WARRANTS LIABILITY (Details 2) - 12 months ended Jun. 30, 2015	USD ($)	CNY (¥)
Warrants Liability [Line Items]
Beginning balance - June 30, 2014	$ 824,731	¥ 5,021,621
Warrant redemption	(153,261)	(987,349)
Change of warrant liability	(662,573)	(4,034,272)
Ending balance -June 30, 2015	$ 0	¥ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References + Details