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INCOME TAX (Tables)

12 Months Ended

Jun. 30, 2022

INCOME TAX

Schedule of loss before provision for income taxes

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​		For the years ended June 30,
​	​	2020		​	2021		​	2022		​	2022
​		RMB			RMB			RMB			U.S. Dollars
Outside China areas		¥	(10,160,525)		¥	4,011,449		¥	113,741,972	​	$	16,982,188
China		​	(9,679,757)		​	(30,402,528)		​	(20,066,451)	​		(2,996,011)
Total		¥	(19,840,282)		¥	(26,391,079)		¥	93,675,521	​	$	13,986,177

​

Schedule of deferred tax liabilities, net

Deferred tax assets and (liabilities) net is composed of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2021		​	2022		​	2022
​	​	RMB		​	RMB		​	U.S. Dollars
Deferred tax assets:	​	​	​	​	​	​	​	​	​
Allowance for credit losses		¥	2,137,968		¥	1,781,573	​	$	265,997
Impairment for inventory	​	​	160,791	​	​	59,913	​	​	8,945
Net operating loss carryforwards		​	15,741,037		​	16,511,047	​		2,465,175
Subtotal	​	​	18,039,796	​	​	18,352,533	​	​	2,740,117
Less: Valuation allowance	​	​	(17,427,464)	​	​	(17,193,874)	​	​	(2,567,124)
Total deferred tax assets	​	​	612,332	​	​	1,158,659	​	​	172,993
Deferred tax liabilities:	​	​	​	​	​	​	​	​	​
Accelerated amortization of intangible assets	​	​	(92,032)	​	​	(119,271)	​	​	(17,808)
Gain on the previously held equity method investment	​	​	(146,888)	​	​	(146,888)	​	​	(21,931)
Recognition of customer relationship arising from business combinations	​	​	(997,500)	​	​	(892,500)	​	​	(133,254)
Total deferred tax liabilities		​	(1,236,420)		​	(1,158,659)	​	​	(172,993)
Deferred tax liabilities, net		¥	(624,088)		¥	—	​	$	—

​

Summary of NOL expiration

The NOL will expire over the next five years as follows:

​

​	​	​	​	​	​	​
Twelve months ending June 30,			RMB		U.S. Dollars
2023	​	¥	13,146,922	​	$	1,962,895
2024	​		10,484,902	​		1,565,443
2025	​		19,617,124	​		2,928,925
2026	​		32,533,742	​		4,857,434
2027	​		18,769,899	​		2,802,430
Total	​	¥	94,552,589	​	$	14,117,127

Schedule of reconciliation of income tax expense

Following is a reconciliation of income tax expense (benefit) at the effective rate to income tax at the calculated statutory rates:

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	For the years ended June 30,
​		2020			2021			2022			2022
​	​	RMB		​	RMB		​	RMB		​	U.S. Dollars
Income tax (benefits) expenses calculated at PRC statutory rates		¥	(4,960,454)		¥	(6,597,770)		¥	23,418,880	​	$	3,496,544
Nondeductible expenses and others		​	232,213		​	338,058		​	263,655	​		39,365
Effect of tax rate differential		​	2,008,824		​	626,245		​	(24,061,020)	​		(3,592,418)
Benefit of revenue exempted from enterprise income tax		​	(266,548)		​	(57,250)		​	(1,799)	​		(269)
Change in valuation allowances		​	3,268,287		​	5,264,804		​	(233,590)	​		(34,876)
Tax refund		​	—		​	(98,338)		​	—	​		—
Income tax expenses (benefit)		¥	282,322		¥	(524,251)		¥	(613,874)	​	$	(91,654)

Schedule of company's income tax expense

The Company’s income tax expense (benefit) is comprised of the following:

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	For the years ended June 30,
​		2020			2021			2022			2022
​		RMB			RMB			RMB			U.S. Dollars
Current income tax provision (benefit)		¥	282,322		¥	(98,338)		¥	10,214	​	$	1,525
Deferred income tax benefit		​	—		​	(425,913)		​	(624,088)	​		(93,179)
Income tax expenses (benefit)		¥	282,322		¥	(524,251)		¥	(613,874)	​	$	(91,654)

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

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