| As of December 31, | ||||||||||||
| Selected Consolidated Balance Sheet Data: | 2022 | 2023 | 2023 | |||||||||
| RMB | RMB | USD | ||||||||||
| ASSETS | ||||||||||||
| CURRENT ASSETS | ||||||||||||
| Cash and cash equivalents | 151,119,985 | 126,037,538 | 17,795,126 | |||||||||
| Accounts receivable, net | 80,352,463 | 9,842,827 | 1,389,700 | |||||||||
| Prepayments and other current assets | 6,169,398 | 14,876,106 | 2,100,344 | |||||||||
| Due from related parties | 60,280 | - | - | |||||||||
| Inventories, net | 1,757,949 | 1,373,911 | 193,981 | |||||||||
| Total current assets | 239,460,075 | 152,130,382 | 21,479,151 | |||||||||
| NON-CURRENT ASSETS | ||||||||||||
| Prepayment and deposits, net | 417,004 | 310,468 | 43,835 | |||||||||
| Property and equipment, net | 1,647,876 | 1,598,134 | 225,639 | |||||||||
| Intangible assets, net | 15,376,524 | - | - | |||||||||
| Investments in unconsolidated entities | - | 600,000 | 84,713 | |||||||||
| Right-of-use assets, net | 4,064,525 | 2,988,691 | 421,971 | |||||||||
| Goodwill | 21,155,897 | - | - | |||||||||
| Deferred tax assets | - | 2,931,528 | 413,900 | |||||||||
| Total non-current assets | 42,661,826 | 8,428,821 | 1,190,058 | |||||||||
| Total assets | 282,121,901 | 160,559,203 | 22,669,209 | |||||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||
| CURRENT LIABILITIES | ||||||||||||
| Accounts payable | 61,208,297 | 1,314,370 | 185,575 | |||||||||
| Advance from customers | 3,404,038 | 2,230,852 | 314,972 | |||||||||
| Other payables and accrued liabilities | 13,549,553 | 9,097,870 | 1,284,520 | |||||||||
| Due to related parties | 350,000 | - | - | |||||||||
| Operating lease liabilities - current | 1,596,584 | 1,063,396 | 150,140 | |||||||||
| Loan payable | 410,000 | 2,903,896 | 409,998 | |||||||||
| Taxes payable | 602,254 | 625,608 | 88,329 | |||||||||
| Total current liabilities | 81,120,726 | 17,235,992 | 2,433,534 | |||||||||
| NON-CURRENT LIABILITIES | ||||||||||||
| Operating lease liabilities - non-current | 2,574,711 | 2,058,068 | 290,577 | |||||||||
| Deferred tax liabilities | 1,106,519 | - | - | |||||||||
| Warrant liabilities | 425,619 | 62,200 | 8,782 | |||||||||
| Total non-current liabilities | 4,106,849 | 2,120,268 | 299,359 | |||||||||
| Total liabilities | 85,227,575 | 19,356,260 | 2,732,893 | |||||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||||||
| SHAREHOLDERS’ EQUITY | ||||||||||||
| Ordinary shares1 ($0.001 par value; 5,941,204 shares authorized; 5,081,204 and 5,941,204 shares issued and outstanding as of December 31, 2022 and December 31, 2023, respectively.) | 36,144 | 42,318 | 5,941 | |||||||||
| Additional paid-in capital | 254,138,709 | 286,296,970 | 41,180,750 | |||||||||
| Accumulated deficit | (65,500,622) | (146,909,851) | (20,668,617) | |||||||||
| Statutory reserves | 11,110,699 | 3,052,776 | 431,019 | |||||||||
| Accumulated other comprehensive loss | (3,182,525) | (1,365,466) | (1,026,964) | |||||||||
| Total MICROCLOUD HOLOGRAM INC. shareholders’ equity | 196,602,405 | 141,116,747 | 19,922,129 | |||||||||
| NON-CONTROLLING INTERESTS | 291,921 | 86,196 | 14,187 | |||||||||
| Total equity | 196,894,326 | 141,202,943 | 19,936,316 | |||||||||
| Total liabilities and shareholders’ equity | 282,121,901 | 160,559,203 | 22,669,209 | |||||||||
| Schedule of deferred tax assets and liabilities | ||||||||||||
| December 31, 2022 | December 31, 2023 | December 31, 2023 | ||||||||||
| RMB | RMB | USD | ||||||||||
| Deferred tax assets: | ||||||||||||
| Allowance for doubtful accounts | 256,868 | 258,718 | 36,528 | |||||||||
| Impairment loss for investment | 240,000 | 240,000 | 33,885 | |||||||||
| Net operating loss carry forward | 3,409,722 | 18,180,820 | 2,566,934 | |||||||||
