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 consolidated VIE as of December 31, 2021 and 2022, and net revenues, net loss and cash flows for the years ended December 31, 2020, 2021 and 2022, were included in the accompanying consolidated financial statements of the Company.
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Cash |
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191,046 |
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159,882 |
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Prepaid expenses and other current assets |
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16,041 |
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6,592 |
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Long-term investments (i) |
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62,722,195 |
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55,779,696 |
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Property and equipment, net |
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488 |
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— |
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2,590 |
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2,590 |
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Accrued expenses and other payables |
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124,089 |
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134,604 |
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Amounts due to related parties (ii) |
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62,767,353 |
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63,597,353 |
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Total current liabilities |
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Net revenues |
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— |
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— |
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— |
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Net loss |
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(14,304,202 |
) |
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(14,072,212 |
) |
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(7,824,115 |
) |
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Net cash used in operating activities |
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(466,004 |
) |
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(903,343 |
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(861,350 |
) |
Net cash used in investing activities |
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(15,000,000 |
) |
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(4,642,082 |
) |
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— |
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Net cash received from financing activities (iii) |
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15,122,000 |
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5,645,353 |
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830,186 |
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(i) |
Long-term investments as of December 31, 2021 and 2022 include investment cost and share of losses derived from the 30.96 % equity interests
investment in Beijing Huanqiuyimeng Education Consultation Corp. (“Huanqiuyimeng”) in the amount of RMB 62,722,195 and RMB 55,779,696 ,
respectively, which is eliminated on consolidation.
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(ii) |
Amounts due to related parties represent the amounts due to the Company’s subsidiaries, which are eliminated on consolidation. |
(iii) |
RMB15,122,000, RMB5,645,353 and RMB830,186 of net cash received from financing activities for the years ended December 31, 2020, 2021 and 2022 respectively were 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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Financial institutions in the mainland of the PRC |
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— Denominated in Renminbi (“RMB”) |
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59,679,748 |
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47,841,321 |
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— Denominated in U.S. Dollar (“USD”) |
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132 |
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145 |
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Total cash balances held at mainland PRC financial institutions |
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Financial institutions in Hong Kong Special Administrative Region (“HKSAR”) of the PRC |
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— Denominated in Hong Kong Dollar (“HKD”) |
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199,418 |
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2,714 |
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— Denominated in USD |
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11,460,063 |
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7,136,019 |
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Total cash and cash equivalents balances held at HKSAR financial institutions |
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Total cash and cash equivalents balances held at financial institutions |
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