,858 shares issued and outstanding) 912,146,924 — — Total mezzanine equity 1,370,221,392 — — Shareholders’ (deficit)/equity: Ordinary shares, par value US$0.00002 per share; 9,950,000,000 shares authorized; 61,827,883 and 93,058,197 shares issued and outstanding as of March 31, 2022 and 2023, respectively;* 7,978 12,297 1,790 Additional paid-in capital 808,502,018 2,656,891,036 386,642,466 Accumulated deficit (1,590,567,163 ) (1,874,037,965 ) (272,718,245 ) Accumulated other comprehensive income/(loss) 83,087,979 (54,412,083 ) (7,918,286 ) Total shareholders’ (deficit)/equity (698,969,188 ) 728,453,285 106,007,725 Total liabilities, mezzanine equity and shareholders’ (deficit)/equity 918,490,063 1,201,766,913 $ 174,886,406 * PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Years Ended March 31, 2021 2022 2023 2023 ( RMB (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Equity loss of subsidiaries (60,903,713 ) (75,864,722 ) (138,758,136 ) $ (20,192,694 ) Operating expenses: Selling and marketing 54,278 — — — General and administrative 104,562,058 29,178,255 7,630,726 1,110,456 Research and development 4,352,356 988,531 (887,280 ) (129,121 ) Total operating expenses 108,968,692 30,166,786 6,743,446 981,335 Loss from operations (169,872,405 ) (106,031,508 ) (145,501,582 ) (21,174,029 ) Other income (expenses): Financial income/(expenses) (21,953,837 ) 27,107 1,119 163 Fair value changes of warrant liability — — 21,358 3,108 Total other income/(expense), net (21,953,837 ) 27,107 22,477 3,271 Net income/(loss) (191,826,242 ) (106,004,401 ) (145,479,105 ) (21,170,758 ) Accretion to redemption value of convertible redeemable preferred shares (16,610,297 ) (130,662,326 ) (137,991,697 ) (20,081,159 ) Net loss attributable to YS Biopharma (208,436,538 ) (236,666,727 ) (283,470,802 ) (41,251,917 ) Net loss (191,826,242 ) (106,004,401 ) (145,479,105 ) (21,170,758 ) Foreign currency translation gain(loss) 22,455,217 38,864,606 (137,500,062 ) (20,009,614 ) Total comprehensive loss (169,371,025 ) (67,139,795 ) (282,979,167 ) $ (41,180,372 ) Loss per share*: – Basic and Diluted (3.10 ) (1.71 ) (1.56 ) $ (0.23 ) Weighted average number of ordinary shares outstanding*: – Basic and Diluted 61,827,883 61,827,883 93,058,197 93,058,197 * PARENT COMPANY STATEMENTS OF CASH FLOWS Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss (191,826,242 ) (106,004,401 ) (145,479,105 ) $ (21,170,758 ) Equity loss of subsidiaries 60,903,713 75,864,722 138,758,136 20,192,694 Share-based compensation 76,756,500 7,764,448 3,505,001 510,063 Fair value changes of warrant liability — — (21,358 ) (3,108 ) Changes in operating assets and liabilities: Amounts due from related parties (421,125,633 ) (23,299,705 ) (520,750,020 ) (75,781,833 ) Amounts due to related parties 2,906,881 (110,893 ) 260,208 37,867 Accrued expenses and other liabilities 77,228,629 (24,732,348 ) 48,377,785 7,040,148 Net cash used in operating activities (395,156,152 ) (70,518,177 ) (475,349,353 ) (69,174,927 ) Cash flows from investing activities: Payment for long-term investment (7,658,738 ) (813,776 ) — — Net cash used in investing activities (7,658,738 ) (813,776 ) — — Cash flows from financing activities: Proceeds from issuance of mezzanine equity 729,412,999 — — — Shareholders’ contributions 1,589,236 — — — Proceeds from acquisition — — 252,457,329 36,738,701 Offering cost (35,884,661 ) (5,222,094 ) Net cash provided by financing activities 731,002,235 — 216,572,668 31,516,607 Effect of exchange rate on cash 2,109,604 (6,353,461 ) 9,210,810 1,340,397 Net (decrease) increase in cash 330,296,949 (77,685,414 ) (249,565,875 ) (36,317,923 ) Cash at the beginning of the year — 330,296,949 252,611,535 36,761,141 Cash at the end of the year 330,296,949 252,611,535 3,045,660 $ 443,218 Non-cash transactions: Accretion to redemption value of convertible redeemable 16,610,297 130,662,326 (137,991,697 ) $ (20,081,159 ) Forgiveness from related parties 446,092,527 — — — Equity transaction from warrants — — (8,870,007 ) $ (1,290,802 ) Equity transaction from preferred shares — — 1,636,897,084 $ 238,208,461

Convertible Redeemable Preferre

Convertible Redeemable Preferred Shares	12 Months Ended
	Mar. 31, 2023
Convertible Redeemable Preferred Shares [Abstract]
CONVERTIBLE REDEEMABLE PREFERRED SHARES	NOTE 12 — CONVERTIBLE REDEEMABLE PREFERRED SHARES Before Recapitalization, YS Group had two classes of preferred shares: Series A and Series B (collectively, the “Convertible Redeemable Preferred Shares”) with Series A consists of Series A and A -1 Series A On December 10, 2012, pursuant to the Series A redeemable convertible preferred share purchase agreement and shareholders agreement (“Preferred Shares Agreements”), YS Biopharma issued 21,548,589 Series A redeemable convertible preferred shares (“Series A Preferred Share”) to Asia Ventures II L.P., and Beacon Bioventures Fund III Limited Partnership (renamed as “F -Prime -1 Series A-1 On September 4, 2020, pursuant to the share purchase agreement entered into by and among Asia Ventures II L.P., (“Asia Ventures”), F -Prime -Prime -Prime -1 Series B In January 2021, the principal amount of Convertible Notes (see Note 12) together with the accrued interest of US $20,389,315 were converted into 18,393,610 Series B Preferred Shares at US $1.1085 per share, and the convertible note holders also exercised their call option rights under the Convertible Notes and converted into 9,660,324 Series B preferred shares at US $2.0703 per share. In January 2021, YS Group raised US $88,000,000 by issuance of 36,129,245 Series B Preferred Shares to Oceanpine Investment Fund II LP, AIHC Master Fund, 3W Global Fund, MSA Growth Fund II, L.P., Epiphron Capital (Hong Kong) Limited, Wudaokou Capital Limited and Gennex China Growth Fund. In February 2021, YS Group raised US $3,000,000 by way of issuance of 1,231,679 Series B Preferred Shares to Superstring Capital Master Fund LP. On March 16, 2023, YS Biopharma closed its public offering. Thus, all the convertible redeemable preferred share were converted to ordinary shares on four -to-one The following table summarizes YS Group’s outstanding Convertible Redeemable Preferred Shares for the three years ended March 31, 2023: Series A Series A-1 Series B Total Total Shares Carrying Value Shares Carrying Value Shares Carrying Value Carrying Value Carrying Value (RMB) (RMB) (RMB) (RMB) (US$) As of March 31, 2020 21,548,589 440,585,213 — — — — 440,585,213 $ 69,403,171 Conversion of convertible notes — — — — 18,393,610 131,425,527 131,425,527 20,702,802 Call option under convertible notes — — — — 9,660,324 131,425,290 131,425,290 20,702,765 New insurance — — — — 37,360,924 597,987,709 597,987,709 94,197,995 Shares transferred (6,014,313 ) (68,232,451 ) 6,014,313 68,232,451 — — — — Accretion to redemption value — 1,758,690 — — — 14,851,607 16,610,297 2,616,536 Foreign currency translation — (29,449,559 ) — (2,567,136 ) — (558,770 ) (32,575,465 ) (5,131,449 ) As of March 31, 2021 15,534,276 344,661,893 6,014,313 65,665,315 65,414,858 875,131,363 1,285,458,571 $ 202,491,820 Accretion to redemption value — 57,598,340 — 5,164,090 — 67,899,896 130,662,326 20,582,579 Foreign currency translation — (12,696,574 ) — (2,318,596 ) — (30,884,335 ) (45,899,505 ) (7,230,318 ) As of March 31, 2022 15,534,276 389,563,659 6,014,313 68,510,809 65,414,858 912,146,924 1,370,221,392 $ 215,844,081 Accretion to redemption value 65,904,705 5,463,610 66,623,382 137,991,697 20,081,159 Foreign currency translation 34,734,369 5,866,010 77,857,300 118,457,680 795,044 Converted to ordinary shares (15,534,276 ) (490,202,733 ) (6,014,313 ) (79,840,429 ) (65,414,858 ) (1,056,627,606 ) (1,626,670,769 ) (236,720,284 ) As of March 31, 2023 — — — — — — — — Convertible Preferred Stock Rights and Preferences Conversion rights: -dilution The Preferred Shares will be automatically converted into ordinary shares upon (i) the closing of an initial public offering (IPO) based on the applicable then -effective -converted The initial conversion price and conversion ratio is the stated issuance price of the Preferred Shares and on a one -for-one -upon Voting rights: Liquidation preference: -converted Dividends: -if-converted Redemption right: • • rd -Prime -Prime -1 rd • Since the Series A, Series A -1 The mezzanine equity is carried at the higher of (1) the carrying amount after the attribution of net income of YS Group or (2) the expected redemption value. YS Group accretes for the difference between the initial carrying value and the ultimate redemption price using the effective interest rate method (17% annual compound interest for Series A, 8% annual compound interest for Series A -1 On March 16, 2023, YS Biopharma Co., Ltd. (the “Company”) issued a press release that announced the completion of its business combination with Summit Healthcare Acquisition Corp, and that the ordinary shares and warrants of the Company are to begin trading on the Nasdaq Capital Market on March 17, 2023. Thus, all the convertible redeemable preferred shares were converted to the ordinary share at par value US$0.00002 on four -to-one

