v3.20.1

Fair Value Measurement (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Schedule of Roll-forward of Fair Value of Level 3 (Significant Unobservable Inputs) Assets | The following table presents a roll-forward of the fair value of Level 3 available-for-sale investment for nine months ended December 31, 2017 and the years ended December 31, 2018 and 2019, respectively:
|  | Available-for-sale investment |
|  | RMB |
Ending balance as of March 31, 2017 |  |  | 10,376,547 |
Total gain or losses: |  |  |  |
Included in net income |  |  | (10,458,538) |
Reclassification adjustment for loss on available-for-sale investment included in net income, net of nil income tax |  |  | 553,870 |
Foreign currency translation adjustment |  |  | (471,879) |
Ending balance as of December 31, 2017, 2018 and 2019 |  |  | — |
Schedule of Fair Value Hierarchy of Assets That Are Measured at Fair Value on Non-recurring Basis | The following tables present the placement in the fair value hierarchy of assets that are measured at fair value on a non-recurring basis at December 31, 2018 and 2019:
|  |  |  | Fair value disclosure or measurement at December 31, 2018 using
|  | December 31, 2018 |  | Level 1 |  | Level 2 |  | Level 3
|  | RMB |  | RMB |  | RMB |  | RMB
Other equity investments |  |  |  |  |  |  |  |
ApplySquare Education & Technology Co., Ltd. |  | 22,471,700 |  | — |  | — |  | 22,471,700
Beijing GlobalWisdom Information Technology Co., Ltd. |  | 5,919,198 |  | — |  | — |  | 5,919,198
|  |  |  | Fair value disclosure or measurement at December 31, 2019 using
|  | December 31, 2019 |  | Level 1 |  | Level 2 |  | Level 3
|  | RMB |  | RMB |  | RMB |  | RMB
Other equity investments |  |  |  |  |  |  |  |
ApplySquare Education & Technology Co., Ltd. |  | 1,576,391 |  | — |  | — |  | 1,576,391
Beijing GlobalWisdom Information Technology Co., Ltd. |  | — |  | — |  | — |  | —

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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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