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Consolidated Statements of Cash Flows - CNY (¥)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flow from operating activities:      
Net loss ¥ (408,985,210) ¥ (872,926,433) ¥ (744,748,251)
Net loss / (income) from discontinued operations (51,443,794) 33,196,461
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 169,680,769 163,149,386 133,402,504
Loss on disposal of property and equipment 4,146,858 16,404,477 8,835,137
Loss on disposal of intangible assets 125,747 646,162
Provision for Inventories write-down 3,407,308 11,589,111 387,999
Allowance for doubtful accounts 8,662,226 2,602,855 2,356,034
Impairment losses of long-lived assets 56,287,026 111,426,961 7,222,765
Share-based payment expenses 1,045,008 64,476,991 74,686,711
Unrealized foreign currency transaction loss (gains) (1,209,646) 4,966,290 2,369,080
Transaction cost for issuance of convertible notes 3,784,959
Changes in fair value of Deferred Contingent consideration 16,941,248 26,106,460
Changes in fair value of convertible notes 65,874,310 58,280,908 4,493,605
Changes in fair value of warrant liabilities 83,966,126 (45,903,468)
Changes in fair value of ESA derivative liabilities (19,654,006) 186,598,308
Loss of debt distinguishment 10,657,161
Accrued interests on promissory notes 5,269,007
Changes in operating assets and liabilities, net of effects of acquisitions and disposals:      
Accounts receivable (11,626,637) (24,547,169) 1,844,063
Amounts due from related parties (1,092,991)
Inventories 8,880,522 10,012,161 (29,376,113)
Prepaid expenses and other current assets (2,027,059) (48,579,798) 16,088,529
Other non-current assets 9,887,639 18,416,158 (14,959,136)
Accounts payable 4,062,778 109,135,149 44,720,900
Amounts due to related parties 130,391,595 28,777,686 8,411,048
Contract liabilities 1,712,807 20,553,014 10,333,684
Other current liabilities (76,675,057) (1,066,449) 35,009,222
Other non-current liabilities (963,571) 716,728 (39,247,754)
Right-of-use assets and lease liabilities 6,825,974 4,211,516 50,546,769
Net cash used in operating activities from continuing operations (46,381,023) (198,139,255) (286,928,364)
Net cash provided by operating activities from discontinued operations 6,714,061 2,009,374
Net cash used in operating activities (39,666,962) (196,129,881) (286,928,364)
Cash flows from investing activities:      
Purchase of property and equipment and intangible assets (102,838,582) (291,667,204) (334,930,178)
Purchase of short-term investments (370,242,173)
Purchase of time deposits (17,165,400)
Proceeds from disposal of property and equipment 9,839,495 271,437
Proceeds from maturity of time deposits 17,165,400
Proceeds from disposal of short-term investments 369,297,715
Net cash (used in) / provided by investing activities from continuing operations (75,833,687) 60,736,548 (705,172,351)
Net cash provided by (used in) investing activities from discontinued operations 67,796,931 (737,636)
Net cash (used in) / provided by investing activities (8,036,756) 59,998,912 (705,172,351)
Cash flows from financing activities:      
Proceeds from convertible notes 41,104,980
Payment of issuance costs of convertible notes (3,784,959)    
Proceeds from issuance of promissory notes 142,536,000  
Proceeds from bank borrowings 700,060,825 1,003,893,914 707,579,122
Repayment of bank borrowings (862,297,171) (877,002,532) (494,930,388)
Proceeds from issuance of preferred shares 713
Payments to Shaolin Capital Management LLC due to ESA Transaction (249,470,932)
Proceed from exercise of employee share option 8,383,181 1,412,126
Payment of offering costs (4,657,323) (81,688,831)
Proceeds from financing through Popeyes Transaction 206,658,000
Proceeds from Merger Transaction 24,237,896
Proceeds from equity financing through PIPE Transaction 316,426,861
Proceeds from equity financing through ESA Transaction 355,535,000
Net cash provided by financing activities from continuing operations 26,003,569 80,833,253 827,159,660
Net cash provided by financing activities 26,003,569 80,833,253 827,159,660
Effect of foreign currency exchange rate changes on cash and cash equivalents 2,350,888 19,806,978 13,181,099
Net decrease in cash and cash equivalents and restricted cash (19,349,261) (35,490,738) (151,759,956)
Cash and cash equivalents and restricted cash, beginning of the year 203,586,692 239,077,430 390,837,386
Cash and cash equivalents and restricted cash, at end of year 184,237,431 203,586,692 239,077,430
Less: Cash and restricted cash of discontinued operations at end of year (1,271,738)
Cash, cash equivalents and restricted cash at end of the year 184,237,431 202,314,954 239,077,430
Supplemental disclosure of cash flow information:      
Interest expenses paid 17,912,322 20,048,704 13,678,165
Income tax paid 151,983
Supplemental disclosure of non-cash investing and financing activities:      
Settlement of promissory notes through issuance of convertible notes 147,819,389
Purchase of property and equipment with unpaid costs accrued within other current liabilities 75,330,611 116,595,550 139,578,631
Exchange of Public and Private warrants by issuance of ordinary shares 105,931,381
Issuance of ordinary shares to settle bonus 1,355,772
Accrued offering costs 4,039,468
Settlement of payment of coffee beans and franchise fee through issuance of convertible notes 134,277,011
Settlement of deferred contingent consideration in exchange of issuance convertible note to Cartesian 100,569,154
Settlement of deferred contingent consideration in exchange of consideration for Popeyes Disposal 11,174,350
Non-cash effect of disposal of Popeyes China ¥ 17,764,115