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COMMITMENTS AND CONTINGENCY (Tables)

6 Months Ended

Dec. 31, 2021

COMMITMENTS AND CONTINGENCY

Schedule of total future minimum purchase commitment

The total future minimum purchase commitment under the non-cancellable purchase contracts as of December 31, 2021 are payable as follows:

​	​	​	​	​	​	​
​	​	Minimum purchase
Twelve months ending December 31,	​	commitment
2022		¥	15,337,798		$	2,411,066
2023	​	​	300,000	​	​	47,159
2024	​	​	300,000	​	​	47,159
2025	​	​	300,000	​	​	47,159
Thereafter		​	—	​		—
Total minimum payments required		¥	16,237,798	​	$	2,552,543

Schedule of Non - cancellable operating lease agreements

The Company entered into several non-cancellable operating lease agreements for office spaces and factories. Future payments under such leases were included in lease liabilities as disclosed in Note 11, other than those within under lease agreements within one year which are disclosed as follows as of December 31, 2021:

​

​	​	​	​	​	​	​
​		RMB			U.S. Dollars
Twelve months ending June 30,	​	(Unaudited)		​	(Unaudited)
2022		¥	132,850	​	$	20,884
Total		¥	132,850	​	$	20,884

X

- Definition

Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation.

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Tabular disclosure of arrangements in which the entity has agreed to procure goods or services from one or more suppliers. May include identification of the goods or services to be purchased, identity of the seller, pricing, effects on pricing for failing to reach minimum quantities required to be purchased (such as penalties), cancellation rights, and termination provisions.

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