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RELATED PARTY TRANSACTIONS AND BALANCES | 6 Months Ended
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Dec. 31, 2019
RELATED PARTY TRANSACTIONS AND BALANCES |
RELATED PARTY TRANSACTIONS AND BALANCES | NOTE 26. RELATED PARTY TRANSACTIONS AND BALANCES Sales to related party – sales to related party consisted of the following:
|  | For the six months ended December 31,
|  | 2018 |  | 2019 |  | 2019
|  | RMB |  | RMB |  | U.S. Dollars
Urumqi Yikeli Automatic Control Equipment Co., Ltd. |  | ¥ | 316,983 |  | ¥ | — |  | $ | —
Total revenues from related party |  | ¥ | 316,983 |  | ¥ | — |  | $ | —
Prepaid expenses - related parties - prepaid expenses - related parties consisted of the following:
|  | June 30, |  | December 31, |  | December 31,
|  | 2019 |  | 2019 |  | 2019
|  | RMB |  | RMB |  | U.S. Dollars
Founders |  | ¥ | 132,600 |  | ¥ | — |  | $ | —
Founders' family member |  |  | 85,000 |  |  | — |  |  | —
Total prepaid expenses - related parties |  | ¥ | 217,600 |  | ¥ | — |  | $ | —
Leases from related parties - The Company has various agreements for the lease of office space owned by the Founders and their family members. The terms of the agreement state that the Company will continue to lease the property at a monthly rent of ¥140,000 with annual rental expense at ¥1.68 million ($0.24 million). The details of leases from related parties are as below:
|  |  |  |  |  | Monthly Rent |  | Monthly Rent
Lessee |  | Lessor |  | Rent Period |  | RMB |  | USD
Nanjing Recon |  | One of the Founders |  | April 1, 2018 - March 31, 2020 |  | ¥ | 60,000 |  | $ | 8,611
BHD |  | One of the Founders |  | January 1, 2019 - December 31, 2019 |  |  | 22,500 |  |  | 3,229
BHD |  | Founders' family member |  | January 1, 2019 - December 31, 2019 |  |  | 47,500 |  |  | 6,817
Recon-BJ |  | One of the Founders |  | July 1, 2019 - June 30, 2020 |  |  | 10,000 |  |  | 1,435
As of December 31, 2019, the operating lease ROU assets and corresponding operating lease liabilities of leases from related parties was ¥178,543 ($25,623) and ¥178,543 ($25,623), respectively.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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