XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.25.1

COMMITMENTS AND CONTINGENCY | 6 Months Ended
--- | ---
Dec. 31, 2024
COMMITMENTS AND CONTINGENCY |
COMMITMENTS AND CONTINGENCY | NOTE 22. COMMITMENTS AND CONTINGENCY (a) Contingency Severance payments The Labor Contract Law of the PRC requires employers to assure the liability of severance payments if employment contracts are terminated. The employers will be liable for one month of severance pay for each year of the service provided by the employees. As of December 31, 2024, the Company estimated its severance payments of approximately ¥9.0 million ($1.2 million) which has not been reflected in its consolidated financial statements, because management cannot predict what the actual payment, if any, will be in the future. Legal contingencies ​ There exists a legal dispute between Gansu BHD and its minority shareholders regarding company operations. Production activates were not allowed during this period. Additionally, the enterprise is currently renewing its hazardous waste permit and is in a state of abnormal operation. ​ (b) Purchase commitment The total future minimum purchase commitment under the non-cancellable purchase contracts as of December 31, 2024 are payable as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | RMB | ​ | US Dollars
Twelve months ending December 31, |  | (Unaudited) |  | (Unaudited)
2025 | ​ | ¥ | 27,265,303 | ​ | $ | 3,735,331
Total minimum payments required |  | ¥ | 27,265,303 | ​ | $ | 3,735,331
​ (c) Leases Commitment ​ The Company has entered into several operating leases for office premises with the property owner and service agreements with a property service company, respectively. According to the agreements, the Company is required to pay rent and property management fees for future periods, of which, future rent payments have been included in lease liabilities as disclosed in Note 10, and the future property management fees payable as of December 31, 2024 are disclosed as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Twelve months ending December 31, |  | RMB |  | US Dollars
2025 | ​ | ¥ | 590,975 | ​ | $ | 80,963
2026 | ​ | ​ | 613,362 | ​ | ​ | 84,030
2027 |  | ​ | 201,349 | ​ | ​ | 27,585
Total |  | ¥ | 1,405,686 | ​ | $ | 192,578
​

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 405 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/405-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/450/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 440 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478522/954-440-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 440 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/440/tableOfContent + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration