XML 174 R8.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Jun. 30, 2023
CNY (¥)
Jun. 30, 2023
USD ($)
Jun. 30, 2022
CNY (¥)
Jun. 30, 2021
CNY (¥)
Cash flows from operating activities:        
Net income (loss) ¥ (61,476,392) $ (8,477,982) ¥ 94,289,395 ¥ (25,866,828)
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Depreciation and amortization 3,683,586 507,990 3,339,868 3,150,789
Loss (gain) from disposal of equipment (12,782) (1,763) 48,628 19,590
Gain in fair value changes of warrants liability (6,116,000) (843,435) (174,485,575) (35,365,792)
Amortization of offering cost of warrants 1,483,306 204,557 0 12,584,024
Allowance for (net recovery of) credit losses (9,038,985) (1,246,533) (658,823) 8,191,247
Allowance for slow moving inventories 484,644 66,835 266,285 654,673
Impairment loss of property and equipment and other long-lived assets 1,009,124 139,165 0 768,312
Impairment loss on goodwill and intangible assets 9,980,002 1,376,305 2,266,893 0
Amortization of right of use assets 3,252,066 448,480 3,138,518 1,866,803
Restricted shares issued for management and employees 26,191,707 3,612,002 39,263,485 6,140,037
Restricted shares issued for services 5,805,840 800,662 8,935,919 0
Remeasurement gain of previously held equity interests in connection with step acquisition     0 (979,254)
Loss (income) from investment in unconsolidated entity 0 0 (15,411) 266,707
Deferred tax benefit     (624,087) (425,913)
Interest expenses related to convertible notes     0 430,416
Accrued interest income from loans to third parties (7,997,961) (1,102,969) (270,563) 0
Accrued interest income from short-term investment (2,901,955) (400,198) 0 0
Changes in operating assets and liabilities:        
Notes receivable 7,085,917 977,193 (4,522,674) (2,124,748)
Accounts receivable (495,784) (68,372) 3,811,866 18,326,410
Accounts receivable-related party     0 3,409,912
Inventories (2,373,013) (327,253) (689,291) (2,502,263)
Other receivables (1,307,694) (180,339) 285,786 (338,468)
Other receivables-related parties (64,122) (8,843) 0 0
Purchase advances (2,575,198) (355,136) 865,430 (899,371)
Contract costs (14,236,539) (1,963,309) 15,422,513 (21,944,876)
Prepaid expense 70,164 9,676 (274,215) 143,354
Prepaid expense - related parties 275,000 37,924 158,000 (433,000)
Operating lease liabilities (3,061,303) (422,173) (1,594,702) (2,762,949)
Accounts payable (1,710,898) (235,944) (5,523,938) (2,109,944)
Other payables 2,270,104 313,062 (6,329,042) 5,685,188
Other payables-related parties 352,260 48,579 969,468 (2,577,610)
Contract liabilities 641,087 88,410 (5,578,999) 4,160,456
Accrued payroll and employees' welfare 131,971 18,200 296,065 (1,593,822)
Taxes payable (1,036,483) (142,938) 961,964 76,452
Net cash used in operating activities (51,688,331) (7,128,147) (26,247,237) (34,050,468)
Cash flows from investing activities:        
Purchases of property and equipment (940,673) (129,725) (692,206) (522,416)
Proceeds from disposal of equipment 31,950 4,406 0 0
Repayments of loans to third parties 40,113,311 5,531,879 171,435,032 5,150,377
Payments made for loans to third parties (103,146,761) (14,224,589) (171,071,510) (51,638,458)
Payments for short-term investments (290,051,964) (39,999,995) 0 0
Redemption of short-term investments 108,769,464 14,999,995 0 0
Step acquisition of FGS, net of cash     0 471,843
Net cash used in investing activities (245,224,673) (33,818,029) (328,684) (46,538,654)
Cash flows from financing activities:        
Proceeds from short-term bank loans 13,491,481 1,860,560 10,000,000 16,020,000
Repayments of short-term bank loans (11,040,000) (1,522,486) (15,000,000) (10,540,000)
Proceeds from short-term borrowings     0 3,660,000
Repayments of short-term borrowings     (530,000) (3,360,000)
Proceeds from short-term borrowings-related parties 15,013,115 2,070,403 11,100,000 18,400,000
Repayments of short-term borrowings-related parties (9,000,000) (1,241,157) (14,770,000) (15,950,000)
Proceeds from long-term borrowings-related party     0 0
Repayments of long-term borrowings-related party (1,499,667) (206,813) (892,701) (816,952)
Proceeds from warrants issued with common stock 17,493,069 2,412,405 0 212,051,414
Proceeds from sale of ordinary shares, net of issuance costs 28,174,993 3,885,509 0 81,091,141
Proceeds from sale of prefunded warrants, net of issuance costs 3,750,282 517,188 93,321 30,276,569
Proceeds from stock issuance for warrants exercised     0 21,130,035
Proceeds from issuance of convertible notes     0 42,014,616
Capital contribution by non-controlling shareholders 0 0 0 50,000
Net cash provided by (used in) financing activities 56,383,273 7,775,609 (9,999,380) 394,026,823
Effect of exchange rate fluctuation on cash and restricted cash 27,688,659 3,818,441 10,275,148 224,365
Net increase (decrease) in cash and restricted cash (212,841,072) (29,352,126) (26,300,153) 313,662,066
Cash and restricted cash at beginning of year 317,698,417 43,812,615 343,998,570 30,336,504
Cash and restricted cash at end of year 104,857,345 14,460,489 317,698,417 343,998,570
Supplemental cash flow information        
Cash paid during the year for interest 1,200,699 165,584 1,427,174 1,682,863
Cash paid during the year for taxes 18,339 2,529 10,214 (98,338)
Reconciliation of cash and restricted cash, beginning of year        
Cash 316,974,857 43,712,832 343,998,570 30,336,504
Restricted cash 723,560 99,783 0 0
Cash and restricted cash at beginning of year 317,698,417 43,812,615 343,998,570 30,336,504
Cash 104,125,800 14,359,604 316,974,857 343,998,570
Restricted cash 731,545 100,885 723,560 0
Cash and restricted cash at end of year 104,857,345 14,460,489 317,698,417 343,998,570
Non-cash investing and financing activities        
Issuance of common stock in exchange of shares of FGS, net of issuance costs     0 1,689,807
Cancellation of common stock issued prior years in exchange of shares of FGS , net of issuance costs     0 (1,689,807)
Issuance of common stock in exchange of shares of Starry, net of issuance costs     0 27,675,450
Cancellation of shares issued to Starry Lab     (27,675,450) 0
Conversion of convertible notes to 9,225,338 shares of ordinary shares     0 42,435,669
Right-of-use assets obtained in exchange for operating lease obligations 75,182 10,368 937,672 7,242,819
Reduction of right-of-use assets and operating lease obligations due to early termination of lease agreement 62,357 8,599 0 0
Inventories transferred to and used as fixed assets ¥ (65,456) $ (9,027) 0 302,795
Receivable for disposal of property and equipment     3,000 0
Capital contribution receivable due from non-controlling Interest     0 50,000,000
Other payable due to non-controlling interest converted into capital contribution     ¥ 1,130,000 ¥ 0