v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2025
CNY (¥)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ 18,148,466 ¥ 127,561,937 ¥ 52,394,857 ¥ (266,199,240)
Adjustments to reconcile net loss to net cash (used in)/provided by operating activities:        
Depreciation and amortization 46,431 326,357 331,347 1,041,272
Credit losses 1,366,507 9,604,907 (4,897,513) (1,307,865)
Stock compensation expenses 119,618,420
Deferred tax (benefit)/expense (390) (2,740) 547,502 (2,666,911)
Loss/(Gain) from short-term investments-unrealized & realized (18,815,722) (132,251,950) (16,218,978) (124,104)
Loss from disposal of subsidiaries 54,718,523
Amortization of operating lease right-of-use assets 150,667 1,059,007 1,005,700 802,313
Impairment loss for goodwill 106,274,006
Impairment loss for long-lived assets 6,602,198
Change in operating assets and liabilities:        
Accounts receivables (2,827,420) (19,873,373) (702,759) (350,576)
Inventories 909,047
Prepaid services fees 219,795 1,544,892 (4,551,268) (22,566,719)
Other receivables and prepaid expenses (891,979) (6,269,544) 3,772,477
Prepaid expenses and deposits 2,353 16,536
Accounts payable 1,233,304 8,668,644 (2,337,683) 6,711,558
Deferred revenues 528,026 3,711,391 (6,963,049) (833,113)
Other payables and accrued liabilities 2,465,396 17,328,778 (52,194,764) 7,524,461
Operating lease liabilities (136,378) (958,574) (979,430) (984,005)
Taxes payable 992,411 6,975,456 5,369,351 137,252
Net cash (used in)/provided by operating activities 2,481,467 17,441,724 29,296,189 (45,412,006)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Loss of long-term investment 21 151
Proceeds from disposal of long-term investments 1,256,260
Proceeds from disposal/(Purchases) of property and equipment (1,159) (8,149) (28,641) 437,873
Purchases of short term investments (133,161,628) (935,966,450) (365,970,754) (18,411,162)
Redemption of short-term investments 11,340,599 79,710,800 251,017,894
Net cash (used in) investing activities (121,822,167) (856,263,648) (124,617,958) (16,717,029)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Loan to related party (1,086,012)
Loan to Parent (17,379,013)
Proceeds from Parent 37,461,686
Proceeds from bank borrowings 4,268,154 30,000,000 18,140,000 13,500,000
Payments to bank borrowings (2,134,077) (15,000,000) (16,640,000)
Proceeds from related party loans 25,591,431
Stock issuance 129,046,621
Issuance of convertible notes payable 151,807,471 1,067,024,350 696,956,634
Net cash provided by financing activities 153,941,548 1,082,024,350 809,038,230 76,553,117
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS (7,135,144) (50,151,501) 5,004,259 5,077,311
CHANGE IN CASH AND CASH EQUIVALENTS 27,465,702 193,050,925 718,720,720 19,501,393
CASH AND CASH EQUIVALENTS, at beginning of year 147,384,018 1,035,932,786 317,212,066 297,710,673
CASH AND CASH EQUIVALENTS, at end of year 174,849,720 1,228,983,711 1,035,932,786 317,212,066
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid for income taxes 2,283 16,049 105,845 235,198
Cash paid for interest 108,045 759,426 759,480 124,995
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 144,421 1,015,103 1,055,364 586,741
Shares converted from convertible notes payable $ 172,618,992 ¥ 1,213,304,369 ¥ 547,865,768