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PURCHASE ADVANCES

12 Months Ended

Jun. 30, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets Disclosure [Text Block]

NOTE 5. PURCHASE ADVANCES

The Company purchased products and services from a third-party and a related party during the normal course of business. Purchase advances consisted of the following:

		June 30, 2014			June 30, 2015			June 30, 2015
Third Party		RMB			RMB			U.S. Dollars
Prepayment for inventory purchase		¥	27,119,326		¥	22,845,030		$	3,751,976
Allowance for doubtful accounts			(1,360,261)			(4,222,492)			(693,486)
Total		¥	25,759,065		¥	18,622,538		$	3,058,490

Below is a summary of purchase advances to related party.

		June 30, 2014			June 30, 2015			June 30, 2015
Related Party		RMB			RMB			U.S. Dollars
Xiamen Huangsheng Hitek Computer Network Co. Ltd. (A)		¥	394,034		¥	394,034		$	64,715
Total		¥	394,034		¥	394,034		$	64,715

One of the Founders of the Company and his family member collectively own 57% of Xiamen Huasheng Haitian Computer Network Co. Ltd. Between August 10, 2015 and September 1, 2015, materials purchased have been delivered to the Company and this balance was settled in full.

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- Definition

The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.

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