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PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jun. 30, 2023

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

NOTE 8. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2022		​	2023		​	2023
​	​	RMB		​	RMB		​	US Dollars
Motor vehicles		¥	5,312,274		¥	5,176,175	​	$	713,827
Office equipment and fixtures		​	1,442,395		​	1,440,819	​		198,698
Production equipment		​	31,102,055		​	31,115,843	​		4,291,071
Leasehold improvement	​	​	—	​	​	2,260,000	​	​	311,668
Total cost		​	37,856,724		​	39,992,837	​		5,515,264
Less: accumulated depreciation		​	(11,614,250)		​	(14,297,511)	​		(1,971,717)
Less: accumulated impairment		​	(768,312)		​	(942,462)	​	​	(129,971)
Property and equipment, net	​	¥	25,474,162	​	¥	24,752,864	​	$	3,413,576
Construction in progress		¥	239,739		¥	—	​	$	—

​

Construction in progress pertains to infrastructure built for the Company’s oily sludge treatment projects.

Depreciation expenses were ¥2,773,122, ¥2,611,854 and ¥2,983,586 ($411,456) for the years ended June 30, 2021, 2022 and 2023, respectively.

Impairment loss for the property and equipment was ¥768,312, ¥nil and ¥174,150 ($24,017) for the years ended June 30, 2021, 2022 and 2023, respectively. As the Company’s certain properties and equipment were not able to generate enough future cashflow. Thus the Company decided to record full impairment of those properties and equipment.

Loss from property and equipment disposal was ¥19,590 and ¥48,628 for the years ended June 30, 2021 and 2022, respectively. Income from property and equipment disposal was ¥12,782 ($1,763) for the year ended June 30, 2023.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Topic 958
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480321/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480321/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480321/958-360-50-7

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