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Intangible Assets | 12 Months Ended
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Dec. 31, 2021
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Intangible Assets |
8. | INTANGIBLE ASSETS
Intangible assets consist of the following:
|  | As of December 31, |
|  | 2020 |  |  | 2021 |
|  | RMB |  |  | RMB |  |  | US$ |
Finite-lived intangible asset: |  |  |  |  |  |  |  |  |  |  |  |
Software |  |  | 4,164,764 |  |  |  | 5,796,893 |  |  |  | 909,659 |
Less: Accumulated amortization |  |  | (2,368,396 | ) |  |  | (2,956,852 | ) |  |  | (463,995 | )
Total finite-lived intangible asset |  |  | 1,796,368 |  |  |  | 2,840,041 |  |  |  | 445,664 |
Indefinite-lived intangible asset: |  |  |  |  |  |  |  |  |  |  |  |
License* |  |  | 43,091,503 |  |  |  | 43,091,503 |  |  |  | 6,761,998 |
Total infinite-lived intangible asset |  |  | 43,091,503 |  |  |  | 43,091,503 |  |  |  | 6,761,998 |
|  |  | 44,887,871 |  |  |  | 45,931,544 |  |  |  | 7,207,662 |
Amortization expenses of finite-lived intangible asset for the years ended December 31, 2019, 2020 and 2021 were RMB496,072, RMB393,547 and RMB588,456 (US$92,342), respectively. The estimated useful life of the intangible assets are 6-10 years. The estimated aggregate amortization expenses for each of the five succeeding fiscal years are as follows:
|  | As of December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Software |  |  | 638,471 |  |  |  | 335,489 |  |  |  | 329,697 |  |  |  | 328,671 |  |  |  | 270,141 |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Software |  |  | 100,190 |  |  |  | 52,646 |  |  |  | 51,737 |  |  |  | 51,576 |  |  |  | 42,391 |
* | The Company acquired Fushun Insurance Brokerage Co., Ltd in 2019. The acquisition met the “substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets” criteria and is not considered a business combination in accordance with ASC Topic 805.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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