v3.26.1
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2025
Property and Equipment, Net [Abstract]  
Property and equipment, net
8. Property and equipment, net

 

Property and equipment, net consisted of the following:

 

   As of December 31, 
   2024   2025 
Cost:        
Buildings   184,813,833    184,813,835 
Electronic devices and other general equipment   4,220,664    4,338,116 
Leasehold improvements   3,118,069    2,558,798 
Total cost   192,152,566    191,710,749 
Less: Accumulated depreciation   (44,902,512)   (48,939,349)
Property and equipment, net   147,250,054    142,771,400 

 

Depreciation expense recognized for the years ended December 31, 2023, 2024 and 2025 were RMB6,128,680, RMB4,598,768 and RMB4,596,107. The net book amount of buildings pledged as collateral for the continuing operations’ borrowings (Note 15) as at December 31, 2024 and 2025 was RMB74,807,854 and RMB73,181,173, respectively. The net book amount of buildings pledged as collateral for the Lianwai School’s borrowings as at December 31, 2024 and 2025 was RMB2,881,608and RMB2,794,828, respectively. The net book amount of buildings pledged as collateral for the Lianwai Kindergarten’s borrowings as at December 31, 2024 and 2025 was RMB4,323,813 and RMB4,214,831, respectively.