v3.21.1
Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2020
CNY (¥)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
CNY (¥)
Dec. 31, 2018
CNY (¥)
Cash flows from operating activities:        
Net income (loss) ¥ (100,584,748) $ (15,415,287) ¥ (129,218,299) ¥ 850,601,505
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Provision for doubtful accounts       3,611,845
Gain from disposal of discontinued operations     (4,894,197) (1,126,543,946)
Depreciation and amortization 29,913,815 4,584,493 17,545,060 13,331,272
Loss from disposal of property and equipment 87,991 13,485   893
Share-based compensation 1,776,783 272,304 4,809,454 20,591,899
Deferred income tax benefit (10,283,238) (1,575,975) (8,054,197) (25,969,955)
Loss on disposal of subsidiaries and others 1,767,800 270,927 7,850  
Impairment loss of long-term investments 1,726,391 264,581 26,814,507 6,380,802
Provision for loan receivable and other receivables 5,904,305 904,874 17,430,825  
Impairment loss of intangible assets and other non-current assets 3,120,425 478,226 8,932,439  
Change in fair value of long-term investment (Note 6)       (2,750,000)
Foreign currency exchange loss (gain) 1,050,043 160,926 (56,630) 42,887
Changes in operating assets and liabilities, net of effect of acquisition and disposal:        
Accounts receivable (2,030,603) (311,204) 225,192 41,133,635
Prepaid expenses and other current assets 12,866,352 1,971,855 (3,615,775) (13,568,373)
Other non-current assets (6,552,514) (1,004,217) (10,066,863) (649,463)
Income tax payable (571,474) (87,582) 679,961 (14,953,642)
Accrued expenses and other payables 1,678,155 257,189 14,737,959 (67,205,665)
Deferred revenues 32,257,157 4,943,626 6,846,155 3,320,001
Net cash used in operating activities (27,873,360) (4,271,779) (57,876,559) (312,626,305)
Cash flows from investing activities:        
Cash paid for property and equipment (4,910,407) (752,552) (1,284,816) (7,110,298)
Loan lent to Beijing Biztour       (13,745,856)
Cash receipt from property and equipment disposal 37,441 5,738   2,760
Proceeds received from the sale of non-redeemable non-controlling interests (Note 15)       1,500,000
Payment for acquisition of a subsidiary, less cash acquired (15,000,000) (2,298,851) (34,554,702)  
Proceeds from acquisition of a subsidiary, less cash paid 287,801 44,107   215,000
Cash paid for long-term investments (Note 6)     (6,000,000)  
Proceeds from disposal of subsidiaries and others, less cash disposed 494,737 75,822    
Proceeds from disposal of discontinued operations, net of cash disposed in the amount of RMB147,738,996, RMB nil and nil for the years ended December 31, 2018, 2019 and 2020     4,894,197 1,223,119,391
Net cash provided by (used in) investing activities (19,090,428) (2,925,736) (36,945,321) 1,201,735,714
Cash flows from financing activities:        
Cash paid for employee individual income tax for net-settlement of vested shares (33,807) (5,181) (126,723) (1,727,040)
Cash contributed by non-controlling interest holder of Muhua Shangce     5,000,000  
Cash received from short-term loans 19,618,000 3,006,590   15,000,000
Repayment of short-term loans (17,808,000) (2,729,195) (9,000,000) (15,000,000)
Principal payments on capital lease obligations       (2,988,587)
Cash received upon private placement 8,530,931 1,307,422 61,693,192  
Cash received for exercise of share options       1,433,441
Special cash dividend (Note 19)       (946,611,803)
Cash paid for repurchase of common shares (4,003,530) (613,568)    
Net cash provided by (used in) financing activities 6,303,594 966,068 57,566,469 (949,893,989)
Effect of foreign exchange rate changes on cash (814,131) (124,771) 866,827 (4,720,020)
Net decrease in cash and cash equivalents (41,474,325) (6,356,218) (36,388,584) (65,504,600)
Cash and cash equivalents at beginning of year 154,197,758 23,631,840 190,586,342 256,090,942
Cash and cash equivalents at end of year 112,723,433 17,275,622 154,197,758 190,586,342
Supplemental disclosures of cash flow information:        
Cash paid for income tax 114,003 17,472 209,697 232,402,067
Cash refunded for income tax (2,869,042) (439,700)    
Cash paid for interest expenses 208,220 31,911 231,722 249,683
Non-cash investing and financing activities:        
Issuance of common shares as the consideration of Huanqiuyimeng Acquisition     76,868,663  
Acquisition of non-redeemable non-controlling interests ¥ 1,145,497 $ 175,555    
Consideration payable for business acquisition     19,642,082  
Software platform of Project Shuang Chuang        
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Impairment loss of intangible assets and other non-current assets     ¥ 8,932,439 0
Cash flows from investing activities:        
Cash paid for intangible assets       ¥ (2,245,283)

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