| ACCOUNTS RECEIVABLE, NET |
6. ACCOUNTS RECEIVABLE, NET
Accounts receivable, net is comprised of the
following:
| | |
As of December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
USD | |
| Receivables from franchise and managed hotels | |
| 78,125,555 | | |
| 61,730,297 | | |
| 8,827,315 | |
| Receivables from third-party merchandisers for sublease rental | |
| 11,325,847 | | |
| 12,520,056 | | |
| 1,790,344 | |
| Receivable from individual and corporate customers and travel
agents | |
| 7,392,616 | | |
| 5,108,890 | | |
| 730,562 | |
| Receivables from distributors, supermarkets and franchise and
managed restaurants | |
| 8,489,793 | | |
| 6,190,351 | | |
| 885,208 | |
| Less: allowances for credit losses | |
| (5,645,777 | ) | |
| (4,214,100 | ) | |
| (602,608 | ) |
| Total | |
| 99,688,034 | | |
| 81,335,494 | | |
| 11,630,821 | |
The movements in the allowance
for credit losses were as follows:
| | |
2023 | | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | | |
USD | |
| Balance of the beginning of the year | |
| 8,840,708 | | |
| 3,532,016 | | |
| 5,645,777 | | |
| 807,335 | |
| Effect on the opening balance of adoption of ASU 2016-03 | |
| 1,504,518 | | |
| - | | |
| - | | |
| - | |
| Provision | |
| 12,377,993 | | |
| 22,708,804 | | |
| 20,629,626 | | |
| 2,949,997 | |
| Write-off | |
| (19,191,203 | ) | |
| (20,595,043 | ) | |
| (22,061,303 | ) | |
| (3,154,724 | ) |
| Balance of the end of the year | |
| 3,532,016 | | |
| 5,645,777 | | |
| 4,214,100 | | |
| 602,608 | |
|