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INCOME TAX (Tables)

6 Months Ended

Dec. 31, 2021

INCOME TAX

Schedule of loss before provision for income taxes

​

​	​	​	​	​	​	​	​	​	​
​		For the six months ended December 31,
​	​	2020			2021			2021
​	​	RMB		​	RMB		​	U.S. Dollars
​	​	(Unaudited)		​	(Unaudited)		​	(Unaudited)
Outside China areas		¥	(6,440,586)		¥	111,262,428	​	$	17,490,192
China		​	(3,699,278)		​	224,203	​		35,244
Total		¥	(10,139,864)		¥	111,486,631	​	$	17,525,436

Schedule of deferred tax liabilities, net

Deferred tax liabilities net is composed of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			December 31,			December 31,
​	​	2021		​	2021		​	2021
​	​	​		​	RMB		​	U.S. Dollars
​	​	RMB		​	(Unaudited)		​	(Unaudited)
Deferred tax assets:	​	​	​	​	​	​	​	​	​
Allowance for credit losses		¥	2,137,968		¥	1,013,900	​	$	159,383
Impairment for inventory		​	160,791		​	5,828	​	​	916
Net operating loss carryforwards		​	15,741,037		​	14,814,023	​	​	2,328,730
Subtotal	​	​	18,039,796	​	​	15,833,751	​	​	2,489,029
Less: Valuation allowance	​	​	(17,427,464)	​	​	(15,364,613)	​	​	(2,415,282)
Total deferred tax assets	​	​	612,332	​	​	469,138	​	​	73,747
Deferred tax labilities:	​	​	​	​	​	​	​	​	​
Accelerated amortization of intangible assets	​	​	(92,032)	​	​	(105,652)	​	​	(16,608)
Gain on the previously held equity method investment	​	​	(146,888)	​	​	(146,888)	​	​	(23,090)
Recognition of customer relationship arising from business combinations	​	​	(997,500)	​	​	(945,000)	​	​	(148,552)
Total deferred tax liabilities		​	(1,236,420)		​	(1,197,540)	​	​	(188,250)
Deferred tax liabilities, net		¥	(624,088)		¥	(728,402)	​	$	(114,503)

Summary of NOL expiration

​

​	​	​	​	​	​	​
​		RMB			U.S. Dollars
Twelve months ending December 31,	​	(Unaudited)		​	(Unaudited)
2022		¥	9,281,465	​	$	1,459,025
2023		​	13,146,922	​		2,066,665
2024		​	10,484,902	​		1,648,202
2025		​	19,617,124	​		3,083,766
2026		​	32,533,742	​		5,114,228
Total		¥	85,064,155	​	$	13,371,886

Schedule of company's income tax expense

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

​

​	​	​	​	​	​	​	​	​	​
​	​	For the six months ended December 31,
​		2020			2021			2021
​		RMB			RMB			U.S. Dollars
​		(Unaudited)			(Unaudited)		​	(Unaudited)
Current income tax provision (benefit)		¥	(98,338)		¥	2,889	​	$	454
Deferred income tax provision		​	—		​	104,315	​		16,398
Expense (benefit) for income tax		¥	(98,338)		¥	107,204	​	$	16,852

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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 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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