Land Use Rights, Net (Land use rights)

12 Months Ended

Dec. 31, 2014

Land use rights

10.Land Use Rights, Net

Land use rights consisted of the following:

	As of December 31,
	2013		2014		2014
	(RMB)		(RMB)		($)
Land use rights at cost	144,713,200		144,726,756		23,652,027
Accumulated amortization	(5,768,949	)	(8,601,396	)	(1,405,686	)
Total land use rights, net	138,944,251		136,125,360		22,246,341

As of December 31, 2013 and 2014, certain land use rights with an aggregate carrying value of RMB8,294,630 and RMB 5,712,909($933,634), respectively, were pledged as collateral for borrowings from the financial institutions.

The amortization expenses for the years ended December 31, 2012, 2013 and 2014 were RMB1,150,540, RMB1,570,950 and RMB2,832,447 ($462,894), respectively.

Future amortization of land use rights is as follows:

Years Ending December 31,		(RMB) Amount
2015		2,832,573
2016		2,832,573
2017		2,832,573
2019		2,832,573
2020		2,832,573
Thereafter		121,962,495
Total		136,125,360