XML 41 R31.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

VARIABLE INTEREST ENTITIES

6 Months Ended

Dec. 31, 2023

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES

NOTE 23. VARIABLE INTEREST ENTITIES

VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. All VIEs and their subsidiaries with which the Company is involved must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. The primary beneficiary is required to consolidate the VIE for financial reporting purposes.

Summary information regarding consolidated VIEs and their subsidiaries is as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	June 30, 2023		​	December 31, 2023		​	December 31, 2023
​		RMB			RMB			US Dollars
ASSETS		​	​	​	​	​		​	​
Current Assets		​	​	​	​	​		​	​
Cash		¥	37,661,118	​	¥	23,902,252	​	$	3,366,562
Restricted cash	​	​	731,545	​	​	3,904	​	​	550
Short-term investments	​	​	—	​	​	18,000,000	​	​	2,535,247
Notes receivable		​	3,742,390	​	​	12,532,717	​		1,765,196
Accounts receivable, net		​	27,453,415	​	​	30,813,885	​		4,340,045
Inventories, net	​	​	6,330,701	​	​	1,855,535	​	​	261,347
Other receivables, net	​	​	11,618,275	​	​	4,155,097	​	​	585,233
Loans to third parties	​	​	37,770,188	​	​	26,841,513	​	​	3,780,548
Purchase advances, net	​	​	1,592,761	​	​	1,996,413	​	​	281,189
Contract costs, net	​	​	49,572,685	​	​	32,373,824	​	​	4,559,758
Prepaid expenses	​	​	121,329	​	​	193,859	​	​	27,303
Operating lease right-of-use assets, net - current	​	​	—	​	​	879,288	​	​	123,845
Total current assets		​	176,594,407	​	​	153,548,287	​	​	21,626,823
​	​	​	​	​	​	​	​	​	​
Property and equipment, net	​	​	24,752,864	​	​	23,492,024	​	​	3,308,782
Long-term other receivables, net	​	​	3,640	​	​	—	​	​	—
Long-term loan to third parties	​	​	—	​	​	18,500,000	​	​	2,605,671
Operating lease right-of-use assets, net - non-current	​	​	2,654,900	​	​	1,219,978	​	​	171,830
Total Assets		¥	204,005,811	​	¥	196,760,289	​	$	27,713,106
​	​	​	​	​	​	​	​	​	​
LIABILITIES		​	​	​	​	​	​		​
Short-term bank loans		¥	12,451,481	​	¥	12,336,285	​	$	1,737,529
Accounts payable	​	​	10,791,721	​	​	12,062,861	​	​	1,699,018
Other payables	​	​	3,904,135	​	​	1,340,788	​	​	188,846
Other payable- related parties	​	​	1,356,915	​	​	2,162,184	​	​	304,537
Contract liabilities	​	​	2,748,361	​	​	4,888,749	​	​	688,566
Accrued payroll and employees’ welfare	​	​	1,048,061	​	​	1,077,495	​	​	151,762
Intercompany payables*	​	​	263,935,922	​	​	259,617,001	​	​	36,566,290
Taxes payable	​	​	1,163,237	​	​	1,265,868	​	​	178,294
Short-term borrowings - related parties		​	20,018,222		​	20,019,889	​		2,819,742
Operating lease liabilities - current		​	3,066,146		​	1,038,354	​		146,248
Total current liabilities	​	​	320,484,201	​	​	315,809,474	​	​	44,480,832
​	​	​	​	​	​	​	​	​	​
Operating lease liabilities - non-current	​	​	25,144	​	​	25,869	​	​	3,644
Total Liabilities	​	¥	320,509,345	​	¥	315,835,343	​	$	44,484,476

*Intercompany payables are eliminated upon consolidation.

The financial performance of VIEs and their subsidiaries reported in the unaudited condensed consolidated interim statement of operations and comprehensive income for the six months ended December 31, 2022 includes revenues of ¥45,559,591 ($6,604,466), operating expenses of ¥11,643,918 ($1,687,940), and net income of ¥2,974,474 ($431,189). The financial performance of VIEs and their subsidiaries reported in the unaudited condensed consolidated interim statement of operations and comprehensive income for the six months ended December 31, 2023 includes revenues of ¥45,256,672 ($6,374,269), operating expenses of ¥21,646,029 ($3,048,779), and net loss of ¥6,890,440 ($970,498).

X

- References

No definition available.

+ Details

Name:	rcon_VariableInterestEntityDisclosuresAbstract
Namespace Prefix:	rcon_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//810/tableOfContent

+ Details

Name:	us-gaap_VariableInterestEntityDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration