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CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables) | 6 Months Ended
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Dec. 31, 2021
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY |
Schedule of parent company balance sheets (unaudited) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |  | December 31,
​ | ​ | 2021 | ​ | 2021 | ​ | 2021
​ | ​ | ​ | ​ | RMB | ​ | U.S. Dollars
​ |  | RMB |  | (Unaudited) |  | (Unaudited)
ASSETS |  | ​ |  |  | ​ |  |  | ​ |
Cash |  | ¥ | 325,116,815 |  | ¥ | 287,893,737 | ​ | $ | 45,256,221
Due from subsidiaries, VIEs and VIEs’ subsidiaries* |  | ​ | 148,497,648 |  | ​ | 195,310,788 | ​ |  | 30,702,397
Other current assets |  | ​ | 52,136,194 |  | ​ | 25,824,404 | ​ |  | 4,059,537
Total Current Assets |  | ​ | 525,750,657 |  | ​ | 509,028,929 | ​ |  | 80,018,156
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-current assets |  | ​ |  |  | ​ |  | ​ |  |
Investment in subsidiaries and VIEs |  | ​ | (55,308,418) |  | ​ | (55,225,497) | ​ |  | (8,681,319)
Investment in unconsolidated entity |  | ​ | 27,931,795 |  | ​ | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets |  | ¥ | 498,374,034 |  | ¥ | 453,803,432 | ​ | $ | 71,336,837
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND SHAREHOLDERS’ EQUITY |  | ​ |  |  | ​ |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities |  | ¥ | 12,643,150 |  | ¥ | 5,416,579 | ​ | $ | 851,474
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Warrant liability |  | ​ | 190,635,850 |  | ​ | 42,239,816 | ​ |  | 6,640,000
LIABILITIES |  | ​ | 203,279,000 |  | ​ | 47,656,395 | ​ |  | 7,491,474
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
COMMITMENTS AND CONTINGENCIES |  | ​ |  |  | ​ |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
SHAREHOLDERS’ EQUITY |  | ​ |  |  | ​ |  | ​ |  |
Class A ordinary shares, $0.0925 U.S. dollar par value, 150,000,000 shares authorized; 26,868,391 shares and 27,180,718 shares issued and outstanding as of June 30, 2021 and December 31, 2021, respectively |  | ​ | 16,340,826 |  | ​ | 16,524,894 | ​ |  | 2,597,675
Class B ordinary shares, $0.0925 U.S. dollar par value, 20,000,000 shares authorized; nil shares and 2,500,000 shares issued and outstanding as of June 30, 2021 and December 31, 2021, respectively |  | ​ | — |  | ​ | 1,474,543 | ​ |  | 231,795
Additional paid-in capital |  | ​ | 479,490,763 |  | ​ | 482,163,636 | ​ |  | 75,794,994
Accumulated deficit |  | ​ | (202,711,391) |  | ​ | (91,353,881) | ​ |  | (14,360,616)
Accumulated other comprehensive income (loss) |  | ​ | 1,974,836 |  | ​ | (2,662,155) | ​ |  | (418,485)
Total shareholders’ equity |  | ​ | 295,095,034 |  | ​ | 406,147,037 | ​ |  | 63,845,363
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities and shareholders’ equity |  | ¥ | 498,374,034 |  | ¥ | 453,803,432 | ​ | $ | 71,336,837
​ * Due from subsidiaries, VIEs and VIEs’ subsidiaries are eliminated upon consolidation. ​
Schedule of parent company statements of operations and comprehensive loss (unaudited) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the six months ended December 31,
​ | ​ | 2020 | ​ | 2021 | ​ | 2021
​ | ​ | RMB | ​ | RMB | ​ | U.S. Dollars
​ |  | (Unaudited) |  | (Unaudited) |  | (Unaudited)
Revenues |  | ¥ | 123,918 |  | ¥ | — | ​ | $ | —
Cost of revenues |  | ​ | 99,202 |  | ​ | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross profit |  | ​ | 24,716 |  | ​ | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
General and administrative expenses |  | ​ | 6,058,542 |  | ​ | 36,567,864 | ​ |  | 5,748,383
Provision for credit losses |  | ​ | — |  | ​ | 1,916,515 | ​ |  | 301,272
Loss from operations |  | ​ | (6,033,826) |  | ​ | (38,484,379) | ​ |  | (6,049,655)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value changes of warrants liability |  | ​ | — |  | ​ | 147,168,952 | ​ |  | 23,134,614
