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CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables) | 6 Months Ended
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Dec. 31, 2024
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY |
Schedule of parent company balance sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, |  | December 31, |  | December 31,
​ | ​ | 2024 | ​ | 2024 | ​ | 2024
​ | ​ | ​ | ​ | RMB | ​ | US Dollars
​ |  | RMB |  | (Unaudited) |  | (Unaudited)
ASSETS |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Cash |  | ¥ | 16,473,018 |  | ¥ | 74,929,137 | ​ | $ | 10,265,250
Short-term investments | ​ | ​ | 88,091,794 | ​ | ​ | — | ​ | ​ | —
Due from intercompany* |  | ​ | 375,736,992 |  | ​ | 377,505,218 | ​ |  | 51,718,003
Other current assets |  | ​ | 170,158,947 |  | ​ | 198,920,232 | ​ |  | 27,251,960
Total Current Assets |  | ​ | 650,460,751 |  | ​ | 651,354,587 | ​ |  | 89,235,213
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment in subsidiaries and VIEs |  | ​ | (145,408,577) |  | ​ | (161,500,924) | ​ |  | (22,125,536)
Total Assets |  | ¥ | 505,052,174 | ​ | ¥ | 489,853,663 | ​ | $ | 67,109,677
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND SHAREHOLDERS’ EQUITY |  | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Other current liabilities |  | ​ | 2,490,668 | ​ | ​ | 1,299,299 | ​ | ​ | 178,003
Total Current Liabilities | ​ | ​ | 2,490,668 | ​ | ​ | 1,299,299 | ​ | ​ | 178,003
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Warrant liability - non-current |  | ​ | 6,969 | ​ | ​ | 17,504 | ​ | ​ | 2,398
Total Liabilities |  | ¥ | 2,497,637 | ​ | ¥ | 1,316,803 | ​ | $ | 180,401
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
COMMITMENTS AND CONTINGENCIES |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
SHAREHOLDERS’ EQUITY |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Class A ordinary shares, $0.0001 U.S. dollar par value, 500,000,000 shares authorized; 7,987,959 shares and 7,987,959 shares issued and outstanding as of June 30, 2024 and December 31, 2024, respectively** |  | ​ | 99,634 | ​ | ​ | 99,634 | ​ | ​ | 13,650
Class B ordinary shares, $0.0001 U.S. dollar par value, 80,000,000 shares authorized; 7,100,000 shares and 20,000,000 shares issued and outstanding as of June 30, 2024 and December 31, 2024, respectively** |  | ​ | 4,693 | ​ | ​ | 14,038 | ​ | ​ | 1,923
Additional paid-in capital** |  | ​ | 681,476,717 | ​ | ​ | 686,830,523 | ​ | ​ | 94,095,396
Accumulated deficit |  | ​ | (216,163,156) | ​ | ​ | (236,751,485) | ​ | ​ | (32,434,820)
Accumulated other comprehensive income |  | ​ | 37,136,649 | ​ | ​ | 38,344,150 | ​ | ​ | 5,253,127
Total Shareholders’ Equity |  | ​ | 502,554,537 | ​ | ​ | 488,536,860 | ​ | ​ | 66,929,276
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Liabilities and Shareholders’ Equity |  | ¥ | 505,052,174 | ​ | ¥ | 489,853,663 | ​ | $ | 67,109,677
* | Due from intercompany are eliminated upon consolidation.
