v3.26.3
Unaudited Interim Condensed Consolidated Statements of Cash Flows
6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2026
CNY (¥)
Jun. 30, 2025
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income/(loss) $ (27,908,571) ¥ (190,082,478) ¥ 126,273,050
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 277,492 1,889,970 3,863,369
(Reversal of)/Allowance for credit losses 667,730 4,547,840 (258,607)
Write off of prepaid service fee 6,733 45,857
Stock compensation expenses 22,189,939
Deferred tax expense 21,524 146,597
(Gain)/Loss from short-term investments-realized and unrealized 26,470,199 180,285,879 (17,572,860)
Loss from disposal of property, plant and equipment 1,655 11,274
Gain from deconsolidation of subsidiaries (12,296,928)
Amortization of operating lease right-of-use assets 68,313 465,271 544,125
Loss from long-term investments 1,611 10,972
Change in operating assets and liabilities:      
Accounts receivables 2,662,441 18,133,622 454,689
Prepaid services fees (1,587,269) (10,810,729) (889,985)
Other receivables and prepaid expenses (2,343,840) (15,963,660) (23,379,909)
Accounts payable (869,869) (5,924,592) (2,530,033)
Other payables and accrued liabilities (2,837,974) (19,329,160) 116,532,295
Advance from customers 3,838,846 26,145,995 (974,415)
Operating lease liabilities (74,688) (508,691) (529,788)
Taxes payable 261,939 1,784,042 2,244,422
Net cash provided by (used in) operating activities (1,343,728) (9,151,991) 213,669,364
CASH FLOWS FROM INVESTING ACTIVITIES:      
Sale of short-term investments 28,175,965 191,903,680 164,525,845
Purchases of property, plant and equipment (4,956)
Purchases of short-term investments (13,600,000) (92,628,240) (528,662,610)
Cash received from disposal of subsidiary 2,977,491
Net cash (used in)/ provided by investing activities 14,575,965 99,275,440 (361,164,230)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term loan – banking facility 3,670,587 25,000,000 25,000,000
Payments to banking facility (3,670,587) (25,000,000) (10,000,000)
Cash received from issuance of shares to noncontrolling interests 775,558,013
Issuance of convertible notes 263,436,480
Net cash provided by financing activities 1,053,994,493
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS (7,794,319) (53,086,330) (17,020,862)
CHANGE IN CASH AND CASH EQUIVALENTS 5,437,918 37,037,119 889,478,765
CASH AND CASH EQUIVALENTS, beginning of period 192,922,625 1,313,976,706 1,070,513,011
CASH AND CASH EQUIVALENTS, end of period 198,360,543 1,351,013,825 1,959,991,776
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for income taxes 490 3,337 11,613
Cash paid for interest 59,477 405,092 759,480
NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Operating lease right-of-use assets obtained in exchange for Operating lease liabilities 102,259 696,474
Shares converted from convertible notes payable ¥ 897,330,510