VARIABLE INTEREST ENTITIES

3 Months Ended

Sep. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Disclosure Of Variable Interest Entities [Text Block]

NOTE 20. Variable Interest Entities

The Company reports its VIEs’ portion of unaudited condensed consolidated net income and stockholders’ equity as non-controlling interests in the unaudited condensed consolidated financial statements.

Summary information regarding consolidated VIEs is as follows:

	June 30, 2015		September 30, 2015		September 30, 2015
	RMB		RMB		U.S. Dollars
ASSETS
Current Assets
Cash and cash equivalents	¥	7,096,901	¥	663,329	$	104,399
Notes receivable		4,205,530		3,227,580		507,976
Trade accounts receivable, net		56,956,197		51,501,307		8,105,591
Purchase advances		19,016,573		17,410,721		2,740,206
Other assets		28,792,279		29,673,763		4,670,239
Total current assets	¥	116,067,480	¥	102,476,700	$	16,128,411

Non-current assets		7,088,383		6,267,272		986,382
Total Assets	¥	123,155,863	¥	108,743,972	$	17,114,793

LIABILITIES
Trade accounts payable	¥	17,155,793	¥	16,683,704	$	2,625,784
Taxes payable		1,153,216		2,660,650		418,749
Other liabilities		31,386,734		22,084,898		3,475,857
Total current liabilities		49,695,743		41,429,252		6,520,390
Total Liabilities	¥	49,695,743	¥	41,429,252	$	6,520,390

The financial performance of VIEs reported in the unaudited condensed consolidated statement of operations and comprehensive income for the three months ended September 30, 2015 includes revenues of ¥3,593,960 ($565,639), operating expenses of ¥4,362,377 ($686,578), and net loss of ¥6,242,390 ($982,466).