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PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jun. 30, 2022

PROPERTY AND EQUIPMENT, NET.

PROPERTY AND EQUIPMENT, NET

NOTE 9. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2021		​	2022		​	2022
​	​	RMB		​	RMB		​	U.S. Dollars
Motor vehicles		¥	5,097,921		¥	5,312,274	​	$	793,146
Office equipment and fixtures		​	1,385,084		​	1,442,395	​		215,356
Production equipment		​	30,559,275		​	31,102,055	​		4,643,677
Total property and equipment		​	37,042,280		​	37,856,724	​		5,652,179
Less: accumulated depreciation		​	(9,135,200)		​	(11,614,250)	​		(1,734,060)
Less: Impairment for property and equipment		​	(768,312)		​	(768,312)	​	​	(114,712)
Property and equipment, net	​	¥	27,138,768	​	¥	25,474,162	​	$	3,803,407
Construction in progress		¥	—		¥	239,739	​	$	35,794

​

Depreciation expenses were ¥1,582,461, ¥2,773,122 and ¥2,611,854 ($389,961) for the years ended June 30, 2020, 2021 and 2022, respectively.

Impairment loss for the property and equipment was ¥nil, ¥768,312 and ¥nil for the years ended June 30, 2020, 2021 and 2022. As one of the Company’s properties and equipment were not able to generate enough future cashflow. Thus the Company decided to record full impairment of those properties and equipment during the year ended June 30, 2021.

Gain from property and equipment disposal was ¥89,156 for the year ended June 30, 2020. Loss from property and equipment disposal was ¥19,590 and ¥48,628 ($7,260) for the years ended June 30, 2021 and 2022, respectively.

X

- References

No definition available.

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X

- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI https://asc.fasb.org/topic&trid=2155823

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916

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