v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
 12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Cash flows from operating activities:        
Net income (loss) ¥ (29,081,925) $ (4,158,660) ¥ (306,810,286) ¥ 35,517,634
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Depreciation of property and equipment 1,916,747 274,091 6,285,907 6,014,868
Amortization of intangible assets 29,650,099 4,239,908 56,322,409 90,827,064
Operating lease expenses 10,928,009 1,562,684 14,501,864 24,187,908
Loss from the disposal of property and equipment 85,309 12,199 528,257 2,187,446
Provision (reversal) for allowance for credit losses (2,909,475) (416,049) (1,944,636) 11,809,161
Share of loss in equity method investments 1,927,859 275,680 4,001,129 31,610,752
Fair value change in long-term investments 65,200,488 9,323,546 (40,628,028)  
Impairment losses on investments 2,114,370 302,351 19,689,373 58,005,769
Impairment losses on other assets     13,742,897 12,755,822
Impairment of goodwill and intangible assets     61,679,245 13,966,789
Gain from disposal of investment in equity investees       (5,132,053)
Foreign exchange (gain) loss 517,288 73,971 (1,233,807) (125,893)
Changes in operating assets and liabilities:        
Accounts receivable (25,617,744) (3,663,289) 26,341,103 23,927,442
Prepayments 11,605,802 1,659,609 15,898,495 (10,364,572)
Other current assets (16,781,501) (2,399,723) 77,417,243 (16,200,082)
Other non-current assets 20,126,915 2,878,111 (15,542,056) (52,099,252)
Amounts due from related parties (17,426,110) (2,491,901) (5,180,912) (32,868,136)
Accounts payable 54,946,560 7,857,253 (44,723,288) (132,440,692)
Advances from customers (2,132,492) (304,943) (8,467,070) 9,659,281
Accrued expenses and other current liabilities (20,912,779) (2,990,488) (4,980,465) (56,200,218)
Amounts due to related parties (110,282,316) (15,770,161) (28,803,176) (61,150,253)
Deferred revenue (15,446,314) (2,208,793) (63,623,203) 21,246,496
Lease liabilities (10,683,606) (1,527,735) (13,322,931) (22,822,500)
Net cash used in operating activities (52,254,816) (7,472,339) (238,851,936) (47,687,219)
Cash flows from investing activities:        
Proceeds on disposal of property and equipment 347,151 49,642 976,059 103,155
Purchases of property and equipment (290,883) (41,595) (709,859) (5,156,302)
Purchases of intangible assets (1,498,898) (214,340) (12,411,832) (11,146,423)
Purchases of short-term bank deposits (575,301,000) (82,266,949) (2,990,374,400) (1,778,550,000)
Purchases of long-term bank deposits       (760,000,000)
Proceeds from disposal of short-term bank deposits 3,528,507,441 504,569,853 1,757,680,000 2,868,625,000
Proceeds from disposal of long-term bank deposits 20,000,000 2,859,962 170,000,000 80,000,000
Proceeds from disposal of and return of investments 36,482 5,217 347,304 10,309,198
Repayment of loan from related parties       10,000,000
Cash provided by (used in) investing activities 2,971,800,293 424,961,790 (1,074,492,728) 414,184,628
Cash flows from financing activities        
Return of capital to non-controlling interests       (965)
Dividend distributed to shareholders (2,150,781,250) (307,557,628) (2,101,465,492)  
Repurchase of ordinary shares     (105,509,037)  
Cash used in financing activities (2,150,781,250) (307,557,628) (2,206,974,529) (965)
Effect of foreign exchange rate changes on cash and cash equivalents (24,966,731) (3,570,196) 48,740,158 94,834,375
Net increase (decrease) in cash, cash equivalents and restricted cash 743,797,496 106,361,627 (3,471,579,035) 461,330,819
Cash, cash equivalent and restricted cash at the beginning of the year 1,037,411,283 148,347,841 4,508,990,318 4,047,659,499
Cash, cash equivalent and restricted cash at the end of the year 1,781,208,779 254,709,468 1,037,411,283 4,508,990,318
Supplemental disclosure of cash flow information:        
Income tax paid 28,358,914 4,055,271 10,285,869 436,767
Supplemental disclosure on non-cash investing and financing activities:        
Accrued purchases of property and equipment       13,826
Accrued purchases of intangible assets ¥ 822,736 $ 117,650 ¥ 896,226 ¥ 45,754,717