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ACCOUNTS RECEIVABLE, NET

12 Months Ended

Jun. 30, 2023

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET

NOTE 3. ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consisted of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2022		​	2023		​	2023
Third Parties	​	RMB		​	RMB		​	US Dollars
Accounts receivable		¥	27,206,752		¥	27,606,257	​	$	3,807,077
Allowance for credit losses		​	(4,628,772)		​	(152,842)	​		(21,078)
Total third-parties, net		¥	22,577,980		¥	27,453,415	​	$	3,785,999

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2022		​	2023		​	2023
Third Parties- long-term	​	RMB		​	RMB		​	US Dollars
Accounts receivable	​	¥	4,983,698	​	¥	842,607	​	$	116,201
Allowance for credit losses	​		(4,983,698)	​		(842,607)	​		(116,201)
Total third-parties, net	​	¥	—	​	¥	—	​	$	—

​

Provision for credit losses of accounts receivable due from third parties was ¥3,730,606 and ¥153,329 for the years ended June 30, 2021 and 2022, respectively. Net recovery of provision for credit losses of accounts receivable due from third parties was ¥8,767,356 ($1,209,073) for the year ended June 30, 2023.

The decrease in allowance for credit losses of accounts receivable due from third parties was mainly resulted by the management’s efforts in collection receivables from our customers, and as the date of this report, approximately 54.7%, or ¥15.0 million ($2.1 million) of net outstanding balance as of June 30, 2023 has been collected as of the date of the report.

Movement of allowance for doubtful accounts is as follows:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2022		​	2023		​	2023
​	​	RMB		​	RMB		​	US Dollars
Beginning balance		¥	9,315,427		¥	9,612,470	​	$	1,325,619
Charge to (reversal of) allowance		​	153,329		​	(8,767,356)	​		(1,209,073)
Foreign currency translation adjustments	​	​	143,714	​	​	150,335	​	​	20,733
Ending balance		¥	9,612,470		¥	995,449	​	$	137,279

​

X

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//310-10/tableOfContent

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X

- References

No definition available.

+ Details

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