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TAXATION (Tables)

12 Months Ended

Dec. 31, 2022

TAXATION

Schedule of composition of income tax expense

The current and deferred portions of income tax expense included in the consolidated statements of operations and comprehensive loss are as follows:

​

​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31,
​		2020		2021		2022		2022
​		RMB		RMB		RMB		US$
​	​	​	​	​	​	​	​	(Note 3)
PRC		7,165,097		—		—		—
Deferred tax assets		​		​		​		​
PRC		25,905,564	​	4,915,611	​	(35,242,565)	​	(5,109,692)
Other jurisdictions		(44,312,311)	​	(183,867,203)	​	—	​	—
Subtotal		(18,406,747)	​	(178,951,592)	​	(35,242,565)	​	(5,109,692)
Change in valuation allowance		​		​		​		​
PRC		(25,905,564)	​	(4,915,611)	​	35,242,565	​	5,109,692
Other jurisdictions		44,312,311	​	183,867,203	​	—	​	—
Subtotal		18,406,747	​	178,951,592	​	35,242,565	​	5,109,692
Income tax expense		7,165,097		—	​	—	​	—

​

Schedule of reconciliation between statutory EIT rate and Group's effective tax rate

Reconciliation between the statutory EIT rate and the Group’s effective tax rate is as follows:

​

​	​	​	​	​	​	​	​
​		For the year ended		For the year ended		For the year ended
​	​	December 31,	​	December 31,	​	December 31,
​		2020		2021		2022
​	​	​	​	​	​	​	​
PRC statutory EIT rate		25	%	25	%	25	%
Effect of different tax rates in other jurisdictions		(10)	%	0	%	0	%
Change in future tax rate (upon expiration of preferential rate)		0	%	0	%	0	%
Change of prior year deferred tax assets		1	%	(19)	%	(11)	%
Change of valuation allowance		(10)	%	(28)	%	(20)	%
Income not subject to tax and non-deductible expenses, net		0	%	0	%	0	%
Effect of expired net operating loss		(6)	%	22	%	6	%
PRC withholding tax	​	2	%	0	%	0	%
Effective EIT rate		2	%	0	%	0	%

​

Schedule of significant components of deferred tax assets and liabilities

Significant components of deferred tax assets

​

​	​	​	​	​	​	​
​		For the year ended		For the year ended		For the year ended
​	​	December 31,	​	December 31,	​	December 31,
​		2021		2022		2022
​		RMB		RMB		US$
​	​	​	​	​	​	(Note 3)
Temporary differences related to expenses and accruals		1,059,821		838,333		121,547
Temporary differences related to impairment on advances to suppliers		1,955,941		1,955,941		283,585
Temporary differences related to provision for doubtful accounts		631,200		631,200		91,515
Temporary differences related to depreciation, amortization, and impairment of equipment and intangible assets		17,022,219		(3,466,064)		(502,532)
Startup expenses and advertising fees		105,917		105,917		15,357
Temporary differences related to equity investments		11,740,058		9,252,558		1,341,495
Temporary differences related to provision for prepayment for equipment		5,000,000		—		—
Tax loss carry forwards		86,367,347		79,322,053		11,500,617
Total deferred tax assets		123,882,503		88,639,938		12,851,584
Less: Valuation allowance		(123,882,503)		(88,639,938)		(12,851,584)
Total deferred tax assets		—		—		—

​

Schedule of movement of valuation allowance on deferred tax assets

Movement of valuation allowance on deferred tax assets

​

​	​	​	​	​	​	​
​		For the year ended		For the year ended		For the year ended
​	​	December 31,	​	December 31,	​	December 31,
​	​	2021	​	2022	​	2022
​		RMB		RMB		US$
​	​	​	​	​	​	(Note 3)
Beginning balance		302,834,095	​	123,882,503	​	17,961,276
Decrease in valuation allowance		(178,951,592)	​	(35,242,565)	​	(5,109,692)
Ending balance		123,882,503	​	88,639,938	​	12,851,584

​

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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 valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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