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LONG-TERM BORROWINGS DUE TO RELATED PARTIES

12 Months Ended

Jun. 30, 2025

LONG-TERM BORROWINGS DUE TO RELATED PARTIES

LONG-TERM BORROWINGS DUE TO RELATED PARTIES

NOTE 18. LONG-TERM BORROWINGS DUE TO RELATED PARTIES

Long-term borrowings due to related parties consisted of the following:

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​	​	​	​	​	​	​	​	​	​
​		June 30,			June 30,			June 30,
​	​	2024		​	2025		​	2025
Long-term borrowings due to related parties:	​	RMB		​	RMB		​	US Dollars
Long-term borrowing from a Founder, 3.75% annual interest, three years loan, due on April 29, 2027		¥	10,000,000	​	¥	10,000,000	​	$	1,395,946
Total long-term borrowings due to related parties		¥	10,000,000	​	¥	10,000,000	​	$	1,395,946

​

No long-term borrowings due to related parties were guaranteed or collateralized as of June 30, 2024 and 2025.

Interest expense for long-term borrowings due to related parties were ¥472,593, ¥34,375 and ¥380,208 ($53,075) for the years ended June 30, 2023, 2024 and 2025, respectively.

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- Definition

The entire disclosure for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

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