Recon Technology (RCON) 6-K 24 Mar 23 Current report (foreign) Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Dec. 31, 2022
Document Information [Line Items]
Entity Registrant Name	Recon Technology, Ltd
Entity Central Index Key	0001442620
Document Type	6-K
Document Period End Date	Dec. 31, 2022
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Current assets
Cash	¥ 269,100,000	$ 39,011,267	¥ 316,974,857
Restricted cash	730,060	105,832	723,560
Notes receivable	8,471,941	1,228,120	10,828,308
Trade accounts receivable, net	38,972,445	5,649,572	22,577,980
Inventories, net	4,941,662	716,359	3,894,369
Other receivables, net	2,767,204	401,143	5,501,833
Loans to third parties	95,089,205	13,784,440	50,383,822
Purchase advances, net	554,700	80,411	178,208
Contract costs, net	27,747,782	4,022,409	33,858,820
Prepaid expenses	409,939	59,426	420,284
Prepaid expenses - related parties	0	0	275,000
Total current assets	448,796,358	65,058,979	445,617,041
Property and equipment, net	26,104,639	3,784,213	25,474,162
Construction in progress	267,571	38,788	239,739
Intangible assets, net	5,600,000	811,794	5,950,000
Long-term other receivables, net	620,000	89,877	1,564,381
Long-term loan to a third party	3,067,000	444,602	0
Goodwill	4,730,002	685,676	4,730,002
Operating lease right-of-use assets (including 765,241 and 553,226 ($80,197) from a related party as of June 30, 2022 and December 31, 2022, respectively)	5,038,871	730,451	6,666,759
Total Assets	494,224,441	71,644,380	490,242,084
Current liabilities
Short-term bank loans	10,000,000	1,449,633	10,000,000
Trade accounts payable	16,987,376	2,462,542	16,739,989
Other payables	2,125,082	308,059	3,533,918
Other payable- related parties	2,471,268	358,243	2,240,135
Contract liabilities	55,400	8,031	2,001,277
Accrued payroll and employees' welfare	2,278,254	330,263	2,250,547
Taxes payable	2,884,924	418,208	2,210,958
Short-term borrowings - related parties	10,005,069	1,450,367	9,009,156
Long-term borrowings - related party - current portion	1,041,981	151,049	999,530
Operating lease liabilities - current (including 429,265 and 439,865 ($63,764) from a related party as of June 30, 2022 and December 31, 2022, respectively)	3,705,420	537,150	3,892,774
Total Current Liabilities	51,554,774	7,473,545	52,878,284
Operating lease liabilities - non-current (including 335,976 and 113,361 ($16,433) from a related party as of June 30, 2022 and December 31, 2022, respectively)	752,821	109,131	2,184,635
Long-term bank loan	1,000,000	144,963	0
Long-term borrowings - related party	4,989,930	723,356	5,511,076
Contract liabilities - non-current	106,000	15,366	106,000
Warrant liability	37,043,871	5,370,000	16,677,328
Total Liabilities	95,447,396	13,836,361	77,357,323
Commitments and Contingencies
Equity
Additional paid-in capital	502,139,970	72,791,843	496,038,696
Statutory reserve	4,148,929	601,442	4,148,929
Accumulated deficit	(141,149,943)	(20,461,555)	(111,273,525)
Accumulated other comprehensive income	20,971,162	3,040,048	11,307,461
Total shareholders' equity	406,520,286	58,930,503	420,631,729
Non-controlling interests	(7,743,241)	(1,122,484)	(7,746,968)
Total equity	398,777,045	57,808,019	412,884,761
Total Liabilities and Equity	494,224,441	71,644,380	490,242,084
Class A ordinary shares
Equity
Common stock value	18,001,670	2,609,581	18,001,670
Class B ordinary shares
Equity
Common stock value	¥ 2,408,498	$ 349,144	¥ 2,408,498

CONDENSED CONSOLIDATED INTERI_2

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS (Parenthetical)	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($) $ / shares shares	Jun. 30, 2022 CNY (¥) shares	Jun. 30, 2022 $ / shares	Jun. 14, 2021 $ / shares	Apr. 05, 2021 $ / shares shares	Apr. 05, 2021 ¥ / shares shares	Dec. 26, 2019 shares	Dec. 10, 2019 ¥ / shares
Rights of use lease assets, net	¥ 5,038,871	$ 730,451	¥ 6,666,759
Operating lease liabilities - current	3,705,420	537,150	3,892,774
Operating lease liabilities - non-current	¥ 752,821	$ 109,131	¥ 2,184,635
Class A ordinary shares
Ordinary shares, par value (in dollars per share) | (per share)		$ 0.0925		$ 0.0925	$ 0.0925	$ 0.0925	¥ 0.62		¥ 0.62
Ordinary shares, shares authorized	150,000,000	150,000,000	150,000,000			150,000,000	150,000,000
Ordinary shares, shares issued	29,700,718	29,700,718	29,700,718
Ordinary shares, shares outstanding	29,700,718	29,700,718	29,700,718					4,611,720
Class B ordinary shares
Ordinary shares, par value (in dollars per share) | (per share)		$ 0.0925		$ 0.0925		$ 0.0925	¥ 0.62
Ordinary shares, shares authorized	20,000,000	20,000,000	20,000,000			20,000,000	20,000,000
Ordinary shares, shares issued	4,100,000	4,100,000	4,100,000
Ordinary shares, shares outstanding	4,100,000	4,100,000	4,100,000
Related party
Rights of use lease assets, net	¥ 553,226	$ 80,197	¥ 765,241
Operating lease liabilities - current	439,865	63,764	429,265
Operating lease liabilities - non-current	¥ 113,361	$ 16,433	¥ 335,976

CONDENSED CONSOLIDATED INTERI_3

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Revenues	¥ 45,559,591	$ 6,604,466	¥ 54,411,724
Cost of revenues	32,427,772	4,700,835	39,904,645
Gross profit	13,131,819	1,903,631	14,507,079
Selling and distribution expenses	4,021,899	583,028	4,727,496
General and administrative expenses	26,212,540	3,799,855	47,314,621
Net recovery of credit losses	(7,141,708)	(1,035,285)	(5,671,285)
Research and development expenses	5,109,302	740,661	5,477,213
Operating expenses	28,202,033	4,088,259	51,848,045
Loss from operations	(15,070,214)	(2,184,628)	(37,340,966)
Other income (expenses)
Subsidy income	85,602	12,409	2,278
Interest income	5,187,649	752,018	2,590,649
Interest expense	(169,091)	(24,512)	(784,077)
Income from investment in unconsolidated entity	0	0	15,411
Gain (loss) in fair value changes of warrants liability	(20,097,665)	(2,913,423)	147,168,952
Foreign exchange transaction gain (loss)	42,455	6,154	(151,986)
Other income (expenses)	157,753	22,868	(13,630)
Other income (expenses), net	(14,793,297)	(2,144,486)	148,827,597
Income (loss) before income tax	(29,863,511)	(4,329,114)	111,486,631
Income tax expenses	9,180	1,331	107,204
Net income (loss)	(29,872,691)	(4,330,445)	111,379,427
Less: Net income attributable to non-controlling interests	3,727	540	21,917
Net income (loss) attributable to Recon Technology, Ltd	(29,876,418)	(4,330,985)	111,357,510
Comprehensive income (loss)
Net income (loss)	(29,872,691)	(4,330,445)	111,379,427
Foreign currency translation adjustment	9,663,701	1,400,882	(4,636,991)
Comprehensive income (loss)	(20,208,990)	(2,929,563)	106,742,436
Less: Comprehensive income attributable to non-controlling interests	3,727	540	21,917
Comprehensive income (loss) attributable to Recon Technology, Ltd	¥ (20,212,717)	$ (2,930,103)	¥ 106,720,519
Earning (loss) per ordinary share -Basic | (per share)	¥ (0.88)	$ (0.13)	¥ 4.08
Earning (loss) per ordinary share -Diluted | (per share)	¥ (0.88)	$ (0.13)	¥ 3.87
Weighted average shares -Basic	33,800,718	33,800,718	27,312,581
Weighted average shares -Diluted	33,800,718	33,800,718	28,776,992

CONDENSED CONSOLIDATED INTERI_4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY	Class A ordinary shares Common stock CNY (¥) shares	Class B ordinary shares Common stock CNY (¥) shares	Additional Paid-in Capital CNY (¥)	Statutory Reserve CNY (¥)	Accumulated deficit CNY (¥)	Accumulated Other Comprehensive income CNY (¥)	Shareholders' Equity CNY (¥)	Non-controlling Interest CNY (¥)	CNY (¥)	USD ($)
Opening Balance at Jun. 30, 2021	¥ 16,340,826		¥ 479,490,763	¥ 4,148,929	¥ (206,860,320)	¥ 1,974,836	¥ 295,095,034	¥ (7,579,568)	¥ 287,515,466	$ 41,679,180
Opening Balance (in shares) at Jun. 30, 2021	26,868,391
Restricted shares issued for service	¥ 294,397		4,336,666				4,631,063		4,631,063	671,334
Restricted shares issued for services (in shares)	500,000
Cancellation of ordinary shares issued to Starry Lab	¥ (187,133)		(27,488,317)				(27,675,450)		(27,675,450)	(4,011,923)
Cancellation of ordinary shares issued to Starry Lab (in shares)	(316,345)
Restricted shares issued for management and employees	¥ 76,804	¥ 1,474,543	25,824,524				27,375,871		27,375,871	3,968,495
Restricted shares issued for management and employees (in shares)	128,672	2,500,000
Net income (loss) for the period					111,357,510		111,357,510	21,917	111,379,427	16,145,924
Foreign currency translation adjustment						(4,636,991)	(4,636,991)		(4,636,991)	(672,193)
Ending Balance at Dec. 31, 2021	¥ 16,524,894	¥ 1,474,543	482,163,636	4,148,929	(95,502,810)	(2,662,155)	406,147,037	(7,557,651)	398,589,386	57,780,817
Ending Balance (in shares) at Dec. 31, 2021	27,180,718	2,500,000
Opening Balance at Jun. 30, 2022	¥ 18,001,670	¥ 2,408,498	496,038,696	4,148,929	(111,273,525)	11,307,461	420,631,729	(7,746,968)	412,884,761	59,853,122
Opening Balance (in shares) at Jun. 30, 2022	29,700,718	4,100,000
Restricted shares issued for service			4,304,857				4,304,857		4,304,857	624,046
Restricted shares issued for management and employees			1,796,417				1,796,417		1,796,417	260,414
Net income (loss) for the period					(29,876,418)		(29,876,418)	3,727	(29,872,691)	(4,330,445)
Foreign currency translation adjustment						9,663,701	9,663,701		9,663,701	1,400,882
Ending Balance at Dec. 31, 2022	¥ 18,001,670	¥ 2,408,498	¥ 502,139,970	¥ 4,148,929	¥ (141,149,943)	¥ 20,971,162	¥ 406,520,286	¥ (7,743,241)	¥ 398,777,045	$ 57,808,019
Ending Balance (in shares) at Dec. 31, 2022	29,700,718	4,100,000

CONDENSED CONSOLIDATED INTERI_5

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Cash flows from operating activities:
Net income (loss)	¥ (29,872,691)	$ (4,330,445)	¥ 111,379,427
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	1,952,625	283,059	1,668,830
Loss (gain) from disposal of equipment	(12,782)	(1,853)	35,279
Loss (gain) in fair value changes of warrants liability	20,097,665	2,913,423	(147,168,952)
Net recovery of credit losses	(7,141,708)	(1,035,285)	(5,671,285)
Provision for slow moving inventories	245,990	35,660	38,856
Amortization of right of use assets	1,627,888	235,984	1,570,450
Restricted shares issued for management and employees	1,796,417	260,414	27,375,871
Restricted shares issued for services	4,304,857	624,046	4,631,063
Income from investment in unconsolidated entity	0	0	(15,411)
Deferred tax expense	0	0	104,315
Accrued interest income from loans to third parties	(3,757,041)	(544,633)	(2,101,366)
Changes in operating assets and liabilities:
Notes receivable	2,356,367	341,587	(8,502,433)
Trade accounts receivable	(12,501,742)	(1,812,293)	(12,364,696)
Inventories	(1,158,138)	(167,887)	(1,314,367)
Other receivables	(9,673,906)	(1,402,361)	(1,495,225)
Other receivables-related parties	0	0	(23,800)
Purchase advances	(449,477)	(65,158)	543,832
Contract costs	9,765,091	1,415,579	20,068,844
Prepaid expense	10,345	1,500	116,153
Prepaid expense - related parties	275,000	39,865	433,000
Operating lease liabilities	(1,619,168)	(234,720)	(526,878)
Trade accounts payable	247,387	35,862	102,178
Other payables	(1,414,691)	(205,078)	(7,569,400)
Other payables-related parties	231,133	33,506	1,169,121
Contract liabilities	(1,945,877)	(282,081)	(6,490,414)
Accrued payroll and employees' welfare	27,710	4,017	(122,226)
Taxes payable	677,510	98,214	1,088,901
Net cash used in operating activities	(25,900,000)	(3,800,000)	(23,040,333)
Cash flows from investing activities:
Purchases of property and equipment	(821,272)	(119,054)	(337,171)
Proceeds from disposal of equipment	31,950	4,632	0
Repayments of loans to third parties	25,194,900	3,652,335	113,146,100
Payments made for loans to third parties	(58,488,100)	(8,478,625)	(86,031,987)
Net cash provided by (used in) investing activities	(34,082,522)	(4,940,712)	26,776,942
Cash flows from financing activities:
Proceeds from short-term bank loans	1,000,000	144,963	0
Repayments of short-term bank loans	0	0	(5,000,000)
Proceeds from short-term borrowings	0	0	260,000
Repayments of short-term borrowings	0	0	(530,000)
Proceeds from short-term borrowings-related parties	10,000,000	1,449,633	5,000,000
Repayments of short-term borrowings-related parties	(9,000,000)	(1,304,669)	(8,522,500)
Repayments of long-term borrowings-related party	(476,927)	(69,137)	(436,457)
Net cash provided by (used in) financing activities	1,523,073	220,790	(9,228,957)
Effect of exchange rate fluctuation on cash and restricted cash	10,633,748	1,541,503	(5,642,145)
Net decrease in cash and restricted cash	(47,856,937)	(6,937,497)	(11,134,493)
Cash and restricted cash at beginning of period	317,698,417	46,054,596	343,998,570
Cash and restricted cash at end of period	269,841,480	39,117,099	332,864,077
Supplemental cash flow information
Cash paid during the year for interest	624,321	90,504	732,842
Cash paid during the period for taxes	9,180	1,331	2,889
Reconciliation of cash and restricted cash
Cash	316,974,857	45,949,706	343,998,570
Restricted cash	723,560	104,890	0
Cash and restricted cash at beginning of period	317,698,417	46,054,596	343,998,570
Cash	269,111,420	39,011,267	332,864,077
Restricted cash	730,060	105,832	0
Cash and restricted cash at end of period	269,841,480	39,117,099	332,864,077
Non-cash investing and financing activities
Cancellation of shares issued to Starry Lab	0	0	(27,675,450)
Reduction of right-of-use assets and operating lease obligations due to early termination of lease agreement	43,881	6,361	0
Inventories transferred from fixed assets	(65,456)	(9,489)	0
Receivable for disposal of property and equipment	¥ 0	$ 0	¥ 3,000

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	6 Months Ended
	Dec. 31, 2022
ORGANIZATION AND NATURE OF OPERATIONS
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS Organization The Company, along with its wholly-owned subsidiaries, Recon Investment Ltd. (“Recon-IN”) and Recon Hengda Technology (Beijing) Co., Ltd. (“Recon-BJ”), conducts its business through the following PRC legal entities (“Domestic Companies”) that are consolidated as variable interest entities (“VIEs”) and operate in the Chinese energy industry: 1. Beijing BHD Petroleum Technology Co., Ltd. (“BHD”), ​ 2. Nanjing Recon Technology Co., Ltd. (“Nanjing Recon”). The Company has signed Exclusive Technical Consulting Service Agreements with each of the Domestic Companies, which are its VIEs, and Equity Interest Pledge Agreements and Exclusive Equity Interest Purchase Agreements with their shareholders. Through these contractual arrangements, the Company has the ability to substantially influence each of the Domestic Companies’ daily operations and financial affairs, appoint their senior executives and approve all matters requiring shareholder approval. As a result of these contractual arrangements, which enable the Company to control the Domestic Companies, the Company is considered as the primary beneficiary of each Domestic Company. Thus, the Company is able to absorb 90% of net interest or 100% of net loss of those VIEs. On February 21, 2019, the Company’s board of directors approved transferring the VIEs and VIE-controlled companies from Jining Recon Technology Ltd. (“Recon-JN”) to Recon-BJ. At the time, both Recon-JN and Recon-BJ were the Company’s wholly owned subsidiaries in China. On April 1, 2019, the Company completed the VIE transfer process and then completed the dissolution of Recon-JN on April 10, 2019, and subsequently completed the dissolution of Recon Technology Co., Limited (“Recon HK”) on May 15, 2020. The Company does not expect any negative impact of this process on its operations. On December 17, 2015, Huang Hua BHD Petroleum Equipment Manufacturing Co., Ltd (“HH BHD”), a fully owned subsidiary established by BHD was organized under the laws of the PRC, focusing on the design, assemble and manufacture of hearing equipment. Gan Su BHD Environmental Technology Co., Ltd (“Gan Su BHD”) was established on May 23, 2017, with registered capital of ¥50.0 million. The paid in capital was ¥27,495,000 ($3,985,765) as of December 31, 2022. BHD owned an equity interest of 49% of Gan Su BHD, and the remaining 51% equity interests was owned by an individual shareholder upon incorporation of Gan Su BHD. On September 25, 2017, the individual shareholder became the minority shareholder by transferring 2.0% equity shares to BHD. On April 26, 2021, the minority shareholder of Gan Su BHD transferred 15.4% of her equity interest to BHD. On May 19, 2021, the minority shareholder transferred 3.6% of her equity interest and BHD transferred 15.4% of its equity interest of Gan Su BHD to Nanjing Recon. There was no consideration paid for the transfers, and after the transfers, BHD owns equity an interest of 51% and Nanjing Recon owns an equity interest of 19% of Gan Su BHD, which is focusing on oilfield sewage treatment and oily sludge disposal projects. Qing Hai BHD New Energy Technology Co., Ltd. (“Qinghai BHD”) was established on October 16, 2017, with registered capital of ¥50.0 million. The paid in capital was ¥4,200,000 ($608,846) as of December 31,2022. BHD owned an equity interest of 55% of Qinghai BHD previously; however, based on an agreement signed by the shareholders of Qinghai BHD dated October 23, 2018, each of the other two individual shareholders agreed to reduce 10% of their equity interests. As a result, Qinghai BHD returned ¥200,000 paid in capital back to one of the individual shareholders. After the new arrangement, BHD owns a total interest of 75% of Qinghai BHD. The remaining paid in capital should be contributed by BHD and the other individual shareholder is ¥33,300,000 ($4,827,276) and ¥12,500,000 ($1,812,041) respectively. Based on its charter dated September 29, 2017, the remaining capital will be injected before September 29, 2036. As the energy consumption market opened to private and foreign companies, and online payment technology developed, the Domestic Companies began to invest in the downstream of the oil industry. On December 15, 2017, BHD and Nanjing Recon entered into a subscription agreement with Future Gas Station (Beijing) Technology, Ltd (“FGS”), pursuant to which the Domestic Companies acquired an 8% equity interest in FGS. Established in January 2016, FGS is a service company focusing on providing new technical applications and data operations to gas stations and provides solutions to gas stations to improve their operations and their customers’ experience. On August 21, 2018, the Domestic Companies entered into an investment agreement and a supplemental agreement (collectively, the “Investment Agreement”) with FGS and the other shareholders of FGS. Pursuant to the Investment Agreement, our VIEs’ ownership interest in FGS shall increase from 8% to 43%, in exchange for their investment in FGS for a total amount of ¥10 million in cash and the issuance of 487,057 restricted Class A Ordinary Shares to the other shareholders of FGS with certain conditions. As of June 30, 2019, the Domestic Companies invested an aggregate amount of ¥35,116,707 in FGS and issued 487,057 restricted shares in total to other shareholders of FGS, and the Domestic Companies’ ownership interest in FGS has increased to 43%. On February 4, 2021, Nanjing Recon and BHD, entered into the fourth supplemental agreement to the investment agreement with FGS and FGS’ founding shareholders to acquire 8% equity ownership of FGS. The transaction has been closed. As a result, the Domestic Companies collectively own 51% interest of FGS and began to consolidate the financial results of FGS since January 2021. Through the fourth supplemental agreement, the Domestic Companies waived the requirement on FGS’ performance goal about the number of gas stations. Accordingly, the Domestic Companies agreed to pay for the balance of the investment and cancelled the related lock-up terms on the restricted shares, in exchange of the additional 8% equity ownership of FGS. Nature of Operations Impact of COVID-19 -

LIQUIDITY

LIQUIDITY	6 Months Ended
	Dec. 31, 2022
LIQUIDITY
LIQUIDITY	NOTE 2. LIQUIDITY As disclosed in the Company’s unaudited condensed consolidated interim financial statements, the Company had a net loss for the six months ended December 31, 2022. The net loss of the Company was mainly due to loss in change in fair value of its warrant liability. As of December 31, 2022, the total future minimum purchase commitment under the non-cancellable purchase contracts were amounted to¥ 22.7 million ($ 3.3 million). In assessing its liquidity, management monitors and analyzes the Company’s cash on-hand and its ability to generate sufficient revenue sources in the future to support its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. Direct offering and debt financing in the forms of loans payable and loans from related parties have been utilized to finance the working capital requirements of the Company. On September 1, 2021, two major shareholders also renewed a 3-year commitment letter for financial support and whenever the Company has liquidity difficulty, they will provide working capital to support daily operation of the Company. Despite those negative financial trends, as of December 31, 2022, the Company had positive working capital of ¥397.2 million ($57.6 million) due to the following measurements the management has taken to enhance the Company’s liquidity: 1) The Company financed through borrowing from shareholders and senior management. As of December 31, 2022, the Company had short-term borrowings due to related parties amounted to ¥ 10.0 million ( $1.5 million), and long-term borrowings due to a related party amounted to ¥ 6.0 million ( $0.9 million). 2) The Company also financed from commercial banks. As of December 31, 2022, the Company had ¥ 11.0 million ( $1.6 million) in bank loans outstanding. The management expects that the Company will be able to renew its existing bank loan upon its maturity based on past experience and its good credit history. 3) For the six months ended December 31, 2022, the Company had approximately ¥25.9 million ( $3.8 million) cash out flow from the operating activities, however, as of December 31, 2022, the Company had cash in the amount of approximately ¥269.1 million ( $39.0 million) for the next operating cycle ending December 31, 2023. Management believes that the foregoing measures collectively will provide sufficient liquidity for the Company to meet its future liquidity needs 12 months from this report issuance date.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2022
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Unaudited Condensed Consolidated Interim Financial Statements Principles of Consolidation Variable Interest Entities Assets recognized as a result of consolidating VIEs do not represent additional assets that could be used to satisfy claims against the Company’s general assets. Conversely, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets; rather, they represent claims against the specific assets of the consolidated VIEs. Currency Translation - The Company’s functional currency is the United States dollars (“U.S. dollars”) and the unaudited condensed consolidated interim financial statements have been expressed in Chinese Yuan (“RMB”) as RMB is the Company’s reporting currency. The unaudited condensed consolidated interim financial statements as of and for the six months ended December 31, 2022 have been translated into U.S. dollars solely for the convenience of the readers. The translation has been made at the rate of ¥6.8983 = US$1.00 , the approximate exchange rate prevailing on December 31, 2022. These translated U.S. dollar amounts should not be construed as representing Chinese Yuan amounts or that the Chinese Yuan amounts have been or could be converted into U.S. dollars. Estimates and Assumptions The key assumptions underlying the Company’s accounting for material arrangements and the reasonably likely material effects of resolving any uncertainties on the Company’s allowance for credit losses related to purchase advances. The production of the Company’s products requires custom-made equipment from its suppliers. To ensure that it can secure the required customized equipment, the Company often needs to make full prepayment for its intended purchases. As a standard practice in the petroleum extraction industry, the Company generally must submit a bid in order to secure the sales contract. The bidding process generally takes between one month to one year and the timing depends on the size of the overall project, which timing and size are generally controlled by its client. In order to secure timely purchase delivery and to meet its product delivery schedule, the Company normally prepays for the purchase advances if the Company believes that it is more than likely to win the bid for the sales contract which is accounted as pre-contract costs. After winning the bid and securing the sale contract, the Company normally needs to deliver its products approximately within one week to six months. Based on the Company’s historical experience, the Company generally is able to realize its purchase advances on the customized equipment that it orders. If it subsequently confirms that the Company is unable to secure the planned contracts with a customer after making the advance payments for these planned contracts, the Company evaluates the probable recoverability of the pre-contract cost and charges to expenses when the Company determines that the recovery of such pre-contract cost is improbable. Fair Values of Financial Instruments The three levels of inputs are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable. Accounting guidance also describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The Company measures certain financial assets, including investments under the equity method on other-than-temporary basis, intangible assets and fixed assets at fair value when an impairment charge is recognized. The carrying amounts reported in the unaudited condensed consolidated interim balance sheets for trade accounts receivable, notes receivable, other receivables, purchase advances, contract cost, trade accounts payable, other payable, accrued liabilities, contract liabilities, short-term bank loan and short-term borrowings approximate fair value because of the immediate or short-term maturity of these financial instruments. Cash Restricted cash Trade Accounts, Net, Other Receivables, Net and Loan to Third Parties The adoption of the credit loss accounting standard has no material impact on the Company’s consolidated financial statements as of July 1, 2020. Accounts receivable, other receivables and loan to third parties are recognized and carried at carrying amount less an allowance for credit loss, if any. The Company maintains an allowance for credit losses resulting from the inability of its trade and non-trade customers (“customers”) to make required payments based on contractual terms. The Company reviews the collectability of its receivables on a regular and ongoing basis. The Company has also included in calculation of allowance for credit losses, the potential impact of the COVID-19 pandemic on our customers businesses and their ability to pay their accounts receivable, other receivables and loan to third parties. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. The Company also considers external factors to the specific customer, including current conditions and forecasts of economic conditions, including the potential impact of the COVID-19 pandemic. In the event the Company recovers amounts previously reserved for, the Company will reduce the specific allowance for credit losses. The provision for credit loss for the six months ended December 31, 2022 decreased slightly by approximately ¥0.5 million ($0.1 million) from the six months ended December 31, 2021. The Company evaluates the creditworthiness of all of its customers individually before accepting them and continuously monitors the recoverability of accounts receivable, other receivables and loan to third parties. If there are any indicators that a customer may not make payment, the Company may consider making provision for non-collectability for that particular customer. At the same time, the Company may cease further sales or services to such customer. The following are some of the factors that the Company considers in determining whether to discontinue sales, record as contra revenue or allowance for credit losses: ● the oil price and fluctuation of the overall oil industry; ● the customer fails to comply with its payment schedule; ● the customer is in serious financial difficulty; ● a significant dispute with the customer has occurred regarding job progress or other matters; ● the customer breaches any of the contractual obligations; ● the customer appears to be financially distressed due to economic or legal factors; ● the business between the customer and the Company is not active; and ● other objective evidence indicates non-collectability of the accounts receivable, other receivables and loan to third parties. The Company considers the following factors when determining whether to permit a longer payment period or provide other concessions to customers: ● the customer’s past payment history; ● the customer’s general risk profile, including factors such as the customer’s size, age, and public or private status; ● macroeconomic conditions that may affect a customer’s ability to pay; and ● the relative importance of the customer relationship to the Company’s business. Notes Receivable Purchase Advances, Net - Inventories, Net Property and Equipment, Net - Property and equipment are stated at cost. Depreciation on motor vehicles and office equipment is computed using the straight-line method over the estimated useful lives of the assets, which range from two to ten years . Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the assets. ​ ​ ​ ​ Items Useful life Motor vehicles 5 - 10 years Office equipment 2 - 5 years Production equipment 10 - 20 years Leasehold improvement ​ Lesser of useful life and lease term ​ Goodwill - Intangible Assets, Net – Impairment of Long-Lived Assets estimated useful life. The Company concluded that there was no impairment for the long-lived assets for the six months ended December 31, 2021 and 2022. Long-term Investments - Equity Investments with Readily Determinable Fair Values - Equity investments with readily determinable fair values are measured and recorded at fair value using the market approach based on the quoted prices in active markets at the reporting date. The Company classifies the valuation techniques that use these inputs as Level 1 of fair value measurements. ​ - Equity Investments without Readily Determinable Fair Values - After the adoption of this new accounting standard, the Company elected to record equity investments without readily determinable fair values and not accounted for under the equity method at cost, less impairment, adjusted for subsequent observable price changes on a nonrecurring basis, and report changes in the carrying value of the equity investments in current earnings. Changes in the carrying value of the equity investments are required to be made whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. The implementation guidance notes that an entity should make a “reasonable effort” to identify price changes that are known or that can reasonably be known. ​ - Equity Investments Accounted for Using the Equity Method - The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entities, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investment in privately held entities, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary. An impairment charge is recorded if the carrying amount of the investment exceeds its fair value and this condition is determined to be other-than-temporary. The Company recorded no impairment loss on its equity method investment during the six months ended December 31, 2021 and 2022. The Company recorded investment income of ¥15,411 and ¥nil on its equity method investment in unconsolidated entity during the six months ended December 31, 2021 and 2022, respectively. Business Combinations - In a business combination considered as a step acquisition, the Company remeasures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement gain or loss, if any, is recognized in the unaudited condensed consolidated interim statements of operation and comprehensive income (loss). Non-controlling Interests - Revenue Recognition Disaggregation of Revenues Revenues are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The following items represent the Company’s revenues disaggregated by revenue source. In accordance with ASC 606-10-50-5, the Company selects categories to present disaggregated revenue that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors and delivery conditions of products and fulfillment of obligations. The Company’s disaggregation of revenues for the six months ended December 31, 2021 and 2022 is disclosed in Note 26. Automation Products and Software; Equipment, Accessories and Others The Company generates revenues primarily through delivery of standard or customized products and equipment, including automation products, furnaces and related accessories. Revenue is recognized when products are delivered, and acceptance reports are signed off by customers. The sale of automation products or specialized equipment when combined with services represent a single performance obligation for the development and construction of a single asset. The Company may also provide design or installation services to clients as there may be such obligation in contracts. The promises to transfer the goods and provision of services are not separately identifiable, which is evidenced by the fact that the Company provides significant services of integrating the goods and services into a single deliverable for which the customer has contracted. For such sales arrangements, the Company recognizes revenue using input method, based on the relationship between actual costs incurred compared to the total estimated costs for the contract. Such method is adopted because the Company believes it best depicts the transfer of goods and services to the customer. Oilfield Environmental Protection Service The Company provides wastewater treatment products and related service to oilfield and chemical industry companies and generates revenue from special equipment, self-developed chemical products and supporting service, transfer. Revenue is recognized when contract obligations have been performed. For such sales arrangements, the Company recognizes revenue when products are delivered, on-site assistance services rendered, and acceptance reports are signed off by customers. Such method is adopted because the Company believes it best depicts the transfer of services to the customer. The Company provides oily sludge disposal and treatment services to oilfield companies and generates revenue from treatment services of oily sludge. Revenue is recognized when contract obligations have been performed. For such sales arrangements, the Company recognizes revenue using output method, based on the percentage-of-completion method. Such method is adopted because the Company believes it best depicts the transfer of services to the customer. Platform Outsourcing Services The Company provides online platform development, maintenance, and operation services to gas stations around different provinces in China to complete online transactions; and API (application programming interface) port export service and related maintain services to business cooperators of different industries that may have transactions in the refueling scenario during the service contract period. The Company considered these performance obligations to be indistinguishable contractual performance obligations. As the Company has no right to get the compensation for any performances completed while not accepted by its customers, the Company can only recognize revenue at a point in time, which is when the online transaction is completed. The Company’s services enable terminal users of different mobile apps run by its clients or cooperators to complete refueling in cash or online through different payment channels, when each transaction, including refueling and payment, is completed, the Company is entitled to charge with pre-settled rates of each transaction amount as service fee and recognize the underlying amount as revenue. Related fees are generally billed monthly, based on a per transaction basis. Arrangements with Multiple Performance Obligations Contracts with customers may include multiple performance obligations. For such arrangements, the Company will allocate revenues to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices based on the prices charged to customers or using expected cost-plus margin. Contract Balances The Company’s contract balances include contract costs and contract liabilities from contracts with customers, and the following table provides information about contract balances: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Contract costs ¥ 33,858,820 ¥ 27,747,782 ​ $ 4,022,409 Contract liabilities ¥ 2,107,277 ¥ 161,400 ​ $ 23,397 ​ Contract Costs, Net - Pre-Contract Costs - Pre-contract costs are the amounts prepaid to suppliers for purchases of customized equipment in anticipation of obtaining planned contracts for the Company’s hardware and software revenues. If it subsequently confirms that the Company is unable to secure the planned contracts with a customer after making the advance payments for these planned contracts, the Company evaluates the probable recoverability of the pre-contract cost and charges to expenses when the Company determines that the recovery of such pre-contract cost is improbable. ​ - Executed Contract Costs - Direct costs, such as material, labor, depreciation and amortization and subcontracting costs and indirect costs allocable to contracts include the costs of contract supervision, tools and equipment, supplies, quality control and inspection, insurance, repairs and maintenance for quality assurance purposes before clients’ initial acceptance. Once products are delivered, installed and debugged for intended use and accepted by a client, which may last from weeks to months (this process is decided by the client’s individual project construction arrangement), the Company records revenue based on the contract or the final clients’ acceptance. Minor costs for repair during the maintenance period after initial acceptance are recorded as cost of goods sold as they are incurred. All other general and administrative costs and selling costs are charged to expenses as incurred. The Company generally ships its products approximately one week to six months after production begins and the timing depends on the size of the overall project. Contract Liabilities Performance Obligations - Amounts billed to customers for shipping and handling activities to fulfill the Company’s promise to transfer the goods are included in revenues, and costs incurred by the Company for the delivery of goods are classified as cost of sales in the unaudited condensed consolidated interim statements of operations and comprehensive income (loss). Sales, value added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company generally offers assurance-type warranties for its products. The specific terms and conditions of those warranties vary depending upon the product. The Company estimates the costs that may be incurred under its warranties and records a liability in the amount of such costs at the time product revenue is recognized. Factors that affect the warranty liability include historical product-failure experience and estimated repair costs for identified matters. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. The amount accrued for expected returns and warranty claims was immaterial as of December 31, 2022. The amount of revenue recognized during the six months ended December 31, 2021 and 2022 that was previously included within contract liability balances was ¥7,339,616 and ¥1,901,277 ($275,615), respectively. Practical Expedients Elected Incremental Costs of Obtaining a Contract - The Company has elected the practical expedient permitted in ASC 340-40-25-4, which permits an entity to recognize incremental costs to obtain a contract as an expense when incurred if the amortization period will be less than one year and not significant. Significant Financing Component - The Company has elected the practical expedient permitted in ASC 606-10-32-18, which allows an entity to not adjust the promised amount of consideration for the effects of a significant financing component if a contract has a duration of one year or less. As the Company’s contracts are majorly less than one year in length, consideration will not be adjusted. For the Company’s contracts include a standard payment term of 90 days to 180 days; consequently, there is no significant financing component within contracts. There are also some new contracts that will not be completed within one year from year 2022, the Company did calculation and the amount was not material as end of this fiscal year. Share-Based Compensation - Share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense with graded vesting on a straight–line basis over the requisite service period for the entire award. The Company has elected to recognize compensation expenses using the valuation model estimated at the grant date based on the award’s fair value . Research and Development Expenses Shipping and Handling Costs - Leases Leases At the commencement date, the Company recognizes the lease liability at the present value of the lease payments not yet paid, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate for the same term as the underlying lease. The ROU asset is recognized initially at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All ROU assets are reviewed for impairment annually. There was no impairment for ROU lease assets as of December 31, 2022 and June 30, 2022. Income Taxes The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position would be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The Company has no uncertain tax position as of December 31, 2022 and June 30, 2022. As of December 31, 2022, the tax years ended December 31, 2018 through December 31, 2022 for the Company’s People’s Republic of China (“PRC”) subsidiaries remain open for statutory examination by PRC tax authorities. Comprehensive Income (Loss) - Earnings (Loss) per Share (“EPS”) The following table sets forth the computation of basic and diluted earnings per share for the six months ended December 31, 2021 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ 2021 2022 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Numerator: ​ ​ ​ Net income (loss) attributable to Recon Technology, Ltd ¥ 111,357,510 ¥ (29,876,418) ​ $ (4,330,985) ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Denominator: ​ ​ ​ 　 ​ ​ 　 ​ Weighted-average number of ordinary shares outstanding – basic ​ 27,312,581 ​ 33,800,718 ​ 33,800,718 Outstanding options/warrants/convertible notes ​ 10,393,622 ​ 10,536,433 ​ 10,536,433 Potentially dilutive shares from outstanding options/warrants/convertible notes ​ 1,464,411 ​ — ​ — Weighted-average number of ordinary shares outstanding – diluted ​ 28,776,992 ​ 33,800,718 ​ 33,800,718 ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Earnings (loss) per share – basic ¥ 4.08 ¥ (0.88) ​ $ (0.13) Earnings (loss) per share – diluted ¥ 3.87 ¥ (0.88) ​ $ (0.13) ​ Warrants For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the unaudited condensed consolidated interim statements of operations. Reclassification Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes. The Board is issuing this Update as part of its initiative to reduce complexity in accounting standards (the Simplification Initiative). The objective of the Simplification Initiative is to identify, evaluate, and improve areas of U.S. GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. The specific areas of potential simplification in this Update were submitted by stakeholders as part of the Simplification Initiative. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted this guidance on July 1, 2021 and the adoption of this ASU did not have a material impact on its unaudited condensed consolidated interim financial statements. In August 2020, the FASB issued ASU 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815 - 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU’s amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2020-06 will have on its unaudited condensed consolidated interim financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the unaudited condensed consolidated interim financial position, statements of operations and cash flows.

