| Summary of financial assets and liabilities measured at fair value on a recurring basis |
| | | | | | | | | | | As of December 31, 2024 | | | Active market | | Observable | | Non-observable | | | | | (Level 1) | | input (Level 2) | | input (Level 3) | | Total | | | RMB | | RMB | | RMB | | RMB | Assets: | | | | | | | | | Short-term investments | | 1,091,582,140 | | 26,965,315 | | — | | 1,118,547,455 | Long-term investments without readily determinable fair value using NAV practical expedient1 | | — | | — | | — | | 15,163,357 | Liabilities: | | | | | | | | | Derivative instruments | | — | | 89,894,630 | | — | | 89,894,630 |
| | | | | | | | | | | As of December 31, 2025 | | | Active market | | Observable | | Non-observable | | | | | (Level 1) | | input (Level 2) | | input (Level 3) | | Total | | | RMB | | RMB | | RMB | | RMB | Assets: | | | | | | | | | Short-term investments | | 768,234,872 | | 110,989,920 | | — | | 879,224,792 | Long-term investments without readily determinable fair value using NAV practical expedient1 | | — | | — | | — | | 14,700,093 | Derivative instruments | | — | | 113,191,365 | | — | | 113,191,365 | Liabilities: | | | | | | | | | Derivative instruments | | — | | 52,011,906 | | — | | 52,011,906 |
| | | | | | | | | | | As of December 31, 2025 | | | Active market | | Observable | | Non-observable | | | | | (Level 1) | | input (Level 2) | | input (Level 3) | | Total | | | US$ | | US$ | | US$ | | US$ | Assets: | | | | | | | | | Short-term investments | | 109,856,126 | | 15,871,348 | | — | | 125,727,473 | Long-term investments without readily determinable fair value using NAV practical expedient1 | | — | | — | | — | | 2,102,085 | Derivative instruments | | — | | 16,186,150 | | — | | 16,186,150 | Liabilities: | | | | | | | | | Derivative instruments | | — | | 7,437,604 | | — | | 7,437,604 |
1 Investments are measured at fair value using NAV as a practical expedient. These investments have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
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