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CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
6 Months Ended
Dec. 31, 2021
CNY (¥)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities:      
Net income (loss) ¥ 111,379,427 $ 17,508,584 ¥ (10,041,526)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 1,682,450 264,477 1,369,590
Loss from disposal of equipment 35,279 5,546 1,095
Changes in warrants liabilities (147,168,952) (23,134,614) 0
Net recovery of credit losses (5,671,285) (891,513) (3,697,024)
Provision for slow moving inventories 38,856 6,108 423,714
Amortization of right of use assets 1,556,830 244,730 542,896
Restricted shares issued for management and employees 27,375,871 4,303,423 3,403,513
Loss (income) from investment in unconsolidated entity (15,411) (2,423) 251,296
Deferred tax expense 104,315 16,398 0
Interest expenses related to convertible notes 0 0 84,607
Interest income from loans to third parties (2,101,366) (330,330) 0
Restricted shares issued for services 4,631,063 727,992 0
Changes in operating assets and liabilities:      
Notes receivable (8,502,433) (1,336,563) (3,609,112)
Trade accounts receivable (12,364,696) (1,943,701) 15,866,295
Trade accounts receivable-related party 0 0 3,409,912
Inventories (1,314,367) (206,615) (765,595)
Other receivable (1,495,225) (235,046) (4,262,681)
Other receivables-related parties (23,800) (3,741) (23,800)
Purchase advance 543,832 85,489 96,330
Contract costs 20,068,844 3,154,775 (14,262,839)
Prepaid expense 116,153 18,259 (19,306)
Prepaid expense - related parties 433,000 68,067 217,600
Operating lease liabilities (526,878) (82,824) (539,572)
Trade accounts payable 102,178 16,062 (3,761,301)
Other payables (7,569,400) (1,189,891) (1,048,961)
Other payables-related parties 1,169,121 183,783 (2,842,651)
Contract liabilities (6,490,414) (1,020,278) 3,200,559
Accrued payroll and employees' welfare (122,226) (19,213) (963,905)
Taxes payable 1,088,901 171,173 273,624
Net cash used in operating activities (23,040,333) (3,621,886) (16,697,242)
Cash flows from investing activities:      
Purchases of property and equipment (337,171) (53,002) (375,569)
Repayments from loans to third parties 113,146,100 17,786,302 3,200,377
Payments made for loans to third parties (86,031,987) (13,524,027) (950,000)
Net cash provided by investing activities 26,776,942 4,209,273 1,874,808
Cash flows from financing activities:      
Proceeds from short-term bank loans 0 0 3,520,000
Repayments of short-term bank loans (5,000,000) (785,988) (1,020,000)
Proceeds from short-term borrowings 260,000 40,871 2,460,000
Repayments of short-term borrowings (530,000) (83,315) (2,460,000)
Proceeds from short-term borrowings-related parties 5,000,000 785,988 10,100,000
Repayments of short-term borrowings-related parties (8,522,500) (1,339,717) (8,320,000)
Repayments of long-term borrowings-related party (436,457) (68,610) (399,422)
Proceeds from sale of ordinary shares, net of issuance costs 0 0 9,930,015
Proceeds from issuance of convertible notes 0 0 42,364,203
Capital contribution by non-controlling shareholders 0 0 50,000
Net cash provided by (used in) financing activities (9,228,957) (1,450,771) 56,224,796
Effect of exchange rate fluctuation on cash (5,642,145) (886,932) (931,369)
Net increase (decrease) in cash (11,134,493) (1,750,316) 40,470,993
Cash at beginning of period 343,998,570 54,075,769 30,336,504
Cash at end of period 332,864,077 52,325,453 70,807,497
Supplemental cash flow information      
Cash paid during the period for interest 732,842 115,201 849,409
Cash received during the period for taxes 2,889 454 (98,338)
Non-cash investing and financing activities      
Cancellation of ordinary shares issued 27,675,450 4,350,516 0
Right-of-use assets obtained in exchange for operating lease obligations 0 0 63,530
Inventories used as fixed assets 0 0 302,795
Receivable for disposal of property and equipment ¥ 3,000 $ 472 ¥ 0