TRADE ACCOUNTS RECEIVABLE, NET

TRADE ACCOUNTS RECEIVABLE, NET	6 Months Ended
	Dec. 31, 2022
TRADE ACCOUNTS RECEIVABLE, NET
TRADE ACCOUNTS RECEIVABLE, NET	NOTE 4. TRADE ACCOUNTS RECEIVABLE, NET Accounts receivable, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Third Parties ​ RMB ​ (Unaudited) ​ (Unaudited) Trade accounts receivable ¥ 27,206,752 ¥ 43,387,471 ​ $ 6,289,588 Allowance for credit losses ​ (4,628,772) ​ (4,415,026) ​ (640,016) Total third-parties, net ¥ 22,577,980 ¥ 38,972,445 ​ $ 5,649,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ RMB U.S. Dollars Third Parties- long-term ​ RMB ​ (Unaudited) ​ (Unaudited) Trade accounts receivable ¥ 4,983,698 ¥ 1,304,721 ​ $ 189,137 Allowance for credit losses ​ (4,983,698) ​ (1,304,721) ​ ​ (189,137) Total third-parties, net ¥ — ¥ — ​ $ — ​ Net recovery of provision made for credit losses of accounts receivable due from third parties was ¥2,647,068 and ¥4,012,249 ($581,628) for the six months ended December 31, 2021 and 2022, respectively. The decrease in allowance for credit losses of accounts receivable due from third parties was mainly resulted by the management’s efforts in collection receivables from our customers, and as the date of this report, approximately 47.7%, or ¥18.6 million ($2.7 million) of net outstanding balance as of December 31, 2022 has been collected as of the date of the report. Movement of allowance for doubtful accounts is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Beginning balance ¥ 9,315,427 ¥ 9,612,470 ​ $ 1,393,454 Charge to (reversal of) credit losses ​ 153,329 ​ (4,012,249) ​ (581,628) Foreign currency translation adjustments ​ ​ 143,714 ​ ​ 119,526 ​ ​ 17,327 Ending balance ¥ 9,612,470 ¥ 5,719,747 ​ $ 829,153 ​

NOTES RECEIVABLE

NOTES RECEIVABLE	6 Months Ended
	Dec. 31, 2022
NOTES RECEIVABLE
NOTES RECEIVABLE	NOTE 5. NOTES RECEIVABLE Notes receivable represented the non-interest-bearing commercial bills the Company received from the customers for the purpose of collection of sales amounts, which ranged from three to six months from the date of issuance. As of June 30, 2022 and December 31, 2022, notes receivable was ¥10,828,308 and ¥8,471,941 ($1,228,120), respectively. As of June 30, 2022 and December 31, 2022, no notes were guaranteed or collateralized. As of the date of this report, 36.2%, or ¥3.1 million ($0.4 million) have been subsequently collected, and the remaining balance is expected to be collected by June 2023.

OTHER RECEIVABLES, NET

OTHER RECEIVABLES, NET	6 Months Ended
	Dec. 31, 2022
OTHER RECEIVABLES, NET
OTHER RECEIVABLES, NET	NOTE 6. OTHER RECEIVABLES, NET Other receivables, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Third Party RMB (Unaudited) (Unaudited) Business advances to officers and staffs (A) ¥ 1,441,807 ¥ 606,319 $ 87,894 Deposits for projects ​ 3,259,236 ​ 1,895,762 ​ 274,816 VAT recoverable ​ 437,095 ​ 424,668 ​ 61,561 Others ​ 2,547,520 ​ 1,629,031 ​ 236,150 Subtotal ​ ​ 7,685,658 ​ ​ 4,555,780 ​ ​ 660,421 Less: Long term portion (B) ​ ​ (1,564,381) ​ ​ (620,000) ​ ​ (89,877) Allowance for credit losses ​ (619,444) ​ (1,168,576) ​ (169,401) Other receivable - current portion ¥ 5,501,833 ​ ¥ 2,767,204 ​ $ 401,143 ​ (A) Business advances to officers and staffs represent advances for business travel and sundry expenses related to oilfield or on-site installation and inspection of products through customer approval and acceptance. (B) Long-term portion are mainly tender deposits for large-scale projects or rental contracts. These funds may not be collected back until projects are finished or contracts are completed. Net recovery of provision for credit losses of other receivables was ¥344,950 for the six months ended December 31, 2021. Provision for credit losses of other receivables was ¥549,132 ($79,604) for the six months ended December 31, 2022. Movement of allowance for credit losses is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Beginning balance ¥ 918,153 ¥ 619,444 ​ $ 89,797 Charge to (reversal of) credit losses ​ ​ (294,644) ​ ​ 549,132 ​ ​ 79,604 Less: write-off ​ (4,065) ​ — ​ — Ending balance ¥ 619,444 ¥ 1,168,576 ​ $ 169,401 ​

LOANS TO THIRD PARTIES

LOANS TO THIRD PARTIES	6 Months Ended
	Dec. 31, 2022
LOANS TO THIRD PARTIES
LOANS TO THIRD PARTIES	NOTE 7. LOANS TO THIRD PARTIES Loans to third parties consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Working fund to third party companies ¥ 50,383,822 ¥ 98,156,205 ​ $ 14,229,042 Less: Long term portion ​ ​ — ​ ​ (3,067,000) ​ ​ (444,602) Allowance for credit losses ​ — ​ — ​ — Loans to third parties - current portion ¥ 50,383,822 ¥ 95,089,205 ​ $ 13,784,440 ​ Loans to third parties are mainly used for short-term funding to support the Company’s external business partners. Most of these loans bear interest or no interest and have terms of no more than one year, except one of the loans to third party has term of one and half year. The Company periodically reviewed the loans to third parties as to whether their carrying values remain realizable. The Company believes that the risk associated with the above loans are relatively low based on the evaluation of the creditworthiness of these third-party debtors and the relationships with them. As the date of the report, approximately 4.8%, or ¥4.5 million ($0.7 million) was collected by the Company and the remaining part was expected to be paid in full by end of April 2024.

CONTRACT COSTS, NET

CONTRACT COSTS, NET	6 Months Ended
	Dec. 31, 2022
CONTRACT COSTS, NET
CONTRACT COSTS, NET	NOTE 8. CONTRACT COSTS, NET Contract costs, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars Third Party RMB (Unaudited) ​ (Unaudited) Contract costs ¥ 37,922,302 ​ ¥ 28,157,211 ​ $ 4,081,761 Allowance for credit losses (4,063,482) (409,429) ​ (59,352) Total contract costs, net ¥ 33,858,820 ​ ¥ 27,747,782 ​ $ 4,022,409 ​ As of December 31, 2022, total contracts costs, net amounted to ¥27,747,782 ($4,022,409), of which 10.3%, or ¥2.9 million ($0.4 million) have been subsequently realized as of the date of the report, and the remaining balance is expected to be utilized by December 2023. Net recovery of provision for credit losses of contract was ¥2,676,267 and ¥3,751,575 ($543,841) for the six months ended December 31, 2021 and 2022, respectively. As the progress of these contracts was delayed by the COVID-19 pandemic previously, the Company records allowance for credit losses of contract cost according to its general accounting policy. Since the pandemic is relatively under control now, most of our projects has resumed their progress and the contract costs were realized, hence, resulted in a decrease in allowance for credit losses of contract cost. The Company will continue making great efforts to prevent any unrealizable of contract costs from third parties. Movement of allowance for credit losses of contract costs is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ RMB (Unaudited) ​ (Unaudited) Beginning balance ¥ 4,548,910 ¥ 4,063,482 ​ $ 589,055 Reversal of credit losses (552,008) (3,751,575) ​ (543,841) Charge to cost of sales ​ ​ 66,580 ​ ​ 97,522 ​ ​ 14,138 Ending balance ¥ 4,063,482 ¥ 409,429 ​ $ 59,352 ​

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	6 Months Ended
	Dec. 31, 2022
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	NOTE 9. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Motor vehicles ¥ 5,312,274 ¥ 5,176,174 ​ $ 750,355 Office equipment and fixtures ​ 1,442,395 ​ 1,447,214 ​ 209,793 Production equipment ​ 31,102,055 ​ 30,884,566 ​ 4,477,127 Leasehold improvement ​ ​ — ​ ​ 2,260,000 ​ ​ 327,617 Total property and equipment ​ 37,856,724 ​ 39,767,954 ​ 5,764,892 Less: accumulated depreciation ​ (11,614,250) ​ (12,895,003) ​ (1,869,302) Less: Impairment for property and equipment ​ (768,312) ​ (768,312) ​ ​ (111,377) Property and equipment, net ¥ 25,474,162 ¥ 26,104,639 ​ $ 3,784,213 Construction in progress ​ ¥ 239,739 ​ ¥ 267,571 ​ $ 38,788 ​ Depreciation expenses was ¥1,318,517 and ¥1,602,166 ($232,255) for the six months ended December 31, 2021 and 2022, respectively. Loss from property and equipment disposal was ¥35,279 for the six months ended December 31, 2021. Gain from property and equipment disposal was ¥12,782 ($1,853) for the six months ended December 31, 2022.

BUSINESS ACQUISITION AND INVEST

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY	6 Months Ended
	Dec. 31, 2022
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY	NOTE 10. BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY (a) Step Acquisition of Future Gas Station (Beijing) Technology, Ltd (“FGS”) On August 21, 2018, the Company entered into a definitive investment agreement and a supplemental agreement (collectively, the “Agreement”) with FGS and the other shareholders of FGS. Following full performance under the Agreement, Recon will own 43% of FGS. As consideration for increasing its affiliates’ interest in FGS from 8% to 43% , the Company will (1) pay a total of RMB 10 million in cash to FGS and (2) issue 487,057 restricted Class A Ordinary Shares of the Company (the “Restricted Shares”) to the other shareholders of FGS within 30 days after FGS finalizes recording the Company’s corresponding interest at the local governmental agency. If FGS does not reach certain performance goals, the Company has the right to cancel all of the Restricted Shares and without further payment. The Restricted Shares are also subject to lock-up period requirements that vary for each of FGS shareholders, from one year to three years following issuance of the Restricted Shares. FGS has finalized recording Recon’s corresponding interest at the local governmental agency, and Recon has issued 487,057 Restricted Shares in total to the other shareholders of FGS in August 2018. On September 24, 2019, the Company signed an extension agreement with FGS and the other shareholders of FGS to postpone the Agreement to provide extra period for FGS to further fulfill the goals mentioned on the supplemental agreement. During the original contract period, FGS adjusted its operation model with an advanced improvement of its mobile applications and business model. Objected user and average Gross Merchandise Volume (“GMV”) of FGS’ mobile applications have been exceeded. FGS will need an extension to deploy its business in more provinces to complete a goal of 200 more gas stations. On March 17, 2020, the Company signed a new supplemental agreement with FGS and the other shareholders of FGS to extend another 12 months to February 2021 for FGS and its shareholders to fulfill the goals mentioned on the supplemental agreement. As of December 31, 2020, the Company owned 43% of the equity interests of FGS. The investments are accounted for using the equity method because the Company has significant influence, but no control of FGS. On February 8, 2021, and pursuant to FGS’ shareholder meeting resolution dated January 13, 2021 (“Acquisition Date”), two of the Company’s subsidiaries entered into the fourth supplemental agreement to the investment agreement with FGS and FGS’ founding shareholders to acquire 8% equity ownership of FGS, as an exchange for waiver of the requirement on FGS’ performance goal about the number of gas stations and cancellation of the related lock-up terms on the 487,057 Restricted Shares of the Company (reflecting the effect of one-for- five reverse share split) issued per the agreement signed on August 21, 2018. FGS failed to complete one of the three goals set up in the investment agreement. As a consequence, the Company shall cancel one third of the 487,057 Restricted Shares, which shall be 162,352 Restricted Shares. According to this new arrangement, the Company waived the goals and cancellation of the shares as a deemed consideration of the 8% equity. Based on the share price $1.61 on January 13, 2021, the fair value of the waived performance goal equals to ¥ 1,689,807 ($ 261,667 ). As a result, the Company owns 51% interest of FGS and this transaction was considered as a step acquisition under ASC 805 “Business Combinations”. A step acquisition gain of ¥ 979,254 arising from revaluation of previously held equity interest was recognized during the year ended June 30, 2021. The Company retained independent appraisers to advise management in the determination of the fair value of customers relationship and goodwill. The values assigned in these financial statements represent management’s best estimate of fair values as of the Acquisition Date. The carrying value of other assets and liabilities other than customer relationship and goodwill, are approximate at their fair value as of the Acquisition Date. The fair values of the identifiable assets and liabilities as at the date of the acquisitions are summarized in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Cash ¥ 471,843 ​ $ 68,400 Trade accounts receivable, net ​ 831,049 ​ 120,472 Other receivables, net ​ 144,285 ​ 20,916 Contract costs, net ​ 75,250 ​ 10,908 Prepaid expenses ​ 91,132 ​ 13,211 Property and equipment, net ​ 118,130 ​ 17,125 Intercompany receivables* ​ 6,850,000 ​ 992,998 Intangible assets- customer relationship ​ 7,000,000 ​ 1,014,743 Goodwill ​ 6,996,895 ​ 1,014,293 Trade accounts payable ​ (1,032,078) ​ (149,613) Other payables ​ (1,273,182) ​ (184,565) Other payable- related parties ​ (479,959) ​ (69,576) Deferred revenue ​ (39,786) ​ (5,768) Accrued payroll and employees’ welfare ​ (1,629,519) ​ (236,220) Taxes payable ​ (64,253) ​ (9,314) Deferred tax liability ​ (1,050,000) ​ (152,213) Total ¥ 17,009,807 ​ $ 2,465,797 ​ ​ ​ ​ ​ ​ ​ Cash considerations ​ — ​ — Deemed equity consideration to acquire 8% equity interest in FGS ​ 1,689,807 ​ 244,960 Fair value of previously held equity interest ​ 30,530,000 ​ 4,425,728 Non-controlling interest ​ 34,790,000 ​ 5,043,272 Capital contribution receivable due from non-controlling Interest ​ (50,000,000) ​ (7,248,163) Total ¥ 17,009,807 ​ $ 2,465,797 ​ *Intercompany receivables from Nanjing Recon and BHD are eliminated upon consolidation. The noncontrolling interest has been recognized at fair value net with subscription receivable on the acquisition date. Goodwill and intangible assets The excess of purchase price over the fair value of assets acquired and liabilities assumed of the business acquired was recorded as goodwill. The goodwill is not expected to be deductible for tax purposes. The identifiable goodwill acquired and the carrying value as of December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ RMB U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) Goodwill ¥ 6,996,895 ​ $ 1,014,292 Less: impairment ​ (2,266,893) ​ (328,616) The carrying value of goodwill as of December 31, 2022 ¥ 4,730,002 ​ $ 685,676 ​ The fair value of identified intangible assets, which is customer relationship, and its estimated useful lives as of December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ Useful Life ​ ​ Fair Value ​ (in Years) ​ ​ RMB ​ U.S. Dollars ​ ​ ​ ​ (Unaudited) ​ (Unaudited) ​ ​ Intangible assets - customer relationship ¥ 7,000,000 ​ $ 1,014,743 10 Less: accumulated amortization ​ (1,400,000) ​ (202,949) Total intangible assets, net as of December 31, 2022 ¥ 5,600,000 ​ $ 811,794 ​ The amortization expense of customer relationship was ¥350,000 and ¥350,000 ($50,737) for the six months ended December 31, 2021 and 2022, respectively. (b) Investment in Starry Blockchain Energy Pte. Ltd. (“Starry”) On June 3, 2021, Company entered into a share exchange agreement (the “Agreement”) with Starry, an innovative blockchain and sustainable energy technological company, and the controlling shareholders of Starry (the “Starry Controlling Shareholders”) to acquire 30% of the equity interest in Starry. Pursuant to the terms of the Agreement, the signing parties agreed that the value of 30% of the equity interest in Starry is $3,000,000. As consideration to acquire Starry’s 30% equity interest, the Company issued 316,345 unregistered, restricted Class A Ordinary Shares, based on $9.48 per share, the average closing price in the 30 trading days prior to signing this Agreement, to the Starry Controlling Shareholders. Fair value of the shares issued on the investment date, which was June 3, 2021, was ¥27,675,450, or $4,327,600, based on the closing price of $13.80 per share. On November 10, 2021, this investment agreement was terminated based on a mutual decision and the 316,345 unregistered, restricted Class A Ordinary Shares was subsequently cancelled on December 10, 2021. The Company recorded an investment income of ¥15,411 during the six months ended December 31, 2021. On November 10, 2021, the Company signed a service agreement with Starry, and as the service consideration, the Company issued 500,000 restricted Class A Ordinary Shares to Starry (See Note 19).

LEASES

LEASES	6 Months Ended
	Dec. 31, 2022
LEASES
LEASES	NOTE 11. LEASES The Company leases office spaces and land use rights under non-cancelable operating leases, with terms ranging from one to fifty years . The Company considers those renewal or termination options that are reasonably certain to be exercised in the determination of the lease term and initial measurement of right of use assets and lease liabilities. Lease expense for lease payment is recognized on a straight-line basis over the lease term. Leases with initial term of 12 months or less are not recorded on the balance sheet. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The table below presents the operating lease related assets and liabilities recorded on the balance sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Rights of use lease assets, net ¥ 6,666,759 ​ ¥ 5,038,871 $ 730,451 ​ ​ ​ ​ ​ ​ Operating lease liabilities – current 3,892,774 ​ 3,705,420 ​ 537,150 Operating lease liabilities – non-current 2,184,635 ​ 752,821 ​ 109,131 Total operating lease liabilities ¥ 6,077,409 ​ ¥ 4,458,241 ​ $ 646,281 ​ The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ June 30, ​ 2022 ​ ​ ​ 2022 ​ (Unaudited) ​ Remaining lease term and discount rate: ​ ​ ​ Weighted average remaining lease term (years) 16.18 ​ 15.31 ​ Weighted average discount rate 5.0 % 5.0 % ​ Operating lease costs and short-term lease costs for the six months ended December 31, 2021 were ¥1,737,384 and ¥316,099, respectively. Operating lease costs and short-term lease costs for the six months ended December 31, 2022 were ¥1,694,074 ($245,578) and ¥480,040 ($69,588), respectively. The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) Remainder of 2023 ¥ 2,343,837 ​ $ 339,770 2024 2,222,504 ​ 322,182 Total lease payments 4,566,341 ​ 661,952 Less: imputed interest (108,100) ​ (15,671) Present value of lease liabilities 4,458,241 ​ 646,281 Less: operating lease liabilities – current 3,705,420 ​ 537,150 Operating lease liabilities – non-current ¥ 752,821 ​ $ 109,131 ​

OTHER PAYABLES

OTHER PAYABLES	6 Months Ended
	Dec. 31, 2022
OTHER PAYABLES
OTHER PAYABLES	NOTE 12. OTHER PAYABLES Other payables consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Third Parties ​ RMB ​ (Unaudited) ​ (Unaudited) Professional service fees ​ ¥ 2,061,016 ​ ¥ 711,724 ​ $ 103,174 Distributors and employees ​ 1,009,307 ​ 939,060 ​ 136,129 Accrued expenses ​ 206,045 ​ 207,329 ​ 30,055 Others ​ 257,550 ​ 266,969 ​ 38,701 Total ¥ 3,533,918 ¥ 2,125,082 ​ $ 308,059 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Related Parties ​ RMB ​ (Unaudited) ​ (Unaudited) Expenses paid by the major shareholders ​ ¥ 1,396,419 ​ ¥ 1,675,182 ​ $ 242,840 Due to family members of the owners of BHD and FGS ​ 590,159 ​ 545,159 ​ 79,028 Due to management staff for costs incurred on behalf of the Company ​ 253,557 ​ 250,927 ​ 36,375 Total ¥ 2,240,135 ¥ 2,471,268 ​ $ 358,243 ​

TAXES PAYABLE

TAXES PAYABLE	6 Months Ended
	Dec. 31, 2022
TAXES PAYABLE
TAXES PAYABLE	NOTE 13. TAXES PAYABLE Taxes payable consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) VAT payable ¥ 1,741,972 ¥ 2,349,706 ​ $ 340,621 Income tax payable ​ 440,030 ​ 440,030 ​ 63,788 Other taxes payable ​ 28,956 ​ 95,188 ​ 13,799 Total taxes payable ¥ 2,210,958 ¥ 2,884,924 ​ $ 418,208 ​

BANK LOANS

BANK LOANS	6 Months Ended
	Dec. 31, 2022
BANK LOANS
BANK LOANS	NOTE 14. BANK LOANS Short-term bank loans consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ RMB U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Beijing Rural Commercial Bank (1) ​ ¥ 10,000,000 ​ ¥ 10,000,000 ​ $ 1,449,633 Total short-term bank loans ​ ¥ 10,000,000 ​ ¥ 10,000,000 ​ $ 1,449,633 ​ (1) On April 13, 2022, the Company entered into a loan agreement with Beijing Rural Commercial Bank to borrow ¥ 5,600,000 ( $811,795 ) as working capital for one year , which will be due on April 12, 2023. On April 13, 2022, the Company entered into a loan agreement with Beijing Rural Commercial Bank to borrow ¥ 4,400,000 ( $637,838 ) as working capital for one year , which will be due on May 12, 2023. All these loan bears a fixed interest rate of 4.6% per annum. These loans are guaranteed by one of the founders of the Company and he also pledged self-owned housing property with carrying value of approximately ¥17.6 million (approximately $2.5 million) as collateral for these loans. Interest expense for short-term bank loans was ¥262,259 and ¥227,918 ($33,040) for the six months ended December 31, 2021 and 2022, respectively. Long-term bank loan consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ December 31, ​ 2022 2022 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB (Unaudited) (Unaudited) Bank of Kunlun (2) ​ ¥ — ¥ 1,000,000 ​ $ 144,963 Total long-term bank loan ​ ¥ — ¥ 1,000,000 ​ $ 144,963 ​ (2) On August 31, 2022, the Company entered into a loan agreement with Bank of Kunlun to borrow up to ¥2,900,000 ( $420,393 ) as working capital for eighteen months , with a maturity date of February 29, 2024. The loan has a fixed interest rate of 6.0% per annum. The Company made a withdrawal in an amount of ¥1,000,000 ( $144,963 ) on August 31, 2022. The loan is guaranteed by the non-controlling shareholder of Gan Su BHD. The Company also pledged the accounts receivable from the contracts the Company entered into with CNPC as collateral for this loan, and the total value of the contracts are approximately ¥6.5 million (approximately $1.0 million). Interest expense for long-term bank loan was ¥nil and ¥16,972 ($2,460) for the six months ended December 31, 2021 and 2022, respectively.

