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BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY (Tables) | 12 Months Ended
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Jun. 30, 2025
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY |
Summary of fair values of the identifiable assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | RMB |  | US Dollars
Cash |  | ¥ | 471,843 | ​ | $ | 65,867
Accounts receivable, net |  | ​ | 831,049 | ​ |  | 116,010
Other receivables, net |  | ​ | 144,285 | ​ |  | 20,141
Contract costs, net |  | ​ | 75,250 | ​ |  | 10,504
Prepaid expenses |  | ​ | 91,132 | ​ |  | 12,722
Property and equipment, net |  | ​ | 118,130 | ​ |  | 16,490
Intercompany receivables* |  | ​ | 6,850,000 | ​ |  | 956,223
Intangible assets- customer relationship |  | ​ | 7,000,000 | ​ |  | 977,162
Goodwill |  | ​ | 6,996,895 | ​ |  | 976,729
Accounts payable |  | ​ | (1,032,078) | ​ |  | (144,073)
Other payables |  | ​ | (1,273,182) | ​ |  | (177,729)
Other payable- related parties |  | ​ | (479,959) | ​ |  | (67,000)
Deferred revenue |  | ​ | (39,786) | ​ |  | (5,554)
Accrued payroll and employees’ welfare |  | ​ | (1,629,519) | ​ |  | (227,472)
Taxes payable |  | ​ | (64,253) | ​ |  | (8,969)
Deferred tax liability |  | ​ | (1,050,000) | ​ |  | (146,574)
Total | ​ | ¥ | 17,009,807 | ​ | $ | 2,374,477
Cash considerations |  | ​ | — | ​ | ​ | —
Deemed equity consideration to acquire 8% equity interest in FGS | ​ | ​ | 1,689,807 | ​ | ​ | 235,888
Fair value of previously held equity interest |  | ​ | 30,530,000 | ​ |  | 4,261,824
Non-controlling interest |  | ​ | 34,790,000 | ​ |  | 4,856,497
Capital contribution receivable due from non-controlling Interest |  | ​ | (50,000,000) | ​ |  | (6,979,731)
Total |  | ¥ | 17,009,807 | ​ | $ | 2,374,477
* | Intercompany receivables from Nanjing Recon and BHD are eliminated upon consolidation.
Summary of fair value of goodwill acquired and the carrying value, customer relationship, and its estimated useful lives | The identifiable goodwill acquired and the carrying value consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | June 30, |  | June 30,
​ | ​ | 2024 | ​ | 2025 | ​ | 2025
​ |  | RMB | ​ | RMB |  | US Dollars
Goodwill | ​ | ¥ | 6,996,895 | ​ | ¥ | 6,996,895 | ​ | $ | 976,729
Less: impairment for goodwill | ​ | ​ | (6,996,895) | ​ | ​ | (6,996,895) | ​ | ​ | (976,729)
Goodwill, net | ​ | ¥ | — | ​ | ¥ | — | ​ | $ | —
​ The fair value of identified intangible assets, which is customer relationship, and its estimated useful lives as of June 30, 2025 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ |  | Average
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Useful Life
​ | ​ | Fair Value | ​ | (in Years)
​ |  | RMB (Unaudited) |  | US Dollars (Unaudited) |  | ​
Intangible assets - customer relationship |  | ¥ | 7,000,000 | ​ | $ | 977,163 |  | 10
Less: accumulated amortization | ​ | ​ | (1,750,000) | ​ | ​ | (244,291) | ​ | ​
Less: impairment | ​ | ​ | (5,250,000) | ​ | ​ | (732,872) | ​ | ​
Intangible assets - customer relationship, net | ​ | ¥ | — | ​ | $ | — | ​ | ​

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