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SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Dec. 31, 2019
SIGNIFICANT ACCOUNTING POLICIES  
Schedule of estimated useful life

 

 

 

Items

    

Useful life

Motor vehicles

 

5-10 years

Office equipment

 

2-5 years

Production equipment

 

10 years

 

Summary of information about contract assets and contract liabilities from contracts with customers

The following table provides information about contract assets and contract liabilities from contracts with customers:

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December

    

December

 

 

2019

 

31, 2019

 

31, 2019

 

 

RMB

 

RMB

 

U.S. Dollars

Contract assets

 

¥

4,633,940

 

¥

14,604,897

 

$

2,095,996

Contract liabilities

 

¥  

120,000

 

¥

2,024,753

 

$

290,579