SHORT-TERM BORROWINGS DUE TO RE

SHORT-TERM BORROWINGS DUE TO RELATED PARTIES	6 Months Ended
	Dec. 31, 2022
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES	NOTE 15. SHORT-TERM BORROWINGS DUE TO RELATED PARTIES Short-term borrowings due to related parties consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars Short-term borrowings due to related parties: ​ RMB ​ (Unaudited) ​ (Unaudited) Short-term borrowing from a founder, 4.35% annual interest, due on November 17, 2022 * ¥ 4,006,767 ¥ — ​ $ — Short-term borrowing from a founder, 4.35% annual interest, due on December 26, 2022 * ​ ​ 5,002,389 ​ ​ — ​ ​ — Short-term borrowing from a founder, 3.65% annual interest, due on December 26, 2023 ​ ​ — ​ ​ 10,005,069 ​ ​ 1,450,367 Total short-term borrowings due to related parties ¥ 9,009,156 ¥ 10,005,069 ​ $ 1,450,367 ​ * The Company repaid the loans in full on maturity date. No short-term borrowings due to related parties were guaranteed or collateralized as of June 30, 2022 and December 31, 2022. Interest expense for short-term borrowings due to related parties were ¥193,442 and ¥142,725 ($20,690) for the six months ended December 31, 2021 and 2022, respectively.

LONG-TERM BORROWINGS DUE TO REL

LONG-TERM BORROWINGS DUE TO RELATED PARTY	6 Months Ended
	Dec. 31, 2022
LONG-TERM BORROWINGS DUE TO RELATED PARTY
LONG-TERM BORROWINGS DUE TO RELATED PARTY	NOTE 16. LONG-TERM BORROWINGS DUE TO RELATED PARTY Long-term borrowings due to related party consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Long-term borrowings due to related party: ​ RMB ​ (Unaudited) ​ (Unaudited) Long-term borrowing from a founder, monthly payments of ¥ 126,135 inclusive of interest at 8.90% , ten years loan, due in November 2027. ¥ 6,510,606 ¥ 6,031,911 $ 874,405 Less: current portion ​ (999,530) ​ (1,041,981) ​ (151,049) Total long-term borrowings due to related party ¥ 5,511,076 ¥ 4,989,930 ​ $ 723,356 ​ No long-term borrowings due to related parties were guaranteed or collateralized as of June 30, 2022 and December 31, 2022. Interest expense for long-term borrowings due to related party was ¥318,735 and ¥278,116 ($40,317) for the six months ended December 31, 2021 and 2022, respectively. The future maturities of long-term borrowings due to related party as of December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Twelve months ending December 31, ​ (Unaudited) ​ (Unaudited) 2023 ¥ 1,041,981 ​ $ 151,049 2024 ​ 1,114,243 ​ 161,524 2025 ​ 1,217,558 ​ 176,501 2026 ​ 1,330,452 ​ 192,867 2027 ​ 1,327,677 ​ 192,464 Total ¥ 6,031,911 ​ $ 874,405 ​

CLASS A ORDINARY SHARES

CLASS A ORDINARY SHARES	6 Months Ended
	Dec. 31, 2022
CLASS A ORDINARY SHARES
CLASS A ORDINARY SHARES	NOTE 17. CLASS A ORDINARY SHARES Share offering On December 10, 2019, the Company’s Board approved to effect a one-for- five reverse share split of its Class A Ordinary Shares (the “Reverse Share Split”) with the market effective date of December 27, 2019, such that the number of the Company’s Class A Ordinary Shares is decreased from 100,000,000 to 20,000,000 and the par value of each Class A Ordinary Share is increased from US $0.0185 to US $0.0925 (¥ 0.62 ). As a result of the Reverse Share Split, each five pre-split Class A Ordinary Shares outstanding were automatically combined and converted to one issued and outstanding Class A Ordinary Share without any action on the part of the shareholder. No fractional Class A Ordinary Shares were issued to any shareholders in connection with the reverse share split. Each shareholder was entitled to receive one Class A Ordinary Share in lieu of the fractional share that would have resulted from the reverse share split. As of December 26, 2019 (immediately prior to the effective date), there were 23,049,639 Class A Ordinary Shares outstanding, and the number of Class A Ordinary Shares outstanding after the Reverse Share Split is 4,611,720 , taking into account of the effect of rounding fractional shares into whole shares. In addition, all options and any other securities of the Company outstanding immediately prior to the Reverse Share Split (to the extent they don’t provide otherwise) will be appropriately adjusted by dividing the number of Class A Ordinary Shares into which the options and other securities are exercisable by 5 and multiplying the exercise price thereof by 5, as a result of the Reverse Share Split. ​ On April 5, 2021, the Company held its annual general meeting of shareholders (the “Annual Meeting”) for the fiscal year ended June 30, 2020. At the Annual Meeting, the Company’s shareholders approved a special resolution that the authorized share capital of the Company be amended from US$1,850,000 divided into 20,000,000 Class B Ordinary Shares of a nominal or par value of US$0.0925 each, to US$15,725,000 divided into 150,000,000 Class A Ordinary Shares of a nominal or par value of US$0.0925 (¥0.62) each, and 20,000,000 Class B Ordinary Shares of a nominal or par value of US$0.0925 (¥0.62) each. The change from Ordinary Shares to Class A Ordinary Shares is reflected with the NASDAQ Capital Market and in the marketplace at the open of business on April 12, 2021, whereupon the Class A Ordinary Shares began trading. The Company’s Class A Ordinary Shares will continue to trade on the NASDAQ Capital Market under the symbol “RCON” and under the CUSIP Number of G7415M124. Holders of Class A Ordinary Shares and Class B Ordinary Shares shall at all times vote together as one class on all resolutions submitted to a vote by the Members. Each Class A Ordinary Share shall be entitled to one (1) vote on all matters subject to vote at general meetings of the Company, and each Class B Ordinary Share shall be entitled to fifteen (15) votes on all matters subject to vote at general meetings of the Company. ​ On June 14, 2021, the Company and certain institutional investors (the “Purchasers”) entered into that certain securities purchase agreement (the “Purchase Agreement”), pursuant to which the Company agreed to sell to such Purchasers an aggregate of 6,014,102 Class A Ordinary Shares, par value $0.0925 per share and 2,800,000 pre-funded warrants (the “Pre-Funded Warrants”) to purchase Class A Ordinary Shares in a registered direct offering, and warrants to purchase up to 8,814,102 Class A Ordinary Shares (the “Warrants”) in a concurrent private placement, for gross proceeds of approximately $55.0 million (the “Offering”) before deducting the placement agent’s fees and other offering expenses in an aggregate amount of ¥30,408,264, or $4.7 million. ​ The following table summarizes the Company’s Pre-Funded Warrants activities and status of Pre-Funded Warrants as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Average ​ Remaining ​ ​ Pre-Funded ​ Exercise Price ​ Period Pre-Funded Warrants ​ Warrants ​ Per Share ​ (Years) Outstanding as of June 30, 2021 1,470,000 ​ $ 0.01 5.46 Issued — ​ — — Forfeited — ​ — — Exercised (1,470,000) ​ $ 0.01 — Expired — ​ — — Outstanding as of June 30, 2022 — ​ $ — — Issued — ​ — — Forfeited — ​ — — Exercised — ​ — — Expired — ​ — — Outstanding as of December 31, 2022 — ​ $ — — ​ Appropriated Retained Earnings According to the Memorandum and Articles of Association, the Company is required to transfer a certain portion of its net profit, as determined under PRC accounting regulations, from current net income to the statutory reserve fund. In accordance with the PRC Company Law, companies are required to transfer 10% of their profit after tax, as determined in accordance with PRC accounting standards and regulations, to the statutory reserves until such reserves reach 50% of the registered capital or paid-in capital of the companies. As of June 30, 2022 and December 31, 2022, the balance of total statutory reserves was ¥4,148,929 and ¥4,148,929 ($601,442), respectively.

ORDINARY SHARES PURCHASE WARRAN

ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS	6 Months Ended
	Dec. 31, 2022
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS	NOTE 18. ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS In May and June 2020, the Company consummated two offerings. In connection with the offering, the Company issued to the investors warrants to purchase an aggregate of 911,112 Class A ordinary shares at an exercise price of $2.25 per Class A ordinary share, which was amended to $1.25 per Class A ordinary share on the second offering on June 30, 2020. These warrants are exercisable at any time, and from time to time, in whole or in part, commencing on May 26, 2020 and expire on November 25, 2025. The fair value of these warrants, using the Black-Scholes option pricing model, on the date of issuance was $1,689,389 . Variables used in the option-pricing model include (1) risk-free interest rate at the date of grant ( 0.40% ), (2) expected warrant life of 5.5 years, (3) expected volatility of 99.50% , and (4) expected dividend yield of 0 . As of June 30, 2021, all warrants were exercised and all the underlying shares were issued. In June 2020, the Company issued to the investors warrants to purchase an aggregate of 1,680,000 Class A ordinary shares at an exercise price of $1.25 per Class A ordinary share. These warrants are exercisable at any time, and from time to time, in whole or in part, commencing on June 30, 2020 and expire on December 30, 2025. The fair value of these warrants, using the Black-Scholes option pricing model, on the date of issuance was $1,639,333 . Variables used in the option-pricing model include (1) risk-free interest rate at the date of grant ( 0.35% ), (2) expected warrant life of 5.5 years, (3) expected volatility of 104.26% , and (4) expected dividend yield of 0 . As of June 30, 2021, all warrants were exercised. ​ In June 2021, the Company issued to some institutional investors warrants to purchase an aggregate of up to 8,814,102 Class A Ordinary Shares. The warrants are subject to deemed-liquidation redemption features and are therefore classified as a liability in accordance with FASB ASC 480. ​ The key inputs into the Black-Scholes model were as follows at their measurement dates: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 14, 2021 ​ ​ December 31, ​ June 30, ​ (Initial Input 2022 2022 measurement) ​ Share price 1.26 ​ $ 0.66 5.01 ​ Risk-free interest rate 4.11 % 3.00 % 0.90 % Volatility 108 % 109 % 111 % Exercise price 6.24 ​ 6.24 6.24 ​ Warrant life 3.96 years ​ 4.46 years ​ 5.50 years ​ ​ The following table presents information about the Company’s warrants that were measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2022, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices In Significant Other Significant Other ​ ​ June 30, ​ Active Markets ​ Observable Inputs ​ Unobservable Inputs Description ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Liabilities: ​ ​ ​ ​ Warrant liability ​ $ 2,490,000 ​ $ — ​ $ — ​ $ 2,490,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices In Significant Other Significant Other ​ ​ December 31, ​ Active Markets ​ Observable Inputs ​ Unobservable Inputs ​ ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Description ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Liabilities: ​ ​ ​ ​ Warrant liability ​ $ 5,370,000 ​ $ — ​ $ — ​ $ 5,370,000 ​ The following table summarizes the Company’s Warrants activities and status of Warrants as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ Exercise Price ​ Period Warrants ​ Warrants ​ Per Share ​ (Years) Outstanding as of June 30, 2021 8,814,102 ​ $ 6.24 5.46 Issued — ​ — Forfeited — ​ — Exercised — ​ — Expired — ​ — Outstanding as of June 30, 2022 8,814,102 ​ $ 6.24 4.46 Issued — ​ — Forfeited — ​ — Exercised — ​ — Expired — ​ — Outstanding as of December 31, 2022 8,814,102 ​ $ 6.24 3.96 ​

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Dec. 31, 2022
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION	NOTE 19. SHARE-BASED COMPENSATION Share-Based Awards Plan The following is a summary of the share options activity: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Exercise Price Share Options ​ Shares ​ Per Share Outstanding as of June 30, 2021 109,520 ​ $ 10.02 Granted — ​ — Forfeited (29,520) ​ 14.80 Exercised — ​ — Expired ​ — ​ — Outstanding as of June 30, 2022 80,000 ​ $ 8.25 Granted — ​ — Forfeited — ​ — Exercised — ​ — Expired ​ — ​ ​ — Outstanding as of December 31, 2022 80,000 ​ $ 8.25 ​ The following is a summary of the status of options outstanding and exercisable as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Options ​ Exercisable Options ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ Remaining Average Exercise ​ ​ Contractual ​ Average Exercise ​ ​ Contractual Price ​ Number life (Years) ​ Price ​ Number life (Years) $ 8.25 80,000 2.09 ​ $ 8.25 80,000 2.09 ​ ​ 80,000 ​ ​ The Share-based compensation expense recorded for stock options granted were both ¥Nil for the six months ended December 31, 2021 and 2022, respectively. No unrecognized share-based compensation for stock options as of December 31, 2022. Restricted Shares to Senior Management As of December 31, 2022, the Company has granted restricted Class A Ordinary Shares to senior management and employees as follows: On August 21, 2018, the Company granted 391,200 restricted shares to its employees as compensation cost for awards. The fair value of the restricted shares was $2,523,240 based on the closing share price $6.45 at August 21, 2018. These restricted shares will vest over three years with one-third of the shares vesting every year from the grant date. All granted shares under this plan are fully vested on September 3, 2021. On February 28, 2022, the Company granted 1,642,331 Class A shares to its employees as compensation cost for awards. The fair value of the restricted shares was $1,708,024 based on the closing share price $1.04 at February 28, 2022.These restricted shares will vest over three years with one-third of the shares vesting every year from the grant date. No shares under this plan are vested as the date of this report. 128,672 and nil restricted Class A restricted shares were issued and outstanding for the six months ended December 31, 2021 and 2022, respectively, for all the plans mentioned above. As of December 31, 2022, the Company has granted restricted Class B Ordinary Shares to senior management as follows: On December 5, 2021, the Company granted 2,500,000 restricted shares to its management as compensation cost for awards. The fair value of the restricted shares was $4,175,000 based on the fair value of the share price $1.67 at December 5, 2021. These restricted shares vested immediately on the grant date. All granted shares under this plan are issued and outstanding on December 5, 2021. On February 28, 2022, the Company granted 1,600,000 restricted shares to its management as compensation cost for awards. The fair value of the restricted shares was $1,694,000 based on the fair value of share price $1.06 at February 28, 2022. These restricted shares vested immediately on the grant date. All granted shares under this plan are issued and outstanding on February 28, 2022. 2,500,000 and nil restricted Class B restricted shares were issued and outstanding for the six months ended December 31, 2021 and 2022, respectively, for all the plans mentioned above. The share-based compensation expense recorded for restricted shares issued for management was ¥ 27,375,871 and ¥ 1,796,417 ( $260,414 ) for the six months ended December 31, 2021 and 2022, respectively. The total unrecognized share-based compensation expense of restricted shares issued for management and employees as of December 31, 2022 was approximately ¥8.5 million ( $1.2 million), which is expected to be recognized over a weighted average period of approximately 2.16 years. Restricted Shares for service As of December 31, 2022, the Company has granted restricted Class A Ordinary Shares to consultant as follows: On November 10, 2021, the Company signed a service agreement with Starry. As the service consideration, the Company should issue 500,000 restricted Class A Ordinary Shares which vested in equal monthly amounts through the end of December 31, 2021. Half of the restricted Class A Ordinary Shares was valued based on the closing share price of $1.60 on December 10, 2021 and the other half was valued based on the closing share price of $1.31 on December 31, 2021. 250,000 restricted Class A Ordinary Shares were issued on December 10, 2021 and the remaining 250,000 restricted Class A Ordinary Shares were issued in January 2022. On January 5, 2022, the Company signed a consulting agreement with Lintec Information Ltd (the “Consultant”). As the service consideration, the Company issued 1,050,000 restricted Class A Ordinary Shares with a value of $1,354,500 based on the closing share price of $1.29 on January 5, 2022 to the Consultant on January 5, 2022 as payment for being the Company’s investment and financial advisor for a period of one year. The vesting period of these shares was one year from the date of contract. All of the restricted shares were issued under this plan on January 5, 2022 and all of the granted shares under this plan was vested as of December 31, 2022. 250,000 and nil restricted Class A restricted shares were issued and outstanding for the six months ended December 31, 2021 and 2022, respectively, for all the plans mentioned above. The share-based compensation expense recorded for restricted shares issued for service was ¥4,631,063 and ¥4,304,857 ($624,046) for the six months ended December 31, 2021 and 2022, respectively. The total unrecognized share-based compensation expense of restricted shares issued for service as of December 31, 2022 was ¥nil. Following is a summary of the restricted shares granted: ​ ​ ​ Restricted share grants Shares Non-vested as of June 30, 2021 130,400 Granted 7,292,331 Vested (5,255,400) Non-vested as of June 30, 2022 2,167,331 Granted — Vested (525,000) Non-vested as of December 31, 2022 1,642,331 ​ The following is a summary of the status of restricted share at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ Outstanding Restricted Shares ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Remaining Fair Value per ​ ​ ​ Amortization Share Number Period (Years) $ 1.04 1,642,331 2.16 ​ ​ 1,642,331 ​ ​ ​

INCOME TAX

INCOME TAX	6 Months Ended
	Dec. 31, 2022
INCOME TAX
INCOME TAX	NOTE 20. INCOME TAX The Company is not subject to any income taxes in the United States or the Cayman Islands and had minimal operations in jurisdictions other than the PRC. BHD and Nanjing Recon are subject to PRC’s income taxes as PRC domestic companies. The Company follows Implementing Rules for the Enterprise Income Tax Law (“Implementing Rules”), which took effect on January 1, 2008 and unified the income tax rate for domestic-invested and foreign-invested enterprises at 25%. Nanjing Recon was approved as a government-certified high-technology company and is subject to a reduced income tax rate of 15% through November 30, 2019. Nanjing Recon reapplied for a high-technology company certificate, and the new certificate was approved as November 22, 2019 and will expire on November 22, 2022. Nanjing Recon reapplied for a high-technology company certificate, and the new certificate was approved as October 12, 2022 and will expire on October 12, 2025. As approved by the domestic tax authority in the PRC, BHD was recognized as a government-certified high-technology company on November 25, 2009 and is subject to a reduced income tax rate of 15% through November 25, 2018. BHD reapplied for a high-technology company certificate, and the new certificate was approved as October 31, 2018 and expired on October 31, 2021. BHD reapplied for a high-technology company certificate, and the new certificate was approved as December 17, 2021 and will expire on December 17, 2024. Income (loss) before provision for income taxes consisted of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 2022 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Outside China areas ¥ 111,262,428 ¥ (32,395,145) ​ $ (4,696,108) China ​ 224,203 ​ 2,531,634 ​ 366,994 Total ¥ 111,486,631 ¥ (29,863,511) ​ $ (4,329,114) ​ Deferred tax assets, net is composed of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, June 30, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ¥ 1,781,573 ¥ 742,481 ​ $ 107,632 Impairment for inventory ​ 59,913 ​ 51,745 ​ ​ 7,501 Net operating loss carryforwards ​ 16,511,047 ​ 17,979,524 ​ ​ 2,606,369 Subtotal ​ ​ 18,352,533 ​ ​ 18,773,750 ​ ​ 2,721,502 Less: Valuation allowance ​ ​ (17,193,874) ​ ​ (17,653,971) ​ ​ (2,559,176) Total deferred tax assets, net ​ ​ 1,158,659 ​ ​ 1,119,779 ​ ​ 162,326 Deferred tax liabilities: ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ ​ Accelerated amortization of intangible assets ​ ​ (119,271) ​ ​ (132,891) ​ ​ (19,264) Gain on the previously held equity method investment ​ ​ (146,888) ​ ​ (146,888) ​ ​ (21,293) Recognition of customer relationship arising from business combinations ​ ​ (892,500) ​ ​ (840,000) ​ ​ (121,769) Total deferred tax liabilities ​ (1,158,659) ​ (1,119,779) ​ ​ (162,326) Deferred tax assets, net ¥ — ¥ — ​ $ — ​ The Company’s subsidiaries, VIEs and VIEs’ subsidiaries incurred a cumulative net operating loss (“NOL”) which may reduce future corporate taxable income. As of June 30, 2022, the cumulative NOL was approximately ¥94.6million. During the six months ended December 31, 2022, the Company’s subsidiaries, VIEs and VIEs’ subsidiaries incurred an additional NOL carryforwards of approximately ¥8.3 million ($1.2 million), resulting in a cumulative NOL carryforwards of approximately ¥102.9 million ($14.9 million) as of December 31, 2022. ​ The NOL will expire over the next five years as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Twelve months ending December 31, ​ (Unaudited) ​ (Unaudited) 2023 ¥ 13,146,922 ​ $ 1,905,821 2024 ​ 10,484,902 ​ 1,519,925 2025 ​ 19,617,124 ​ 2,843,762 2026 ​ 32,533,742 ​ 4,716,197 2027 ​ 27,137,905 ​ 3,933,999 Total ¥ 102,920,595 ​ $ 14,919,704 ​ The Company’s income tax expense is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ 2021 2022 2022 ​ RMB RMB U.S. Dollars ​ (Unaudited) (Unaudited) ​ (Unaudited) Current income tax provision ¥ 2,889 ¥ 9,180 ​ $ 1,331 Deferred income tax provision ​ 104,315 ​ — ​ — Expense for income tax ¥ 107,204 ¥ 9,180 ​ $ 1,331 ​

NON-CONTROLLING INTEREST

NON-CONTROLLING INTEREST	6 Months Ended
	Dec. 31, 2022
NON-CONTROLLING INTEREST.
NON-CONTROLLING INTEREST	NOTE 21. NON-CONTROLLING INTEREST Non-controlling interest consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2022 ​ ​ Nanjing Gan Su Qinghai ​ ​ ​ ​ ​ ​ ​ ​ BHD ​ Recon ​ BHD ​ BHD ​ FGS Total ​ Total ​ ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB RMB ​ U.S. Dollars Paid-in capital ¥ 1,651,000 ¥ 200,000 ¥ 4,805,000 ​ ¥ — ​ ¥ — ​ ¥ 6,656,000 ​ $ 993,771 Capital contribution receivable due from non-controlling Interest ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (48,870,000) ​ ​ (48,870,000) ​ ​ (7,296,511) Unappropriated retained earnings (deficit) ​ ​ 3,477,493 ​ ​ 3,616,001 ​ ​ (4,972,129) ​ ​ (1,520,225) ​ ​ (893,405) ​ ​ (292,265) ​ ​ (43,635) Accumulated other comprehensive loss ​ (18,850) ​ (11,853) ​ — ​ ​ — ​ ​ — ​ ​ (30,703) ​ (4,584) Valuation increase shared by minority shareholders ​ — ​ — ​ — ​ ​ — ​ ​ 34,790,000 ​ ​ 34,790,000 ​ 5,194,303 Total non-controlling interests ¥ 5,109,643 ¥ 3,804,148 ¥ (167,129) ​ ¥ (1,520,225) ​ ​ (14,973,405) ​ ¥ (7,746,968) ​ $ (1,156,656) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ Nanjing Gan Su Qinghai ​ ​ ​ ​ ​ ​ ​ ​ BHD ​ Recon ​ BHD ​ BHD ​ FGS ​ Total ​ Total ​ ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB ​ U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Paid-in capital ¥ 1,651,000 ¥ 200,000 ¥ 4,805,000 ​ ¥ — ​ ¥ — ​ ¥ 6,656,000 ​ $ 964,875 Capital contribution receivable due from non-controlling Interest ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (48,870,000) ​ ​ (48,870,000) ​ ​ (7,084,354) Unappropriated retained earnings (deficit) ​ ​ 3,477,493 ​ ​ 4,184,740 ​ ​ (5,512,944) ​ ​ (1,541,330) ​ ​ (896,497) ​ ​ (288,538) ​ ​ (41,826) Accumulated other comprehensive loss ​ (18,850) ​ (11,853) ​ — ​ ​ — ​ ​ — ​ ​ (30,703) ​ (4,451) Valuation increase shared by minority shareholders ​ — ​ — ​ — ​ ​ — ​ ​ 34,790,000 ​ ​ 34,790,000 ​ 5,043,272 Total non-controlling interests ¥ 5,109,643 ¥ 4,372,887 ¥ (707,944) ​ ¥ (1,541,330) ​ ​ (14,976,497) ​ ¥ (7,743,241) ​ $ (1,122,484) ​

CONCENTRATIONS

CONCENTRATIONS	6 Months Ended
	Dec. 31, 2022
CONCENTRATIONS
CONCENTRATIONS	NOTE Credit risk ​ As of June 30, 2022 and December 31, 2022, approximately ¥20.3 million and ¥58.2 million ($8.4 million) of the Company’s cash was on deposit at financial institutions in the PRC, respectively. Per PRC regulations, the maximum insured bank deposit amount is RMB500,000 for each financial institution. The Company’s total unprotected cash held in banks amounted to approximately ¥17.8 million and ¥54.0 million ($7.8 million) as of June 30, 2022 and December 31, 2022, respectively. As of June 30, 2022 and December 31, 2022, approximately ¥297.2 million and ¥211.5 million ($30.7 million) of the Company’s cash was on deposit at financial institutions in the Hong Kong, respectively. Per Hong Kong regulations, the maximum insured bank deposit amount is HKD 500,000 for each financial institution. The Company’s total unprotected cash held in banks amounted to approximately ¥296.8 million and ¥209.4 million ($30.4 million) as of June 30, 2022 and December 31, 2022, respectively. ​ Customer concentration risk ​ For the six months ended December 31, 2021, CNPC represented 48%, SINOPEC represented 26%, and another customer represented 14% of the Company’s total revenue, respectively. At December 31, 2021, CNPC accounted for 54%, SINOPEC represented 13% and another customer accounted for 13% of the Company’s trade accounts receivable, net, respectively. ​ For the six months ended December 31, 2022, CNPC represented 41%, SINOPEC represented 31%, and another customer represented 10% of the Company’s total revenue, respectively. At December 31, 2022, CNPC accounted for 43%, SINOPEC represented 18% and another customer accounted for 14% of the Company’s trade accounts receivable, net, respectively.

COMMITMENTS AND CONTINGENCY

COMMITMENTS AND CONTINGENCY	6 Months Ended
	Dec. 31, 2022
COMMITMENTS AND CONTINGENCY
COMMITMENTS AND CONTINGENCY	NOTE 23. COMMITMENTS AND CONTINGENCY (a) Contingency Severance payments The Labor Contract Law of the PRC requires employers to assure the liability of severance payments if employees are terminated and have been working for the employers for at least two years prior to January 1, 2008. The employers will be liable for one month of severance pay for each year of the service provided by the employees. As of December 31, 2022, the Company estimated its severance payments of approximately ¥7.4 million ($1.1 million) which has not been reflected in its unaudited condensed consolidated interim financial statements, because management cannot predict what the actual payment, if any, will be in the future. Legal contingencies ​ On December 1, 2021, Henan Puxinfangfu Construction Engineering Co., Ltd. (“the Plaintiff”) submitted a Civil Complaint to the People’s Court of Suzhou District, Jiuquan City, Gansu Province (the “Court”) against Gan Su BHD. The complaint requested that Gan Su BHD shall make the compensation to the Plaintiff for the outstanding trade payable plus the interest, and the litigation fee in this case shall be borne by Gan Su BHD. The Plaintiff also applied for property preservation before litigation to preserve the bank account of the Company. On December 1, 2021, the Court issued a judgement and approximately ¥0.7 million ($0.1 million) of Gan Su BHD’s bank balance was became restricted for one year. On April 7, 2022 and June 9, 2022, the Court issued first and second judgement which stated that the case to transfer to Yumen People’s Court for jurisdiction. As of December 31, 2022, Gan Su BHD recorded ¥1.82 million (approximately $0.3 million) trade account payable due to the Plaintiff, and the compensation claimed by the Plaintiff was approximately ¥2.0 million (approximately $0.3 million). On January 9, 2023, the People’s Court of Yumen City, Gansu Province issued its civil judgement, pursuant to which the Company is required to pay the Plaintiff a settlement payment totaling approximately ¥1.8 million (approximately $0.3 million), including the money compensation and interests. ​ (b) Purchase commitment The total future minimum purchase commitment under the non-cancellable purchase contracts as of December 31, 2022 are payable as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB ​ U.S. Dollars Twelve months ending December 31, ​ (Unaudited) ​ (Unaudited) 2023 ​ ¥ 22,135,714 ​ $ 3,208,865 2024 ​ ​ 300,000 ​ ​ 43,489 2025 ​ ​ 300,000 ​ ​ 43,489 Total minimum payments required ¥ 22,735,714 ​ $ 3,295,843 ​ (c) Office Leases Commitment - short term ​ The Company entered into several non-cancellable operating lease agreements for office spaces. Future payments under such leases were included in lease liabilities as disclosed in Note 11, other than those within under lease agreements within one year which are disclosed as follows as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Twelve months ending December 30, ​ (Unaudited) ​ (Unaudited) 2023 ¥ 764,700 ​ $ 110,853 Total ¥ 764,700 ​ $ 110,853 ​

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	6 Months Ended
	Dec. 31, 2022
RELATED PARTY TRANSACTIONS AND BALANCES
RELATED PARTY TRANSACTIONS AND BALANCES	NOTE 24. RELATED PARTY TRANSACTIONS AND BALANCES Prepaid expenses - related parties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2022 ​ ​ June 30, 2022 ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Founders ¥ 275,000 ¥ — ​ $ — Founders’ family member ​ — ​ — ​ — Total prepaid expenses - related parties ¥ 275,000 ¥ — ​ $ — ​ Leases from related parties - ​ The details of leases from related parties are as below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Monthly Rent Monthly Rent Lessee Lessor Rent Period RMB USD Nanjing Recon One of the founders April 1, 2022 - March 31, 2024 ¥ 40,000 ​ $ 5,799 BHD One of the founders January 1, 2023- Dec 31, 2023 ​ 31,667 ​ 4,591 BHD One of the founders January 1, 2023- Dec 31, 2023 ​ 22,500 ​ 3,262 ​ As of June 30, 2022, the operating lease ROU assets and corresponding operating lease liabilities of leases from related parties was ¥765,241 and ¥765,241, respectively. As of December 31, 2022, the operating lease ROU assets and corresponding operating lease liabilities of leases from related parties was ¥553,226 ($80,197) and ¥553,226 ($80,197), respectively. Guarantee/collateral related parties

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Dec. 31, 2022
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES	NOTE 25. VARIABLE INTEREST ENTITIES VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. All VIEs and their subsidiaries with which the Company is involved must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. The primary beneficiary is required to consolidate the VIE for financial reporting purposes. Summary information regarding consolidated VIEs and their subsidiaries is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2022 ​ December 31, 2022 ​ ​ RMB U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) ASSETS ​ ​ ​ ​ ​ ​ ​ Current Assets ​ ​ ​ ​ ​ ​ ​ Cash ¥ 18,033,666 ​ ¥ 49,727,112 ​ $ 7,102,772 Restricted cash ​ ​ 723,560 ​ ​ 730,060 ​ ​ 105,832 Notes receivable ​ 10,828,308 ​ ​ 8,471,941 ​ 1,228,120 Trade accounts receivable, net ​ 22,577,980 ​ ​ 38,972,445 ​ 5,649,572 Inventories, net ​ ​ 3,894,369 ​ ​ 4,941,662 ​ ​ 716,359 Other receivables, net ​ ​ 5,500,981 ​ ​ 2,502,247 ​ ​ 362,734 Loans to third parties ​ ​ 30,270,563 ​ ​ 33,418,403 ​ ​ 4,844,440 Purchase advances, net ​ ​ 178,208 ​ ​ 554,700 ​ ​ 80,411 Contract costs, net ​ ​ 33,858,820 ​ ​ 27,747,782 ​ ​ 4,022,409 Prepaid expenses ​ ​ 165,120 ​ ​ 158,498 ​ ​ 22,976 Prepaid expenses- related parties ​ 275,000 ​ ​ — ​ — Total current assets ​ 126,306,575 ​ ​ 167,224,850 ​ ​ 24,135,625 ​ ​ ​ 　 ​ ​ ​ ​ ​ ​ ​ Property and equipment, net ​ ​ 25,474,162 ​ ​ 26,104,639 ​ ​ 3,784,213 Construction in progress ​ ​ 239,739 ​ ​ 267,571 ​ ​ 38,788 Intangible assets, net ​ ​ 5,950,000 ​ ​ 5,600,000 ​ ​ 811,794 Long-term other receivables, net ​ ​ 1,564,381 ​ ​ 620,000 ​ ​ 89,877 Long-term loan to a third party ​ ​ — ​ ​ 3,067,000 ​ ​ 444,602 Goodwill ​ ​ 4,730,002 ​ ​ 4,730,002 ​ ​ 685,676 Operating lease right-of-use assets ​ ​ 6,666,759 ​ ​ 5,038,871 ​ ​ 730,451 Total Assets ¥ 170,931,618 ​ ¥ 212,652,933 ​ $ 30,721,026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES ​ ​ ​ ​ ​ ​ ​ Short-term bank loans ¥ 10,000,000 ​ ¥ 10,000,000 ​ $ 1,449,633 Trade accounts payable ​ ​ 12,826,108 ​ ​ 12,956,285 ​ ​ 1,878,185 Other payables ​ ​ 1,469,761 ​ ​ 1,419,624 ​ ​ 205,793 Other payable- related parties ​ ​ 1,061,081 ​ ​ 1,260,100 ​ ​ 182,668 Contract liabilities ​ ​ 2,107,277 ​ ​ 161,400 ​ ​ 23,397 Accrued payroll and employees’ welfare ​ ​ 1,213,040 ​ ​ 1,093,689 ​ ​ 158,545 Intercompany payables* ​ ​ 194,373,010 ​ ​ 238,313,051 ​ ​ 34,546,635 Taxes payable ​ ​ 2,211,190 ​ ​ 2,885,155 ​ ​ 418,241 Short-term borrowings - related parties ​ 9,009,156 ​ 10,005,069 ​ 1,450,367 Long-term borrowings - related party - current portion ​ 999,530 ​ 1,041,981 ​ 151,049 Operating lease liabilities - current ​ 3,892,774 ​ 3,705,420 ​ 537,150 Total current liabilities ​ ​ 239,162,927 ​ ​ 282,841,774 ​ ​ 41,001,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities - non-current ​ 2,184,635 ​ 752,821 ​ 109,131 Long-term bank loan ​ ​ — ​ ​ 1,000,000 ​ ​ 144,963 Long-term borrowings - related party ​ 5,511,076 ​ 4,989,930 ​ ​ 723,356 Deferred tax liability ​ ​ 187,972 ​ ​ 187,972 ​ ​ 27,249 Total Liabilities ​ ¥ 247,046,610 ​ ¥ 289,772,497 ​ $ 42,006,362 ​ *Intercompany payables are eliminated upon consolidation. The financial performance of VIEs and their subsidiaries reported in the unaudited condensed consolidated interim statement of operations and comprehensive income for the six months ended December 31, 2021 includes revenues of ¥54,411,724, operating expenses of ¥8,975,330, and net income of ¥841,261. The financial performance of VIEs and their subsidiaries reported in the unaudited condensed consolidated interim statement of operations and comprehensive income for the six months ended December 31, 2022 includes revenues of ¥45,559,591 ($6,604,466), operating expenses of ¥11,643,918 ($1,687,940), and net income of ¥2,974,474 ($431,189).