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed CFS of YS Group were prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited interim condensed CFS do not include all the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of YS Group’s management, the accompanying unaudited interim condensed CFS contain all normal recurring adjustments necessary to present fairly the financial position, operating results and cash flows of YS Group for each of the periods presented. The results of operations for the six months ended September 30, 2023 are not necessarily indicative of results to be expected for any other interim periods or for the year ending March 31, 2024. These unaudited interim condensed CFS should be read in conjunction with YS Group’s audited CFS for the years ended March 31, 2023 and 2022.	Basis of Presentation These CFS and related notes of YS Group were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary to present fairly in all material respects the financial position, results of operations and cash flows for all periods presented were made.
Basis of Consolidation	Basis of Consolidation The CFS include the financial statements of YS Group and its wholly -owned	Basis of Consolidation The CFS include the financial statements of YS Group and its wholly -owned The business reorganization as described in Note 1 was treated as a recapitalization of entities under common control and the accompanying CFS of YS Group give retroactive effect to this transaction.
Use of Estimates	Use of Estimates The preparation of the CFS in conformity with U.S. 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 CFS and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in these CFS include, but are not limited to, the valuation of YS Group’s convertible redeemable preferred shares and ordinary shares, accrual of stock -based	Use of Estimates The preparation of the CFS in conformity with 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 CFS and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in these CFFS include, but are not limited to, the valuation of YS Group’s convertible redeemable preferred shares and ordinary shares, accrual of stock -based
Foreign Currency Translation	Foreign Currency Translation YS Group’s CFS are reported using the RMB. The results of operations and the consolidated statements of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital transaction. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Foreign currency translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income included in YS Group’s consolidated statements of changes in shareholders’ equity. Gains and losses from foreign currency transactions are included in YS Group’s consolidated statements of operations and comprehensive loss. The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. The following table outlines the currency exchange rates used in preparing YS Group’s CFS: Foreign currency March 31, September 30, Six Months Ended 2022 2023 Balance Sheet Balance Sheet Profit/Loss Profit/Loss RMB:1US$ 6.8717 7.1798 6.7240 7.0258 RMB:1S$ 5.1760 5.2599 4.8325 5.2180 RMB:1Peso 0.1264 0.1286 0.1217 0.1275	Foreign Currency Translation YS Group’s CFS are reported using the RMB. The results of operations and the consolidated statements of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital transaction. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Foreign currency translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income included in YS Group’s consolidated statements of changes in shareholders’ deficit. Gains and losses from foreign currency transactions are included in YS Group’s consolidated statements of operations and comprehensive loss. The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. The following table outlines the currency exchange rates used in preparing YS Group’s CFS: Foreign currency As of March 31, Years Ended March 31, 2022 2023 2021 2022 2023 Balance Sheet Balance Sheet Profit/Loss Profit/Loss Profit/Loss RMB:1US$ 6.3482 6.8717 6.8282 6.4598 6.6100 RMB:1S$ 4.6932 5.1760 4.9246 4.7850 4.9346
Convenience translation	Convenience translation Amounts in US$ are presented for the convenience of the reader and translated at US$1.00 to RMB7.1798, the central parity rate release of the People’s Bank of China on September 30, 2023. No representation is made that the RMB amounts could have been, or converted, realized or settled into US$ at such rate.	Convenience translation Amounts in US$ are presented for the convenience of the reader and translated at US$1.00 to RMB6.8717, representing the central parity rate release of the People’s Bank of China on March 31, 2023. No representation is made that the RMB amounts could have been, or converted, realized or settled into US$ at such rate.
Cash	Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks. YS Group maintains bank accounts in China. Cash balances in bank accounts in China are not insured by the Federal Deposit Insurance Corporation or other programs.	Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks. YS Group maintains bank accounts in China. Cash balances in bank accounts in China are not insured by the Federal Deposit Insurance Corporation or other programs.
Restricted Cash	Restricted Cash Restricted cash balances mainly relate to restrictions imposed on banks as cash deposits for the issuance of letters of credit. And it is included in the total cash, cash equivalents, and restricted cash in the consolidated statements of cash flows.	Restricted Cash Restricted cash balances mainly relate to restrictions imposed on banks as cash deposits for the issuance of letters of credit. And it is included in the total cash, cash equivalents, and restricted cash in the consolidated statements of cash flows.
Accounts Receivable, net	Accounts Receivable, net Accounts receivable is presented net of allowance for doubtful accounts. YS Group reduces its accounts receivable by recording a bad debt allowance to account for the estimated impact of collection issues resulting from a customer’s inability or unwillingness to pay valid obligations to YS Group. YS Group determines the adequacy of allowance for doubtful accounts based on individual account analysis, historical collection trend, and best estimate of specific losses on individual exposures. YS Group establishes an allowance for doubtful accounts when there is objective evidence that YS Group may not be able to collect amounts due. Accounts receivable balances are written off after all collection efforts have been exhausted.	Accounts Receivable, net Accounts receivable is presented net of allowance for doubtful accounts. YS Group reduces its accounts receivable by recording a bad debt allowance to account for the estimated impact of collection issues resulting from a client’s inability or unwillingness to pay valid obligations to YS Group. YS Group determines the adequacy of allowance for doubtful accounts based on individual account analysis, historical collection trend, and best estimate of specific losses on individual exposures. YS Group establishes an allowance for doubtful accounts when there is objective evidence that YS Group may not be able to collect amounts due. Accounts receivable balances are written off after all collection efforts have been exhausted.
Advance to Suppliers, net	Advance to Suppliers, net Advance to suppliers are amounts advanced to vendors or suppliers for providing raw materials to YS Group. The suppliers usually require advance payments when YS Group orders materials and the advance will be utilized to offset YS Group’s actual payment obligations. These amounts advanced are unsecured, non -interest	Advance to Suppliers, net Advance to suppliers represent amounts advanced to vendors or suppliers for providing raw materials to YS Group. The suppliers usually require advance payments when YS Group orders materials and the advance will be utilized to offset YS Group’s actual payment obligations. These amounts advanced are unsecured, non -interest nil nil
Inventories, net	Inventories, net Inventories are stated at the lower of cost or net realizable value. Cost is determined on the weighted average basis and comprises all cost of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is based on estimated selling prices less any estimated costs to be incurred to completion and disposal. YS Group reviews the carrying amounts of inventories quarterly to determine if the inventories are carried at lower of cost or net realizable value. The net realizable value is estimated based on current market conditions and historical experience. Adjustments are recorded to write down the cost of inventory based on the expiration date of raw materials and the estimate of future usage. Write -downs	Inventories, net Inventories are stated at the lower of cost or net realizable value. Cost is determined on the weighted average basis and comprises all cost of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is based on estimated selling prices less any estimated costs to be incurred to completion and disposal. YS Group reviews the carrying amounts of the inventories on a quarterly basis to determine if the inventories are carried at lower of cost or net realizable value. The net realizable value is estimated based on current market conditions and historical experience. Adjustments are recorded to write down the cost of inventory based on the expiration date of raw materials and the estimate of future usage. Write -downs
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. The cost of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, are expensed when incurred. In situations where the recognition criteria are satisfied, the expenditure for a major reconstruction is capitalized as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, YS Group recognizes such parts as individual assets with specific useful lives and depreciates them accordingly. Depreciation is calculated on the straight -line Category Estimated useful life Plant and building 6 – 20 years Machinery and equipment 5 – 10 years Furniture and fixtures 3 – 7 years Motor vehicle 4 – 5 years Leasehold improvement Lesser of the lease term or life of assets Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each quarter end. An item of property, plant and equipment including any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognized in the statement of operations in the period the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset.	Property, Plant and Equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. The cost of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, are expensed when incurred. In situations where the recognition criteria are satisfied, the expenditure for a major reconstruction is capitalized as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, YS Group recognizes such parts as individual assets with specific useful lives and depreciates them accordingly. Depreciation is calculated on the straight -line Category Estimated useful life Plant and building 6 – 20 years Machinery and equipment 5 – 10 years Furniture and fixtures 3 – 7 years Motor vehicle 4 – 5 years Leasehold improvement Lesser of the lease term or life of assets Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each quarter end. An item of property, plant and equipment including any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognized in the statement of operations in the period the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset.
Intangible assets, net	Intangible assets, net Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the FV at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and method for an intangible asset with a finite useful life is reviewed for appropriateness at each financial year end. Intangible assets with indefinite useful lives or not yet available for use are tested for impairment annually either individually or at the cash -generating Patents with definite useful lives are stated at cost less any impairment losses and are amortized on the straight -line -line An intangible asset determined to have an indefinite useful life is not amortized until its useful life is determined to be no longer indefinite. Management evaluates the remaining useful life of an intangible asset that is not amortized in each reporting period to determine whether events and circumstances continue to support an indefinite useful life. Indefinite -lived Management believes YS Group’s Drug Manufacturing License granted by the Liaoning Food and Drug Administration (“FDA”) is an intangible asset with an indefinite useful life because the certificate may be renewed indefinitely at little cost and has historically been renewed by Liaoning Yisheng. Liaoning Yisheng intends to renew the certificate indefinitely, and has the ability to do so. Cash flows from the certificate are expected to continue indefinitely. Therefore, the Drug Manufacturing License is not amortized until its estimated useful life is believed to be no longer indefinite. All research and development costs are expensed as incurred. Expenditure incurred on projects to develop new products is capitalized and deferred only when YS Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure reliably the expenditure during the development. Product development expenditures which do not meet these criteria are expensed when incurred. Land use rights: Land lease payments are amounts paid for the rights to use land in the PRC and are recorded net of accumulated amortization. Amortization is provided on a straight -line	Intangible assets, net Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the FV at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life is reviewed for appropriateness at each financial year end. Intangible assets with indefinite useful lives or not yet available for use are tested for impairment annually either individually or at the cash -generating Patents with definite useful lives are stated at cost less any impairment losses and are amortized on the straight -line -line An intangible asset that is determined to have an indefinite useful life is not amortized until its useful life is determined to be no longer indefinite. Management evaluates the remaining useful life of an intangible asset that is not being amortized in each reporting period to determine whether events and circumstances continue to support an indefinite useful life. Indefinite -lived Management believes that YS Group’s Drug Manufacturing License that was granted by the Liaoning Food and Drug Administration (“FDA”) is an intangible asset with an indefinite useful life because the certificate may be renewed indefinitely at little cost and has historically been renewed by Liaoning Yisheng. Liaoning Yisheng intends to renew the certificate indefinitely, and has the ability to do so. Cash flows from the certificate are expected to continue indefinitely. Therefore, the Drug Manufacturing License is not amortized until its estimated useful life is believed to be no longer indefinite. All R&D costs are expensed as incurred. Expenditure incurred on projects to develop new products is capitalized and deferred only when YS Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure reliably the expenditure during the development. Product development expenditures which do not meet these criteria are expensed when incurred. Land use rights: -line
Impairment of Long-lived Assets	Impairment of Long-lived Assets YS Group reviews long -lived -lived	Impairment of Long-lived Assets YS Group reviews long -lived -lived
Concentrations of Credit Risk and Significant Suppliers	Concentrations of Credit Risk and Significant Suppliers Financial instruments that potentially subject YS Group to concentration of credit risk consist of cash. YS Group mitigates this risk by maintaining its cash with high quality, accredited financial institutions. As of September 30, 2023, YS Group’s cash was deposited at more than two financial institutions and it did not have any foreign currency exchange contracts, option contracts or other hedging arrangements. YS Group has not experienced any losses on its deposits of cash and does not believe that it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. YS Group’s sales are made primarily to Centers for Disease Control and Prevention (“CDCs”) located in China. YS Group does not have a concentration of its revenue and accounts receivable with specific customers. As of September 30, 2023 and March 31, 2023, there was no customer which accounted for more than 10% of YS Group’s accounts receivable balance. During the six months ended September 30, 2023 and 2022, there were no customers that accounted for more than 10% of YS Group’s net revenues. Details of percentage of YS Group’s top five vendors accounting for total purchases are as follows: Six Months Ended September 30, 2023 (RMB) (US$) Vendor F 26,744,400 $ 3,724,951 28.8 % Vendor B 9,544,080 1,329,296 10.3 % Vendor G 5,844,185 813,976 6.3 % Vendor D 5,074,866 706,826 5.5 % Vendor H 4,799,409 668,460 5.2 % Total 52,006,940 $ 7,243,509 56.1 % Six Months Ended September 30, 2022 (RMB) (US$) Vendor A 21,661,500 $ 3,051,001 38.8 % Vendor B 10,053,600 1,416,040 18.0 % Vendor C 3,005,828 423,368 5.4 % Vendor D 2,009,315 283,010 3.6 % Vendor E 1,859,500 261,909 3.3 % Total 38,589,743 $ 5,435,328 69.1 % YS Group’s business operation has been, and may continue to be, negatively affected by the outbreak of COVID -19 -19	Concentrations of Credit Risk and Significant Suppliers Financial instruments that potentially subject YS Group to concentration of credit risk consist of cash. YS Group mitigates this risk by maintaining its cash with high quality, accredited financial institutions. As of March 31, 2023, YS Group’s cash was deposited at more than two financial institutions and it did not have any foreign currency exchange contracts, option contracts or other hedging arrangements. YS Group has not experienced any losses on its deposits of cash and does not believe that it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. YS Group’s sales are made primarily to Centers for Disease Control and Prevention (“CDCs”) located in China. YS Group does not have a concentration of its revenue and accounts receivable with specific customers. As of March 31, 2022 and 2023, there was no customers which accounted for more than 10% of YS Group’s accounts receivable balance. During the years ended March 31, 2021, 2022 and 2023, there were no customers that accounted for more than 10% of YS Group’s net revenues. Details of percentage of YS Group’s top 5 vendors accounting for total purchases are as follows: Year Ended March 31, 2023 (RMB) (US$) Vendor A 48,006,500 $ 6,986,117 37.9 % Vendor F 15,178,020 2,208,772 12.0 % Vendor G 10,053,600 1,463,044 7.9 % Vendor H 6,846,214 996,291 5.4 % Vendor C 4,746,530 690,736 3.7 % Total 84,830,864 $ 12,344,960 66.9 % Year Ended March 31, 2022 (RMB) (US$) Vendor A 35,172,250 $ 5,540,508 20.9 % Vendor B 16,227,146 2,556,181 9.6 % Vendor C 9,995,189 1,574,492 5.9 % Vendor D 7,426,500 1,169,859 4.4 % Vendor E 6,621,300 1,043,020 3.9 % Total 75,442,385 $ 11,884,060 44.7 % Year Ended March 31, 2021 (RMB) (US$) Vendor A 32,063,500 $ 4,879,324 37.9 % Vendor F 5,781,888 879,870 6.8 % Vendor G 4,862,320 739,933 5.7 % Vendor C 4,568,088 695,157 5.4 % Vendor H 3,199,200 486,844 3.8 % Total 50,474,996 $ 7,681,128 59.6 % Details of percentage of YS Group’s top 5 vendors accounting for accounts payable are as follows: As of March 31, 2023 (RMB) (US$) Vendor A 3,220,000 $ 468,589 4.0 % Vendor F 420 61 0.0 % Vendor H 16,118 2,346 0.0 % Total 3,236,538 $ 470,996 4.0 % As of March 31, 2022 (RMB) (US$) Vendor E 1,420,549 $ 223,772 4.6 % Total 1,420,549 $ 223,772 4.6 % YS Group’s business operation has been, and may continue to be, negatively affected by the outbreak of COVID -19 -19
Fair Value Measurements	Fair Value Measurements ASC 825 -10 -level • • • Unless otherwise disclosed, the FV of YS Group’s financial instruments including cash, accounts receivable, advances to suppliers, amounts due from related parties, prepaid expenses and other current assets, short -term -term -term YS Group’s non -financial	Fair Value Measurements ASC 825 -10 -level • • • Unless otherwise disclosed, the FV of YS Group’s financial instruments including cash, accounts receivable, advances to suppliers, amounts due from related parties, prepaid expenses and other current assets, short -term -term -term YS Group’s non -financial
Social Security Insurance	Social Security Insurance Employees of YS Group’s subsidiaries that operate in the PRC are required to participate in a pension scheme operated by the local municipal government. According to the Social Insurance Law of the PRC (the “Social Security Insurance Law”) promulgated by the Standing Committee of the National People’s Congress (the “Standing Committee”) that became effective on December 29, 2018, there are five basic types of social security insurance, which include: basic pension, basic medical, unemployment, work -related	Social Security Insurance Employees of YS Group’s subsidiaries that operate in the PRC are required to participate in a pension scheme operated by the local municipal government. According to the Social Insurance Law of the PRC (the “Social Security Insurance Law”) promulgated by the Standing Committee of the National People’s Congress (the “Standing Committee”) that became effective on December 29, 2018, there are five basic types of social security insurance, which include: basic pension, basic medical, unemployment, work -related
Leases	Leases Under ASC Topic 842, Leases (“ASC 842”), YS Group determines if an arrangement is or contains a lease at inception. For leases with a term of 12 months or less, YS Group does not recognize a right -of-use ROU assets represent YS Group’s right to use an underlying asset for the lease term and lease liabilities represent YS Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As YS Group’s leases typically do not provide an implicit rate, YS Group uses an estimate of its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The lease terms may include options to extend or terminate the lease when it is reasonably certain that YS Group will exercise that option. Lease expense is recognized on a straight -line	Leases Under ASC Topic 842, Leases (“ASC 842”), YS Group determines if an arrangement is or contains a lease at inception. For leases with a term of 12 months or less, YS Group does not recognize a right -of-use ROU assets represent YS Group’s right to use an underlying asset for the lease term and lease liabilities represent YS Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As YS Group’s leases typically do not provide an implicit rate, YS Group uses an estimate of its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The lease terms may include options to extend or terminate the lease when it is reasonably certain that YS Group will exercise that option. Lease expense is recognized on a straight -line
Government Grants	Government Grants Government grants are primarily subsidies received from PRC governments for operating a business in their jurisdictions and in compliance with specific policies promoted by the government authorities. YS Group’s PRC -based Government grants for research and development (“R&D”) are recognized as a reduction to R&D expenses when the conditions attached to the grants are met or recognized as government grants recognized in income in the period when the conditions are met after the expenses are incurred. Government grants for property, plant and equipment are deferred and recognized as a reduction to the related depreciation and amortization expenses in the same manner as the property, plant and equipment are depreciated.	Government Grants Government grants represent primarily subsidies received from PRC governments for operating a business in their jurisdictions and in compliance with specific policies promoted by the government authorities. YS Group’s PRC -based Government grants for R&D are recognized as a reduction to R&D expenses when the conditions attached to the grants are met or recognized as government grants recognized in income in the period when the conditions are met after the expenses are incurred. Government grants for property, plant and equipment are deferred and recognized as a reduction to the related depreciation and amortization expenses in the same manner as the property, plant and equipment are depreciated.
Warrants	Warrants YS Group accounts for warrants as either equity -method -method Upon consummation of the Business Combination, each Summit Warrant outstanding ceased to be a warrant with respect to Summit Public Shares and was assumed by YS Biopharma and converted into a YS Biopharma Warrant entitling the holder thereof to purchase such number of Ordinary Share on a one -on-one	Warrants YS Group accounts for warrants as either equity -method -method Upon the consummation of the Business Combination, each Summit Warrant outstanding immediately prior had ceased to be a warrant with respect to Summit Public Shares and was assumed by YS Biopharma and converted into a YS Biopharma Warrant entitling the holder thereof to purchase such number of Ordinary Share on a one -on-one
Revenue from Contracts with Customers	Revenue from Contracts with Customers YS Group follows ASC 606 — “Revenue from Contracts with Customers” for all periods presented. ASC 606 established principles for reporting information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from our contracts to provide services to customers. Based on the following five steps analysis, revenues from contracts with customers are recognized when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration YS Group expects to be entitled in exchange for those goods or services. Step 1: Identify the contract with the customer; Step 2: Identify the performance obligations in the contract; Step 3: Determine the transaction price; Step 4: Allocate the transaction price to the performance obligations in the contract; and Step 5: Recognize revenue when YS Group satisfies a performance obligation YS Group is principally engaged in the research, development, manufacturing and sale of vaccines and therapeutic biologics. YS Group’s revenues primarily streams from the sales of vaccines. The core principle underlying revenue recognition in ASC 606 is that YS Group recognizes revenue for the transfer of vaccines to customers in an amount that reflects the consideration to which YS Group expects to be entitled. This requires YS Group to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time. YS Group’s sales contracts of vaccines have one performance obligation that is to sell vaccines to the customers. The sales contracts with customers do not involve variable considerations, such as discounts and rebates. And according to the historical operation, circumstance of discounts and rebates have never occurred. The customer pays after acceptance of the vaccines. According to ASC 606, the relevant revenue recognition is based on customer acceptance confirmation. In accordance with ASC606 -10-55-36 -40 -added	Revenue from Contracts with Customers YS Group follows ASC 606 — “Revenue from Contracts with Customers” for all periods presented. ASC 606 established principles for reporting information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from YS Group’s contracts to provide services to customers. Based on the following five steps analysis, revenues from contracts with customers are recognized when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration YS Group expects to be entitled in exchange for those goods or services. Step 1: Step 2: Step 3: Step 4: Step 5: YS Group is principally engaged in the research, development, manufacturing and sale of vaccines and therapeutic biologics. YS Group’s revenues primarily streams from the sales of vaccines. The core principle underlying the revenue recognition ASC 606 is that YS Group recognizes revenue to represent the transfer of vaccines to customers in an amount that reflects the consideration to which YS Group expects to be entitled in such exchange. This requires YS Group to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time. YS Group’s sales contracts of vaccines have one single performance obligation that is to sell vaccines to the customers. The sales contracts with customers do not involve variable considerations, such as discounts and rebates. And according to the historical operation, circumstance of discounts and rebates have never occurred. The customer pays after acceptance of the vaccines. According to ASC 606, the relevant revenue recognition is based on a point in time of customer acceptance confirmation. In accordance with ASC606 -10-55-36 -40 -added
Cost of Revenues	Cost of Revenues Cost of revenues consists primarily of the cost of merchandise sold and write -down -moving	Cost of Revenues Cost of revenues consists primarily of the cost of merchandise sold and write -down -moving
General and Administrative Expenses	General and Administrative Expenses General and administrative expenses consist mainly of payroll and related costs for employees involved in general corporate functions, including accounting, finance, tax, legal and human resources, professional fees, and provision for bad debts, value -added	General and Administrative Expenses General and administrative expenses consist mainly of payroll and related costs for employees involved in general corporate functions, including accounting, finance, tax, legal and human resources, professional fees, and provision for bad debts, value -added
Selling and Marketing Expenses	Selling and Marketing Expenses Selling and marketing expenses consist mainly of payroll and benefits for employees involved in the sales and distribution functions, meeting/event fees, promotion fees, marketing and selling expenses that are related to events and activities at YS Group’s service centers designed to promote product sales as well as operating expenses related to the service centers.	Selling and Marketing Expenses Selling and marketing expenses consist mainly of payroll and benefits for employees involved in the sales and distribution functions, meeting/event fees, promotion fees, marketing and selling expenses that are related to events and activities at YS Group’s service centers designed to promote product sales as well as operating expenses related to the service centers.
Research and Development Expenses	Research and Development Expenses R&D expenses include costs directly attributable to the conduct of R&D projects, primarily consist of salaries and other employee benefits, testing and clinical trial expenses, consulting service fees, depreciation and amortization, and office and leasing expenses. All costs associated with R&D are expensed as incurred.	Research and Development Expenses R&D expenses include costs directly attributable to the conduct of R&D projects, primarily consist of salaries and other employee benefits, testing and clinical trial expenses, consulting service fees, depreciation and amortization, and office and leasing expenses. All costs associated with R&D are expensed as incurred.
Other Income (Expenses), net	Other Income (Expenses), net Other income (expenses) consists of miscellaneous income and expenses not directly related to YS Group’s core business operations. Other income primarily consists of recovery of previously written -off -off From December 2013 to June 2019, because YS Group was undergoing the construction and certification process of new manufacturing plant, YS Group didn’t produce and market its rabies vaccine and did not pay any income taxes nor social security insurance for its employees. It accounts for late fees as disclosed in the statements of operations.	Other Income (Expenses), net Other income (expenses) consists of miscellaneous income and expenses not directly related to YS Group’s core business operations. Other income primarily consists of recovery of previously written -off write -off From December 2013 to June 2019, because YS Group was undergoing the construction and certification process of new manufacturing plant, YS Group didn’t produce and market its rabies vaccine and did not pay any income taxes nor social security insurance for its employees. It accounts for late fees as disclosed in the statements of operations.
Income Taxes	Income Taxes Cayman Islands. Hong Kong. -sourced Singapore. China. United States. Philippines. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods, taking into consideration interpretations and practices prevailing in the countries in which YS Group operates. Deferred tax is provided, using the liability method in accordance with ASC740, Income Taxes Deferred tax liabilities are recognized for all taxable temporary differences, except: • • Deferred tax assets (“DTA”) are recognized for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. DTA are recognized to the extent it is probable that taxable profit will be available against which the deductible temporary differences, and the carryforward of unused tax credits and unused tax losses can be utilized, except: • • The carrying amount of DTA is reviewed at the end of each reporting period and reduced to the extent it is no longer probable that sufficient taxable profit will be available to allow all or part of the DTA to be utilized. DTA and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods. DTA and liabilities are offset if and only if YS Group has a legally enforceable right to set off current tax assets and current tax liabilities and the DTA and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. YS Group records a valuation allowance to offset DTA if based on the weight of available evidence, it is more -likely-than-not YS Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as non -operating	Income Taxes Cayman Islands. Hong Kong. -sourced Singapore. China. United States. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods, taking into consideration interpretations and practices prevailing in the countries in which YS Group operates. Deferred tax is provided, using the liability method in accordance with ASC740, Income Taxes Deferred tax liabilities are recognized for all taxable temporary differences, except: • • Deferred tax assets are recognized for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carryforward of unused tax credits and unused tax losses can be utilized, except: • • The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the Relevant Periods. Deferred tax assets and liabilities are offset if and only if YS Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. YS Group records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more -likely-than-not YS Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as non -operating
Value Added Tax (“VAT”)	Value Added Tax (“VAT”) Value -added	Value Added Tax (“VAT”) Value -added
Taxes other than Income Tax	Taxes other than Income Tax Under the PRC Tax Law, taxes other than income tax primarily include additional tax calculated based on value -added	Taxes other than Income Tax Under the PRC Tax Law, taxes other than income tax primarily include additional tax calculated based on value -added
Share-based Compensation	Share-based Compensation YS Group has a share option scheme to provide incentives and rewards to eligible participants. Employees (including directors) of Company receive granted shares and share options in the form of share -based -settled The cost of equity -settled -settled The cumulative expense recognized for equity -settled -market -vesting -vesting For awards that do not ultimately vest because non -market -vesting -vesting Where the terms of an equity -settled -based Where an equity -settled -vesting -settled	Share-based Compensation YS Group operates a share option scheme to provide incentives and rewards to eligible participants who contribute to the success of YS Group’s operations. Employees (including directors) of Company receive granted shares and share options in the form of share -based -settled The cost of equity -settled -settled The cumulative expense recognized for equity -settled -market -vesting -vesting For awards that do not ultimately vest because non -market -vesting -vesting Where the terms of an equity -settled -based Where an equity -settled -vesting -settled
Comprehensive Loss	Comprehensive Loss Comprehensive loss consists of two components, net loss and other comprehensive income (loss). Other comprehensive income (loss) consists of foreign currency translation adjustment from YS Group not using RMB as its functional currency.	Comprehensive Loss Comprehensive loss consists of two components, net loss and other comprehensive income (loss). Other comprehensive income (loss) consists of foreign currency translation adjustment from YS Group not using RMB as its functional currency.
Loss Per Share	Loss Per Share In accordance with ASC 260, Earnings Per Share, basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. 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 shares plus dilutive equivalent shares outstanding during the period. Dilutive equivalent shares are excluded from the computation of diluted loss per share if their effects would be anti -dilutive	Loss Per Share In accordance with ASC 260, Earnings Per Share, basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. 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 shares plus dilutive equivalent shares outstanding during the period. Dilutive equivalent shares are excluded from the computation of diluted loss per share if their effects would be anti -dilutive
Segment Reporting	Segment Reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with YS Group’s internal organizational structure as well as information about geographical areas, business segments and major customers in the CFS for details on YS Group’s business segments. YS Group uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by YS Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. YS Group’s CODM has been identified as the CEO, who reviews consolidated results when making decisions about allocating resources and assessing performance of YS Group. Based on management’s assessment, YS Group has one operating segment, which is the development, production, marketing and sale of biopharmaceutical products. No operating segments were aggregated to form the reportable operating segment.	Segment Reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with YS Group’s internal organizational structure as well as information about geographical areas, business segments and major customers in the CFS for details on YS Group’s business segments. YS Group uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by YS Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. YS Group’s CODM has been identified as the CEO, who reviews consolidated results when making decisions about allocating resources and assessing performance of YS Group. Based on management’s assessment, YS Group has only one operating segment, which is the development, production, marketing and sale of biopharmaceutical products. No operating segments were aggregated to form the reportable operating segment.
Significant Risks	Significant Risks Currency risk A majority of YS Group’s expenses are denominated in RMB and a significant portion of YS Group and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by YS Group in China must be processed through the PBOC or other Company foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance. YS Group maintains bank accounts in the PRC. On May 1, 2015, China’s new Deposit Insurance Regulation came into effect, pursuant to which banking financial institutions, such as commercial banks, established in the PRC are required to purchase deposit insurance for deposits in RMB and in foreign currency placed with them. Such Deposit Insurance Regulation would not be effective in providing complete protection for YS Group’s accounts, as its aggregate deposits are higher than the compensation limit, which is RMB500,000(approximately $70,000) for one bank. However, YS Group believes the risk of failure of any of these Chinese banks is remote. Bank failure is uncommon in the PRC and YS Group believes that those Chinese banks that hold YS Group’s cash are financially sound based on public available information. Concentration and political risk Currently, YS Group involves significant operations in the PRC. Accordingly, YS Group’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. YS Group’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. YS Group’s results may be adversely affected by changes in governmental policies in laws and regulations, anti -inflationary Interest rate risk Fluctuations in interest rates may negatively affect YS Group’s financial condition and results of operations. YS Group is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. YS Group has not used any derivative financial instruments to manage YS Group’s interest risk exposure.	Significant Risks Currency risk A majority of YS Group’s expenses are denominated in RMB and a significant portion of YS Group and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by YS Group in China must be processed through the PBOC or other Company foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance. YS Group maintains bank accounts in the PRC. On May 1, 2015, China’s new Deposit Insurance Regulation came into effect, pursuant to which banking financial institutions, such as commercial banks, established in the PRC are required to purchase deposit insurance for deposits in RMB and in foreign currency placed with them. Such Deposit Insurance Regulation would not be effective in providing complete protection for YS Group’s accounts, as its aggregate deposits are higher than the compensation limit, which is RMB500,000 for one bank. However, YS Group believes the risk of failure of any of these Chinese banks is remote. Bank failure is uncommon in the PRC and YS Group believes that those Chinese banks that hold YS Group’s cash are financially sound based on public available information. Concentration and political risk Currently, YS Group involves significant operation carried out in the PRC. Accordingly, YS Group’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. YS Group’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. YS Group’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti -inflationary Interest rate risk Fluctuations in market interest rates may negatively affect YS Group’s financial condition and results of operations. YS Group is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. YS Group has not used any derivative financial instruments to manage YS Group’s interest risk exposure.
Related Parties	Related Parties A party is considered related to YS Group if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with YS Group. Related parties also include principal owners of YS Group, its management, members of the immediate families of principal owners of YS Group and its management and other parties with which YS Group may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party.	Related Parties A party is considered to be related to YS Group if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with YS Group. Related parties also include principal owners of YS Group, its management, members of the immediate families of principal owners of YS Group and its management and other parties with which YS Group may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016- -issuers -05 -effect In December 2019, the FASB issued ASU 2019- YS Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on YS Group’s CFS.	Recently Issued Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016 -13 -issuers -05 -effect -10 -13 In December 2019, the FASB issued ASU 2019 -12 YS Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on YS Group’s consolidated financial position, statements of Income and comprehensive income and cash flows.
Convertible Redeemable Preferred Shares		Convertible Redeemable Preferred Shares YS Group has two classes of preferred shares: Series A and Series B and Series A consists of Series A and Series A -1 Since the Series A, Series A -1 The mezzanine equity is carried at the higher of (1) the carrying amount after the attribution of net income of YS Group or (2) the expected redemption value. YS Group accretes the difference between the initial carrying value and the ultimate redemption price using the effective interest rate method from the issuance dates to the earliest possible redemption date. Upon the completion of YS Group’s business combination on March 16, 2023, all the outstanding Convertible Redeemable Preferred Shares were converted into Ordinary Shares. No mezzanine equity was recognized as of March 31, 2023.
Shareholders’ Contribution		Shareholders’ Contribution Main sources of shareholders’ contribution include debt forgiveness from related parties, cash donations from shareholders and offering. YS Group recorded the forgiveness and donations as an increase in additional paid -in

Organization and Business Des_2

Organization and Business Description (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Organization and Business Description [Abstract]
Schedule of Ys Group's Current Legal Entity	As of September 30, 2023, YS Group consists of the following legal entities: Legal Entity Nature of Operations Date of Place of YS Biopharma Co., Ltd. Holding Company November 16, Cayman Islands YishengBio (Hong Kong) Holdings Limited Holding Company December 28, Hong Kong Yisheng Biopharma (Singapore) Pte. Ltd. Research and development of vaccines and therapeutic biologics November 28, Singapore Yisheng US Biopharma Inc. Research of vaccines and therapeutic biologics September 29, US Liaoning Yisheng Biopharma Co., Ltd. Research and development, manufacturing and commercialization of vaccines and therapeutic biologics May 26, PRC Beijing Yisheng Biotechnology Co., Ltd. Research and development of vaccines and therapeutic biologics February 4, PRC Hudson Biomedical Group Co., Ltd. Purpose of effecting a merger August 15, Cayman Islands YS Biopharma (Philippines) Inc. Researching, developing, producing, wholesaling and commercializing pharmaceutical products May 9, Philippines * ** ***	As of March 31, 2023, YS Group consists of the following legal entities: Legal Entity Nature of Operations Date of Place of YS Biopharma Co., Ltd. Holding Company November 16, Cayman Islands YishengBio (Hong Kong) Holdings Limited (“HK Yisheng”) Holding Company December 28, Hong Kong Yisheng Biopharma (Singapore) Pte. Ltd. (“Singapore Yisheng”)** Research and development of vaccines and therapeutic biologics November 28, Singapore Yisheng US Biopharma Inc. Research of vaccines and therapeutic biologics September 29, 2009 US Liaoning Yisheng Biopharma Co., Ltd. Research and development, manufacturing and commercialization of vaccines and therapeutic biologics May 26, PRC Beijing Yisheng Biotechnology Co., Ltd. Research and development of vaccines and therapeutic biologics February 4, PRC Hudson Biomedical Group Co., Ltd. Purpose of effecting a merger August 15, Cayman Islands

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Accounting Policies [Abstract]
Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS	The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. The following table outlines the currency exchange rates used in preparing YS Group’s CFS: Foreign currency March 31, September 30, Six Months Ended 2022 2023 Balance Sheet Balance Sheet Profit/Loss Profit/Loss RMB:1US$ 6.8717 7.1798 6.7240 7.0258 RMB:1S$ 5.1760 5.2599 4.8325 5.2180 RMB:1Peso 0.1264 0.1286 0.1217 0.1275	The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. The following table outlines the currency exchange rates used in preparing YS Group’s CFS: Foreign currency As of March 31, Years Ended March 31, 2022 2023 2021 2022 2023 Balance Sheet Balance Sheet Profit/Loss Profit/Loss Profit/Loss RMB:1US$ 6.3482 6.8717 6.8282 6.4598 6.6100 RMB:1S$ 4.6932 5.1760 4.9246 4.7850 4.9346
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life	Depreciation is calculated on the straight -line Category Estimated useful life Plant and building 6 – 20 years Machinery and equipment 5 – 10 years Furniture and fixtures 3 – 7 years Motor vehicle 4 – 5 years Leasehold improvement Lesser of the lease term or life of assets	Depreciation is calculated on the straight -line Category Estimated useful life Plant and building 6 – 20 years Machinery and equipment 5 – 10 years Furniture and fixtures 3 – 7 years Motor vehicle 4 – 5 years Leasehold improvement Lesser of the lease term or life of assets
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases	Details of percentage of YS Group’s top five vendors accounting for total purchases are as follows: Six Months Ended September 30, 2023 (RMB) (US$) Vendor F 26,744,400 $ 3,724,951 28.8 % Vendor B 9,544,080 1,329,296 10.3 % Vendor G 5,844,185 813,976 6.3 % Vendor D 5,074,866 706,826 5.5 % Vendor H 4,799,409 668,460 5.2 % Total 52,006,940 $ 7,243,509 56.1 % Six Months Ended September 30, 2022 (RMB) (US$) Vendor A 21,661,500 $ 3,051,001 38.8 % Vendor B 10,053,600 1,416,040 18.0 % Vendor C 3,005,828 423,368 5.4 % Vendor D 2,009,315 283,010 3.6 % Vendor E 1,859,500 261,909 3.3 % Total 38,589,743 $ 5,435,328 69.1 %	Details of percentage of YS Group’s top 5 vendors accounting for total purchases are as follows: Year Ended March 31, 2023 (RMB) (US$) Vendor A 48,006,500 $ 6,986,117 37.9 % Vendor F 15,178,020 2,208,772 12.0 % Vendor G 10,053,600 1,463,044 7.9 % Vendor H 6,846,214 996,291 5.4 % Vendor C 4,746,530 690,736 3.7 % Total 84,830,864 $ 12,344,960 66.9 % Year Ended March 31, 2022 (RMB) (US$) Vendor A 35,172,250 $ 5,540,508 20.9 % Vendor B 16,227,146 2,556,181 9.6 % Vendor C 9,995,189 1,574,492 5.9 % Vendor D 7,426,500 1,169,859 4.4 % Vendor E 6,621,300 1,043,020 3.9 % Total 75,442,385 $ 11,884,060 44.7 % Year Ended March 31, 2021 (RMB) (US$) Vendor A 32,063,500 $ 4,879,324 37.9 % Vendor F 5,781,888 879,870 6.8 % Vendor G 4,862,320 739,933 5.7 % Vendor C 4,568,088 695,157 5.4 % Vendor H 3,199,200 486,844 3.8 % Total 50,474,996 $ 7,681,128 59.6 %
Schedule of Percentage of YS Group’s Top 5 Vendors Accounting for Accounts Payable		Details of percentage of YS Group’s top 5 vendors accounting for accounts payable are as follows: As of March 31, 2023 (RMB) (US$) Vendor A 3,220,000 $ 468,589 4.0 % Vendor F 420 61 0.0 % Vendor H 16,118 2,346 0.0 % Total 3,236,538 $ 470,996 4.0 % As of March 31, 2022 (RMB) (US$) Vendor E 1,420,549 $ 223,772 4.6 % Total 1,420,549 $ 223,772 4.6 %

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Accounts Receivable, Net [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net are as follows: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Trade receivables 487,418,616 459,077,454 $ 63,940,145 Allowance for doubtful accounts (24,366,824 ) (29,708,520 ) (4,137,792 ) Accounts receivable, net 463,051,792 429,368,934 $ 59,802,353	ACCOUNTS RECEIVABLE, NET As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Trade receivables 322,170,980 487,418,616 $ 70,931,300 Allowance for doubtful accounts (13,615,875 ) (24,366,824 ) (3,545,967 ) Accounts receivable, net 308,555,105 463,051,792 $ 67,385,333
Schedule of Allowance for Doubtful Accounts	Below is an analysis of the movements in the allowance for doubtful accounts: Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the period (audited) 13,615,875 24,366,824 $ 3,393,802 Additions (unaudited) 6,447,110 5,341,696 743,990 Balance at end of the period (unaudited) 20,062,985 29,708,520 $ 4,137,792	Below is an analysis of the movements in the allowance for doubtful accounts Year Ended March 31, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the year 8,530,951 13,615,875 $ 1,981,442 Additions 5,084,924 10,750,949 1,564,525 Balance at end of the year 13,615,875 24,366,824 $ 3,545,967

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Inventories, Net [Abstract]
Schedule of Inventories	YS Group’s inventories consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Raw materials 50,453,180 63,425,030 $ 8,833,816 Work in progress 61,275,177 40,767,989 5,678,151 Finished goods (1) 78,432,041 118,253,022 16,470,239 Allowance for slow-moving or obsolete inventories (4,779,446 ) (9,625,670 ) (1,340,660 ) Inventories, net 185,380,952 212,820,371 $ 29,641,546 (1)	YS Group’s inventories consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Raw materials 57,926,980 50,453,180 $ 7,342,169 Work in progress 40,795,744 61,275,177 8,917,033 Finished goods 73,285,870 78,432,041 11,413,775 Allowance for slow-moving or obsolete inventories (5,503,029 ) (4,779,446 ) (695,526 ) Inventories, net 166,505,565 185,380,952 $ 26,977,451
Schedule of Movements in the Allowance for Slow-Moving or Obsolete Inventories	The movements in the allowance for slow -moving Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the period (audited) 5,503,029 4,779,446 $ 665,679 Additions (unaudited) — 10,678,694 1,487,325 Inventories written off (unaudited) (4,393,629 ) (5,832,470 ) (812,344 ) Balance at end of the period 1,109,400 9,625,670 $ 1,340,660	The movements in the allowance for slow -moving Year Ended March 31, 2022 2023 2023 (RMB) (RMB) (US$) Balance at beginning of the year 41,301,797 5,503,029 $ 800,825 Additions 4,393,629 3,670,046 534,081 Inventories written off (40,192,397 ) (4,393,629 ) (639,380 ) Balance at end of the year 5,503,029 4,779,446 $ 695,526

