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Related Party Transactions and Balances
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions and Balances

20.   RELATED PARTY TRANSACTIONS AND BALANCES

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. The related parties that had transactions or balances with the Group in 2019, 2020 and 2021 consisted of:

Related Party

    

Nature of the party

    

Relationship with the Group

Alex S. Xu

 

Individual

 

Founder and CEO

Hui Xu

 

Individual

 

Brother of Alex S. Xu

Yan Zhang

 

Individual

 

Executive officer for catering management entities controlled by GTI

Wen Qi

 

Individual

 

Vice president, human resources and administration of the Group

GTI

 

Investment holding

 

Shareholder of the Group, controlled by Alex S. Xu

Shanghai Aotao Industrial Co., Ltd, together with its subsidiaries and VIE (“Aotao”) *

 

Catering management

 

Controlled by GTI

Getao Industrial (HK) Limited (“Getao”)

Catering management

Controlled by GTI

Shiquanmeiwei (Beijing) Catering and Management Co., Ltd.(“Shiquanmeiwei”) *

 

Catering management

 

Controlled by GTI

Da Niang Dumpling Catering Group Co., Ltd, together with its subsidiaries (“Da Niang Group”)

 

Catering management

 

Controlled by GTI

Beifu HongKong Indutrial Co,Limited (“Beifu HK”)

Catering management

Controlled by GTI

Shanghai JYHM Restaurant Management Co., Ltd. (“JYHM”)

 

Catering management

 

Controlled by GTI

Bellagio Restaurant Management Group (“Bellagio”)

Catering management

Controlled by GTI

Napa Infinity Winery (Shanghai) Inc. (“Napa”)

 

Wine distributor

 

Controlled by Hui Xu

Yibon

 

Hotel management

 

Equity investee of the Group

Shanxi Hanyuanbaili Hotel Management Co., Ltd. (“Hanyuan”) **

 

Hotel management

 

Equity investee of the Group

*

Aotao became a related party as it was acquired by a company controlled by GTI in January 2019. Shiquanmeiwei is also included in Aotao in 2019 and 2020.

**

Hanyuan was a subsidiary of the Group as in 2019 and 2020. In December 2021, the Group disposed 5% of the equity interests of Hanyuan and Hanyuan became equity investee of the Group.

20.   RELATED PARTY TRANSACTIONS AND BALANCES (CONTINUED)

(a)Related party balances

Due from related parties:

As of December 31, 

2020

2021

2021

RMB

RMB

USD

Current:

    

GTI

    

    

206,256,382

    

32,366,128

Aotao

 

122,719

 

65,206,135

 

10,232,265

Beifu HK

 

 

26,127,660

 

4,100,000

Yibon

 

9,101,161

 

8,330,198

 

1,307,190

Hanyuan

 

 

3,406,100

 

534,491

Napa

500,000

500,000

78,461

JYHM

46,991

481,227

75,515

Getao

112,158

17,600

 

9,770,871

 

310,419,860

 

48,711,650

Amounts due from GTI, Aotao and Beifu HK mainly comprised of loans maturing in one year. On May 16, 2022, GTI has entered in an agreement with GHG to settle these amounts with 100% equity interests of Da Niang Dumplings business and 83.9% equity interests of Bellagio Café business (Note 23).

Amounts due from Yibon mainly comprised of a loan repayable on demand with an interest rate of 6% per annum with pledge of one Yibon's leased-and-operated hotel.

Due to related parties:

As of December 31, 

2020

2021

2021

RMB

RMB

USD

Current:

    

  

    

  

    

  

Yibon

 

1,995,465

 

6,602,643

 

1,036,099

Napa

 

1,120,826

 

2,868,685

 

450,159

Da Niang Group

 

54,000

 

31,307

 

4,913

JYHM

 

27,962

 

27,992

 

4,392

 

3,198,253

 

9,530,627

 

1,495,563

Amount due to Yibon comprised of receipts on behalf of Yibon which were unsecured, interest free and repayable upon demand.

Amount due to Napa comprised of the payable for purchase from Napa which were unsecured, interest free, and repayable upon demand.

20.   RELATED PARTY TRANSACTIONS AND BALANCES (CONTINUED)

(b)Related party transactions

During the years ended December 31, 2019, 2020 and 2021, related party transactions consisted of the following:

Year ended December 31,

2019

2020

2021

2021

   

RMB

   

RMB

   

RMB

   

USD

Loan to Aotao

 

(167,279,750)

 

(479,356,500)

 

(186,051,400)

(29,195,524)

Repayment from Aotao

 

157,279,750

 

499,421,550

 

121,000,000

18,987,540

Advertising service from Aotao

 

 

(3,920,000)

 

(6,473,400)

 

(1,015,818)

Interest income from Aotao

 

1,316,854

 

2,316,856

 

 

Franchise management fee to Aotao

 

(24,941)

 

(41,867)

 

(49,648)

 

(7,791)

Loan to Da Niang Group

 

(274,800,000)

 

(40,000,000)

 

(39,800,000)

 

(6,245,488)

Repayment from Da Niang Group

 

274,800,000

 

40,000,000

 

39,800,000

 

6,245,488

Interest income from Da Niang Group

 

875,315

 

352,882

 

 

Service purchased from Da Niang Group

 

(339,121)

 

(724,045)

 

(221,389)

 

(34,741)

Sublease revenue from Da Niang Group

 

 

36,000

 

27,000

 

4,237

Sublease revenue from JYHM

 

385,355

 

284,179

 

261,392

 

41,018

Service purchased from JYHM

 

(18,418)

 

(40,000)

 

(667,751)

 

(104,785)

Advance from JYHM

 

312,141

 

 

 

Loan to GTI

 

(192,558,675)

 

 

(206,256,382)

 

(32,366,127)

Repayment from GTI

 

184,134,046

 

8,424,629

 

 

Interest income from GTI

 

907,880

 

 

 

Purchase from Napa

 

(3,576,659)

 

(2,059,566)

 

(2,547,178)

 

(399,708)

Revenue from Napa

 

2,358,491

 

 

 

Loan to Yibon

 

 

(9,000,000)

 

(3,000,000)

 

(470,766)

Repayment from Yibon

3,750,000

588,457

Franchised revenue from Yibon

 

681,239

 

852,287

 

1,251,888

 

196,449

Interest income from Yibon

 

 

18,667,117

 

544,352

 

85,421

Loan to Beifu HK

 

 

 

(169,511,160)

 

(26,600,000)

Repayment from Getao on behalf of Beifu HK

 

 

 

143,383,500

 

22,500,000

Loan to Hanyuan

(3,406,100)

(534,491)

Service purchased form Bellagio

 

 

 

(367,804)

 

(57,716)