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Organization and Principal Activities (Tables) | 12 Months Ended
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Jun. 30, 2024
Organization and Principal Activities [Abstract] |
Schedule of Main Subsidiaries and Consolidated VIEs | Main subsidiaries and consolidated VIEs of WN included:
|  | Date of incorporation |  | Place of incorporation |  | Percentage of direct or indirect economic interest |  | Principal activities
Wholly owned subsidiaries: |  |  |  |  |  |  |  |
Beijing Erwan Technology Limited (“Beijing Erwan”, or the “WN WFOE”) |  | March 27, 2017 |  | The PRC |  |  | 100 | % |  | Investment holding
VIEs: |  |  |  |  |  |  |  |  |  |
Feierlai (Beijing) Technology Limited (“Beijing Feierlai”, or the “VIE 1”, or the “VIE” after the Reorganization) |  | July 27, 2016 |  | The PRC |  |  | 100 | %* |  | Listing Businesses
Beijing Dianfengtongdao Technology Limited (“Beijing Dianfeng”, or the “WN VIE”) |  | April 25, 2017 |  | The PRC |  |  | 100 | %* |  | Listing Businesses, Old Business
| * | WN WFOE had 100% of beneficial interests in these consolidated VIEs.
As of June 30, 2024, the Company’s major subsidiaries, the VIEs and VIEs’ subsidiaries are as follows:
|  | Date of incorporation |  | Place of incorporation |  | Percentage of direct or indirect economic interest |  | Principal activities
Wholly owned subsidiaries (offshore): |  |  |  |  |  |  |  |  |  |
Hundreds of Mountains Limited |  | March 22, 2021 |  | The BVI |  |  | 100 | % |  | Investment holding
Witty Digital Technology Limited |  | March 29, 2021 |  | Hong Kong |  |  | 100 | % |  | Investment holding
Rare River Group Limited |  | February 6, 2024 |  | Cayman Islands |  |  | 100 | % |  | Investment holding
Rare River Group (BVI) Limited |  | February 8, 2024 |  | The BVI |  |  | 100 | % |  | Investment holding
Rare River Technology (HK) Limited |  | March 6, 2024 |  | Hong Kong |  |  | 100 | % |  | Investment holding
CreaVerse Group Limited |  | February 6, 2024 |  | Cayman Islands |  |  | 100 | % |  | Investment holding
CreaVerse Group (BVI) Limited |  | February 8, 2024 |  | The BVI |  |  | 100 | % |  | Investment holding
CreaVerse Technology (Singapore) Pte. Limited |  | February 26, 2024 |  | Singapore |  |  | 100 | % |  | Investment holding
CreaVerse Technology (HK) Limited |  | March 11, 2024 |  | Hong Kong |  |  | 100 | % |  | Investment holding
Wholly owned subsidiaries (onshore): |  |  |  |  |  |  |  |  |  |
Beijing Liangzizhige Technology Limited. (the “EW WFOE”, or the “WFOE 1”) |  | March 19, 2021 |  | The PRC |  |  | 100 | % |  | Technical consulting and related service
Beijing Chuangyuqizhi Technology Co., Ltd. (the “WFOE 2”) |  | April 26, 2024 |  | The PRC |  |  | 100 | % |  | Technical consulting and related service
Beijing Ziranzhilu Liquor Industry Co., Ltd. |  | April 26, 2024 |  | The PRC |  |  | 100 | % |  | Consumer business
Qiniuyouxuan (Beijing) Technology Co., Ltd. |  | March 23, 2023 |  | The PRC |  |  | 100 | % |  | Consumer business
VIEs: |  |  |  |  |  |  |  |  |  |
Feierlai (Beijing) Technology Co., Ltd. (“Beijing Feierlai”, or the “VIE 1”) |  | July 27, 2016 |  | The PRC |  |  | 100 | %* |  | Online learning services
Beijing Zhixueduxing Technology Co., Ltd. (the “VIE 2”) |  | March 23, 2023 |  | The PRC |  |  | 100 | %* |  | Technology service
VIEs’ subsidiaries: |  |  |  |  |  |  |  |  |  |
Beijing Shijiwanhe Information Consulting Limited |  | August 28, 2019 |  | The PRC |  |  | 100 | %* |  | Online learning services
Beijing Denggaoerge Network Technology Limited |  | December 24, 2020 |  | The PRC |  |  | 100 | %* |  | Online learning services
Anhui Denggaoerge Network Technology Co., Ltd. |  | February 12, 2023 |  | The PRC |  |  | 100 | %* |  | Online learning services
| * | The WFOEs have 100% of beneficial interests in the consolidated VIEs (including their subsidiaries).