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Property, Plant and Equipment, Net [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consists of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Cost Construction in progress 309,948,621 274,132,838 $ 38,181,125 Plant and buildings 178,756,490 216,039,542 30,089,911 Machinery and equipment 237,637,928 241,771,870 33,673,900 Electronic equipment 11,117,440 11,314,439 1,575,871 Motor vehicles 3,031,087 3,252,678 453,032 Office equipment and furniture 34,423,995 38,522,520 5,365,403 Leasehold improvements 5,597,019 1,933,197 269,255 Total Cost 780,512,580 786,967,084 109,608,497 Less: accumulated depreciation (178,864,241 ) (195,396,698 ) (27,214,783 ) Less: asset impairment (29,891,896 ) (29,891,896 ) (4,163,333 ) Property and equipment, net 571,756,443 561,678,490 $ 78,230,381	Property, plant and equipment consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Cost Construction in progress 318,000,074 309,948,621 $ 45,105,086 Plant and buildings 170,206,987 178,756,490 26,013,430 Machinery and equipment 194,875,303 237,637,928 34,582,116 Electronic equipment 10,107,578 11,117,440 1,617,859 Motor vehicles 2,978,155 3,031,087 441,097 Office equipment and furniture 29,888,526 34,423,995 5,009,531 Leasehold improvements 4,390,980 5,597,019 814,503 Total Cost 730,447,603 780,512,580 113,583,622 Less: accumulated depreciation (150,402,597 ) (178,864,241 ) (26,029,112 ) Less: asset impairment (29,891,896 ) (29,891,896 ) (4,349,998 ) Property and equipment, net 550,153,110 571,756,443 $ 83,204,512

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets, Net (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Prepaid Expenses and Other Current Assets, Net [Abstract]
Schedule of Prepaid Expenses and Other Current Assets, Net	Prepaid expenses and other current assets, net consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Deposits (1) 4,339,791 4,204,925 $ 585,660 Staff advances (2) 606,859 283,299 39,458 Staff’s social security (3) 252,090 242,753 33,811 Value added tax recoverable (4) 4,249,718 1,665,748 232,005 Clinical trial insurance (5) 178,699 — — Prepaid expense (8) — 3,467,843 483,000 Other receivable (6) 901,355 1,592,850 221,851 Allowance (7) (115,743 ) (115,743 ) (16,121 ) Total 10,412,769 11,341,675 $ 1,579,664 (1) -level (2) (3) (4) -added (5) -19 -19 (6) (7) (8)	Prepaid expenses and other current asset, net consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Deposits (1) 2,807,847 4,339,791 $ 631,545 Staff advances (2) 383,251 606,859 88,313 Staff’s social security (3) 615,581 252,090 36,685 Value added tax recoverable (4) 3,442,733 4,249,718 618,438 Clinical trial insurance (5) — 178,699 26,005 Other receivable (6) 854,245 901,355 131,169 Allowance (7) (115,743 ) (115,743 ) (16,843 ) Total 7,987,914 10,412,769 $ 1,515,312 (1) -level (2) (3) (4) -added (5) -19 -19 (6) (7)

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Intangible Assets, Net [Abstract]
Schedule of Intangible Assets	YS Group’s intangible assets are presented below: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Cost Patents 79,608,000 79,608,000 $ 11,087,774 Licenses, software and laboratory information system 10,435,478 10,435,478 1,453,450 Land use rights 67,181,860 67,181,860 9,357,066 Total Cost 157,225,338 157,225,338 21,898,290 Less: Accumulated Amortization (79,168,546 ) (82,586,982 ) (11,502,686 ) Intangible Assets, net 78,056,792 74,638,356 $ 10,395,604	YS Group’s intangible assets are presented below: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Cost Patents 79,608,000 79,608,000 $ 11,584,906 Licenses, software and laboratory information system 6,143,880 10,435,478 1,518,617 Land use rights 67,181,860 67,181,860 9,776,600 Total Cost 152,933,740 157,225,338 22,880,123 Less: Accumulated Amortization (72,215,762 ) (79,168,546 ) (11,520,955 ) Intangible Assets, net 80,717,978 78,056,792 $ 11,359,168

Bank Loans and Other Borrowin_2

Bank Loans and Other Borrowings (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Bank Loans and Other Borrowings [Abstract]
Schedule of Bank Loans and Other Borrowings	Bank loans and other borrowings are as follows: March 31, September 30, September 30, Maturity Interest (RMB) (RMB) (US$) (Unaudited) (Unaudited) China Guangfa Bank Co., Ltd. – Shenyang Branch (1) 41,191,031 45,351,601 $ 6,316,555 2023/12/16 – 5.66 % Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch (2) 82,964,518 — — 2023/6/29 – 5.30 % China CITIC Bank Shenyang Tiexi Branch (4) 23,596,350 36,424,414 5,073,179 2023/10/13 – 5.00 % China CITIC Bank Shenyang Tiexi Branch (5) 5,000,000 — — 2023/5/25 – 3.25 % China CITIC Bank Shenyang Tiexi Branch (6) — 3,550,600 494,526 2024/5/29 4.75 % China Construction Bank Shenyang Heping Branch (7) 31,330,000 33,160,000 4,618,513 2023/11/21 – 4.00 % China Construction Bank Shenyang Heping Branch (8) 988,000 1,700,400 236,831 2024/1/12 – 3.90 % Zhongguancun Technology Leasing Co., Ltd (10) 8,666,664 8,666,664 1,207,090 2025/11/7 5.00 % CITIC Financial Leasing Co., Ltd (11) — 12,825,276 1,786,300 2026/5/29 4.80 % Minsheng Bank Shenyang Huanghe Street Branch (12) — 11,286,310 1,571,953 2024/7/7 – 4.00 % Industrial Bank Shenyang Branch (14) — 29,776,670 4,147,285 2024/8/15 – 4.00 % Bank loans due within one year 193,736,563 182,741,935 25,452,232 R-Bridge Healthcare Fund, LP (3) 274,868,000 287,192,000 40,000,000 2026/9/15 4.00 % China Construction Bank Shenyang Heping Branch (9) 4,430,000 14,720,000 2,050,196 2024/9/16 – 4.00 % Zhongguancun Technology Leasing Co., Ltd (10) 14,492,596 10,111,116 1,408,273 2025/11/7 5.00 % CITIC Financial Leasing Co., Ltd (11) — 23,993,182 3,341,762 2026/5/29 4.80 % Industrial Bank Shenyang Branch (13) — 19,993,041 2,784,624 2026/7/31 – 4.25 % Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch (15) — 5,955,734 829,512 2024/3/21 – 4.00 % Long-term bank loans 293,790,596 361,965,073 50,414,367 Total bank loans 487,527,159 544,707,008 $ 75,866,599 (1) three (2) three (3) -Bridge (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) three (14) (15)	As of March 31, Maturity Interest 2022 2023 2023 (RMB) (RMB) (US$) China Guangfa Bank Co., Ltd. – Shenyang Branch (1) 46,456,142 41,191,031 $ 5,994,300 2023/10/13 – 5.66 % Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch (2) 64,647,870 82,964,518 12,073,361 2023/6/29 – 5.30 % Citi Bank (3) 234,743 — — 2022/5/1 1.00 % R-Bridge Healthcare Fund, LP (4) 394,999 — — 2026/9/15 4.00 % China CITIC Bank Shenyang Tiexi Branch (5) — 23,596,350 3,433,845 2023/10/13 – 5.00 % China CITIC Bank Shenyang Tiexi Branch (6) — 5,000,000 727,622 2023/5/25 – 3.25 % China Construction Bank Shenyang Heping Branch (7) — 31,330,000 4,559,279 2023/9/8 – 4.00 % China Construction Bank Shenyang Heping Branch (8) — 988,000 143,778 2024/1/12 3.90 % Zhongguancun Technology Leasing Co., Ltd (10) — 8,666,664 1,261,212 2025/11/7 5.00 % Bank loans due within one year 111,733,754 193,736,563 $ 28,193,397 R-Bridge Healthcare Fund, LP (4) 253,928,000 274,868,000 40,000,000 2026/9/15 4.00 % China Construction Bank Shenyang Heping Branch (9) — 4,430,000 644,673 2024/9/16 4.00 % Zhongguancun Technology Leasing Co., Ltd (10) 14,492,596 2,109,026 2025/11/7 5.00 % Long-term bank loans 253,928,000 293,790,596 $ 42,753,699 Total bank loans 365,661,754 487,527,159 $ 70,947,096 (1) three (2) three (3) (4) -Bridge (5) (6) (7) (8) (9) (10)
Schedule of Aggregate Outstanding Principal Amount	YS Group shall repay the loan in instalments by repaying on each Repayment Date which means the fifth business day after each financial quarter date an amount equal to the relevant percentage of the aggregate outstanding principal amount of the loan as at the end of the Availability Period as set out in the table below: Repayment Date Repayment April 7, 2025 6,400,000 July 7, 2025 6,400,000 October 7, 2025 6,400,000 January 7, 2026 6,400,000 April 7, 2026 6,400,000 July 7, 2026 8,000,000 Total 40,000,000	YS Group shall repay the loan in instalments by repaying on each Repayment Date which means the fifth business day after each financial quarter date an amount equal to the relevant percentage of the aggregate outstanding principal amount of the loan as at the end of the Availability Period as set out in the table below: Repayment Date Repayment Instalment April 7, 2025 6,400,000 July 7, 2025 6,400,000 October 7, 2025 6,400,000 January 7, 2026 6,400,000 April 7, 2026 6,400,000 July 7, 2026 8,000,000 Total 40,000,000

Leases (Tables)

Leases (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Leases [Abstract]
Schedule of Operating Leases	A summary of YS Group’s operating leases as of March 31, 2023 and September 30, 2023 are as follows: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Operating lease ROU assets 11,132,428 9,607,109 $ 1,338,075 Operating lease liabilities – current 4,753,547 5,027,649 $ 700,249 Operating lease liabilities – non-current 6,348,890 4,462,505 $ 621,536 Weighted average remaining lease term 2.5 2.0 2.0 Weighted average discount rate 4.7 % 4.9 % 4.9 %	A summary of YS Group’s operating leases as of March 31, 2022 and 2023 is as follows: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Operating lease ROU assets 14,850,283 11,132,428 $ 1,620,040 Operating lease liabilities – current 4,322,252 4,753,547 $ 691,757 Operating lease liabilities – non-current 10,605,260 6,348,890 $ 923,918 Weighted average remaining lease term 3.4 2.5 2.5 Weighted average discount rate 4.8 % 4.7 % 4.7 %
Schedule of Lease Cost Recognized Supplemental Cash Flow Information Related to Operating Leases	A summary of lease cost recognized in YS Group’s CFS and supplemental cash flow information for operating leases is as follows: Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Operating lease cost 2,508,388 2,711,527 $ 377,661 Cash paid for operating leases 786,888 2,822,023 $ 393,050	A summary of lease cost recognized in YS Group’s CFS and supplemental cash flow information related to operating leases is as follows: Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) Operating lease cost 2,643,917 4,594,967 5,002,684 $ 728,013 Cash paid for operating leases 2,601,625 4,587,894 3,349,856 $ 487,486
Schedule of Maturity of Operating Lease Liabilities under the Non-cancelable Operating Leases	A summary of maturity of operating lease liabilities under the YS Group’s non -cancelable 12 months Ending September 30, As of September 30, 2023 (RMB) (US$) 2024 5,332,992 $ 742,777 2025 4,275,341 595,468 2026 357,806 49,835 Total lease payments 9,966,139 1,388,080 Less: Interest (475,985 ) (66,295 ) Present value of operating lease liabilities 9,490,154 $ 1,321,785	A summary of maturity of operating lease liabilities under YS Group’s non -cancelable Year Ended March 31, (RMB) (US$) 2024 5,178,993 $ 753,670 2025 5,040,835 733,564 2026 1,526,270 222,110 Total lease payments 11,746,098 1,709,344 Less: Interest (643,661 ) (93,669 ) Present value of operating lease liabilities 11,102,437 $ 1,615,675

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Accrued Expenses and Other Current Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited (Unaudited) Salaries and social security insurance payable (1) 55,188,497 55,003,111 $ 7,660,814 Promotion service fee (2) 87,567,459 110,977,249 15,456,872 Taxes other than income tax 379,595 — — Late fees (3) 9,927,056 10,219,206 1,423,327 Payable for property, plant and equipment 47,579,463 30,549,960 4,254,988 CDC transportation and storage fee 49,976,200 45,314,910 6,311,445 Guarantee deposits (4) 108,795,884 121,848,973 16,971,082 Professional service fees (5) 5,121,970 2,290,725 319,051 Interest payable (6) 6,055,245 4,652,964 648,063 Other (7) 6,945,275 7,214,894 1,004,888 Total 377,536,644 388,071,992 $ 54,050,530 (1) (2) (3) (4) (5) (6) -Bridge (7)	Accrued expenses and other current liabilities consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Salaries and social security insurance payable (1) 57,459,273 55,188,497 $ 8,031,273 Promotion service fee (2) 64,883,477 87,567,459 12,743,202 Taxes other than income tax 1,171,381 379,595 55,240 Late fees (3) 9,499,595 9,927,056 1,444,629 Payable for property, plant and equipment 48,774,134 47,579,463 6,923,973 CDC transportation and storage fee 35,023,095 49,976,200 7,272,756 Guarantee deposits (4) 94,528,659 108,795,884 15,832,455 Professional service fee (5) 7,758,448 5,121,970 745,372 Interest payable (6) — 6,055,245 881,186 Other payable (7) 7,653,291 6,945,275 1,010,707 Total 326,751,353 377,536,644 $ 54,940,793 (1) (2) (3) (4) (5) (6) -Bridge (7)
Schedule of Salaries and Social Security Insurance Payables	Salaries and social security insurance payables consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Salaries 47,390,831 47,586,649 $ 6,627,852 Social security insurance 7,179,828 6,808,494 948,285 Union Fee 617,838 607,968 84,677 Total 55,188,497 55,003,111 $ 7,660,814	Salaries and social security insurance payables consist of the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Salaries 49,020,045 47,390,831 $ 6,896,522 Social security insurance 7,732,161 7,179,828 1,044,840 Union Fee 707,067 617,838 89,911 Total 57,459,273 55,188,497 $ 8,031,273

Warrants (Tables)

Warrants (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Warrants [Abstract]
Schedule of Private Warrants	The Binomial Option Pricing Model with the following key assumptions is used for estimating the FV of private warrants. As of Fair value of the underlying asset as of the Valuation Date 0.8 Strike price 11.5 Life to expiration (Years.) 4.5 Volatility 67.0 % Number of steps 100 Redemption price (per share) 0.1	The Binomial Option Pricing Model with the following key assumptions is used for estimating the FV of private warrants. As of Fair value of the underlying asset as of the Valuation Date 1.6 Strike price 11.5 Life to expiration (Years.) 4.9 Volatility 62.9 % Number of steps 100 Redemption price (per share) 0.1
Schedule of Warrant Liabilities	The table below reflects the movement of warrant liabilities for the six months ended September 30, 2023: April 1, Additions Change in Foreign September 30, September 30, (RMB) (RMB) (RMB) (RMB) (RMB) (US$) Private Warrants 8,792,389 — (6,851,308 ) 244,041 2,185,122 $ 304,343 Total 8,792,389 — (6,851,308 ) 244,041 2,185,122 $ 304,343	The table below reflects the movement of warrant liabilities for the year ended March 31, 2023: April 1, Additions Change in Foreign March 31, March 31, (RMB) (RMB) (RMB) (RMB) (RMB) (US$) Private Warrants — 8,814,592 (21,358 ) (845 ) 8,792,389 $ 1,279,507 Total — 8,814,592 (21,358 ) (845 ) 8,792,389 $ 1,279,507

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Stock-Based Compensation [Abstract]
Schedule of Exercise Prices and Exercise Periods, Giving Retroactive Effect of Combination	The exercise prices and exercise periods, giving retroactive effect of combination in March 2023, of the share options outstanding as at the end of each of the Relevant Periods are as follows: Number of Average option (RMB) As of March 31, 2022 3,253,565 29.3156 Granted during the period — — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of March 31, 2023 3,253,565 32.4020 Granted during the period — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of September 30, 2023 3,253,565 32.4020	The exercise prices and exercise periods, giving retroactive effect of combination in March 2023, of the share options outstanding as at the end of each of the Relevant Periods are as follows: Number of Average option (RMB) As of March 31, 2021 3,253,565 29.3156 Granted during the period — — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of March 31, 2022 3,253,565 29.3156 Granted during the period — Forfeited during the period — — Exercised during the period — — Expired during the period — — As of March 31, 2023 3,253,565 32.4020
Schedule of Exercise Prices and Exercise Periods of the Share Options Outstanding	The exercise prices and exercise periods of the share options outstanding as at the end of the reporting periods are as follows: Six Months Ended September 30, 2023 Exercise price Exercise period (RMB) 1,533,252 13.938 2021 – 2031 613,369 25.8524 2021 – 2026 1,106,944 52.5376 2021 – 2026 3,253,565	The exercise prices and exercise periods, giving retroactive effect of combination in March 2023, of the share options outstanding as at the end of the reporting periods are as follows: Year Ended 31 March 2023 Exercise price Exercise period (RMB) 1,533,252 13.938 2021 – 2031 613,369 25.8524 2021 – 2026 1,106,944 52.5376 2021 – 2026 3,253,565
Schedule of Stock-Based Compensation Expense	Stock -based Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Research and development (1,015,055 ) — $ — General and administrative 929,739 — — Total stock-based compensation (85,316 ) — $ —	Stock -based Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) Research and development 4,200,464 975,171 (997,846 ) $ (145,211 ) General and administrative 72,501,943 6,789,277 4,502,847 655,274 Selling and marketing 54,093 — — — Total stock-based compensation 76,756,500 7,764,448 3,505,001 $ 510,063

Related Party Transactions an_2

Related Party Transactions and Balances (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Related Party Transactions and Balances [Abstract]
Schedule of Companies are Related Parties	The following companies are related parties that had balances or transactions with YS Group as of and during the six months ended September 30, 2023 and 2022: Name of related parties Relationship with YS Group Yisheng Biopharma Co., Ltd An entity controlled by Yi Zhang Yisheng Biopharma Holdings Ltd. An entity controlled by Yi Zhang Kaifeng Yisheng Pan-Asia Technology Co., Ltd An entity controlled by Yi Zhang Beijing Yisheng Xingye Technology Co., Ltd. An entity controlled by Yi Zhang Changchun Bailong Biotechnology Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Huizhong Health Services Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Biopharma Co., Ltd. An entity controlled by Yi Zhang Beijing Huaerdun Kangqi Biotechnology Co., Ltd. An entity controlled by Yi Zhang Name of related parties Relationship with YS Group Liaoning Yisheng Pan-Asia An entity controlled by Yi Zhang Yi Zhang* Chairman of Board of Directors Hui Shao Chief Executive Officer Nan Zhang Daughter of the Chairman Xu Zhang Daughter of the Chairman Rui Mi Spouse of the Chairman * -month	The following companies are related parties that had balances or transactions with YS Group as of and during the fiscal years ended March 31, 2021, 2022 and 2023: Name of related parties Relationship with YS Group Yisheng Biopharma Co., Ltd An entity controlled by Yi Zhang Yisheng Biopharma Holdings Ltd. An entity controlled by Yi Zhang Kaifeng Yisheng Pan-Asia Technology Co., Ltd An entity controlled by Yi Zhang Beijing Yisheng Xingye Technology Co., Ltd. An entity controlled by Yi Zhang Changchun Bailong Biotechnology Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Huizhong Health Services Co., Ltd. An entity controlled by Yi Zhang Henan Yisheng Biopharma Co., Ltd. An entity controlled by Yi Zhang Beijing Huaerdun Kangqi Biotechnology Co., Ltd. An entity controlled by Yi Zhang Liaoning Yisheng Pan-Asia An entity controlled by Yi Zhang Yi Zhang Chairman of Board of Directors Hui Shao Chief Executive Officer Zhongkai Shi* Chief Medical Officer Nan Zhang Daughter of the Chairman Xu Zhang Daughter of the Chairman *
Schedule of Transactions with Related Parties		YS Group had the following transactions with related parties, all of which are interest -free Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) Amounts due from related party: Yisheng Biopharma Holdings Limited (Hong Kong) Receivable collected on behalf of YS Group 30,088,833 2,966,777 — — Repayment to YS Group 33,055,610 — —

Income Tax (Tables)

Income Tax (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Income Tax [Abstract]
Schedule of Reconciliation of Statutory Rate to YS Group's Effective Tax Rate	The following table reconciles the statutory rate to YS Group’s effective tax rate: Six Months Ended September 30, 2022 2023 (Unaudited (Unaudited) PRC statutory income tax rate 25.00 % 25 % Effect of different tax rates in different jurisdictions (182.62 )% (14.93 )% Effect of PRC preferential tax rate (100.49 )% 3.93 % Effect of R&D expenses deduction and other 80.56 % 11.94 % Temporary differences* 5.03 % (0.71 )% Change in valuation allowance 177.88 % (25.70 )% Effective tax rate 5.36 % (0.47 )% *	The following table reconciles the statutory rate to YS Group’s effective tax rate: Years Ended March 31, 2021 2022 2023 PRC statutory income tax rate 25.00 % 25.00 % 25.00 % Effect of different tax rates in different jurisdictions (20.56 )% (18.26 )% (36.00 )% Effect of PRC preferential tax rate (0.77 )% 4.56 % 8.72 % Effect of research and development expenses deduction and others 7.8 % 33.2 % 25.50 % Temporary differences* 10.01 % 4.88 % 0.79 % Change in valuation allowance (11.49 )% (44.47 )% (23.23 )% Effective tax rate 9.99 % 4.91 % 0.78 % *
Schedule of Net Deferred Tax Assets	Net deferred tax assets as of September 30, 2023 and March 31, 2023, consist of the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Deferred tax assets: Write-down of inventories to net realizable value 716,917 1,443,851 $ 201,099 Impairment of property, plant and building 1,769,405 1,638,378 228,193 Deferred government grants 3,296,223 3,124,045 435,116 Losses available for offsetting against future taxable 39,366,020 39,366,020 10,792,055 Less: valuation allowance (39,366,020 ) (39,366,020 ) (10,792,055 ) Total deferred tax assets, net 5,782,545 6,206,274 864,408 Deferred tax liabilities: Fair value adjustments arising from historical acquisition of subsidiaries (3,876,964 ) (3,480,340 ) (484,741 ) Total deferred tax liabilities (3,876,964 ) (3,480,340 ) (484,741 ) Net deferred tax asset 1,905,581 2,725,934 $ 379,667	Net deferred tax assets as of March 31, 2022 and 2023, consist of the following key components: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Deferred tax assets: Write-down of inventories to net realizable value 825,454 716,917 $ 104,329 Impairment of property, plant and building 2,031,460 1,769,405 257,492 Deferred government grants 4,852,383 3,296,223 479,681 Losses available for offsetting against future taxable profits 58,257,270 39,366,020 5,728,716 Less: valuation allowance (58,257,270 ) (39,366,020 ) (5,728,716 ) Total deferred tax assets, net 7,709,297 5,782,545 841,502 Deferred tax liabilities: Fair value adjustments arising from historical acquisition of subsidiaries (4,670,213 ) (3,876,964 ) (564,193 ) Total deferred tax liabilities (4,670,213 ) (3,876,964 ) (564,193 ) Net deferred tax asset 3,039,084 1,905,581 $ 277,309

Deferred Government Grants (Tab

Deferred Government Grants (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Deferred Government Grants [Abstract]
Schedule of Deferred Government Grants	Deferred government grants included the following: March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) Government grants for property, plant and equipment Balance at beginning of the period (audited) 22,030,690 20,575,012 $ 2,865,680 Addition — — — Recognized as income (1,455,678 ) (727,839 ) (101,373 ) Subtotal 20,575,012 19,847,173 $ 2,764,307 Government grants for R&D Balance at beginning of the period (audited) 10,318,528 5,327,196 $ 741,970 Addition 4,000,000 — — Recognized as income (8,991,332 ) (420,011 ) (58,499 ) Subtotal 5,327,196 4,907,185 $ 683,471 Total deferred government grants 25,902,208 24,754,358 $ 3,447,778 Less: current portion 2,295,701 2,295,701 $ 319,744 Non-current portion 23,606,507 22,458,657 $ 3,128,034 September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) Government grants for property, plant and equipment Specific subsidies 727,839 727,839 $ 101,373 Other subsidies — 260,200 36,241 Subtotal 727,839 988,039 $ 137,614 Government grants for R&D Specific subsidies 8,498,711 420,011 $ 58,499 Other subsidies — 2,510,000 349,592 Subtotal 8,498,711 2,930,011 $ 408,091 Other 13,230,141 10,709,509 $ 1,491,616 Total 22,456,691 14,627,559 $ 2,037,321	Deferred government grants included the following: As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) Government grants for property, plant and equipment Balance at beginning of the year 21,847,340 22,030,690 $ 3,206,003 Addition 1,552,000 — — Recognized as income (1,368,650 ) (1,455,678 ) (211,837 ) Subtotal 22,030,690 20,575,012 $ 2,994,166 Government grants for research and development Balance at beginning of the year 11,158,551 10,318,528 $ 1,501,598 Addition — 4,000,000 582,098 Recognized as income (840,023 ) (8,991,332 ) (1,308,458 ) Subtotal 10,318,528 5,327,196 $ 775,238 Total deferred government grants 32,349,218 25,902,208 $ 3,769,404 Less: current portion 2,295,701 2,295,701 $ 334,081 Non-current portion 30,053,517 23,606,507 $ 3,435,323

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Commitments and Contingencies [Abstract]
Schedule of Purchase Raw Materials	As of September 30, 2023, YS Group has the following commitments to purchase raw materials: 2023 2023 (RMB) (US$) Research and development 143,463,250 19,981,511 Purchase raw materials 25,563,268 $ 3,560,443 Total 169,026,518 $ 23,541,954	As of March 31, 2023, YS Group has the following commitments to purchase raw materials or services: As of March 31, 2023 2023 (RMB) (US$) Other professional service fee 3,229,699 $ 470,000 Research and development 185,648,604 27,016,401 Purchase raw materials 15,528,566 2,259,785 Total 204,406,869 $ 29,746,186

