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Condensed Financial Information of the Parent Company

12 Months Ended

Dec. 31, 2022

Condensed Financial Information [Abstract]

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

18. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

The Company performed a test on the restricted net assets of consolidated subsidiary in accordance with U.S. Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements for the parent company.

The condensed financial information of the parent company, Jayud, has been prepared using the same accounting policies as set out in Jayud’s consolidated financial statements except that the parent company has used equity method to account for its investment in its subsidiaries.

Jayud’s share of income and losses from its subsidiaries is reported as incomes from subsidiaries in the accompanying condensed financial information of parent company.

Jayud is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, Jayud is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands.

Jayud did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2021 and 2022.

Condensed balance sheets

		As of December 31,				As of December 31,
		2021				2022
		RMB				RMB				US$
Assets
Non-current assets
Investments in subsidiaries			16,887,523				33,325,657				4,785,006
Total assets			16,887,523				33,325,657				4,785,006
Shareholders’ equity
Class A Ordinary shares (par value of US$0.0001 per share;480,000,000 Class A ordinary shares authorized and 10,790,400 and 13,590,400 Class A ordinary shares issued and outstanding as of December 31, 2021, 2022, respectively.)*			6,880				8,830				1,268
Class B Ordinary shares (par value of US$0.0001 per share; 20,000,000 Class B ordinary shares authorized and 6,409,600 class B shares issued and outstanding as of December 31, 2021 and 2022, respectively.)*			4,087				4,087				587
Additional paid-in capital			13,190,206				72,691,813				10,437,328
Subscription receivable			-				(34,823,000	)			(5,000,000	)
Statutory reserves			2,447,862				4,651,141				667,826
Retained earnings (Accumulated deficit)			1,219,888				(9,025,668	)			(1,295,935	)
Accumulated other comprehensive income			18,600				(181,546	)			(26,068	)
Total shareholders’ equity			16,887,523				33,325,657				4,785,006
Total liabilities and shareholders’ equity			16,887,523				33,325,657				4,785,006

* Ordinary shares, additional paid-in capital and share data have been retroactively restated to give effect to the reverse recapitalization completed on September 6, 2022 (Note 1(b)).

Condensed statements of comprehensive income

		For the years ended December 31,
		2020				2021				2022
		RMB				RMB				RMB				US$
Operating income:
Share of income from subsidiaries			3,062,437				10,305,308				3,888,723				558,356
Total operating income			3,062,437				10,305,308				3,888,723				558,356
Income before income tax expense			3,062,437				10,305,308				3,888,723				558,356
Income tax expense			-				-				-				-
Net income			3,062,437				10,305,308				3,888,723				558,356
Other comprehensive income			11,615				10,158				(200,146	)			(28,738	)
Total comprehensive income			3,074,052				10,315,466				3,688,577				529,618

Condensed statements of cash flows

		For the years ended December 31,
		2020				2021				2022
		RMB				RMB				RMB				US$
Cash flows from operating activities:
Net income			3,062,437				10,305,308				3,888,723				558,356
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in gain of subsidiaries			(3,062,437	)			(10,305,308	)			(3,888,723	)			(558,356	)
Net cash provided by operating activities			-				-				-				-
Net cash provided by investing activities			-				-				-				-
Net cash provided by financing activities			-				-				-				-
Net increase in cash			-				-				-				-
Cash at beginning of year			-				-				-				-
Cash at end of year			-				-				-				-

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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