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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Schedule of accrued expenses and other current liabilities

​

​	​	​	​	​
​	​	As of December 31,
​		2022		2023
​		RMB		RMB
Refundable payment from franchised stores—current	​	41,735,515	​	39,203,959
Accrued selling and marketing expenses	​	8,506,658	​	29,159,625
Accrued payroll and social insurance	​	28,508,469	​	17,566,486
Warranty—current		24,797,169		16,736,341
Construction payable		16,512,545		14,372,306
Operating lease liabilities—current (Note 20)	​	7,743,648	​	5,094,066
Sales rebate		13,878,273		4,975,640
Other taxes payable	​	18,813,540	​	3,542,993
Interest payable	​	280,000	​	87,671
Others*		31,317,126		34,772,309
​	​	​	​	​
Accrued expenses and other current liabilities		192,092,943		165,511,396

* Others mainly include accrued professional fees and other general corporate expenses.

Schedule of movement of provision for warranty

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​		2021		2022		2023
Accrued warranty—beginning of year		59,195,896		47,788,122		33,812,290
Accrual for warranties issued during the year		35,181,557		20,355,810		23,248,155
Warranty claims paid		(22,554,689)		(23,894,070)		(30,051,582)
Pre-existing warranty expired		(24,034,642)		(10,437,572)		(1,683,024)
Accrued warranty—end of year		47,788,122		33,812,290		25,325,839

​

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- Definition

Tabular disclosure of accrued expenses and other current liabilities.

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126907703&loc=d3e12565-110249

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