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Segment Information [Abstract]
Schedule of Non-Current Assets is Aggregated to form the Reportable Geographical Segment	YS Group’s non -current -current March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) PRC 645,210,788 631,678,369 $ 87,979,939 Other countries/regions 4,602,447 4,638,477 $ 646,045	YS Group’s non -current -current As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) PRC 604,094,049 645,210,788 $ 93,893,911 Other countries/regions 26,777,039 4,602,447 $ 669,769

Parent Company Only Condensed_2

Parent Company Only Condensed Financial Information (Unaudited) (Tables)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule of Parent Company Balance Sheets	PARENT COMPANY BALANCE SHEETS March 31, September 30, September 30, (RMB) (RMB) (US$) (Unaudited) (Unaudited) ASSETS Current Assets Cash 3,045,660 200,226,800 $ 27,887,518 Prepaid expenses and other current assets — 3,467,843 483,000 Amounts due from subsidiaries 1,039,986,896 874,990,142 121,868,317 Total current assets 1,043,032,556 1,078,684,785 150,238,835 Non-current assets Long-term investments, net 158,734,357 165,851,381 23,099,722 Total non-current assets 158,734,357 165,851,381 23,099,722 Total Assets 1,201,766,913 1,244,536,166 $ 173,338,557 LIABILITIES AND EQUITY Current Liabilities Accrued expenses and other liabilities 461,105,636 681,685,969 $ 94,944,980 Warrants liability 8,792,389 2,185,122 304,343 Amounts due to subsidiaries 3,415,603 3,568,745 497,054 Total current liabilities 473,313,628 687,439,836 95,746,377 Total Liabilities 473,313,628 687,439,836 95,746,377 Shareholders’ equity: Ordinary shares, par value US$0.00002 per share; 9,950,000,000 shares authorized; 93,058,197 shares issued and outstanding; 12,297 12,297 1,713 Additional paid-in capital 2,656,891,036 2,656,891,036 370,050,842 Accumulated deficit (1,874,037,965 ) (2,048,560,763 ) (285,322,817 ) Accumulated other comprehensive loss (54,412,083 ) (51,246,240 ) (7,137,558 ) Total shareholders’ equity 728,453,285 557,096,330 77,592,180 Total liabilities and shareholders’ equity 1,201,766,913 1,244,536,166 $ 173,338,557	PARENT COMPANY BALANCE SHEETS As of March 31, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) ASSETS Current Assets Cash 252,611,535 3,045,660 $ 443,218 Amounts due from related parties 519,236,876 1,039,986,896 151,343,466 Total current assets 771,848,411 1,043,032,556 151,786,684 Non-current assets Long-term investments, net 146,641,652 158,734,357 23,099,722 Total non-current assets 146,641,652 158,734,357 23,099,722 Total Assets 918,490,063 1,201,766,913 $ 174,886,406 LIABILITIES AND EQUITY Current Liabilities Accrued expenses and other liabilities 244,082,464 461,105,636 $ 67,102,120 Warrants liability — 8,792,389 1,279,507 Amounts due to related parties 3,155,395 3,415,603 497,054 Total current liabilities 247,237,859 473,313,628 68,878,681 Total Liabilities 247,237,859 473,313,628 68,878,681 Mezzanine equity Series A and A-1 redeemable convertible preferred shares (par value US$0.000005 per share, 50,000,000 shares authorized; 21,548,589 shares issued and outstanding) 458,074,468 — — Series B redeemable convertible preferred shares (par value US$0.000005 per share, 100,000,000 shares authorized; 65,414,858 shares issued and outstanding) 912,146,924 — — Total mezzanine equity 1,370,221,392 — — Shareholders’ (deficit)/equity: Ordinary shares, par value US$0.00002 per share; 9,950,000,000 shares authorized; 61,827,883 and 93,058,197 shares issued and outstanding as of March 31, 2022 and 2023, respectively;* 7,978 12,297 1,790 Additional paid-in capital 808,502,018 2,656,891,036 386,642,466 Accumulated deficit (1,590,567,163 ) (1,874,037,965 ) (272,718,245 ) Accumulated other comprehensive income/(loss) 83,087,979 (54,412,083 ) (7,918,286 ) Total shareholders’ (deficit)/equity (698,969,188 ) 728,453,285 106,007,725 Total liabilities, mezzanine equity and shareholders’ (deficit)/equity 918,490,063 1,201,766,913 $ 174,886,406 *
Schedule of Parent Company Statements of Operations and Comprehensive Loss	PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Equity loss of subsidiaries (5,703,582 ) (172,494,083 ) $ (24,024,916 ) Operating expenses: General and administrative 6,356,204 10,798,610 1,504,027 Research and development (934,367 ) — — Total operating expenses 5,421,837 10,798,610 1,504,027 Loss from operations (11,125,419 ) (183,292,693 ) (25,528,943 ) Other income: Interest income 54 1,918,587 267,220 Fair value changes of warrant liability — 6,851,308 954,248 Total other income, net 54 8,769,895 1,221,468 Net loss (11,125,365 ) (174,522,798 ) (24,307,475 ) Accretion to redemption value of convertible redeemable preferred shares (72,083,238 ) — — Net loss attributable to YS Biopharma (83,208,603 ) (174,522,798 ) (24,307,475 ) Net loss (11,125,365 ) (174,522,798 ) (24,307,475 ) Foreign currency translation (loss) gain (168,653,952 ) 3,165,843 440,937 Total comprehensive loss (179,779,317 ) (171,356,955 ) $ (23,866,538 ) Loss per share*: – Basic and Diluted (0.18 ) (1.88 ) $ (0.26 ) Weighted average number of ordinary shares outstanding*: – Basic and Diluted 61,785,466 93,058,197 93,058,197 *	PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Years Ended March 31, 2021 2022 2023 2023 ( RMB (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Equity loss of subsidiaries (60,903,713 ) (75,864,722 ) (138,758,136 ) $ (20,192,694 ) Operating expenses: Selling and marketing 54,278 — — — General and administrative 104,562,058 29,178,255 7,630,726 1,110,456 Research and development 4,352,356 988,531 (887,280 ) (129,121 ) Total operating expenses 108,968,692 30,166,786 6,743,446 981,335 Loss from operations (169,872,405 ) (106,031,508 ) (145,501,582 ) (21,174,029 ) Other income (expenses): Financial income/(expenses) (21,953,837 ) 27,107 1,119 163 Fair value changes of warrant liability — — 21,358 3,108 Total other income/(expense), net (21,953,837 ) 27,107 22,477 3,271 Net income/(loss) (191,826,242 ) (106,004,401 ) (145,479,105 ) (21,170,758 ) Accretion to redemption value of convertible redeemable preferred shares (16,610,297 ) (130,662,326 ) (137,991,697 ) (20,081,159 ) Net loss attributable to YS Biopharma (208,436,538 ) (236,666,727 ) (283,470,802 ) (41,251,917 ) Net loss (191,826,242 ) (106,004,401 ) (145,479,105 ) (21,170,758 ) Foreign currency translation gain(loss) 22,455,217 38,864,606 (137,500,062 ) (20,009,614 ) Total comprehensive loss (169,371,025 ) (67,139,795 ) (282,979,167 ) $ (41,180,372 ) Loss per share*: – Basic and Diluted (3.10 ) (1.71 ) (1.56 ) $ (0.23 ) Weighted average number of ordinary shares outstanding*: – Basic and Diluted 61,827,883 61,827,883 93,058,197 93,058,197 *
Schedule of Parent Company Statements of Cash Flows	PARENT COMPANY STATEMENTS OF CASH FLOWS Six Months Ended September 30, 2022 2023 2023 (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) Net loss (11,125,365 ) (174,522,798 ) $ (24,307,475 ) Equity loss of subsidiaries 5,703,582 172,494,083 24,024,915 Share-based compensation (85,316 ) — — Fair value changes of warrant liability — (6,851,308 ) (954,248 ) Changes in operating assets and liabilities: Amounts due from subsidiaries (328,910,623 ) 164,996,754 22,980,689 Amounts due to subsidiaries 373,586 153,142 21,330 Prepaid expenses and other current assets — (3,467,843 ) (483,000 ) Accrued expenses and other liabilities 55,467,639 37,562,847 5,231,740 Net cash (used in) provided by operating activities (278,576,497 ) 190,364,877 26,513,951 Effect of exchange rate on cash 29,908,137 6,816,263 949,369 Net (decrease) increase in cash (248,668,360 ) 197,181,140 27,463,320 Cash at the beginning of the period 252,611,535 3,045,660 424,198 Cash at the end of the period 3,943,175 200,226,800 $ 27,887,518 Non-cash transactions: Accretion to redemption value of convertible redeemable preferred shares 72,083,238 — $ —	PARENT COMPANY STATEMENTS OF CASH FLOWS Years Ended March 31, 2021 2022 2023 2023 (RMB) (RMB) (RMB) (US$) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss (191,826,242 ) (106,004,401 ) (145,479,105 ) $ (21,170,758 ) Equity loss of subsidiaries 60,903,713 75,864,722 138,758,136 20,192,694 Share-based compensation 76,756,500 7,764,448 3,505,001 510,063 Fair value changes of warrant liability — — (21,358 ) (3,108 ) Changes in operating assets and liabilities: Amounts due from related parties (421,125,633 ) (23,299,705 ) (520,750,020 ) (75,781,833 ) Amounts due to related parties 2,906,881 (110,893 ) 260,208 37,867 Accrued expenses and other liabilities 77,228,629 (24,732,348 ) 48,377,785 7,040,148 Net cash used in operating activities (395,156,152 ) (70,518,177 ) (475,349,353 ) (69,174,927 ) Cash flows from investing activities: Payment for long-term investment (7,658,738 ) (813,776 ) — — Net cash used in investing activities (7,658,738 ) (813,776 ) — — Cash flows from financing activities: Proceeds from issuance of mezzanine equity 729,412,999 — — — Shareholders’ contributions 1,589,236 — — — Proceeds from acquisition — — 252,457,329 36,738,701 Offering cost (35,884,661 ) (5,222,094 ) Net cash provided by financing activities 731,002,235 — 216,572,668 31,516,607 Effect of exchange rate on cash 2,109,604 (6,353,461 ) 9,210,810 1,340,397 Net (decrease) increase in cash 330,296,949 (77,685,414 ) (249,565,875 ) (36,317,923 ) Cash at the beginning of the year — 330,296,949 252,611,535 36,761,141 Cash at the end of the year 330,296,949 252,611,535 3,045,660 $ 443,218 Non-cash transactions: Accretion to redemption value of convertible redeemable 16,610,297 130,662,326 (137,991,697 ) $ (20,081,159 ) Forgiveness from related parties 446,092,527 — — — Equity transaction from warrants — — (8,870,007 ) $ (1,290,802 ) Equity transaction from preferred shares — — 1,636,897,084 $ 238,208,461

Convertible Redeemable Prefer_2

Convertible Redeemable Preferred Shares (Tables)	12 Months Ended
	Mar. 31, 2023
Convertible Redeemable Preferred Shares [Abstract]
Schedule of Outstanding Convertible Redeemable Preferred Shares	The following table summarizes YS Group’s outstanding Convertible Redeemable Preferred Shares for the three years ended March 31, 2023: Series A Series A-1 Series B Total Total Shares Carrying Value Shares Carrying Value Shares Carrying Value Carrying Value Carrying Value (RMB) (RMB) (RMB) (RMB) (US$) As of March 31, 2020 21,548,589 440,585,213 — — — — 440,585,213 $ 69,403,171 Conversion of convertible notes — — — — 18,393,610 131,425,527 131,425,527 20,702,802 Call option under convertible notes — — — — 9,660,324 131,425,290 131,425,290 20,702,765 New insurance — — — — 37,360,924 597,987,709 597,987,709 94,197,995 Shares transferred (6,014,313 ) (68,232,451 ) 6,014,313 68,232,451 — — — — Accretion to redemption value — 1,758,690 — — — 14,851,607 16,610,297 2,616,536 Foreign currency translation — (29,449,559 ) — (2,567,136 ) — (558,770 ) (32,575,465 ) (5,131,449 ) As of March 31, 2021 15,534,276 344,661,893 6,014,313 65,665,315 65,414,858 875,131,363 1,285,458,571 $ 202,491,820 Accretion to redemption value — 57,598,340 — 5,164,090 — 67,899,896 130,662,326 20,582,579 Foreign currency translation — (12,696,574 ) — (2,318,596 ) — (30,884,335 ) (45,899,505 ) (7,230,318 ) As of March 31, 2022 15,534,276 389,563,659 6,014,313 68,510,809 65,414,858 912,146,924 1,370,221,392 $ 215,844,081 Accretion to redemption value 65,904,705 5,463,610 66,623,382 137,991,697 20,081,159 Foreign currency translation 34,734,369 5,866,010 77,857,300 118,457,680 795,044 Converted to ordinary shares (15,534,276 ) (490,202,733 ) (6,014,313 ) (79,840,429 ) (65,414,858 ) (1,056,627,606 ) (1,626,670,769 ) (236,720,284 ) As of March 31, 2023 — — — — — — — —

Organization and Business Des_3

Organization and Business Description (Details)	Mar. 31, 2023 shares
YS Biopharma [Member]
Organization and Business Description (Details) [Line Items]
Ordinary Share	1

Organization and Business Des_4

Organization and Business Description (Details) - Schedule of Ys Group's Current Legal Entity		6 Months Ended		12 Months Ended
		Sep. 30, 2023		Mar. 31, 2023
YS Biopharma Co., Ltd. (“YS Biopharma”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations	[1]	Holding Company
Date of Incorporation	[1]	Nov. 16, 2020
Place of Incorporation	[1]	Cayman Islands
YishengBio (Hong Kong) Holdings Limited (“HK Yisheng”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations		Holding Company
Date of Incorporation		Dec. 28, 2020
Place of Incorporation		Hong Kong
Yisheng Biopharma (Singapore) Pte. Ltd. (“Singapore Yisheng”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations		Research and development of vaccines and therapeutic biologics	[2]	Research and development of vaccines and therapeutic biologics
Date of Incorporation		Nov. 28, 2009	[2]	Nov. 28, 2009
Place of Incorporation		Singapore	[2]	Singapore
Yisheng US Biopharma Inc. (“US Yisheng”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations		Research of vaccines and therapeutic biologics		Research of vaccines and therapeutic biologics
Date of Incorporation		Sep. 29, 2009		Sep. 29, 2009
Place of Incorporation		US		US
Liaoning Yisheng Biopharma Co., Ltd. (“Liaoning Yisheng”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations		Research and development, manufacturing and commercialization of vaccines and therapeutic biologics	[3]	Research and development, manufacturing and commercialization of vaccines and therapeutic biologics
Date of Incorporation		May 26, 1994	[3]	May 26, 1994
Place of Incorporation		PRC	[3]	PRC
Beijing Yisheng Biotechnology Co., Ltd. (“Beijing Yisheng”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations		Research and development of vaccines and therapeutic biologics		Research and development of vaccines and therapeutic biologics
Date of Incorporation		Feb. 04, 2021		Feb. 04, 2021
Place of Incorporation		PRC		PRC
Hudson Biomedical Group Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations		Purpose of effecting a merger		Purpose of effecting a merger
Date of Incorporation		Aug. 15, 2022		Aug. 15, 2022
Place of Incorporation		Cayman Islands		Cayman Islands
YS Biopharma (Philippines) Inc. (“Philippines Yisheng”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nature of Operations		Researching, developing, producing, wholesaling and commercializing pharmaceutical products
Date of Incorporation		May 09, 2023
Place of Incorporation		Philippines
[1]YS Biopharma, formerly known as Yisheng Bio Co., Ltd with the name changed on March 16, 2023.[2]Singapore Yisheng was incorporated November 28, 2009, and acquired by YS Group in fiscal 2011[3]Liaoning Yisheng was incorporated May 26, 1994, and acquired by YS Group in fiscal 2005.

Liquidity (Details)

Liquidity (Details)	6 Months Ended		12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)	Dec. 27, 2023 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)
Liquidity (Details) [Line Items]
Company reported net loss | ¥	¥ 174,522,798	¥ 11,125,365	¥ 145,479,105	¥ 106,004,401	¥ 191,826,242
Accumulated deficit	(2,048,560,763)		(1,874,037,965)	¥ (1,590,567,163)			$ (285,322,817)	$ (272,718,245)
Cash	259,900,000		370,400,000				36,200,000	53,900,000
Outstanding bank loans and other borrowing	¥ 544,700,000		¥ 487,500,000				$ 75,900,000	$ 70,900,000
Prepayment loan (in Dollars)						$ 40,000,000
Subsequent Event [Member]
Liquidity (Details) [Line Items]
Prepayment loan (in Dollars)						$ 40,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)			6 Months Ended		12 Months Ended
	Sep. 30, 2023 CNY (¥) shares	Mar. 31, 2023 CNY (¥) shares	Sep. 30, 2023 CNY (¥) shares	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥) shares	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2023 USD ($) shares	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Summary of Significant Accounting Policies (Details) [Line Items]
Translated amount	¥ 7.1798	¥ 6.8717	¥ 7.1798		¥ 6.8717			$ 1	$ 1
Advance to suppliers	¥ 100	¥ 54,870			¥ 54,870
Account receivable balance percentage	10%	10%			10%	10%	10%
Net revenue percentage			10%	10%	10%	10%	10%
Late fees related to social security insurance			0.05%		0.05%
Late fee charge of social insurance (in Yuan Renminbi) | ¥	¥ 10,200,000	¥ 9,900,000	¥ 10,200,000		¥ 9,900,000					¥ 9,500,000	¥ 29,400,000
Security insurance of approximately amount (in Yuan Renminbi) | ¥			¥ 400,000	¥ 300,000
Foreign statutory income tax			(14.93%)	(182.62%)	(36.00%)	(18.26%)	(20.56%)
Bank deposit	¥ 500,000	¥ 500,000	¥ 500,000		¥ 500,000			$ 70,000
Statutory income tax rate			25%	25%	25%	25%	25%
Public Warrants [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Warrant shares (in Shares)	10,750,000	10,750,000	10,750,000		10,750,000			10,750,000	10,750,000
Private Placement [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Warrant shares (in Shares)	6,000,000		6,000,000					6,000,000
Private Warrants [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Warrant shares (in Shares)		6,000,000			6,000,000				6,000,000
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Amortization term	48 years 9 months	48 years 9 months	48 years 9 months		48 years 9 months			48 years 9 months	48 years 9 months
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Amortization term	50 years	50 years	50 years		50 years			50 years	50 years
Singapore [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Statutory income tax rate			17%		17%
United States [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Statutory income tax rate			21%		21%
Patents [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Finite-lived intangible asset, useful life	15 years	15 years	15 years		15 years			15 years	15 years
Computer Software, Intangible Asset [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Finite-lived intangible asset, useful life	10 years	10 years	10 years		10 years			10 years	10 years
Subsidiaries [Member] | Singapore [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Foreign statutory income tax			17%		17%
Subsidiaries [Member] | China [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Foreign statutory income tax			25%		25%
Subsidiaries [Member] | United States [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Foreign statutory income tax			21%		21%
Statutory income tax rate					8.25%
Subsidiaries [Member] | MARYLAND
Summary of Significant Accounting Policies (Details) [Line Items]
Foreign statutory income tax			8.25%
Subsidiaries [Member] | Philippines [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Foreign statutory income tax			20%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS	6 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
United States of America, Dollars [Member]
Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS [Abstract]
Currency exchange rates as of Balance Sheet	7.1798		6.8717	6.3482
Currency exchange rates, Profit/Loss	7.0258	6.724	6.61	6.4598	6.8282
Singapore, Dollars [Member]
Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS [Abstract]
Currency exchange rates as of Balance Sheet	5.2599		5.176	4.6932
Currency exchange rates, Profit/Loss	5.218	4.8325	4.9346	4.785	4.9246
Philippines, Pesos [Member]
Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS [Abstract]
Currency exchange rates as of Balance Sheet	0.1286		0.1264
Currency exchange rates, Profit/Loss	0.1275	0.1217

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life	6 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Leasehold improvement	Lesser of the lease term or life of assets
Plant and building [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	6 years	6 years
Plant and building [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	20 years	20 years
Machinery and Equipment [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	5 years	5 years
Machinery and Equipment [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	10 years	10 years
Furniture and Fixtures [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	3 years	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	7 years	7 years
Motor Vehicles [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	4 years
Motor Vehicles [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	5 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases - Accounts Payable [Member] - Vendors concentration risk [Member]	6 Months Ended		12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)
Vendor F [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable	¥ 26,744,400		¥ 420		$ 3,724,951	$ 61
Concentration risk	28.80%		0%
Vendor B [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable	¥ 9,544,080	¥ 10,053,600			1,329,296		$ 1,416,040
Concentration risk	10.30%	18%
Vendor G [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable	¥ 5,844,185				813,976
Concentration risk	6.30%
Vendor D [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable	¥ 5,074,866	¥ 2,009,315			706,826		283,010
Concentration risk	5.50%	3.60%
Vendor H [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable	¥ 4,799,409		¥ 16,118		668,460	2,346
Concentration risk	5.20%		0%
Vendors [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable	¥ 52,006,940	¥ 38,589,743			$ 7,243,509		5,435,328
Concentration risk	56.10%	69.10%
Vendor A [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable		¥ 21,661,500	¥ 3,220,000			$ 468,589	3,051,001
Concentration risk		38.80%	4%
Vendor C [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable		¥ 3,005,828					423,368
Concentration risk		5.40%
Vendor E [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Accounts payable		¥ 1,859,500		¥ 1,420,549			$ 261,909	$ 223,772
Concentration risk		3.30%		4.60%

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - Schedule of Accounts Receivable, Net	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of Accounts Receivable, Net [Abstract]
Trade receivables	¥ 459,077,454	$ 63,940,145	¥ 487,418,616	$ 70,931,300	¥ 322,170,980
Allowance for doubtful accounts	(29,708,520)	(4,137,792)	(24,366,824)	(3,545,967)	(13,615,875)
Accounts receivable, net	¥ 429,368,934	$ 59,802,353	¥ 463,051,792	$ 67,385,333	¥ 308,555,105

Accounts Receivable, Net (Det_2

Accounts Receivable, Net (Details) - Schedule of Allowance for Doubtful Accounts	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)
Schedule of Allowance for Doubtful Accounts [Abstract]
Balance at beginning of the period (audited)	¥ 24,366,824		¥ 13,615,875	¥ 13,615,875		¥ 8,530,951	$ 3,393,802	$ 1,981,442
Additions (unaudited)	5,341,696	$ 743,990	6,447,110	10,750,949	$ 1,564,525	5,084,924
Balance at end of the period (unaudited)	¥ 29,708,520		¥ 20,062,985	¥ 24,366,824		¥ 13,615,875	$ 4,137,792	$ 3,545,967

Inventories, Net (Details)

Inventories, Net (Details) ¥ in Millions	Sep. 30, 2023 CNY (¥)
Inventories, Net [Abstract]
Work in progress	¥ 1

Inventories, Net (Details) - Sc

Inventories, Net (Details) - Schedule of Inventories	Sep. 30, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 CNY (¥)		Mar. 31, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2022 CNY (¥)
Schedule of inventories [Abstract]
Raw materials	¥ 63,425,030		$ 8,833,816		¥ 50,453,180		$ 7,342,169		¥ 57,926,980
Work in progress	40,767,989		5,678,151		61,275,177		8,917,033		40,795,744
Finished goods	118,253,022	[1]	16,470,239	[1]	78,432,041	[1]	11,413,775		73,285,870
Allowance for slow-moving or obsolete inventories	(9,625,670)		(1,340,660)		(4,779,446)		(665,679)	¥ (1,109,400)	(5,503,029)
Inventories, net	¥ 212,820,371		$ 29,641,546		¥ 185,380,952		$ 26,977,451		¥ 166,505,565
[1]From March 2023, Liaoning Yisheng manufactures Yivyka Injection which obtained a pharmaceutical marketing authorization in Cambodia. All the Yivyka Injection will be exported to Cambodia and not marketed in PRC. As of September 30, 2023, approximately RMB1.0 million of Yivyka Injection was recorded in finished goods.

