Investments (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Investments [Abstract] |
|
| Schedule of Unrealized and Realized Gains and Losses of Investments in Equity Securities in Current Assets |
Total unrealized and realized
gains and losses of investments in equity securities in current assets for the years ended December 31, 2023, 2024 and 2025 were as follows:
| | |
For the years ended December 31, | |
| | |
2023 | | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | | |
USD | |
| Total net loss recognized | |
| (15,344,616 | ) | |
| (2,544,834 | ) | |
| - | | |
| - | |
| Less: Net realized loss on equity securities sold | |
| - | | |
| (1,245,632 | ) | |
| - | | |
| - | |
| Net unrealized loss recognized on equity securities held | |
| (15,344,616 | ) | |
| (1,299,202 | ) | |
| - | | |
| - | |
|
| Schedule of Long-Term Investments |
As at December 31, 2024 and 2025, long-term investments
consisted of the following:
| | |
As of December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
USD | |
| Equity method investments | |
| | |
| | |
| |
| Shanghai Wiselong Enterprise Management Co., Ltd
(“Wiselong”) | |
| 27,133,053 | | |
| 32,498,358 | | |
| 4,647,203 | |
| Other | |
| 15,000,068 | | |
| 11,895,317 | | |
| 1,701,007 | |
| Equity securities with readily determinable fair values | |
| 28,355,681 | | |
| - | | |
| - | |
| Equity securities without readily determinable fair values | |
| 9,826,143 | | |
| 8,826,143 | | |
| 1,262,122 | |
| Available-for-sale debt investment | |
| 103,709,272 | | |
| 103,709,272 | | |
| 14,830,229 | |
| Total | |
| 184,024,217 | | |
| 156,929,090 | | |
| 22,440,561 | |
|
| Schedule of Equity Securities with Readily Determinable Fair Values |
Total unrealized and realized
gains and losses of equity securities with readily determinable fair values included in long-term investments for the years ended December
31, 2023, 2024 and 2025 were as follows:
| | |
For the years ended December 31, | |
| | |
2023 | | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | | |
USD | |
| Total net gains (losses) recognized | |
| 9,966,512 | | |
| (11,163,213 | ) | |
| 51,489,277 | | |
| 7,362,869 | |
| Less: Net realized gains on equity securities
sold | |
| - | | |
| - | | |
| 51,489,277 | | |
| 7,362,869 | |
| Net unrealized gains (losses) recognized
on equity securities held | |
| 9,966,512 | | |
| (11,163,213 | ) | |
| - | | |
| - | |
|
| Schedule of Equity Investments Without Readily Determinable Fair Values |
The equity investments without
readily determinable fair value held as of December 31, 2024 and 2025 were as follows:
| | |
As of December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
USD | |
| Initial cost | |
| 51,523,212 | | |
| 3,523,212 | | |
| 503,813 | |
| Cumulative unrealized gains | |
| 302,931 | | |
| 5,302,931 | | |
| 758,309 | |
| Cumulative unrealized losses (including
impairment) | |
| (42,000,000 | ) | |
| - | | |
| - | |
| Total carrying value | |
| 9,826,143 | | |
| 8,826,143 | | |
| 1,262,122 | |
|
| Schedule of Short-Term and Long-Term Debt Securities |
Long-term debt securities
as of December 31, 2024 and 2025 were shown as below:
| | |
As of December 31, 2024 | |
| | |
Amortized
cost | | |
Gross unrecognized
holding gains | | |
Gross unrecognized
holding losses | | |
Gross
unrealized
gains | | |
Gross
unrealized
losses | | |
Fair value | |
| | |
RMB | | |
RMB | | |
RMB | | |
RMB | | |
RMB | | |
RMB | |
| Available-for-sale debt securities of Yibon | |
| 103,701,474 | | |
| - | | |
| - | | |
| 2,797,663 | | |
| (2,789,865 | ) | |
| 103,709,272 | |
| | |
As of December 31, 2025 | |
| | |
Amortized
cost | | |
Gross unrecognized
holding gains | | |
Gross unrecognized
holding losses | | |
Gross
unrealized
gains | | |
Gross
unrealized
losses | | |
Fair value | |
| | |
RMB | | |
RMB | | |
RMB | | |
RMB | | |
RMB | | |
RMB | |
| Available-for-sale debt securities of Yibon | |
| 103,701,474 | | |
| - | | |
| - | | |
| 2,797,663 | | |
| (2,789,865 | ) | |
| 103,709,272 | |
|