Schedule of Cost of Revenues, Sales and Marketing Expenses, Research and Development Expenses, and General and Administrative Expenses Allocated | The following tables set forth the cost of revenues, sales and marketing expenses, research and development expenses, and general and administrative expenses allocated from the Predecessors for the years ended June 30, 2022:
For the year ended June 30, 2022: |  | Share based compensation |  | Others |  | Total
|  | RMB |  | RMB |  | RMB
Cost of revenues |  |  | 10,984 |  |  |  | 77 |  |  |  | 11,061 |
Sales and marketing expenses |  |  | 32,406 |  |  |  | 7,172 |  |  |  | 39,578 |
Research and development expenses |  |  | 30,986 |  |  |  | 338 |  |  |  | 31,324 |
General and administrative expenses |  |  | 26,612 |  |  |  | 2,065 |  |  |  | 28,677 |
Total |  |  | 100,988 |  |  |  | 9,652 |  |  |  | 110,640 |
Schedule of Consolidated Financial Information | The following consolidated financial information of the VIEs after the elimination of inter-company transactions between the VIEs and the subsidiaries of the VIEs was included in the accompanying consolidated financial statements of the Group as follows:
|  | As of June 30,
|  | 2023 |  | 2024
|  | RMB |  | RMB
ASSETS |  |  |  |
Current assets: |  |  |  |
Cash and cash equivalents |  |  | 422,076 |  |  |  | 311,071 |
Short-term investments |  |  | 50,213 |  |  |  | - |
Accounts receivable, net |  |  | 12,203 |  |  |  | 16,083 |
Amounts due from related parties |  |  | 29,116 |  |  |  | 4,488 |
Amounts due from intra-Group companies |  |  | - |  |  |  | 149,820 |
Inventory, net |  |  | - |  |  |  | 6 |
Prepayments and other current assets |  |  | 123,734 |  |  |  | 180,818 |
Total current assets |  |  | 637,342 |  |  |  | 662,286 |
Property and equipment, net |  |  | 2,646 |  |  |  | 1,330 |
Operating lease right-of-use assets |  |  | 41,654 |  |  |  | 26,848 |
Deferred tax assets |  |  | 2,084 |  |  |  | 847 |
Other non-current assets |  |  | 12,347 |  |  |  | 10,945 |
Total non-current assets |  |  | 58,731 |  |  |  | 39,970 |
TOTAL ASSETS |  |  | 696,073 |  |  |  | 702,256 |
Accounts payables |  |  | 62,094 |  |  |  | 61,888 |
Accrued expenses and other current liabilities |  |  | 124,532 |  |  |  | 151,918 |
Amounts due to intra-Group companies |  |  | 17,000 |  |  |  | 32,714 |
Income tax payable |  |  | 8,794 |  |  |  | 9,642 |
Contract liabilities, current portion |  |  | 517,213 |  |  |  | 380,548 |
Advance from customers |  |  | 144,397 |  |  |  | 159,806 |
Operating lease liabilities, current portion |  |  | 21,425 |  |  |  | 23,782 |
Total current liabilities |  |  | 895,455 |  |  |  | 820,298 |
Contract liabilities, non-current portion |  |  | 7 |  |  |  | 11,365 |
Operating lease liabilities, non-current portion |  |  | 23,786 |  |  |  | 6,317 |
Total non-current liabilities |  |  | 23,793 |  |  |  | 17,682 |
TOTAL LIABILITIES |  |  | 919,248 |  |  |  | 837,980 |
|  | For the years ended June 30,
|  | 2022 |  | 2023 |  | 2024
|  | RMB |  | RMB |  | RMB
Revenues: |  |  |  |  |  |
- earned from third-party customers |  |  | 2,822,508 |  |  |  | 2,933,413 |  |  |  | 3,752,463 |
- earned from a related party |  |  | 44,710 |  |  |  | 147,921 |  |  |  | 34,107 |
Total revenues |  |  | 2,867,218 |  |  |  | 3,081,334 |  |  |  | 3,786,570 |
Cost of revenues and operating expenses |  |  |  |  |  |  |  |  |  |  |  |
- arising from non intra-Group transactions |  |  | (2,576,144 | ) |  |  | (2,701,287 | ) |  |  | (3,052,384 | )
- arising from the intra-Group technical consulting and related service under VIE Contractual Agreements |  |  | (230,281 | ) |  |  | (392,174 | ) |  |  | (673,373 | )
Total cost of revenues and operating expenses |  |  | (2,806,425 | ) |  |  | (3,093,461 | ) |  |  | (3,725,757 | )
Net (loss)/income |  |  | 62,712 |  |  |  | (15,092 | ) |  |  | 69,773 |
|  | For the years ended June 30, |
|  | 2022 |  |  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |  |  | RMB |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by transactions with third parties |  |  | 495,719 |  |  |  | 548,728 |  |  |  | 644,984 |
Net cash used in transactions with intra-Group companies related to technical consulting and related service under VIE Contractual Agreements |  |  | (239,597 | ) |  |  | (415,703 | ) |  |  | (713,732 | )
Net cash provided by operating activities |  |  | 256,122 |  |  |  | 133,025 |  |  |  | (68,748 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Net cash (used in)/provided by transactions with third parties |  |  | (31,836 | ) |  |  | 9,786 |  |  |  | 56,305 |
Net cash (used in)/provided by transactions with related parties |  |  | (5,912 | ) |  |  | 24,386 |  |  |  | - |
Net cash (used in)/provided by transactions with intra-Group companies* |  |  | (155,960 | ) |  |  | 155,960 |  |  |  | (141,984 | )
Net cash (used in)/provided by investing activities |  |  | (193,708 | ) |  |  | 190,132 |  |  |  | (85,679 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by/(used in) transactions with Predecessors |  |  | (3,691 | ) |  |  | - |  |  |  | - |
Net cash used in transactions with third parties |  |  | - |  |  |  | (1,530 | ) |  |  | (2,250 | )
Net cash provided by/ (used in) transactions with intra-Group companies |  |  | - |  |  |  | 17,000 |  |  |  | 45,672 |
Net cash provided by/ (used in) financing activities |  |  | (3,691 | ) |  |  | 15,470 |  |  |  | 43,422 |
| * | During the year ended June 30, 2022, the VIEs transferred RMB155,960 of its excess cash to the WFOEs for cash management purpose, which have been fully collected during the year ended June 30, 2023. During the year ended June 30, 2024, the VIEs transferred RMB141,984 of its excess cash to certain subsidiaries to support their business.

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