Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2021

Accrued Expenses and Other Current Liabilities

10.	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:


			As of December 31,
			2020		2021
	Notes		RMB		RMB		US$
Short-term contract liability				113,860,926		325,857,410		51,134,138
Notes Payable		i		—		123,803,438		19,427,461
Customer advances		ii		23,032,980		77,811,758		12,210,363
Payable to dealers				37,610,651		50,680,407		7,952,862
Payable to employees				66,058,774		34,285,667		5,380,169
Deposit due to third-parties				19,105,683		18,891,289		2,964,455
Other tax payables				26,851,725		16,494,783		2,588,391
Accrued professional service fees				4,630,000		8,697,657		1,364,852
Derivative financial liability				—		5,346,389		838,965
Payable to suppliers				5,090,553		4,003,912		628,301
Interest payable				1,237,131		2,667,405		418,574
Others				27,255,779		50,495,262		7,923,811

				324,734,202		719,035,377		112,832,342

(i)

In the ordinary course of business, the Company uses

non-interest

bearing bank acceptance drafts to settle payment with the automobile suppliers. The balance of restricted cash deposited as collateral for such notes payable was RMB nil and RMB51,793,630 (US$8,127,551) as of December 31, 2020 and 2021

, respectively

The aggregate

amoun

ts of unused

lines of cred

it fo

r notes payable was

RMB38 million and RM

B921 millio

(US$

145 million)

of December 31, 2020 and 2021, respectively.

(ii)	Customer advances relate to automobile customer’s deposit balances that are paid before a purchase contract is executed .