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Taxation (Tables) | 12 Months Ended
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Dec. 31, 2023
Taxation [Abstract] |
Schedule of Income Tax Provision | The income tax provision consisted of the following components:
|  | For the years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Current income tax expenses |  |  | 839,107 |  |  |  | 2,465,462 |  |  |  | 99,155 |  |  |  | 14,000 |
Deferred income tax expense (benefit) |  |  | 864,072 |  |  |  | 116,755 |  |  |  | (2,907,145 | ) |  |  | (410,457 | )
Total income tax expenses (benefit) |  |  | 1,703,179 |  |  |  | 2,582,217 |  |  |  | (2,807,990 | ) |  |  | (396,458 | )
Schedule of Income / (Loss) Before Provision for Income Taxes |
|  | For the years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Income / (loss) before provision for income taxes is attributable to the following geographic locations: |  |  |  |  |  |  |  |  |  |  |  |
PRC |  |  | 12,016,517 |  |  |  | 8,630,868 |  |  |  | (76,778,965 | ) |  |  | (10,840,353 | )
Foreign |  |  | (89,670 | ) |  |  | (4,670,754 | ) |  |  | (6,304,369 | ) |  |  | (890,109 | )
Total Income/(loss) before Income Taxes |  |  | 11,926,847 |  |  |  | 3,960,114 |  |  |  | (83,083,334 | ) |  |  | (11,730,462 | )
Schedule of Reconciliation Between the Provision for Income Taxes | Reconciliation between the provision for income taxes computed by applying the PRC EIT rate of 25% to income before income taxes and the actual provision of income taxes is as follows:
|  | For the years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
PRC statutory income tax rate |  |  | 25.0 | % |  |  | 25.0 | % |  |  | (25.0 | )%
Impact of different tax rates in other jurisdictions |  |  | 0.0 | % |  |  | 22.3 | %. |  |  | 1.1 | %
Effect of preferential tax rate |  |  | (6.4 | )% |  |  | 53.3 | % |  |  | 7.9 | %
Non-deductible (Non-taxable) items |  |  | 0.9 | % |  |  | 0.9 | % |  |  | 0.1 | %
Effect of additional R&D deduction |  |  | 0.0 | % |  |  | (9.0 | )% |  |  | 0.0 | %
Tax effect on deferred offering costs |  |  | (1.9 | )% |  |  | (32.3 | )% |  |  | (0.6 | )%
Change in valuation allowance |  |  | (3.3 | )% |  |  | 5.0 | % |  |  | 13.1 | %
Effective tax rate |  |  | 14.3 | % |  |  | 65.2 | % |  |  | (3.4 | )%
Schedule of Deferred Tax Assets and Deferred Tax Liability | As of December 31, 2022 and 2023, the significant components of the deferred tax assets and deferred tax liability were summarized below:
|  | As of |
|  | December 31, 2022 |  |  | December 31, 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
Deferred tax assets: |  |  |  |  |  |  |  |  |
Net operating loss carried forward |  |  | 1,750,257 |  |  |  | 10,843,551 |  |  |  | 1,530,991 |
Bad debt provision |  |  | 96,568 |  |  |  | 3,801,660 |  |  |  | 536,753 |
Impairment charges |  |  | - |  |  |  | 963,398 |  |  |  | 136,021 |
Lease liability |  |  | - |  |  |  | 818,974 |  |  |  | 115,630 |
Less: Valuation allowance |  |  | (1,825,262 | ) |  |  | (12,738,069 | ) |  |  | (1,798,476 | )
Deferred tax assets, net of valuation allowance |  |  | 21,563 |  |  |  | 3,689,514 |  |  |  | 520,919 |
|  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Right of use assets |  |  | - |  |  |  | (760,806 | ) |  |  | (107,418 | )
Total deferred tax liabilities |  |  | - |  |  |  | (760,806 | ) |  |  | (107,418 | )
Total deferred tax assets, net |  |  | 21,563 |  |  |  | 2,928,708 |  |  |  | 413,501 |
Schedule of Valuation Allowance | The movement of valuation allowance is as follows:
|  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
Beginning balance |  |  | 1,625,548 |  |  |  | 1,825,262 |  |  |  | 257,707 |
Addition |  |  | 197,431 |  |  |  | 10,907,213 |  |  |  | 1,539,980 |
Foreign exchange impact |  |  | 2,283 |  |  |  | 5,594 |  |  |  | 789 |
Ending balance |  |  | 1,825,262 |  |  |  | 12,738,069 |  |  |  | 1,798,476 |
Schedule of Net Operating Loss Carry Forward | As of December 31, 2023, net operating loss carry forward will expire, if unused, in the following amounts:
For the fiscal years ended December 31, |  | Amounts |
2024 |  |  | 2,206,569 |
2025 |  |  | 3,196,752 |
2026 |  |  | 395,107 |
2027 |  |  | 12,468,752 |
2028 |  |  | 48,064,350 |
|  |  | 66,331,529 |
Schedule of Taxes Payable | The Group’s taxes payable consists of the following:
|  | As of |
|  | December 31, 2022 |  |  | December 31, 2023 |
|  | RMB |  |  | RMB |  |  | US$ |
Income tax payable |  |  | 1,768,285 |  |  |  | 163,527 |  |  |  | 23,088 |
VAT and other taxes payable |  |  | 362,148 |  |  |  | 349,670 |  |  |  | 49,370 |
Total taxes payable |  |  | 2,130,433 |  |  |  | 513,197 |  |  |  | 72,458 |

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