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v3.20.1

LAND USE RIGHTS (Tables) | 6 Months Ended
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Dec. 31, 2019
LAND USE RIGHTS |
Schedule of Land use rights consisted | Land use rights consisted of the following:
|  | June 30, |  | December 31, |  | December 31,
|  | 2019 |  | 2019 |  | 2019
|  | RMB |  | RMB |  | U.S. Dollars
Land use rights |  | ¥ | 1,361,969 |  | ¥ | 1,361,969 |  | $ | 195,460
Less: accumulated amortization |  |  | (54,082) |  |  | (67,702) |  |  | (9,716)
Land use rights, net |  | ¥ | 1,307,887 |  | ¥ | 1,294,267 |  | $ | 185,744
Schedule of estimated future amortization expenses | The estimated future amortization expenses are as follows:
Twelve months ending December 31, |  | RMB |  | U.S. Dollars
2020 |  | ¥ | 27,239 |  | $ | 3,909
2021 |  |  | 27,239 |  |  | 3,909
2022 |  |  | 27,239 |  |  | 3,909
2023 |  |  | 27,239 |  |  | 3,909
2024 |  |  | 27,239 |  |  | 3,909
Thereafter |  |  | 1,158,072 |  |  | 166,199
Total |  | ¥ | 1,294,267 |  | $ | 185,744

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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
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