| Schedule of Assets and Liabilities Information of Group’s VIE and Net Revenues, Net Loss and Cash Flows |
The following assets and liabilities information of the Group’s VIE as of December 31, 2019 and 2020, and net revenues, net loss and cash flows for the years ended December 31, 2018, 2019 and 2020, were included in the accompanying consolidated financial statements of the Company.
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December 31,
2019
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December 31,
2020
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RMB
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RMB
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Cash
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|
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435,122
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91,118
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Prepaid expenses and other current assets
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|
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4,180
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84,180
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Total current assets
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439,302
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175,298
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Long-term investments (i)
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89,605,550
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75,764,719
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Property and equipment, net
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11,972
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6,167
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Other non-current assets
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2,590
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2,590
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Total assets
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90,059,414
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75,948,774
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Accrued expenses and other payables
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—
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71,562
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Payable for business acquisition
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19,642,082
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4,642,082
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Amounts due to related parties (ii)
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42,000,000
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57,122,000
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Total current liabilities
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61,642,082
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|
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61,835,644
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Total liabilities
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61,642,082
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61,835,644
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Year ended December 31,
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2018
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2019
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|
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2020
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RMB
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|
RMB
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|
|
RMB
|
|
Net revenues
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—
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—
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|
—
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Net loss
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(7,125,782)
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|
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(14,456,886)
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|
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(14,304,202)
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Year ended December 31,
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2018
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2019
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|
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2020
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|
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RMB
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|
RMB
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|
|
RMB
|
|
Net cash used in operating activities
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(172,145)
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(1,441,360)
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(466,004)
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Net cash used in investing activities (iii)
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(12,458,500)
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(77,492,873)
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(15,000,000)
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Net cash received from financing activities (iii)
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38,000,000
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54,000,000
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15,122,000
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(i)
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Long-term investments as of December 31, 2019 and 2020 include investment cost and share of losses of 30.96% equity interest investment in Huanqiuyimeng, which is eliminated on consolidation.
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(ii)
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Amounts due to related parties represent the amounts due to the Company’s subsidiaries, which are eliminated on consolidation.
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(iii)
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For the years ended December 31, 2018, 2019 and 2020, RMB 38,000,000, RMB 54,000,000 and RMB 15,122,000 of net cash received from financing activities respectively were related to the transactions with the Company’s subsidiaries, which are eliminated on consolidation. For the year ended December 31, 2018, RMB 12,450,000 of net cash used in investing activities was related to the transactions with the Company’s subsidiaries, which are eliminated on consolidation.
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| Schedule of Significant Concentrations and Risks |
Cash and cash equivalents consist of cash on hand and cash at bank. Cash at bank are deposited in financial institutions at below locations:
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December 31,
2019
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December 31,
2020
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RMB
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RMB
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|
Financial institutions in the mainland of the PRC
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— Denominated in Renminbi (“RMB”)
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47,224,436
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85,103,159
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— Denominated in U.S. Dollar (“USD”)
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12,292,950
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12,807,586
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Total cash balances held at mainland PRC financial institutions
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59,517,386
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97,910,745
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Financial institutions in Hong Kong Special Administrative Region (“HKSAR”) of the PRC
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|
|
|
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— Denominated in Hong Kong Dollar (“HKD”)
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|
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2,875,819
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1,498,135
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— Denominated in USD
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91,793,594
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13,314,551
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— Denominated in Great Britain Pound
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|
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2
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2
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Total cash and cash equivalents balances held at HKSAR financial institutions
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|
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94,669,415
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|
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14,812,688
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Total cash and cash equivalents balances held at financial institutions
|
|
|
154,186,801
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|
|
112,723,433
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