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SHORT-TERM BORROWINGS DUE TO RELATED PARTIES

6 Months Ended

Dec. 31, 2024

SHORT-TERM BORROWINGS DUE TO RELATED PARTIES

SHORT-TERM BORROWINGS DUE TO RELATED PARTIES

NOTE 14. SHORT-TERM BORROWINGS DUE TO RELATED PARTIES

Short-term borrowings due to related parties consisted of the following:

​

​	​	​	​	​	​	​	​	​	​
​		June 30,			December 31,			December 31,
​	​	2024		​	2024		​	2024
​	​	​	​	​	RMB		​	US Dollars
Short-term borrowings due to related parties:	​	RMB		​	(Unaudited)		​	(Unaudited)
Short-term borrowing from a Founder, 3.45% annual interest, due on December 28, 2024		¥	10,002,875		¥	—	​	$	—
Short-term borrowing from a Founder, 3.45% annual interest, due on December 13, 2025	​	​	—	​	​	10,018,208	​	​	1,372,489
Total short-term borrowings due to related parties		¥	10,002,875		¥	10,018,208	​	$	1,372,489

​

No short-term borrowings due to related parties were guaranteed or collateralized as of June 30, 2024 and December 31, 2024.

Interest expense for short-term borrowings due to related parties were ¥338,338 and ¥176,333 ($24,158) for the six months ended December 31, 2023 and 2024, respectively.

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- Definition

The entire disclosure for short-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

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