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v3.22.1

OTHER RECEIVABLES, NET (Tables) | 6 Months Ended
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Dec. 31, 2021
OTHER RECEIVABLES, NET |
Schedule of Other receivables, net | Other receivables, net consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |  | December 31,
​ | ​ | 2021 | ​ | 2021 | ​ | 2021
​ | ​ | ​ | ​ | RMB | ​ | U.S. Dollars
Third Party |  | RMB |  | (Unaudited) |  | (Unaudited)
Business advances to officers and staffs (A) |  | ¥ | 957,277 |  | ¥ | 1,633,123 |  | $ | 256,723
Deposits for projects |  | ​ | 1,982,987 |  | ​ | 2,036,195 |  | ​ | 320,085
VAT recoverable |  | ​ | 3,562,295 |  | ​ | 3,277,675 |  | ​ | 515,243
Others |  | ​ | 1,469,949 |  | ​ | 2,543,476 |  | ​ | 399,828
​ | ​ | ​ | 7,972,508 | ​ | ​ | 9,490,469 | ​ | ​ | 1,491,879
Less: Long term portion (B) | ​ | ​ | (114,679) | ​ | ​ | (324,515) | ​ | ​ | (51,013)
Allowance for credit losses |  | ​ | (918,153) |  | ​ | (569,138) |  | ​ | (89,467)
Other receivable - current portion |  | ¥ | 6,939,676 | ​ | ¥ | 8,596,816 | ​ | $ | 1,351,399
​
(A) | Business advances to officers and staffs represent advances for business travel and sundry expenses related to oilfield or on-site installation and inspection of products through customer approval and acceptance.
(B) | Long-term portion are mainly tender deposits for large-scale projects or rental contracts. These funds may not be collected back until projects are finished or contracts are completed.
Schedule of Movement of allowance for doubtful accounts | Movement of allowance for credit losses is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |  | December 31,
​ | ​ | 2021 | ​ | 2021 | ​ | 2021
​ | ​ | ​ | ​ | RMB | ​ | U.S. Dollars
​ | ​ | RMB | ​ | (Unaudited) | ​ | (Unaudited)
Beginning balance |  | ¥ | 1,529,036 |  | ¥ | 918,153 | ​ | $ | 144,331
Balance acquired from FGS |  | ​ | 151,689 |  | ​ | — | ​ |  | —
Reversal of credit losses | ​ | ​ | (187,161) | ​ | ​ | (344,950) | ​ | ​ | (54,225)
Less: write-off |  | ​ | (575,411) |  | ​ | (4,065) | ​ |  | (639)
Ending balance |  | ¥ | 918,153 |  | ¥ | 569,138 | ​ | $ | 89,467

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