| Inventory reserve | 26,469 | 26,469 | 3,737 | |||||||||
| Right of use | 14,110 | 152,685 | 21,558 | |||||||||
| Less: valuation allowance | (3,054,301) | (15,927,164) | (2,248,742) | |||||||||
| Deferred tax assets, net | 892,868 | 2,931,528 | 413,900 | |||||||||
| Deferred tax liabilities: | ||||||||||||
| Recognition of intangible assets arising from business combinations | (1,999,387) | - | - | |||||||||
| Deferred tax liabilities, net | (1,999,387) | - | - | |||||||||
| Total deferred tax liabilities, net | (1,106,519) | 2,931,528 | 413,900 | |||||||||
| For the Year Ended December 31, | ||||||||||||||||
| Selected Consolidated Statements of Operations Data | 2021 | 2022 | 2023 | |||||||||||||
| RMB | RMB | RMB | US$ | |||||||||||||
| Revenues | 358,649,298 | 487,938,864 | 203,548,005 | 28,885,579 | ||||||||||||
| Cost of Revenues | (108,623,048) | (264,679,547) | (129,296,306) | (18,348,491) | ||||||||||||
| GROSS PROFIT | 250,026,250 | 223,259,317 | 74,251,699 | 10,537,088 | ||||||||||||
| Selling expenses | (5,257,331) | (8,824,405) | (6,692,316) | (949,709) | ||||||||||||
| General and administrative expenses | (20,058,463) | (22,936,520) | (65,354,201) | (9,274,441) | ||||||||||||
| Research and development expenses | (145,346,168) | (331,274,831) | (78,655,572) | (11,162,043) | ||||||||||||
| Provision for doubtful accounts | (515,345) | (2,976,474) | (857,713) | (121,718) | ||||||||||||
| Change in fair value of warrant liabilities | - | 4,415,328 | 372,961 | 52,927 | ||||||||||||
| Total operating expenses | (171,177,307) | (361,596,902) | (151,186,841) | (21,454,984) | ||||||||||||
| INCOME (LOSS) FROM OPERATIONS | 78,848,943 | (138,337,585) | (76,935,142) | (10,917,896) | ||||||||||||
| OTHER INCOME (EXPENSE) | ||||||||||||||||
| Finance income, net | 626,796 | 1,669,078 | 3,363,084 | 477,257 | ||||||||||||
| Impairment loss for unconsolidated entities | - | (1,600,000) | - | - | ||||||||||||
| Profit or loss on disposal of subsidiaries | - | - | (15,278,949) | (2,168,242) | ||||||||||||
| Other income, net | 973,932 | 983,466 | 3,124,103 | 443,343 | ||||||||||||
| Total other income (expenses), net | 1,600,728 | 1,052,544 | (8,791,762) | (1,247,642) | ||||||||||||
| INCOME (LOSS) BEFORE INCOME TAXES | 80,449,671 | (137,285,041) | (85,726,904) | (12,165,538) | ||||||||||||
| Income tax credit | 794,803 | 826,140 | 4,138,906 | 587,354 | ||||||||||||
| NET INCOME (LOSS) | 81,244,474 | (136,458,901) | (81,587,998) | (11,578,184) | ||||||||||||
| Less: Net income (loss) attributable to non-controlling interests | (66) | 291,987 | (205,725) | (29,195) | ||||||||||||
| NET INCOME (LOSS) ATTRIBUTABLE TO MICROCLOUD HOLOGRAM INC. ORDINARY SHAREHOLDERS | 81,244,540 | (136,750,888) | (81,382,273) | (11,548,989) | ||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||
| Foreign currency translation adjustment | (32,022) | 995,415 | 1,817,059 | 257,860 | ||||||||||||
| COMPREHENSIVE INCOME (LOSS) | 81,212,452 | (135,463,486) | (79,770,939) | (11,320,324) | ||||||||||||
| Less: Comprehensive income (loss) attributable to non-controlling interests | (66) | 291,987 | (205,725) | (29,195) | ||||||||||||
| COMPREHENSIVE INCOME ATTRIBUTABLE TO MICROCLOUD HOLOGRAM INC. ORDINARY SHAREHOLDERS | 81,212,518 | (135,755,473) | (79,565,214) | (11,291,129) | ||||||||||||
| WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES | ||||||||||||||||
| Basic and diluted | 13,200,000 | 2,007,160 | 2,167,379 | 2,167,379 | ||||||||||||
| EARNINGS (LOSS) PER SHARE1 | ||||||||||||||||
| Basic and diluted | 6.15 | (68.13) | (37.55) | (5.33) | ||||||||||||
| For the Year Ended December 31, | ||||||||||||||||
| 2021 | 2022 | 2023 | 2023 | |||||||||||||
| RMB | RMB | RMB | USD | |||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||
