DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Income Statement

Results of the discontinued operations

	January 1 – October 31 2016
	RMB
Revenues		952,968,658
Cost of revenues		(407,369,723	)
Gross Profit		545,598,935
Operating expenses
Selling and marketing		-
General and administrative		(276,685,730	)
Total operating expenses		(276,685,730	)
Income from operations		268,913,205
Interest expenses, net		(215,226,564	)
Exchange loss		(25,441,221	)
Change in fair value of foreign exchange forward contracts		4,455,731
Other income/(expenses), net		37,675
Subsidy income		141,496
Equity income in affiliated companies		15,265,937
Gain on disposal of discontinued operations		1,007,884,060
Income from discontinued operations before income taxes		1,056,030,319
Income tax expense, net		(54,466,059	)
Income from discontinued operations, net of tax		1,001,564,260

Disposal Groups, Including Discontinued Operations, Balance Sheet

	2016
Cash flows generated from/(used in ) discontinued operations
Net cash used in operating activities		(2,017,319,542	)
Net cash used in investing activities		(2,048,843,302	)
Net cash provided by financing activities		5,074,465,592
Net increase in cash and cash equivalent		1,008,302,748