v3.26.3
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2026
Summary of Significant Accounting Policies [Abstract]  
Schedule of Fair Value Measurements

As of December 31, 2025 and June 30, 2026, the carrying values of current assets and current liabilities approximated their fair values reported in the consolidated balance sheets due to the short-term maturities of these instruments, except for the following.

 

Fair Value Measurements as of December 31, 2025
   

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Unobservable
Inputs

(Level 3)

   

Fair value

at

December 31,

2025

 
    RMB     RMB     RMB     RMB  
Cryptocurrencies     768,555,420                   768,555,420  
Receivable for cryptocurrencies collateral     20,387,316                   20,387,316  
Short-term investments     22,339,045       3,875,947             26,214,992  
Borrowings denominated in cryptocurrencies     11,948,960                   11,948,960  

   

Fair Value Measurements as of June 30, 2026
   

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Unobservable
Inputs

(Level 3)

   

Fair value

at June 30,

2026

 
    RMB     RMB     RMB     RMB  
Cryptocurrencies     368,767,278                          368,767,278  
Cryptocurrencies restricted     24,593,343                   24,593,343  
Short-term investments     3,718,561                   3,718,561  
Derivative assets                 41,704,830       41,704,830  
Borrowings denominated in cryptocurrencies     17,708,340                   17,708,340  
Schedule of Estimated Useful Lives of Property and Equipment Depreciation is calculated using the straight-line method over their estimated useful lives. The estimated useful lives are as follows:
Machinery and electronic equipment   3 to 10 years
Office furniture   5 years
Transportation equipment   4 years
Buildings and facilities attached to buildings   20 years
Schedule of Estimated Useful Lives of Intangible Assets The Company amortizes its franchise right and land use right on a straight-line basis over the contractual term. The estimated useful lives are as follows:
Franchise right   2 years
Land use right   50 years
Schedule of Net Revenues The following table summarizes the net revenues generated from different revenue streams:

 

    For the six months ended
June 30,
 
    2025     2026  
    (Unaudited)
RMB
    (Unaudited)
RMB
 
Product sales revenue     7,931,032       2,430,928  
Service revenue     352,341       347,450  
Net revenues     8,283,373       2,778,378  
Schedule of Net Revenues By Geographical Location of Customers

For the six months ended June 30, 2025 and 2026, the Company’s net revenues by geographical location of customers are as follows:

 

    For the six months ended
June 30,
 
    2025     2026  
    (Unaudited)     (Unaudited)  
    RMB     RMB  
PRC     5,462,221       2,454,426  
The United States     946,288       23,554  
Hong Kong     1,249,900        
The United Kingdom           168,352  
Others     624,964       132,046  
Net revenues     8,283,373       2,778,378