| Net income (loss) | 81,244,474 | (136,458,901) | (81,587,998) | (11,578,184) | ||||||||||||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||||||||||
| Depreciation and amortization | 6,674,311 | 6,844,237 | 6,161,834 | 874,428 | ||||||||||||
| Amortization of operating lease right-of-use assets | - | 1,589,078 | 1,075,834 | 152,672 | ||||||||||||
| Provision for doubtful accounts | 515,345 | 2,976,474 | (274,155) | (38,906) | ||||||||||||
| Deferred tax expense (benefits) | (841,948) | (880,475) | (4,038,047) | (573,041) | ||||||||||||
| Provision for inventory reserve | 88,047 | - | - | - | ||||||||||||
| Interest income | (626,054) | - | - | - | ||||||||||||
| Impairment loss for unconsolidated entities | - | 1,600,000 | - | - | ||||||||||||
| Loss on disposal fixed assets | 365,636 | 3,285 | - | - | ||||||||||||
| Change in fair value of warrant liabilities | - | (4,415,328) | (372,961) | (52,927) | ||||||||||||
| Stock compensation expense | - | - | 32,164,435 | 4,564,468 | ||||||||||||
| Impairment loss for intangible assets | - | - | 3,854,547 | 547,000 | ||||||||||||
| Impairment loss for goodwill | - | - | 21,155,897 | 3,002,242 | ||||||||||||
| Loss on disposal of subsidiaries | - | - | (1,900,379) | (269,684) | ||||||||||||
| Change in operating assets and liabilities: | ||||||||||||||||
| Accounts receivable | 11,479,621 | (15,072,501) | 70,783,791 | 10,044,956 | ||||||||||||
| Prepayment and other current assets | 4,324,504 | (5,544,532) | (8,706,708) | (1,235,572) | ||||||||||||
| Inventories | 2,855,093 | 167,562 | 384,038 | 54,499 | ||||||||||||
| Prepayments and deposits | 177,350 | 32,688 | 106,536 | 15,119 | ||||||||||||
| Accounts payable | (6,012,590) | 14,191,808 | (59,893,927) | (8,499,571) | ||||||||||||
| Operating lease liabilities | - | (1,482,308) | (1,049,831) | (148,982) | ||||||||||||
| Advance from customers | (698,465) | 2,545,326 | (1,173,186) | (166,487) | ||||||||||||
| Other payables and accrued liabilities | 2,066,507 | 1,891,849 | (4,451,683) | (631,740) | ||||||||||||
| Taxes payable | 1,382,989 | (2,647,030) | 23,354 | 3,314 | ||||||||||||
| Net cash provided by (used in) operating activities | 102,994,820 | (134,658,768) | (27,738,609) | (3,936,396) | ||||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||
| Payments for business acquisition payable - related parties | (50,000,000) | - | - | - | ||||||||||||
| Loan proceeds to third parties | (90,268,908) | (10,339,518) | - | - | ||||||||||||
| Loan repayment from third parties | 57,906,587 | 23,668,959 | - | - | ||||||||||||
| Purchases of property and equipment | (135,676) | (1,821,918) | (774,615) | (109,926) | ||||||||||||
| Cash received on fixed assets disposal | 600 | - | - | - | ||||||||||||
| Investments in unconsolidated entities | (1,600,000) | - | (600,000) | (85,146) | ||||||||||||
| Net cash provided by (used in) investing activities | (84,097,397) | 11,507,523 | (1,374,615) | (195,072) | ||||||||||||
| Schedule of effective income tax rate reconciliation | ||||||||||||
| For the year ended December 31, 2021 | For the year ended December 31, 2022 | For the year ended December 31, 2023 | ||||||||||
| China statutory income tax rate | 25.00 | % | 25.00 | % | 25.00 | % | ||||||
| Preferential tax rate reduction | (24.76 | )% | (24.51 | )% | (37.28 | )% | ||||||
| Change in valuation allowance | 0.44 | % | (2.01 | )% | (15.37 | )% | ||||||
| Additional R&D deduction in China | (1.24 | )% | 0.83 | % | 1.38 | % | ||||||
| Permanent difference | (0.37 | )% | (0.06 | )% | (0.20 | )% | ||||||
| Tax rate difference outside China(1) | (0.04 | )% | 0.04 | % | (0.05 | )% | ||||||
| Effective tax rate | (0.97 | )% | (0.71 | )% | (26.52 | )% | ||||||
