Warrants liability (Tables)

6 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

These common stock purchase warrants do not trade in an active securities market, and as such, their fair value is estimated by using the Cox-Ross-Rubinstein (CRR) Binomial Model using the following assumptions:

	December 31,		November 29,
	2013		2013

Annual dividend yield	-		-

Exercised price	5.38		5.38

Underlying price at grant date	3.86		3.86

Expected life (years)	3		3

Risk-free interest rate	0.78	%	0.56	%

Expected volatility	272	%	272	%

Schedule Of Fair Value Hierarchy Measured On Recurring Basis For Warrants Liability [Table Text Block]

The following table sets forth by level within the fair value hierarchy the warrants liability that was accounted at fair value on a recurring basis.

							Carrying Value at		Carrying Value at
	Fair Value Measurement at December 31, 2013						December 31, 2013		December 31, 2013
	Level 1		Level 2		Level 3		RMB		USD

Warrants liability	¥	-	¥	5,044,722	¥	-	¥	5,044,722	$	825,596

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for six months ended December 31, 2013:

For the six months ended December 31, 2013:

	Changes in warrants liability
	RMB		USD

Beginning balance - June 30, 2013	¥	-	$	-

Initial measurement of warrants liability on November 29, 2013		5,045,278		825,687
Change in warrants liability from November 29, 2013 to December 31, 2013		(556)		(91)
Ending balance - December 31, 2013	¥	5,044,722	$	825,596