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TRADE ACCOUNTS RECEIVABLE, NET

12 Months Ended

Jun. 30, 2022

TRADE ACCOUNTS RECEIVABLE, NET

TRADE ACCOUNTS RECEIVABLE, NET

NOTE 4. TRADE ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consisted of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2021		​	2022		​	2022
Third Parties	​	RMB		​	RMB		​	U.S. Dollars
Trade accounts receivable		¥	31,669,331		¥	27,206,752	​	$	4,062,089
Allowance for credit losses		​	(4,982,443)		​	(4,628,772)	​		(691,095)
Total third-parties, net		¥	26,686,888		¥	22,577,980	​	$	3,370,994

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2021		​	2022		​	2022
Third Parties- long-term	​	RMB		​	RMB		​	U.S. Dollars
Trade accounts receivable	​	¥	4,332,984	​	¥	4,983,698	​	$	744,089
Allowance for credit losses	​		(4,332,984)	​		(4,983,698)	​		(744,089)
Total third-parties, net	​	¥	—	​	¥	—	​	$	—

​

Provision for credit losses of accounts receivable due from third parties was ¥2,204,170, ¥3,730,606 and ¥153,329 ($22,893) for the years ended June 30, 2020, 2021 and 2022, respectively.

The decrease in allowance for credit losses of accounts receivable due from third parties was mainly resulted by the management’s efforts in collection receivables from our customers, and as the date of this report, approximately 68.2%, or ¥15.4 million ($2.3 million) of net outstanding balance as of June 30, 2022 has been collected as of the date of the report.

Provision for credit losses made for accounts receivable due from related-party was ¥340,992 for the year ended June 30, 2020, while net recovery of provision for credit losses made for accounts receivable due from related-party was ¥340,992 for the year ended June 30, 2021. No provision made for credit losses of accounts receivable due from related party for the year ended June 30, 2022.

Movement of allowance for doubtful accounts is as follows:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2021		​	2022		​	2022
​	​	RMB		​	RMB		​	U.S. Dollars
Beginning balance		¥	5,849,504		¥	9,315,427	​	$	1,390,834
Charge to credit losses		​	3,730,606		​	153,329	​		22,893
Less: write-off		​	(254,853)		​	—	​		—
Foreign currency translation adjustments	​	​	(9,830)	​	​	143,714	​	​	21,457
Ending balance		¥	9,315,427		¥	9,612,470	​	$	1,435,184

​

X

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-URI https://asc.fasb.org/subtopic&trid=2196772

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X

- References

No definition available.

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