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Intangible Asset, Net
 12 Months Ended
Dec. 31, 2024
Intangible Asset, Net [Abstract]  
Intangible asset, net
8. Intangible asset, net

 

Intangible asset, net consists of the following:

 

   As of December 31, 
   2023   2024 
   RMB   RMB 
Land use right   49,292,208    49,292,208 
Franchise right   334,865    334,865 
Less: Accumulated amortization   (1,895,785)   (2,881,629)
Intangible asset, net   47,731,288    46,745,444 

 

Amortization expense for the years ended December 31, 2022, 2023 and 2024 amounted to RMB575,076, RMB985,844 and RMB985,844, respectively.

 

As of December 31, 2023 and 2024, land use right with net book value of RMB47,731,288 and RMB46,745,444 was pledged as collateral under a loan arrangement (also see Note 11).

As of December 31, 2024, the future estimated amortization expenses are as below.

 

   Estimated amortization expense 
Years ended December 31,  RMB 
2025   985,844 
2026   985,844 
2027   985,844 
2028   985,844 
2029   985,844 
Thereafter   41,816,224 
Total   46,745,444