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Condensed financial information of the parent company | 12 Months Ended
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Dec. 31, 2024
Condensed financial information of the parent company |
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,
​ | ​ | 2023 | ​ | 2024
​ |  | RMB |  | RMB |  | US$
ASSETS: | ​ | ​ | ​ | ​ | ​ | ​
Current assets: | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents |  | 413,317,806 |  | 305,194,205 |  | 41,811,435
Short-term investments |  | 78,808,890 |  | 698,152,621 |  | 95,646,517
Time and Structured deposits | ​ | — | ​ | 380,047,326 | ​ | 52,066,270
Short-term amounts due from intercompanies |  | 687,538,024 |  | 440,259,744 |  | 60,315,338
Other current assets | ​ | — | ​ | 14,670 | ​ | 2,010
Total current assets |  | 1,179,664,720 |  | 1,823,668,566 |  | 249,841,570
Non-current assets: |  | ​ |  | ​ |  | ​
Investments in subsidiaries, VIEs and VIEs’ subsidiaries |  | 10,520,530,855 |  | 10,211,096,821 |  | 1,398,914,529
Total non-current assets |  | 10,520,530,855 |  | 10,211,096,821 |  | 1,398,914,529
TOTAL ASSETS |  | 11,700,195,575 |  | 12,034,765,387 |  | 1,648,756,099
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2023 | ​ | 2024
​ |  | RMB |  | RMB |  | US$
LIABILITIES AND SHAREHOLDERS’ EQUITY: | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Short-term borrowings | ​ | — | ​ | 720,000,000 | ​ | 98,639,596
Accrued expenses and other intercompanies | ​ | 8,364,603 | ​ | 19,456,357 | ​ | 2,665,510
Short-term amounts due to related parties | ​ | 3,880,000 | ​ | 3,880,000 | ​ | 531,558
Total current liabilities | ​ | 12,244,603 | ​ | 743,336,357 | ​ | 101,836,664
Non-current liabilities | ​ | ​ | ​ | ​ | ​ | ​
TOTAL LIABILITIES | ​ | 12,244,603 | ​ | 743,336,357 | ​ | 101,836,664
Commitments and contingencies | ​ | ​ | ​ | ​ | ​ | ​
Shareholders’ equity | ​ | ​ | ​ | ​ | ​ | ​
Class A Ordinary shares (US$0.0001 par value; 656,508,828 shares authorized, 201,304,881 shares issued and 137,109,719 shares outstanding, as of December 31, 2023; 656,508,828 shares authorized, 201,304,881 shares issued and 105,198,013 shares outstanding, as of December 31, 2024) | ​ | 132,052 | ​ | 132,052 | ​ | 18,091
Class B Ordinary shares (US$0.0001 par value; 63,491,172 shares authorized, 63,491,172 shares issued and outstanding, as of December 31, 2023 and 2024) | ​ | 43,836 | ​ | 43,836 | ​ | 6,006
Treasury shares | ​ | (899,627,520) | ​ | (1,419,285,878) | ​ | (194,441,368)
Additional paid-in capital | ​ | 4,033,145,746 | ​ | 4,026,668,369 | ​ | 551,651,305
Accumulated other comprehensive loss | ​ | (24,130,903) | ​ | 13,751,495 | ​ | 1,883,947
Retained earnings | ​ | 8,578,387,761 |  | 8,670,119,156 | ​ | 1,187,801,454
Total shareholders’ equity |  | 11,687,950,972 |  | 11,291,429,030 | ​ | 1,546,919,435
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | 11,700,195,575 |  | 12,034,765,387 |  | 1,648,756,099
​ 24. Condensed financial information of the parent company - continued Condensed statements of comprehensive income/(loss) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended December 31,
​ | ​ | 2022 | ​ | 2023 | ​ | 2024
​ |  | RMB |  | RMB |  | RMB |  | US$
Share-based compensation expense |  | (24,053,760) |  | (4,935,782) |  | (2,257,795) |  | (309,317)
General and administrative |  | (26,199,820) |  | (19,070,062) |  | (40,780,739) |  | (5,586,938)
Interest and investment income/(loss), net |  | (13,148,315) |  | 104,687,566 |  | 189,674,053 |  | 25,985,239
Other non-interest income |  | 11,548,297 |  | 28,626,092 |  | 24,463,472 |  | 3,351,482
Foreign exchange gain/(loss), net |  | 404,232 |  | (545,948) |  | 20,792,611 |  | 2,848,576
