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LONG-TERM BORROWINGS DUE TO RELATED PARTIES | 6 Months Ended
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Dec. 31, 2024
LONG-TERM BORROWINGS DUE TO RELATED PARTIES |
LONG-TERM BORROWINGS DUE TO RELATED PARTIES | NOTE 15. LONG-TERM BORROWINGS DUE TO RELATED PARTIES Long-term borrowings due to related parties consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |  | December 31,
​ | ​ | 2024 | ​ | 2024 | ​ | 2024
​ | ​ | ​ | ​ | RMB | ​ | US Dollars
Long-term borrowings due to related parties: | ​ | RMB | ​ | (Unaudited) | ​ | (Unaudited)
Long-term borrowing from a Founder, 3.75% annual interest, three years loan, due in April 29, 2027 |  | ¥ | 10,000,000 |  | ¥ | 10,000,000 |  | $ | 1,369,994
Total long-term borrowings due to related parties |  | ¥ | 10,000,000 |  | ¥ | 10,000,000 | ​ | $ | 1,369,994
​ On May 29, 2024, the Company entered into a three-year supplemental agreement with the founder, changing loan maturity date from June 4, 2024, and June 16, 2024, to April 29, 2027 and the annual interest rate to 3.75%. Interest expense for short-term borrowings due to related parties was nil and ¥191,667($26,258) for the six months ended December 31, 2023 and 2024, 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 + Details
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