Inventories, Net (Details) - _2

Inventories, Net (Details) - Schedule of Movements in the Allowance for Slow-Moving or Obsolete Inventories	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of movements in the allowance for slow-moving or obsolete inventories [Abstract]
Balance at beginning of the period (audited)	¥ 4,779,446	$ 665,679	¥ 5,503,029	¥ 5,503,029
Additions (unaudited)	10,678,694	1,487,325		3,670,046	$ 534,081	¥ 4,393,629
Inventories written off (unaudited)	(5,832,470)	(812,344)	(4,393,629)	(4,393,629)	(639,380)	(40,192,397)
Balance at end of the period	¥ 9,625,670	$ 1,340,660	¥ 1,109,400	¥ 4,779,446	$ 665,679	¥ 5,503,029

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - CNY (¥) ¥ in Millions	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2014
Property, Plant and Equipment, Net [Abstract]
Asset impairment on property, plant and equipment	¥ 29.9	¥ 29.9

Property, Plant and Equipment_4

Property, Plant and Equipment, Net (Details) - Schedule of Property, Plant and Equipment	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Cost
Total Cost	¥ 786,967,084	$ 109,608,497	¥ 780,512,580	$ 113,583,622	¥ 730,447,603
Less: accumulated depreciation	(195,396,698)	(27,214,783)	(178,864,241)	(26,029,112)	(150,402,597)
Less: asset impairment	(29,891,896)	(4,163,333)	(29,891,896)	(4,349,998)	(29,891,896)
Property and equipment, net	561,678,490	78,230,381	571,756,443	83,204,512	550,153,110
Construction in Progress [Member]
Cost
Total Cost	274,132,838	38,181,125	309,948,621	45,105,086	318,000,074
Plant and Buildings [Member]
Cost
Total Cost	216,039,542	30,089,911	178,756,490
Machinery and Equipment [Member]
Cost
Total Cost	241,771,870	33,673,900	237,637,928	34,582,116	194,875,303
Electronic Equipment [Member]
Cost
Total Cost	11,314,439	1,575,871	11,117,440	1,617,859	10,107,578
Motor Vehicles [Member]
Cost
Total Cost	3,252,678	453,032	3,031,087	441,097	2,978,155
Office Equipment and Furniture [Member]
Cost
Total Cost	38,522,520	5,365,403	34,423,995	5,009,531	29,888,526
Leasehold Improvements [Member]
Cost
Total Cost	¥ 1,933,197	$ 269,255	¥ 5,597,019	$ 814,503	¥ 4,390,980

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets, Net (Details) - Schedule of Prepaid Expenses and Other Current Assets, Net		Sep. 30, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 CNY (¥)		Mar. 31, 2023 USD ($)		Mar. 31, 2022 CNY (¥)
Schedule of Prepaid Expenses and Other Current Assets, Net [Abstract]
Deposits		¥ 4,204,925	[1]	$ 585,660	[1]	¥ 4,339,791	[1],[2]	$ 631,545	[2]	¥ 2,807,847	[2]
Staff advances		283,299	[3]	39,458	[3]	606,859	[3],[4]	88,313	[4]	383,251	[4]
Staff’s social security		242,753	[5]	33,811	[5]	252,090	[5],[6]	36,685	[6]	615,581	[6]
Value added tax recoverable		1,665,748	[7]	232,005	[7]	4,249,718	[7],[8]	618,438	[8]	3,442,733	[8]
Clinical trial insurance			[9]		[9]	178,699	[9],[10]	26,005			[10]
Prepaid expense	[11]	3,467,843		483,000
Other receivable		1,592,850	[12]	221,851	[12]	901,355	[12]	131,169	[13]	854,245	[13]
Allowance		(115,743)	[14]	(16,121)	[14]	(115,743)	[14],[15]	(16,843)	[15]	(115,743)	[15]
Total		¥ 11,341,675		$ 1,579,664		¥ 10,412,769		$ 1,515,312		¥ 7,987,914
[1]Deposits primarily are deposits to Centers for Disease Control and Prevention (“CDCs”) for participation in the public tender process held by province -level -level -added -added -19 -19 -19 -19

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - Schedule of Intangible Assets	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Cost
Total Cost	¥ 157,225,338	$ 21,898,290	¥ 157,225,338	$ 22,880,123	¥ 152,933,740
Less: Accumulated Amortization	(82,586,982)	(11,502,686)	(79,168,546)	(11,520,955)	(72,215,762)
Intangible Assets, net	74,638,356	10,395,604	78,056,792	11,359,168	80,717,978
Patents [Member]
Cost
Total Cost	79,608,000	11,087,774	79,608,000	11,584,906	79,608,000
Licenses, Software and Laboratory Information System [Member]
Cost
Total Cost	10,435,478	1,453,450	10,435,478	1,518,617	6,143,880
Land Use Rights [Member]
Cost
Total Cost	¥ 67,181,860	$ 9,357,066	¥ 67,181,860	$ 9,776,600	¥ 67,181,860

Bank Loans and Other Borrowin_3

Bank Loans and Other Borrowings (Details)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Dec. 31, 2023 CNY (¥)

Sep. 18, 2023 CNY (¥)

Sep. 14, 2023 CNY (¥)

Sep. 01, 2023 CNY (¥)

Aug. 15, 2023 CNY (¥)

Aug. 14, 2023 CNY (¥)

Jul. 31, 2023 CNY (¥)

Jul. 20, 2023 CNY (¥)

Jul. 19, 2023 CNY (¥)

Jun. 30, 2023 CNY (¥)

Jun. 07, 2023 CNY (¥)

Jun. 05, 2023 CNY (¥)

May 29, 2023 CNY (¥)

Apr. 30, 2023 CNY (¥)

Mar. 17, 2023 CNY (¥)

Jan. 16, 2023 CNY (¥)

Jan. 13, 2023 CNY (¥)

Nov. 08, 2022 CNY (¥)

Nov. 08, 2022 CNY (¥)

Sep. 09, 2022 CNY (¥)

Mar. 16, 2022 CNY (¥)

Sep. 13, 2021 CNY (¥)

Jul. 12, 2021 CNY (¥)

May 02, 2020 CNY (¥)

May 02, 2020 USD ($)

Sep. 30, 2023 CNY (¥)

Jul. 31, 2023 CNY (¥)

Apr. 30, 2023 CNY (¥)

Jul. 31, 2023 CNY (¥)

Jul. 17, 2023 CNY (¥)

Sep. 30, 2023 CNY (¥)

Sep. 30, 2023 USD ($)

Sep. 30, 2022 CNY (¥)

Mar. 31, 2023 CNY (¥)

Mar. 31, 2023 USD ($)

Mar. 31, 2022 CNY (¥)

Mar. 31, 2022 USD ($)

Mar. 31, 2021 CNY (¥)

Dec. 27, 2023 USD ($)

Sep. 27, 2023 CNY (¥)

Jul. 18, 2023 CNY (¥)

Nov. 25, 2022

May 06, 2022 CNY (¥)

Mar. 16, 2022 USD ($)

Bank Loans and Other Borrowings (Details) [Line Items]

Amount drawn or borrowed

¥ 36,400,000

Repaid amount

¥ 29,700,000

¥ 32,400,000

¥ 20,900,000

Investments amount

30,000,000

¥ 30,000,000

Prepayment loan (in Dollars) | $

$ 40,000,000

Repaid amount

¥ 32,400,000

¥ 31,700,000

¥ 20,900,000

¥ 2,900,000

¥ 2,900,000

¥ 4,700,000

Interest expense

¥ 14,900,000

¥ 15,200,000

32,000,000

¥ 2,800,000

¥ 5,800,000

Accrued interest on loan

23,400,000

$ 3,400,000

Minimum [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

EBITDA margin percentage

20%

20%

Royalty rate

1.50%

1.50%

Maximum [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

EBITDA margin percentage

25%

25%

Royalty rate

3.50%

3.50%

Subsequent Event [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Prepayment loan (in Dollars) | $

$ 40,000,000

China Guangfa Bank Co., Ltd. [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 100,000,000

Term of credit facility

3 years

Amount drawn or borrowed

¥ 45,400,000

$ 45,400,000

Annual interest rate

5.66%

Amount drawn or borrowed

¥ 41,200,000

Shanghai Pudong Development Bank Co Ltd Shenyang Branch Three [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 140,000,000

Term of credit facility

3 years

Shanghai Pudong Development Bank Co., Ltd Shenyang Branch [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 140,000,000

¥ 6,000,000

Term of credit facility

3 years

Amount drawn or borrowed

¥ 83,000,000

Annual interest rate

5.30%

R-Bridge Healthcare Fund, LP [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 274,868,000

$ 40,000,000

Term of credit facility

54 months

YS Group [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Accrued interest

¥ 4,400,000

600,000

Debt instrument periodic payment

¥ 722,222

Repayments of debt

¥ 869,000

YS Group [Member] | Minimum [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Repayment of debt

400,000,000

400,000,000

YS Group [Member] | Maximum [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Repayment of debt

¥ 500,000,000

¥ 500,000,000

China CITIC Bank Shenyang Tiexi Branch [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

40,000,000

¥ 3,550,600

¥ 5,000,000

Repaid amount

¥ 23,600,000

¥ 4,700,000

Letters of credit issued

¥ 4,700,000

Annual interest rate

3.25%

China Construction Bank Shenyang Heping Branch [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 33,200,000

¥ 712,400

¥ 14,700,000

¥ 988,000

Term of credit facility

1 year

1 year

18 months

1 year

Amount drawn or borrowed

¥ 4,400,000

¥ 31,300,000

Repaid amount

¥ 988,000

¥ 8,900,000

¥ 9,700,000

Annual interest rate

3.90%

4%

3.90%

4%

Zhongguancun Technology Leasing Co., Ltd [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 26,000,000

¥ 26,000,000

Term of credit facility

1 year

36 months

Repaid amount

¥ 2,900,000

Repaid amount

¥ 7,200,000

Annual interest rate

5%

5%

Debt instrument periodic payment

¥ 8,600,000

¥ 8,700,000

Last repayment

722,230

722,230

Loan outstanding

¥ 23,100,000

¥ 18,800,000

CITIC Financial Leasing Co., Ltd [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 40,000,000

Term of credit facility

1 year

Amount drawn or borrowed | $

$ 3,200,000

Repaid amount

¥ 3,200,000

Debt instrument periodic payment

¥ 12,800,000

Loan outstanding amount

¥ 36,800,000

Minsheng Bank Shenyang Huanghe Street Branch [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 11,300,000

Term of credit facility

1 year

Industrial Bank Shenyang Branch [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 29,800,000

¥ 16,000,000

¥ 4,000,000

Term of credit facility

1 year

3 years

3 years

Citi Bank [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Amount drawn or borrowed

¥ 1,103,609

$ 166,400

Annual interest rate

1%

1%

Repayments of debt

$ 129,422

¥ 235,000

$ 36,978

R-Bridge Healthcare Fund, LP [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Annual interest rate

4%

4%

R-Bridge Healthcare Fund, LP [Member] | Minimum [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Royalty rate

1.50%

1.50%

R-Bridge Healthcare Fund, LP [Member] | Maximum [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Royalty rate

3.50%

3.50%

CITIC Bank Shenyang Tiexi Branch [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Annual interest rate

5%

R-Bridge Healthcare Fund, LP [Member] | R-Bridge Healthcare Fund, LP [Member]

Bank Loans and Other Borrowings (Details) [Line Items]

Credit facility

¥ 287,192,000

Bank Loans and Other Borrowin_4

Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings		6 Months Ended		12 Months Ended
		Sep. 30, 2023 CNY (¥)		Mar. 31, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 USD ($)		Mar. 31, 2022 CNY (¥)
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year		¥ 182,741,935		¥ 193,736,563		$ 25,452,232		$ 28,193,397		¥ 111,733,754
Bank loans due within one year		361,965,073		293,790,596		50,414,367		42,753,699		253,928,000
Total bank loans		544,707,008		487,527,159		75,866,599		70,947,096		365,661,754
China Guangfa Bank Co., Ltd – Shenyang Branch
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year		¥ 45,351,601	[1]	¥ 41,191,031	[1],[2]	$ 6,316,555	[1]	$ 5,994,300	[2]	46,456,142	[2]
Maturity Date		2023/12/16 –2024/3/12	[1]	2023/10/13 –2023/12/16	[2]
Interest Rate		5.66%	[1]	5.66%	[2]	5.66%	[1]	5.66%	[2]
Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year			[3]	¥ 82,964,518	[3],[4]		[3]	$ 12,073,361	[4]	64,647,870	[4]
Maturity Date		2023/6/29 –2023/12/12	[3]	2023/6/29 –2023/12/12	[4]
Interest Rate		5.30%	[3]	5.30%	[4]	5.30%	[3]	5.30%	[4]
China CITIC Bank Shenyang Tiexi Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year		¥ 36,424,414	[5]	¥ 23,596,350	[5],[6]	$ 5,073,179	[5]	$ 3,433,845	[6]		[6]
Maturity Date		2023/10/13 –2024/5/29	[5]	2023/10/13 –2023/11/9	[6]
Interest Rate		5%	[5]	5%	[6]	5%	[5]	5%	[6]
China CITIC Bank Shenyang Tiexi Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[7]			¥ 5,000,000
Maturity Date	[7]	2023/5/25 –2023/7/17
Interest Rate	[7]	3.25%				3.25%
China CITIC Bank Shenyang Tiexi Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[8]	¥ 3,550,600				$ 494,526
Maturity Date	[8]	2024/5/29
Interest Rate	[8]	4.75%				4.75%
China Construction Bank Shenyang Heping Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year		¥ 33,160,000	[9]	¥ 31,330,000	[9],[10]	$ 4,618,513	[9]	$ 4,559,279	[10]		[10]
Maturity Date		2023/11/21 –2024/8/31	[9]	2023/9/8 –2023/11/24	[10]
Interest Rate		4%	[9]	4%	[10]	4%	[9]	4%	[10]
China Construction Bank Shenyang Heping Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[11]	¥ 1,700,400		¥ 988,000		$ 236,831
Maturity Date	[11]	2024/1/12 –2024/7/19
Interest Rate	[11]	3.90%				3.90%
Zhongguancun Technology Leasing Co., Ltd [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year		¥ 8,666,664	[12]	¥ 8,666,664	[12],[13]	$ 1,207,090	[12]	$ 1,261,212	[13]		[13]
Maturity Date		2025/11/7	[12]	2025/11/7	[13]
Interest Rate		5%	[12]	5%	[13]	5%	[12]	5%	[13]
Bank loans due within one year	[13]			¥ 14,492,596				$ 2,109,026
Interest Rate	[13]			5%				5%
CITIC Financial Leasing Co., Ltd [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[14]	¥ 12,825,276				$ 1,786,300
Maturity Date	[14]	2026/5/29
Interest Rate	[14]	4.80%				4.80%
Minsheng Bank Shenyang Huanghe Street Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[15]	¥ 11,286,310				$ 1,571,953
Maturity Date	[15]	2024/7/7 –2024/7/19
Interest Rate	[15]	4%				4%
Industrial Bank Shenyang Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[16]	¥ 29,776,670				$ 4,147,285
Maturity Date	[16]	2024/8/15 –2024/9/17
Interest Rate	[16]	4%				4%
R-Bridge Healthcare Fund, LP [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[17]									394,999
Maturity Date	[17]			2026/9/15
Interest Rate	[17]			4%				4%
Bank loans due within one year		¥ 287,192,000	[18]	¥ 274,868,000	[17],[18]	$ 40,000,000	[18]	$ 40,000,000	[17]	¥ 253,928,000	[17]
Maturity Date	[18]	2026/9/15
Interest Rate		4%	[18]	4%	[17]	4%	[18]	4%	[17]
China Construction Bank Shenyang Heping Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[19]	¥ 14,720,000		¥ 4,430,000		$ 2,050,196
Maturity Date	[19]	2024/9/16 –2024/12/6
Interest Rate	[19]	4%				4%
Zhongguancun Technology Leasing Co., Ltd [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[12]	¥ 10,111,116		14,492,596		$ 1,408,273
Maturity Date	[12]	2025/11/7
Interest Rate	[12]	5%				5%
CITIC Financial Leasing Co., Ltd [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[14]	¥ 23,993,182				$ 3,341,762
Maturity Date	[14]	2026/5/29
Interest Rate	[14]	4.80%				4.80%
Industrial Bank Shenyang Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[20]	¥ 19,993,041				$ 2,784,624
Maturity Date	[20]	2026/7/31 –2026/9/3
Interest Rate	[20]	4.25%				4.25%
Shanghai Pudong Development Bank Co., Ltd. Shenyang Branch [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings [Line Items]
Bank loans due within one year	[21]	¥ 5,955,734				$ 829,512
Maturity Date	[21]	2024/3/21 –2025/9/26
Interest Rate	[21]	4%				4%
[1]On September 13, 2021, YS Group entered into a credit facility of RMB100 million with China Guangfa Bank Co., Ltd. Shenyang Branch for three three three three -Bridge -Bridge three

Bank Loans and Other Borrowin_5

Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	$ 40,000,000	$ 40,000,000
April 7, 2025 [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
July 7, 2025 [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
October 7, 2025 [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
January 7, 2026 [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
April 7, 2026 [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
July 7, 2026 [Member]
Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	$ 8,000,000	$ 8,000,000

Leases (Details) - Schedule of

Leases (Details) - Schedule of Operating Leases	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of Operating Leases [Abstract]
Operating lease ROU assets	¥ 9,607,109	$ 1,338,075	¥ 11,132,428	$ 1,620,040	¥ 14,850,283
Operating lease liabilities – current	5,027,649	700,249	4,753,547	691,757	4,322,252
Operating lease liabilities – non-current	¥ 4,462,505	$ 621,536	¥ 6,348,890	$ 923,918	¥ 10,605,260
Weighted average remaining lease term	2 years	2 years	2 years 6 months	2 years 6 months	3 years 4 months 24 days
Weighted average discount rate	4.90%	4.90%	4.70%	4.70%	4.80%

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Lease Cost Recognized Supplemental Cash Flow Information Related to Operating Leases	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Schedule of Lease Cost Recognized Supplemental Cash Flow Information Related to Operating Leases [Abstract]
Operating lease cost	¥ 2,711,527	$ 377,661	¥ 2,508,388	¥ 5,002,684	$ 728,013	¥ 4,594,967	¥ 2,643,917
Cash paid for operating leases	¥ 2,822,023	$ 393,050	¥ 786,888	¥ 3,349,856	$ 487,486	¥ 4,587,894	¥ 2,601,625

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of Maturity of Operating Lease Liabilities under the Non-cancelable Operating Leases	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)
Schedule of Maturity of Operating Lease Liabilities under the Non-cancelable Operating Leases [Abstract]
2024	¥ 5,332,992	$ 742,777	¥ 5,178,993	$ 753,670
2025	4,275,341	595,468	5,040,835	733,564
2026	357,806	49,835	1,526,270	222,110
Total lease payments	9,966,139	1,388,080	11,746,098	1,709,344
Less: Interest	(475,985)	(66,295)	(643,661)	(93,669)
Present value of operating lease liabilities	¥ 9,490,154	$ 1,321,785	¥ 11,102,437	$ 1,615,675

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - CNY (¥) ¥ in Millions		12 Months Ended
	Apr. 01, 2023	Mar. 31, 2023
Accrued Expenses and Other Current Liabilities (Details) [Line Items]
Payments of salaries, social security insurance		¥ 2.3
Subsequent Event [Member]
Accrued Expenses and Other Current Liabilities (Details) [Line Items]
Payments of salaries, social security insurance	¥ 10.2

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities		Sep. 30, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 CNY (¥)		Mar. 31, 2023 USD ($)		Mar. 31, 2022 CNY (¥)
Schedule Of Accrued Expenses And Other Current Liabilities Abstract
Salaries and social security insurance payable		¥ 55,003,111	[1]	$ 7,660,814	[1]	¥ 55,188,497	[1],[2]	$ 8,031,273	[2]	¥ 57,459,273	[2]
Promotion service fee	[3]	110,977,249		15,456,872		87,567,459
Taxes other than income tax						379,595		55,240		1,171,381
Late fees	[4]	10,219,206		1,423,327		9,927,056
Payable for property, plant and equipment		30,549,960		4,254,988		47,579,463
CDC transportation and storage fee		45,314,910		6,311,445		49,976,200
Guarantee deposits		121,848,973	[5]	16,971,082	[5]	108,795,884	[5],[6]	15,832,455	[6]	94,528,659	[6]
Professional service fees		2,290,725	[7]	319,051	[7]	5,121,970	[7],[8]	745,372	[8]	7,758,448	[8]
Interest payable		4,652,964	[9]	648,063	[9]	6,055,245	[9],[10]	881,186	[10]		[10]
Other		7,214,894	[11]	1,004,888	[11]	6,945,275	[11],[12]	1,010,707	[12]	7,653,291	[12]
Total		¥ 388,071,992		$ 54,050,530		¥ 377,536,644		$ 54,940,793		¥ 326,751,353
[1]This includes unpaid salaries and outstanding social security insurance. Salaries and social security insurance payables consist of the following:[2]This payable includes unpaid salaries and outstanding social security insurance. During fiscal 2023, YS Group paid approximately RMB2.3 million to reduce its payable for salaries and social security insurance. During the period from April 1, 2023 to the date of this report, YS Group paid approximately RMB10.2 million to reduce this payable. Salaries and social security insurance payables consist of the following:[3]Promotion service fee primarily is for the vaccine promotion, including design and implementation of academic activities, and collection of market information.[4]Late fees primarily are fees for corporate income tax, taxes other than income tax and social security insurance and housing reserve fund contributions due to the fact that YS Group failed to pay income tax for calendar 2011 to calendar 2013, taxes other than income tax for calendar 2014 to the beginning of calendar 2021 and social security insurance for calendar 2015 to the beginning of calendar 2021. As of June, 2021, YS Group paid the unpaid taxes, including income tax and other taxes other than income tax, as well as the late fees charge of them. From fiscal 2022, the late fee is incurred for unpaid social insurance.[5]Guarantee deposits primarily are refundable deposits paid to YS Group by external service providers to guarantee us that external service providers will provide us with high quality and reasonable professional services. The external service providers’ professional service scope includes conducting market research and analysis, monitoring product clinical information, collecting and reporting adverse events of the product use, providing academic visits and education seminars, assisting product shipment and payment collections. Their services don’t assume inventory risk for the vaccines before they are transferred to the end customers.[6]Guarantee deposits primarily represented refundable deposits paid to YS Group by external service providers as a measurement to guarantee YS Group that external service providers will provide YS Group with high quality and reasonable professional services. The external service providers’ professional service scope includes conducting market research and analysis, monitoring product clinical information, collecting and reporting adverse events of the product use, providing academic visits and education seminars, assisting product shipment and payment collections. Their services don’t assume inventory risk for the vaccines before they are transferred to the end customers.[7]Professional service fees primarily are from consultants and other advisors.[8]Professional service fees primarily represented service fees from consultants and other advisors.[9]Interest payable primarily is interest and royalties payable to R -Bridge -Bridge

Accrued Expenses and Other Cu_5

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Salaries and Social Security Insurance Payables	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of Salaries and Social Security Insurance Payables [Abstract]
Salaries	¥ 47,586,649	$ 6,627,852	¥ 47,390,831	$ 6,896,522	¥ 49,020,045
Social security insurance	6,808,494	948,285	7,179,828	1,044,840	7,732,161
Union Fee	607,968	84,677	617,838	89,911	707,067
Total	¥ 55,003,111	$ 7,660,814	¥ 55,188,497	$ 8,031,273	¥ 57,459,273

Warrants (Details)

Warrants (Details) - CNY (¥)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Mar. 31, 2022
Warrants (Details) [Line Items]
Value of private warrants (in Yuan Renminbi)	¥ 2,185,122	¥ 8,792,389
Change in fair value (in Yuan Renminbi)	¥ 6,900,000	¥ 21,358
Public Warrants [Member]
Warrants (Details) [Line Items]
Warrant shares	10,750,000
Private warrants shares		10,750,000
Private Warrants [Member]
Warrants (Details) [Line Items]
Warrant shares	6,000,000
Value of private warrants (in Yuan Renminbi)	¥ 2,185,122	¥ 8,792,389
Private warrants shares		6,000,000
Business Combination [Member] | Public Warrants [Member]
Warrants (Details) [Line Items]
Private warrants shares		10,000,000
Business Combination [Member] | Private Warrants [Member]
Warrants (Details) [Line Items]
Value of private warrants (in Yuan Renminbi)		¥ 8,700,000
Private warrants shares		6,000,000
YS Group [Member] | Public Warrants [Member]
Warrants (Details) [Line Items]
Warrant shares	10,000,000
YS Group [Member] | Private Warrants [Member]
Warrants (Details) [Line Items]
Warrant shares	6,000,000

Warrants (Details) - Schedule o

Warrants (Details) - Schedule of Private Warrants	12 Months Ended
	Sep. 30, 2023 $ / shares $ / item shares	Mar. 31, 2023 $ / shares $ / item shares
Schedule of Private Warrants [Abstract]
Fair value of the underlying asset as of the Valuation Date	$ 0.8	$ 1.6
Strike price (in Dollars per Item) | $ / item	11.5	11.5
Life to expiration (Years.)	4 years 6 months	4 years 10 months 24 days
Volatility	67%	62.90%
Number of steps (in Shares) | shares	100	100
Redemption price (per share)	$ 0.1	$ 0.1

Warrants (Details) - Schedule_2

Warrants (Details) - Schedule of Warrant Liabilities	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Schedule of Warrant Liabilities [Line Items]
Warrant liabilities beginning balance	¥ 8,792,389
Additions				8,814,592
Change in fair value	(6,851,308)	$ (954,248)		(21,358)	$ (3,108)
Foreign currency translation	244,041			(845)
Warrant liabilities ending balance	2,185,122			8,792,389
Warrant liabilities ending balance (in Dollars) | $		304,343			$ 1,279,507
Private warrants [Member]
Schedule of Warrant Liabilities [Line Items]
Warrant liabilities beginning balance	8,792,389
Additions
Change in fair value	(6,851,308)
Foreign currency translation	244,041
Warrant liabilities ending balance	¥ 2,185,122			¥ 8,792,389
Warrant liabilities ending balance (in Dollars) | $		$ 304,343

Warrants Accounted as Equity-_2

Warrants Accounted as Equity-Method Instruments (Details)	6 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Public warrants (in Shares) | shares	10,000,000	10,000,000
Sale in public warrants (in Shares) | shares	750,000	750,000
Exercise price of warrants (in Dollars per share) | $ / shares	$ 0.1	$ 0.1
Ordinary price per share (in Dollars) | $	$ 10	$ 10
Warrant redemption period	30 days	30 days
Warrant, description	(1) may be less than the value the holders would have received if they had exercised their Warrants at a later time where the underlying share price is higher and (2) may not compensate the holders for the value of the warrants, including because the number of YS Biopharma Ordinary Shares received is capped at 0.361 YS Biopharma Ordinary Shares per warrant (subject to adjustment) irrespective of the remaining life of the warrants	(1) may be less than the value the holders would have received if they had exercised their Warrants at a later time where the underlying share price is higher and (2) may not compensate the holders for the value of the warrants, including because the number of YS Biopharma Ordinary Shares received is capped at 0.361 YS Biopharma Ordinary Shares per warrant (subject to adjustment) irrespective of the remaining life of the warrants
Minimum [Member]
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Trading days	20	20
Maximum [Member]
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Trading days	30	30
Parent Company [Member]
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Exercise price of warrants (in Dollars per share) | $ / shares	$ 0.01	$ 0.01
Parent Company [Member] | Minimum [Member]
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Trading days	20	20
Parent Company [Member] | Maximum [Member]
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Trading days	30	30
Warrant [Member]
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Warrant redemption period	30 days	30 days
Business Combination [Member]
Warrants Accounted as Equity-Method Instruments (Details) [Line Items]
Ordinary price per share (in Dollars) | $	$ 18	$ 18

