Leases (Tables)

12 Months Ended

Dec. 31, 2019

Schedule on Impact of ASC 842 on Consolidated Balance Sheet

The impact of ASC 842 on the December 31, 2019 consolidated balance sheet was as follows:

	December 31,
	2019
	RMB
Operating leases:
Right-of-use lease assets		40,786,291
Lease liabilities-current		20,556,017
Other non-current liabilities		12,500,120

Summary of Other Information Related to Leases

Other information related to leases is presented below:

		December 31,
		2019
		RMB
Supplemental cash flow information:
Cash paid for amounts included in measurement of operating leases liabilities		12,850,734
Right-of-use assets acquired in exchange for operating lease obligations		8,696,875
Right-of-use assets acquired in connection with Huanqiuyimeng Acquisition		32,089,416
Weighted average remaining lease term		1.67
Weighted average discount rate		5.88%

Schedule on Maturities of Lease Liabilities under Non-Cancellable Leases

Maturities of lease liabilities under non-cancellable leases as of December 31, 2019 are as follows:

		Operating leases
		RMB
2020		21,869,242
2021		10,956,342
2022		2,601,561
2023		359,048
2024		—
Thereafter		—
Total undiscounted lease payments		35,786,193
Less: Imputed interest		(2,730,056)
Total lease liabilities		33,056,137
Amounts due within 12 months		20,556,017
Non-current lease liability		12,500,120

Summary of Short-term Lease Commitments

Short-term lease expense, with a lease term of 12 months or less, for the year ended December 31, 2019 was RMB 2,125,616 and short-term lease commitments as of December 31, 2019 are as follows:

		Short-term Lease Commitments Amount
		RMB
Year ended December 31:
2020		1,506,677
		1,506,677

Schedule on Future Minimum Annual Lease Payments under (ASC 840) Operating Leases

As previously disclosed in the consolidated financial statements for the year ended December 31, 2018 and under the previous lease standards (ASC 840), future minimum annual lease payments for the years subsequent to December 31, 2018 and in aggregate are as follows:

		Minimum
		Lease Payments Amount
		RMB
Year ended December 31:
2019		2,959,829
2020		346,745
2021		—
2022		—
2023		—
		3,306,574