Digital Assets (Tables)

6 Months Ended

Jun. 30, 2026

Digital Assets [Abstract]

Schedule of Reconciliation of Opening and Closing Balances of Digital Assets

The following table presents a reconciliation of the opening and closing balances of the Company’s digital assets, including purchases and unrealized gains or losses:

		Digital Assets Carrying Value				Approximate Number of Bitcoins Held
		RMB

Balance at December 31, 2024			-				-
Digital assets increase			804,579,371				1,236
Digital assets decrease			(35,705,995	)			(55	)
Unrealized gain on digital assets⁽ⁱ⁾			(38,723,236	)			-
Balance at December 31, 2025			730,150,140				1,181
Digital assets increase			968,892,722				2,341
Digital assets decrease⁽ⁱⁱ⁾			(368,006,398	)			(623	)
Unrealized loss on digital assets			(232,541,989	)			-
Balance at June 30, 2026			1,098,494,475				2,899

(i)	Unrealized gain on digital assets is included in Unrealized gain/(loss) on digital assets on the Unaudited Consolidated Statements of Operations.

(ii)	The decrease in digital assets includes 601 bitcoins applied in settlement of RMB 345.4 million (US$50.7 million) secured borrowings.

Schedule of Summarizes the Company’s Digital Assets

The following table summarizes the Company’s digital assets holdings as of the dates indicated:

		As of December 31,				As of June 30,
		2025				2026
		RMB				RMB
Digital assets cost basis			768,873,376				1,331,036,464
Digital assets fair value			730,150,140				1,098,494,475
Unrealized loss on digital assets			38,723,236				232,541,989