LONG-TERM PAYABLES (Tables)

6 Months Ended

Jun. 30, 2017

Leases [Abstract]

Schedule of Capital Leased Assets

As of December 31, 2016 and June 30, 2017, the net value of the leased assets are:

	2016		2017
	December 31		June 30
	RMB		RMB
Equipment		159,980,000		279,980,000
Less: accumulated depreciation		(11,440,625)		(18,831,268)
Net Value		148,539,375		261,148,732

Schedule of Future Minimum Lease Payments for Capital Leases

As of June 30, 2017, future minimum payments required under non-cancellable capital and financing lease are:

Twelve months ended June 30,	RMB
2018		105,638,784
2019		77,196,187
2020		52,846,761
Total minimum lease payments		235,681,732
Less: Amount representing interest		(8,545,222)
Present value of net minimum lease payments		227,136,510
Current portion		101,443,202
Non-current portion		125,693,308