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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | (7) Leases Operating lease as lessor The Company has a non-cancellable agreement to lease plant to tenant under operating lease for 1 year from November 2023 to November 2024. The lease does not contain contingent payments. The rental income of the year was paid in advance by the tenant in December 2023. Operating lease as lessee The Company leases space under non-cancelable operating leases for plant and production equipment. The lease does not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the lease does not contain contingent rent provisions. The lease include option to renew in condition that it is agreed by the landlord before expiry. Therefore, the majority of renewals to extend the lease terms are not included in its right-of-use assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluate the renewal options and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term. As the Company’s leases do not provide an implicit rate, it uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The components of the Company’s lease expense are as follows:
|  | Year Ended |
|  | 2024 |
|  | RMB |
Operating lease cost |  |  | 100,004 |
Short-term lease cost |  |  | - |
Lease cost |  |  | 100,004 |
Supplemental cash flow information related to its operating lease was as follows for the period ended December 31, 2024:
|  | Year Ended |
|  | 2023 |
|  | RMB |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash outflow from operating lease |  |  | 139,113 |
Maturities of its lease liabilities for all operating lease are as follows as of December 31, 2024:
December 31, |  | Amount |
2025 |  |  | 139,113 |
2026 |  |  | 139,113 |
2027 |  |  | 139,113 |
2028 |  |  | 139,113 |
2029 |  |  | - |
Thereafter |  |  | - |
Total operating lease payments |  | $ | 556,452 |
Less: Interest |  |  | (79,701 | )
Present value of lease liabilities |  |  | 476,751 |
Less: current portion, record in current liabilities |  |  | (245,604 | )
Present value of lease liabilities |  |  | 231,147 |
The weighted average remaining lease terms and discount rates for all of its operating leases were as follows as of December 31, 2024:
|  | December 31, |
|  | 2024 |
Remaining lease term and discount rate: |  | RMB |
Weighted average remaining lease term (years) |  |  | 3.6 |
Weighted average discount rate |  |  | 7.56 | %

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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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