v3.26.1
Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (37,839,393) $ (5,383,478) ¥ (55,509,547) ¥ (80,275,344)
Adjustments to reconcile net loss to net cash used in operating activities:        
Provision for / (reversal of) credit losses (1,189,516) (169,235) 9,450,681 18,216,749
Lease termination loss (gain) (99,388) (14,140) (1,945,824) 478,933
Depreciation and amortization 541,558 77,048 750,688 1,131,796
Amortization of operating lease right-of-use asset 1,374,121 195,499 3,610,106 9,405,893
Losses from disposal of property, equipment and software 207 29 719,165
Impairment losses of property and equipment 1,990,126 283,139 2,404,009
Impairment losses of operating lease right-of-use assets 698,118 99,322 3,244,676
Share-based compensation expenses 14,005,587 1,992,600
Service fee settled by share issuance 86,260
Share of (income) / loss of equity method investees, net of tax of nil 41,897 5,961 (427,493)
Gain from disposal of subsidiaries (6,574) (935) (459,116)
Deferred tax benefit (510,709) (72,659) (804,312) (2,907,145)
Changes in operating assets and liabilities        
Accounts receivable (32,229,604) (4,585,364) (6,328,191) (19,785,995)
Accounts receivable - related parties 249,925 35,557 (249,925) 1,676,016
Contract assets 733,206 104,315 (1,622,098) 2,396,978
Prepaid expenses and other current asset (15,986,322) (2,274,404) (20,695,812) (4,838,558)
Prepaid expenses - related parties 6,696,004 952,653 (6,701,004) (164,858)
Others receivable - related parties 7,957,934 1,132,190 (20,148,370)
Refundable deposits 767,646 (1,000,000)
Accounts payable (13,560,275) (1,929,245) 4,647,958 21,656,849
Accounts payable - related parties 7,936,548 1,129,147 (6,423,724) (758,726)
Contract liabilities 19,986,437 2,843,506 (696,777) 2,788,088
Accrued expenses and other current liabilities 2,588,489 368,269 6,533,137 3,268,149
Other payable - shareholders (613,820) (87,329) 576,791 (6,307)
Other payable - related parties (135,073) (19,217) (7,476,155) 7,316,314
Taxes payable 2,719,805 386,952 11,185,112 (1,617,237)
Operating lease liabilities (1,306,400) (185,864) (5,567,814) (7,571,923)
Net cash used in operating activities (35,957,112) (5,115,683) (97,447,783) (44,222,478)
Cash flows from investing activities:        
Net cash from acquisition of subsidiaries 145,605
Purchase of property, equipment and intangible assets (5,093,001) (724,590) (719,288) (4,444,392)
Proceeds from disposal of property and equipment 850 121
Loans to related parties (1,153,388) (164,095)
Collection of loans to related parties 67,685 9,630
Net cash used in investing activities (6,177,854) (878,934) (573,683) (4,444,392)
Cash flows from financing activities:        
Proceeds from short-term borrowings 37,030,026 5,268,328 33,531,795 31,805,201
Proceeds from a long-term borrowing 4,000,000 569,087
Repayments of short-term borrowings (25,323,561) (3,602,829) (48,637,611) (21,001,703)
Repayment of a long-term borrowing (4,400,000) (600,000)
Proceeds from loans provided by shareholders 23,761,605 823,265
Proceeds from loans provided by related parties 328,147 46,686 3,738,000 6,000,000
Loans repayment to shareholders (8,655,800) (1,231,476) (15,929,070)
Loans repayment to related parties (2,373,700) (337,711) (4,504,300) (3,000,000)
Proceeds from loans provided by third parties 1,900,000 2,833,080
Loans repayment to third parties (4,733,080)
Proceeds received from private placements, net of issuance costs 47,469,070 34,823,000
Proceeds received from F-3 share purchase agreement, net of issuance costs 40,202,331 5,719,658 70,194,498
Proceeds received from issuance of convertible notes 5,728,717
Proceeds from shares issued in IPO 38,310,125
Payments for deferred offering costs (9,251,204)
Payments to Initial Shareholders (35,000,000)
Capital injection by a non-controlling interest 1,756,488 249,899 104,174 2,450,000
Net cash provided by financing activities 46,963,931 6,681,642 108,223,798 48,191,764
Effect of exchange rate changes (3,374,036) (480,030) 292,551 (1,360,107)
Net (decrease) / increase in cash and restricted cash 1,454,929 206,995 10,494,883 (1,835,213)
Total cash and restricted cash at beginning of the year 37,099,911 5,278,271 26,605,028 28,440,241
Total cash and restricted cash at end of the year 38,554,840 5,485,266 37,099,911 26,605,028
Restricted cash at end of the year   103,489 501,952
Cash at end of the year 38,554,840   36,996,422 26,103,076
Supplemental disclosure of cash flow information:        
Income tax paid 110,526 15,725 198,532 2,152,341
Interest expense paid 477,170 67,888 1,554,863 884,259
Supplemental non-cash investing and financing information:        
Obtaining right-of-use assets in exchange for operating lease liabilities 5,201,567 740,036 2,272,088 441,168
Operating lease right-of-use assets derecognized upon lease termination 5,772,982
Issuance of new shares for long term investments 19,947,830
Issuance of new shares for assets acquisition 14,478,028
Issuance of new shares for convertible debentures 5,728,717
Issuance of warrant as share issue cost ¥ 360,874