XML 68 R58.htm IDEA: XBRL DOCUMENT

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables)

6 Months Ended

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