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v3.22.2.2

Property and Equipment, net | 12 Months Ended
--- | ---
Jun. 30, 2022
Property and Equipment, net |
Property and Equipment, net |
6. | Property and Equipment, net
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of June 30,
​ |  | 2021 |  | 2022 |  | 2022
​ | ​ | RMB | ​ | RMB | ​ | US$
​ | ​ | ​ | ​ | ​ | ​ | ​
Real estate property (1) | ​ | — | ​ | 300,757 | ​ | 44,814
Leasehold improvements |  | 115,352 |  | 133,163 |  | 19,841
Electronic equipment |  | 44,322 |  | 66,590 |  | 9,922
Furniture, fixtures and other equipment |  | 21,271 |  | 21,840 |  | 3,254
Motor vehicles |  | 2,533 |  | 2,533 |  | 377
Property and equipment, cost |  | 183,478 |  | 524,883 |  | 78,208
Less: accumulated depreciation |  | (162,374) |  | (199,771) |  | (29,766)
​ |  | 21,104 |  | 325,112 |  | 48,442
​ Depreciation expenses for the years ended June 30, 2021 and 2022 were approximately RMB18,715 and RMB25,448, respectively.
| (1) | On December 9, 2021, the Group entered into a Share Purchase Agreement to purchase 100% equity interest of Shanghai Yulan Real Property Co., Ltd., Shanghai Suxiao Real Property Co., Ltd., Shanghai Danxiao Real Property Co. Ltd., and Shanghai Biyu Real Property Co., Ltd. (collectively refer to as the “Real Property Companies”), who are the owners of 3rd and 4th floor of No. 8, Yincheng Middle Road (the “Property”), the Group’s current principal office. The current principal office was leased from the Real Property Companies before the acquisition.
The consideration for acquiring the Real Property Companies is RMB36,338 cash as well as the assumption of liabilities of Real Property Companies of RMB273,950 to a third party. There is no noncash or contingent consideration. As of June 30, 2022, the Group has paid full amount of the cash consideration and RMB200,000 liabilities assumed in this acquisition to a third party. The acquisition is accounted as an asset acquisition since substantially all the fair value of the gross assets acquired is concentrated in a single group of identifiable assets. The excess of consideration over fair value of the assets acquired was allocated to property and equipment. For the years ended June 30, 2021 and 2022, no impairment loss was recognized for the Group’s property and equipment.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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