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Condensed Financial Information of the Parent Company | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information of the Parent Company |
24. | CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
The following is the condensed financial information of the Company on a parent company only basis. Condensed balance sheets
|  | As of December 31, |
|  | 2020 |  |  | 2021 |
|  | RMB |  |  | RMB |  |  | US$ |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 114,892,815 |  |  |  | 857,888,496 |  |  |  | 134,621,425 |
Short-term investments |  |  | 4,045,157,224 |  |  |  | 1,679,107,862 |  |  |  | 263,488,664 |
Short-term amounts due from related parties |  |  | 619,608,050 |  |  |  | 738,960,885 |  |  |  | 115,959,088 |
Other current assets |  |  | 3,578,607 |  |  |  | 1,964,886 |  |  |  | 308,333 |
Total Current assets |  |  | 4,783,236,696 |  |  |  | 3,277,922,129 |  |  |  | 514,377,510 |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |
Investments in subsidiaries, VIE and VIE’s subsidiaries |  |  | 3,596,657,570 |  |  |  | 3,717,140,362 |  |  |  | 583,300,439 |
Total non-current assets |  |  | 3,596,657,570 |  |  |  | 3,717,140,362 |  |  |  | 583,300,439 |
Total assets |  |  | 8,379,894,266 |  |  |  | 6,995,062,491 |  |  |  | 1,097,677,949 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  |  | 4,685,129 |  |  |  | 4,495,670 |  |  |  | 705,469 |
Total current liabilities |  |  | 4,685,129 |  |  |  | 4,495,670 |  |  |  | 705,469 |
Total liabilities |  |  | 4,685,129 |  |  |  | 4,495,670 |  |  |  | 705,469 |
Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Class A Ordinary shares (par value of US$0.0001 per share; 420,674,280 shares authorized as of December 31, 2020 and 2021, respectively; 227,831,213 shares issued and 224,771,083 shares outstanding as of December 31, 2020; 229,831,213 shares issued and 206,506,455 shares outstanding as of December 31, 2021) |  |  | 154,483 |  |  |  | 154,483 |  |  |  | 24,242 |
Class B Ordinary shares (par value of US$0.0001 per share; 79,325,720 shares authorized as of December 31, 2020 and 2021, respectively; 74,978,677 shares issued and outstanding as of December 31, 2020; 72,978,677 shares issued and outstanding as of December 31, 2021) |  |  | 49,777 |  |  |  | 49,777 |  |  |  | 7,811 |
Treasury shares |  |  | (56,419,225 | ) |  |  | (485,263,213 | ) |  |  | (76,148,387 | )
Additional paid-in capital |  |  | 4,591,455,557 |  |  |  | 4,671,769,821 |  |  |  | 733,102,630 |
Accumulated other comprehensive loss |  |  | (115,386,427 | ) |  |  | (187,517,110 | ) |  |  | (29,425,526 | )
Retained earnings |  |  | 3,955,354,972 |  |  |  | 2,991,373,063 |  |  |  | 469,411,710 |
Total shareholders’ equity |  |  | 8,375,209,137 |  |  |  | 6,990,566,821 |  |  |  | 1,096,972,480 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  | 8,379,894,266 |  |  |  | 6,995,062,491 |  |  |  | 1,097,677,949 |
Condensed statements of comprehensive income (loss)
|  | For the years ended December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
General and administrative |  |  | (10,164,242 | ) |  |  | (11,854,536 | ) |  |  | (10,079,685 | ) |  |  | (1,581,723 | )
Interest Income |  |  | 4,831,112 |  |  |  | 1,889,711 |  |  |  | 4,440,117 |  |  |  | 696,751 |
Foreign exchange loss |  |  | (26,334 | ) |  |  | (706,543 | ) |  |  | (390,858 | ) |  |  | (61,334 | )
Net gain (loss) on equity securities |  |  | — |  |  |  | 3,315,475,734 |  |  |  | (27,278,116 | ) |  |  | (4,280,532 | )
