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Prepaid Expenses and Other Current Assets, Net
 12 Months Ended
Dec. 31, 2022
Disclosure Text Block Supplement [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET
4.PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

 

Prepaid expenses and other current assets consisted of the following:

 

   As of 
   December 31,
   December 31,
 
   2021   2022 
   RMB   RMB   US$ 
Advances to suppliers (a)   20,578,203    2,222,046    319,049 
Tax refund (b)   7,931,578    1,924,536    276,331 
Deposits (c)   1,952,388    6,238,305    895,716 
Other receivables (d)   2,833,783    2,063,807    296,328 
    33,295,952    12,448,694    1,787,424 
Allowance of doubtful accounts   (4,744,565)   (237,704)   (34,130)
                
Total prepaid expenses and other receivables, net   28,551,387    12,210,990    1,753,294 

 

(a)The balance mainly represents the advance payments made chartered airlines freight services and rent.

 

(b)The balance mainly represents the tax refund JYD SM entitled from international trading business. Jayud has recorded a full allowance for the portion with doubt of collection.

 

(c)The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors. The significant increase was mainly due to the business growth of our freight forwarding services provided.

 

(d)The balance mainly represents the customs or fees that Jayud paid on behalf of customers and advances to employees.

 

The movement of allowance of doubtful accounts is as follows:

 

   As of 
   December 31,
   December 31,
 
   2021   2022 
   RMB   RMB   US$ 
Beginning balance   4,744,728    4,744,565    681,240 
Addition   
-
    237,704    34,130 
Reverse   (163)   
-
    
-
 
Write off   
-
    (4,744,565)   (681,240)
Ending balance   4,744,565    237,704    34,130 

 

The Group recorded bad debt expenses of RMB144,687, RMB nil and RMB237,704(US$34,140) for the years ended December 31, 2020, 2021 and 2022, respectively. For the year ended December 31, 2022, the Group had write off RMB4,744,565 (US$681,240) in bad debt since after all collection efforts have been exhausted.