NOTE 3 — ACCOUNTS RECEIVABLE, NET | | | As of
December 31,
2025 | | | As of
June 30,
2026 | | | | | RMB | | | RMB | | | Accounts receivable | | | 59,552,803 | | | | 39,555,891 | | | Allowance for credit losses | | | (37,068,075 | ) | | | (37,063,175 | ) | | Accounts receivable, net | | | 22,484,728 | | | | 2,492,716 | | The following table presents movement of the allowance for credit losses: | | | For the Six Months
Ended June 30, | | | | | 2025 | | | 2026 | | | | | RMB | | | RMB | | | Balance at the beginning of the year/period | | | 38,352,201 | | | | 37,068,075 | | | Provisions (reversal) of expected credit losses | | | (43,641 | ) | | | (4,900 | ) | | Balance at the end of the year/period | | | 38,308,560 | | | | 37,063,175 | |
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