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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income taxes

Schedule of Current and Deferred Component of Income Tax Expense

​

​	​	​	​	​	​	​	​	​
​	​	For the years ended December 31,
​	​	2022	​	2023	​	2024
​		RMB		RMB		RMB		US$
Current income tax expense		71,567,448		64,458,408		65,805,623		9,015,333
Deferred income tax expense/(benefit)		20,860,679		(2,117,892)		—		—
Total income tax expense		92,428,127		62,340,516		65,805,623		9,015,333

Schedule of Principal Components of Deferred Tax Assets and Liabilities

​

​	​	​	​	​	​	​
​	​	As of December 31,
​	​	2023	​	2024
​		RMB		RMB		US$
Deferred tax assets:
Allowance for loan principal and financing service fee receivables		19,785,153		—	​	—
Allowance for finance lease receivable		7,706,311		1,613,414	​	221,037
Allowance for other current assets		30,286,267		19,387,060	​	2,656,016
Impairment loss from long-lived assets		539,153		385,314	​	52,788
Guarantee liabilities		3,517,157		47,762	​	6,543
Share-based compensation		33,692,676		34,309,231	​	4,700,345
Fair value change on investments		67,463,987		105,192,397	​	14,411,299
Fair value change on financial assets		82,220,720		839,617	​	115,027
Lease liabilities		18,156,568		11,008,553	​	1,508,166
Advertising cost		23,090,520		23,027,357	​	3,154,735
Uncollected revenue		4,798,460		—	​	—
Outside basis difference	​	19,604,247	​	—	​	—
Net operating loss carry forwards	​	775,049,194	​	609,993,234	​	83,568,730
Total deferred tax assets		1,085,910,413		805,803,939	​	110,394,686
Less: valuation allowance		(1,008,969,418)		(759,896,561)	​	(104,105,402)
Total deferred tax assets, net of valuation allowance		76,940,995		45,907,378	​	6,289,284
Net off against deferred tax liabilities	​	(76,940,995)	​	(45,907,378)	​	(6,289,284)
Net deferred tax assets		—		—	​	—
Deferred tax liabilities:		​		​	​	​
Right-of-use assets		18,572,655		11,113,077	​	1,522,486
Fair value change on financial assets		58,368,340		34,794,301	​	4,766,798
Total deferred tax liabilities		76,940,995		45,907,378	​	6,289,284
Net off against deferred tax assets		(76,940,995)		(45,907,378)	​	(6,289,284)
Net deferred tax liabilities		—		—	​	—

Schedule of Reconciliation of Income Taxes Expense

​

​	​	​	​	​	​	​	​	​	​
​	​	For the years ended December 31,							​
​	​	2022	​	2023	​	2024
​		RMB		RMB		RMB		US$
Profit (loss) before income tax		(269,623,829)		101,474,055		157,537,018		21,582,482	​
PRC statutory income tax rate		25	%	25	%	25	%	25	%
Income tax expense (benefit) at PRC statutory income tax rate		(67,405,957)		25,368,514		39,384,255		5,395,621	​
Effect of different tax rates		12,944,788		(25,070,403)		(97,962,122)		(13,420,756)	​
Tax exempted income		—		(198,231)		(113,208,078)		(15,509,443)	​
Outside basis difference	​	(109,594,486)	​	(215,985,749)	​	—	​	—	​
Expenses not deductible for tax purposes		12,666,674		36,882,867		13,122,045		1,797,713	​
Adjustment on current income tax of the previous periods		(18,081,862)		(18,394,143)		—		—	​
Non-deductible guarantee liability:		—		93,833,446		—		—	​
Write-off of NOL and others	​	—	​	252,778,471	​	450,292,380	​	61,689,803	​
Withholding income tax		—		4,427,205		23,250,000		3,185,237	​
Changes in valuation allowance		261,898,970		(91,301,461)		(249,072,857)		(34,122,842)	​
Income tax expenses	​	92,428,127	​	62,340,516	​	65,805,623	​	9,015,333	​

Schedule of Unrecognized Tax Benefits

​

​	​	​	​	​	​	​
​	​	For the years ended December 31,
​	​	2023	​	2024
​		RMB		RMB		US$
Balance at beginning of the year		—		—		—
Additions		34,580,410		—		—
Decreases		(34,580,410)		—		—
Balance at end of the year		—		—		—

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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