v3.26.3
Derivative Assets
 6 Months Ended
Jun. 30, 2026
Derivative Assets [Abstract]  
Derivative assets

7. Derivative assets

 

The following table presents changes in the estimated fair value of the derivative assets:

 

    Fair value
of
Derivative
Assets		  
    RMB  
Balance as of January 1, 2026     —  
Addition     64,936,216  
Change in fair value       (2,767,854 )
Deletion due to settlement     (19,959,688 )
Foreign currency translation adjustment     (503,844 )
Balance as of June 30, 2026     41,704,830  

 

The Company estimated the fair value of the derivative contracts with the assistance of an independent valuation specialist using the Monte-Carlo model. Significant input to the model includes the price volatility of BNB. For the six months ended June 30, 2026, the price volatility of BNB ranges from 48.67% to 54.85%.