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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of cash and cash equivalents

​

​	​	​	​	​
​		As of December 31,
​		2022		2023
​		RMB		RMB
Financial institutions in the mainland of the PRC	​	​	​	​
—Denominated in EUR		5,986,595	​	18,233,516
—Denominated in RMB		278,917,866	​	334,796,621
—Denominated in GPB	​	244,790	​	504,471
—Denominated in USD		220,296,524	​	499,117,291
​	​	​	​	​
Total cash and cash equivalents balances held at mainland PRC financial institutions		505,445,775	​	852,651,899
​	​	​	​	​
Financial institutions in the United States		​	​	​
—Denominated in USD		10,087,973	​	691,290
​	​	​	​	​
Total cash balances held at United States financial institutions		10,087,973	​	691,290
​	​	​	​	​
Financial institutions in the Hong Kong S.A.R.	​	​	​	​
—Denominated in HKD	​	78,206	​	79,213
—Denominated in USD	​	14,631,590	​	11,477,109
​	​	​	​	​
Total cash balances held at Hong Kong S.A.R. financial institutions	​	14,709,796	​	11,556,322
​	​	​	​	​
Total cash balances held at financial institutions in other locations	​	3,453,514	​	7,203,416
​	​	​	​	​
Total cash and cash equivalents balances held at financial institutions	​	533,697,058	​	872,102,927

Schedule of term deposits

​

​	​	​	​	​
​		As of December 31,
​		2022		2023
​		RMB		RMB
Financial institutions in the mainland of the PRC	​	​	​	​
—Denominated in RMB	​	20,000,000	​	20,000,000
—Denominated in USD	​	208,589,770	​	77,555,565
​	​	​	​	​
Total term deposits held	​	228,589,770	​	97,555,565
Term deposits—current	​	208,589,770	​	97,555,565
Term deposits—non-current		20,000,000	​	—

Schedule of cash and cash equivalents and restricted cash

​

​	​	​	​	​
​	​	As of December 31,
​		2022		2023
​	​	RMB	​	RMB
Cash and cash equivalents		534,286,849		872,573,460
Restricted cash		186,340,321		107,666,733
Total cash, cash equivalents and restricted cash		720,627,170		980,240,193

Schedule of estimated useful lives of property and equipment

​

​	​	​
​	​	Estimated useful lives
Building		50 years
Machinery and equipment	​	3 - 10 years
Furniture		3 - 5 years
Leasehold improvements		The shorter of the estimated useful life or remaining lease term
Office and electronic equipment		2 - 5 years
Motor vehicles		3 - 4 years

​

Summary of changes in contract liabilities (advances from customers and deferred revenue)

​

​	​	​
Contract liabilities as of January 1, 2022		60,718,426
Cash received in advance, excluding VAT		2,852,443,422
Revenue recognized from opening balance of contract liabilities		(50,024,734)
Revenue recognized from contract liabilities arising during 2022		(2,789,235,984)
Contract liabilities as of December 31, 2022		73,901,130
Cash received in advance, excluding VAT		2,118,016,702
Revenue recognized from opening balance of contract liabilities		(62,471,630)
Revenue recognized from contract liabilities arising during 2023		(2,055,218,506)
Contract liabilities as of December 31, 2023		74,227,696

Summary of concentration of customers and suppliers

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For the Year Ended December 31,

​

​

2021

​

2022

2023

​

​

RMB

%

RMB

%

RMB

%

​

Greater than 10% of the total revenue

​

​

​

​

​

​

​

​

​

Customer A

​

*

​

*

​

*

​

*

​

319,208,693

​

12%

​

​

​	​	​	​	​	​	​	​	​	​
​	​	As of December 31,							​
​		2022				2023			​
​		RMB		%		RMB		%	​
Greater than 10% of the accounts receivable		​		​	​	​		​	​
Customer B		135,105,131		45%	​	90,892,779		34%	​
Customer C		*		*	​	32,443,005		12%	​

​

​	​	​	​	​	​	​	​	​	​
​	​	As of December 31,							​
​		2022				2023			​
​		RMB		%		RMB		%	​
Greater than 10% of advances from customers	​	​	​	​	​	​	​	​	​
Customer D	​	2,787,482	​	11%	​	2,396,333	​	12%	​

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​

​

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​

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​

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​

​

​

​

For the Year Ended December 31,

​

​

2021

​

2022

2023

​

​

RMB

%

RMB

%

RMB

%

​

Greater than 10% of total purchase

​

Supplier X

298,264,146

12%

​

354,956,312

13%

​

*

*

​

Supplier Y

*

*

*

*

286,132,811

16%

​

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