PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION |
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| Schedule of condensed balance sheets |
| | | | | | | As of December 31, | | | 2024 | | 2025 | | | RMB | | RMB | Assets | | | | | Current assets | | | | | Cash and cash equivalents | | 40,441,814 | | 48,651,480 | Term deposits | | 68,289,800 | | — | Restricted cash | | 215,652,000 | | 210,864,000 | Prepayments and other current assets | | 13,518,861 | | 10,497,711 | | | | | | Total current assets | | 337,902,475 | | 270,013,191 | | | | | | Non-current assets | | | | | Investment in and amount due from subsidiaries, consolidated VIE and VIE’s subsidiaries | | 600,596,446 | | 642,812,016 | | | | | | Total assets | | 938,498,921 | | 912,825,207 | | | | | | Liabilities | | | | | Current liabilities | | | | | Amount due to subsidiaries, consolidated VIE and VIE’s subsidiaries | | 4,632,432 | | 4,529,580 | Accrued expenses and other current liabilities | | 2,584,269 | | 3,364,323 | | | | | | Total current liabilities and total liabilities | | 7,216,701 | | 7,893,903 | | | | | | Shareholders’ equity: | | | | | Class A ordinary shares | | 90,549 | | 91,796 | Class B ordinary shares | | 10,316 | | 9,504 | Additional paid-in capital | | 1,988,638,160 | | 2,016,533,709 | Accumulated other comprehensive loss | | (3,129,362) | | (17,990,674) | Accumulated deficit | | (1,054,327,443) | | (1,093,713,031) | | | | | | Total shareholders’ equity | | 931,282,220 | | 904,931,304 | | | | | | Total liabilities and shareholders’ equity | | 938,498,921 | | 912,825,207 |
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| Schedule of condensed statements of results of operations |
| | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Total operating expenses | | (17,739,201) | | (13,025,259) | | (12,321,808) | Share of loss from subsidiaries, consolidated VIE and VIE’s subsidiaries | | (270,498,551) | | (195,199,614) | | (36,346,156) | Interest income | | 16,401,770 | | 15,024,234 | | 9,282,376 | Loss before income taxes | | (271,835,982) | | (193,200,639) | | (39,385,588) | Income tax expense | | — | | — | | — | | | | | | | | Net loss | | (271,835,982) | | (193,200,639) | | (39,385,588) |
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| Schedule of condensed statements of cash flows |
| | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Net cash provided by (used in) operating activities | | 14,392,402 | | (177,106) | | 1,448,176 | Net cash provided by (used in) investing activities | | 133,818,900 | | (89,689,320) | | 7,644,080 | Net cash provided by financing activities | | 654,023 | | 267,335 | | 164,587 | Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash | | 4,034,789 | | 4,212,517 | | (5,835,177) | | | | | | | | Net increase (decrease) in cash, cash equivalents and restricted cash | | 152,900,114 | | (85,386,574) | | 3,421,666 | | | | | | | | Cash, cash equivalents and restricted cash at the beginning of the year | | 188,580,274 | | 341,480,388 | | 256,093,814 | | | | | | | | Cash, cash equivalents and restricted cash at the end of the year | | 341,480,388 | | 256,093,814 | | 259,515,480 |
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