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SHORT-TERM BORROWINGS (Tables)

6 Months Ended

Dec. 31, 2021

Short-term Debt [Line Items]

Schedule of short-term borrowings

​

​	​	​	​	​	​	​	​	​	​
​	​	June 30,		​	December 31,		​	December 31,
​	​	2021		​	2021		​	2021
​		​			RMB			U.S. Dollars
Short-term borrowings due to third parties:	​	RMB		​	(Unaudited)		​	(Unaudited)
Short-term borrowing, 15% annual interest, due on September 23, 2021*	​	¥	230,000	​	¥	—	​	$	—
Short-term borrowing, interest-free, due on May 12, 2022*	​	​	200,000	​	​	—	​	​	—
Short-term borrowing, interest-free, due on June 21, 2022*	​	​	100,000	​	​	—	​	​	—
Short-term borrowing, interest-free, due on September 19, 2022	​	​	—	​	​	260,000	​	​	40,871
Total short-term borrowings due to third parties	​	¥	530,000	​	¥	260,000	​	$	40,871

​

*    The Company repaid the loans in full.

Related Party

Short-term Debt [Line Items]

Schedule of short-term borrowings

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			December 31,			December 31,
​	​	2021		​	2021		​	2021
​	​	​	​	​	RMB		​	U.S. Dollars
Short-term borrowings due to related parties:	​	RMB		​	(Unaudited)		​	(Unaudited)
Short-term borrowing from a Founder, 4.35% annual interest, due on December 21, 2021*		¥	5,006,042		¥	—	​	$	—
Short-term borrowing from a Founder, 4.35% annual interest, due on March 25, 2022	​	​	4,000,000	​	​	4,000,000	​	​	628,790
Short-term borrowing from a Founder's family member, 0% annual interest, due on December 31, 2021*	​	​	670,000	​	​	—	​	​	—
Short-term borrowing from a Founder's family member, 0% annual interest, due on March 24, 2022	​	​	3,000,000	​	​	147,500	​	​	23,187
Short-term borrowing from a Founder, 4.30% annual interest, due on December 26, 2022	​	​	—	​	​	5,001,792	​	​	786,270
Total short-term borrowings due to related parties		¥	12,676,042		¥	9,149,292	​	$	1,438,247

​

*    The Company repaid the loans in full on maturity date.

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

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