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)

6 Months Ended

12 Months Ended

Mar. 16, 2023 shares

Aug. 15, 2022 $ / shares shares

Dec. 31, 2020 shares

Aug. 01, 2018 shares

Jul. 25, 2018 $ / shares shares

Feb. 01, 2018 $ / shares shares

Jan. 01, 2015 shares

Jan. 01, 2014

Jun. 21, 2010 shares

Sep. 30, 2023 USD ($) shares

Mar. 31, 2023 CNY (¥) $ / shares shares

Mar. 31, 2022 shares

Mar. 31, 2023 USD ($)

Stock-Based Compensation (Details) [Line Items]

Annual grant

Issued Shares

143,750

Divided into six month periods

6 months

Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Grantee terminates

12 months

12 months

Share Incentive Plan 2010 [Member]

Stock-Based Compensation (Details) [Line Items]

Contractual term

10 years

Ordinary shares

2,725,650

Maximum number of shares percentage

1.50%

Vested over a period

3 years

3 years

Equal quarterly instalments

0.08%

0.08%

Option vested

100%

100%

Annual grant

127,500

Grantee terminates

5 years

Share Incentive Plan 2010 [Member] | Share-Based Payment Arrangement, Nonemployee [Member]

Stock-Based Compensation (Details) [Line Items]

Contractual term

10 years

Share Incentive Plan 2010 [Member] | Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Contractual term

10 years

Share Incentive Plan 2020 [Member]

Stock-Based Compensation (Details) [Line Items]

Ordinary shares

8,750,000

Fair value of the underlying ordinary shares

2,093,418

Shares reserved but not issued

6,656,582

Subscribe for ordinary shares

3,471,546

Issued Shares

143,750

Contractual Term [Member] | Share-Based Payment Arrangement, Nonemployee [Member]

Stock-Based Compensation (Details) [Line Items]

Contractual term

10 years

Contractual Term [Member] | Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Contractual term

10 years

Grantee Terminates [Member]

Stock-Based Compensation (Details) [Line Items]

Grantee terminates

5 years

Bonus Incentive Plan [Member]

Stock-Based Compensation (Details) [Line Items]

Contractual term

6 years

Divided periods

2

Divided into six month periods

6 months

Independent performance

1 month

Share-Based Payment Arrangement, Tranche One [Member]

Stock-Based Compensation (Details) [Line Items]

Vested over a period

3 years

Share-Based Payment Arrangement, Tranche One [Member] | Share Incentive Plan 2010 [Member]

Stock-Based Compensation (Details) [Line Items]

Fair value of the underlying ordinary shares

5,000

Restricted Stock Units (RSUs) [Member]

Stock-Based Compensation (Details) [Line Items]

Vested over a period

2 months

Group granted

692,500

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Nonemployee [Member]

Stock-Based Compensation (Details) [Line Items]

Group granted

270,000

Per share granted (in Dollars per share) | $ / shares

$ 1.84

$ 1.84

Unrecognized shares

$ 0

Independent directors

3

3

Awarded

7,500

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Group granted

692,500

Per share granted (in Dollars per share) | $ / shares

$ 7.24

Unrecognized shares

$ 0

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member]

Stock-Based Compensation (Details) [Line Items]

Vested over a period

3 months

Fair value of the underlying ordinary shares

30,000

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Fair value of the underlying ordinary shares

405,000

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Share Incentive Plan 2010 [Member]

Stock-Based Compensation (Details) [Line Items]

Fair value of the underlying ordinary shares

30,000

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Two [Member]

Stock-Based Compensation (Details) [Line Items]

Vested over a period

2 months

Fair value of the underlying ordinary shares

5,000

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Fair value of the underlying ordinary shares

287,500

287,500

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One, Vesting in Six Equal Semi-annual Installments [Member] | Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Vested over a period

3 years

Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One, Vesting in Eight Equal Semi-annual Installments [Member] | Share-Based Payment Arrangement, Employee [Member]

Stock-Based Compensation (Details) [Line Items]

Vested over a period

4 years

Share-Based Payment Arrangement [Member]

Stock-Based Compensation (Details) [Line Items]

YS Group registered shares (in Dollars per share) | $ / shares

$ 0.00002

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details) - Schedule of Exercise Prices and Exercise Periods, Giving Retroactive Effect of Combination	6 Months Ended	12 Months Ended
	Sep. 30, 2023 $ / shares shares	Mar. 31, 2023 $ / shares shares	Mar. 31, 2023 $ / shares ¥ / shares shares	Mar. 31, 2022 ¥ / shares shares	Mar. 31, 2023 ¥ / shares	Mar. 31, 2021 ¥ / shares
Schedule Of Exercise Prices And Exercise Periods Giving Retroactive Effect Of Combination Abstract
Number of share options, At the opening	3,253,565	3,253,565	3,253,565	3,253,565
Average exercise price per share option, At the opening (in Dollars per share) | (per share)		$ 29.3156	$ 29.3156	¥ 29.3156	¥ 32.402	¥ 29.3156
Number of share options, Granted during the period
Average exercise price per share option, Granted during the period (in Dollars per share) | (per share)
Number of share options, Forfeited during the period
Average exercise price per share option, Forfeited during the period (in Dollars per share) | (per share)
Number of share options, Exercised during the period
Average exercise price per share option, Exercised during the period (in Dollars per share) | (per share)
Number of share options, Expired during the period
Average exercise price per share option, Expired during the period (in Dollars per share) | (per share)
Number of share options, At the ending	3,253,565	3,253,565	3,253,565	3,253,565
Average exercise price per share option, At the ending	32 years 4 months 25 days	32 years 4 months 25 days	32 years 4 months 25 days		32 years 4 months 25 days

Stock-Based Compensation (Det_3

Stock-Based Compensation (Details) - Schedule of Exercise Prices and Exercise Periods of the Share Options Outstanding - $ / shares	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	3,253,565	3,253,565
Exercise Price One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	1,533,252	1,533,252
Exercise price (in Dollars per share)	$ 13.938	$ 13.938
Exercise Price One [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2021 years	2021 years
Exercise Price One [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2031 years	2031 years
Exercise Price Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	613,369	613,369
Exercise price (in Dollars per share)	$ 25.8524	$ 25.8524
Exercise Price Two [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2021 years	2021 years
Exercise Price Two [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2026 years	2026 years
Exercise Price Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	1,106,944	1,106,944
Exercise price (in Dollars per share)	$ 52.5376	$ 52.5376
Exercise Price Three [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2021 years	2021 years
Exercise Price Three [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2026 years	2026 years

Stock-Based Compensation (Det_4

Stock-Based Compensation (Details) - Schedule of Stock-Based Compensation Expense	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			¥ (85,316)	¥ 3,505,001	$ 510,063	¥ 7,764,448	¥ 76,756,500
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			(1,015,055)	(997,846)	(145,211)	975,171	4,200,464
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			¥ 929,739	¥ 4,502,847	$ 655,274	¥ 6,789,277	¥ 72,501,943

Related Party Transactions an_3

Related Party Transactions and Balances (Details)		12 Months Ended
	Jul. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Related Party Transactions and Balances (Details) [Line Items]
Purchase amount (in Dollars) | $	$ 20,000
Yisheng Biopharma Holding Ltd (Hong Kong) [Member]
Related Party Transactions and Balances (Details) [Line Items]
Amount lent to related party		¥ 2,966,777	¥ 30,088,833
Loan repaid		33,055,610
Amounts due from related party

Related Party Transactions an_4

Related Party Transactions and Balances (Details) - Schedule of Companies are Related Parties	6 Months Ended
	Sep. 30, 2023
Yisheng Biopharma Co., Ltd [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Yisheng Biopharma Holdings Ltd. [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Kaifeng Yisheng Pan-Asia Technology Co., Ltd [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Beijing Yisheng Xingye Technology Co., Ltd. [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Changchun Bailong Biotechnology Co., Ltd. [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Henan Yisheng Huizhong Health Services Co., Ltd. [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Henan Yisheng Biopharma Co., Ltd. [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Beijing Huaerdun Kangqi Biotechnology Co., Ltd. [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Liaoning Yisheng Pan-Asia [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	An entity controlled by Yi Zhang
Yi Zhang [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	Chairman of Board of Directors	[1]
Hui Shao [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	Chief Executive Officer
Nan Zhang [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	Daughter of the Chairman
Xu Zhang [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	Daughter of the Chairman
Rui Mi [Member]
Schedule of Companies are Related Parties [Line Items]
Name of related parties	Spouse of the Chairman
[1]On December 9, 2023, the Board, acting upon an ad hoc motion raised at a Board meeting, appointed Dr. Ajit Shetty, an independent director of YS Group, as an interim Chairperson of the Board for a six -month

Income Tax (Details)

Income Tax (Details)	1 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2023 USD ($)	Sep. 30, 2022	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021	Mar. 31, 2023 USD ($)
Income Tax (Details) [Line Items]
Statutory federal corporate income tax			25%	25%	25%	25%	25%
Uncertain tax positions
Singapore [Member]
Income Tax (Details) [Line Items]
Statutory federal corporate income tax			17%		17%
China [Member]
Income Tax (Details) [Line Items]
Enterprise income tax rate			25%		25%
High and new technology enterprises, income tax rate	15%	15%	15%		15%
Term for high and new technology enterprises status	3 years	3 years	3 years		3 years
United States [Member]
Income Tax (Details) [Line Items]
Statutory federal corporate income tax			21%		21%
State income tax rate			8.25%		8.25%
Philippines [Member]
Income Tax (Details) [Line Items]
State income tax rate			20%

Income Tax (Details) - Schedule

Income Tax (Details) - Schedule of Reconciliation of Statutory Rate to YS Group's Effective Tax Rate	6 Months Ended				12 Months Ended
	Sep. 30, 2023		Sep. 30, 2022		Mar. 31, 2023		Mar. 31, 2022		Mar. 31, 2021
Schedule of Reconciliation of Statutory Rate To Ys Groups Effective Tax Rate [Abstract]
PRC statutory income tax rate	25%		25%		25%		25%		25%
Effect of different tax rates in different jurisdictions	(14.93%)		(182.62%)		(36.00%)		(18.26%)		(20.56%)
Effect of PRC preferential tax rate	3.93%		(100.49%)		8.72%		4.56%		(0.77%)
Effect of R&D expenses deduction and other	11.94%		80.56%		25.50%		33.20%		7.80%
Temporary differences*	(0.71%)	[1]	5.03%	[1]	0.79%	[2]	4.88%	[2]	10.01%	[2]
Change in valuation allowance	(25.70%)		177.88%		(23.23%)		(44.47%)		(11.49%)
Effective tax rate	(0.47%)		5.36%		0.78%		4.91%		9.99%
[1]Temporary differences primarily are for impairment of inventories, property, plant and equipment and government grants.[2]Temporary differences primarily relate to impairment of inventories, property, plant and equipment and government grants.

Income Tax (Details) - Schedu_2

Income Tax (Details) - Schedule of Net Deferred Tax Assets	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Deferred tax assets:
Write-down of inventories to net realizable value	¥ 1,443,851	$ 201,099	¥ 716,917	$ 104,329	¥ 825,454
Impairment of property, plant and building	1,638,378	228,193	1,769,405	257,492	2,031,460
Deferred government grants	3,124,045	435,116	3,296,223	479,681	4,852,383
Losses available for offsetting against future taxable profits	39,366,020	10,792,055	39,366,020	5,728,716	58,257,270
Less: valuation allowance	(39,366,020)	(10,792,055)	(39,366,020)	(5,728,716)	(58,257,270)
Total deferred tax assets, net	6,206,274	864,408	5,782,545	841,502	7,709,297
Deferred tax liabilities:
Fair value adjustments arising from historical acquisition of subsidiaries	(3,480,340)	(484,741)	(3,876,964)	(564,193)	(4,670,213)
Total deferred tax liabilities	(3,480,340)	(484,741)	(3,876,964)	(564,193)	(4,670,213)
Net deferred tax asset	¥ 2,725,934	$ 379,667	¥ 1,905,581	$ 277,309	¥ 3,039,084

Deferred Government Grants (Det

Deferred Government Grants (Details) - CNY (¥) ¥ in Millions	6 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2024	Mar. 31, 2024
Deferred Government Grants (Details) [Line Items]
Government grants deferred		¥ 1.2	¥ 4	¥ 3.6
Government Assistance, Other Subsidies [Member]
Deferred Government Grants (Details) [Line Items]
Government grants income	13.5	13.2	15.7	20.8
Government Grants for Property, Plant and Equipment [Member]
Deferred Government Grants (Details) [Line Items]
Government grants income	0.3			18.5
Government grant recognized income	0.7		1.5
Amortized deferred government grant		0.7		1.4
Government Grants for Property, Plant and Equipment [Member] | Forecast [Member]
Deferred Government Grants (Details) [Line Items]
Current deferred					¥ 1.5	¥ 1.5
Current deferred government grant					¥ 18.4	19.1
Government Grants for Research and Development [Member]
Deferred Government Grants (Details) [Line Items]
Government grants income			9	2
Current deferred		0.8
Current deferred government grant		4.1	4.5
Government grant recognized income				¥ 0.8
Government Grants for Research and Development [Member] | Forecast [Member]
Deferred Government Grants (Details) [Line Items]
Current deferred						¥ 0.8
Government grants [Member]
Deferred Government Grants (Details) [Line Items]
Government grants income	¥ 2.5		¥ 0.1

Deferred Government Grants (D_2

Deferred Government Grants (Details) - Schedule of Deferred Government Grants	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Sep. 30, 2022 CNY (¥)
Deferred Government Grants [Member]
Government grants for property, plant and equipment
Total deferred government grants	¥ 24,754,358	$ 3,447,778	¥ 25,902,208
Less: current portion	2,295,701	319,744	2,295,701
Non-current portion	22,458,657	3,128,034	23,606,507
Government Grants [Member]
Government grants for property, plant and equipment
Other	10,709,509	1,491,616		¥ 13,230,141
Total	14,627,559	2,037,321		22,456,691
Government Grants for Property, Plant and Equipment [Member] | Deferred Government Grants [Member]
Government grants for property, plant and equipment
Balance at beginning of the period (audited)	20,575,012	2,865,680	22,030,690
Addition
Recognized as income	(727,839)	(101,373)	(1,455,678)
Subtotal	19,847,173	2,764,307	20,575,012
Government Grants for Property, Plant and Equipment [Member] | Government Grants [Member]
Government grants for property, plant and equipment
Subtotal	988,039	137,614		727,839
Government grants for property, plant and equipment
Specific subsidies	727,839	101,373		727,839
Other subsidies	260,200	36,241
Government Grants for Research and Development [Member] | Deferred Government Grants [Member]
Government grants for property, plant and equipment
Balance at beginning of the period (audited)	5,327,196	741,970	10,318,528
Addition			4,000,000
Recognized as income	(420,011)	(58,499)	(8,991,332)
Subtotal	4,907,185	683,471	¥ 5,327,196
Government Grants for Research and Development [Member] | Government Grants [Member]
Government grants for property, plant and equipment
Subtotal	2,930,011	408,091		8,498,711
Government grants for property, plant and equipment
Specific subsidies	420,011	58,499		8,498,711
Other subsidies	¥ 2,510,000	$ 349,592

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Millions	1 Months Ended		12 Months Ended
	Oct. 31, 2023 shares	Mar. 31, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2019 CNY (¥)	Mar. 31, 2018 CNY (¥)	Dec. 27, 2023 USD ($)
Commitments and Contingencies (Details) [Line Items]
Contract terminate		¥ 1,000,000
Payment of penalty (in Shares) | shares	2,180,000
Prepayment loan (in Dollars) | $							$ 40
Amount pay				¥ 278,707
Hebei Defense Biological Products Supply Center [Member]
Commitments and Contingencies (Details) [Line Items]
Payment amount						¥ 2,465,807
Compensation received						1,636,755
Balance compensation						¥ 829,052
Shenyang Haoyu Landscape Engineering Co., Ltd [Member]
Commitments and Contingencies (Details) [Line Items]
Payment amount			¥ 73,601
YS Group [Member]
Commitments and Contingencies (Details) [Line Items]
Payment amount			¥ 73,601
Chaoyang Center for Disease Control and Prevention [Member]
Commitments and Contingencies (Details) [Line Items]
Payment amount					¥ 416,900
Compensation received					380,000
Balance compensation					¥ 36,900

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of Purchase Raw Materials - 12 months ended Mar. 31, 2023	CNY (¥)	USD ($)	USD ($)
Schedule of Purchase Raw Materials [Abstract]
Research and development	¥ 143,463,250	$ 19,981,511,000,000
Purchase raw materials	25,563,268		$ 3,560,443
Total	¥ 169,026,518		$ 23,541,954

Segment Information (Details) -

Segment Information (Details) - Schedule of Non-Current Assets is Aggregated to form the Reportable Geographical Segment	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
PRC [Member]
Schedule of Non-Current Assets is Aggregated to form the Reportable Geographical Segment [Line Items]
Non-current assets	¥ 631,678,369	$ 87,979,939	¥ 645,210,788	$ 93,893,911	¥ 604,094,049
Other countries/regions [Member]
Schedule of Non-Current Assets is Aggregated to form the Reportable Geographical Segment [Line Items]
Non-current assets	¥ 4,638,477	$ 646,045	¥ 4,602,447

Subsequent Events (Details)

Subsequent Events (Details) - CNY (¥) ¥ in Millions

1 Months Ended

2 Months Ended

Jan. 08, 2024

Dec. 12, 2023

Dec. 06, 2023

Nov. 27, 2023

Nov. 21, 2023

Nov. 15, 2023

Oct. 17, 2023

Oct. 12, 2023

Jul. 19, 2023

Jul. 11, 2023

Jun. 07, 2023

May 29, 2023

Apr. 28, 2023

Jul. 18, 2023

Subsequent Events (Details) [Line Items]

Loan due date

November, 2024

Subsequent Event [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 49

¥ 6.7

Interest borrowing rate

4%

5.30%

Description loan due date

The loans are due from March, 2024 to November, 2025

Loan expired term

December 23, 2023

China Guangfa Bank Co., Ltd. [Member]

Subsequent Events (Details) [Line Items]

Loan due date

September 10, 2024

Minsheng Bank Shenyang Huanghe Street Branch [Member]

Subsequent Events (Details) [Line Items]

Loan due date

December 6, 2024

November, 2024

China Construction Bank Shenyang Heping Branch [Member]

Subsequent Events (Details) [Line Items]

Loan due date

November 14, 2025

October 15, 2025

China CITIC Bank Shenyang Tiexi Branch [Member]

Subsequent Events (Details) [Line Items]

Loan due date

May, 2024

Shanghai Pudong Development Bank Co., Ltd. [Member]

Subsequent Events (Details) [Line Items]

Loan due date

December 11, 2024

China Guangfa Bank Co., Ltd. [Member] | Subsequent Event [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 7.1

Interest borrowing rate

4.50%

China Guangfa Bank Co., Ltd. [Member] | Forecast [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 13.3

Interest borrowing rate

5.66%

Loan expired term

December 16, 2023

Minsheng Bank Shenyang Huanghe Street Branch [Member] | Subsequent Event [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 18.7

Interest borrowing rate

4%

Minsheng Bank Shenyang Huanghe Street Branch [Member] | Forecast [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 4.8

¥ 11.3

Interest borrowing rate

4%

4%

Loan expired term

July, 2024.

China Construction Bank Shenyang Heping Branch [Member] | Subsequent Event [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 2.9

¥ 1.9

¥ 10.3

Interest borrowing rate

4%

4%

4%

Loan expired term

November and December, 2024

China CITIC Bank Shenyang Tiexi Branch [Member] | Subsequent Event [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 6.9

Interest borrowing rate

4.55%

China CITIC Bank Shenyang Tiexi Branch [Member] | Forecast [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 4.5

¥ 3.6

Interest borrowing rate

4.55%

4.75%

Loan expired term

February, 2024 to May 2024

YS Group [Member]

Subsequent Events (Details) [Line Items]

Loan due date

May 2025

YS Group [Member] | China CITIC Bank Shenyang Tiexi Branch [Member]

Subsequent Events (Details) [Line Items]

Loan due date

November, 2025

YS Group [Member] | Forecast [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 16.4

Interest borrowing rate

5%

Shanghai Pudong Development Bank Co., Ltd Shenyang Branch [Member] | Forecast [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 5

Interest borrowing rate

4%

CITIC Financial Leasing Co., Ltd [Member] | Subsequent Event [Member]

Subsequent Events (Details) [Line Items]

Interest borrowings value

¥ 40

Interest borrowing rate

4.80%

Loan expired term

May 29, 2026

Parent Company Only Condensed_3

Parent Company Only Condensed Financial Information (Unaudited) (Details)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Parent Company Only Condensed Financial Information (Unaudited) (Details) [Line Items]
Subsidiaries exceed percentage	25%	25%
PRC [Member]
Parent Company Only Condensed Financial Information (Unaudited) (Details) [Line Items]
Subsidiaries exceed percentage	25%
PRC Subsidiaries [Member]
Parent Company Only Condensed Financial Information (Unaudited) (Details) [Line Items]
Subsidiaries exceed percentage		25%

Parent Company Only Condensed_4

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Balance Sheets - Parent Company [Member]	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)
Current Assets
Cash	¥ 200,226,800	$ 27,887,518	¥ 3,045,660
Prepaid expenses and other current assets	3,467,843	483,000
Amounts due from subsidiaries	874,990,142	121,868,317	1,039,986,896
Total current assets	1,078,684,785	150,238,835	1,043,032,556
Non-current assets
Long-term investments, net	165,851,381	23,099,722	158,734,357
Total non-current assets	165,851,381	23,099,722	158,734,357
Total Assets	1,244,536,166	173,338,557	1,201,766,913
Current Liabilities
Accrued expenses and other liabilities	681,685,969	94,944,980	461,105,636
Warrants liability	2,185,122	304,343	8,792,389
Amounts due to subsidiaries	3,568,745	497,054	3,415,603
Total current liabilities	687,439,836	95,746,377	473,313,628
Total Liabilities	687,439,836	95,746,377	473,313,628
Shareholders’ equity:
Ordinary shares, par value US$0.00002 per share; 9,950,000,000 shares authorized; 93,058,197 shares issued and outstanding;	12,297	1,713	12,297
Additional paid-in capital	2,656,891,036	370,050,842	2,656,891,036
Accumulated deficit	(2,048,560,763)	(285,322,817)	(1,874,037,965)
Accumulated other comprehensive loss	(51,246,240)	(7,137,558)	(54,412,083)
Total shareholders’ equity	557,096,330	77,592,180	728,453,285
Total liabilities and shareholders’ equity	¥ 1,244,536,166	$ 173,338,557	¥ 1,201,766,913

Parent Company Only Condensed_5

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Balance Sheets (Parentheticals) - Parent Company [Member]	Sep. 30, 2023 $ / shares shares	Sep. 30, 2023 ¥ / shares shares	Mar. 31, 2023 ¥ / shares shares
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share) | (per share)	$ 0.00002	¥ 0.00002	¥ 0.00002
Ordinary shares,shares authorized	9,950,000,000	9,950,000,000	9,950,000,000
Ordinary shares, shares issued	93,058,197	93,058,197	93,058,197
Ordinary shares, shares outstanding	93,058,197	93,058,197	93,058,197

Parent Company Only Condensed_6

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Statements of Operations and Comprehensive Loss - Parent Company [Member]		6 Months Ended
		Sep. 30, 2023 CNY (¥) ¥ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 CNY (¥) ¥ / shares shares
Condensed Income Statements, Captions [Line Items]
Equity loss of subsidiaries		¥ (172,494,083)	$ (24,024,916)	¥ (5,703,582)
Operating expenses:
General and administrative		10,798,610	1,504,027	6,356,204
Research and development				(934,367)
Total operating expenses		10,798,610	1,504,027	5,421,837
Loss from operations		(183,292,693)	(25,528,943)	(11,125,419)
Other income:
Interest income		1,918,587	267,220	54
Fair value changes of warrant liability		6,851,308	954,248
Total other income, net		8,769,895	1,221,468	54
Net loss		(174,522,798)	(24,307,475)	(11,125,365)
Accretion to redemption value of convertible redeemable preferred shares				(72,083,238)
Foreign currency translation (loss) gain		3,165,843	440,937	(168,653,952)
Total comprehensive loss		¥ (171,356,955)	$ (23,866,538)	¥ (179,779,317)
Loss per share*:
Basic (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	¥ (1.88)	$ (0.26)	¥ (0.18)
Weighted average number of ordinary shares outstanding*:
Basic (in Shares)	[1]	93,058,197	93,058,197	61,785,466
Net loss attributable to YS Biopharma		¥ (174,522,798)	$ (24,307,475)	¥ (83,208,603)
[1]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.

Parent Company Only Condensed_7

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Statements of Operations and Comprehensive Loss (Parentheticals) - Parent Company [Member]		6 Months Ended
		Sep. 30, 2023 $ / shares shares	Sep. 30, 2023 ¥ / shares shares	Sep. 30, 2022 ¥ / shares shares
Condensed Income Statements, Captions [Line Items]
Diluted (in Dollars per share) (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	$ (0.26)	¥ (1.88)	¥ (0.18)
Diluted (in Dollars per share)	[1]	93,058,197	93,058,197	61,785,466
[1]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.

