v3.25.1
Summary of Principal Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Summary of Principal Accounting Policies [Abstract]  
Schedule of Property and Equipment Net, Useful Lives Depreciation of property, plant and equipment is provided using the straight-line method over the following expected useful lives:
Leasehold improvements  Over the shorter of the lease term or estimated useful lives
Buildings and plants  20 years
Furniture, fixtures and equipment  3-5 years
Motor vehicles  5 years
Schedule of Amortization of Intangible Assets, Estimated Useful Lives

Amortization is computed using the straight-line method over the following estimated useful lives:

 

Finite-lived trademarks  10 years
Technology  10 years
Network rights  10 years
Purchased software  5-10 years
Reacquired rights  the remaining franchise term
Schedule of Financial Assets and Liabilities Measured

The following table summarizes the Group’s financial assets and liabilities measured and recorded at fair value as of December 31, 2023 and 2024 on a recurring basis:

 

       Fair Value Measurements at Reporting Date Using 
       Quoted Prices         
       in Active   Significant     
       Markets for   Other   Significant 
   As of   Identical   Observable   Unobservable 
   December 31,   Assets   Inputs   Inputs 
Description  2023   (Level 1)   (Level 2)   (Level 3) 
Short-term investments                
Wealth management products   287,711,617    
—
    287,711,617    
—
 
Investments in equity securities                    
Equity securities with readily determinable fair value   26,076,169    26,076,169    
—
    
—
 
Long-term investments                    
Equity securities with readily determinable fair value   38,324,789    38,324,789    
—
    
—
 
Available-for-sale debt investment   103,703,272    
—
    
—
    103,703,272 
Total   455,815,847    64,400,958    287,711,617    103,703,272 

 

       Fair Value Measurements at Reporting Date Using 
       Quoted Prices         
       in Active   Significant     
       Markets for   Other   Significant 
   As of   Identical   Observable   Unobservable 
   December 31,   Assets   Inputs   Inputs 
Description  2024   (Level 1)   (Level 2)   (Level 3) 
Short-term investments                
Wealth management products   10,475    
—
    10,475    
—
 
Long-term investments                    
Equity securities with readily determinable fair value   28,355,681    28,355,681    
—
    
—
 
Available-for-sale debt investment   103,709,272    
—
    
—
    103,709,272 
Total   132,075,428    28,355,681    10,475    103,709,272 
Schedule of Reconciliations of Assets and Liabilities

Reconciliations of assets and liabilities categorized within Level 3 under the fair value hierarchy are as follows:

 

   Available-for- 
   sale debt 
   investment 
January 1, 2023   103,706,206 
Net unrealized fair value change recognized in other comprehensive (loss) income   (2,934)
December 31, 2023   103,703,272 
Net unrealized fair value change recognized in other comprehensive (loss) income   6,000 
December 31, 2024   103,709,272 
December 31, 2024 (USD)   14,208,112 
Schedule of Significant Unobservable Inputs

Significant Unobservable Inputs

 

      Inputs   Inputs 
      as of 
December 31,		   as of 
December 31,		 
Financial Assets  Unobservable Input  2023   2024 
Available-for-sale debt investment  WACC   12%   11%
   Discount for lack of marketability   35%   39%
   Expected volatility   36%   43%