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CONTRACT COSTS, NET

6 Months Ended

Dec. 31, 2024

CONTRACT COSTS, NET

CONTRACT COSTS, NET

NOTE 7. CONTRACT COSTS, NET

Contract costs, net consisted of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			December 31,			December 31,
​	​	2024		​	2024		​	2024
​	​	​	​	​	RMB		​	US Dollars
Third Party		RMB			(Unaudited)		​	(Unaudited)
Contract costs		¥	56,730,105	​	¥	48,672,331	​	$	6,668,083
Allowance for credit losses			(8,394,288)			(7,043,409)	​		(964,944)
Total contract costs, net		¥	48,335,817	​	¥	41,628,922	​	$	5,703,139

​

As of December 31, 2024, total contracts costs, net amounted to ¥41.6 million ($5.7 million), of which 40.7%, or ¥16.9 million ($2.3 million) have been subsequently realized as the date of this report, and the remaining balance is expected to be utilized by December 2025.

Provision for credit losses of contract costs was ¥1,939,135 for the six months ended December 31, 2023. The net recovery of credit losses of contract costs was ¥521,268 ($71,413) for the six months ended December 31, 2024.

Movement of allowance for credit losses of contract costs is as follows:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			December 31,			December 31,
​	​	2024		​	2024		​	2024
​	​	​		​	RMB		​	US Dollars
​	​	RMB			(Unaudited)		​	(Unaudited)
Beginning balance		¥	2,586,155	​	¥	8,394,288	​	$	1,150,013
Reversal of allowance			4,532,872	​	​	(521,268)	​	​	(71,413)
Charge to cost of sales	​	​	1,275,261	​	​	(829,611)	​	​	(113,656)
Ending balance		¥	8,394,288	​	¥	7,043,409	​	$	964,944

​

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