Bank borrowings |
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| Bank borrowings | Note 8 — Bank borrowings
Bank borrowings include the followings:
The total outstanding bank borrowings were RMB 30,000,000 and RMB 30,000,000 (USD 4,404,704) as of December 31, 2025 and June 30, 2026. During the six months ended June 30, 2026, the Company received the bank borrowings with the amount of RMB 25,000,000 (USD 3,670,587) and repaid the bank borrowings with the amount of RMB 25,000,000 (USD 3,670,587). All bank borrowings are secured and are working capital loans under revolving credit facilities, each with a maturity term not exceeding 12 months, for daily operational needs. The loans bear interest at floating rates. All loans will be paid off before July 2027.
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