SCHEDULE I-ADDITIONAL INFORMATION OF THE PARENT COMPANY (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| SCHEDULE I-ADDITIONAL INFORMATION OF THE PARENT COMPANY |
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| Schedule of condensed balance sheets |
| | | | | | | | | As of December 31, | | | 2024 | | 2025 | | | RMB | | RMB | | US$ | ASSETS | | | | | | | Current assets: | | | | | | | Cash and cash equivalents | | 654,351,902 | | 1,257,264,873 | | 179,786,486 | Short-term deposits | | 2,990,374,400 | | 246,008,000 | | 35,178,676 | Prepayments | | 70,446 | | 28,578 | | 4,087 | Other current assets | | 52,846,225 | | 8,593,267 | | 1,228,822 | Amounts due from subsidiaries | | — | | 351,440 | | 50,255 | Total current assets | | 3,697,642,973 | | 1,512,246,158 | | 216,248,326 | Investments in subsidiaries | | 550,081,329 | | 506,905,170 | | 72,486,476 | Total assets | | 4,247,724,302 | | 2,019,151,328 | | 288,734,802 | LIABILITIES | | | | | | | Current liabilities: | | | | | | | Accrued expenses and other current liabilities | | 36,531,297 | | 30,661,953 | | 4,384,602 | Amounts due to subsidiaries and VIEs | | 349,475 | | 341,716 | | 48,865 | Deferred revenue | | 754,304 | | 775,729 | | 110,928 | Total current liabilities | | 37,635,076 | | 31,779,398 | | 4,544,395 | Total liabilities | | 37,635,076 | | 31,779,398 | | 4,544,395 | Shareholders’ equity | | | | | | | Ordinary shares | | 20,360 | | 20,360 | | 2,911 | Treasury shares | | — | | — | | — | Additional paid-in capital | | 7,514,498,337 | | 5,363,717,087 | | 767,001,342 | Accumulated deficit | | (3,791,817,469) | | (3,820,899,394) | | (546,381,346) | Accumulated other comprehensive income | | 487,387,998 | | 444,533,877 | | 63,567,500 | Total shareholders’ equity | | 4,210,089,226 | | 1,987,371,930 | | 284,190,407 | TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | 4,247,724,302 | | 2,019,151,328 | | 288,734,802 |
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| Schedule of condensed statements of comprehensive income (loss) |
| | | | | | | | | | | Years ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | | US$ | General and administrative expenses | | (42,927,343) | | (38,585,122) | | (46,198,420) | | (6,606,286) | Equity loss of subsidiaries and VIEs | | (190,965,494) | | (502,190,943) | | (39,512,619) | | (5,650,230) | Other operating income (expenses), net | | 19,838,460 | | (7,317,312) | | 4,761,206 | | 680,843 | Interest income | | 249,448,848 | | 241,283,091 | | 51,867,908 | | 7,417,013 | Foreign exchange gain, net | | 123,163 | | — | | — | | — | Net income (loss) | | 35,517,634 | | (306,810,286) | | (29,081,925) | | (4,158,660) | Foreign currency translation adjustment | | 93,256,170 | | 72,141,058 | | (42,854,121) | | (6,128,058) | Comprehensive income (loss) | | 128,773,804 | | (234,669,228) | | (71,936,046) | | (10,286,718) |
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| Schedule of condensed statements of cash flows |
| | | | | | | | | | | Years ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | | US$ | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | Net income (loss) | | 35,517,634 | | (306,810,286) | | (29,081,925) | | (4,158,660) | Adjustments to reconcile net income (loss) to net cash provided by operating activities: | | | | | | | | | Equity loss of subsidiaries and VIEs | | 190,965,494 | | 502,190,943 | | 39,512,619 | | 5,650,230 | Foreign exchange gain or loss | | (123,163) | | — | | — | | — | Changes in operating assets and liabilities: | | | | | | | | | Prepayments | | 55,435 | | 127,357 | | 41,868 | | 5,987 | Other current assets | | (88,851,970) | | 62,701,861 | | 44,252,958 | | 6,328,090 | Amount due from subsidiaries | | — | | — | | (351,440) | | (50,255) | Accrued expenses and other current liabilities | | 15,719,885 | | (2,564,628) | | (5,869,344) | | (839,305) | Deferred revenue | | (11,583,600) | | (7,373,700) | | 21,425 | | 3,063 | CASH PROVIDED BY OPERATING ACTIVITIES | | 141,699,715 | | 248,271,547 | | 48,526,161 | | 6,939,150 | Proceeds from disposal of short-term bank deposits | | 2,098,625,000 | | 1,437,680,000 | | 3,264,831,200 | | 466,864,652 | Purchases of short-term investments | | (1,778,550,000) | | (2,990,374,400) | | (535,301,000) | | (76,547,025) | Investment in subsidiaries | | (16,196,850) | | — | | — | | — | CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | | 303,878,150 | | (1,552,694,400) | | 2,729,530,200 | | 390,317,627 | Repurchase of ordinary shares | | — | | (105,509,037) | | — | | — | Dividend distributed to shareholders | | — | | (2,101,465,492) | | (2,150,781,250) | | (307,557,628) | CASH USED IN FINANCING ACTIVITIES | | — | | (2,206,974,529) | | (2,150,781,250) | | (307,557,628) | Effect of foreign exchange rate changes | | 96,480,231 | | 49,348,465 | | (24,362,140) | | (3,483,740) | NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | | 542,058,096 | | (3,462,048,917) | | 602,912,971 | | 86,215,409 | CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | | 3,574,342,723 | | 4,116,400,819 | | 654,351,902 | | 93,571,077 | CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR | | 4,116,400,819 | | 654,351,902 | | 1,257,264,873 | | 179,786,486 |
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