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Dec. 31, 2022
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 26. SEGMENT REPORTING ASC 280, “Segment Reporting,” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different products. Based on management’s assessment, the Company has determined that it has four operating segments: automation product and software, equipment and accessories, oilfield environmental protection and platform outsourcing services. The following tables present summary information by segment for the six months ended December 31, 2021 and 2022, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ RMB RMB U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Automation product and software ¥ 23,859,815 ¥ 19,055,227 ​ $ 2,762,307 Equipment, accessories and others ​ 6,187,975 ​ 9,730,859 ​ 1,410,617 Oilfield environmental protection ​ ​ 19,735,430 ​ ​ 12,789,684 ​ ​ 1,854,034 Platform Outsourcing Services ​ 4,628,504 ​ 3,983,821 ​ 577,508 Total revenue ¥ 54,411,724 ¥ 45,559,591 ​ $ 6,604,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, 2022 ​ Automation Equipment, Oilfield Platform ​ ​ ​ ​ product and ​ accessories ​ environmental ​ outsourcing ​ ​ ​ ​ ​ software ​ and others ​ protection ​ services ​ Total ​ ​ RMB ​ RMB ​ RMB ​ ​ RMB RMB ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ ​ (Unaudited) (Unaudited) Revenue ¥ 19,055,227 ¥ 9,730,859 ¥ 12,789,684 ​ ¥ 3,983,821 ¥ 45,559,591 Cost of revenue and related tax ​ 14,955,185 ​ 6,254,015 ​ 9,988,100 ​ ​ 1,230,472 ​ 32,427,772 Gross profit ¥ 4,100,042 ¥ 3,476,844 ¥ 2,801,584 ​ ¥ 2,753,349 ¥ 13,131,819 Depreciation and amortization ¥ 524,970 ¥ 358,954 ¥ 1,038,342 ​ ¥ 30,359 ¥ 1,952,625 Total capital expenditures ¥ 2,303,311 ¥ 3,008 ¥ — ​ ¥ 14,953 ¥ 2,321,272 Timing of revenue recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goods transferred at a point in time ​ ¥ 19,055,227 ​ ¥ 9,730,859 ​ ¥ 10,282,687 ​ ¥ 3,983,821 ​ ¥ 43,052,594 Services rendered over time ​ ​ — ​ — ​ 2,506,997 ​ ​ — ​ 2,506,997 Total revenue ​ ¥ 19,055,227 ​ ¥ 9,730,859 ​ ¥ 12,789,684 ​ ¥ 3,983,821 ​ ¥ 45,559,591 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, 2021 ​ Automation Equipment, Oilfield ​ Platform ​ ​ ​ ​ product and ​ accessories ​ environmental ​ ​ outsourcing ​ ​ ​ ​ ​ software ​ and others ​ protection ​ ​ services ​ Total ​ ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Revenue ¥ 23,859,815 ¥ 6,187,975 ¥ 19,735,430 ​ ¥ 4,628,504 ¥ 54,411,724 Cost of revenue and related tax ​ 20,580,830 ​ 2,918,195 ​ 14,102,092 ​ ​ 2,303,528 ​ 39,904,645 Gross profit ¥ 3,278,985 ¥ 3,269,780 ¥ 5,633,338 ​ ¥ 2,324,976 ¥ 14,507,079 Depreciation and amortization ¥ 214,213 ¥ 423,065 ¥ 996,247 ​ ¥ 35,305 ¥ 1,668,830 Total capital expenditures ¥ 12,384 ¥ 8,849 ¥ 135,873 ​ ¥ 180,065 ¥ 337,171 Timing of revenue recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goods transferred at a point in time ​ ¥ 23,859,815 ​ ¥ 6,187,975 ​ ¥ 10,113,712 ​ ¥ 4,628,504 ​ ¥ 44,790,006 Services rendered over time ​ ​ — ​ — ​ 9,621,718 ​ ​ — ​ 9,621,718 Total revenue ​ ¥ 23,859,815 ​ ¥ 6,187,975 ​ ¥ 19,735,430 ​ ¥ 4,628,504 ​ ¥ 54,411,724 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Total assets: ​ ​ ​ Automation product and software ¥ 147,377,607 ¥ 162,825,397 ​ $ 23,603,699 Equipment, accessories and others ​ 149,876,933 ​ 158,662,332 ​ 23,000,208 Oilfield environmental protection ​ ​ 107,755,500 ​ ​ 96,259,885 ​ ​ 13,954,146 Platform outsourcing services ​ 85,232,044 ​ 76,476,827 ​ 11,086,327 Total assets ¥ 490,242,084 ¥ 494,224,441 ​ $ 71,644,380 ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 27. SUBSEQUENT EVENTS On March 9, 2023, the Compensation Committee of the Company recommended and the Board determined and to grant 2,000,000 Class A shares and 3,000,000 Class B shares to certain directors, officers, employees and consultant at a share price of $0.98 per ordinary share and the shares shall be vested upon the issuances. The fair value of these granted shares were $4,900,000. On March 15, 2023, the Company entered into a securities purchase agreement with certain accredited investors to purchase approximately $8 million worth of its Class A ordinary shares (or pre-funded warrants to purchase Class A ordinary shares in lieu thereof) in a registered direct offering, and Class A ordinary shares warrants in a concurrent private placement. Under the terms of the securities purchase agreement, the Company has agreed to sell 10,002,500 Class A ordinary shares (or pre-funded warrants in lieu thereof) and warrants to purchase up to 10,002,500 Class A ordinary shares in a concurrent private placement transaction. The pre-funded warrants have an exercise price of $0.01 per share and will be exercisable immediately upon the date of issuance until they are exercised in full. The pre-funded warrants will be issued to certain purchasers who have elected to purchase them in lieu of Class A ordinary shares in this offering, as those purchasers would otherwise have exceeded 9.99% (or such lesser percentage as required by the investor) beneficial ownership of our Class A ordinary shares immediately following the offering. The ordinary share warrants will be exercisable immediately upon the date of issuance and have an exercise price of $0.80 . The ordinary share warrants will expire five and a half years from the date of issuance. The purchase price for one ordinary share (or pre-funded warrant in lieu thereof) and a corresponding ordinary share warrant will be $0.80 . The gross proceeds to the Company from this registered direct offering are estimated to be $8 million before deducting the placement agent’s fees and other estimated offering expenses. In addition, ordinary share purchase warrants to purchase an aggregate of 8,814,102 ordinary shares previously issued by the Company to certain institutional investors on June 16, 2021 will have the exercise price reduced to $0.80 in connection with this offering. The Company intends to use the net proceeds for its midterm and long-term operations, including for the Company's research and development needs for current and future products, expansion of marketing efforts, and possible acquisitions of complementary assets or businesses.

CONDENSED FINANCIAL INFORMATION

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	6 Months Ended
	Dec. 31, 2022
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	NOTE 28. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY Pursuant to the requirements of Rules 12-04(a), 5-04(c), and 4-08(e)(3) of Regulation S-X, the condensed financial information of the parent company shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with such requirements and concluded that it was applicable to the Company as the restricted net assets of the Company’s PRC subsidiary and VIEs exceeded 25% of the consolidated net assets of the Company. Therefore, the condensed financial statements for the parent company are included herein. For purposes of the above test, restricted net assets of consolidated subsidiaries and VIEs shall mean that amount of the Company’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries and VIEs in the form of loans, advances, or cash dividends without the consent of a third party. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries and VIEs. Such investment is presented on the condensed balance sheets as “Investment in subsidiaries and VIEs” and the respective profit or loss as “Equity in earnings of subsidiaries and VIEs” on the condensed statements of income. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The Company did not pay any dividend for the periods presented. As of June 30, 2022 and December 31, 2022, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any. ​ RECON TECHNOLOGY, LTD PARENT COMPANY BALANCE SHEETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ RMB (Unaudited) (Unaudited) ASSETS ​ ​ ​ ​ ​ ​ Cash ¥ 296,838,959 ¥ 183,517,938 ​ $ 26,603,357 Due from intercompany ​ 205,224,961 ​ 285,747,507 ​ 41,422,888 Other current assets ​ 20,364,424 ​ 62,124,080 ​ 9,005,710 Total Current Assets ​ 522,428,344 ​ 531,389,525 ​ 77,031,955 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current assets ​ ​ ​ ​ ​ ​ Investment in subsidiaries and VIEs ​ (77,566,835) ​ (81,353,652) ​ (11,793,290) ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Total assets ¥ 444,861,509 ​ ¥ 450,035,873 ​ ¥ 65,238,665 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND SHAREHOLDERS’ EQUITY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other current liabilities ​ 7,552,452 ​ ​ 6,471,716 ​ ​ 938,161 Total current Liabilities ​ ​ 7,552,452 ​ ​ 6,471,716 ​ ​ 938,161 ​ ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ 　 ​ Warrant liability ​ 16,677,328 ​ ​ 37,043,871 ​ 5,370,000 LIABILITIES ​ 24,229,780 ​ ​ 43,515,587 ​ 6,308,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ COMMITMENTS AND CONTINGENCIES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SHAREHOLDERS’ EQUITY ​ ​ ​ ​ ​ ​ ​ Class A ordinary shares, $0.0925 U.S. dollar par value, 150,000,000 shares authorized; 29,700,718 shares and 29,700,718 shares issued and outstanding as of June 30, 2022 and December 31, 2022, respectively ​ 18,001,670 ​ ​ 18,001,670 ​ 2,609,581 Class B ordinary shares, $0.0925 U.S. dollar par value, 20,000,000 shares authorized; 4,100,000 shares and 4,100,000 shares issued and outstanding as of June 30, 2022 and December 31, 2022, respectively ​ 2,408,498 ​ ​ 2,408,498 ​ 349,144 Additional paid-in capital ​ 496,038,696 ​ ​ 502,139,970 ​ 72,791,843 Accumulated deficit ​ (107,124,596) ​ ​ (137,001,014) ​ (19,860,112) Accumulated other comprehensive income ​ 11,307,461 ​ ​ 20,971,162 ​ 3,040,048 Total shareholders’ equity ​ 420,631,729 ​ ​ 406,520,286 ​ 58,930,504 ​ ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ 　 ​ Total liabilities and shareholders’ equity ¥ 444,861,509 ​ ¥ 450,035,873 ​ $ 65,238,665 ​ * Due from subsidiaries, VIEs and VIEs’ subsidiaries are eliminated upon consolidation. ​ RECON TECHNOLOGY, LTD PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ (Unaudited) (Unaudited) (Unaudited) Revenues ¥ — ¥ — ​ $ — Cost of revenues ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ General and administrative expenses ​ 36,567,864 ​ 16,054,522 ​ 2,327,319 Provision for credit losses ​ 1,916,515 ​ — ​ — Loss from operations ​ (38,484,379) ​ (16,054,522) ​ (2,327,319) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) in fair value changes of warrants liability ​ 147,168,952 ​ (20,097,665) ​ (2,913,423) Other income ​ 2,584,170 ​ 3,716,168 ​ 538,708 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of subsidiaries, vies and vies' subsidiaries ​ 88,767 ​ 2,559,601 ​ 371,048 ​ ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ 　 ​ Net income (loss) ¥ 111,357,510 ¥ (29,876,418) ​ $ (4,330,985) FOREIGN CURRENCY TRANSLATION ADJUSTMENTS ​ 　 ​ ​ 　 ​ ​ 　 ​ Foreign currency translation adjustments related to investments in subsidiaries, VIEs and VIEs' subsidiaries ​ (4,636,991) ​ 9,663,701 ​ 1,400,882 Comprehensive income (loss) attributable to the company ¥ 106,720,519 ¥ (20,212,717) ​ $ (2,930,103) ​ ​ RECON TECHNOLOGY, LTD PARENT COMPANY STATEMENTS OF CASH FLOWS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ (Unaudited) (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: ​ ​ ​ Net income (loss) ¥ 111,357,510 ¥ (29,876,418) ​ $ (4,330,985) Adjustments to reconcile net income (loss) to net cash used in operating activities: ​ ​ ​ Loss (gain) in fair value changes of warrants liability ​ (147,168,952) ​ 20,097,665 ​ 2,913,423 Provision for doubtful accounts ​ 1,916,515 ​ — ​ — Restricted shares issued for management and employees ​ 27,375,871 ​ 1,796,417 ​ 260,414 Income from investment in unconsolidated entity ​ (15,411) ​ — ​ — Restricted shares issued for services ​ 4,631,063 ​ 4,304,857 ​ 624,046 Equity in earnings of subsidiaries and VIEs ​ (88,767) ​ (2,559,601) ​ (371,048) Other current assets ​ (2,448,550) ​ (14,166,457) ​ (2,053,616) Other current liabilities ​ (7,226,571) ​ (1,080,736) ​ (156,667) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in operating activities ​ (11,667,292) ​ (21,484,273) ​ (3,114,433) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: ​ ​ ​ Repayments from loans to third parties ​ 111,796,100 ​ 20,694,900 ​ 3,000,000 Payments made for loans to third parties ​ (85,851,987) ​ (48,288,100) ​ (7,000,000) Due from intercompany, VIEs and VIEs’ subsidiaries ​ (45,913,426) ​ (80,522,546) ​ (11,672,810) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ​ (19,969,313) ​ (108,115,746) ​ (15,672,810) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate fluctuation on cash ​ (5,586,473) ​ 16,278,998 ​ 2,359,859 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net decrease in cash ​ (37,223,078) ​ (113,321,021) ​ (16,427,384) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CASH, beginning of period ​ 325,116,815 ​ 296,838,959 ​ 43,030,741 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CASH, end of period ¥ 287,893,737 ¥ 183,517,938 ​ $ 26,603,357 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-cash investing and financing activities ​ ​ ​ ​ Cancellation of shares issued ¥ (27,675,450) ¥ — ​ $ — ​

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2022
SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation
Unaudited Condensed Consolidated Interim Financial Statements	Unaudited Condensed Consolidated Interim Financial Statements
Principles of Consolidation	Principles of Consolidation
Variable Interest Entities	Variable Interest Entities Assets recognized as a result of consolidating VIEs do not represent additional assets that could be used to satisfy claims against the Company’s general assets. Conversely, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets; rather, they represent claims against the specific assets of the consolidated VIEs.
Currency Translation	Currency Translation - The Company’s functional currency is the United States dollars (“U.S. dollars”) and the unaudited condensed consolidated interim financial statements have been expressed in Chinese Yuan (“RMB”) as RMB is the Company’s reporting currency. The unaudited condensed consolidated interim financial statements as of and for the six months ended December 31, 2022 have been translated into U.S. dollars solely for the convenience of the readers. The translation has been made at the rate of ¥6.8983 = US$1.00 , the approximate exchange rate prevailing on December 31, 2022. These translated U.S. dollar amounts should not be construed as representing Chinese Yuan amounts or that the Chinese Yuan amounts have been or could be converted into U.S. dollars.
Estimates and Assumptions	Estimates and Assumptions The key assumptions underlying the Company’s accounting for material arrangements and the reasonably likely material effects of resolving any uncertainties on the Company’s allowance for credit losses related to purchase advances. The production of the Company’s products requires custom-made equipment from its suppliers. To ensure that it can secure the required customized equipment, the Company often needs to make full prepayment for its intended purchases. As a standard practice in the petroleum extraction industry, the Company generally must submit a bid in order to secure the sales contract. The bidding process generally takes between one month to one year and the timing depends on the size of the overall project, which timing and size are generally controlled by its client. In order to secure timely purchase delivery and to meet its product delivery schedule, the Company normally prepays for the purchase advances if the Company believes that it is more than likely to win the bid for the sales contract which is accounted as pre-contract costs. After winning the bid and securing the sale contract, the Company normally needs to deliver its products approximately within one week to six months. Based on the Company’s historical experience, the Company generally is able to realize its purchase advances on the customized equipment that it orders. If it subsequently confirms that the Company is unable to secure the planned contracts with a customer after making the advance payments for these planned contracts, the Company evaluates the probable recoverability of the pre-contract cost and charges to expenses when the Company determines that the recovery of such pre-contract cost is improbable.
Fair Values of Financial Instruments	Fair Values of Financial Instruments The three levels of inputs are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable. Accounting guidance also describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The Company measures certain financial assets, including investments under the equity method on other-than-temporary basis, intangible assets and fixed assets at fair value when an impairment charge is recognized. The carrying amounts reported in the unaudited condensed consolidated interim balance sheets for trade accounts receivable, notes receivable, other receivables, purchase advances, contract cost, trade accounts payable, other payable, accrued liabilities, contract liabilities, short-term bank loan and short-term borrowings approximate fair value because of the immediate or short-term maturity of these financial instruments.
Cash	Cash
Restricted cash	Restricted cash
Trade Accounts,Net, Other Receivables, Net and Loan to Third Parties	Trade Accounts, Net, Other Receivables, Net and Loan to Third Parties The adoption of the credit loss accounting standard has no material impact on the Company’s consolidated financial statements as of July 1, 2020. Accounts receivable, other receivables and loan to third parties are recognized and carried at carrying amount less an allowance for credit loss, if any. The Company maintains an allowance for credit losses resulting from the inability of its trade and non-trade customers (“customers”) to make required payments based on contractual terms. The Company reviews the collectability of its receivables on a regular and ongoing basis. The Company has also included in calculation of allowance for credit losses, the potential impact of the COVID-19 pandemic on our customers businesses and their ability to pay their accounts receivable, other receivables and loan to third parties. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. The Company also considers external factors to the specific customer, including current conditions and forecasts of economic conditions, including the potential impact of the COVID-19 pandemic. In the event the Company recovers amounts previously reserved for, the Company will reduce the specific allowance for credit losses. The provision for credit loss for the six months ended December 31, 2022 decreased slightly by approximately ¥0.5 million ($0.1 million) from the six months ended December 31, 2021. The Company evaluates the creditworthiness of all of its customers individually before accepting them and continuously monitors the recoverability of accounts receivable, other receivables and loan to third parties. If there are any indicators that a customer may not make payment, the Company may consider making provision for non-collectability for that particular customer. At the same time, the Company may cease further sales or services to such customer. The following are some of the factors that the Company considers in determining whether to discontinue sales, record as contra revenue or allowance for credit losses: ● the oil price and fluctuation of the overall oil industry; ● the customer fails to comply with its payment schedule; ● the customer is in serious financial difficulty; ● a significant dispute with the customer has occurred regarding job progress or other matters; ● the customer breaches any of the contractual obligations; ● the customer appears to be financially distressed due to economic or legal factors; ● the business between the customer and the Company is not active; and ● other objective evidence indicates non-collectability of the accounts receivable, other receivables and loan to third parties. The Company considers the following factors when determining whether to permit a longer payment period or provide other concessions to customers: ● the customer’s past payment history; ● the customer’s general risk profile, including factors such as the customer’s size, age, and public or private status; ● macroeconomic conditions that may affect a customer’s ability to pay; and ● the relative importance of the customer relationship to the Company’s business.
Notes Receivable	Notes Receivable
Purchase Advances, Net	Purchase Advances, Net -
Inventories, Net	Inventories, Net
Property and Equipment, Net	Property and Equipment, Net - Property and equipment are stated at cost. Depreciation on motor vehicles and office equipment is computed using the straight-line method over the estimated useful lives of the assets, which range from two to ten years . Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the assets. ​ ​ ​ ​ Items Useful life Motor vehicles 5 - 10 years Office equipment 2 - 5 years Production equipment 10 - 20 years Leasehold improvement ​ Lesser of useful life and lease term ​
Goodwill	Goodwill -
Intangible Assets, Net	Intangible Assets, Net –
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets estimated useful life. The Company concluded that there was no impairment for the long-lived assets for the six months ended December 31, 2021 and 2022.
Long-term Investments	Long-term Investments - Equity Investments with Readily Determinable Fair Values - Equity investments with readily determinable fair values are measured and recorded at fair value using the market approach based on the quoted prices in active markets at the reporting date. The Company classifies the valuation techniques that use these inputs as Level 1 of fair value measurements. ​ - Equity Investments without Readily Determinable Fair Values - After the adoption of this new accounting standard, the Company elected to record equity investments without readily determinable fair values and not accounted for under the equity method at cost, less impairment, adjusted for subsequent observable price changes on a nonrecurring basis, and report changes in the carrying value of the equity investments in current earnings. Changes in the carrying value of the equity investments are required to be made whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. The implementation guidance notes that an entity should make a “reasonable effort” to identify price changes that are known or that can reasonably be known. ​ - Equity Investments Accounted for Using the Equity Method - The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entities, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investment in privately held entities, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary. An impairment charge is recorded if the carrying amount of the investment exceeds its fair value and this condition is determined to be other-than-temporary. The Company recorded no impairment loss on its equity method investment during the six months ended December 31, 2021 and 2022. The Company recorded investment income of ¥15,411 and ¥nil on its equity method investment in unconsolidated entity during the six months ended December 31, 2021 and 2022, respectively.
Business Combinations	Business Combinations - In a business combination considered as a step acquisition, the Company remeasures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition-date fair value and the re-measurement gain or loss, if any, is recognized in the unaudited condensed consolidated interim statements of operation and comprehensive income (loss).
Noncontrolling Interests	Non-controlling Interests -
Revenue Recognition	Revenue Recognition Disaggregation of Revenues Revenues are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The following items represent the Company’s revenues disaggregated by revenue source. In accordance with ASC 606-10-50-5, the Company selects categories to present disaggregated revenue that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors and delivery conditions of products and fulfillment of obligations. The Company’s disaggregation of revenues for the six months ended December 31, 2021 and 2022 is disclosed in Note 26. Automation Products and Software; Equipment, Accessories and Others The Company generates revenues primarily through delivery of standard or customized products and equipment, including automation products, furnaces and related accessories. Revenue is recognized when products are delivered, and acceptance reports are signed off by customers. The sale of automation products or specialized equipment when combined with services represent a single performance obligation for the development and construction of a single asset. The Company may also provide design or installation services to clients as there may be such obligation in contracts. The promises to transfer the goods and provision of services are not separately identifiable, which is evidenced by the fact that the Company provides significant services of integrating the goods and services into a single deliverable for which the customer has contracted. For such sales arrangements, the Company recognizes revenue using input method, based on the relationship between actual costs incurred compared to the total estimated costs for the contract. Such method is adopted because the Company believes it best depicts the transfer of goods and services to the customer. Oilfield Environmental Protection Service The Company provides wastewater treatment products and related service to oilfield and chemical industry companies and generates revenue from special equipment, self-developed chemical products and supporting service, transfer. Revenue is recognized when contract obligations have been performed. For such sales arrangements, the Company recognizes revenue when products are delivered, on-site assistance services rendered, and acceptance reports are signed off by customers. Such method is adopted because the Company believes it best depicts the transfer of services to the customer. The Company provides oily sludge disposal and treatment services to oilfield companies and generates revenue from treatment services of oily sludge. Revenue is recognized when contract obligations have been performed. For such sales arrangements, the Company recognizes revenue using output method, based on the percentage-of-completion method. Such method is adopted because the Company believes it best depicts the transfer of services to the customer. Platform Outsourcing Services The Company provides online platform development, maintenance, and operation services to gas stations around different provinces in China to complete online transactions; and API (application programming interface) port export service and related maintain services to business cooperators of different industries that may have transactions in the refueling scenario during the service contract period. The Company considered these performance obligations to be indistinguishable contractual performance obligations. As the Company has no right to get the compensation for any performances completed while not accepted by its customers, the Company can only recognize revenue at a point in time, which is when the online transaction is completed. The Company’s services enable terminal users of different mobile apps run by its clients or cooperators to complete refueling in cash or online through different payment channels, when each transaction, including refueling and payment, is completed, the Company is entitled to charge with pre-settled rates of each transaction amount as service fee and recognize the underlying amount as revenue. Related fees are generally billed monthly, based on a per transaction basis. Arrangements with Multiple Performance Obligations Contracts with customers may include multiple performance obligations. For such arrangements, the Company will allocate revenues to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices based on the prices charged to customers or using expected cost-plus margin. Contract Balances The Company’s contract balances include contract costs and contract liabilities from contracts with customers, and the following table provides information about contract balances: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Contract costs ¥ 33,858,820 ¥ 27,747,782 ​ $ 4,022,409 Contract liabilities ¥ 2,107,277 ¥ 161,400 ​ $ 23,397 ​ Contract Costs, Net - Pre-Contract Costs - Pre-contract costs are the amounts prepaid to suppliers for purchases of customized equipment in anticipation of obtaining planned contracts for the Company’s hardware and software revenues. If it subsequently confirms that the Company is unable to secure the planned contracts with a customer after making the advance payments for these planned contracts, the Company evaluates the probable recoverability of the pre-contract cost and charges to expenses when the Company determines that the recovery of such pre-contract cost is improbable. ​ - Executed Contract Costs - Direct costs, such as material, labor, depreciation and amortization and subcontracting costs and indirect costs allocable to contracts include the costs of contract supervision, tools and equipment, supplies, quality control and inspection, insurance, repairs and maintenance for quality assurance purposes before clients’ initial acceptance. Once products are delivered, installed and debugged for intended use and accepted by a client, which may last from weeks to months (this process is decided by the client’s individual project construction arrangement), the Company records revenue based on the contract or the final clients’ acceptance. Minor costs for repair during the maintenance period after initial acceptance are recorded as cost of goods sold as they are incurred. All other general and administrative costs and selling costs are charged to expenses as incurred. The Company generally ships its products approximately one week to six months after production begins and the timing depends on the size of the overall project. Contract Liabilities Performance Obligations - Amounts billed to customers for shipping and handling activities to fulfill the Company’s promise to transfer the goods are included in revenues, and costs incurred by the Company for the delivery of goods are classified as cost of sales in the unaudited condensed consolidated interim statements of operations and comprehensive income (loss). Sales, value added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company generally offers assurance-type warranties for its products. The specific terms and conditions of those warranties vary depending upon the product. The Company estimates the costs that may be incurred under its warranties and records a liability in the amount of such costs at the time product revenue is recognized. Factors that affect the warranty liability include historical product-failure experience and estimated repair costs for identified matters. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. The amount accrued for expected returns and warranty claims was immaterial as of December 31, 2022. The amount of revenue recognized during the six months ended December 31, 2021 and 2022 that was previously included within contract liability balances was ¥7,339,616 and ¥1,901,277 ($275,615), respectively. Practical Expedients Elected Incremental Costs of Obtaining a Contract - The Company has elected the practical expedient permitted in ASC 340-40-25-4, which permits an entity to recognize incremental costs to obtain a contract as an expense when incurred if the amortization period will be less than one year and not significant. Significant Financing Component - The Company has elected the practical expedient permitted in ASC 606-10-32-18, which allows an entity to not adjust the promised amount of consideration for the effects of a significant financing component if a contract has a duration of one year or less. As the Company’s contracts are majorly less than one year in length, consideration will not be adjusted. For the Company’s contracts include a standard payment term of 90 days to 180 days; consequently, there is no significant financing component within contracts. There are also some new contracts that will not be completed within one year from year 2022, the Company did calculation and the amount was not material as end of this fiscal year.
Share-Based Compensation	Share-Based Compensation - Share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense with graded vesting on a straight–line basis over the requisite service period for the entire award. The Company has elected to recognize compensation expenses using the valuation model estimated at the grant date based on the award’s fair value
Research and Development Expenses	Research and Development Expenses
Shipping and Handling Costs	Shipping and Handling Costs -
Leases	Leases Leases At the commencement date, the Company recognizes the lease liability at the present value of the lease payments not yet paid, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate for the same term as the underlying lease. The ROU asset is recognized initially at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All ROU assets are reviewed for impairment annually. There was no impairment for ROU lease assets as of December 31, 2022 and June 30, 2022.
Income Taxes	Income Taxes The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position would be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The Company has no uncertain tax position as of December 31, 2022 and June 30, 2022. As of December 31, 2022, the tax years ended December 31, 2018 through December 31, 2022 for the Company’s People’s Republic of China (“PRC”) subsidiaries remain open for statutory examination by PRC tax authorities.
Comprehensive Income (Loss)	Comprehensive Income (Loss) -
Earnings (Loss) per Share	Earnings (Loss) per Share (“EPS”) The following table sets forth the computation of basic and diluted earnings per share for the six months ended December 31, 2021 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ 2021 2022 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Numerator: ​ ​ ​ Net income (loss) attributable to Recon Technology, Ltd ¥ 111,357,510 ¥ (29,876,418) ​ $ (4,330,985) ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Denominator: ​ ​ ​ 　 ​ ​ 　 ​ Weighted-average number of ordinary shares outstanding – basic ​ 27,312,581 ​ 33,800,718 ​ 33,800,718 Outstanding options/warrants/convertible notes ​ 10,393,622 ​ 10,536,433 ​ 10,536,433 Potentially dilutive shares from outstanding options/warrants/convertible notes ​ 1,464,411 ​ — ​ — Weighted-average number of ordinary shares outstanding – diluted ​ 28,776,992 ​ 33,800,718 ​ 33,800,718 ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Earnings (loss) per share – basic ¥ 4.08 ¥ (0.88) ​ $ (0.13) Earnings (loss) per share – diluted ¥ 3.87 ¥ (0.88) ​ $ (0.13) ​
Warrants	Warrants For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the unaudited condensed consolidated interim statements of operations.
Reclassification	Reclassification
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes. The Board is issuing this Update as part of its initiative to reduce complexity in accounting standards (the Simplification Initiative). The objective of the Simplification Initiative is to identify, evaluate, and improve areas of U.S. GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. The specific areas of potential simplification in this Update were submitted by stakeholders as part of the Simplification Initiative. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted this guidance on July 1, 2021 and the adoption of this ASU did not have a material impact on its unaudited condensed consolidated interim financial statements. In August 2020, the FASB issued ASU 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815 - 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU’s amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2020-06 will have on its unaudited condensed consolidated interim financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the unaudited condensed consolidated interim financial position, statements of operations and cash flows.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Dec. 31, 2022
SIGNIFICANT ACCOUNTING POLICIES
Schedule of estimated useful life	​ ​ ​ ​ Items Useful life Motor vehicles 5 - 10 years Office equipment 2 - 5 years Production equipment 10 - 20 years Leasehold improvement ​ Lesser of useful life and lease term ​
Schedule of information about contract assets and contract liabilities from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Contract costs ¥ 33,858,820 ¥ 27,747,782 ​ $ 4,022,409 Contract liabilities ¥ 2,107,277 ¥ 161,400 ​ $ 23,397 ​
Schedule of basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ 2021 2022 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Numerator: ​ ​ ​ Net income (loss) attributable to Recon Technology, Ltd ¥ 111,357,510 ¥ (29,876,418) ​ $ (4,330,985) ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Denominator: ​ ​ ​ 　 ​ ​ 　 ​ Weighted-average number of ordinary shares outstanding – basic ​ 27,312,581 ​ 33,800,718 ​ 33,800,718 Outstanding options/warrants/convertible notes ​ 10,393,622 ​ 10,536,433 ​ 10,536,433 Potentially dilutive shares from outstanding options/warrants/convertible notes ​ 1,464,411 ​ — ​ — Weighted-average number of ordinary shares outstanding – diluted ​ 28,776,992 ​ 33,800,718 ​ 33,800,718 ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Earnings (loss) per share – basic ¥ 4.08 ¥ (0.88) ​ $ (0.13) Earnings (loss) per share – diluted ¥ 3.87 ¥ (0.88) ​ $ (0.13) ​

