v3.20.1

Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended
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Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract] |
Schedule of Change in the Carrying Amount of Goodwill | The change in the carrying amount of goodwill is as follows:
|  | RMB |
Balance as of December 31, 2017 |  |  | 32,009,025 |
Less: Disposal of discontinued operations (Note 26) |  |  | (32,009,025 | )
Balance as of December 31, 2018 |  |  | — |
Add: Acquisition of Huanqiuyimeng |  |  | 200,478,795 |
Balance as of December 31, 2019 |  |  | 200,478,795 |
Summary of Company's Intangible Assets | The following table summarizes the Company’s intangible assets, as of December 31, 2018 and 2019.
|  | December 31, 2018 |
|  | Gross carrying amount |  |  | Accumulated amortization /deduction |  |  | Impairment |  |  | Net carrying amount |  |  | Weighted average amortization period |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | Years |
Education assessment caseware (i) |  |  | 9,251,887 |  |  |  | (2,430,708 | ) |  |  | — |  |  |  | 6,821,179 |  |  |  | 5 |
Software platform of Project Shuang Chuang (ii) |  |  | 10,844,339 |  |  |  | (542,940 | ) |  |  | — |  |  |  | 10,301,399 |  |  |  | 5 |
Total intangible assets |  |  | 20,096,226 |  |  |  | (2,973,648 | ) |  |  | — |  |  |  | 17,122,578 |  |  |  |  |
|  | December 31, 2019
|  | Gross carrying amount |  | Accumulated amortization /deduction |  | Impairment |  | Net carrying amount |  | Weighted average amortization period
|  | RMB |  | RMB |  | RMB |  | RMB |  | Years
Trademark (iii) |  | 79,000,000 |  | (3,291,667) |  | — |  | 75,708,333 |  | 10
Non-compete arrangements (iii) |  | 56,000,000 |  | (3,888,889) |  | — |  | 52,111,111 |  | 6
Order backlogs (iii) |  | 4,000,000 |  | (1,190,476) |  | — |  | 2,809,524 |  | 1.4
Education assessment caseware (i) |  | 9,251,887 |  | (4,281,085) |  | — |  | 4,970,802 |  | 5
Software platform of Project Shuang Chuang (ii) |  | 10,844,339 |  | (2,716,145) |  | (8,128,194) |  | — |  | 5
Total intangible assets |  | 159,096,226 |  | (15,368,262) |  | (8,128,194) |  | 135,599,770 |  |
(i) | Education assessment caseware is the test content purchased for the Company’s strategic K-12 academic assessment business, which includes three subjects of Literature, Mathematics and English over six grades of junior and senior high school.
(ii) | Software platform of Project Shuang Chuang is the software platform purchased from a third party for providing vocational assessment and training services that focuses on the innovation related competencies of college students.
As of December 31, 2019, the Company conducted impairment test on intangible assets and identified that no cash inflows nor feasibility use is anticipated from the intangible assets and other non-current assets recorded relating to the software platform developed under Project Shuang Chuang. As a result, RMB 8,932,439 of impairment loss relating to intangible assets and other non-current assets for software platform of Project Shuang Chuang was recognized for the year ended December 31, 2019. No impairment loss was recognized for the nine months ended December 31, 2017 and for the year ended December 31, 2018.
(iii) | Trademark, Non-compete arrangements and Order backlogs were recorded as a result of Huanqiuyimeng Acquisition. See note 3 for details.
Summary of Total Amortization Expense Recognized | Total amortization expense recognized for nine months ended December 31, 2017, the years ended December 31, 2018 and 2019 is allocated to the following expense items:
|  | Nine months ended December 31 |  |  | Twelve months ended December 31 |  |  | Twelve months ended December 31
|  | 2017 |  |  | 2018 |  |  | 2019
|  | RMB |  |  | RMB |  |  | RMB
Cost of revenues |  |  | 753,114 |  |  |  | 1,468,726 |  |  | 2,031,478
Sales and marketing |  |  | — |  |  |  | 542,940 |  |  | 1,992,105
General and administrative |  |  | — |  |  |  | — |  |  | 8,371,032
Total amortization expense |  |  | 753,114 |  |  |  | 2,011,666 |  |  | 12,394,615
Schedule of Estimated Amortization Expense | As of December 31, 2019, the estimated amortization expense for the next five years is as follows:
|  | December 31 |
|  | RMB |
2020 |  |  | 21,893,234 |
2021 |  |  | 19,083,711 |
2022 |  |  | 18,121,730 |
2023 |  |  | 17,614,984 |
2024 |  |  | 17,233,333 |

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