v3.26.1
Loans from Third Parties
 12 Months Ended
Dec. 31, 2025
Loans from Third Parties [Abstract]  
LOANS FROM THIRD PARTIES

Note 11 — LOANS FROM THIRD PARTIES

 

As of December 31, 2025    Balance   Maturity
Date		  Effective
Interest
Rate		  Collateral/
Guarantee
     RMB   US$          
Short-term loans from third parties(a)     610,637    87,320   Due on demand  N/A  N/A

 

As of December 31, 2025  Balance   Maturity
Date		  Effective
Interest
Rate		  Collateral/
Guarantee
   RMB   US$          
Long-term loans from third parties, noncurrent                 
Ping Fang(b)   2,000,582    286,079   December 31, 2027  RMB16,000 per month (approximately 9.6% per annum)  N/A

 

As of December 31, 2025  Balance   Maturity
Date		  Effective
Interest
Rate		  Collateral/
Guarantee
   RMB   US$          
Long-term loans from third parties, current                 
Xueyi Xie(c)   200,000    28,600   December 31, 2026  N/A  N/A

 

As of December 31, 2024    Balance   Maturity
Date		  Effective
Interest
Rate		  Collateral/
Guarantee
     RMB          
Short-term loans from third parties(a)     6,905,558   Due on demand 
N/A
  Partially guaranteed by Zhenyang Shi and Li Xu
      4,646,056   From January to August 2025  From 0% to 18%  Partially Guaranteed by Zhenyang Shi
Total     11,551,614          

F-38

As of December 31, 2024  Balance   Maturity
Date		  Effective
Interest
Rate		  Collateral/
Guarantee
   RMB          
Long-term loans from third parties, current             
Ping Fang   2,000,582   August 31, 2025  RMB16,000 per month (approximately 9.6% per annum)  Guaranteed by three related parties, including Dexiang Wei, Guoji Luo, Yongan Zhong and one management of the Group
Haiming Luo   119,500   February 28, 2025, monthly pay RMB8,333  RMB6,000 per month  Guaranteed by three related parties, including Dexiang Wei, Guoji Luo, Yongan Zhong and one management of the Group
Xueyi Xie   200,000   December 31, 2025  N/A  N/A
Total   2,320,082          
(a)For the years ended December 31, 2024 and 2025, the Group entered into various loans agreements with individuals for an aggregated amount of RMB19,856,630 and RMB 2,951,275 (US$422,027), respectively, to facilitate its business operations. During the years ended December 31, 2024 and 2025, the Group did not fully repay the loans which were due on demand, and these entity and individuals may request the Group to repay the loan at any time.
  
(b)The loan was renewed in 2025 with maturity date of December 31, 2027.
  
(c)The loan was renewed in 2025 with maturity date of December 31, 2026.

 

Interest expenses of the loans from third parties for the years ended December 31, 2023, 2024 and 2025 amounted to RMB946,461, RMB623,866 and RMB799,239 (US$114,290) respectively.

 

As of December 31, 2025, the Group’s future obligations for the loans from third parties according to the terms of the loans are as follows:

 

For the Years ending December 31,  RMB   US$ 
2026   1,002,637    143,375 
2027   2,192,582    313,535 
Total future loan payments   3,195,219    456,910 
Less: Imputed interest   384,000    54,911 
Total loans from third parties   2,811,219    401,999