Parent Company Only Condensed_8

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Statements of Cash Flows - Parent Company [Member]	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)
Condensed Cash Flow Statements, Captions [Line Items]
Net loss	¥ (174,522,798)	$ (24,307,475)	¥ (11,125,365)
Equity loss of subsidiaries	172,494,083	24,024,916	5,703,582
Share-based compensation			(85,316)
Fair value changes of warrant liability	(6,851,308)	(954,248)
Amounts due from subsidiaries	164,996,754	22,980,689	(328,910,623)
Amounts due to subsidiaries	153,142	21,330	373,586
Prepaid expenses and other current assets	(3,467,843)	(483,000)
Accrued expenses and other liabilities	37,562,847	5,231,740	55,467,639
Net cash (used in) provided by operating activities	190,364,877	26,513,951	(278,576,497)
Effect of exchange rate on cash	6,816,263	949,369	29,908,137
Net (decrease) increase in cash	197,181,140	27,463,320	(248,668,360)
Cash at the beginning of the period	3,045,660	424,198	252,611,535	¥ 252,611,535
Cash at the end of the period	200,226,800	27,887,518	3,943,175	¥ 3,045,660
Non-cash transactions:
Accretion to redemption value of convertible redeemable preferred shares			72,083,238
Previously Reported [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Equity loss of subsidiaries	¥ 172,494,083	$ 24,024,915	¥ 5,703,582

Organization and Business Des_5

Organization and Business Description (Details) - Schedule of Ys Group's Current Legal Entity	6 Months Ended		12 Months Ended
	Sep. 30, 2023		Mar. 31, 2023
YS Biopharma Co., Ltd. (“YS Biopharma”) [Member]
Schedule of YS Group's Current Legal Entity [Abstract]
Nature of Operations			Holding Company
Date of Incorporation			Nov. 16, 2020
Place of Incorporation			Cayman Islands
YishengBio (Hong Kong) Holdings Limited (“HK Yisheng”) [Member]
Schedule of YS Group's Current Legal Entity [Abstract]
Nature of Operations			Holding Company
Date of Incorporation			Dec. 28, 2020
Place of Incorporation			Hong Kong
Yisheng Biopharma (Singapore) Pte. Ltd. (“Singapore Yisheng”) [Member]
Schedule of YS Group's Current Legal Entity [Abstract]
Nature of Operations	Research and development of vaccines and therapeutic biologics	[1]	Research and development of vaccines and therapeutic biologics
Date of Incorporation	Nov. 28, 2009	[1]	Nov. 28, 2009
Place of Incorporation	Singapore	[1]	Singapore
Yisheng US Biopharma Inc. (“US Yisheng”) [Member]
Schedule of YS Group's Current Legal Entity [Abstract]
Nature of Operations	Research of vaccines and therapeutic biologics		Research of vaccines and therapeutic biologics
Date of Incorporation	Sep. 29, 2009		Sep. 29, 2009
Place of Incorporation	US		US
Liaoning Yisheng Biopharma Co., Ltd. (“Liaoning Yisheng”) [Member]
Schedule of YS Group's Current Legal Entity [Abstract]
Nature of Operations	Research and development, manufacturing and commercialization of vaccines and therapeutic biologics	[2]	Research and development, manufacturing and commercialization of vaccines and therapeutic biologics
Date of Incorporation	May 26, 1994	[2]	May 26, 1994
Place of Incorporation	PRC	[2]	PRC
Beijing Yisheng Biotechnology Co., Ltd. (“Beijing Yisheng”) [Member]
Schedule of YS Group's Current Legal Entity [Abstract]
Nature of Operations	Research and development of vaccines and therapeutic biologics		Research and development of vaccines and therapeutic biologics
Date of Incorporation	Feb. 04, 2021		Feb. 04, 2021
Place of Incorporation	PRC		PRC
Hudson Biomedical Group Co., Ltd. [Member]
Schedule of YS Group's Current Legal Entity [Abstract]
Nature of Operations	Purpose of effecting a merger		Purpose of effecting a merger
Date of Incorporation	Aug. 15, 2022		Aug. 15, 2022
Place of Incorporation	Cayman Islands		Cayman Islands
[1]Singapore Yisheng was incorporated November 28, 2009, and acquired by YS Group in fiscal 2011[2]Liaoning Yisheng was incorporated May 26, 1994, and acquired by YS Group in fiscal 2005.

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS	6 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
United States of America, Dollars [Member]
Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS [Abstract]
Currency exchange rates as of Balance Sheet	7.1798		6.8717	6.3482
Currency exchange rates, Profit/Loss	7.0258	6.724	6.61	6.4598	6.8282
Singapore, Dollars [Member]
Schedule of Currency Exchange Rates Used in Preparing YS Group's CFS [Abstract]
Currency exchange rates as of Balance Sheet	5.2599		5.176	4.6932
Currency exchange rates, Profit/Loss	5.218	4.8325	4.9346	4.785	4.9246

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life	12 Months Ended
	Mar. 31, 2023	Sep. 30, 2023
Plant and building [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	6 years	6 years
Plant and building [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	20 years	20 years
Machinery and Equipment [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	5 years	5 years
Machinery and Equipment [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	10 years	10 years
Furniture and Fixtures [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	3 years	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	7 years	7 years
Motor vehicle [Member] | Minimum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	4 years
Motor vehicle [Member] | Maximum [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Estimated useful life of property, plant and equipment	5 years
Leasehold improvement [Member]
Schedule of Property, Plant and Equipment to its Residual Value Over its Estimated Useful Life [Abstract]
Leasehold improvement	Lesser of the lease term or life of assets

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details) - Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases - Total purchases [Member] - Vendors concentration risk [Member]	12 Months Ended
	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 CNY (¥)	Mar. 31, 2021 USD ($)
Vendor A [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues	¥ 48,006,500	$ 6,986,117	¥ 35,172,250	$ 5,540,508	¥ 32,063,500	$ 4,879,324
Concentration risk	37.90%	37.90%	20.90%	20.90%	37.90%	37.90%
Vendor F [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues	¥ 15,178,020	$ 2,208,772			¥ 5,781,888	$ 879,870
Concentration risk	12%	12%			6.80%	6.80%
Vendor G [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues	¥ 10,053,600	$ 1,463,044			¥ 4,862,320	$ 739,933
Concentration risk	7.90%	7.90%			5.70%	5.70%
Vendor H [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues	¥ 6,846,214	$ 996,291			¥ 3,199,200	$ 486,844
Concentration risk	5.40%	5.40%			3.80%	3.80%
Vendor C [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues	¥ 4,746,530	$ 690,736	¥ 9,995,189	$ 1,574,492	¥ 4,568,088	$ 695,157
Concentration risk	3.70%	3.70%	5.90%	5.90%	5.40%	5.40%
Vendors [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues	¥ 84,830,864	$ 12,344,960	¥ 75,442,385	$ 11,884,060	¥ 50,474,996	$ 7,681,128
Concentration risk	66.90%	66.90%	44.70%	44.70%	59.60%	59.60%
Vendor B [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues			¥ 16,227,146	$ 2,556,181
Concentration risk			9.60%	9.60%
Vendor D [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues			¥ 7,426,500	$ 1,169,859
Concentration risk			4.40%	4.40%
Vendor E [Member]
Schedule of Percentage of YS Group's Top 5 Vendors Accounting for Total Purchases [Abstract]
Cost of revenues			¥ 6,621,300	$ 1,043,020
Concentration risk			3.90%	3.90%

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Details) - Schedule of Percentage of YS Group’s Top 5 Vendors Accounting for Accounts Payable - Accounts Payable [Member] - Vendors concentration risk [Member]	6 Months Ended		12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)
Vendor A [Member]
Schedule of Percentage of Ys Group’s Top 5 Vendors Accounting for Accounts Payable [Abstract]
Accounts payable		¥ 21,661,500	¥ 3,220,000			$ 468,589	$ 3,051,001
Concentration risk		38.80%	4%
Vendor F [Member]
Schedule of Percentage of Ys Group’s Top 5 Vendors Accounting for Accounts Payable [Abstract]
Accounts payable	¥ 26,744,400		¥ 420		$ 3,724,951	61
Concentration risk	28.80%		0%
Vendor H [Member]
Schedule of Percentage of Ys Group’s Top 5 Vendors Accounting for Accounts Payable [Abstract]
Accounts payable	¥ 4,799,409		¥ 16,118		$ 668,460	2,346
Concentration risk	5.20%		0%
Vendors [Member]
Schedule of Percentage of Ys Group’s Top 5 Vendors Accounting for Accounts Payable [Abstract]
Accounts payable			¥ 3,236,538	¥ 1,420,549		$ 470,996		$ 223,772
Concentration risk			4%	4.60%
Vendor E [Member]
Schedule of Percentage of Ys Group’s Top 5 Vendors Accounting for Accounts Payable [Abstract]
Accounts payable		¥ 1,859,500		¥ 1,420,549			$ 261,909	$ 223,772
Concentration risk		3.30%		4.60%

Accounts Receivable, Net (Det_3

Accounts Receivable, Net (Details) - Schedule of Accounts Receivable, Net	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of Accounts Receivable, Net [Abstract]
Trade receivables	¥ 459,077,454	$ 63,940,145	¥ 487,418,616	$ 70,931,300	¥ 322,170,980
Allowance for doubtful accounts	(29,708,520)	(4,137,792)	(24,366,824)	(3,545,967)	(13,615,875)
Accounts receivable, net	¥ 429,368,934	$ 59,802,353	¥ 463,051,792	$ 67,385,333	¥ 308,555,105

Accounts Receivable, Net (Det_4

Accounts Receivable, Net (Details) - Schedule of Allowance for Doubtful Accounts	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)
Schedule of analysis of the movements in the allowance for doubtful account [Abstract]
Balance at beginning of the year	¥ 24,366,824		¥ 13,615,875	¥ 13,615,875		¥ 8,530,951	$ 3,393,802	$ 1,981,442
Additions	5,341,696	$ 743,990	6,447,110	10,750,949	$ 1,564,525	5,084,924
Balance at end of the year	¥ 29,708,520		¥ 20,062,985	¥ 24,366,824		¥ 13,615,875	$ 4,137,792	$ 3,545,967

Inventories, Net (Details) - _3

Inventories, Net (Details) - Schedule of Inventories	Sep. 30, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 CNY (¥)		Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of inventories [Abstract]
Raw materials	¥ 63,425,030		$ 8,833,816		¥ 50,453,180		$ 7,342,169	¥ 57,926,980
Work in progress	40,767,989		5,678,151		61,275,177		8,917,033	40,795,744
Finished goods	118,253,022	[1]	16,470,239	[1]	78,432,041	[1]	11,413,775	73,285,870
Allowance for slow-moving or obsolete inventories					(4,779,446)		(695,526)	(5,503,029)
Inventories, net	¥ 212,820,371		$ 29,641,546		¥ 185,380,952		$ 26,977,451	¥ 166,505,565
[1]From March 2023, Liaoning Yisheng manufactures Yivyka Injection which obtained a pharmaceutical marketing authorization in Cambodia. All the Yivyka Injection will be exported to Cambodia and not marketed in PRC. As of September 30, 2023, approximately RMB1.0 million of Yivyka Injection was recorded in finished goods.

Inventories, Net (Details) - _4

Inventories, Net (Details) - Schedule of Movements in the Allowance for Slow-Moving or Obsolete Inventories	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of movements in the allowance for slow-moving or obsolete inventories [Abstract]
Balance at beginning of the year	¥ 4,779,446	$ 695,526	¥ 5,503,029	¥ 5,503,029	$ 800,825	¥ 41,301,797
Additions	10,678,694	1,487,325		3,670,046	534,081	4,393,629
Inventories written off	¥ (5,832,470)	$ (812,344)	¥ (4,393,629)	(4,393,629)	(639,380)	(40,192,397)
Balance at end of the year				¥ 4,779,446	$ 695,526	¥ 5,503,029

Property, Plant and Equipment_5

Property, Plant and Equipment, Net (Details) - Schedule of Property, Plant and Equipment	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Cost
Total Cost	¥ 786,967,084	$ 109,608,497	¥ 780,512,580	$ 113,583,622	¥ 730,447,603
Less: accumulated depreciation	(195,396,698)	(27,214,783)	(178,864,241)	(26,029,112)	(150,402,597)
Less: asset impairment	(29,891,896)	(4,163,333)	(29,891,896)	(4,349,998)	(29,891,896)
Property and equipment, net	561,678,490	78,230,381	571,756,443	83,204,512	550,153,110
Construction in Progress [Member]
Cost
Total Cost	274,132,838	38,181,125	309,948,621	45,105,086	318,000,074
Plant and Buildings [Member]
Cost
Total Cost			178,756,490	26,013,430	170,206,987
Machinery and Equipment [Member]
Cost
Total Cost	241,771,870	33,673,900	237,637,928	34,582,116	194,875,303
Electronic Equipment [Member]
Cost
Total Cost	11,314,439	1,575,871	11,117,440	1,617,859	10,107,578
Motor Vehicles [Member]
Cost
Total Cost	3,252,678	453,032	3,031,087	441,097	2,978,155
Office Equipment and Furniture [Member]
Cost
Total Cost	38,522,520	5,365,403	34,423,995	5,009,531	29,888,526
Leasehold Improvements [Member]
Cost
Total Cost	¥ 1,933,197	$ 269,255	¥ 5,597,019	$ 814,503	¥ 4,390,980

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets, Net (Details) - Schedule of Prepaid Expenses and Other Current Asset, Net	Sep. 30, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 CNY (¥)		Mar. 31, 2023 USD ($)		Mar. 31, 2022 CNY (¥)
Schedule of prepaid expenses and other current assets [Abstract]
Deposits	¥ 4,204,925	[1]	$ 585,660	[1]	¥ 4,339,791	[1],[2]	$ 631,545	[2]	¥ 2,807,847	[2]
Staff advances	283,299	[3]	39,458	[3]	606,859	[3],[4]	88,313	[4]	383,251	[4]
Staff’s social security	242,753	[5]	33,811	[5]	252,090	[5],[6]	36,685	[6]	615,581	[6]
Value added tax recoverable	1,665,748	[7]	232,005	[7]	4,249,718	[7],[8]	618,438	[8]	3,442,733	[8]
Clinical trial insurance		[9]		[9]	178,699	[9],[10]	26,005			[10]
Other receivable	1,592,850	[11]	221,851	[11]	901,355	[11]	131,169	[12]	854,245	[12]
Allowance	(115,743)	[13]	(16,121)	[13]	(115,743)	[13],[14]	(16,843)	[14]	(115,743)	[14]
Total	¥ 11,341,675		$ 1,579,664		¥ 10,412,769		$ 1,515,312		¥ 7,987,914
[1]Deposits primarily are deposits to Centers for Disease Control and Prevention (“CDCs”) for participation in the public tender process held by province -level -level -added -added -19 -19 -19 -19

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Schedule of Intangible Assets	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Finite-Lived Intangible Assets [Line Items]
Total Cost	¥ 157,225,338	$ 21,898,290	¥ 157,225,338	$ 22,880,123	¥ 152,933,740
Less: Accumulated Amortization	(82,586,982)	(11,502,686)	(79,168,546)	(11,520,955)	(72,215,762)
Intangible Assets, net	74,638,356	10,395,604	78,056,792	11,359,168	80,717,978
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Total Cost	79,608,000	11,087,774	79,608,000	11,584,906	79,608,000
Licenses, Software and Laboratory Information System [Member]
Finite-Lived Intangible Assets [Line Items]
Total Cost	10,435,478	1,453,450	10,435,478	1,518,617	6,143,880
Land Use Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Total Cost	¥ 67,181,860	$ 9,357,066	¥ 67,181,860	$ 9,776,600	¥ 67,181,860

Bank Loans and Other Borrowin_6

Bank Loans and Other Borrowings (Details) - Schedule of Bank Loans and Other Borrowings		6 Months Ended		12 Months Ended
		Sep. 30, 2023 CNY (¥)		Mar. 31, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 USD ($)		Mar. 31, 2022 CNY (¥)
Schedule of Bank Loans [Abstract]
Bank loans due within one year		¥ 182,741,935		¥ 193,736,563		$ 25,452,232		$ 28,193,397		¥ 111,733,754
Long-term bank loans		361,965,073		293,790,596		50,414,367		42,753,699		253,928,000
Total bank loans		544,707,008		487,527,159		75,866,599		70,947,096		365,661,754
China Guangfa Bank Co., Ltd. – Shenyang Branch [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year		¥ 45,351,601	[1]	¥ 41,191,031	[1],[2]	$ 6,316,555	[1]	$ 5,994,300	[2]	46,456,142	[2]
Maturity Date		2023/12/16 –2024/3/12	[1]	2023/10/13 –2023/12/16	[2]
Interest Rate		5.66%	[1]	5.66%	[2]	5.66%	[1]	5.66%	[2]
Shanghai Pudong Development Bank Co., Ltd Shenyang Branch [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year			[3]	¥ 82,964,518	[3],[4]		[3]	$ 12,073,361	[4]	64,647,870	[4]
Maturity Date		2023/6/29 –2023/12/12	[3]	2023/6/29 –2023/12/12	[4]
Interest Rate		5.30%	[3]	5.30%	[4]	5.30%	[3]	5.30%	[4]
Citi Bank [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year	[5]									234,743
Maturity Date	[5]			2022/5/1
Interest Rate	[5]			1%				1%
R-Bridge Healthcare Fund, LP [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year	[6]									394,999
Maturity Date	[6]			2026/9/15
Interest Rate	[6]			4%				4%
Long-term bank loans		¥ 287,192,000	[7]	¥ 274,868,000	[6],[7]	$ 40,000,000	[7]	$ 40,000,000	[6]	253,928,000	[6]
Maturity Date	[6]			Sep. 15, 2026				Sep. 15, 2026
Interest Rate		4%	[7]	4%	[6]	4%	[7]	4%	[6]
China CITIC Bank Shenyang Tiexi Branch [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year		¥ 36,424,414	[8]	¥ 23,596,350	[8],[9]	$ 5,073,179	[8]	$ 3,433,845	[9]		[9]
Maturity Date		2023/10/13 –2024/5/29	[8]	2023/10/13 –2023/11/9	[9]
Interest Rate		5%	[8]	5%	[9]	5%	[8]	5%	[9]
China CITIC Bank Shenyang Tiexi Branch2 [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year	[10]			¥ 5,000,000				$ 727,622
Maturity Date	[10]			2023/5/25 –2023/7/17
Interest Rate	[10]			3.25%				3.25%
China Construction Bank Shenyang Heping Branch [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year		¥ 33,160,000	[11]	¥ 31,330,000	[11],[12]	$ 4,618,513	[11]	$ 4,559,279	[12]		[12]
Maturity Date		2023/11/21 –2024/8/31	[11]	2023/9/8 –2023/11/24	[12]
Interest Rate		4%	[11]	4%	[12]	4%	[11]	4%	[12]
China Construction Bank Shenyang Heping Branch [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year	[13]			¥ 988,000				$ 143,778
Maturity Date	[13]			2024/1/12
Interest Rate	[13]			3.90%				3.90%
Zhongguancun Technology Leasing Co., Ltd [Member]
Schedule of Bank Loans [Abstract]
Bank loans due within one year		¥ 8,666,664	[14]	¥ 8,666,664	[14],[15]	$ 1,207,090	[14]	$ 1,261,212	[15]		[15]
Maturity Date		2025/11/7	[14]	2025/11/7	[15]
Interest Rate		5%	[14]	5%	[15]	5%	[14]	5%	[15]
Long-term bank loans	[15]			¥ 14,492,596				$ 2,109,026
Maturity Date	[15]			Nov. 07, 2025				Nov. 07, 2025
Interest Rate	[15]			5%				5%
China Construction Bank Shenyang Heping Branch [Member]
Schedule of Bank Loans [Abstract]
Long-term bank loans	[16]			¥ 4,430,000				$ 644,673
Maturity Date	[16]			Sep. 16, 2024				Sep. 16, 2024
Interest Rate	[16]			4%				4%
[1]On September 13, 2021, YS Group entered into a credit facility of RMB100 million with China Guangfa Bank Co., Ltd. Shenyang Branch for three three three three -Bridge -Bridge

Bank Loans and Other Borrowin_7

Bank Loans and Other Borrowings (Details) - Schedule of Aggregate Outstanding Principal Amount - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	$ 40,000,000	$ 40,000,000
April 7, 2025 [Member]
Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
July 7, 2025 [Member]
Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
October 7, 2025 [Member]
Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
January 7, 2026 [Member]
Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
April 7, 2026 [Member]
Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	6,400,000	6,400,000
July 7, 2026 [Member]
Schedule of Aggregate Outstanding Principal Amount [Line Items]
Repayment Instalment	$ 8,000,000	$ 8,000,000

Leases (Details) - Schedule o_4

Leases (Details) - Schedule of Operating Leases	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of Operating Leases [Abstract]
Operating lease ROU assets	¥ 9,607,109	$ 1,338,075	¥ 11,132,428	$ 1,620,040	¥ 14,850,283
Operating lease liabilities – current	5,027,649	700,249	4,753,547	691,757	4,322,252
Operating lease liabilities – non-current	¥ 4,462,505	$ 621,536	¥ 6,348,890	$ 923,918	¥ 10,605,260
Weighted average remaining lease term	2 years	2 years	2 years 6 months	2 years 6 months	3 years 4 months 24 days
Weighted average discount rate	4.90%	4.90%	4.70%	4.70%	4.80%

Leases (Details) - Schedule o_5

Leases (Details) - Schedule of Lease Cost Recognized Supplemental Cash Flow Information Related to Operating Leases	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Schedule of Lease Cost Recognized Supplemental Cash Flow Information Related to Operating Leases [Abstract]
Operating lease cost	¥ 2,711,527	$ 377,661	¥ 2,508,388	¥ 5,002,684	$ 728,013	¥ 4,594,967	¥ 2,643,917
Cash paid for operating leases	¥ 2,822,023	$ 393,050	¥ 786,888	¥ 3,349,856	$ 487,486	¥ 4,587,894	¥ 2,601,625

Leases (Details) - Schedule o_6

Leases (Details) - Schedule of Maturity of Operating Lease Liabilities under the Non-cancelable Operating Leases	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)
Schedule of Maturity of Operating Lease Liabilities under the Non-cancelable Operating Leases [Abstract]
2024	¥ 5,332,992	$ 742,777	¥ 5,178,993	$ 753,670
2025	4,275,341	595,468	5,040,835	733,564
2026	357,806	49,835	1,526,270	222,110
Total lease payments	9,966,139	1,388,080	11,746,098	1,709,344
Less: Interest	(475,985)	(66,295)	(643,661)	(93,669)
Present value of operating lease liabilities	¥ 9,490,154	$ 1,321,785	¥ 11,102,437	$ 1,615,675

Accrued Expenses and Other Cu_6

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities		12 Months Ended
		Mar. 31, 2023 CNY (¥)		Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)		Sep. 30, 2023 CNY (¥)		Sep. 30, 2023 USD ($)		Mar. 31, 2023 USD ($)
Schedule of Accrued Expenses and Other Current Liabilities [Abstract]
Salaries and social security insurance payable		¥ 55,188,497	[1],[2]		¥ 57,459,273	[2]	¥ 55,003,111	[1]	$ 7,660,814	[1]	$ 8,031,273	[2]
Promotion service fee	[3]	87,567,459			64,883,477						12,743,202
Taxes other than income tax		379,595			1,171,381						55,240
Late fees	[4]	9,927,056			9,499,595						1,444,629
Payable for property, plant and equipment		47,579,463			48,774,134						6,923,973
CDC transportation and storage fee		49,976,200			35,023,095						7,272,756
Guarantee deposits		108,795,884	[5],[6]		94,528,659	[6]	121,848,973	[5]	16,971,082	[5]	15,832,455	[6]
Professional service fee		5,121,970	[7],[8]		7,758,448	[8]	2,290,725	[7]	319,051	[7]	745,372	[8]
Interest payable		6,055,245	[9],[10]			[10]	4,652,964	[9]	648,063	[9]	881,186	[10]
Other payable		6,945,275	[11],[12]		7,653,291	[11]	¥ 7,214,894	[12]	$ 1,004,888	[12]	$ 1,010,707	[11]
Total		¥ 377,536,644		$ 54,940,793	¥ 326,751,353
[1]This includes unpaid salaries and outstanding social security insurance. Salaries and social security insurance payables consist of the following:[2]This payable includes unpaid salaries and outstanding social security insurance. During fiscal 2023, YS Group paid approximately RMB2.3 million to reduce its payable for salaries and social security insurance. During the period from April 1, 2023 to the date of this report, YS Group paid approximately RMB10.2 million to reduce this payable. Salaries and social security insurance payables consist of the following:[3]Promotion service fee primarily represents fees for the vaccine promotion, including design and implementation of academic activities, and collection of market information.[4]Late fees primarily represent late fees related to corporate income tax, taxes other than income tax and social security insurance and housing reserve fund contributions due to the fact that YS Group failed to pay the income tax related to calendar year 2011 to calendar year 2013, taxes other than income tax related to calendar year 2014 to the beginning of calendar year 2021 and social security insurance related to calendar year 2015 to the beginning of calendar year 2021. As of June, 2021, YS Group has fully paid the unpaid taxes, including income tax and other taxes other than income tax, as well as the late fees charge of them. From fiscal year 2022, the late fee is incurred for unpaid social insurance.[5]Guarantee deposits primarily are refundable deposits paid to YS Group by external service providers to guarantee us that external service providers will provide us with high quality and reasonable professional services. The external service providers’ professional service scope includes conducting market research and analysis, monitoring product clinical information, collecting and reporting adverse events of the product use, providing academic visits and education seminars, assisting product shipment and payment collections. Their services don’t assume inventory risk for the vaccines before they are transferred to the end customers.[6]Guarantee deposits primarily represented refundable deposits paid to YS Group by external service providers as a measurement to guarantee YS Group that external service providers will provide YS Group with high quality and reasonable professional services. The external service providers’ professional service scope includes conducting market research and analysis, monitoring product clinical information, collecting and reporting adverse events of the product use, providing academic visits and education seminars, assisting product shipment and payment collections. Their services don’t assume inventory risk for the vaccines before they are transferred to the end customers.[7]Professional service fees primarily are from consultants and other advisors.[8]Professional service fees primarily represented service fees from consultants and other advisors.[9]Interest payable primarily is interest and royalties payable to R -Bridge -Bridge

