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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2022

Summary of Significant Accounting Policies

Summary of aging schedule of the accounts receivable

The aging schedule of the accounts receivable is as follows:

​	​	​	​	​	​	​
​		For the years ended June 30,
​		2021		2022		2022
​	​	RMB	​	RMB	​	US$
​	​	​	​	​	​	​
Less than 3 months		466,082	​	450,326	​	67,099
More than 3 months and less than 1 year		127,979	​	111,049	​	16,546
More than 1 year		—	​	2,999	​	447
Total		594,061	​	564,374	​	84,092

Summary of roll forward schedule of accounts receivable

The roll forward schedule of accounts receivable is as follows:

​	​	​	​	​
​	​	Amount
​		RMB		US$
Balance as of June 30, 2020		403,693	​	57,023
Revenue (including VAT)		1,940,407	​	298,117
Collection		(1,750,039)	​	(263,182)
Balance as of June 30, 2021		594,061	​	91,958
Revenue (including VAT)		2,055,534	​	318,352
Collection		(2,085,221)	​	(326,218)
Balance as of June 30, 2022		564,374	​	84,092

Summary of estimated useful lives of property and equipment

​

​	​	​
Real estate property		14 years
Leasehold improvements		Shorter of the remaining lease terms and estimated useful lives
Electronic equipment		3-6 years
Furniture, fixture and other equipment	​	3-5 years
Motor Vehicles		5 years

Summary of revenues disaggregated by service line and timing of revenue recognition

The following tables present the Group’s revenues disaggregated by service line and timing of revenue recognition:

​

​	​	​	​	​	​	​	​	​
​	​	Year Ended June 30, 2020
​	​	Wealth	​	Assets	​	​	​	Total Net
​		Management		Management		Others		Revenues
​	​	RMB	​	RMB	​	RMB	​	RMB
​	​	​	​	​	​	​	​	​
Revenues recognized at a point in time		1,274,434		—	​	5,809	​	1,280,243
Revenues recognized over time		—		4,620	​	—	​	4,620
Total		1,274,434		4,620	​	5,809	​	1,284,863

​

​	​	​	​	​	​	​	​	​
​	​	Year Ended June 30, 2021
​	​	Wealth	​	Assets	​	​	​	Total Net
​		Management		Management		Others		Revenues
​	​	RMB	​	RMB	​	RMB	​	RMB
​	​	​	​	​	​	​	​	​
Revenues recognized at a point in time		1,795,552		1,322	​	23,928	​	1,820,802
Revenues recognized over time		—		13,620	​	—	​	13,620
Total		1,795,552		14,942	​	23,928	​	1,834,422

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended June 30, 2022
​	​	Wealth	​	Assets	​	Health	​	​	​	Total Net
​		Management		Management		Management		Others		Revenues
​	​	RMB	​	RMB	​	RMB	​	RMB	​	RMB
​	​	​	​	​	​	​	​	​	​	​
Revenues recognized at a point in time		1,871,958		171	​	422	​	22,642	​	1,895,193
Revenues recognized over time		27,615		19,305	​	—	​	—	​	46,920
Total		1,899,573		19,476	​	422	​	22,642	​	1,942,113
Amounts in US$		294,197		3,016	​	65	​	3,508	​	300,786

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Tabular disclosure of aging analysis for accounts receivable, classified as noncurrent.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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