XML 137 R31.htm IDEA: XBRL DOCUMENT
v3.20.1

COMMITMENTS AND CONTINGENCY | 6 Months Ended
--- | ---
Dec. 31, 2019
COMMITMENTS AND CONTINGENCY |
COMMITMENTS AND CONTINGENCY | NOTE 25. COMMITMENTS AND CONTINGENCY (a) Contingency The Labor Contract Law of the PRC requires employers to assure the liability of severance payments if employees are terminated and have been working for the employers for at least two years prior to January 1, 2008. The employers will be liable for one month of severance pay for each year of the service provided by the employees. As of December 31, 2019, the Company estimated its severance payments of approximately ¥3.4 million ($0.5 million) which has not been reflected in its unaudited condensed consolidated financial statements, because management cannot predict what the actual payment, if any, will be in the future. (b) Purchase commitment The total future minimum purchase commitment under the non-cancellable purchase contracts as of December 31, 2019 are payable as follows:
Year ending December 31, |  | Minimum purchase commitment
2020 |  | ¥ | 2,093,010 |  | $ | 300,375
Thereafter |  |  | — |  |  | —
Total minimum payments required |  | ¥ | 2,093,010 |  | $ | 300,375

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration