NOTE 12. SHORT-TERM BORROWINGS

Short-term borrowings are generally extended upon maturity and consisted of the following:

Short-term borrowings due to non-	June 30, 2012		June 30, 2013		June 30, 2013
related parties:	RMB		RMB		U.S. Dollars
Short-term borrowing, 6% annual interest, due on November 9, 2013 (Originally due on November 9, 2012)	¥	1,078,656	¥	70,375	$	11,372
Short-term borrowing, 6% annual interest, paid in full in March 2013		239,227		-		-
Short-term borrowing with no interest, paid in full in August 2012		949,183		-		-
Short-term borrowings with no interest, beginning April 22,2013, due on April 21, 2014		500,000		500,000		80,799
Total short-term borrowings due to non-related parties	¥	2,767,066	¥	570,375	$	92,171

Interest expense for short-term borrowings due to non-related parties was ¥115,921and ¥47,360 ($7,653) for the year ended June 30, 2012 and 2013, respectively.

Short-term borrowings due to related	June 30, 2012		June 30, 2013		June 30, 2013
parties:	RMB		RMB		U.S. Dollars
Due-on-demand borrowings from Founders, no interest	¥	46,377	¥	6,377	$	1,031
Due-on-demand borrowings from Founder's family member, no interest		-		-		-
Short-term borrowing from a Founder's family member, 6% annual interest, due and paid on March 20, 2013		272,895		-		-
Short-term borrowing from a Founder's family member, 6% annual interest, due and paid on October 21, 2012		3,000,000		-		-
Short-term borrowing from a Founder's family member, 6% annual interest, due and paid on March 27, 2013		200,000		-		-
Short-term borrowing from a Founder's family member, 6% annual interest, due on December 21, 2013		-		3,653,906		590,463
Short-term borrowing from a Founder's family member, 6% annual interest, matures on November 29, 2013		-		1,610,000		260,173
Short-term borrowings fromXiamen Huasheng Haitian Computer Network Co. Ltd., no interest, due on November 14, 2013		200,000		200,000		32,320
Short-term borrowings from management, 6% annual interest, due on December 7, 2013		404,034		32,996		5,333
Total short-term borrowings due to related parties	¥	4,123,306	¥	5,503,279	$	889,318

Interest expense for short-term borrowings due to related parties was ¥163,519 and ¥217,884 ($35,210) for the years ended June 30, 2012 and 2013, respectively.