Schedule of Income (Loss) Before Income Taxes and Share of Losses in Equity Method Investments |
(Loss)
Income before income taxes and share of losses in equity method
investments consists of:
| |
Year ended December 31, | |
| |
2022 | | |
2023 | | |
2024 | | |
2024 | |
| |
RMB | | |
RMB | | |
RMB | | |
USD | |
Mainland China | |
| (301,862,814 | ) | |
| 351,791,690 | | |
| 176,652,452 | | |
| 24,201,287 | |
Others | |
| (202,301,240 | ) | |
| 28,580,168 | | |
| 20,554,343 | | |
| 2,815,935 | |
Total | |
| (504,164,054 | ) | |
| 380,371,858 | | |
| 197,206,795 | | |
| 27,017,222 | |
|
Schedule of Consolidated Statements of Comprehensive Income (Loss) |
The current and deferred components of income
tax expense appearing in the consolidated statements of comprehensive income (loss) are as follows:
|
|
Year ended December 31, |
|
|
|
2022 |
|
|
2024 |
|
|
2024 |
|
|
2024 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
USD |
|
Current tax |
|
|
86,534,248 |
|
|
|
120,875,594 |
|
|
|
107,567,291 |
|
|
|
14,736,659 |
|
Deferred tax |
|
|
(130,607,150) |
|
|
|
(2,423,339 |
) |
|
|
(18,840,322 |
) |
|
|
(2,581,114 |
) |
Total |
|
|
(44,072,902 |
) |
|
|
118,452,255 |
|
|
|
88,726,969 |
|
|
|
12,155,545 |
|
|
Schedule of Deferred Income Tax Assets and Liabilities |
The principal components
of the Group’s deferred income tax assets and liabilities as of December 31, 2022, 2023 and 2024 are as follows:
| |
As of December 31 | |
| |
2023 | | |
2024 | | |
2024 | |
| |
RMB | | |
RMB | | |
USD | |
Deferred tax assets: | |
| | |
| | |
| |
Tax losses carryforward | |
| 156,003,878 | | |
| 125,063,028 | | |
| 17,133,565 | |
Allowance for accounts receivables and other current assets | |
| 10,241,904 | | |
| 10,863,499 | | |
| 1,488,293 | |
Allowance for non-current other assets | |
| 48,076,465 | | |
| 48,076,465 | | |
| 6,586,449 | |
Allowance for loans receivable | |
| 79,222,712 | | |
| 85,588,610 | | |
| 11,725,591 | |
Impairment of long-lived assets | |
| 17,466,327 | | |
| 13,073,472 | | |
| 1,791,059 | |
Lease liabilities | |
| 417,112,367 | | |
| 362,136,225 | | |
| 49,612,459 | |
Deferred revenue | |
| 83,228,802 | | |
| 75,722,666 | | |
| 10,373,963 | |
Accrued liabilities | |
| 19,373,529 | | |
| 19,542,973 | | |
| 2,677,376 | |
Unrealized losses from equity securities | |
| 1,342,225 | | |
| 1,638,899 | | |
| 224,528 | |
Investment in subsidiaries | |
| — | | |
| 2,775,000 | | |
| 380,173 | |
Valuation allowance | |
| (192,143,009 | ) | |
| (165,327,438 | ) | |
| (22,649,766 | ) |
Total deferred tax assets | |
| 639,925,200 | | |
| 579,153,399 | | |
| 79,343,690 | |
Deferred tax liabilities: | |
| | | |
| | | |
| | |
Property, plant and equipment | |
| (2,479,000 | ) | |
| (2,219,319 | ) | |
| (304,045 | ) |
Right-of-use assets | |
| (381,932,879 | ) | |
| (327,572,728 | ) | |
| (44,877,280 | ) |
Intangible assets arising from acquisition | |
| (75,820,498 | ) | |
| (47,872,112 | ) | |
| (6,558,452 | ) |
Unrealized gains from equity securities | |
| (1,939,227 | ) | |
| (1,805,008 | ) | |
| (247,285 | ) |
Investment in subsidiaries | |
| (30,504,731 | ) | |
| (33,595,045 | ) | |
| (4,602,503 | ) |
Total deferred tax liabilities | |
| (492,676,335 | ) | |
| (413,064,212 | ) | |
| (56,589,565 | ) |
|
Schedule of a Reconciliation of Unrecognized Tax Benefits |
Below is a tabular roll-forward
of the Group’s unrecognized tax benefits.
Unrecognized tax benefits —December 31, 2022 | |
| 257,300,164 | |
Increases — tax positions in the current period | |
| 61,493,198 | |
Decreases — tax positions in prior period | |
| (40,097,137 | ) |
Unrecognized tax benefits — December 31, 2023 | |
| 278,696,225 | |
Unrecognized tax benefits — January 1, 2024 | |
| 278,696,225 | |
Increases — tax positions in the current period | |
| 69,991,983 | |
Decreases — tax positions in prior period | |
| (32,266,665 | ) |
Unrecognized tax benefits — December 31, 2024 | |
| 316,421,543 | |
|