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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2022

INVESTMENTS

Schedule of Investments in equity investees

The Group’s investments comprise the following:

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	Share	​
​	​	​	​	​	​	​	​	ownership as of	​
​		December 31,		December 31,		December 31,		December 31,
​		2021		2022		2022		2022
​		RMB		RMB		US$		​
​	​	​	​	​	​	( Note 3)	​	​
Investments accounted for under equity method:	​	​	​	​	​	​	​	​	​
ZTE9 Network Technology Co., Ltd., Wuxi (“ZTE9”)		—		—		—	​	5.00	%
Skychain Technologies Inc. (“Skychain”) <1>	​	4,609,500	​	—	​	—	​	9.81	%
Maxline Holdings Limited (“Maxline”)		—		—		—	​	29.00	%
Nanyang Herbs Pte. Ltd. (“Nanyang Herbs”) <2>	​	—	​	—	​	—	​	50.00	%
​	​	​	​	​	​	​	​	​	​
Investments accounted for under cost method:		​		​		​	​		​
Shanghai Ronglei Culture Communication Co., Ltd. (“Shanghai Ronglei”) <13>		—		5,000,000		724,932	​	12.92	%
Shanghai The9 Education Technology Co., Ltd. (“The9 Education Technology”)		—		—		—	​	19.20	%
Dragonfly Ventures II, L.P. (“Dragonfly”)<3>	​	19,519,950	​	19,519,950	​	2,830,127	​	1.19	%
Redblock Inc. (“Redblock”) <4>	​	1,942,860	​	1,942,860	​	281,688	​	1.00	%
Gameway Pte.Ltd. (“Gameway”) <14>		—		634,870		92,047	​	1.25	%
Zhenjiang Kexin Power System Design and Research Co., Ltd. (“Zhenjiang Kexin”)	​	—	​	—	​	—	​	9.90	%
Shangdong Shanyeyunye Culture Co., Ltd. (“Shanyeyunye”) <10>	​	—	​	—	​	—	​	10.00	%
Beijing Weiming Naonao Technology Co., Ltd. (“BeijingNaonao”) <11>	​	—	​	—	​	—	​	9.09	%
Shanghai Lingjun Sports Culture Development Co., Ltd. (“Shanghai Lingjun”) <6>	​	6,000,000	​	—	​	—	​	12.76	%
Hangzhou Lianfang Technology Co., Ltd. (“Hangzhou Lianfang”) <7>	​	2,000,000	​	—	​	—	​	4.00	%
Skychain Technologies Inc. (“Skychain”) <1>	​	10,653,015	​	—	​	—	​	15.11	%
Shanghai Institute of Visual Art of Fudan University (“SIVA”) <12>	​	—	​	—	​	—	​	1.28	%
​	​	​	​	​	​	​	​	​	​
Investments accounted for under readily determinable fair values	​	​	​	​	​	​	​	​	​
Nano Labs, Ltd. (“Nano Labs”) <9>	​	—	​	584,566	​	84,754	​	*	​
SMI Vantage(“SMI”) <5>	​	14,850,376	​	6,759,811	​	980,080	​	9.10	%
FF Intelligent Mobility Global Holdings Ltd. (“FF Intelligent”) <8>	​	14,349,418	​	855,338	​	124,013	​	*	​
Total	​	73,915,119	​	35,297,395	​	5,117,641	​	​	​

*Less than 1%

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Tabular disclosure of investment.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-URI https://asc.fasb.org/topic&trid=2197064

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-URI https://asc.fasb.org/topic&trid=75115024

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI https://asc.fasb.org/topic&trid=2196965

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