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 loss ¥ (130,931,921) $ (18,723,015) ¥ (37,365,434) ¥ (36,949,421)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation of property and equipment 149,307 21,351 134,510 112,092
Change in expected credit losses (240,982) (34,460) 841,683 1,488,459
Allowance for inventory 1,883,635 269,355 494,459 503,079
Share base payment 16,423,683 2,348,555
Impairment loss on long-lived assets 2,108,517 301,514 2,238,525 1,107,027
Impairment loss on long-term investment 500,000
Gain/(Loss) on disposal of property and equipment (3,893)
Changes in operating assets and liabilities:        
Accounts receivable (10,099,387) (1,444,193) 20,309,367 (1,273,526)
Accounts receivable – a related party (407,177) (58,226) (424,259)
Amount due from related parties 1,995,948 285,417 (3,229,309) 831,665
Inventories (997,807) (142,684) 3,033,987 (5,001,966)
Other receivables (57,924,742) (8,283,128) (210,043) (4,011,854)
Advances to suppliers 249,971 35,745 1,950,808 (53,696)
Other non-current assets 86,900 12,427 (281,632) (171,874)
Accounts payable 19,493,416 2,787,521 (16,254,687) (1,627,218)
Accounts payable – a related party (18,595) (2,659) (88,034) (30,908)
Salary and welfare payable (897,562) (128,350) 149,452 (3,400,663)
Advance from customers (164,915) (23,583) 512,618 (1,489,222)
Value added tax (“VAT”) and other tax payable (156,479) (22,376) 601,150 (115,371)
Other payables 1,300,394 185,954 3,391,790 (3,001,148)
Accrued liabilities 4,867,692 696,071 (82,393) (96,449)
Amount due to related parties 9,137,854 1,306,696 7,145,948 8,879,617
Operating lease liabilities (2,256,846) (322,725) (1,076,049) (1,994,305)
Refund liability (2,080,556) (297,516) 2,080,556
Net cash used in operating activities (148,479,652) (21,232,309) (16,130,880) (45,795,682)
Cash flows from investing activities:        
Payment for purchase of property and equipment (1,007,753) (144,107) (37,773) (111,891)
Payment for other noncurrent assets (600,000) (85,799)
Proceeds from disposal of property and equipment 4,400
Net cash used in investing activities (1,607,753) (229,906) (33,373) (111,891)
Cash flows from financing activities:        
Loans from related parties 24,778,594 3,543,292 15,301,351 104,430,113
Repayment to related parties (23,702,159) (3,389,364) (25,047,012) (64,460,091)
Proceeds from short-term bank loans 56,000,000 8,007,893 44,100,000 28,000,000
Repayment of short-term bank loans (37,958,333) (5,427,969) (31,141,667) (15,664,494)
Proceeds from long-term bank loans 7,000,000 1,000,987 6,000,000 3,000,000
Repayment of long-term bank loans (1,000,000) (142,998) (847,295)
Repayment of long-term loans (119,500) (17,088) (391,667) (470,272)
Loans from third parties 2,951,275 422,027 19,856,630 1,124,048
Repayment to third parties (13,892,252) (1,986,566) (10,814,260) (3,615,200)
Proceeds from IPO 163,932,614 23,442,052
Payment for deferred offering cost (24,063,528) (3,441,039) (2,276,926)
Net cash provided by financing activities 153,926,711 22,011,227 17,016,080 50,067,178
Effect of exchange rate changes (1,910,634) (273,217) (5,231)
Net increase in cash and cash equivalents and restricted cash 1,928,672 275,796 846,596 4,159,605
Cash and cash equivalents and restricted cash at beginning of the year 7,651,695 1,094,178 6,805,099 2,645,494
Cash and cash equivalents and restricted cash at end of the year 9,580,367 1,369,974 7,651,695 6,805,099
Including:        
Cash and cash equivalents at beginning of the year 7,651,695 1,094,178 6,717,031 2,485,598
Restricted cash at beginning of the year 88,068 159,896
Including:        
Cash and cash equivalents at end of the year 9,580,367 1,369,974 7,651,695 6,717,031
Restricted cash at end of the year 88,068
Supplemental disclosures of cash flows information:        
Cash paid for income tax
Cash paid for interest expense 2,703,601 386,610 2,744,793 2,388,025
Supplemental disclosure of noncash investing and financing activities:        
Property and equipment acquired by assuming a long-term loan 640,000
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities 2,035,277 291,041 2,200,752 1,063,104
Conversion of convertible redeemable preferred shares into Class A ordinary shares upon IPO 1,668,974,247 238,660,143
Conversion of convertible redeemable non-controlling interest into non-controlling interest upon IPO 176,397,261 25,224,473
Reclassification of deferred offering costs to additional paid-in capital 29,129,441 4,165,455
Expensed of deferred offering costs before IPO 1,624,680 232,326
Net off deferred offering costs to other payable ¥ 747,087 $ 106,832