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VARIABLE INTEREST ENTITIES
12 Months Ended
Jun. 30, 2013
Disclosure Of Variable Interest Entities [Abstract]  
Disclosure Of Variable Interest Entities [Text Block]
NOTE 20. Variable Interest Entities
 
The Company reports its VIEs’ portion of consolidated net income and stockholders’ equity as non-controlling interests in the consolidated financial statements.
 
Summary information regarding consolidated VIEs is as follows:
 
 
 
June 30, 
2012
 
June 30, 
2013
 
June 30, 
2013
 
 
 
RMB
 
RMB
 
U.S.
Dollars
 
ASSETS
 
 
 
 
 
 
 
 
 
 
Current Assets
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
¥
2,182,179
 
¥
10,341,778
 
$
1,671,209
 
Trade accounts receivable, net
 
 
82,388,691
 
 
57,393,144
 
 
9,274,610
 
Notes receivable
 
 
-
 
 
2,578,855
 
 
416,738
 
Purchase advances
 
 
17,319,150
 
 
17,862,507
 
 
2,886,543
 
Other assets
 
 
31,322,790
 
 
29,974,454
 
 
4,843,808
 
Total current assets
 
¥
133,212,810
 
¥
118,150,738
 
$
19,092,908
 
 
 
 
 
 
 
 
 
 
 
 
Non-current assets
 
 
1,768,588
 
 
1,705,940
 
 
275,676
 
Total Assets
 
¥
134,981,398
 
¥
119,856,678
 
$
19,368,584
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
 
 
 
 
Trade accounts payable
 
¥
17,244,791
 
¥
11,378,883
 
$
1,838,803
 
Taxes payable
 
 
9,681,620
 
 
6,754,428
 
 
1,091,501
 
Other liabilities
 
 
35,613,109
 
 
24,770,161
 
 
4,002,806
 
Total current liabilities
 
 
62,539,520
 
 
42,903,472
 
 
6,933,110
 
Total Liabilities
 
¥
62,539,520
 
¥
42,903,472
 
$
6,933,110
 
 
The financial performance of VIEs reported in the consolidated statement of operations and comprehensive income for the year ended June 30, 2013 includes revenues of ¥76,585,729 ($12,376,091), operating expenses of ¥19,259,234 ($3,112,251), other expenses of ¥132,040 ($21,337) and net profit of ¥6,442,702 ($1,041,127).