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CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
6 Months Ended
Dec. 31, 2024
CNY (¥)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
CNY (¥)
Cash flows from operating activities:      
Net loss ¥ (20,729,599) $ (2,839,942) ¥ (23,107,851)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,724,066 236,196 1,426,971
Loss from disposal of equipment 9,607 1,316 32,252
Gain in fair value changes of warrants liability 10,327 1,415 10,461,075
Allowance for credit losses 870,714 119,287 1,553,364
Allowance for slow moving inventories (523,228) (71,682) (350,637)
Amortization of right-of-use assets 1,532,232 209,915 570,959
Restricted shares issued for management and employees 5,353,151 733,376 2,866,560
Restricted shares issued for services 0 0 1,070,143
Accrued interest income from loans to third parties (6,779,697) (928,815) (4,415,298)
Accrued interest income from short-term investment 0 0 (2,352,250)
Changes in operating assets and liabilities:      
Notes receivable (1,864,913) (255,492) (8,790,327)
Accounts receivable (3,348,819) (458,786) (4,412,034)
Inventories (718,490) (98,433) 4,863,435
Other receivables (358,057) (49,051) 5,465,227
Other receivables-related parties (4,000) (548) 0
Purchase advances 81,256 11,132 558,040
Contract costs 8,057,774 1,103,911 10,442,916
Prepaid expense (295,291) (40,455) 54,734
Operating lease liabilities (1,039,360) (142,392) (2,027,067)
Accounts payable 3,913,353 536,127 1,271,140
Other payables (1,194,817) (163,689) (4,103,150)
Other payables-related parties (511,754) (70,110) (383,378)
Contract liabilities 2,277,655 312,037 2,140,385
Accrued payroll and employees' welfare 179,209 24,552 17,399
Taxes payable 691,901 94,790 537,591
Net cash used in operating activities (12,666,780) (1,735,341) (6,609,801)
Cash flows from investing activities:      
Purchases of property and equipment (455,380) (62,387) (216,082)
Proceeds from disposal of equipment 0 0 20,000
Purchase of land use right 0 0 (15,000,251)
Collection of loans to third parties 2,904,352 397,895 44,613,948
Payments made for loans to third parties (36,897,900) (5,054,992) (16,600,000)
Payments and prepayments for construction in progress (5,337,873) (731,286) 0
Payments for short-term investments 0 0 (131,598,400)
Redemption of short-term investments 88,892,092 12,178,167 180,338,865
Net cash generated by investing activities 49,105,291 6,727,397 61,558,080
Cash flows from financing activities:      
Repayments of short-term bank loans (843,487) (115,557) (123,000)
Proceeds from short-term borrowings-related parties 0 0 10,000,000
Repayments of short-term borrowings-related parties 0 0 (10,018,222)
Deferred offering costs (810,082) (110,981) 0
Redemption of warrants 0 0 (31,866,604)
Capital contribution by controlling shareholders 10,000 1,370 0
Net cash used in financing activities (1,643,569) (225,168) (32,007,826)
Effect of exchange rate fluctuation on cash and restricted cash (343,038) (46,996) (5,945,117)
Net increase in cash and restricted cash 34,451,904 4,719,892 16,995,336
Cash and restricted cash at beginning of period 110,840,610 15,185,101 104,857,345
Cash and restricted cash at end of period 145,292,514 19,904,993 121,852,681
Supplemental cash flow information      
Cash paid during the period for interest 518,086 133,730 468,440
Cash paid during the period for taxes 1,363,403 294,729 16,505
Reconciliation of cash and restricted cash, beginning of period      
Cash 109,991,674 15,068,797 104,125,800
Restricted cash 848,936 116,304 731,545
Cash and restricted cash at beginning of period 110,840,610 15,185,101 104,857,345
Cash 145,284,391 19,903,880 121,848,777
Restricted cash 8,123 1,113 3,904
Cash and restricted cash at end of period 145,292,514 19,904,993 121,852,681
Non-cash investing and financing activities      
Right-of-use assets obtained in exchange for operating lease obligations ¥ 0 $ 0 ¥ 298,783