XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
 6 Months Ended 12 Months Ended
Dec. 31, 2023
CNY (¥)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
CNY (¥)
Jun. 30, 2023
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (23,107,851) $ (3,254,673) ¥ (29,872,691)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 1,426,971 200,985 1,952,625  
Loss (gain) from disposal of equipment 32,252 4,543 (12,782)  
Gain in fair value changes of warrants liability 10,461,075 1,473,412 20,097,665  
Allowance for (net recovery of) credit losses 1,553,364 218,787 (7,141,708)  
Allowance for slow moving inventories (350,637) (49,386) 245,990  
Amortization of right of use assets 570,959 80,418 1,627,888  
Restricted shares issued for management and employees 2,866,560 403,747 1,796,417  
Restricted shares issued for services 1,070,143 150,726 4,304,857  
Accrued interest income from loans to third parties (4,415,298) (621,882) (3,757,041)  
Accrued interest income from short-term investment (2,352,250) (331,307) 0  
Changes in operating assets and liabilities:        
Notes receivable (8,790,327) (1,238,092) 2,356,367  
Accounts receivable (4,412,034) (621,422) (12,501,742)  
Inventories 4,863,435 685,000 (1,158,138)  
Other receivables 5,465,227 769,761 (9,673,906)  
Purchase advances 558,040 78,598 (449,477)  
Contract costs 10,442,916 1,470,854 9,765,091  
Prepaid expense 54,734 7,709 10,345  
Prepaid expense - related parties 0 0 275,000  
Operating lease liabilities (2,027,067) (285,506) (1,619,168)  
Accounts payable 1,271,140 179,036 247,387  
Other payables (4,103,150) (577,918) (1,414,691)  
Other payables-related parties (383,378) (53,998) 231,133  
Contract liabilities 2,140,385 301,467 (1,945,877)  
Accrued payroll and employees' welfare 17,399 2,451 27,710  
Taxes payable 537,591 75,718 677,510  
Net cash used in operating activities (6,609,801) (930,972) (25,931,236)  
Cash flows from investing activities:        
Purchases of property and equipment (216,082) (30,435) (821,272)  
Proceeds from disposal of equipment 20,000 2,817 31,950  
Purchase of land use right (15,000,251) (2,112,741) 0  
Repayments of loans to third parties 44,613,948 6,283,743 25,194,900  
Payments made for loans to third parties (16,600,000) (2,338,061) (58,488,100)  
Payments for short-term investments (131,598,400) (18,535,247) 0  
Redemption of short-term investments 180,338,865 25,400,198 0  
Net cash (used in) generated by investing activities 61,558,080 8,670,274 (34,082,522)  
Cash flows from financing activities:        
Proceeds from short-term bank loans 0 0 1,000,000  
Repayments of short-term bank loans (123,000) (17,324) 0  
Proceeds from short-term borrowings-related parties 10,000,000 1,408,471 10,000,000  
Repayments of short-term borrowings-related parties (10,018,222) (1,411,037) (9,000,000)  
Repayments of long-term borrowings-related party 0 0 (476,927)  
Redemption of warrants (31,866,604) (4,488,317) 0  
Net cash provided by (used in) financing activities (32,007,826) (4,508,207) 1,523,073  
Effect of exchange rate fluctuation on cash and restricted cash (5,945,117) (837,352) 10,633,748  
Net increase (decrease) in cash and restricted cash 16,995,336 2,393,743 (47,856,937)  
Cash and restricted cash, beginning of year 104,857,345 14,768,848 317,698,417 ¥ 317,698,417
Cash and restricted cash, end of year 121,852,681 17,162,591 269,841,480 104,857,345
Supplemental cash flow information        
Cash paid during the year for interest 468,440 64,601 624,321  
Cash paid during the year for taxes 16,505 2,276 9,180  
Reconciliation of cash and restricted cash, beginning of year        
Cash 104,125,800 14,665,812 316,974,857 316,974,857
Restricted cash 731,545 103,036 723,560 723,560
Cash and restricted cash, beginning of year 104,857,345 14,768,848 317,698,417 317,698,417
Cash 121,848,777 17,162,041 269,111,420 104,125,800
Restricted cash 3,904 550 730,060 731,545
Cash and restricted cash, end of year 121,852,681 17,162,591 269,841,480 ¥ 104,857,345
Non-cash investing and financing activities        
Right-of-use assets obtained in exchange for operating lease obligations 298,783 41,204 0  
Reduction of right-of-use assets and operating lease obligations due to early termination of lease agreement 0 0 43,881  
Inventories transferred to and used as fixed assets ¥ 0 $ 0 ¥ (65,456)