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Condensed Financial Information of the Parent Company

12 Months Ended

Dec. 31, 2023

Condensed Financial Information of the Parent Company [Abstract]

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

20. 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, 2022 and 2023.

Condensed balance sheets

		As of December 31,				As of December 31
		2022				2023
		RMB				RMB				US$
Assets
Current assets
Cash			-				572,709				80,860
Due from subsidiaries			-				22,494,815				3,176,023
Total current assets			-				23,067,524				3,256,883

Non-current assets
Investments in subsidiaries			33,325,657				-				-
Total assets			33,325,657				23,067,524				3,256,883

Non-current liabilities
Due to shareholders			-				839,730				118,561
Deficit of investment in subsidiaries			-				40,283,193				5,687,547
Total liabilities			-				41,122,923				5,806,108

Shareholders’ equity
Class A Ordinary shares (par value of US$0.0001 per share;480,000,000 Class A ordinary shares authorized and 13,590,400 and 14, 942,623 Class A ordinary shares issued and outstanding as of December 31, 2022 and 2023, respectively.)			8,830				9,787				1,382
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, 2022 and 2023, respectively.)			4,087				4,087				577
Additional paid-in capital			72,691,813				60,423,647				8,531,160
Subscription receivable			（34,823,000)				-				-
Statutory reserves			4,651,141				502,941				71,010
Retained earnings (Accumulated deficit)			(9,025,668	)			(77,454,208	)			(10,935,689	)
Accumulated other comprehensive income			(181,546	)			(1,541,653	)			(217,665	)
Total shareholders’ equity/ (deficit)			33,325,657				(18,055,399	)			(2,549,225	)
Total liabilities and shareholders’ equity/ (deficit)			33,325,657				23,067,524				3,256,883

Condensed statements of comprehensive income

		For the years ended December 31,
		2021				2022				2023
		RMB				RMB				RMB				US$

Operating income (loss):
Share of income (loss) from subsidiaries			10,305,308				3,888,723				(69,491,719	)			(9,811,474	)
Total operating income/ (loss)			10,305,308				3,888,723				(69,491,719	)			(9,811,474	)

General and administrative expenses											(3,085,021	)			(435,571	)
Total operating expenses											(3,085,021	)			(435,571	)

Income (loss) before income tax expense			10,305,308				3,888,723				(72,576,740	)			(10,247,045	)
Income tax expense							-				-				-
Net income (loss)			10,305,308				3,888,723				(72,576,740	)			(10,247,045	)

Other comprehensive income (loss)			10,158				(200,146	)			(1,360,105	)			(192,032	)
Total comprehensive income (loss)			10,315,466				3,688,577				(72,576,740	)			(10,247,045	)

Condensed statements of cash flows

		For the years ended December 31,
		2021				2022				2023
		RMB				RMB				RMB				US$
Cash flows from operating activities:
Net income (loss)			10,305,308				3,888,723				(72,576,740	)			(10,247,045	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in (gain) loss of subsidiaries			(10,305,308	)			(3,888,723	)			69,491,719				9,811,474
Net cash used in operating activities			-				-				(3,085,021	)			(435,571	)

Net cash from investing activities:
Investment in subsidiaries			-				-				(37,191,258	)			(5,251,000	)
Net cash used in investing activities			-				-				(37,191,258	)			(5,251,000	)

Net cash from financing activities:
Proceeds from shares issued			-				-				73,133,125				10,325,600
Increase in due from subsidiaries			-				-				(26,344,560	)			(3,719,565	)
Payments for deferred offering costs			-				-				(7,355,544	)			(1,038,523	)
Proceeds from loans provided by shareholders			-				-				839,730				118,561
Net cash provided by financing activities			-				-				40,272,752				5,686,074

Net decrease in cash			-				-				(3,527	)			(498	)
Effect of exchange rate changes											576,236				81,358
Cash at beginning of year			-				-				-				-
Cash at end of year			-				-				572,709				80,860