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Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
LEASES | 12. LEASES Supplemental balance sheet information related to operating lease was as follows:
|  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
Right-of-use assets |  |  | 31,403,688 |  |  |  | 12,237,211 |  |  |  | 1,728,505 |
Less: impairment |  |  | - |  |  |  | (3,244,676 | ) |  |  | (458,857 | )
Right-of-use assets |  |  | 31,403,688 |  |  |  | 8,992,535 |  |  |  | 1,269,648 |
Operating lease liabilities – current |  |  | 18,079,265 |  |  |  | 8,806,671 |  |  |  | 1,243,406 |
Operating lease liabilities – non-current |  |  | 13,276,535 |  |  |  | 5,216,622 |  |  |  | 736,530 |
Total operating lease liabilities |  |  | 31,355,800 |  |  |  | 14,023,293 |  |  |  | 1,979,936 |
The weighted average remaining lease terms and discount rates for the operating lease as of December 31, 2023 were as follows:
Remaining lease term and discount rate: |  |  |
Weighted average remaining lease term (years) |  |  | 2.33 |
Weighted average discount rate |  |  | 4.2 | %
A summary of lease expenses recognized in the consolidated statements of operations as of December 31, 2023 and supplemental cash flow information related to operating leases were as follows:
|  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
Lease expense |  |  |  |  |  |  |  |  |
Operating lease expense - third party |  |  | 10,933,292 |  |  |  | 10,148,284 |  |  |  | 1,432,827 |
Short-term lease expense |  |  | - |  |  |  | 15,056,781 |  |  |  | 2,125,853 |
Sublease income (1) |  |  | - |  |  |  | (707,009 | ) |  |  | (99,822 | )
Total lease expense |  |  | 10,933,292 |  |  |  | 24,498,055 |  |  |  | 3,458,858 |
Other information |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for operating leases |  |  |  |  |  |  | 8,543,549 |  |  |  | 1,206,256 |
Right-of-use assets obtained in exchange for operating new lease liabilities |  |  | 35,873,660 |  |  |  | 15,838,886 |  |  |  | 2,236,278 |
| * (1) | For the year ended December 31, 2023, the Group incurred sublease income of RMB 707,009 (US$99,822), and sublease cost of RMB 858,098 (US$121,154).
For the years ended December 31, 2021, 2022 and 2023, the Group incurred total operating lease expenses of RMB3,498,048, RMB10,933,292 and RMB24,498,055 (US$ 3,458,858) respectively. The following is a schedule of future minimum payments under the Group’s operating leases as of December 31, 2023:
Year |  | Amounts |
|  | RMB |  |  | US$ |
2024 |  |  | 9,206,946 |  |  |  | 1,299,920 |
2025 |  |  | 3,510,711 |  |  |  | 495,674 |
2026 |  |  | 581,689 |  |  |  | 82,128 |
2027 |  |  | 539,727 |  |  |  | 76,204 |
2028 |  |  | 334,122 |  |  |  | 47,174 |
Thereafter |  |  | 558,808 |  |  |  | 78,898 |
Total lease payments |  |  | 14,732,003 |  |  |  | 2,079,998 |
Less: imputed interest |  |  | 708,710 |  |  |  | 100,062 |
Total operating lease liabilities, net of interest |  |  | 14,023,293 |  |  |  | 1,979,936 |
The Company recognized a lease termination loss of RMB 478,933, which is included in Lease termination loss on the Consolidated Statement of Operations and Comprehensive Income / (Loss) for the year ended December 31, 2023, related to the early termination of warehouse.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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