TRADE ACCOUNTS RECEIVABLE, NET

TRADE ACCOUNTS RECEIVABLE, NET (Tables)	6 Months Ended
	Dec. 31, 2022
TRADE ACCOUNTS RECEIVABLE, NET
Schedule of accounts receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Third Parties ​ RMB ​ (Unaudited) ​ (Unaudited) Trade accounts receivable ¥ 27,206,752 ¥ 43,387,471 ​ $ 6,289,588 Allowance for credit losses ​ (4,628,772) ​ (4,415,026) ​ (640,016) Total third-parties, net ¥ 22,577,980 ¥ 38,972,445 ​ $ 5,649,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ RMB U.S. Dollars Third Parties- long-term ​ RMB ​ (Unaudited) ​ (Unaudited) Trade accounts receivable ¥ 4,983,698 ¥ 1,304,721 ​ $ 189,137 Allowance for credit losses ​ (4,983,698) ​ (1,304,721) ​ ​ (189,137) Total third-parties, net ¥ — ¥ — ​ $ — ​
Schedule of movement of allowance for doubtful accounts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Beginning balance ¥ 9,315,427 ¥ 9,612,470 ​ $ 1,393,454 Charge to (reversal of) credit losses ​ 153,329 ​ (4,012,249) ​ (581,628) Foreign currency translation adjustments ​ ​ 143,714 ​ ​ 119,526 ​ ​ 17,327 Ending balance ¥ 9,612,470 ¥ 5,719,747 ​ $ 829,153

OTHER RECEIVABLES, NET (Tables)

OTHER RECEIVABLES, NET (Tables)	6 Months Ended
	Dec. 31, 2022
OTHER RECEIVABLES, NET
Schedule of other receivables, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Third Party RMB (Unaudited) (Unaudited) Business advances to officers and staffs (A) ¥ 1,441,807 ¥ 606,319 $ 87,894 Deposits for projects ​ 3,259,236 ​ 1,895,762 ​ 274,816 VAT recoverable ​ 437,095 ​ 424,668 ​ 61,561 Others ​ 2,547,520 ​ 1,629,031 ​ 236,150 Subtotal ​ ​ 7,685,658 ​ ​ 4,555,780 ​ ​ 660,421 Less: Long term portion (B) ​ ​ (1,564,381) ​ ​ (620,000) ​ ​ (89,877) Allowance for credit losses ​ (619,444) ​ (1,168,576) ​ (169,401) Other receivable - current portion ¥ 5,501,833 ​ ¥ 2,767,204 ​ $ 401,143 ​ (A) Business advances to officers and staffs represent advances for business travel and sundry expenses related to oilfield or on-site installation and inspection of products through customer approval and acceptance. (B) Long-term portion are mainly tender deposits for large-scale projects or rental contracts. These funds may not be collected back until projects are finished or contracts are completed.
Schedule of movement of allowance for doubtful accounts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Beginning balance ¥ 918,153 ¥ 619,444 ​ $ 89,797 Charge to (reversal of) credit losses ​ ​ (294,644) ​ ​ 549,132 ​ ​ 79,604 Less: write-off ​ (4,065) ​ — ​ — Ending balance ¥ 619,444 ¥ 1,168,576 ​ $ 169,401

LOANS TO THIRD PARTIES (Tables)

LOANS TO THIRD PARTIES (Tables)	6 Months Ended
	Dec. 31, 2022
LOANS TO THIRD PARTIES
Schedule of loans to third parties	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Working fund to third party companies ¥ 50,383,822 ¥ 98,156,205 ​ $ 14,229,042 Less: Long term portion ​ ​ — ​ ​ (3,067,000) ​ ​ (444,602) Allowance for credit losses ​ — ​ — ​ — Loans to third parties - current portion ¥ 50,383,822 ¥ 95,089,205 ​ $ 13,784,440 ​

CONTRACT COSTS, NET (Tables)

CONTRACT COSTS, NET (Tables)	6 Months Ended
	Dec. 31, 2022
CONTRACT COSTS, NET
Schedule of contract costs, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars Third Party RMB (Unaudited) ​ (Unaudited) Contract costs ¥ 37,922,302 ​ ¥ 28,157,211 ​ $ 4,081,761 Allowance for credit losses (4,063,482) (409,429) ​ (59,352) Total contract costs, net ¥ 33,858,820 ​ ¥ 27,747,782 ​ $ 4,022,409 ​
Schedule of movement of allowance for credit costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ RMB (Unaudited) ​ (Unaudited) Beginning balance ¥ 4,548,910 ¥ 4,063,482 ​ $ 589,055 Reversal of credit losses (552,008) (3,751,575) ​ (543,841) Charge to cost of sales ​ ​ 66,580 ​ ​ 97,522 ​ ​ 14,138 Ending balance ¥ 4,063,482 ¥ 409,429 ​ $ 59,352

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
	Dec. 31, 2022
PROPERTY AND EQUIPMENT, NET
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Motor vehicles ¥ 5,312,274 ¥ 5,176,174 ​ $ 750,355 Office equipment and fixtures ​ 1,442,395 ​ 1,447,214 ​ 209,793 Production equipment ​ 31,102,055 ​ 30,884,566 ​ 4,477,127 Leasehold improvement ​ ​ — ​ ​ 2,260,000 ​ ​ 327,617 Total property and equipment ​ 37,856,724 ​ 39,767,954 ​ 5,764,892 Less: accumulated depreciation ​ (11,614,250) ​ (12,895,003) ​ (1,869,302) Less: Impairment for property and equipment ​ (768,312) ​ (768,312) ​ ​ (111,377) Property and equipment, net ¥ 25,474,162 ¥ 26,104,639 ​ $ 3,784,213 Construction in progress ​ ¥ 239,739 ​ ¥ 267,571 ​ $ 38,788 ​

BUSINESS ACQUISITION AND INVE_2

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY (Tables)	6 Months Ended
	Dec. 31, 2022
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY
Schedule of fair values of the identifiable assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Cash ¥ 471,843 ​ $ 68,400 Trade accounts receivable, net ​ 831,049 ​ 120,472 Other receivables, net ​ 144,285 ​ 20,916 Contract costs, net ​ 75,250 ​ 10,908 Prepaid expenses ​ 91,132 ​ 13,211 Property and equipment, net ​ 118,130 ​ 17,125 Intercompany receivables* ​ 6,850,000 ​ 992,998 Intangible assets- customer relationship ​ 7,000,000 ​ 1,014,743 Goodwill ​ 6,996,895 ​ 1,014,293 Trade accounts payable ​ (1,032,078) ​ (149,613) Other payables ​ (1,273,182) ​ (184,565) Other payable- related parties ​ (479,959) ​ (69,576) Deferred revenue ​ (39,786) ​ (5,768) Accrued payroll and employees’ welfare ​ (1,629,519) ​ (236,220) Taxes payable ​ (64,253) ​ (9,314) Deferred tax liability ​ (1,050,000) ​ (152,213) Total ¥ 17,009,807 ​ $ 2,465,797 ​ ​ ​ ​ ​ ​ ​ Cash considerations ​ — ​ — Deemed equity consideration to acquire 8% equity interest in FGS ​ 1,689,807 ​ 244,960 Fair value of previously held equity interest ​ 30,530,000 ​ 4,425,728 Non-controlling interest ​ 34,790,000 ​ 5,043,272 Capital contribution receivable due from non-controlling Interest ​ (50,000,000) ​ (7,248,163) Total ¥ 17,009,807 ​ $ 2,465,797 ​ *Intercompany receivables from Nanjing Recon and BHD are eliminated upon consolidation.
Schedule of fair value of goodwill acquired and carrying value, customer relationship and its estimated useful lives	The identifiable goodwill acquired and the carrying value as of December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ RMB U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) Goodwill ¥ 6,996,895 ​ $ 1,014,292 Less: impairment ​ (2,266,893) ​ (328,616) The carrying value of goodwill as of December 31, 2022 ¥ 4,730,002 ​ $ 685,676 ​ The fair value of identified intangible assets, which is customer relationship, and its estimated useful lives as of December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ Useful Life ​ ​ Fair Value ​ (in Years) ​ ​ RMB ​ U.S. Dollars ​ ​ ​ ​ (Unaudited) ​ (Unaudited) ​ ​ Intangible assets - customer relationship ¥ 7,000,000 ​ $ 1,014,743 10 Less: accumulated amortization ​ (1,400,000) ​ (202,949) Total intangible assets, net as of December 31, 2022 ¥ 5,600,000 ​ $ 811,794 ​

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Dec. 31, 2022
LEASES
Schedule of operating lease related assets and liabilities recorded on the balance sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Rights of use lease assets, net ¥ 6,666,759 ​ ¥ 5,038,871 $ 730,451 ​ ​ ​ ​ ​ ​ Operating lease liabilities – current 3,892,774 ​ 3,705,420 ​ 537,150 Operating lease liabilities – non-current 2,184,635 ​ 752,821 ​ 109,131 Total operating lease liabilities ¥ 6,077,409 ​ ¥ 4,458,241 ​ $ 646,281 ​
Schedule of weighted average remaining lease terms and discount rates for all of operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ June 30, ​ 2022 ​ ​ ​ 2022 ​ (Unaudited) ​ Remaining lease term and discount rate: ​ ​ ​ Weighted average remaining lease term (years) 16.18 ​ 15.31 ​ Weighted average discount rate 5.0 % 5.0 % ​
Schedule of maturities of lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) Remainder of 2023 ¥ 2,343,837 ​ $ 339,770 2024 2,222,504 ​ 322,182 Total lease payments 4,566,341 ​ 661,952 Less: imputed interest (108,100) ​ (15,671) Present value of lease liabilities 4,458,241 ​ 646,281 Less: operating lease liabilities – current 3,705,420 ​ 537,150 Operating lease liabilities – non-current ¥ 752,821 ​ $ 109,131

OTHER PAYABLES (Tables)

OTHER PAYABLES (Tables)	6 Months Ended
	Dec. 31, 2022
OTHER PAYABLES
Schedule Of Other Payables Third Party	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Third Parties ​ RMB ​ (Unaudited) ​ (Unaudited) Professional service fees ​ ¥ 2,061,016 ​ ¥ 711,724 ​ $ 103,174 Distributors and employees ​ 1,009,307 ​ 939,060 ​ 136,129 Accrued expenses ​ 206,045 ​ 207,329 ​ 30,055 Others ​ 257,550 ​ 266,969 ​ 38,701 Total ¥ 3,533,918 ¥ 2,125,082 ​ $ 308,059
Schedule Of Other Payables Related Party	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Related Parties ​ RMB ​ (Unaudited) ​ (Unaudited) Expenses paid by the major shareholders ​ ¥ 1,396,419 ​ ¥ 1,675,182 ​ $ 242,840 Due to family members of the owners of BHD and FGS ​ 590,159 ​ 545,159 ​ 79,028 Due to management staff for costs incurred on behalf of the Company ​ 253,557 ​ 250,927 ​ 36,375 Total ¥ 2,240,135 ¥ 2,471,268 ​ $ 358,243

TAXES PAYABLE (Tables)

TAXES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2022
TAXES PAYABLE
Schedule of taxes payable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) VAT payable ¥ 1,741,972 ¥ 2,349,706 ​ $ 340,621 Income tax payable ​ 440,030 ​ 440,030 ​ 63,788 Other taxes payable ​ 28,956 ​ 95,188 ​ 13,799 Total taxes payable ¥ 2,210,958 ¥ 2,884,924 ​ $ 418,208

BANK LOANS (Tables)

BANK LOANS (Tables)	6 Months Ended
	Dec. 31, 2022
BANK LOANS
Schedule of short-term bank loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ RMB U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Beijing Rural Commercial Bank (1) ​ ¥ 10,000,000 ​ ¥ 10,000,000 ​ $ 1,449,633 Total short-term bank loans ​ ¥ 10,000,000 ​ ¥ 10,000,000 ​ $ 1,449,633 ​ (1) On April 13, 2022, the Company entered into a loan agreement with Beijing Rural Commercial Bank to borrow ¥ 5,600,000 ( $811,795 ) as working capital for one year , which will be due on April 12, 2023. On April 13, 2022, the Company entered into a loan agreement with Beijing Rural Commercial Bank to borrow ¥ 4,400,000 ( $637,838 ) as working capital for one year , which will be due on May 12, 2023. All these loan bears a fixed interest rate of 4.6% per annum. These loans are guaranteed by one of the founders of the Company and he also pledged self-owned housing property with carrying value of approximately ¥17.6 million (approximately $2.5 million) as collateral for these loans.
Schedule of long-term bank loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ December 31, ​ 2022 2022 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB (Unaudited) (Unaudited) Bank of Kunlun (2) ​ ¥ — ¥ 1,000,000 ​ $ 144,963 Total long-term bank loan ​ ¥ — ¥ 1,000,000 ​ $ 144,963 ​ (2) On August 31, 2022, the Company entered into a loan agreement with Bank of Kunlun to borrow up to ¥2,900,000 ( $420,393 ) as working capital for eighteen months , with a maturity date of February 29, 2024. The loan has a fixed interest rate of 6.0% per annum. The Company made a withdrawal in an amount of ¥1,000,000 ( $144,963 ) on August 31, 2022. The loan is guaranteed by the non-controlling shareholder of Gan Su BHD. The Company also pledged the accounts receivable from the contracts the Company entered into with CNPC as collateral for this loan, and the total value of the contracts are approximately ¥6.5 million (approximately $1.0 million).

SHORT-TERM BORROWINGS DUE TO _2

SHORT-TERM BORROWINGS DUE TO RELATED PARTIES (Tables)	6 Months Ended
	Dec. 31, 2022
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES
Schedule of short-term borrowings due to related parties	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars Short-term borrowings due to related parties: ​ RMB ​ (Unaudited) ​ (Unaudited) Short-term borrowing from a founder, 4.35% annual interest, due on November 17, 2022 * ¥ 4,006,767 ¥ — ​ $ — Short-term borrowing from a founder, 4.35% annual interest, due on December 26, 2022 * ​ ​ 5,002,389 ​ ​ — ​ ​ — Short-term borrowing from a founder, 3.65% annual interest, due on December 26, 2023 ​ ​ — ​ ​ 10,005,069 ​ ​ 1,450,367 Total short-term borrowings due to related parties ¥ 9,009,156 ¥ 10,005,069 ​ $ 1,450,367 ​ * The Company repaid the loans in full on maturity date.

LONG-TERM BORROWINGS DUE TO R_2

LONG-TERM BORROWINGS DUE TO RELATED PARTY (Tables)	6 Months Ended
	Dec. 31, 2022
LONG-TERM BORROWINGS DUE TO RELATED PARTY
Schedule of long-term borrowings due to related party	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars Long-term borrowings due to related party: ​ RMB ​ (Unaudited) ​ (Unaudited) Long-term borrowing from a founder, monthly payments of ¥ 126,135 inclusive of interest at 8.90% , ten years loan, due in November 2027. ¥ 6,510,606 ¥ 6,031,911 $ 874,405 Less: current portion ​ (999,530) ​ (1,041,981) ​ (151,049) Total long-term borrowings due to related party ¥ 5,511,076 ¥ 4,989,930 ​ $ 723,356 ​
Schedule of future maturities of long-term borrowings due to related party	​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Twelve months ending December 31, ​ (Unaudited) ​ (Unaudited) 2023 ¥ 1,041,981 ​ $ 151,049 2024 ​ 1,114,243 ​ 161,524 2025 ​ 1,217,558 ​ 176,501 2026 ​ 1,330,452 ​ 192,867 2027 ​ 1,327,677 ​ 192,464 Total ¥ 6,031,911 ​ $ 874,405

CLASS A ORDINARY SHARES (Tables

CLASS A ORDINARY SHARES (Tables)	6 Months Ended
	Dec. 31, 2022
CLASS A ORDINARY SHARES
Schedule of Pre-Funded Warrants Activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Average ​ Remaining ​ ​ Pre-Funded ​ Exercise Price ​ Period Pre-Funded Warrants ​ Warrants ​ Per Share ​ (Years) Outstanding as of June 30, 2021 1,470,000 ​ $ 0.01 5.46 Issued — ​ — — Forfeited — ​ — — Exercised (1,470,000) ​ $ 0.01 — Expired — ​ — — Outstanding as of June 30, 2022 — ​ $ — — Issued — ​ — — Forfeited — ​ — — Exercised — ​ — — Expired — ​ — — Outstanding as of December 31, 2022 — ​ $ — — ​

ORDINARY SHARES PURCHASE WARR_2

ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS (Tables)	6 Months Ended
	Dec. 31, 2022
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Schedule of fair value measurement inputs under binomial and black-scholes model	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 14, 2021 ​ ​ December 31, ​ June 30, ​ (Initial Input 2022 2022 measurement) ​ Share price 1.26 ​ $ 0.66 5.01 ​ Risk-free interest rate 4.11 % 3.00 % 0.90 % Volatility 108 % 109 % 111 % Exercise price 6.24 ​ 6.24 6.24 ​ Warrant life 3.96 years ​ 4.46 years ​ 5.50 years ​ ​
Schedule of liabilities measured at fair value on recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices In Significant Other Significant Other ​ ​ June 30, ​ Active Markets ​ Observable Inputs ​ Unobservable Inputs Description ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Liabilities: ​ ​ ​ ​ Warrant liability ​ $ 2,490,000 ​ $ — ​ $ — ​ $ 2,490,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices In Significant Other Significant Other ​ ​ December 31, ​ Active Markets ​ Observable Inputs ​ Unobservable Inputs ​ ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Description ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Liabilities: ​ ​ ​ ​ Warrant liability ​ $ 5,370,000 ​ $ — ​ $ — ​ $ 5,370,000 ​
Summary of company warrants activities and status of warrants	The following table summarizes the Company’s Warrants activities and status of Warrants as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ Exercise Price ​ Period Warrants ​ Warrants ​ Per Share ​ (Years) Outstanding as of June 30, 2021 8,814,102 ​ $ 6.24 5.46 Issued — ​ — Forfeited — ​ — Exercised — ​ — Expired — ​ — Outstanding as of June 30, 2022 8,814,102 ​ $ 6.24 4.46 Issued — ​ — Forfeited — ​ — Exercised — ​ — Expired — ​ — Outstanding as of December 31, 2022 8,814,102 ​ $ 6.24 3.96

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Dec. 31, 2022
SHARE-BASED COMPENSATION
Schedule of share options activity	The following is a summary of the share options activity: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Exercise Price Share Options ​ Shares ​ Per Share Outstanding as of June 30, 2021 109,520 ​ $ 10.02 Granted — ​ — Forfeited (29,520) ​ 14.80 Exercised — ​ — Expired ​ — ​ — Outstanding as of June 30, 2022 80,000 ​ $ 8.25 Granted — ​ — Forfeited — ​ — Exercised — ​ — Expired ​ — ​ ​ — Outstanding as of December 31, 2022 80,000 ​ $ 8.25 ​
Schedule of options outstanding and exercisable	The following is a summary of the status of options outstanding and exercisable as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Options ​ Exercisable Options ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ Remaining Average Exercise ​ ​ Contractual ​ Average Exercise ​ ​ Contractual Price ​ Number life (Years) ​ Price ​ Number life (Years) $ 8.25 80,000 2.09 ​ $ 8.25 80,000 2.09 ​ ​ 80,000 ​ ​
Schedule of restricted shares granted	Following is a summary of the restricted shares granted: ​ ​ ​ Restricted share grants Shares Non-vested as of June 30, 2021 130,400 Granted 7,292,331 Vested (5,255,400) Non-vested as of June 30, 2022 2,167,331 Granted — Vested (525,000) Non-vested as of December 31, 2022 1,642,331 ​
Schedule of Outstanding Restricted Shares	​ ​ ​ ​ ​ ​ ​ Outstanding Restricted Shares ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Remaining Fair Value per ​ ​ ​ Amortization Share Number Period (Years) $ 1.04 1,642,331 2.16 ​ ​ 1,642,331 ​ ​

INCOME TAX (Tables)

INCOME TAX (Tables)	6 Months Ended
	Dec. 31, 2022
INCOME TAX
Schedule of loss before provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 2022 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Outside China areas ¥ 111,262,428 ¥ (32,395,145) ​ $ (4,696,108) China ​ 224,203 ​ 2,531,634 ​ 366,994 Total ¥ 111,486,631 ¥ (29,863,511) ​ $ (4,329,114) ​
Schedule of deferred tax liabilities, net	Deferred tax assets, net is composed of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, June 30, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ¥ 1,781,573 ¥ 742,481 ​ $ 107,632 Impairment for inventory ​ 59,913 ​ 51,745 ​ ​ 7,501 Net operating loss carryforwards ​ 16,511,047 ​ 17,979,524 ​ ​ 2,606,369 Subtotal ​ ​ 18,352,533 ​ ​ 18,773,750 ​ ​ 2,721,502 Less: Valuation allowance ​ ​ (17,193,874) ​ ​ (17,653,971) ​ ​ (2,559,176) Total deferred tax assets, net ​ ​ 1,158,659 ​ ​ 1,119,779 ​ ​ 162,326 Deferred tax liabilities: ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ ​ Accelerated amortization of intangible assets ​ ​ (119,271) ​ ​ (132,891) ​ ​ (19,264) Gain on the previously held equity method investment ​ ​ (146,888) ​ ​ (146,888) ​ ​ (21,293) Recognition of customer relationship arising from business combinations ​ ​ (892,500) ​ ​ (840,000) ​ ​ (121,769) Total deferred tax liabilities ​ (1,158,659) ​ (1,119,779) ​ ​ (162,326) Deferred tax assets, net ¥ — ¥ — ​ $ — ​
Summary of NOL expiration	​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Twelve months ending December 31, ​ (Unaudited) ​ (Unaudited) 2023 ¥ 13,146,922 ​ $ 1,905,821 2024 ​ 10,484,902 ​ 1,519,925 2025 ​ 19,617,124 ​ 2,843,762 2026 ​ 32,533,742 ​ 4,716,197 2027 ​ 27,137,905 ​ 3,933,999 Total ¥ 102,920,595 ​ $ 14,919,704 ​
Schedule of company's income tax expense	The Company’s income tax expense is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ 2021 2022 2022 ​ RMB RMB U.S. Dollars ​ (Unaudited) (Unaudited) ​ (Unaudited) Current income tax provision ¥ 2,889 ¥ 9,180 ​ $ 1,331 Deferred income tax provision ​ 104,315 ​ — ​ — Expense for income tax ¥ 107,204 ¥ 9,180 ​ $ 1,331

NON-CONTROLLING INTEREST (Table

NON-CONTROLLING INTEREST (Tables)	6 Months Ended
	Dec. 31, 2022
NON-CONTROLLING INTEREST.
Schedule of non-controlling interest	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2022 ​ ​ Nanjing Gan Su Qinghai ​ ​ ​ ​ ​ ​ ​ ​ BHD ​ Recon ​ BHD ​ BHD ​ FGS Total ​ Total ​ ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB RMB ​ U.S. Dollars Paid-in capital ¥ 1,651,000 ¥ 200,000 ¥ 4,805,000 ​ ¥ — ​ ¥ — ​ ¥ 6,656,000 ​ $ 993,771 Capital contribution receivable due from non-controlling Interest ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (48,870,000) ​ ​ (48,870,000) ​ ​ (7,296,511) Unappropriated retained earnings (deficit) ​ ​ 3,477,493 ​ ​ 3,616,001 ​ ​ (4,972,129) ​ ​ (1,520,225) ​ ​ (893,405) ​ ​ (292,265) ​ ​ (43,635) Accumulated other comprehensive loss ​ (18,850) ​ (11,853) ​ — ​ ​ — ​ ​ — ​ ​ (30,703) ​ (4,584) Valuation increase shared by minority shareholders ​ — ​ — ​ — ​ ​ — ​ ​ 34,790,000 ​ ​ 34,790,000 ​ 5,194,303 Total non-controlling interests ¥ 5,109,643 ¥ 3,804,148 ¥ (167,129) ​ ¥ (1,520,225) ​ ​ (14,973,405) ​ ¥ (7,746,968) ​ $ (1,156,656) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ Nanjing Gan Su Qinghai ​ ​ ​ ​ ​ ​ ​ ​ BHD ​ Recon ​ BHD ​ BHD ​ FGS ​ Total ​ Total ​ ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB ​ U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Paid-in capital ¥ 1,651,000 ¥ 200,000 ¥ 4,805,000 ​ ¥ — ​ ¥ — ​ ¥ 6,656,000 ​ $ 964,875 Capital contribution receivable due from non-controlling Interest ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (48,870,000) ​ ​ (48,870,000) ​ ​ (7,084,354) Unappropriated retained earnings (deficit) ​ ​ 3,477,493 ​ ​ 4,184,740 ​ ​ (5,512,944) ​ ​ (1,541,330) ​ ​ (896,497) ​ ​ (288,538) ​ ​ (41,826) Accumulated other comprehensive loss ​ (18,850) ​ (11,853) ​ — ​ ​ — ​ ​ — ​ ​ (30,703) ​ (4,451) Valuation increase shared by minority shareholders ​ — ​ — ​ — ​ ​ — ​ ​ 34,790,000 ​ ​ 34,790,000 ​ 5,043,272 Total non-controlling interests ¥ 5,109,643 ¥ 4,372,887 ¥ (707,944) ​ ¥ (1,541,330) ​ ​ (14,976,497) ​ ¥ (7,743,241) ​ $ (1,122,484)