Other income (loss) |  | ​ | (148,421) |  | ​ | 2,584,170 | ​ |  | 406,225
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in income (loss) of subsidiaries, vies and vies' subsidiaries |  | ​ | (2,753,404) |  | ​ | 88,767 | ​ |  | 13,954
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) |  | ¥ | (8,935,651) |  | ¥ | 111,357,510 | ​ | $ | 17,505,140
Foreign currency translation adjustments |  | ​ | (931,366) |  | ​ | (4,631,145) | ​ |  | (728,005)
Foreign currency translation adjustments related to investments in subsidiaries, VIEs and VIEs' subsidiaries |  | ​ | (4,113) |  | ​ | (5,846) | ​ |  | (919)
Comprehensive income (loss) attributable to the company |  | ¥ | (9,867,017) |  | ¥ | 106,720,519 | ​ | $ | 16,776,216
Schedule of parent company statements of cash flows (unaudited) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the six months ended December 31,
​ | ​ | 2020 | ​ | 2021 | ​ | 2021
​ | ​ | RMB | ​ | RMB | ​ | U.S. Dollars
​ |  | (Unaudited) |  | (Unaudited) |  | (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES: |  | ​ |  |  | ​ |  |  | ​ |
Net income (loss) |  | ¥ | (8,935,651) |  | ¥ | 111,357,510 | ​ | $ | 17,505,140
Adjustments to reconcile net cash flows from operating activities: |  | ​ |  |  | ​ |  | ​ |  |
Changes in warrants liabilities |  | ​ | — |  | ​ | (147,168,952) | ​ |  | (23,134,614)
Provision for doubtful accounts |  | ​ | — |  | ​ | 1,916,515 | ​ |  | 301,272
Restricted shares issued for management and employees |  | ​ | 3,403,513 |  | ​ | 27,375,871 | ​ |  | 4,303,423
Income from investment in unconsolidated entity |  | ​ | — |  | ​ | (15,411) | ​ |  | (2,423)
Restricted shares issued for services |  | ​ | — |  | ​ | 4,631,063 | ​ |  | 727,992
Interest expenses related to convertible notes |  | ​ | 84,607 |  | ​ | — | ​ |  | —
Equity in earnings of subsidiaries and VIEs |  | ​ | 2,753,404 |  | ​ | (88,767) | ​ |  | (13,954)
Other current assets |  | ​ | 551,826 |  | ​ | (2,448,550) | ​ |  | (384,906)
Other current liabilities |  | ​ | (1,890,271) |  | ​ | (7,226,571) | ​ |  | (1,136,001)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash used in operating activities |  | ​ | (4,032,572) |  | ​ | (11,667,292) | ​ |  | (1,834,071)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from investing activities: |  | ​ |  |  | ​ |  | ​ |  |
Repayments from loans to third parties |  | ​ | — |  | ​ | 111,796,100 | ​ |  | 17,574,085
Payments made for loans to third parties |  | ​ | — |  | ​ | (85,851,987) | ​ |  | (13,495,731)
Proceeds from sale of ordinary shares, net of issuance costs |  | ​ | 9,930,015 |  | ​ | — | ​ |  | —
Proceeds from issuance of convertible notes |  | ​ | 42,364,203 |  | ​ | — | ​ |  | —
Due from intercompany, VIEs and VIEs’ subsidiaries |  | ​ | (10,431,998) |  | ​ | (45,913,426) | ​ |  | (7,217,483)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash provided by (used in) investing activities |  | ​ | 41,862,220 |  | ​ | (19,969,313) | ​ |  | (3,139,129)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effect of exchange rate fluctuation on cash |  | ​ | (927,258) |  | ​ | (5,586,473) | ​ |  | (878,180)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase (decrease) in cash |  | ​ | 36,902,390 |  | ​ | (37,223,078) | ​ |  | (5,851,381)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH, beginning of period |  | ​ | 22,238,980 |  | ​ | 325,116,815 | ​ |  | 51,107,601
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH, end of period |  | ¥ | 59,141,370 |  | ¥ | 287,893,737 | ​ | $ | 45,256,221
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-cash investing and financing activities |  | ​ |  |  | ​ |  | ​ |  |
Cancellation of shares issued |  | ¥ | — |  | ¥ | 27,675,450 | ​ | $ | 4,350,516

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