| Schedule of Accounts Receivable, Net |
Accounts receivable, net is comprised of the following:
| | |
As of December 31, | |
| | |
2023 | | |
2024 | | |
2024 | |
| | |
RMB | | |
RMB | | |
USD | |
| | |
| | |
| | |
| |
| Receivables from franchise and managed hotels | |
| 82,023,109 | | |
| 78,125,555 | | |
| 10,703,157 | |
| Receivables from third-party merchandisers for sublease rental | |
| 23,923,294 | | |
| 11,325,847 | | |
| 1,551,635 | |
| Receivable from individual and corporate customers and travel agents | |
| 13,872,840 | | |
| 7,392,616 | | |
| 1,012,784 | |
| Receivables from distributors, supermarkets and franchise and managed restaurants | |
| 7,600,652 | | |
| 8,489,793 | | |
| 1,163,097 | |
| Less: allowances for credit losses | |
| (3,532,016 | ) | |
| (5,645,777 | ) | |
| (773,468 | ) |
| Total | |
| 123,887,879 | | |
| 99,688,034 | | |
| 13,657,205 | |
|
| Schedule of Movements in Allowance for Credit Losses |
The movements in the allowance
for credit losses were as follows:
| | |
2023 | | |
2024 | |
| | |
RMB | | |
RMB | | |
USD | |
| Balance of the beginning of the year | |
| 8,840,708 | | |
| 3,532,016 | | |
| 483,884 | |
| Effect on the opening balance of adoption of ASU 2016-03 | |
| 1,504,518 | | |
| — | | |
| — | |
| Provision | |
| 12,377,993 | | |
| 22,708,804 | | |
| 3,111,093 | |
| Write-off | |
| (19,191,203 | ) | |
| (20,595,043 | ) | |
| (2,821,509 | ) |
| Balance of the end of the year | |
| 3,532,016 | | |
| 5,645,777 | | |
| 773,468 | |
|