COMMITMENTS AND CONTINGENCY (Ta

COMMITMENTS AND CONTINGENCY (Tables)	6 Months Ended
	Dec. 31, 2022
COMMITMENTS AND CONTINGENCY
Schedule of total future minimum purchase commitment	The total future minimum purchase commitment under the non-cancellable purchase contracts as of December 31, 2022 are payable as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB ​ U.S. Dollars Twelve months ending December 31, ​ (Unaudited) ​ (Unaudited) 2023 ​ ¥ 22,135,714 ​ $ 3,208,865 2024 ​ ​ 300,000 ​ ​ 43,489 2025 ​ ​ 300,000 ​ ​ 43,489 Total minimum payments required ¥ 22,735,714 ​ $ 3,295,843 ​
Schedule of Non - cancellable operating lease agreements	The Company entered into several non-cancellable operating lease agreements for office spaces. Future payments under such leases were included in lease liabilities as disclosed in Note 11, other than those within under lease agreements within one year which are disclosed as follows as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ RMB U.S. Dollars Twelve months ending December 30, ​ (Unaudited) ​ (Unaudited) 2023 ¥ 764,700 ​ $ 110,853 Total ¥ 764,700 ​ $ 110,853

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	6 Months Ended
	Dec. 31, 2022
RELATED PARTY TRANSACTIONS AND BALANCES
Schedule of Prepaid expenses related parties prepaid expenses	Prepaid expenses - related parties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2022 ​ ​ June 30, 2022 ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Founders ¥ 275,000 ¥ — ​ $ — Founders’ family member ​ — ​ — ​ — Total prepaid expenses - related parties ¥ 275,000 ¥ — ​ $ — ​
Schedule of leases from related parties	​ The details of leases from related parties are as below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Monthly Rent Monthly Rent Lessee Lessor Rent Period RMB USD Nanjing Recon One of the founders April 1, 2022 - March 31, 2024 ¥ 40,000 ​ $ 5,799 BHD One of the founders January 1, 2023- Dec 31, 2023 ​ 31,667 ​ 4,591 BHD One of the founders January 1, 2023- Dec 31, 2023 ​ 22,500 ​ 3,262 ​

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Dec. 31, 2022
VARIABLE INTEREST ENTITIES
Schedule of information regarding consolidated VIEs	Summary information regarding consolidated VIEs and their subsidiaries is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2022 ​ December 31, 2022 ​ ​ RMB U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) ASSETS ​ ​ ​ ​ ​ ​ ​ Current Assets ​ ​ ​ ​ ​ ​ ​ Cash ¥ 18,033,666 ​ ¥ 49,727,112 ​ $ 7,102,772 Restricted cash ​ ​ 723,560 ​ ​ 730,060 ​ ​ 105,832 Notes receivable ​ 10,828,308 ​ ​ 8,471,941 ​ 1,228,120 Trade accounts receivable, net ​ 22,577,980 ​ ​ 38,972,445 ​ 5,649,572 Inventories, net ​ ​ 3,894,369 ​ ​ 4,941,662 ​ ​ 716,359 Other receivables, net ​ ​ 5,500,981 ​ ​ 2,502,247 ​ ​ 362,734 Loans to third parties ​ ​ 30,270,563 ​ ​ 33,418,403 ​ ​ 4,844,440 Purchase advances, net ​ ​ 178,208 ​ ​ 554,700 ​ ​ 80,411 Contract costs, net ​ ​ 33,858,820 ​ ​ 27,747,782 ​ ​ 4,022,409 Prepaid expenses ​ ​ 165,120 ​ ​ 158,498 ​ ​ 22,976 Prepaid expenses- related parties ​ 275,000 ​ ​ — ​ — Total current assets ​ 126,306,575 ​ ​ 167,224,850 ​ ​ 24,135,625 ​ ​ ​ 　 ​ ​ ​ ​ ​ ​ ​ Property and equipment, net ​ ​ 25,474,162 ​ ​ 26,104,639 ​ ​ 3,784,213 Construction in progress ​ ​ 239,739 ​ ​ 267,571 ​ ​ 38,788 Intangible assets, net ​ ​ 5,950,000 ​ ​ 5,600,000 ​ ​ 811,794 Long-term other receivables, net ​ ​ 1,564,381 ​ ​ 620,000 ​ ​ 89,877 Long-term loan to a third party ​ ​ — ​ ​ 3,067,000 ​ ​ 444,602 Goodwill ​ ​ 4,730,002 ​ ​ 4,730,002 ​ ​ 685,676 Operating lease right-of-use assets ​ ​ 6,666,759 ​ ​ 5,038,871 ​ ​ 730,451 Total Assets ¥ 170,931,618 ​ ¥ 212,652,933 ​ $ 30,721,026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES ​ ​ ​ ​ ​ ​ ​ Short-term bank loans ¥ 10,000,000 ​ ¥ 10,000,000 ​ $ 1,449,633 Trade accounts payable ​ ​ 12,826,108 ​ ​ 12,956,285 ​ ​ 1,878,185 Other payables ​ ​ 1,469,761 ​ ​ 1,419,624 ​ ​ 205,793 Other payable- related parties ​ ​ 1,061,081 ​ ​ 1,260,100 ​ ​ 182,668 Contract liabilities ​ ​ 2,107,277 ​ ​ 161,400 ​ ​ 23,397 Accrued payroll and employees’ welfare ​ ​ 1,213,040 ​ ​ 1,093,689 ​ ​ 158,545 Intercompany payables* ​ ​ 194,373,010 ​ ​ 238,313,051 ​ ​ 34,546,635 Taxes payable ​ ​ 2,211,190 ​ ​ 2,885,155 ​ ​ 418,241 Short-term borrowings - related parties ​ 9,009,156 ​ 10,005,069 ​ 1,450,367 Long-term borrowings - related party - current portion ​ 999,530 ​ 1,041,981 ​ 151,049 Operating lease liabilities - current ​ 3,892,774 ​ 3,705,420 ​ 537,150 Total current liabilities ​ ​ 239,162,927 ​ ​ 282,841,774 ​ ​ 41,001,663 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities - non-current ​ 2,184,635 ​ 752,821 ​ 109,131 Long-term bank loan ​ ​ — ​ ​ 1,000,000 ​ ​ 144,963 Long-term borrowings - related party ​ 5,511,076 ​ 4,989,930 ​ ​ 723,356 Deferred tax liability ​ ​ 187,972 ​ ​ 187,972 ​ ​ 27,249 Total Liabilities ​ ¥ 247,046,610 ​ ¥ 289,772,497 ​ $ 42,006,362 ​ *Intercompany payables are eliminated upon consolidation.

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Dec. 31, 2022
SEGMENT REPORTING
Schedule of segment reporting information	The following tables present summary information by segment for the six months ended December 31, 2021 and 2022, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ RMB RMB U.S. Dollars ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Automation product and software ¥ 23,859,815 ¥ 19,055,227 ​ $ 2,762,307 Equipment, accessories and others ​ 6,187,975 ​ 9,730,859 ​ 1,410,617 Oilfield environmental protection ​ ​ 19,735,430 ​ ​ 12,789,684 ​ ​ 1,854,034 Platform Outsourcing Services ​ 4,628,504 ​ 3,983,821 ​ 577,508 Total revenue ¥ 54,411,724 ¥ 45,559,591 ​ $ 6,604,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, 2022 ​ Automation Equipment, Oilfield Platform ​ ​ ​ ​ product and ​ accessories ​ environmental ​ outsourcing ​ ​ ​ ​ ​ software ​ and others ​ protection ​ services ​ Total ​ ​ RMB ​ RMB ​ RMB ​ ​ RMB RMB ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ ​ (Unaudited) (Unaudited) Revenue ¥ 19,055,227 ¥ 9,730,859 ¥ 12,789,684 ​ ¥ 3,983,821 ¥ 45,559,591 Cost of revenue and related tax ​ 14,955,185 ​ 6,254,015 ​ 9,988,100 ​ ​ 1,230,472 ​ 32,427,772 Gross profit ¥ 4,100,042 ¥ 3,476,844 ¥ 2,801,584 ​ ¥ 2,753,349 ¥ 13,131,819 Depreciation and amortization ¥ 524,970 ¥ 358,954 ¥ 1,038,342 ​ ¥ 30,359 ¥ 1,952,625 Total capital expenditures ¥ 2,303,311 ¥ 3,008 ¥ — ​ ¥ 14,953 ¥ 2,321,272 Timing of revenue recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goods transferred at a point in time ​ ¥ 19,055,227 ​ ¥ 9,730,859 ​ ¥ 10,282,687 ​ ¥ 3,983,821 ​ ¥ 43,052,594 Services rendered over time ​ ​ — ​ — ​ 2,506,997 ​ ​ — ​ 2,506,997 Total revenue ​ ¥ 19,055,227 ​ ¥ 9,730,859 ​ ¥ 12,789,684 ​ ¥ 3,983,821 ​ ¥ 45,559,591 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, 2021 ​ Automation Equipment, Oilfield ​ Platform ​ ​ ​ ​ product and ​ accessories ​ environmental ​ ​ outsourcing ​ ​ ​ ​ ​ software ​ and others ​ protection ​ ​ services ​ Total ​ ​ RMB ​ RMB ​ RMB ​ RMB ​ RMB ​ ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) ​ (Unaudited) Revenue ¥ 23,859,815 ¥ 6,187,975 ¥ 19,735,430 ​ ¥ 4,628,504 ¥ 54,411,724 Cost of revenue and related tax ​ 20,580,830 ​ 2,918,195 ​ 14,102,092 ​ ​ 2,303,528 ​ 39,904,645 Gross profit ¥ 3,278,985 ¥ 3,269,780 ¥ 5,633,338 ​ ¥ 2,324,976 ¥ 14,507,079 Depreciation and amortization ¥ 214,213 ¥ 423,065 ¥ 996,247 ​ ¥ 35,305 ¥ 1,668,830 Total capital expenditures ¥ 12,384 ¥ 8,849 ¥ 135,873 ​ ¥ 180,065 ¥ 337,171 Timing of revenue recognition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goods transferred at a point in time ​ ¥ 23,859,815 ​ ¥ 6,187,975 ​ ¥ 10,113,712 ​ ¥ 4,628,504 ​ ¥ 44,790,006 Services rendered over time ​ ​ — ​ — ​ 9,621,718 ​ ​ — ​ 9,621,718 Total revenue ​ ¥ 23,859,815 ​ ¥ 6,187,975 ​ ¥ 19,735,430 ​ ¥ 4,628,504 ​ ¥ 54,411,724 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ ​ RMB ​ U.S. Dollars ​ ​ RMB ​ (Unaudited) ​ (Unaudited) Total assets: ​ ​ ​ Automation product and software ¥ 147,377,607 ¥ 162,825,397 ​ $ 23,603,699 Equipment, accessories and others ​ 149,876,933 ​ 158,662,332 ​ 23,000,208 Oilfield environmental protection ​ ​ 107,755,500 ​ ​ 96,259,885 ​ ​ 13,954,146 Platform outsourcing services ​ 85,232,044 ​ 76,476,827 ​ 11,086,327 Total assets ¥ 490,242,084 ¥ 494,224,441 ​ $ 71,644,380

CONDENSED FINANCIAL INFORMATI_2

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables)	6 Months Ended
	Dec. 31, 2022
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
Schedule of parent company balance sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, December 31, ​ ​ 2022 ​ 2022 ​ 2022 ​ ​ ​ ​ RMB ​ U.S. Dollars ​ RMB (Unaudited) (Unaudited) ASSETS ​ ​ ​ ​ ​ ​ Cash ¥ 296,838,959 ¥ 183,517,938 ​ $ 26,603,357 Due from intercompany ​ 205,224,961 ​ 285,747,507 ​ 41,422,888 Other current assets ​ 20,364,424 ​ 62,124,080 ​ 9,005,710 Total Current Assets ​ 522,428,344 ​ 531,389,525 ​ 77,031,955 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current assets ​ ​ ​ ​ ​ ​ Investment in subsidiaries and VIEs ​ (77,566,835) ​ (81,353,652) ​ (11,793,290) ​ ​ ​ ​ ​ ​ 　 ​ ​ ​ 　 ​ Total assets ¥ 444,861,509 ​ ¥ 450,035,873 ​ ¥ 65,238,665 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND SHAREHOLDERS’ EQUITY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other current liabilities ​ 7,552,452 ​ ​ 6,471,716 ​ ​ 938,161 Total current Liabilities ​ ​ 7,552,452 ​ ​ 6,471,716 ​ ​ 938,161 ​ ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ 　 ​ Warrant liability ​ 16,677,328 ​ ​ 37,043,871 ​ 5,370,000 LIABILITIES ​ 24,229,780 ​ ​ 43,515,587 ​ 6,308,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ COMMITMENTS AND CONTINGENCIES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SHAREHOLDERS’ EQUITY ​ ​ ​ ​ ​ ​ ​ Class A ordinary shares, $0.0925 U.S. dollar par value, 150,000,000 shares authorized; 29,700,718 shares and 29,700,718 shares issued and outstanding as of June 30, 2022 and December 31, 2022, respectively ​ 18,001,670 ​ ​ 18,001,670 ​ 2,609,581 Class B ordinary shares, $0.0925 U.S. dollar par value, 20,000,000 shares authorized; 4,100,000 shares and 4,100,000 shares issued and outstanding as of June 30, 2022 and December 31, 2022, respectively ​ 2,408,498 ​ ​ 2,408,498 ​ 349,144 Additional paid-in capital ​ 496,038,696 ​ ​ 502,139,970 ​ 72,791,843 Accumulated deficit ​ (107,124,596) ​ ​ (137,001,014) ​ (19,860,112) Accumulated other comprehensive income ​ 11,307,461 ​ ​ 20,971,162 ​ 3,040,048 Total shareholders’ equity ​ 420,631,729 ​ ​ 406,520,286 ​ 58,930,504 ​ ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ 　 ​ Total liabilities and shareholders’ equity ¥ 444,861,509 ​ ¥ 450,035,873 ​ $ 65,238,665 ​ * Due from subsidiaries, VIEs and VIEs’ subsidiaries are eliminated upon consolidation. ​
Schedule of parent company statements of operations and comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ (Unaudited) (Unaudited) (Unaudited) Revenues ¥ — ¥ — ​ $ — Cost of revenues ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ General and administrative expenses ​ 36,567,864 ​ 16,054,522 ​ 2,327,319 Provision for credit losses ​ 1,916,515 ​ — ​ — Loss from operations ​ (38,484,379) ​ (16,054,522) ​ (2,327,319) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) in fair value changes of warrants liability ​ 147,168,952 ​ (20,097,665) ​ (2,913,423) Other income ​ 2,584,170 ​ 3,716,168 ​ 538,708 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in earnings of subsidiaries, vies and vies' subsidiaries ​ 88,767 ​ 2,559,601 ​ 371,048 ​ ​ ​ 　 ​ ​ ​ 　 ​ ​ ​ 　 ​ Net income (loss) ¥ 111,357,510 ¥ (29,876,418) ​ $ (4,330,985) FOREIGN CURRENCY TRANSLATION ADJUSTMENTS ​ 　 ​ ​ 　 ​ ​ 　 ​ Foreign currency translation adjustments related to investments in subsidiaries, VIEs and VIEs' subsidiaries ​ (4,636,991) ​ 9,663,701 ​ 1,400,882 Comprehensive income (loss) attributable to the company ¥ 106,720,519 ¥ (20,212,717) ​ $ (2,930,103) ​
Schedule of parent company statements of cash flows	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended December 31, ​ ​ 2021 ​ 2022 ​ 2022 ​ ​ RMB ​ RMB ​ U.S. Dollars ​ (Unaudited) (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: ​ ​ ​ Net income (loss) ¥ 111,357,510 ¥ (29,876,418) ​ $ (4,330,985) Adjustments to reconcile net income (loss) to net cash used in operating activities: ​ ​ ​ Loss (gain) in fair value changes of warrants liability ​ (147,168,952) ​ 20,097,665 ​ 2,913,423 Provision for doubtful accounts ​ 1,916,515 ​ — ​ — Restricted shares issued for management and employees ​ 27,375,871 ​ 1,796,417 ​ 260,414 Income from investment in unconsolidated entity ​ (15,411) ​ — ​ — Restricted shares issued for services ​ 4,631,063 ​ 4,304,857 ​ 624,046 Equity in earnings of subsidiaries and VIEs ​ (88,767) ​ (2,559,601) ​ (371,048) Other current assets ​ (2,448,550) ​ (14,166,457) ​ (2,053,616) Other current liabilities ​ (7,226,571) ​ (1,080,736) ​ (156,667) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in operating activities ​ (11,667,292) ​ (21,484,273) ​ (3,114,433) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: ​ ​ ​ Repayments from loans to third parties ​ 111,796,100 ​ 20,694,900 ​ 3,000,000 Payments made for loans to third parties ​ (85,851,987) ​ (48,288,100) ​ (7,000,000) Due from intercompany, VIEs and VIEs’ subsidiaries ​ (45,913,426) ​ (80,522,546) ​ (11,672,810) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ​ (19,969,313) ​ (108,115,746) ​ (15,672,810) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate fluctuation on cash ​ (5,586,473) ​ 16,278,998 ​ 2,359,859 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net decrease in cash ​ (37,223,078) ​ (113,321,021) ​ (16,427,384) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CASH, beginning of period ​ 325,116,815 ​ 296,838,959 ​ 43,030,741 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CASH, end of period ¥ 287,893,737 ¥ 183,517,938 ​ $ 26,603,357 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-cash investing and financing activities ​ ​ ​ ​ Cancellation of shares issued ¥ (27,675,450) ¥ — ​ $ —

ORGANIZATION AND NATURE OF OP_2

ORGANIZATION AND NATURE OF OPERATIONS (Details)					6 Months Ended
	May 19, 2021	Apr. 26, 2021	Oct. 23, 2018	Sep. 25, 2017	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Oct. 16, 2017 CNY (¥)
ORGANIZATION AND NATURE OF OPERATIONS
Variable interest entity, terms of arrangements					the Company is able to absorb 90% of net interest or 100% of net loss of those VIEs.
Individuals
ORGANIZATION AND NATURE OF OPERATIONS
Remaining paid in capital					¥ 12,500,000	$ 1,812,041
Qing Hai BHD New Energy Technology Co., Ltd
ORGANIZATION AND NATURE OF OPERATIONS
Ownership percentage			10%
Beijing Bhd Petroleum Technology Co Ltd
ORGANIZATION AND NATURE OF OPERATIONS
Paid In capital					¥ 200,000
Equity interest of ownership percentage					49%
Remaining paid in capital					¥ 33,300,000	4,827,276
Gan Su BHD Environmental Technology Co., Ltd
ORGANIZATION AND NATURE OF OPERATIONS
Capital					50,000,000
Paid In capital					¥ 27,495,000	$ 3,985,765
Gan Su BHD Environmental Technology Co., Ltd | Beijing Bhd Petroleum Technology Co Ltd
ORGANIZATION AND NATURE OF OPERATIONS
Ownership interest held by parent					51%	51%
Percentage of equity interest transferred	3.60%	15.40%		2%
Gan Su BHD Environmental Technology Co., Ltd | Nanjing Recon
ORGANIZATION AND NATURE OF OPERATIONS
Percentage of equity interest transferred	15.40%
Ownership interest held by noncontrolling owner	19%
Gan Su BHD Environmental Technology Co., Ltd | Individuals
ORGANIZATION AND NATURE OF OPERATIONS
Ownership interest held by parent	51%
Qing Hai BHD New Energy Technology Co., Ltd
ORGANIZATION AND NATURE OF OPERATIONS
Capital							¥ 50,000,000
Paid In capital					¥ 4,200,000	$ 608,846
Equity interest of ownership percentage			55%		75%

ORGANIZATION AND NATURE OF OP_3

ORGANIZATION AND NATURE OF OPERATIONS - Energy consumption market opened to private and foreign companies (Details) - Future Gas Station (Beijing) Technology, Ltd				12 Months Ended
	Jan. 13, 2021 CNY (¥)	Jan. 13, 2021 USD ($)	Aug. 21, 2018 CNY (¥) shares	Jun. 30, 2019 CNY (¥) shares	Feb. 04, 2021	Dec. 15, 2017
ORGANIZATION AND NATURE OF OPERATIONS
Aggregate amount invested	¥ 30,530,000	$ 4,425,728
Domestic Companies
ORGANIZATION AND NATURE OF OPERATIONS
Equity interest acquired						8%
Ownership interest held					51%
Domestic Companies | Investment Agreement
ORGANIZATION AND NATURE OF OPERATIONS
Equity interest acquired			43%	43%
Investment in FGS agreed			¥ 10,000,000
Number of shares issued | shares			487,057	487,057
Aggregate amount invested				¥ 35,116,707
Domestic Companies | Fourth supplemental agreement
ORGANIZATION AND NATURE OF OPERATIONS
Equity interest acquired			8%		8%

LIQUIDITY (Details)

LIQUIDITY (Details)		6 Months Ended
	Sep. 01, 2021	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Jun. 30, 2021 CNY (¥)
LIQUIDITY
Future minimum purchase commitment under the non-cancellable purchase contracts		¥ 22,700,000	$ 3,300,000
Renewal term for commitment letter for financial support	3 years
Working capital		397,200,000			$ 57,600,000
Short-term borrowings due to related parties		10,005,069			1,450,367	¥ 9,009,156
Short-term bank loan		10,000,000			1,449,633	10,000,000
Cash out flow from the operating activities		(25,900,000)	$ (3,800,000)	¥ (23,040,333)
Cash		269,100,000			39,011,267	¥ 316,974,857
Related party
LIQUIDITY
Short-term borrowings due to related parties		10,000,000			1,500,000
Long-term borrowings from related parties		6,031,911			874,405		¥ 6,510,606
Short-term bank loan		¥ 11,000,000			$ 1,600,000

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
SIGNIFICANT ACCOUNTING POLICIES
Foreign currency transactions, description	¥6.8983 = US$1.00	¥6.8983 = US$1.00
Allowance for credit losses	¥ 500,000			$ 100,000
Impairment for long-lived assets	0		¥ 0
Equity method investment	0		0
Investment Income	0		15,411
Contract assets and contract liabilities from contracts with customers
Contract costs	27,747,782			4,022,409	¥ 33,858,820
Contract liabilities	161,400			$ 23,397	¥ 2,107,277
Shipping and handling expenses	4,021,899	$ 583,028	4,727,496
Revenue recognized	1,901,277	275,615	7,339,616
Impairment for goodwill	0		0
Shipping and Handling
Contract assets and contract liabilities from contracts with customers
Shipping and handling expenses	¥ 101,550	$ 14,721	¥ 38,811
Minimum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, useful life	2 years	2 years
Maximum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, estimated useful lives	P10Y	P10Y
Motor vehicles | Minimum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, useful life	5 years	5 years
Motor vehicles | Maximum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, estimated useful lives	P10Y	P10Y
Office equipment | Minimum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, useful life	2 years	2 years
Office equipment | Maximum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, useful life	5 years	5 years
Leasehold improvement
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, estimated useful lives	shorter of the lease term or the estimated useful life	shorter of the lease term or the estimated useful life
Production equipment | Minimum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, useful life	10 years	10 years
Production equipment | Maximum
SIGNIFICANT ACCOUNTING POLICIES
Property, plant and equipment, useful life	20 years	20 years

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Basic and diluted earnings per share (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($)
Numerator:
Net income (loss) attributable to Recon Technology, Ltd	¥ (29,876,418)	$ (4,330,985)	¥ 111,357,510
Denominator:
Weighted-average number of ordinary shares outstanding - basic	33,800,718	33,800,718	27,312,581
Outstanding options/warrants/convertible notes	¥ 10,536,433		¥ 10,393,622	$ 10,536,433
Potentially dilutive shares from outstanding options/warrants/convertible notes			1,464,411
Weighted-average number of ordinary shares outstanding - diluted	33,800,718	33,800,718	28,776,992
Earnings (loss) per share - basic | (per share)	¥ (0.88)	$ (0.13)	¥ 4.08
Earnings (loss) per share - diluted | (per share)	¥ (0.88)	$ (0.13)	¥ 3.87

TRADE ACCOUNTS RECEIVABLE, NE_2

TRADE ACCOUNTS RECEIVABLE, NET - Accounts receivable (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Third Parties
Total third-parties, net	¥ 38,972,445	$ 5,649,572	¥ 22,577,980
Third parties
Third Parties
Trade accounts receivable	43,387,471	6,289,588	27,206,752
Allowance for credit losses	(4,415,026)	(640,016)	(4,628,772)
Total third-parties, net	38,972,445	5,649,572	22,577,980
Third Parties- long-term
Trade accounts receivable	1,304,721	189,137	4,983,698
Allowance for credit losses	¥ (1,304,721)	$ (189,137)	¥ (4,983,698)

TRADE ACCOUNTS RECEIVABLE, NE_3

TRADE ACCOUNTS RECEIVABLE, NET - Movement of allowance for doubtful accounts (Details) - Third parties		6 Months Ended
	Jun. 30, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)
TRADE ACCOUNTS RECEIVABLE, NET
Beginning balance	¥ 9,315,427	¥ 9,612,470	$ 1,393,454
Charge to (reversal of) credit losses	153,329	(4,012,249)	(581,628)
Foreign currency translation adjustments	143,714	119,526	17,327
Ending balance	¥ 9,612,470	¥ 5,719,747	$ 829,153

TRADE ACCOUNTS RECEIVABLE, NE_4

TRADE ACCOUNTS RECEIVABLE, NET - Additional Information (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
TRADE ACCOUNTS RECEIVABLE, NET
Percentage of not-collection from our customers	47.7	47.7
Amount of not-collection from our customers	¥ 18,600,000	$ 2,700,000
Third parties
TRADE ACCOUNTS RECEIVABLE, NET
Net recovery of provision for credit losses made for accounts receivable due from related-party	¥ 4,012,249	$ 581,628	¥ 2,647,068

NOTES RECEIVABLE (Details)

NOTES RECEIVABLE (Details)	Jun. 30, 2023 CNY (¥)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
NOTES RECEIVABLE
Notes receivable			¥ 8,471,941	$ 1,228,120	¥ 10,828,308
Subsequent event
NOTES RECEIVABLE
Notes receivable	¥ 3,100,000	$ 400,000
Percentage of notes subsequently collected	36.2	36.2

OTHER RECEIVABLES, NET - Summar

OTHER RECEIVABLES, NET - Summary of Other receivables, net (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Jun. 29, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)
Current Portion
Allowance for credit losses	¥ (1,168,576)	$ (169,401)	¥ (619,444)	¥ (918,153)	¥ (619,444)	$ (89,797)
Other receivable - current portion	2,767,204	401,143	5,501,833
Third parties
Current Portion
Business advances to officers and staffs	606,319	87,894	1,441,807
Deposits for projects	1,895,762	274,816	3,259,236
VAT recoverable	424,668	61,561	437,095
Others	1,629,031	236,150	2,547,520
Subtotal	4,555,780	660,421	7,685,658
Less: Long term portion	(620,000)	(89,877)	(1,564,381)
Allowance for credit losses	(1,168,576)	(169,401)	(619,444)
Other receivable - current portion	¥ 2,767,204	$ 401,143	¥ 5,501,833

OTHER RECEIVABLES, NET - Summ_2

OTHER RECEIVABLES, NET - Summary of Movement of allowance for credit losses (Details)		6 Months Ended
	Jun. 30, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)
OTHER RECEIVABLES, NET
Beginning balance	¥ 918,153	¥ 619,444
Charge to (reversal of) credit losses	(294,644)	549,132	$ 79,604
Less: write-off	(4,065)
Ending balance	¥ 619,444	¥ 1,168,576	$ 169,401

OTHER RECEIVABLES, NET - Additi

OTHER RECEIVABLES, NET - Additional Information (Details)		6 Months Ended
	Jun. 30, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
OTHER RECEIVABLES, NET
Net recovery of provision for credit losses of other receivables	¥ (294,644)	¥ 549,132	$ 79,604
Provision for credit losses of other receivables				¥ 344,950

LOANS TO THIRD PARTIES (Details

LOANS TO THIRD PARTIES (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
LOANS TO THIRD PARTIES
Working fund to third party companies	¥ 98,156,205	$ 14,229,042	¥ 50,383,822
Less: Long term portion	(3,067,000)	(444,602)	0
Loans to third parties - current portion	¥ 95,089,205	$ 13,784,440	¥ 50,383,822

LOANS TO THIRD PARTIES - Additi

LOANS TO THIRD PARTIES - Additional Information (Details) ¥ in Millions, $ in Millions	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)
LOANS TO THIRD PARTIES
Proceeds from collection	¥ 4.5	$ 0.7
Effective percentage	4.80%	4.80%

CONTRACT COSTS, NET (Details)

CONTRACT COSTS, NET (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Jun. 30, 2021 CNY (¥)	Dec. 31, 2020 USD ($)
CONTRACT COSTS, NET
Contract costs	¥ 28,157,211			$ 4,081,761	¥ 37,922,302
Allowance for credit losses	(409,429)		¥ (4,063,482)	(59,352)	(4,063,482)	¥ (4,548,910)	$ (589,055)
Total contract costs, net	27,747,782			4,022,409	33,858,820
Contract costs	¥ 27,747,782			$ 4,022,409	¥ 33,858,820
Percentage of total contracts costs subsequently realized	10.30%			10.30%
Total contracts costs that have been subsequently realized	¥ 2,900,000			$ 400,000
Net recovery of provision for credit losses	¥ 3,751,575	$ 543,841	¥ 2,676,267

CONTRACT COSTS, NET - Movement

CONTRACT COSTS, NET - Movement of impairment of contract costs (Details)	6 Months Ended		12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
CONTRACT COSTS, NET
Beginning balance	¥ 4,063,482		¥ 4,548,910
Reversal of credit losses	(3,751,575)	$ (543,841)	(552,008)
Charge to cost of sales	97,522	14,138	66,580
Ending balance	¥ 409,429	$ 59,352	¥ 4,063,482

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
PROPERTY AND EQUIPMENT, NET.
Total property and equipment	¥ 39,767,954	$ 5,764,892	¥ 37,856,724
Less: accumulated depreciation	(12,895,003)	(1,869,302)	(11,614,250)
Less: Impairment for property and equipment	(768,312)	(111,377)	(768,312)
Property and equipment, net	26,104,639	3,784,213	25,474,162
Motor vehicles
PROPERTY AND EQUIPMENT, NET.
Total property and equipment	5,176,174	750,355	5,312,274
Office equipment and fixtures
PROPERTY AND EQUIPMENT, NET.
Total property and equipment	1,447,214	209,793	1,442,395
Production equipment
PROPERTY AND EQUIPMENT, NET.
Total property and equipment	30,884,566	4,477,127	31,102,055
Leasehold improvement
PROPERTY AND EQUIPMENT, NET.
Total property and equipment	2,260,000	327,617	0
Construction in Progress
PROPERTY AND EQUIPMENT, NET.
Property and equipment, net	¥ 267,571	$ 38,788	¥ 239,739

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
PROPERTY AND EQUIPMENT, NET.
Depreciation expenses	¥ 1,602,166	$ 232,255	¥ 1,318,517
Loss from property and equipment disposal	¥ 12,782	$ 1,853	¥ 35,279

BUSINESS ACQUISITION AND INVE_3

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY - Additional Information (Details)

6 Months Ended

12 Months Ended

Dec. 10, 2021 shares

Nov. 10, 2021 shares

Jun. 03, 2021 USD ($) shares

Jan. 13, 2021 CNY (¥) item shares

Dec. 10, 2019

Aug. 21, 2018 CNY (¥) shares

Dec. 31, 2022 CNY (¥) item shares

Dec. 31, 2022 USD ($) item shares

Dec. 31, 2021 CNY (¥) shares

Jun. 30, 2021 CNY (¥)

Jun. 30, 2021 CNY (¥)

Mar. 09, 2023 $ / shares

Jun. 03, 2021 CNY (¥)

Jun. 03, 2021 USD ($) $ / shares

Jan. 13, 2021 USD ($) item $ / shares

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Cost method investment ownership percentage

43%

43%

43%

Shares

487,057

Reverse stock split

0.2

0.2

Investment loss | ¥

¥ 0

¥ 15,411

Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Ownership percentage

51%

51%

Investment in Starry Blockchain Energy Pte. Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Ownership percentage

30%

30%

Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Payments to acquire additional interest in subsidiaries | ¥

¥ 10,000,000

Number of gas stations extending business | item

200

200

Number of Company's subsidiaries who entered into the fourth supplemental agreement to the investment agreement | item

2

2

Percentage of deemed consideration of equity.

