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CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Dec. 31, 2022
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ 7,288,806 ¥ 52,394,857 ¥ (266,199,240) ¥ (46,544,565)
Adjustments to reconcile net loss to net cash (used in)/provided by operating activities:        
Depreciation and amortization 46,095 331,347 1,041,272 9,246,249
Credit losses (681,308) (4,897,513) (1,307,865) 6,034,215
Stock compensation expenses 119,618,420
Deferred tax (benefit)/expense 76,165 547,502 (2,666,911) (3,901,192)
Loss/(Gain) from short-term investments-unrealized (2,256,271) (16,218,978) (124,104) 1,064,204
Loss from disposal of property and equipment 261 1,876
(Gain)/Loss from disposal of subsidiaries 7,612,059 54,718,523 (65,587)
Amortization of operating lease right-of-use assets 139,906 1,005,700 802,313 978,197
Impairment loss for goodwill 106,274,006 35,493,300
Impairment loss for long-lived assets 6,602,198 13,713,233
Change in fair value of warrant liabilities (832,355)
Change in operating assets and liabilities:        
Accounts receivables (97,763) (702,759) (350,576) (6,448,443)
Inventories 909,047 4,649,193
Prepaid services fees (633,141) (4,551,268) (22,566,719) 1,715,886
Other receivables and prepaid expenses 524,801 3,772,477 959,320
Prepaid expenses and deposits 125,755
Accounts payable (325,202) (2,337,683) 6,711,558 948,491
Deferred revenues (968,651) (6,963,049) (833,113) (2,312,407)
Other payables and accrued liabilities (7,260,971) (52,194,764) 7,524,461 (367,174)
Operating lease liabilities (136,251) (979,430) (984,005) (922,322)
Taxes payable 746,947 5,369,351 137,252 (382,068)
Net cash provided by/ (used in) operating activities 4,075,482 29,296,189 (45,412,006) 13,151,930
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of long-term investment (600,000)
Sale of long term investments 1,256,260
Purchases of property and equipment (3,984) (28,641) 437,873 (1,082,389)
Purchases of short term investments (50,911,295) (365,970,754) (18,411,162) (109,791,056)
Redemption of short-term investments 34,919,856 251,017,894 108,726,852
Loss from short-term investment-realized (1,340,557) (9,636,457)
Cash received from acquisitions 2,033
Collection from third party investment 21,335,190
Net cash provided by/(used in) investing activities (17,335,980) (124,617,958) (16,717,029) 18,590,629
CASH FLOWS FROM FINANCING ACTIVITIES:        
Loan to related party (151,078) (1,086,012)
Loan to Parent (2,417,647) (17,379,013) (38,618,394)
Repayment to Parent (201,054,030)
Proceeds from Parent 37,461,686 84,405,291
Proceeds from banking facility 2,523,510 18,140,000 13,500,000
Payments to banking facility (2,314,841) (16,640,000)
Proceeds from related party loans 25,591,431
Stock issuance 17,952,065 129,046,621
Issuance of convertible notes payable 96,955,739 696,956,634
Cash received from recapitalization of MicroAlgo 138,970,347
Net cash (used in)/ provided by financing activities 112,547,748 809,038,230 76,553,117 (16,296,787)
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS 696,158 5,004,259 5,077,311 9,896,303
CHANGE IN CASH AND CASH EQUIVALENTS 99,983,408 718,720,720 19,501,393 25,342,076
CASH AND CASH EQUIVALENTS, at beginning of year 44,128,325 317,212,066 297,710,673 272,368,597
CASH AND CASH EQUIVALENTS, at end of year 144,111,733 1,035,932,786 317,212,066 297,710,673
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid for income taxes 14,724 105,845 235,198 1,250,425
Cash paid for interest 105,654 759,480 124,995 20,124
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Deferred offering cost to offset proceed from recapitalization 3,689,844
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 146,815 1,055,364 586,741 742,238
Shares converted from convertible notes payable $ 76,215,259 ¥ 547,865,768