Income from the repurchase of convertible senior notes |  | 10,028,456 |  | — |  | — |  | —
Share of loss in subsidiaries, VIEs and VIEs’ subsidiaries |  | (320,543,213) |  | (69,628,327) |  | (100,160,207) |  | (13,721,893)
Net income before income taxes |  | (361,964,123) |  | 39,133,539 |  | 91,731,395 |  | 12,567,149
Income tax expense |  | — |  | — |  | — |  | —
Net income/(loss) |  | (361,964,123) |  | 39,133,539 |  | 91,731,395 |  | 12,567,149
Other comprehensive income |  | ​ |  | ​ |  | ​ |  | ​
Foreign currency translation adjustment | ​ | 13,036,988 | ​ | 21,829,283 | ​ | 37,882,398 | ​ | 5,189,867
Total comprehensive income/(loss) |  | (348,927,135) |  | 60,962,822 |  | 129,613,793 |  | 17,757,016
​ Condensed statements of cash flows ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended December 31,
​ | ​ | 2022 | ​ | 2023 | ​ | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB | ​ | US$
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income/(loss) |  | (361,964,123) |  | 39,133,539 |  | 91,731,395 |  | 12,567,149
Adjustments to reconcile net income to net cash used in operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Share of loss in subsidiaries, VIEs and VIEs’ subsidiaries |  | 320,543,213 |  | 69,628,327 |  | 100,160,207 |  | 13,721,893
Share-based compensation expense |  | 24,053,760 |  | 4,935,782 |  | 2,257,795 |  | 309,317
Income from the repurchase of convertible senior notes |  | (10,028,456) |  | — |  | — |  | —
Accrued interest of convertible senior notes |  | 1,732,915 |  | — |  | — |  | —
Investment loss of short-term Investments |  | 67,907,228 |  | 138,739,373 |  | 1,925,270 |  | 263,761
Foreign exchange loss/(gain) net |  | (404,232) |  | 545,948 |  | (20,792,611) |  | (2,848,576)
Payables to employee |  | 66,077 |  | 405,208 |  | 4,893,049 |  | 670,345
Other payables |  | 2,937,392 |  | 2,935,558 |  | 10,942,366 |  | 1,499,098
Net cash provided by operating activities |  | 44,843,774 |  | 256,323,735 |  | 191,117,471 |  | 26,182,987
Net cash provided by (used in) investing activities | ​ | 908,576,201 | ​ | 29,180,599 | ​ | (523,283,656) | ​ | (71,689,567)
Net cash provided by (used in) financing activities | ​ | (834,990,790) | ​ | (420,660,054) | ​ | 186,843,558 | ​ | 25,597,462
Effect of exchange rate changes on cash and cash equivalents | ​ | (117,327,970) | ​ | (10,899,643) | ​ | 37,199,026 | ​ | 5,096,246
Net increase (decrease) in cash and cash equivalents | ​ | 1,101,215 | ​ | (146,055,363) | ​ | (108,123,601) | ​ | (14,812,872)
Cash and cash equivalents at beginning of the year | ​ | 558,271,954 | ​ | 559,373,169 | ​ | 413,317,806 | ​ | 56,624,307
Cash and cash equivalents at end of the year |  | 559,373,169 |  | 413,317,806 |  | 305,194,205 |  | 41,811,435
​ ​ ​ 24. Condensed financial information of the parent company – continued 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 VIEs. The parent company records its investment in its subsidiaries and VIEs under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investment in subsidiaries and VIEs” and their respective profit or loss as “Equity in profits of subsidiaries and VIEs” on the condensed statements of comprehensive income/(loss). Equity method accounting ceases when the carrying amount of investment, including any additional financial support, in a subsidiary and VIEs is reduced to zero unless the parent company has guaranteed obligations of the subsidiary and VIEs or is otherwise committed to provide further financial support. If the subsidiary and VIEs subsequently report 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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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