Income from equity method investments |  |  | 396,273,356 |  |  |  | 59,992,497 |  |  |  | 29,054,673 |  |  |  | 4,559,312 |
Other income |  |  | — |  |  |  | 4,725,168 |  |  |  | 1,928,027 |  |  |  | 302,550 |
Other expense |  |  | — |  |  |  | (4,184 | ) |  |  | (6,218,510 | ) |  |  | (975,818 | )
Net income (loss) before income taxes |  |  | 390,913,892 |  |  |  | 3,369,517,847 |  |  |  | (8,544,352 | ) |  |  | (1,340,794 | )
Income tax expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) |  |  | 390,913,892 |  |  |  | 3,369,517,847 |  |  |  | (8,544,352 | ) |  |  | (1,340,794 | )
Other comprehensive income (loss), net of tax |  |  | 9,977,742 |  |  |  | (234,817,165 | ) |  |  | (72,130,683 | ) |  |  | (11,318,878 | )
Total comprehensive income (loss), net of tax |  |  | 400,891,634 |  |  |  | 3,134,700,682 |  |  |  | (80,675,035 | ) |  |  | (12,659,672 | )
Condensed statements of cash flows
|  | For the years ended December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Net income (loss) |  |  | 390,913,892 |  |  |  | 3,369,517,847 |  |  |  | (8,544,352 | ) |  |  | (1,340,794 | )
Net gain (loss) on equity securities |  |  | — |  |  |  | (3,315,475,734 | ) |  |  | 27,278,116 |  |  |  | 4,280,532 |
Share of profit in subsidiaries, VIE and VIE’s subsidiaries |  |  | (396,273,356 | ) |  |  | (59,992,497 | ) |  |  | (29,054,673 | ) |  |  | (4,559,312 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash used in operating activities |  |  | (2,989,082 | ) |  |  | (13,000,544 | ) |  |  | (10,185,710 | ) |  |  | (1,598,361 | )
Net cash (used in) provided by investing activities |  |  | (604,084,150 | ) |  |  | 456,658,680 |  |  |  | 2,150,227,042 |  |  |  | 337,417,544 |
Net cash used in financing activities |  |  | (274,666,096 | ) |  |  | (310,709,163 | ) |  |  | (1,391,602,116 | ) |  |  | (218,372,739 | )
Effect of exchange rate changes on cash and cash equivalents and restricted cash |  |  | 12,397,093 |  |  |  | (19,238,574 | ) |  |  | (5,443,535 | ) |  |  | (854,209 | )
Net (decrease) increase in cash and cash equivalents and restricted cash |  |  | (869,342,235 | ) |  |  | 113,710,399 |  |  |  | 742,995,681 |  |  |  | 116,592,235 |
Cash and cash equivalents and restricted cash at beginning of the year |  |  | 870,524,651 |  |  |  | 1,182,416 |  |  |  | 114,892,815 |  |  |  | 18,029,190 |
Cash and cash equivalents and restricted cash at end of the year |  |  | 1,182,416 |  |  |  | 114,892,815 |  |  |  | 857,888,496 |  |  |  | 134,621,425 |
Basis of presentation Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries and VIE. The parent company records its investment in its subsidiaries and VIE under the equity method of accounting as prescribed in ASC 323 Investments-Equity Method and Joint Ventures (“ASC 323”). Such investments are presented on the condensed balance sheets as “Investment in subsidiaries and VIE’s and their respective profit or loss as “Equity in profits of subsidiaries and VIE’s on the condensed statements of comprehensive income (loss). Equity method accounting ceases when the carrying amount of the investment, including any additional financial support, in a subsidiary and VIE is reduced to zero unless the parent company has guaranteed obligations of the subsidiary and VIE or is otherwise committed to provide further financial support. If the subsidiary and VIE subsequently reports net income, the parent company shall resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended. The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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