Prepaid Land Lease and Other Lease, Net

6 Months Ended

Dec. 31, 2019

Prepaid Land Lease, Net [Abstract]

PREPAID LAND LEASE AND OTHER LEASE, NET

5. PREPAID LAND LEASE AND OTHER LEASE, NET

Prepaid land lease and other lease, net, consists of the following:

	December 31, 2019						June 30, 2019
	RMB			US$			RMB			US$
Prepaid land lease and other lease		11,134,369			1,599,352			5,412,120			788,364
Less: accumulated amortization		(1,003,707	)		(144,174	)		(502,700	)		(73,227	)
Add: other lease asset-ROU – note 17		-			-			5,000,000			728,333
Prepaid land lease and other lease, net		10,130,662			1,455,179			9,909,420			1,443,470

The carrying amounts of the prepaid land lease and other lease are analysed as:

	December 31, 2019				June 30, 2019
	RMB		US$		RMB		US$
Current assets		1,094,095		157,157		547,180		79,706
Non-current assets		9,036,567		1,298,023		9,362,240		1,363,764
		10,130,662		1,479,495		9,909,420		1,443,470

Prepaid land lease represents the costs of the land use rights in respect of leasehold land in the People's Republic of China, on which the Group's buildings are situated. Prepaid other lease represents the lease of the Company's warehouse in the PRC.

The prepaid land lease' terms are 70 years, ending in 2082 and other leases terms are 10 years, ending in 2029.