Accounts receivable, net

6 Months Ended

Jun. 30, 2026

Note 3 — Accounts receivable, net

Accounts receivable, net consisted of the following:


		As of		As of		As of
		December 31,		June 30,		June 30,
		2025		2026		2026
		RMB		RMB		US$
Accounts receivable – third parties		7,146,902		8,337,549		1,228,803
Less: allowance for credit losses		(887,898)		(2,318,007)		(341,632)
Accounts receivable, net		6,259,004		6,019,542		887,171

The following table presents the movements in the allowance for credit losses on accounts receivable for each of the two periods ended June 30, 2026:


		As o		As of		As of
		December 31,		June 30,		June 30,
		2025		2026		2026
		RMB		RMB		US$
Allowance for credit losses at beginning of the period		102,200		887,898		130,860
Additions charged to expense		785,698		1,430,109		210,772
Allowance for credit losses at end of the period		887,898		2,318,007		341,632

Expected credit losses for the six months ended June 30, 2025 and 2026 amounted to RMB1,550,481 and RMB1,430,109 (US$210,772), respectively.

As of December 31, 2025 and June 30, 2026, the aging of accounts receivable based on the services provided were as follows: