Document And Entity Information
Document And Entity Information | 6 Months Ended |
Dec. 31, 2023 | |
Document Information Line Items | |
Entity Registrant Name | Zhibao Technology Inc. |
Document Type | 6-K |
Current Fiscal Year End Date | --12-31 |
Amendment Flag | false |
Entity Central Index Key | 0001966750 |
Document Period End Date | Dec. 31, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Entity File Number | 001-42000 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Jun. 30, 2023 CNY (¥) | |
Current Assets | ||||
Cash and cash equivalents | ¥ 5,536,235 | $ 779,762 | ¥ 9,873,678 | |
Restricted cash | 103,954,158 | 14,641,637 | 4,999,974 | |
Accounts receivable, net | 83,367,397 | 11,742,052 | 77,750,249 | |
Deferred offering cost | 6,009,101 | 846,364 | 4,223,769 | |
Prepaid expenses and other current assets, net | 11,549,777 | 1,626,752 | 8,332,330 | |
Total Current Assets | 219,775,639 | 30,954,750 | 113,706,012 | |
Property and equipment, net | 2,516 | 354 | 2,516 | |
Intangible assets, net | 1,596,592 | 224,875 | 2,183,677 | |
Operating lease right of use assets | 3,340,565 | 470,509 | 4,327,705 | |
Restricted cash, noncurrent | 5,000,000 | 704,235 | 5,000,000 | |
Deferred tax assets | 3,007,328 | 423,573 | 1,604,757 | |
Other non-current assets | 1,461,106 | 205,792 | 1,211,500 | |
Total Non-Current Assets | 14,408,107 | 2,029,338 | 14,330,155 | |
Total Assets | 234,183,746 | 32,984,088 | 128,036,167 | |
Current Liabilities | ||||
Short-term borrowings | 26,814,237 | 3,776,706 | 27,267,797 | |
Accounts payable | 44,671,491 | 6,291,848 | 31,436,527 | |
Insurance premium payable | 107,381,104 | 15,124,312 | 3,553,377 | |
Income tax payable | 28,146 | 3,964 | 28,343 | |
Operating lease liabilities, current | 1,985,778 | 279,691 | 2,009,034 | |
Accrued expenses and other liabilities | 9,819,860 | 1,383,097 | 14,714,898 | |
Subscription fees advanced from shareholders | 15,000,000 | 2,112,706 | 15,000,000 | |
Total Current Liabilities | 217,490,816 | 30,632,939 | 94,300,176 | |
Operating lease liabilities, noncurrent | 1,333,518 | 187,822 | 2,273,154 | |
Deferred tax liabilities | 7,698 | |||
Total Liabilities | 218,824,334 | 30,820,761 | 96,581,028 | |
Commitments and contingencies | ||||
Shareholders’ Equity | ||||
Additional paid-in capital | 168,973,780 | 23,799,418 | 168,973,780 | |
Accumulated deficit | (153,638,997) | (21,639,599) | (137,544,783) | |
Accumulated other comprehensive income | 3,605 | 508 | 5,118 | |
Total Shareholders’ Equity | 15,359,412 | 2,163,327 | 31,455,139 | |
Total Liabilities and Shareholders’ Equity | 234,183,746 | 32,984,088 | 128,036,167 | |
Class A ordinary shares | ||||
Shareholders’ Equity | ||||
Ordinary Shares | [1] | 8,820 | 1,318 | 8,820 |
Class B ordinary shares | ||||
Shareholders’ Equity | ||||
Ordinary Shares | [1] | 12,204 | 1,682 | 12,204 |
Related Party | ||||
Current Assets | ||||
Due from related parties | 9,358,971 | 1,318,183 | 8,526,012 | |
Current Liabilities | ||||
Due to related parties | ¥ 11,790,200 | $ 1,660,615 | ¥ 290,200 | |
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares. |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - ¥ / shares | Dec. 31, 2023 | Jun. 30, 2023 | |
Class A ordinary shares | |||
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share) | [1] | ¥ 0.0001 | ¥ 0.0001 |
Ordinary shares, authorized | [1] | 450,000,000 | 450,000,000 |
Ordinary shares, issued | [1] | 13,183,308 | 13,183,308 |
Ordinary shares, outstanding | [1] | 13,183,308 | 13,183,308 |
Class B ordinary shares | |||
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share) | [1] | ¥ 0.0001 | ¥ 0.0001 |
Ordinary shares, authorized | [1] | 50,000,000 | 50,000,000 |
Ordinary shares, issued | [1] | 16,816,692 | 16,816,692 |
Ordinary shares, outstanding | [1] | 16,816,692 | 16,816,692 |
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares. |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | 6 Months Ended | |||
Dec. 31, 2023 CNY (¥) ¥ / shares shares | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 CNY (¥) ¥ / shares shares | ||
Income Statement [Abstract] | ||||
Revenues | ¥ 84,254,221 | $ 11,866,959 | ¥ 91,799,665 | |
Cost of revenues | (54,192,050) | (7,632,791) | (58,724,886) | |
Gross profit | 30,062,171 | 4,234,168 | 33,074,779 | |
Operating expenses | ||||
Selling and marketing expenses | (20,993,374) | (2,956,855) | (12,672,484) | |
General and administrative expenses | (10,153,441) | (1,430,082) | (9,907,082) | |
Research and development expenses | (7,294,313) | (1,027,382) | (4,001,576) | |
Total operating expenses | (38,441,128) | (5,414,319) | (26,581,142) | |
Income (loss) from operations | (8,378,957) | (1,180,151) | 6,493,637 | |
Interest expense, net | (431,796) | (60,817) | (549,856) | |
Other income, net | 127,399 | 17,944 | 295,648 | |
Income (Loss) Before Income Taxes | (8,683,354) | (1,223,024) | 6,239,429 | |
Income tax benefits | 137,354 | 19,346 | 2,672,359 | |
Net Income (Loss) | (8,546,000) | (1,203,678) | 8,911,788 | |
Other comprehensive loss | ||||
Foreign currency translation adjustments | (1,513) | (213) | ||
Comprehensive income (loss) | ¥ (8,547,513) | $ (1,203,891) | ¥ 8,911,788 | |
Weighted average number of ordinary share outstanding | ||||
Basic* (in Shares) | [1] | 30,000,000 | 30,000,000 | 26,388,878 |
Diluted* (in Shares) | [1] | 30,000,000 | 30,000,000 | 26,388,878 |
Earnings (loss) per share | ||||
Basic* (in Dollars per share and Yuan Renminbi per share) | (per share) | [1] | ¥ (0.28) | $ (0.04) | ¥ 0.34 |
Diluted* (in Dollars per share and Yuan Renminbi per share) | (per share) | [1] | ¥ (0.28) | $ (0.04) | ¥ 0.34 |
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares. |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Changes in Shareholders’ (Deficits) Equity | Class A Ordinary Shares CNY (¥) shares | Class B Ordinary Shares CNY (¥) shares | Additional Paid-in Capital CNY (¥) | Retained earnings (Accumulated Deficits) CNY (¥) | Accumulated Other Comprehensive Income CNY (¥) | CNY (¥) | USD ($) | |||
Balance at Jun. 30, 2022 | ¥ 8,820 | [1] | ¥ 8,817 | [1] | ¥ 113,111,157 | ¥ (94,446,003) | ¥ 18,682,791 | |||
Balance (in Shares) at Jun. 30, 2022 | shares | [1] | 13,183,308 | 13,155,570 | |||||||
Contribution from shareholders | [1] | [1] | 600,000 | 600,000 | ||||||
Share based compensation | [1] | [1] | 531,100 | 531,100 | ||||||
Net income (loss) | [1] | [1] | 8,911,788 | 8,911,788 | ||||||
Foreign exchange adjustments | ||||||||||
Balance at Dec. 31, 2022 | ¥ 8,820 | [1] | ¥ 8,817 | [1] | 114,242,257 | (85,534,215) | 28,725,679 | |||
Balance (in Shares) at Dec. 31, 2022 | shares | [1] | 13,183,308 | 13,155,570 | |||||||