8%

Equity method investment additional information

As consideration for increasing its affiliates’ interest in FGS from 8% to 43%, the Company will (1) pay a total of RMB 10 million in cash to FGS and (2) issue 487,057 restricted Class A Ordinary Shares of the Company (the “Restricted Shares”) to the other shareholders of FGS within 30 days after FGS finalizes recording the Company’s corresponding interest at the local governmental agency.

Stock price | $ / shares

$ 1.61

Fair market value of waived performance goals

¥ 1,689,807

$ 261,667

Remeasurement gain of previously held equity interests in connection with step acquisition | ¥

¥ 979,254

Amortization expense

¥ 350,000

$ 50,737

¥ 350,000

Number of shares cancelled

162,352

Investment in Starry Blockchain Energy Pte. Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Cost method investment ownership percentage

30%

30%

Payments to acquire equity method investments | $

$ 3,000,000

Stock price | $ / shares

$ 13.80

Fair value of shares issued

¥ 27,675,450

$ 4,327,600

Investment loss | ¥

¥ 15,411

Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Percentage of equity interest to be acquired in exchange for waiver of performance goals

8%

8%

Future Gas Station (Beijing) Technology, Ltd | Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Consideration in shares

487,057

Restricted shares

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Shares

0

0

128,672

Restricted shares issued for services (in shares)

500,000

Restricted shares | Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Consideration in shares

487,057

Minimum | Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Ownership percentage

8%

Maximum | Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Ownership percentage

43%

Subsequent event

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Stock price | $ / shares

$ 0.98

Class A ordinary shares

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Reverse stock split

0.2

Class A ordinary shares | Future Gas Station (Beijing) Technology, Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Shares

487,057

Class A ordinary shares | Investment in Starry Blockchain Energy Pte. Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Number of shares cancelled

316,345

Restricted shares issued for services (in shares)

500,000

Class A ordinary shares | Restricted shares

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Shares

250,000

Class A ordinary shares | Restricted shares | Investment in Starry Blockchain Energy Pte. Ltd

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY

Shares

316,345

Stock price | $ / shares

$ 9.48

BUSINESS ACQUISITION AND INVE_4

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY - Fair values of the identifiable assets and liabilities (Details) - Jan. 13, 2021 - Future Gas Station (Beijing) Technology, Ltd	CNY (¥)	USD ($)	USD ($)
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY.
Cash	¥ 471,843		$ 68,400
Trade accounts receivable, net	831,049		120,472
Other receivables, net	144,285		20,916
Contract costs, net	75,250		10,908
Prepaid expenses	91,132		13,211
Property and equipment, net	118,130		17,125
Intercompany receivables	6,850,000		992,998
Intangible assets- customer relationship	7,000,000		1,014,743
Goodwill	6,996,895		1,014,293
Trade accounts payable	(1,032,078)		(149,613)
Other payables	(1,273,182)		(184,565)
Other payable- related parties	(479,959)		(69,576)
Deferred revenue	(39,786)		(5,768)
Accrued payroll and employees' welfare	(1,629,519)		(236,220)
Taxes payable	(64,253)		(9,314)
Deferred tax liability	(1,050,000)		(152,213)
Total	17,009,807		$ 2,465,797
Deemed equity consideration to acquire 8% equity interest in FGS	1,689,807	$ 244,960
Fair value of previously held equity interest	30,530,000	4,425,728
Non-controlling interest	34,790,000	5,043,272
Capital contribution receivable due from non-controlling Interest	(50,000,000)	(7,248,163)
Total	¥ 17,009,807	$ 2,465,797

BUSINESS ACQUISITION AND INVE_5

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY - Fair value of identified goodwill acquired and carrying value (Details)	6 Months Ended		12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Jun. 30, 2022 CNY (¥)	Dec. 31, 2022 USD ($)
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY
The carrying value of goodwill as of December 31, 2022	¥ 4,730,002		¥ 4,730,002	$ 685,676
Impairment loss on goodwill	0	¥ 0
Future Gas Station (Beijing) Technology, Ltd
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY
Goodwill	6,996,895			1,014,292
Less: impairment	(2,266,893)			(328,616)
The carrying value of goodwill as of December 31, 2022	¥ 4,730,002			$ 685,676
Impairment loss on goodwill			¥ 2,266,893

BUSINESS ACQUISITION AND INVE_6

BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY - Fair value of identified intangible assets, customer relationship and its estimated useful lives (Details) - 6 months ended Dec. 31, 2022 - Future Gas Station (Beijing) Technology, Ltd	CNY (¥)	USD ($)
BUSINESS ACQUISITION AND INVESTMENT IN UNCONSOLIDATED ENTITY
Intangible assets - customer relationship	¥ 7,000,000	$ 1,014,743
Less: accumulated amortization	(1,400,000)	(202,949)
Total intangible assets, net as of December 31, 2022	¥ 5,600,000	$ 811,794
Average Useful Life (in Years)	10 years

LEASES - Operating lease relate

LEASES - Operating lease related assets and liabilities (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Operating lease related assets and liabilities recorded on the balance sheets
Rights of use lease assets, net	¥ 5,038,871	$ 730,451	¥ 6,666,759
Operating lease liabilities - current	3,705,420	537,150	3,892,774
Operating lease liabilities - non-current	752,821	109,131	2,184,635
Total operating lease liabilities	¥ 4,458,241	$ 646,281	¥ 6,077,409

LEASES - Weighted average remai

LEASES - Weighted average remaining lease terms and discount rates (Details)	Dec. 31, 2022	Jun. 30, 2022
Remaining lease terms and discount rate:
Weighted average remaining lease term (years)	15 years 3 months 21 days	16 years 2 months 4 days
Weighted average discount rate	5%	5%

LEASES - Maturities of lease li

LEASES - Maturities of lease liabilities (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Office Leases Commitment - short term
Remainder of 2023	¥ 2,343,837	$ 339,770
2024	2,222,504	322,182
Total lease payments	4,566,341	661,952
Less: imputed interest	(108,100)	(15,671)
Present value of lease liabilities	4,458,241	646,281	¥ 6,077,409
Operating lease liabilities - current	3,705,420	537,150	3,892,774
Operating lease liabilities - non-current	¥ 752,821	$ 109,131	¥ 2,184,635

LEASES - Additional information

LEASES - Additional information (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
LEASES
Rights of use lease assets, net	¥ 5,038,871			$ 730,451	¥ 6,666,759
Present value of lease liabilities	4,458,241			$ 646,281	¥ 6,077,409
Operating lease costs	1,694,074	$ 245,578	¥ 1,737,384
Short-term lease	¥ 480,040	$ 69,588	¥ 316,099
Minimum
LEASES
Lease term	1 year			1 year
Maximum
LEASES
Lease term	50 years			50 years

OTHER PAYABLES - Third Parties

OTHER PAYABLES - Third Parties (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
OTHER PAYABLES
Total	¥ 2,125,082	$ 308,059	¥ 3,533,918
Third parties
OTHER PAYABLES
Professional service fees	711,724	103,174	2,061,016
Distributors and employees	939,060	136,129	1,009,307
Accrued expenses	207,329	30,055	206,045
Others	266,969	38,701	257,550
Total	¥ 2,125,082	$ 308,059	¥ 3,533,918

OTHER PAYABLES - Related Partie

OTHER PAYABLES - Related Parties (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
OTHER PAYABLES
Total	¥ 2,125,082	$ 308,059	¥ 3,533,918
Related party
OTHER PAYABLES
Expenses paid by the major shareholders	1,675,182	242,840	1,396,419
Due to family members of the owners of BHD and FGS	545,159	79,028	590,159
Due to management staff for costs incurred on behalf of the company	250,927	36,375	253,557
Total	¥ 2,471,268	$ 358,243	¥ 2,240,135

TAXES PAYABLE (Details)

TAXES PAYABLE (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
TAXES PAYABLE
VAT payable	¥ 2,349,706	$ 340,621	¥ 1,741,972
Income tax payable	440,030	63,788	440,030
Other taxes payable	95,188	13,799	28,956
Total taxes payable	¥ 2,884,924	$ 418,208	¥ 2,210,958

BANK LOANS - Short-term bank lo

BANK LOANS - Short-term bank loans (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
BANK LOANS
Total short-term bank loans	¥ 10,000,000	$ 1,449,633	¥ 10,000,000
Beijing Rural Commercial Bank
BANK LOANS
Total short-term bank loans	¥ 10,000,000	$ 1,449,633	¥ 10,000,000

BANK LOANS - Short-term bank _2

BANK LOANS - Short-term bank loans - Narrative (Details)		6 Months Ended
	Apr. 13, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Apr. 13, 2022 USD ($)
BANK LOANS
Proceeds from debt		¥ 1,000,000	$ 144,963	¥ 0
Beijing Rural Commercial Bank
BANK LOANS
Term of debt	1 year
Interest rate (as a percent)	4.60%				4.60%
Carrying value of self-owned housing property pledged as collateral	¥ 17,600,000				$ 2,500,000
Interest expense on bank loan		¥ 227,918	$ 33,040	¥ 262,259
Beijing Rural Commercial Bank | Short term borrowings one
BANK LOANS
Face amount of debt	5,600,000				811,795
Beijing Rural Commercial Bank | Short term borrowings two
BANK LOANS
Face amount of debt	¥ 4,400,000				$ 637,838
Term of debt	1 year

BANK LOANS - Long-term bank loa

BANK LOANS - Long-term bank loan (Details) - Dec. 31, 2022	CNY (¥)	USD ($)
BANK LOANS
Long-term bank loan	¥ 1,000,000	$ 144,963
Bank of Kunlun
BANK LOANS
Long-term bank loan	¥ 1,000,000	$ 144,963

BANK LOANS - Long-term bank l_2

BANK LOANS - Long-term bank loan - Narrative (Details)			6 Months Ended
	Aug. 31, 2022 CNY (¥)	Aug. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Aug. 31, 2022 USD ($)
BANK LOANS
Proceeds from debt			¥ 1,000,000	$ 144,963	¥ 0
Bank of Kunlun
BANK LOANS
Face amount of debt	¥ 2,900,000					$ 420,393
Term of debt	18 months	18 months
Interest rate (as a percent)	6%					6%
Proceeds from debt	¥ 1,000,000	$ 144,963
Accounts receivable pledged as collateral	¥ 6,500,000					$ 1,000,000
Interest expense on bank loan			¥ 16,972	$ 2,460

SHORT-TERM BORROWINGS DUE TO _3

SHORT-TERM BORROWINGS DUE TO RELATED PARTIES - Due to related party (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES
Total short-term borrowings due to related parties	¥ 10,005,069	$ 1,450,367	¥ 9,009,156
Short term borrowings one
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES
Total short-term borrowings due to related parties			4,006,767
Debt Instrument, Maturity Date	Nov. 17, 2022
Debt Instrument, Interest Rate Percentage	4.35%
Short term borrowings two
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES
Total short-term borrowings due to related parties			¥ 5,002,389
Debt Instrument, Maturity Date	Dec. 26, 2022
Debt Instrument, Interest Rate Percentage	4.35%
Short term borrowings five.
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES
Total short-term borrowings due to related parties	¥ 10,005,069	$ 1,450,367
Debt Instrument, Maturity Date	Dec. 26, 2023
Debt Instrument, Interest Rate Percentage	3.65%

SHORT-TERM BORROWINGS DUE TO _4

SHORT-TERM BORROWINGS DUE TO RELATED PARTIES - Additional Information (Details) - Short term borrowings	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
SHORT-TERM BORROWINGS DUE TO RELATED PARTIES
Guaranteed or collateralized	¥ 0
Interest expense due to related party	¥ 142,725	$ 20,690	¥ 193,442

LONG-TERM BORROWINGS DUE TO R_3

LONG-TERM BORROWINGS DUE TO RELATED PARTY - Due to related party (Details) - Related party	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2021 CNY (¥)
LONG-TERM BORROWINGS DUE TO RELATED PARTY
Long-term bank loan	¥ 6,031,911	$ 874,405	¥ 6,510,606
Less: current portion	(1,041,981)	(151,049)	(999,530)
Total long-term borrowings due to related party	¥ 4,989,930	$ 723,356	¥ 5,511,076

LONG-TERM BORROWINGS DUE TO R_4

LONG-TERM BORROWINGS DUE TO RELATED PARTY - (Details) - Long-term borrowings - Related party - CNY (¥)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
LONG-TERM BORROWINGS DUE TO RELATED PARTY
Debt instrument, periodic payment		¥ 126,135
Debt instrument, interest rate, stated percentage	8.90%
Debt instrument, term	10 years

LONG-TERM BORROWINGS DUE TO R_5

LONG-TERM BORROWINGS DUE TO RELATED PARTY - Future maturities (Details) - Related party	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2021 CNY (¥)
LONG-TERM BORROWINGS DUE TO RELATED PARTY
2023	¥ 1,041,981	$ 151,049
2024	1,114,243	161,524
2025	1,217,558	176,501
2026	1,330,452	192,867
2027	1,327,677	192,464
Total	¥ 6,031,911	$ 874,405	¥ 6,510,606

LONG-TERM BORROWINGS DUE TO R_6

LONG-TERM BORROWINGS DUE TO RELATED PARTY - Additional Information (Details) - Long-term borrowings	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Jun. 30, 2022 CNY (¥)
LONG-TERM BORROWINGS DUE TO RELATED PARTY
Guaranteed or collateralized	¥ 0			¥ 0
Interest expense, long-term debt	¥ 278,116	$ 40,317	¥ 318,735

CLASS A ORDINARY SHARES (Detail

CLASS A ORDINARY SHARES (Details)					6 Months Ended
	Jun. 14, 2021 USD ($) $ / shares shares	Apr. 05, 2021 Vote ¥ / shares	Dec. 26, 2019 shares	Dec. 10, 2019 $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥) shares	Jun. 30, 2022 $ / shares shares	Jun. 30, 2021 CNY (¥)	Apr. 05, 2021 USD ($) $ / shares shares	Jun. 30, 2020 shares	May 26, 2020 shares	Dec. 10, 2019 ¥ / shares shares
CLASS A ORDINARY SHARES.
Reverse stock split ratio					0.2	0.2
Number of Ordinary Shares called for by warrants											1,680,000	911,112
Placement agent's fees and other estimated offering expenses					$ 4,700,000	¥ 30,408,264
Percentage Transfer Of Profit To Statutory Reserves					10%	10%
Transfer Of Profit To Statutory Reserves Up to Certain Percentage Of Registered Capital					50%	50%
Appropriated retained earnings					$ 601,442		¥ 4,148,929		¥ 4,148,929
Class A ordinary shares
CLASS A ORDINARY SHARES.
Reverse stock split ratio				0.2
Ordinary shares, shares authorized					150,000,000		150,000,000	150,000,000		150,000,000
Par value (in dollars per share) | (per share)	$ 0.0925	¥ 0.62			$ 0.0925			$ 0.0925		$ 0.0925			¥ 0.62
Number of ordinary share in lieu of the fractional share, the shareholder was entitled to receive			23,049,639
Ordinary shares, shares outstanding			4,611,720		29,700,718		29,700,718	29,700,718
Authorized share capital | $										$ 15,725,000
Number of votes | Vote		1
Share issuance (in shares)	6,014,102
Class A ordinary shares | Minimum
CLASS A ORDINARY SHARES.
Ordinary shares, shares authorized				20,000,000									20,000,000
Par value (in dollars per share) | $ / shares				$ 0.0185
Class A ordinary shares | Maximum
CLASS A ORDINARY SHARES.
Ordinary shares, shares authorized				100,000,000									100,000,000
Par value (in dollars per share) | $ / shares				$ 0.0925
Class B ordinary shares
CLASS A ORDINARY SHARES.
Ordinary shares, shares authorized					20,000,000		20,000,000	20,000,000		20,000,000
Par value (in dollars per share) | (per share)		¥ 0.62			$ 0.0925			$ 0.0925		$ 0.0925
Ordinary shares, shares outstanding					4,100,000		4,100,000	4,100,000
Authorized share capital | $										$ 1,850,000
Number of votes | Vote		15
Pre-funded warrants
CLASS A ORDINARY SHARES.
Share issuance (in shares)	2,800,000
Number of Ordinary Shares called for by warrants	8,814,102
Gross proceeds | $	$ 55,000,000

CLASS A ORDINARY SHARES - Pre f

CLASS A ORDINARY SHARES - Pre funded warrants (Details) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CLASS A ORDINARY SHARES
Weighted average exercise price outstanding per share	$ 0.01
Exercised	$ 0.01
Weighted average exercise price outstanding per share		$ 0.01
Weighted average remaining period, outstanding		5 years 5 months 15 days
Pre-funded warrants
CLASS A ORDINARY SHARES
Warrants Outstanding	1,470,000
Exercised	(1,470,000)
Warrants Outstanding		1,470,000

ORDINARY SHARES PURCHASE WARR_3

ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS (Details)		1 Months Ended	6 Months Ended
	May 26, 2020 USD ($) item $ / shares shares	Jun. 30, 2021 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 CNY (¥)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Jun. 14, 2021 USD ($)	Jun. 30, 2020 USD ($) $ / shares shares
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Number of offerings | item	2
Number of warrants to purchase ordinary shares	911,112										1,680,000
Exercise price of warrants (in dollars per share) | $ / shares	$ 2.25										$ 1.25
Fair value of warrants | $	$ 1,689,389		$ 2,880,000						$ 22,880,000		$ 1,639,333
Fair value of the warrant liability		$ 29,520,000	5,370,000			¥ 37,043,871	$ 2,490,000	¥ 16,677,328
Fair value changes of warrants liability		$ 5,340,000	$ 2,913,423	¥ 20,097,665	¥ (147,168,952)
Second Offering Member
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Number of warrants to purchase ordinary shares		8,814,102
Fair value of warrants		34,860,000
Risk free interest rate
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input	0.40		4.11			4.11	3	3		0.90	0.35
Measurement input, expected term
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input | $			3.96				4.46			5.50
Warrants and rights outstanding, term	5 years 6 months										5 years 6 months
Measurement input, price volatility
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input	99.50		108			108	109	109		111	104.26
Measurement input, expected dividend rate
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input	0										0

ORDINARY SHARES PURCHASE WARR_4

ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS - Measurement inputs (Details)	Dec. 31, 2022 USD ($) ¥ / shares	Jun. 30, 2022 USD ($) ¥ / shares	Jun. 14, 2021 ¥ / shares USD ($)	Jun. 30, 2020	May 26, 2020
Share price
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input | ¥ / shares	1.26	0.66	5.01
Risk free interest rate
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input	4.11	3	0.90	0.35	0.40
volatility
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input	108	109	111	104.26	99.50
Exercise price
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input	0.0624	0.0624	0.0624
Warrant life
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants outstanding, measurement input | $	3.96	4.46	5.50

ORDINARY SHARES PURCHASE WARR_5

ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS - Liabilities (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Liabilities:
Warrant liability	$ 5,370,000	$ 2,490,000
Level 3
Liabilities:
Warrant liability	$ 5,370,000	$ 2,490,000

ORDINARY SHARES PURCHASE WARR_6

ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS - Warrant activities (Details) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Weighted average exercise price outstanding per share		$ 0.01
Exercised		$ 0.01
Weighted average exercise price outstanding per share			$ 0.01
Weighted average remaining period, outstanding			5 years 5 months 15 days
Warrant
ORDINARY SHARES PURCHASE WARRANTS ISSUED TO INVESTORS
Warrants Outstanding	8,814,102	8,814,102
Warrants Outstanding	8,814,102	8,814,102	8,814,102
Weighted average exercise price outstanding per share	$ 6.24	$ 6.24
Weighted average exercise price outstanding per share	$ 6.24	$ 6.24	$ 6.24
Weighted average remaining period, outstanding	3 years 11 months 15 days	4 years 5 months 15 days	5 years 5 months 15 days

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details)	Dec. 31, 2022 $ / shares	Jun. 30, 2022 $ / shares	Jun. 14, 2021 $ / shares	Apr. 05, 2021 $ / shares	Apr. 05, 2021 ¥ / shares	Dec. 10, 2019 ¥ / shares
Class A ordinary shares [Member]
Short-term Debt [Line Items]
Ordinary shares, par value (in dollars per share) | (per share)	$ 0.0925	$ 0.0925	$ 0.0925	$ 0.0925	¥ 0.62	¥ 0.62

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
SHARE-BASED COMPENSATION
Stock Options, Shares, Outstanding at Beginning	80,000	109,520
Stock Options, Shares, Granted	0	0
Forfeited	0	(29,520)
Stock Option, Shares, Exercised	0	0
Stock Option, Shares, Expired	0	0
Stock Options, Shares, Outstanding at Ending	80,000	80,000
Stock Options, Weighted Average Exercise Price Per share, Outstanding at Beginning	$ 8.25	$ 10.02
Stock Options, Weighted Average Exercise Price Per share, Granted	0	0
Stock Options, Weighted Average Exercise Price Per share, Forfeited	0	14.80
Stock Options, Weighted Average Exercise Price Per share, Exercised	0	0
Stock Options, Weighted Average Exercise Price Per share, Expired	0	0
Stock Options, Weighted Average Exercise Price Per share, Outstanding at Ending	$ 8.25	$ 8.25

SHARE-BASED COMPENSATION - Opti

SHARE-BASED COMPENSATION - Option outstanding (Details)	6 Months Ended
	Dec. 31, 2022 $ / shares shares
SHARE-BASED COMPENSATION
Outstanding Options, Number (in shares)	80,000
Stock option one [Member]
SHARE-BASED COMPENSATION
Outstanding Options, Average Exercise Price | $ / shares	$ 8.25
Outstanding Options, Number (in shares)	80,000
Outstanding Options, Average Remaining Contractual life (Years)	2 years 1 month 2 days
Exercisable Options, Average Exercise Price | $ / shares	$ 8.25
Exercisable Options, Number (in shares)	80,000
Exercisable Options, Average Remaining Contractual life (years)	2 years 1 month 2 days

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted shares (Details) - shares	6 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
SHARE-BASED COMPENSATION
Stock Options, Shares, Granted	0		0
Restricted Stock [Member]
SHARE-BASED COMPENSATION
Non-vested, Beginning Balance - Shares	2,167,331	130,400	130,400
Stock Options, Shares, Granted		0	7,292,331
Vested - Shares		(525,000)	(5,255,400)
Non-vested, Ending Balance - Shares	1,642,331		2,167,331

SHARE-BASED COMPENSATION - Stat

SHARE-BASED COMPENSATION - Status of restricted stock (Details) - Fair Value per Share 1.04	6 Months Ended
	Dec. 31, 2021 $ / shares shares
Outstanding Restricted Shares, Fair Value per Share | $ / shares	$ 1.04
Restricted shares
Outstanding Restricted Shares, Number | shares	1,642,331
Outstanding Restricted Shares, Average Remaining Amortization Period (Years)	2 years 1 month 28 days

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details)

1 Months Ended

6 Months Ended

12 Months Ended

Feb. 28, 2022 USD ($) $ / shares shares

Jan. 05, 2022 USD ($) $ / shares shares

Dec. 10, 2021 $ / shares shares

Dec. 05, 2021 USD ($) $ / shares shares

Nov. 10, 2021 shares

Aug. 21, 2018 $ / shares shares

Aug. 27, 2018 shares

Aug. 21, 2018 USD ($) $ / shares shares

Dec. 31, 2022 CNY (¥) shares

Dec. 31, 2022 USD ($) $ / shares shares

Dec. 31, 2021 CNY (¥) shares

Jun. 30, 2022 shares

SHARE-BASED COMPENSATION

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

0

0

0

Restricted stock closing price | $ / shares

$ 1.04

Shares

487,057

Exercise price (per share) | $ / shares

$ 1.29

August 2018

SHARE-BASED COMPENSATION

Exercisable Options, Average Remaining Contractual life (years)

3 years

Share-Based Payment Arrangement, Option

SHARE-BASED COMPENSATION

Stock or Unit Option Plan Expense | ¥

¥ 0

¥ 0

Share-based compensation | ¥

0

Restricted shares

SHARE-BASED COMPENSATION

Stock or Unit Option Plan Expense

¥ 1,796,417

$ 260,414

¥ 27,375,871

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

0

7,292,331

Restricted stock closing price | $ / shares

$ 1.60

$ 1.67

$ 1.31

Restricted shares issued for services (in shares)

500,000

Shares outstanding

0

Shares

0

0

128,672

Granted during the period

2,500,000

Restricted shares | Class A ordinary shares

SHARE-BASED COMPENSATION

Shares

250,000

Restricted shares | Class B ordinary shares

SHARE-BASED COMPENSATION

Shares

2,500,000

Restricted shares | Senior Manager

SHARE-BASED COMPENSATION

Share-based compensation | ¥

¥ 1,200,000

Shares outstanding

250,000

Outstanding Restricted Shares, Average Remaining Amortization Period (Years)

2 years 1 month 28 days

Restricted shares | Senior Manager | Class A ordinary shares

SHARE-BASED COMPENSATION

Shares outstanding

128,672

Restricted shares | Senior Manager | Class B ordinary shares

SHARE-BASED COMPENSATION

Shares outstanding

2,500,000

Restricted shares | Management

SHARE-BASED COMPENSATION

Share-based compensation | ¥

8,500,000

Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period, fair value | $

$ 1,694,000

$ 4,175,000

Restricted stock closing price | $ / shares

$ 1.06

Granted during the period

1,600,000

Restricted shares | August 2018

SHARE-BASED COMPENSATION

Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period, fair value | $

$ 1,708,024

$ 2,523,240

Restricted stock closing price | $ / shares

$ 6.45

$ 6.45

Granted during the period

1,642,331

391,200

Restricted shares | August 2018 | Independent Company

SHARE-BASED COMPENSATION

Number of shares issued

1,050,000

Stock issued value for services | $

$ 1,354,500

Restricted class A ordinary shares

SHARE-BASED COMPENSATION

Stock or Unit Option Plan Expense

¥ 4,304,857

$ 624,046

¥ 4,631,063

Restricted shares issued (in shares)

250,000

Restricted shares issued for services (in shares)

250,000

INCOME TAX - Income (loss) befo

INCOME TAX - Income (loss) before provision for income taxes (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
INCOME TAX
Outside China areas	¥ (32,395,145)	$ (4,696,108)	¥ 111,262,428
China	2,531,634	366,994	224,203
Total	¥ (29,863,511)	$ (4,329,114)	¥ 111,486,631

INCOME TAX - Deferred tax asset

INCOME TAX - Deferred tax assets and liabilities, net (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Deferred tax assets:
Allowance for credit losses	¥ 742,481	$ 107,632	¥ 1,781,573
Impairment for inventory	51,745	7,501	59,913
Net operating loss carryforwards	17,979,524	2,606,369	16,511,047
Subtotal	18,773,750	2,721,502	18,352,533
Less: Valuation allowance	(17,653,971)	(2,559,176)	(17,193,874)
Total deferred tax assets, net	1,119,779	162,326	1,158,659
Deferred tax liabilities:
Accelerated amortization of intangible assets	(132,891)	(19,264)	(119,271)
Gain on the previously held equity method investment	(146,888)	(21,293)	(146,888)
Recognition of customer relationship arising from business combinations	(840,000)	(121,769)	(892,500)
Total deferred tax liabilities	(1,119,779)	(162,326)	(1,158,659)
Deferred tax liabilities, net	¥ 0	$ 0	¥ 0

INCOME TAX - NOL expiration (De

INCOME TAX - NOL expiration (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
INCOME TAX
2023	¥ 13,146,922	$ 1,905,821
2024	10,484,902	1,519,925
2025	19,617,124	2,843,762
2026	32,533,742	4,716,197
2027	27,137,905	3,933,999
Total	¥ 102,920,595	$ 14,919,704	¥ 94,600,000

INCOME TAX - Income tax expense

INCOME TAX - Income tax expense (benefit) (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
INCOME TAX
Current income tax provision	¥ 9,180	$ 1,331	¥ 2,889
Deferred income tax provision	0		104,315
Expense for income tax	¥ 9,180	$ 1,331	¥ 107,204

INCOME TAX - Additional Informa

INCOME TAX - Additional Information (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
INCOME TAX
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	25%	25%
Cumulative net operating loss	¥ 102,920,595		$ 14,919,704	¥ 94,600,000
Additional NOL incurred by VIEs and VIEs' subsidiaries	¥ 8,300,000	$ 1,200,000
Nanjing Recon
INCOME TAX
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	15%	15%
Beijing Bhd Petroleum Technology Co Ltd
INCOME TAX
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	15%	15%

