Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Schedule on Impact of ASC 842 on Consolidated Balance Sheets

The impact of ASC 842 on the December 31, 2019 and 2020 consolidated balance sheets was as follows:

	December 31,	December 31,
	2019	2020
	RMB	RMB
Operating leases:
Right-of-use assets	40,786,291	41,779,086
Lease liabilities-current	20,556,017	16,972,187
Lease liabilities-non-current	12,500,120	24,005,765

Summary of Other Information Related to Leases

Other information related to leases is presented below:

	Year ended December 31,
	2019	2020
	RMB	RMB
Supplemental cash flow information:
Cash paid for amounts included in measurement of operating leases liabilities	12,850,734	20,376,826
Right-of-use assets acquired in exchange for new operating lease obligations	8,696,875	33,360,187
Right-of-use assets acquired in connection with Huanqiuyimeng Acquisition	32,089,416	—
Weighted average remaining lease term	1.67	3.40
Weighted average discount rate	5.88%	6.60%

Schedule on Maturities of Lease Liabilities under Non-Cancellable Leases

Maturities of lease liabilities under non-cancellable leases as of December 31, 2020 are as follows:

		Operating leases
		RMB
2021		17,508,218
2022		11,648,328
2023		7,503,992
2024		5,095,177
2025		4,040,559
Thereafter		—
Total undiscounted lease payments		45,796,274
Less: Imputed interest		(4,818,322)
Total lease liabilities		40,977,952
Amounts due within 12 months		16,972,187
Non-current lease liability		24,005,765

Summary of Short-term Lease Commitments

Short-term lease expense, with a lease term of 12 months or less, for the year ended December 31, 2019 and 2020 was RMB 2,125,616 and RMB 6,112,893, and short-term lease commitments as of December 31, 2020 are as follows:

		Short-term Lease Commitments Amount
		RMB
Year ended December 31:
2021		653,566
		653,566