Accrued Expenses and Other Cu_7

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Salaries and Social Security Insurance Payables	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Schedule of Salaries and Social Security Insurance Payables [Abstract]
Salaries	¥ 47,586,649	$ 6,627,852	¥ 47,390,831	$ 6,896,522	¥ 49,020,045
Social security insurance	6,808,494	948,285	7,179,828	1,044,840	7,732,161
Union Fee	607,968	84,677	617,838	89,911	707,067
Total	¥ 55,003,111	$ 7,660,814	¥ 55,188,497	$ 8,031,273	¥ 57,459,273

Convertible Redeemable Prefer_3

Convertible Redeemable Preferred Shares (Details) - USD ($)			1 Months Ended		12 Months Ended
	Sep. 04, 2020	Dec. 10, 2012	Feb. 28, 2021	Jan. 31, 2021	Mar. 31, 2023	Mar. 16, 2023	Mar. 31, 2022
Convertible Redeemable Preferred Shares (Details) [Line Items]
Convertible redeemable preferred share par value (in Dollars per share)					$ 0.00002	$ 0.00002
Series A Liquidation Preference [Member]
Convertible Redeemable Preferred Shares (Details) [Line Items]
Convertible preferred share		21,548,589
Per share (in Dollars per share)		$ 0.93
Total cash consideration (in Dollars)		$ 20,000,000
Series A transferred shares	6,014,313	6,014,313
Temporary equity, shares Issued							15,534,276
Interest rate					8%
Annual compound interest					17%
Series A-1 Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares (Details) [Line Items]
Temporary equity, shares Issued							6,014,313
Series B Liquidation Preference [Member]
Convertible Redeemable Preferred Shares (Details) [Line Items]
Per share (in Dollars per share)				$ 2.0703
Total cash consideration (in Dollars)			$ 3,000,000	$ 88,000,000
Accrued interest (in Dollars)				$ 20,389,315
Converted preferred shares				18,393,610
Per share (in Dollars per share)				$ 1.1085
Convertible Notes and converted preferred shares				9,660,324
Convertible preferred shares			1,231,679	36,129,245
Interest rate					8%
Annual compound interest					8%

Convertible Redeemable Prefer_4

Convertible Redeemable Preferred Shares (Details) - Schedule of Outstanding Convertible Redeemable Preferred Shares	12 Months Ended
	Mar. 31, 2023 CNY (¥) shares	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 CNY (¥) shares	Mar. 31, 2022 USD ($) shares	Mar. 31, 2021 CNY (¥) shares	Mar. 31, 2021 USD ($) shares
Redeemable Noncontrolling Interest [Line Items]
Balance at the beginning	¥ 1,370,221,392	$ 215,844,081	¥ 1,285,458,571	$ 202,491,820	¥ 440,585,213	$ 69,403,171
Conversion of convertible notes					131,425,527	20,702,802
Call option under convertible notes					131,425,290	20,702,765
New insurance					597,987,709	94,197,995
Shares transferred
Accretion to redemption value	137,991,697	20,081,159	130,662,326	20,582,579	16,610,297	2,616,536
Converted to ordinary shares	(1,626,670,769)	(236,720,284)
Foreign currency translation adjustment	118,457,680	795,044	(45,899,505)	(7,230,318)	(32,575,465)	(5,131,449)
Balance at the ending			¥ 1,370,221,392	$ 215,844,081	¥ 1,285,458,571	$ 202,491,820
Series A Redeemable Convertible Preferred Stock [Member]
Redeemable Noncontrolling Interest [Line Items]
Balance at the beginning (in Shares) | shares	15,534,276	15,534,276	15,534,276	15,534,276	21,548,589	21,548,589
Balance at the beginning	¥ 389,563,659		¥ 344,661,893		¥ 440,585,213
Conversion of convertible notes
Call option under convertible notes
New insurance
Shares transferred (in Shares) | shares					(6,014,313)	(6,014,313)
Shares transferred					¥ (68,232,451)
Accretion to redemption value	¥ 65,904,705		57,598,340		1,758,690
Converted to ordinary shares (in Shares) | shares	(15,534,276)	(15,534,276)
Converted to ordinary shares	¥ (490,202,733)
Foreign currency translation adjustment	34,734,369		¥ (12,696,574)		¥ (29,449,559)
Balance at the ending (in Shares) | shares			15,534,276	15,534,276	15,534,276	15,534,276
Balance at the ending			¥ 389,563,659		¥ 344,661,893
Series A-1 Redeemable Convertible Preferred Stock [Member]
Redeemable Noncontrolling Interest [Line Items]
Balance at the beginning (in Shares) | shares	6,014,313	6,014,313	6,014,313	6,014,313
Balance at the beginning	¥ 68,510,809		¥ 65,665,315
Conversion of convertible notes
Call option under convertible notes
New insurance
Shares transferred (in Shares) | shares					6,014,313	6,014,313
Shares transferred					¥ 68,232,451
Accretion to redemption value	¥ 5,463,610		5,164,090
Converted to ordinary shares (in Shares) | shares	(6,014,313)	(6,014,313)
Converted to ordinary shares	¥ (79,840,429)
Foreign currency translation adjustment	5,866,010		¥ (2,318,596)		¥ (2,567,136)
Balance at the ending (in Shares) | shares			6,014,313	6,014,313	6,014,313	6,014,313
Balance at the ending			¥ 68,510,809		¥ 65,665,315
Series B Redeemable Convertible Preferred Stock [Member]
Redeemable Noncontrolling Interest [Line Items]
Balance at the beginning (in Shares) | shares	65,414,858	65,414,858	65,414,858	65,414,858
Balance at the beginning	¥ 912,146,924		¥ 875,131,363
Conversion of convertible notes (in Shares) | shares					18,393,610	18,393,610
Conversion of convertible notes					¥ 131,425,527
Call option under convertible notes (in Shares) | shares					9,660,324	9,660,324
Call option under convertible notes					¥ 131,425,290
New insurance (in Shares) | shares					37,360,924	37,360,924
New insurance					¥ 597,987,709
Shares transferred
Accretion to redemption value	¥ 66,623,382		67,899,896		14,851,607
Converted to ordinary shares (in Shares) | shares	(65,414,858)	(65,414,858)
Converted to ordinary shares	¥ (1,056,627,606)
Foreign currency translation adjustment	77,857,300		¥ (30,884,335)		¥ (558,770)
Balance at the ending (in Shares) | shares			65,414,858	65,414,858	65,414,858	65,414,858
Balance at the ending			¥ 912,146,924		¥ 875,131,363

Warrants (Details) - Schedule_3

Warrants (Details) - Schedule of Private Warrants	12 Months Ended
	Sep. 30, 2023 $ / shares $ / item shares	Mar. 31, 2023 $ / shares $ / item shares
Schedule of Private Warrants [Abstract]
Fair value of the underlying asset as of the Valuation Date	$ 0.8	$ 1.6
Strike price (in Dollars per Item) | $ / item	11.5	11.5
Life to expiration (Years.)	4 years 6 months	4 years 10 months 24 days
Volatility	67%	62.90%
Number of steps (in Shares) | shares	100	100
Redemption price (per share)	$ 0.1	$ 0.1

Warrants (Details) - Schedule_4

Warrants (Details) - Schedule of Warrant Liabilities	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Warrants (Details) - Schedule of Warrant Liabilities [Line Items]
Warrant liabilities beginning balance	¥ 8,792,389
Additions				8,814,592
Change in fair value	(6,851,308)	$ (954,248)		(21,358)	$ (3,108)
Foreign currency translation	244,041			(845)
Warrant liabilities ending balance	2,185,122			8,792,389
Warrant liabilities ending balance (in Dollars) | $		$ 304,343			1,279,507
Private Warrants [Member]
Warrants (Details) - Schedule of Warrant Liabilities [Line Items]
Warrant liabilities beginning balance	¥ 8,792,389
Additions				8,814,592
Change in fair value				(21,358)
Foreign currency translation				(845)
Warrant liabilities ending balance				¥ 8,792,389
Warrant liabilities ending balance (in Dollars) | $					$ 1,279,507

Stock-Based Compensation (Det_5

Stock-Based Compensation (Details) - Schedule of Exercise Prices and Exercise Periods, Giving Retroactive Effect of Combination	6 Months Ended		12 Months Ended
	Sep. 30, 2023 $ / shares shares	Sep. 30, 2023 ¥ / shares shares	Mar. 31, 2023 $ / shares shares	Mar. 31, 2023 ¥ / shares shares	Mar. 31, 2022 ¥ / shares shares
Schedule of Exercise Prices and Exercise Periods of the Share Options Outstanding [Abstract]
Number of share options, At the opening	3,253,565	3,253,565	3,253,565	3,253,565	3,253,565
Average exercise price per share option, At the opening | (per share)	$ 29.3156	¥ 32.402		¥ 29.3156	¥ 29.3156
Number of share options, Granted during the period
Average exercise price per share option, Granted during the period | (per share)
Number of share options, Forfeited during the period
Average exercise price per share option, Forfeited during the period | (per share)
Number of share options, Exercised during the period
Average exercise price per share option, Exercised during the period | (per share)
Number of share options, Expired during the period
Average exercise price per share option, Expired during the period | (per share)
Number of share options, At the ending	3,253,565	3,253,565	3,253,565	3,253,565	3,253,565
Average exercise price per share option, At the ending | (per share)			$ 29.3156	¥ 32.402	¥ 29.3156

Stock-Based Compensation (Det_6

Stock-Based Compensation (Details) - Schedule of Exercise Prices and Exercise Periods of the Share Options Outstanding - $ / shares	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	3,253,565	3,253,565
Exercise Price One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	1,533,252	1,533,252
Exercise price (in Dollars per share)	$ 13.938	$ 13.938
Exercise Price One [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2021 years	2021 years
Exercise Price One [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2031 years	2031 years
Exercise Price Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	613,369	613,369
Exercise price (in Dollars per share)	$ 25.8524	$ 25.8524
Exercise Price Two [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2021 years	2021 years
Exercise Price Two [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2026 years	2026 years
Exercise Price Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in Shares)	1,106,944	1,106,944
Exercise price (in Dollars per share)	$ 52.5376	$ 52.5376
Exercise Price Three [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2021 years	2021 years
Exercise Price Three [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise period	2026 years	2026 years

Stock-Based Compensation (Det_7

Stock-Based Compensation (Details) - Schedule of Stock-Based Compensation Expense	6 Months Ended			12 Months Ended
	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			¥ (85,316)	¥ 3,505,001	$ 510,063	¥ 7,764,448	¥ 76,756,500
Research and development [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			(1,015,055)	(997,846)	(145,211)	975,171	4,200,464
General and administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			¥ 929,739	4,502,847	655,274	6,789,277	72,501,943
Selling and marketing [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation							¥ 54,093

Related Party Transactions an_5

Related Party Transactions and Balances (Details) - Schedule of Companies are Related Parties that had Balances or Transactions with YS Group	12 Months Ended
	Dec. 31, 2021
Yisheng Biopharma Co., Ltd [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Yisheng Biopharma Holdings Ltd.[Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Kaifeng Yisheng Pan-Asia Technology Co., Ltd [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Beijing Yisheng Xingye Technology Co., Ltd. [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Changchun Bailong Biotechnology Co., Ltd.[Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Henan Yisheng Huizhong Health Services Co., Ltd. [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Henan Yisheng Biopharma Co., Ltd.[Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Beijing Huaerdun Kangqi Biotechnology Co., Ltd. [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Liaoning Yisheng Pan-Asia [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	An entity controlled by Yi Zhang
Yi Zhang [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	Chairman of Board of Directors
Hui Shao [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	Chief Executive Officer
Zhongkai Shi [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	Chief Medical Officer	[1]
Nan Zhang [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	Daughter of the Chairman
Xu Zhang [Member]
Schedule of Companies are Related Parties that had Balances or Transactions with YS Group [Abstract]
Name of related parties	Daughter of the Chairman
[1]Zhongkai Shi resigned in September 2021.

Related Party Transactions an_6

Related Party Transactions and Balances (Details) - Schedule of Transactions with Related Parties	12 Months Ended
	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Receivable Collected on Behalf of YS Group [Member] | Yisheng Biopharma Holding Ltd (Hong Kong) [Member]
Yisheng Biopharma Holdings Limited (Hong Kong)
Amounts due from related party			¥ 2,966,777	¥ 30,088,833
Receivable Collected on Behalf of YS Group [Member] | Yisheng Biopharma Holdings Limited (Hong Kong) [Member]
Yisheng Biopharma Holdings Limited (Hong Kong)
Amounts due from related party
Repayment to YS Group [Member] | Yisheng Biopharma Holding Ltd (Hong Kong) [Member]
Yisheng Biopharma Holdings Limited (Hong Kong)
Amounts due from related party			¥ 33,055,610
Repayment to YS Group [Member] | Yisheng Biopharma Holdings Limited (Hong Kong) [Member]
Yisheng Biopharma Holdings Limited (Hong Kong)
Amounts due from related party

Income Tax (Details) - Schedu_3

Income Tax (Details) - Schedule of Reconciliation of Statutory Rate to YS Group's Effective Tax Rate	6 Months Ended				12 Months Ended
	Sep. 30, 2023		Sep. 30, 2022		Mar. 31, 2023		Mar. 31, 2022		Mar. 31, 2021
Schedule of Reconciliation of Statutory Rate To Ys Groups Effective Tax Rate [Abstract]
PRC statutory income tax rate	25%		25%		25%		25%		25%
Effect of different tax rates in different jurisdictions	(14.93%)		(182.62%)		(36.00%)		(18.26%)		(20.56%)
Effect of PRC preferential tax rate	3.93%		(100.49%)		8.72%		4.56%		(0.77%)
Effect of research and development expenses deduction and others	11.94%		80.56%		25.50%		33.20%		7.80%
Temporary differences*	(0.71%)	[1]	5.03%	[1]	0.79%	[2]	4.88%	[2]	10.01%	[2]
Change in valuation allowance	(25.70%)		177.88%		(23.23%)		(44.47%)		(11.49%)
Effective tax rate	(0.47%)		5.36%		0.78%		4.91%		9.99%
[1]Temporary differences primarily are for impairment of inventories, property, plant and equipment and government grants.[2]Temporary differences primarily relate to impairment of inventories, property, plant and equipment and government grants.

Income Tax (Details) - Schedu_4

Income Tax (Details) - Schedule of Net Deferred Tax Assets	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Deferred tax assets:
Write-down of inventories to net realizable value	¥ 1,443,851	$ 201,099	¥ 716,917	$ 104,329	¥ 825,454
Impairment of property, plant and building	1,638,378	228,193	1,769,405	257,492	2,031,460
Deferred government grants	3,124,045	435,116	3,296,223	479,681	4,852,383
Losses available for offsetting against future taxable profits	39,366,020	10,792,055	39,366,020	5,728,716	58,257,270
Less: valuation allowance	(39,366,020)	(10,792,055)	(39,366,020)	(5,728,716)	(58,257,270)
Total deferred tax assets, net	6,206,274	864,408	5,782,545	841,502	7,709,297
Deferred tax liabilities:
Fair value adjustments arising from historical acquisition of subsidiaries	(3,480,340)	(484,741)	(3,876,964)	(564,193)	(4,670,213)
Total deferred tax liabilities	(3,480,340)	(484,741)	(3,876,964)	(564,193)	(4,670,213)
Net deferred tax asset	¥ 2,725,934	$ 379,667	¥ 1,905,581	$ 277,309	¥ 3,039,084

Deferred Government Grants (D_3

Deferred Government Grants (Details) - Schedule of Deferred Government Grants	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Government grants for property, plant and equipment
Total deferred government grants			¥ 25,902,208	$ 3,769,404	¥ 32,349,218
Less: current portion	¥ 2,295,701	$ 319,744	2,295,701	334,081	2,295,701
Non-current portion	¥ 22,458,657	$ 3,128,034	23,606,507	3,435,323	30,053,517
Government Grants for Property, Plant and Equipment [Member]
Government grants for property, plant and equipment
Balance at beginning of the year			22,030,690	3,206,003	21,847,340
Addition					1,552,000
Recognized as income			(1,455,678)	(211,837)	(1,368,650)
Subtotal			20,575,012	2,994,166	22,030,690
Government Grants for Research and Development [Member]
Government grants for property, plant and equipment
Balance at beginning of the year			10,318,528	1,501,598	11,158,551
Addition			4,000,000	582,098
Recognized as income			(8,991,332)	(1,308,458)	(840,023)
Subtotal			¥ 5,327,196	$ 775,238	¥ 10,318,528

Commitments and Contingencies_4

Commitments and Contingencies (Details) - Schedule of Commitments to Purchase Raw Materials or Services - Mar. 31, 2023	CNY (¥)	USD ($)
Schedule of Commitments to Purchase Raw Materials or Services [Abstract]
Other professional service fee	¥ 3,229,699	$ 470,000
Research and development	185,648,604	27,016,401
Purchase raw materials	15,528,566	2,259,785
Total	¥ 204,406,869	$ 29,746,186

Segment Information (Details)_2

Segment Information (Details) - Schedule of Non-Current Assets can be Aggregated to form the Reportable Geographical Segment	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
PRC [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets	¥ 631,678,369	$ 87,979,939	¥ 645,210,788	$ 93,893,911	¥ 604,094,049
Other Countries/Regions [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Non-current assets			¥ 4,602,447	$ 669,769	¥ 26,777,039

Parent Company Only Condensed_9

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Balance Sheets - Parent Company [Member] - Reportable Legal Entities [Member]		Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)
Current Assets
Cash		¥ 3,045,660	$ 443,218	¥ 252,611,535
Amounts due from related parties		1,039,986,896	151,343,466	519,236,876
Total current assets		1,043,032,556	151,786,684	771,848,411
Non-current assets
Long-term investments, net		158,734,357	23,099,722	146,641,652
Total non-current assets		158,734,357	23,099,722	146,641,652
Total Assets		1,201,766,913	174,886,406	918,490,063
Current Liabilities
Accrued expenses and other liabilities		461,105,636	67,102,120	244,082,464
Warrants liability		8,792,389	1,279,507
Amounts due to related parties		3,415,603	497,054	3,155,395
Total current liabilities		473,313,628	68,878,681	247,237,859
Total Liabilities		473,313,628	68,878,681	247,237,859
Mezzanine equity
Series A and A-1 redeemable convertible preferred shares (par value US$0.000005 per share, 50,000,000 shares authorized; 21,548,589 shares issued and outstanding)				458,074,468
Series B redeemable convertible preferred shares (par value US$0.000005 per share, 100,000,000 shares authorized; 65,414,858 shares issued and outstanding)				912,146,924
Total mezzanine equity				1,370,221,392
Shareholders’ (deficit)/equity:
Ordinary shares, par value US$0.00002 per share; 9,950,000,000 shares authorized; 61,827,883 and 93,058,197 shares issued and outstanding as of March 31, 2022 and 2023, respectively;	[1]	12,297	1,790	7,978
Additional paid-in capital		2,656,891,036	386,642,466	808,502,018
Accumulated deficit		(1,874,037,965)	(272,718,245)	(1,590,567,163)
Accumulated other comprehensive income/(loss)		(54,412,083)	(7,918,286)	83,087,979
Total shareholders’ (deficit)/equity		728,453,285	106,007,725	(698,969,188)
Total liabilities, mezzanine equity and shareholders’ (deficit)/equity		¥ 1,201,766,913	$ 174,886,406	¥ 918,490,063
[1]Gives retroactive effect to reflect the reorganization in February 2021 and business combination in March 2023.

Parent Company Only Condense_10

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Balance Sheets (Parentheticals) - Parent Company [Member] - Reportable Legal Entities [Member] - $ / shares	Mar. 31, 2023	Mar. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in Dollars per share)	$ 0.00002	$ 0.00002
Ordinary shares, shares authorized	9,950,000,000	9,950,000,000
Ordinary shares, shares issued	93,058,197	61,827,883
Ordinary shares, shares outstanding	93,058,197	61,827,883
Series A and A-1 redeemable convertible preferred shares [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preferred shares par value (in Dollars per share)	$ 0.000005	$ 0.000005
Redeemable convertible preferred shares, shares authorized	50,000,000	50,000,000
Redeemable convertible preferred shares shares issued	21,548,589	21,548,589
Redeemable convertible preferred shares shares outstanding	21,548,589	21,548,589
Series B redeemable convertible preferred shares [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preferred shares par value (in Dollars per share)	$ 0.000005	$ 0.000005
Redeemable convertible preferred shares, shares authorized	100,000,000	100,000,000
Redeemable convertible preferred shares shares issued	65,414,858	65,414,858
Redeemable convertible preferred shares shares outstanding	65,414,858	65,414,858

Parent Company Only Condense_11

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Statements of Operations and Comprehensive Loss - Parent Company [Member] - Reportable Legal Entities [Member]		12 Months Ended
		Mar. 31, 2023 CNY (¥) ¥ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 CNY (¥) ¥ / shares shares	Mar. 31, 2021 CNY (¥) ¥ / shares shares
Schedule of Parent Company Statements of Operations and Comprehensive Loss [Abstract]
Equity loss of subsidiaries		¥ (138,758,136)	$ (20,192,694)	¥ (75,864,722)	¥ (60,903,713)
Operating expenses:
Selling and marketing					54,278
General and administrative		7,630,726	1,110,456	29,178,255	104,562,058
Research and development		(887,280)	(129,121)	988,531	4,352,356
Total operating expenses		6,743,446	981,335	30,166,786	108,968,692
Loss from operations		(145,501,582)	(21,174,029)	(106,031,508)	(169,872,405)
Other income (expenses):
Financial income/(expenses)		1,119	163	27,107	(21,953,837)
Fair value changes of warrant liability		21,358	3,108
Total other income/(expense), net		22,477	3,271	27,107	(21,953,837)
Net income/(loss)		(145,479,105)	(21,170,758)	(106,004,401)	(191,826,242)
Accretion to redemption value of convertible redeemable preferred shares		(137,991,697)	(20,081,159)	(130,662,326)	(16,610,297)
Foreign currency translation gain(loss)		(137,500,062)	(20,009,614)	38,864,606	22,455,217
Net loss attributable to YS Biopharma		(283,470,802)	(41,251,917)	(236,666,727)	(208,436,538)
Net loss		(145,479,105)	(21,170,758)	(106,004,401)	(191,826,242)
Total comprehensive loss		¥ (282,979,167)	$ (41,180,372)	¥ (67,139,795)	¥ (169,371,025)
Loss per share*:
Basic and Diluted (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	¥ (1.56)	$ (0.23)	¥ (1.71)	¥ (3.1)
Weighted average number of ordinary shares outstanding*:
Weighted average number of ordinary shares outstanding basic (in Shares)	[1]	93,058,197	93,058,197	61,827,883	61,827,883
[1]Gives retroactive effect to reflect the reorganization in February 2021 and combination in March 2023.

Parent Company Only Condense_12

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Statements of Operations and Comprehensive Loss (Parentheticals) - Parent Company [Member] - Reportable Legal Entities [Member]		12 Months Ended
		Mar. 31, 2023 $ / shares shares	Mar. 31, 2023 ¥ / shares shares	Mar. 31, 2022 ¥ / shares shares	Mar. 31, 2021 ¥ / shares shares
Schedule of Parent Company Statements of Operations and Comprehensive Loss [Abstract]
Diluted loss per share (in Dollars per share and Yuan Renminbi per share) | (per share)	[1]	$ (0.23)	¥ (1.56)	¥ (1.71)	¥ (3.10)
Weighted average number of ordinary shares outstanding Diluted	[1]	93,058,197	93,058,197	61,827,883	61,827,883
[1]Gives retroactive effect to reflect the reorganization in February 2021 and combination in March 2023.

Parent Company Only Condense_13

Parent Company Only Condensed Financial Information (Unaudited) (Details) - Schedule of Parent Company Statements of Cash Flows - Parent Company [Member] - Reportable Legal Entities [Member]	12 Months Ended
	Mar. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 CNY (¥)
Schedule of parent company statements of cash flows [Abstract]
Net loss	¥ (145,479,105)	$ (21,170,758)	¥ (106,004,401)	¥ (191,826,242)
Equity loss of subsidiaries	138,758,136	20,192,694	75,864,722	60,903,713
Share-based compensation	3,505,001	510,063	7,764,448	76,756,500
Fair value changes of warrant liability	(21,358)	(3,108)
Changes in operating assets and liabilities:
Amounts due from related parties	(520,750,020)	(75,781,833)	(23,299,705)	(421,125,633)
Amounts due to related parties	260,208	37,867	(110,893)	2,906,881
Accrued expenses and other liabilities	48,377,785	7,040,148	(24,732,348)	77,228,629
Net cash used in operating activities	(475,349,353)	(69,174,927)	(70,518,177)	(395,156,152)
Cash flows from investing activities:
Payment for long-term investment			(813,776)	(7,658,738)
Net cash used in investing activities			(813,776)	(7,658,738)
Cash flows from financing activities:
Proceeds from issuance of mezzanine equity				729,412,999
Shareholders’ contributions				1,589,236
Proceeds from acquisition	252,457,329	36,738,701
Offering cost	(35,884,661)	(5,222,094)
Net cash provided by financing activities	216,572,668	31,516,607		731,002,235
Effect of exchange rate on cash	9,210,810	1,340,397	(6,353,461)	2,109,604
Net (decrease) increase in cash	(249,565,875)	(36,317,923)	(77,685,414)	330,296,949
Cash at the beginning of the period	252,611,535	36,761,141	330,296,949
Cash at the end of the period	3,045,660	443,218	252,611,535	330,296,949
Non-cash transactions:
Accretion to redemption value of convertible redeemable preferred shares	(137,991,697)	(20,081,159)	130,662,326	16,610,297
Forgiveness from related parties				446,092,527
Equity transaction from warrants	(8,870,007)	(1,290,802)
Equity transaction from preferred shares	¥ 1,636,897,084	$ 238,208,461