NON-CONTROLLING INTEREST (Detai

NON-CONTROLLING INTEREST (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Jun. 30, 2022 USD ($)
NON-CONTROLLING INTEREST
Paid-in capital	¥ 502,139,970	$ 72,791,843	¥ 496,038,696
Accumulated other comprehensive loss	20,971,162	3,040,048	11,307,461
Total non-controlling interests	(7,743,241)	(1,122,484)	(7,746,968)
Non-controlling Interest
NON-CONTROLLING INTEREST
Paid-in capital	6,656,000	964,875	6,656,000	$ 993,771
Unappropriated retained earnings (deficit)	(288,538)	(41,826)	(292,265)	(43,635)
Accumulated other comprehensive loss	(30,703)	(4,451)	(30,703)	(4,584)
Total non-controlling interests	(7,743,241)	(1,122,484)	(7,746,968)	(1,156,656)
Valuation increase shared by minority shareholders	34,790,000	5,043,272	34,790,000	5,194,303
Capital contribution receivable due from non-controlling Interest	(48,870,000)	$ (7,084,354)	(48,870,000)	$ (7,296,511)
BHD | Non-controlling Interest
NON-CONTROLLING INTEREST
Paid-in capital	1,651,000		1,651,000
Unappropriated retained earnings (deficit)	3,477,493		3,477,493
Accumulated other comprehensive loss	(18,850)		(18,850)
Total non-controlling interests	5,109,643		5,109,643
Nanjing Recon | Non-controlling Interest
NON-CONTROLLING INTEREST
Paid-in capital	200,000		200,000
Unappropriated retained earnings (deficit)	4,184,740		3,616,001
Accumulated other comprehensive loss	(11,853)		(11,853)
Total non-controlling interests	4,372,887		3,804,148
Gan Su BHD | Non-controlling Interest
NON-CONTROLLING INTEREST
Paid-in capital	4,805,000		4,805,000
Unappropriated retained earnings (deficit)	(5,512,944)		(4,972,129)
Accumulated other comprehensive loss	0
Total non-controlling interests	(707,944)		(167,129)
Valuation increase shared by minority shareholders	0
Capital contribution receivable due from non-controlling Interest	0
Qinghai BHD | Non-controlling Interest
NON-CONTROLLING INTEREST
Paid-in capital	0
Unappropriated retained earnings (deficit)	(1,541,330)		(1,520,225)
Accumulated other comprehensive loss	0
Total non-controlling interests	(1,541,330)		(1,520,225)
Valuation increase shared by minority shareholders	0
Capital contribution receivable due from non-controlling Interest	0
FGS | Non-controlling Interest
NON-CONTROLLING INTEREST
Unappropriated retained earnings (deficit)	(896,497)		(893,405)
Total non-controlling interests	(14,976,497)		(14,973,405)
Valuation increase shared by minority shareholders	34,790,000		34,790,000
Capital contribution receivable due from non-controlling Interest	¥ (48,870,000)		¥ (48,870,000)

CONCENTRATIONS (Details)

CONCENTRATIONS (Details) $ in Millions	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021	Dec. 31, 2022 USD ($)	Dec. 31, 2022 HKD ($)	Jun. 30, 2022 CNY (¥)
China
CONCENTRATIONS
Cash was on deposit at financial institutions	¥ 58,200,000		$ 8.4		¥ 20,300,000
Maximum insured bank deposit | ¥	500,000
Unprotected cash held in banks	54,000,000		7.8		17,800,000
Hong Kong
CONCENTRATIONS
Cash was on deposit at financial institutions	211,500,000		30.7		297,200,000
Maximum insured bank deposit | $				$ 500,000
Unprotected cash held in banks	¥ 209,400,000		$ 30.4		¥ 296,800,000
China National Petroleum Corporation | Customer One | Accounts Receivable
CONCENTRATIONS
Concentration risk, percentage		13%
China National Petroleum Corporation | Customer concentration | Sales revenue
CONCENTRATIONS
Concentration risk, percentage	41%	48%
China National Petroleum Corporation | Customer concentration | Accounts Receivable
CONCENTRATIONS
Concentration risk, percentage	43%	54%
SINOPEC | Customer concentration | Sales revenue
CONCENTRATIONS
Concentration risk, percentage	31%	26%
SINOPEC | Customer concentration | Accounts Receivable
CONCENTRATIONS
Concentration risk, percentage	18%	13%
Another Customer [Member] | Customer concentration | Sales revenue
CONCENTRATIONS
Concentration risk, percentage	10%	14%
Another Customer [Member] | Customer concentration | Accounts Receivable
CONCENTRATIONS
Concentration risk, percentage	14%

COMMITMENTS AND CONTINGENCY - P

COMMITMENTS AND CONTINGENCY - Purchase commitment (Details) - Dec. 31, 2022 - Purchase Commitment	CNY (¥)	USD ($)
Purchase commitment
2023	¥ 22,135,714	$ 3,208,865
2024	300,000	43,489
2025	300,000	43,489
Total minimum payments required	¥ 22,735,714	$ 3,295,843

COMMITMENTS AND CONTINGENCY - O

COMMITMENTS AND CONTINGENCY - Office Leases Commitment - short term (Details) - Dec. 31, 2022 - Office Leases Commitment	CNY (¥)	USD ($)
Office Leases Commitment - short term
2023	¥ 764,700	$ 110,853
Total	¥ 764,700	$ 110,853

COMMITMENTS AND CONTINGENCY - A

COMMITMENTS AND CONTINGENCY - Additional Information (Details) $ in Thousands, ¥ in Millions, $ in Millions			6 Months Ended
	Jan. 09, 2023 CNY (¥)	Jan. 09, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 01, 2021 CNY (¥)	Dec. 01, 2021 USD ($)
COMMITMENTS AND CONTINGENCY
Severance Payments			¥ 7.4	$ 1.1
Legal contingencies
COMMITMENTS AND CONTINGENCY
Restricted cash balance						¥ 0.7	$ 0.1
Trade accounts payable due				0.3	$ 1,820
Amount of damages claimed			¥ 2	$ 0.3
Legal contingencies | Subsequent event
COMMITMENTS AND CONTINGENCY
Settlement payment totaling	¥ 1.8	$ 0.3

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND BALANCES - Prepaid expenses (Details)	6 Months Ended		12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
RELATED PARTY TRANSACTIONS AND BALANCES
Total prepaid expenses - related parties	¥ 0	$ 0	¥ 275,000
Founders
RELATED PARTY TRANSACTIONS AND BALANCES
Total prepaid expenses - related parties	0	0	¥ 275,000
Founders' family member
RELATED PARTY TRANSACTIONS AND BALANCES
Total prepaid expenses - related parties	¥ 0	$ 0

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND BALANCES - Leases from related parties (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)
Monthly Payment
RELATED PARTY TRANSACTIONS AND BALANCES
Operating lease expense	¥ 1,100,000	$ 200,000
Nanjing Recon | Founders
RELATED PARTY TRANSACTIONS AND BALANCES
Lessee, Operating Lease, Period of Contract	April 1, 2022 - March 31, 2024	April 1, 2022 - March 31, 2024
Nanjing Recon | Founders | Monthly Payment
RELATED PARTY TRANSACTIONS AND BALANCES
Operating lease expense	¥ 40,000	$ 5,799
BHD | Founders' family member
RELATED PARTY TRANSACTIONS AND BALANCES
Lessee, Operating Lease, Period of Contract	January 1, 2023- Dec 31, 2023	January 1, 2023- Dec 31, 2023
BHD | Founders' family member | Monthly Payment
RELATED PARTY TRANSACTIONS AND BALANCES
Operating lease expense	¥ 22,500	$ 3,262
BHD | Founders
RELATED PARTY TRANSACTIONS AND BALANCES
Lessee, Operating Lease, Period of Contract	January 1, 2023- Dec 31, 2023	January 1, 2023- Dec 31, 2023
BHD | Founders | Monthly Payment
RELATED PARTY TRANSACTIONS AND BALANCES
Operating lease expense	¥ 31,667	$ 4,591

RELATED PARTY TRANSACTIONS AN_5

RELATED PARTY TRANSACTIONS AND BALANCES - Additional Information (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
RELATED PARTY TRANSACTIONS AND BALANCES
Rights of use lease assets, net	¥ 5,038,871		$ 730,451	¥ 6,666,759
Present value of lease liabilities	4,458,241		646,281	6,077,409
Monthly Payment
RELATED PARTY TRANSACTIONS AND BALANCES
Operating lease expense	1,100,000	$ 200,000
Related party
RELATED PARTY TRANSACTIONS AND BALANCES
Rights of use lease assets, net	553,226		80,197	765,241
Present value of lease liabilities	553,226		$ 80,197	¥ 765,241
Related party | Monthly Payment
RELATED PARTY TRANSACTIONS AND BALANCES
Operating lease expense	¥ 94,167	$ 13,652

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Jun. 30, 2021 CNY (¥)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 CNY (¥)
Current assets
Cash	¥ 269,100,000	$ 39,011,267	¥ 316,974,857
Restricted cash	730,060	105,832	723,560	$ 104,890	¥ 0	¥ 0
Notes receivable	8,471,941	1,228,120	10,828,308
Trade accounts receivable, net	38,972,445	5,649,572	22,577,980
Inventories, net	4,941,662	716,359	3,894,369
Other receivables, net	2,767,204	401,143	5,501,833
Loans to third parties	95,089,205	13,784,440	50,383,822
Purchase advances, net	554,700	80,411	178,208
Contract costs, net	27,747,782	4,022,409	33,858,820
Prepaid expenses	409,939	59,426	420,284
Prepaid expenses - related parties	0	0	275,000
Total current assets	448,796,358	65,058,979	445,617,041
Property and equipment, net	26,104,639	3,784,213	25,474,162
Construction in progress	267,571	38,788	239,739
Intangible assets, net	5,600,000	811,794	5,950,000
Long-term other receivables, net	620,000	89,877	1,564,381
Long-term loan to a third party	3,067,000	444,602	0
Goodwill	4,730,002	685,676	4,730,002
Operating lease right-of-use assets	5,038,871	730,451	6,666,759
Total Assets	494,224,441	71,644,380	490,242,084
Current liabilities
Short-term bank loan	10,000,000	1,449,633	10,000,000
Trade accounts payable	16,987,376	2,462,542	16,739,989
Other payables	2,125,082	308,059	3,533,918
Other payable- related parties	2,471,268	358,243	2,240,135
Contract liabilities	55,400	8,031	2,001,277
Accrued payroll and employees' welfare	2,278,254	330,263	2,250,547
Taxes payable	2,884,924	418,208	2,210,958
Short-term borrowings - related parties	10,005,069	1,450,367	9,009,156
Operating lease liabilities - current	3,705,420	537,150	3,892,774
Total Current Liabilities	51,554,774	7,473,545	52,878,284
Operating lease liabilities - non-current	752,821	109,131	2,184,635
Total Liabilities	95,447,396	13,836,361	77,357,323
VIE
Current assets
Cash	49,727,112	7,102,772	18,033,666
Restricted cash	730,060	105,832	723,560
Notes receivable	8,471,941	1,228,120	10,828,308
Trade accounts receivable, net	38,972,445	5,649,572	22,577,980
Inventories, net	4,941,662	716,359	3,894,369
Other receivables, net	2,502,247	362,734	5,500,981
Loans to third parties	33,418,403	4,844,440	30,270,563
Purchase advances, net	554,700	80,411	178,208
Contract costs, net	27,747,782	4,022,409	33,858,820
Prepaid expenses	158,498	22,976	165,120
Prepaid expenses - related parties	0	0	275,000
Total current assets	167,224,850	24,135,625	126,306,575
Property and equipment, net	26,104,639	3,784,213	25,474,162
Construction in progress	267,571	38,788	239,739
Intangible assets, net	5,600,000	811,794	5,950,000
Long-term other receivables, net	620,000	89,877	1,564,381
Long-term loan to a third party	3,067,000	444,602	0
Goodwill	4,730,002	685,676	4,730,002
Operating lease right-of-use assets	5,038,871	730,451	6,666,759
Total Assets	212,652,933	30,721,026	170,931,618
Current liabilities
Short-term bank loan	10,000,000	1,449,633	10,000,000
Trade accounts payable	12,956,285	1,878,185	12,826,108
Other payables	1,419,624	205,793	1,469,761
Contract liabilities	161,400	23,397	2,107,277
Accrued payroll and employees' welfare	1,093,689	158,545	1,213,040
Intercompany payables	238,313,051	34,546,635	194,373,010
Taxes payable	2,885,155	418,241	2,211,190
Short-term borrowings - related parties	10,005,069	1,450,367	9,009,156
Long-term borrowings - related party - current portion	1,041,981	151,049	999,530
Operating lease liabilities - current	3,705,420	537,150	3,892,774
Total Current Liabilities	282,841,774	41,001,663	239,162,927
Operating lease liabilities - non-current	752,821	109,131	2,184,635
Long-term bank loan	1,000,000	144,963	0
Long-term borrowings - related party	4,989,930	723,356	5,511,076
Deferred tax liability	187,972	27,249	187,972
Total Liabilities	289,772,497	42,006,362	247,046,610
RECON TECHNOLOGY LTD
Current assets
Cash	183,517,938	26,603,357	296,838,959		¥ 287,893,737	296,838,959	$ 43,030,741	¥ 325,116,815
Total current assets	531,389,525	77,031,955	522,428,344
Total Assets	450,035,873	65,238,665	444,861,509
Current liabilities
Other payables	6,471,716	938,161	7,552,452
Total Current Liabilities	6,471,716	938,161	7,552,452
Total Liabilities	43,515,587	6,308,161	24,229,780
Related Party [Member]
Current assets
Operating lease right-of-use assets	553,226	80,197	765,241
Current liabilities
Short-term bank loan	11,000,000	1,600,000
Other payables	2,471,268	358,243	2,240,135
Short-term borrowings - related parties	10,000,000	1,500,000
Long-term borrowings - related party - current portion	1,041,981	151,049				999,530
Operating lease liabilities - current	439,865	63,764	429,265
Operating lease liabilities - non-current	113,361	16,433	335,976
Long-term bank loan	6,031,911	874,405				6,510,606
Long-term borrowings - related party	4,989,930	723,356				¥ 5,511,076
Related Party [Member] | VIE
Current liabilities
Other payable- related parties	¥ 1,260,100	$ 182,668	¥ 1,061,081

VARIABLE INTEREST ENTITIES - Ad

VARIABLE INTEREST ENTITIES - Additional Information (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Variable Interest Entity [Line Items]
Revenues	¥ 45,559,591	$ 6,604,466	¥ 54,411,724
Operating expenses	28,202,033	4,088,259	51,848,045
Net income (loss)	29,876,418	4,330,985	(111,357,510)
VIE
Variable Interest Entity [Line Items]
Revenues	45,559,591	6,604,466	54,411,724
Operating expenses	11,643,918	1,687,940	8,975,330
Net income (loss)	¥ (2,974,474)	$ 431,189	¥ (841,261)

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥) segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 CNY (¥) segment
Number of operating segments	4	4	4
Total revenue	¥ 45,559,591	$ 6,604,466	¥ 54,411,724
Automation product and software
Total revenue	19,055,227	2,762,307	23,859,815
Equipment, accessories and others
Total revenue	9,730,859	1,410,617	6,187,975
Oilfield environmental protection
Total revenue	12,789,684	1,854,034	19,735,430
Platform Outsourcing Services
Total revenue	¥ 3,983,821	$ 577,508	¥ 4,628,504

SEGMENT REPORTING - Company's r

SEGMENT REPORTING - Company's revenue (Details)	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Revenues	¥ 45,559,591	$ 6,604,466	¥ 54,411,724
Cost of revenue and related tax	32,427,772	4,700,835	39,904,645
Gross profit	13,131,819	1,903,631	14,507,079
Depreciation and amortization	1,952,625	283,059	1,668,830
Total capital expenditures	2,321,272		337,171
Goods transferred at a point in time
Revenues	43,052,594		44,790,006
Services rendered over time
Revenues	2,506,997		9,621,718
Automation product and software
Revenues	19,055,227	2,762,307	23,859,815
Cost of revenue and related tax	14,955,185		20,580,830
Gross profit	4,100,042		3,278,985
Depreciation and amortization	524,970		214,213
Total capital expenditures	2,303,311		12,384
Automation product and software | Goods transferred at a point in time
Revenues	19,055,227		23,859,815
Equipment, accessories and others
Revenues	9,730,859	1,410,617	6,187,975
Cost of revenue and related tax	6,254,015		2,918,195
Gross profit	3,476,844		3,269,780
Depreciation and amortization	358,954		423,065
Total capital expenditures	3,008		8,849
Equipment, accessories and others | Goods transferred at a point in time
Revenues	9,730,859		6,187,975
Oilfield environmental protection
Revenues	12,789,684	1,854,034	19,735,430
Cost of revenue and related tax	9,988,100		14,102,092
Gross profit	2,801,584		5,633,338
Depreciation and amortization	1,038,342		996,247
Total capital expenditures			135,873
Oilfield environmental protection | Goods transferred at a point in time
Revenues	10,282,687		10,113,712
Oilfield environmental protection | Services rendered over time
Revenues	2,506,997		9,621,718
Platform Outsourcing Services
Revenues	3,983,821	$ 577,508	4,628,504
Cost of revenue and related tax	1,230,472		2,303,528
Gross profit	2,753,349		2,324,976
Depreciation and amortization	30,359		35,305
Total capital expenditures	14,953		180,065
Platform Outsourcing Services | Goods transferred at a point in time
Revenues	¥ 3,983,821		¥ 4,628,504

SEGMENT REPORTING - Total asset

SEGMENT REPORTING - Total assets (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Total assets:
Total Assets	¥ 494,224,441	$ 71,644,380	¥ 490,242,084
Automation product and software
Total assets:
Total Assets	162,825,397	23,603,699	147,377,607
Equipment, accessories and others
Total assets:
Total Assets	158,662,332	23,000,208	149,876,933
Oilfield environmental protection
Total assets:
Total Assets	96,259,885	13,954,146	107,755,500
Platform Outsourcing Services
Total assets:
Total Assets	¥ 76,476,827	$ 11,086,327	¥ 85,232,044

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)			1 Months Ended	6 Months Ended			12 Months Ended
	Mar. 15, 2023 USD ($) $ / shares shares	Mar. 09, 2023 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 CNY (¥)	Jun. 30, 2022 shares	Jun. 30, 2020 $ / shares shares	May 26, 2020 $ / shares shares
SUBSEQUENT EVENTS
Stock Options, Shares, Granted				0	0		0
Fair value changes of warrants liability			$ 5,340,000	¥ 20,097,665	$ 2,913,423	¥ (147,168,952)
Number of warrants to purchase ordinary shares								1,680,000	911,112
Exercise price of warrants (in dollars per share) | $ / shares								$ 1.25	$ 2.25
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
Stock price | $ / shares		$ 0.98
Fair value of granted shares | $		$ 4,900,000
Fair value changes of warrants liability | $	$ 8,000,000
Number of warrants to purchase ordinary shares	8,814,102
Warrant expiration term	5 years 6 months
Number of ordinary shares per unit	1
Exercise price of warrants (in dollars per share) | $ / shares	$ 0.80
SUBSEQUENT EVENTS | Class A ordinary shares
SUBSEQUENT EVENTS
Stock Options, Shares, Granted		2,000,000
Fair value changes of warrants liability | $	$ 8,000,000
Number of warrants to purchase ordinary shares	10,002,500
Exercise price of warrants (in dollars per share) | $ / shares	$ 0.01
Percentage on pre funded warrants	9.99%
SUBSEQUENT EVENTS | Class B ordinary shares
SUBSEQUENT EVENTS
Stock Options, Shares, Granted		3,000,000

CONDENSED FINANCIAL INFORMATI_3

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Additional Information (Details)	Dec. 31, 2022
VIE | Maximum
Condensed financial information of the parent company
Percent of consolidated net assets	25%

CONDENSED FINANCIAL INFORMATI_4

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Parent company balance sheets (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Jun. 30, 2021 CNY (¥)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 CNY (¥)
Total assets:
Cash	¥ 269,100,000	$ 39,011,267	¥ 316,974,857
Total current assets	448,796,358	65,058,979	445,617,041
Non-current assets
Total Assets	494,224,441	71,644,380	490,242,084
LIABILITIES AND SHAREHOLDERS' EQUITY
Other current liabilities	2,125,082	308,059	3,533,918
Total Current Liabilities	51,554,774	7,473,545	52,878,284
Total Liabilities	95,447,396	13,836,361	77,357,323
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Additional paid-in capital	502,139,970	72,791,843	496,038,696
Accumulated deficit	(141,149,943)	(20,461,555)	(111,273,525)
Accumulated other comprehensive loss	20,971,162	3,040,048	11,307,461
Total shareholders' equity	406,520,286	58,930,503	420,631,729
Total Liabilities and Equity	494,224,441	71,644,380	490,242,084
Class A ordinary shares [Member]
SHAREHOLDERS' EQUITY
Common stock value	18,001,670	2,609,581	18,001,670
Class B ordinary shares [Member]
SHAREHOLDERS' EQUITY
Common stock value	2,408,498	349,144	2,408,498
RECON TECHNOLOGY LTD
Total assets:
Cash	183,517,938	26,603,357	296,838,959	¥ 287,893,737	¥ 296,838,959	$ 43,030,741	¥ 325,116,815
Due from intercompany	285,747,507	41,422,888	205,224,961
Other current assets	62,124,080	9,005,710	20,364,424
Total current assets	531,389,525	77,031,955	522,428,344
Non-current assets
Investment in subsidiaries and VIEs	(81,353,652)	(11,793,290)	(77,566,835)
Total Assets	450,035,873	65,238,665	444,861,509
LIABILITIES AND SHAREHOLDERS' EQUITY
Other current liabilities	6,471,716	938,161	7,552,452
Total Current Liabilities	6,471,716	938,161	7,552,452
Warrant liability	37,043,871	5,370,000	16,677,328
Total Liabilities	43,515,587	6,308,161	24,229,780
SHAREHOLDERS' EQUITY
Additional paid-in capital	502,139,970	72,791,843	496,038,696
Accumulated deficit	(137,001,014)	(19,860,112)	(107,124,596)
Accumulated other comprehensive loss	20,971,162	3,040,048	11,307,461
Total shareholders' equity	406,520,286	58,930,504	420,631,729
Total Liabilities and Equity	450,035,873	65,238,665	444,861,509
RECON TECHNOLOGY LTD | Class A ordinary shares [Member]
SHAREHOLDERS' EQUITY
Common stock value	18,001,670	2,609,581	18,001,670
RECON TECHNOLOGY LTD | Class B ordinary shares [Member]
SHAREHOLDERS' EQUITY
Common stock value	¥ 2,408,498	$ 349,144	¥ 2,408,498

CONDENSED FINANCIAL INFORMATI_5

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Parent company balance sheets - Additional information (Details)	Dec. 31, 2022 $ / shares shares	Jun. 30, 2022 $ / shares shares	Jun. 14, 2021 $ / shares	Apr. 05, 2021 $ / shares shares	Apr. 05, 2021 ¥ / shares shares	Dec. 26, 2019 shares	Dec. 10, 2019 ¥ / shares
Class A ordinary shares [Member]
Parent company balance sheets
Ordinary shares, par value (in dollars per share) | (per share)	$ 0.0925	$ 0.0925	$ 0.0925	$ 0.0925	¥ 0.62		¥ 0.62
Ordinary shares, shares authorized	150,000,000	150,000,000		150,000,000	150,000,000
Ordinary shares, shares issued	29,700,718	29,700,718
Ordinary shares, shares outstanding	29,700,718	29,700,718				4,611,720
Class A ordinary shares [Member] | RECON TECHNOLOGY LTD
Parent company balance sheets
Ordinary shares, par value (in dollars per share) | $ / shares	$ 0.0925	$ 0.0925
Ordinary shares, shares authorized	150,000,000	150,000,000
Ordinary shares, shares issued	29,700,718	29,700,718
Ordinary shares, shares outstanding	29,700,718	29,700,718
Class B ordinary shares [Member]
Parent company balance sheets
Ordinary shares, par value (in dollars per share) | (per share)	$ 0.0925	$ 0.0925		$ 0.0925	¥ 0.62
Ordinary shares, shares authorized	20,000,000	20,000,000		20,000,000	20,000,000
Ordinary shares, shares issued	4,100,000	4,100,000
Ordinary shares, shares outstanding	4,100,000	4,100,000
Class B ordinary shares [Member] | RECON TECHNOLOGY LTD
Parent company balance sheets
Ordinary shares, par value (in dollars per share) | $ / shares	$ 0.0925	$ 0.0925
Ordinary shares, shares authorized	20,000,000	20,000,000
Ordinary shares, shares issued	4,100,000	4,100,000
Ordinary shares, shares outstanding	4,100,000	4,100,000

CONDENSED FINANCIAL INFORMATI_6

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Parent company statements of operations and comprehensive income loss (Details)	1 Months Ended	6 Months Ended
	Jun. 30, 2021 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Parent Company Statements Of Operations And Comprehensive Loss
Revenues		¥ 45,559,591	$ 6,604,466	¥ 54,411,724
Cost of revenues		32,427,772	4,700,835	39,904,645
Gross profit		13,131,819	1,903,631	14,507,079
General and administrative expenses		26,212,540	3,799,855	47,314,621
Net recovery of credit losses		(7,141,708)	(1,035,285)	(5,671,285)
Loss from operations		15,070,214	2,184,628	37,340,966
Fair value changes of warrants liability	$ (5,340,000)	(20,097,665)	(2,913,423)	147,168,952
Other income (loss)		157,753	22,868	(13,630)
Net income (loss)		(29,872,691)	(4,330,445)	111,379,427
FOREIGN CURRENCY TRANSLATION ADJUSTMENTS
Foreign currency translation adjustment		9,663,701	1,400,882	(4,636,991)
Comprehensive income (loss) attributable to Recon Technology, Ltd		(20,212,717)	(2,930,103)	106,720,519
RECON TECHNOLOGY LTD
Parent Company Statements Of Operations And Comprehensive Loss
General and administrative expenses		16,054,522	2,327,319	36,567,864
Net recovery of credit losses				1,916,515
Loss from operations		16,054,522	2,327,319	38,484,379
Fair value changes of warrants liability		(20,097,665)	(2,913,423)	147,168,952
Other income (loss)		3,716,168	538,708	2,584,170
Equity in loss of subsidiaries, VIEs and VIEs' subsidiaries		2,559,601	371,048	88,767
Net income (loss)		(29,876,418)	(4,330,985)	111,357,510
FOREIGN CURRENCY TRANSLATION ADJUSTMENTS
Foreign currency translation adjustments related to investments in subsidiaries, VIEs and VIEs' subsidiaries		9,663,701	1,400,882	(4,636,991)
Comprehensive income (loss) attributable to Recon Technology, Ltd		¥ (20,212,717)	$ (2,930,103)	¥ 106,720,519

CONDENSED FINANCIAL INFORMATI_7

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Parent company statements (Details)	1 Months Ended	6 Months Ended
	Jun. 30, 2021 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		¥ (29,872,691)	$ (4,330,445)	¥ 111,379,427
Adjustments to reconcile net cash flows from operating activities:
Loss (gain) in fair value changes of warrants liability	$ 5,340,000	20,097,665	2,913,423	(147,168,952)
Provision for doubtful accounts		(7,141,708)	(1,035,285)	(5,671,285)
Restricted shares issued for management and employees		1,796,417	260,414	27,375,871
Income from investment in unconsolidated entity		0	0	(15,411)
Restricted shares issued for services		4,304,857	624,046	4,631,063
Net cash used in operating activities		(25,900,000)	(3,800,000)	(23,040,333)
Cash flows from investing activities:
Repayments from loans to third parties		25,194,900	3,652,335	113,146,100
Payments made for loans to third parties		(58,488,100)	(8,478,625)	(86,031,987)
Net cash provided by (used in) investing activities		(34,082,522)	(4,940,712)	26,776,942
Cash flows from financing activities:
Net cash provided by (used in) financing activities		1,523,073	220,790	(9,228,957)
Effect of exchange rate fluctuation on cash		10,633,748	1,541,503	(5,642,145)
Net increase (decrease) in cash		(47,856,937)	(6,937,497)	(11,134,493)
Cash at beginning of period		316,974,857
Cash at end of period		269,100,000	39,011,267
RECON TECHNOLOGY LTD
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		(29,876,418)	(4,330,985)	111,357,510
Adjustments to reconcile net cash flows from operating activities:
Loss (gain) in fair value changes of warrants liability		20,097,665	2,913,423	(147,168,952)
Provision for doubtful accounts				1,916,515
Restricted shares issued for management and employees		1,796,417	260,414	27,375,871
Income from investment in unconsolidated entity				(15,411)
Restricted shares issued for services		4,304,857	624,046	4,631,063
Equity in earnings of subsidiaries and VIEs		(2,559,601)	(371,048)	(88,767)
Other current assets		(14,166,457)	(2,053,616)	(2,448,550)
Other current liabilities		(1,080,736)	(156,667)	(7,226,571)
Net cash used in operating activities		(21,484,273)	(3,114,433)	(11,667,292)
Cash flows from investing activities:
Repayments from loans to third parties		20,694,900	3,000,000	111,796,100
Payments made for loans to third parties		(48,288,100)	(7,000,000)	(85,851,987)
Due from intercompany, VIEs and VIEs' subsidiaries		80,522,546	11,672,810	45,913,426
Net cash provided by (used in) investing activities		(108,115,746)	(15,672,810)	(19,969,313)
Cash flows from financing activities:
Effect of exchange rate fluctuation on cash		16,278,998	2,359,859	(5,586,473)
Net increase (decrease) in cash		(113,321,021)	(16,427,384)	(37,223,078)
Cash at beginning of period		296,838,959		296,838,959
Cash at end of period	$ 43,030,741	¥ 183,517,938	$ 26,603,357	287,893,737
Non-cash investing and financing activities
Cancellation of ordinary shares issued to Starry				¥ (27,675,450)

SUBSEQUENT EVENTS (Details)_2

SUBSEQUENT EVENTS (Details) - shares	Mar. 15, 2023	Jun. 14, 2021	Jun. 30, 2020	May 26, 2020
Subsequent Event [Line Items]
Number of warrants to purchase ordinary shares			1,680,000	911,112
Subsequent event [Member]
Subsequent Event [Line Items]
Number of warrants to purchase ordinary shares	8,814,102
Pre-funded warrants [Member]
Subsequent Event [Line Items]
Number of warrants to purchase ordinary shares		8,814,102
Class A ordinary shares [Member] | Subsequent event [Member]
Subsequent Event [Line Items]
Number of warrants to purchase ordinary shares	10,002,500

SUBSEQUENT EVENTS - Plan to the

SUBSEQUENT EVENTS - Plan to the employees (Details) - shares		6 Months Ended	12 Months Ended
	Mar. 09, 2023	Dec. 31, 2022	Jun. 30, 2022
Subsequent Event [Line Items]
Stock Options, Shares, Granted		0	0
Subsequent event [Member] | Class A ordinary shares [Member]
Subsequent Event [Line Items]
Stock Options, Shares, Granted	2,000,000