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CONDENSED BALANCE SHEETS
Dec. 31, 2019
USD ($)
Dec. 31, 2019
CNY (¥)
Jun. 30, 2019
CNY (¥)
Current assets      
Cash $ 1,481,806 ¥ 10,325,219 ¥ 4,521,325
Notes receivable 582,736 4,060,506 3,073,680
Trade accounts receivable, net 9,050,441 63,063,443 68,535,282
Trade accounts receivable-related party, net 489,368 3,409,912 3,409,912
Inventories, net 257,809 1,796,411 1,270,523
Other receivables, net 686,684 4,784,811 5,665,593
Loans to third parties 0 0 4,960,000
Purchase advances, net 26,862 187,174 1,343,576
Contract assets, net 2,095,996 14,604,897 4,633,940
Prepaid expenses 10,896 75,920 192,837
Prepaid expenses - related parties 0 0 217,600
Total current assets 14,682,598 102,308,293 97,824,268
Property and equipment, net 468,890 3,267,226 3,661,321
Construction in progress 3,321,421 23,143,654 21,524,994
Land use right, net 185,744 1,294,267 1,307,887
Investment in unconsolidated entity 4,480,521 31,220,259 31,078,971
Long-term other receivables, net 3,433 23,922 440,015
Prepayments for construction in progress 152,039 1,059,404 1,144,098
Right of use assets 76,420 532,491 0
Total Assets 23,371,066 162,849,516 156,981,554
Current liabilities      
Short-term bank loan 358,783 2,500,000 2,500,000
Trade accounts payable 2,107,972 14,688,353 14,089,293
Other payables 299,464 2,086,665 2,246,410
Advance from customers 290,579 2,024,753 120,000
Accrued payroll and employees' welfare 414,170 2,885,935 1,384,529
Investment payable 918,485 6,400,000 6,400,000
Taxes payable 406,387 2,831,702 2,180,847
Short-term borrowings 0 0 1,081,096
Total Current Liabilities 7,302,466 50,883,571 42,084,370
Operating lease liabilities - current 91,919 640,491 0
Total Liabilities 8,421,408 58,680,353 50,280,574
Commitments and Contingencies
Equity      
Common stock, ($ 0.0925 U.S. dollar par value, 20,000,000 shares authorized; 4,611,720 shares and 4,361,634 shares issued and outstanding as of December 31, 2019 and June 30, 2019, respectively) [1] 412,777 2,876,228 2,712,773
Additional paid-in capital 36,531,641 254,552,363 250,624,798
Statutory reserve 647,107 4,509,040 4,148,929
Accumulated deficit (24,661,634) (171,842,193) (164,780,885)
Accumulated other comprehensive gain 418,994 2,919,546 2,909,936
Total stockholders' equity 13,348,885 93,014,984 95,615,551
Non-controlling interests 1,600,773 11,154,179 11,085,429
Total equity 14,949,658 104,169,163 106,700,980
Total Liabilities and Equity 23,371,066 162,849,516 156,981,554
Related Party [Member]      
Current liabilities      
Other payables 585,682 4,081,028 2,290,873
Short-term borrowings 1,712,301 11,931,310 9,010,525
Long-term borrowings - related party - current portion 116,724 813,334 780,797
Long-term borrowings - related party $ 1,118,942 ¥ 7,796,782 ¥ 8,196,204
[1] Retrospectively restated for effect of stock split on December 27, 2019