​
Schedule of parent company statements of operations and comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the six months ended December 31,
​ | ​ | 2023 | ​ | 2024 | ​ | 2024
​ | ​ | RMB | ​ | RMB | ​ | U.S. Dollars
​ |  | (Unaudited) |  | (Unaudited) |  | (Unaudited)
Revenues |  | ¥ | — |  | ¥ | — | ​ | $ | —
Cost of revenues |  | ​ | — |  | ​ | — | ​ |  | —
Gross profit |  | ​ | — |  | ​ | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
General and administrative expenses |  | ​ | 11,698,953 |  | ​ | 11,962,691 | ​ |  | 1,638,882
Loss from operations |  | ¥ | (11,698,953) |  | ¥ | (11,962,691) | ​ | $ | (1,638,882)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss in fair value changes of warrants liability |  | ​ | (1,941,195) |  | ​ | (10,327) | ​ |  | (1,415)
Other income (expenses) |  | ​ | (960,280) | ​ | ​ | 5,846,562 | ​ | ​ | 800,976
Equity in earnings of subsidiaries, VIEs and VIEs’ subsidiaries |  | ​ | (7,954,486) | ​ | ​ | (14,461,878) | ​ | ​ | (1,981,269)
Net loss |  | ¥ | (22,554,914) | ​ | ¥ | (20,588,334) | ​ | $ | (2,820,590)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FOREIGN CURRENCY TRANSLATION ADJUSTMENTS |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency translation adjustments related to investments in subsidiaries, VIEs and VIEs’ subsidiaries |  | ​ | (4,609,399) | ​ | ​ | 1,207,501 | ​ | ​ | 165,427
Comprehensive loss attributable to the company |  | ¥ | (27,164,313) | ​ | ¥ | (19,380,833) | ​ | $ | (2,655,163)
Schedule of parent company statements of cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the six months ended December 31,
​ | ​ | 2023 | ​ | 2024 | ​ | 2024
​ | ​ | RMB | ​ | RMB | ​ | U.S. Dollars
​ |  | (Unaudited) |  | (Unaudited) |  | (Unaudited)
Cash flows from operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net loss |  | ¥ | (22,554,914) |  | ¥ | (20,588,334) | ​ | $ | (2,820,590)
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Loss in fair value changes of warrants liability |  | ​ | 10,461,075 |  | ​ | 10,327 | ​ | ​ | 1,415
Restricted shares issued for management and employees |  | ​ | 2,866,560 |  | ​ | 5,353,151 | ​ |  | 733,379
Accrued interest income from loans to third parties | ​ | ​ | (3,088,457) | ​ | ​ | (5,381,364) | ​ | ​ | (737,244)
Accrued interest income from short-term investment |  | ​ | (2,352,250) |  | ​ | — | ​ |  | —
Restricted shares issued for services |  | ​ | 1,070,144 |  | ​ | — | ​ |  | —
Equity in earnings of subsidiaries and VIEs |  | ​ | 7,954,486 |  | ​ | 14,461,878 | ​ |  | 1,981,269
Other current assets |  | ​ | 7,289,074 |  | ​ | 78,508 | ​ |  | 10,756
Other current liabilities |  | ​ | (2,516,342) |  | ​ | (1,191,370) | ​ |  | (163,217)
Net cash used in operating activities |  | ​ | (870,624) |  | ​ | (7,257,204) | ​ | ​ | (994,232)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from investing activities: |  | ​ | ​ |  | ​ | ​ | ​ |  | ​
Repayments from loans to third parties | ​ | ​ | 24,849,650 | ​ | ​ | — | ​ | ​ | —
Payments made for loans to third parties |  | ​ | — |  | ​ | (21,897,900) | ​ |  | (3,000,000)
Payments for short-term investments |  | ​ | (113,598,400) |  | ​ | — | ​ |  | —
Redemption of short - term investments | ​ | ​ | — | ​ | ​ | 88,892,092 | ​ | ​ | 12,178,167
Due from intercompany, VIEs and VIEs’ subsidiaries |  | ​ | (64,916,652) |  | ​ | (1,768,224) | ​ |  | (242,246)
Net cash (used in) generated by investing activities |  | ​ | (153,665,402) |  | ​ | 65,225,968 | ​ |  | 8,935,921
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash used in financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from sale of common share, net of issuance costs | ​ | ​ | — | ​ | ​ | (810,082) | ​ | ​ | (110,981)
Redemption of warrants | ​ | ​ | (31,866,604) | ​ | ​ | — | ​ | ​ | —
Net cash used in financing activities | ​ | ​ | (31,866,604) | ​ | ​ | (810,082) | ​ | ​ | (110,981)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effect of exchange rate fluctuation on cash |  | ​ | (15,086,688) |  | ​ | 1,297,437 | ​ | ​ | 177,748
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (decrease) increase in cash |  | ​ | (201,489,318) |  | ​ | 58,456,119 | ​ |  | 8,008,456
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH, beginning of period |  | ​ | 236,146,589 |  | ​ | 16,473,018 | ​ |  | 2,256,794
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CASH, end of period |  | ¥ | 34,657,271 |  | ¥ | 74,929,137 | ​ | $ | 10,265,250
​

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