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CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities:        
Net (loss) income ¥ (979,492,255) $ (142,013,027) ¥ (416,825,268) ¥ 393,433,738
Adjustments to reconcile net (loss) income to net cash used in operating activities:        
Gain on disposal of property, equipment and software (8,839,140) (1,281,555) (3,908,778) (29,793)
(Gain) loss on disposal of subsidiaries 3,748,717 543,513 (15,015,770) (475,588,803)
Gain on disposal of other investments       (2,818,643)
Share-based compensation expenses 202,345,626 29,337,358 150,166,481 55,056,426
Impairment on equity investments 17,300,000 2,501,380 7,599,505 1,172,755
Impairment (gain) on other investments 29,958,381 4,343,557 (17,245,513) 18,000,000
Impairment on advance and other assets 159,224,137 23,085,330   20,699,885
Impairment loss of equipment, intangible assets and long lived assets 176,874,099 25,600,000 11,639,246 6,515,200
Impairment of cryptocurrencies 58,624,256 8,499,718 50,887,472  
Provision for doubtful accounts receivable     320,729 103,501
Provision for doubtful other receivables 20,835,972 3,020,932 298,221 2,244,446
Consulting fees paid by issuance of shares       6,781,815
Gain on extinguishment of convertible notes       (56,755,902)
Gain from change in fair value of conversion feature derivative liability (37,249,976) (5,400,739) (62,246,860)  
Depreciation and amortization of property, equipment and software 91,380,588 13,248,940 47,435,448 447,782
Share of loss in equity method investments     1,725,152 2,165,935
Gain on disposal of investment in equity investee and available-for-sales investment (711,914) (103,218)   (174,295)
Foreign currency exchange loss 6,301,271 913,598 6,449,136 8,319,669
Fair value change on warrant liability       (37,851)
Exchange rate change on convertible notes face value     (2,296,722)  
Amortization of discount and interest on convertible notes 23,197,049 3,363,256 120,626,467 2,923,316
Cancellation of ordinary shares (1,876,314) (272,040)    
Gain on waiver of interest-free loan       (35,397,500)
Royalty fee paid by issuance of shares     1,188,828  
Payment of issuance cost by issuance of shares (2,985,626) (432,875)   455,658
Non-cash lease expense 5,112,096 741,184 3,893,019 699,733
Changes in operating assets and liabilities:        
Change in accounts receivable 3,530,850 511,925 (13,628,485) 3,955
Change in advances to suppliers 2,750,794 398,828 (2,753,414) (19,575,974)
Change in prepayments and other current assets 72,383,805 10,494,665 (537,076,522) (2,877,084)
Change in right-of-use assets       3,408,781
Change in accounts payable 121,755,135 17,652,835 38,799,942 (2,635,008)
Change in amounts due to related parties     44,543 (1,550,100)
Change in other taxes payable 142,764 20,699 (2,833,161) 89,779
Change in advances from customers (1,234,725) (179,018) 3,174,181 (1,515,786)
Change in interest payable 1,192,955 172,962 937,328 (5,371,931)
Change in accrued expenses and other current liabilities (71,722,378) (10,398,767) 60,345,979 (21,039,288)
Change in lease liabilities (4,485,413) (650,324) (4,485,278) (3,407,670)
Change in cryptocurrencies (42,755,445) (6,198,957) (114,904,483)  
Net cash used in operating activities (154,700,000) (22,400,000) (687,688,577) (106,253,254)
Cash flows from investing activities        
Proceeds from disposal of subsidiaries       443,939,997
Proceeds from disposal of other investments 16,638,067 2,412,293    
Proceeds from disposal of property, equipment and software 407,228 59,043 11,725,873 183,003
Payment for financial products     (800,000)  
Proceeds from financial products 800,000 115,989    
Proceeds from sales of Cryptocurrencies 5,637,172 817,313    
Refund from subscribed tokens and other investment 4,500,000 652,439   5,838,471
Purchase of equity method investments     (13,934,157) (3,338,690)
Purchase of other investments (23,161,897) (3,358,159) (46,611,013) (8,000,000)
Contribution from shareholder 40,000 5,799    
Decrease in cash and cash equivalents on disposal of subsidiaries     (239,182)  
Purchase of property, equipment and software (247,330,128) (35,859,498) (75,621,008) (359,573)
Purchase of intangible assets (6,315,981) (915,731) (16,403,586)  
Net cash (used in) provided by investing activities (248,785,539) (36,070,512) (141,883,073) 438,263,208
Cash flows from financing activities:        
Proceeds from the issuance of ordinary shares and warrants     1,011,476,118 47,430,195
Proceeds from warrants exercises     64,471,143  
Proceeds from the issuance of convertible note 33,704,460 4,886,687 161,588,128 3,358,369
ADS issuance fee     (3,720,691) (7,849,390)
Repayment of loans from a related party (2,631,400) (381,517) (6,378,690) (42,545,136)
Proceeds from other loans 2,466,480 357,606    
Repayments of other loans (513,850) (74,501)    
Repayments of convertible notes       (318,929,623)
Net cash (used in) provided by financing activities 33,025,690 4,788,275 1,227,436,008 (310,686,195)
Effect of foreign exchange rate changes on cash and cash equivalents 144,985 21,020 (1,139,822) 259,337
Net change in cash and cash equivalents (370,357,040) (53,696,723) 396,724,536 21,583,096
Cash and cash equivalents, beginning of year 428,420,773 62,115,173 31,696,237 10,113,141
Cash and cash equivalents, end of year 58,063,733 8,418,450 428,420,773 31,696,237
Supplemental disclosure of cash flow information:        
Interest paid       47,695,297
Income taxes paid       7,165,097
Non-cash investing and financing activities        
Cash paid for amounts included in the measurement of operating lease liabilities 2,381,173 345,238 4,813,050 ¥ 2,842,464
Investment in an investment security in exchange of mining machine 2,115,187 306,673    
Investment in an investment security in USDT 634,870 92,047    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 10,810,069 1,567,313 5,107,653  
Share issued for purchase of Bitcoin mining machine     144,216,693  
Share cancellation for decrease the mining machine 17,640,000 2,557,560    
Share issued for repayments of convertible notes ¥ 57,290,299 $ 8,306,313 46,719,202  
Conversion of warrant payable     ¥ 1,854,957