Balance at Jun. 30, 2023 | ¥ 8,820 | [1] | ¥ 12,204 | [1] | 168,973,780 | (137,544,783) | 5,118 | 31,455,139 | ||
Balance (in Shares) at Jun. 30, 2023 | shares | [1] | 13,183,308 | 16,816,692 | |||||||
Adjustments due to the adoption of ASC 326 | [1] | [1] | (7,548,214) | (7,548,214) | ||||||
Net income (loss) | [1] | [1] | (8,546,000) | (8,546,000) | $ (1,203,678) | |||||
Foreign exchange adjustments | [1] | [1] | (1,513) | (1,513) | (213) | |||||
Balance at Dec. 31, 2023 | ¥ 8,820 | [1] | ¥ 12,204 | [1] | ¥ 168,973,780 | ¥ (153,638,997) | ¥ 3,605 | ¥ 15,359,412 | $ 2,163,327 | |
Balance (in Shares) at Dec. 31, 2023 | shares | [1] | 13,183,308 | 16,816,692 | |||||||
[1]The shares and per share information are presented on a retroactive basis to reflect the reorganization and reclassification of Class A and Class B ordinary shares. |
Unaudited Condensed Consolida_5
Unaudited Condensed Consolidated Statements of Cash Flows | 6 Months Ended | ||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2023 USD ($) | Jun. 30, 2023 CNY (¥) | |
Cash Flows From Operating Activities: | |||||
Net cash provided by operating activities | ¥ 85,607,856 | $ 12,057,615 | ¥ 205,695,961 | ||
Cash Flows From Investing Activities | |||||
Loans made to related parties | (15,500) | ||||
Repayment of loans from related parties | 15,983,000 | ||||
Purchase of intangible assets | (264,606) | (37,269) | (1,238,938) | ||
Proceeds from disposal of property and equipment | 10,520 | ||||
Net cash provided by (used in) investing activities | (264,606) | (37,269) | 14,739,082 | ||
Cash Flows From Financing Activities | |||||
Capital contribution from shareholders | 600,000 | ||||
Proceeds from short-term bank borrowings | 25,000,000 | 3,521,176 | 12,100,000 | ||
Repayment of short-term bank borrowings | (25,453,560) | (3,585,059) | (12,432,203) | ||
Borrowings from related parties | 26,500,000 | 3,732,447 | |||
Repayment of borrowings to related parties | (15,000,000) | (2,112,706) | (200,000) | ||
Payment of offering cost | (1,771,436) | (249,502) | (2,433,566) | ||
Net cash (used in) provided by financing activities | 9,275,004 | 1,306,356 | (2,365,769) | ||
Effect of exchange rate changes on cash and cash equivalents | (1,513) | (213) | |||
Net increase in cash, cash equivalents and restricted cash | 94,616,741 | 13,326,489 | 218,069,274 | ||
Cash, cash equivalents and restricted cash at beginning of the period | 19,873,652 | 2,799,145 | 11,574,189 | ||
Cash, cash equivalents and restricted cash at end of the period | 114,490,393 | 16,125,634 | 229,643,463 | ||
Supplemental Cash Flow Information | |||||
Cash paid for interest expense | 507,297 | 71,451 | 668,772 | ||
Cash paid for income tax | |||||
Non-cash Investing and Financing activities | |||||
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | 81,674 | 11,504 | 4,181,768 | ||
Settlement of due from related parties with due to related parties | 459,800 | ||||
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets | |||||
Cash and cash equivalents | 5,536,235 | $ 779,762 | ¥ 9,873,678 | ||
Restricted cash | 103,954,158 | 14,641,637 | 4,999,974 | ||
Restricted cash, noncurrent | 5,000,000 | 704,235 | 5,000,000 | ||
Total cash and cash equivalents and restricted cash | ¥ 114,490,393 | ¥ 229,643,463 | $ 16,125,634 | ¥ 19,873,652 |