XML 22 R12.htm IDEA: XBRL DOCUMENT

OTHER RECEIVABLES, NET

6 Months Ended

Dec. 31, 2024

NOTE 5. OTHER RECEIVABLES, NET

Other receivables, net consisted of the following:


	June 30,		December 31,		December 31,
	2024		2024		2024
			RMB		US Dollars
Third Party	RMB		(Unaudited)		(Unaudited)
Business advances to officers and staffs *	¥	1,373,300	¥	1,469,788	$	201,360
Deposits for projects		1,056,316		1,651,530		226,259
VAT recoverable		583,413		625,505		85,694
Others		1,139,397		763,660		104,620
Allowance for credit losses		(800,374)		(575,618)		(78,859)
Other receivable, net	¥	3,352,052	¥	3,934,865	$	539,074

*Business advances to officers and staffs represent advances for business travel and sundry expenses related to oilfield or on-site installation and inspection of products through customer approval and acceptance.

Net recovery of provision for credit losses of other receivables was ¥1,392,516 for the six months ended December 31, 2023. Net recovery of provision for credit losses of other receivables was ¥224,756 ($30,792) for the six months ended December 31, 2024.

Movement of allowance for credit losses is as follows:


	June 30,		December 31,		December 31,
	2024		2024		2024
			RMB		US Dollars
	RMB		(Unaudited)		(Unaudited)
Beginning balance	¥	1,994,960	¥	800,374	$	109,651
Charge to (reversal of) allowance		(1,194,586)		(224,756)		(30,792)
Ending balance	¥	800,374	¥	575,618	$	78,859