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Prepaid Expenses and Other Current Assets, Net

12 Months Ended

Dec. 31, 2023

Prepaid Expenses and Other Current Assets, Net [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

Prepaid expenses and other current assets consisted of the following:

	As of
	December 31,			December 31,
	2022			2023
	RMB			RMB			US$
Advanced to suppliers (a)		2,222,046			1,602,310			226,229
Tax refund (b)		1,924,536			-			-
Deposits (c)		6,238,305			9,644,591			1,361,711
Tax/expenses paid on behalf of clients		413,304			3,182,361			449,315
Loan & interest receivable (d)		-			3,845,273			542,911
Other receivables (e)		1,650,503			3,212,790			453,610
		12,448,694			21,487,325			3,033,776
Allowance for credit losses related to prepaid expenses and other current assets		(237,704	)		(8,973,447	)		(1,266,953	)
Total prepaid expenses and other receivables, net		12,210,990			12,513,878			1,766,823

(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. The Group has recorded 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.

(d)

The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. Refer to Note 8 for details.

(e)

The balance mainly represents the prepaid taxes and some advances to employees.

The movement of allowance of doubtful accounts is as follows:

	As of
	December 31,			December 31,
	2022			2023
	RMB			RMB			US$
Beginning balance		4,744,565			237,704			33,561
Addition		237,704			8,761,236			1,236,992
Write off		(4,744,565	)		(25,493	)		(3,600	)
Ending balance		237,704			8,973,447			1,266,953

The Group recorded bad debt expenses of nil, RMB237,704 and RMB8,761,236 (US$1,236,992) for the years ended December 31, 2021, 2022 and 2023, respectively. For the year ended December 31, 2021, 2022 and 2023, the Group had write off nil, RMB4,744,565 and RMB25,493(US$3,600) in bad debt, respectively.