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CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Dec. 31, 2021
CNY (¥)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
CNY (¥)
Dec. 31, 2019
CNY (¥)
Operating activities:        
Net income ¥ 113,676,839 $ 17,838,376 ¥ 244,702,736 ¥ 437,774,169
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 98,110,657 15,395,703 65,869,971 40,366,299
Share of gains in equity method investments (382,874) (60,081) (909,364) (140,564)
Gain from disposal of a long-term investment       (1,097,790)
(Gain) Loss from disposal of a subsidiary 118,443 18,586 (1,779,000)  
Interest income (3,669,643) (575,847) (11,542,121) (35,659,822)
Bad debt expense 132,591,726 20,806,535 29,953,404 38,423,347
Losses and impairment (Gain) on equity securities held (9,137,875) (1,433,932) 44,506,823 (55,253,744)
Gain on disposal of property and equipment 604,017 94,783   860,000
Foreign exchange loss (gain) (1,310,346) (205,622) 4,723,948 (1,408,437)
Share-based compensation 2,464,763 386,775 232,558 26,490,395
Withholding tax       19,845,708
Changes in operating assets and liabilities:        
Accounts receivable (22,329,328) (3,503,959) (28,789,041) (52,263,625)
Prepaid rent (1,857,100) (291,419) 5,196,798 (14,316,252)
Inventories 1,495,974 234,751 (1,281,009) 351,518
Amounts due from related parties (3,963,547) (621,967) 10,329,181 (3,228,596)
Other current assets (60,345,480) (9,469,523) (18,807,170) 10,990,176
Other assets (49,214,290) (7,722,796) (19,680,102) (22,637,263)
Accounts payable 4,520,260 709,327 4,546,551 4,814,800
Amounts due to related parties 6,332,374 993,688 (319,778) 3,232,453
Salary and welfare payable 8,586,978 1,347,484 8,913,678 (2,047,293)
Deferred revenue (53,595,903) (8,410,367) (59,516,154) 18,973,331
Advance from customers 5,468,230 858,085 (5,800,119) 3,735,302
Accrued expenses and other current liabilities 71,545,537 11,227,056 13,169,672 27,198,083
Income tax payable (16,586,604) (2,602,800) (6,354,794) (12,476,008)
Unrecognized tax benefits 38,140,379 5,985,058 29,038,185 92,022,308
Deferred rent 40,770,544 6,397,788 6,997,755 (1,939,759)
Other long-term liabilities 14,648,804 2,298,717 (5,549,798) 21,538,701
Deferred taxes 44,292,605 6,950,476 (12,595,878) (30,207,540)
Net cash provided by operating activities 360,975,140 56,644,875 295,256,932 513,939,897
Investing activities:        
Purchases of property and equipment (341,715,516) (53,622,621) (111,929,994) (213,329,308)
Purchases of intangible assets (201,746) (31,658) (887,893) (2,240,298)
Proceeds from disposal of property and equipment     80,355 1,800,000
Payments for acquisition of minority equity (1,018,387) (159,807)    
Acquisitions, net of cash received (147,608,325) (23,162,967) (18,415,807) (325,016,059)
Advances for acquisitions (39,483,494) (6,195,822) (6,550,000) (38,869,400)
Collections of acquisition advances 12,154,500 1,907,306 36,352,700  
Advances for purchases of property and equipment (219,346,261) (34,420,215)    
Repayments from advances for purchases of property and equipment 22,400,000 3,515,049    
Purchases of short-term investments (378,189,082) (59,346,120) (206,596,401) (823,183,360)
Proceeds from short-term investments 536,383,232 84,170,234 453,434,366 1,107,076,219
Proceeds from sales of long-term time deposits 50,000,000 7,846,091    
Increase of long-term time deposits (130,000,000) (20,399,837) (30,000,000) (500,000,000)
Purchases of investments in equity securities (8,940,000) (1,402,881) (65,829,314) (328,228,962)
Proceeds from disposal of equity securities 284,004,591 44,566,518 198,976 222,015,253
Proceeds from disposal of equity method investments     6,380,000 1,671,092
Proceeds from disposal of a subsidiary 1,693,391 265,730 2,183,350  
Loans to related parties (604,618,942) (94,877,906) (528,356,500) (634,638,425)
Repayment from related parties 307,933,500 48,321,486 539,996,179 458,752,530
Loans to third parties (36,944,271) (5,797,362) (62,000,000) (10,340,000)
Repayment from third parties 55,127,367 8,650,687    
Loan to franchisees (423,399,028) (66,440,547) (218,821,974) (157,411,151)
Repayment from franchisees 133,380,285 20,930,277 99,209,300 21,985,474
Net cash used in investing activities (928,388,186) (145,684,365) (111,552,657) (1,219,956,395)
Financing activities:        
Distribution to the shareholders (Note 1) (320,253,160) (50,254,709)   (226,951,236)
Proceeds from bank loans 808,000,000 126,792,832 160,000,000  
Repayment of bank loans (250,000,000) (39,230,455) (70,000,000)  
Loan from non-controlling interest 9,689,903 1,520,557 20,585,804  
Capital contribution from noncontrolling interest holders 8,191,000 1,285,347 6,943,589 14,719,481
Payment for contingent consideration     (2,001,521)  
Net cash (used in)/ generated from financing activities 255,627,743 40,113,572 115,527,872 (212,231,755)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1,344,197) (210,933) (7,664,261) (6,917,309)
Net (decrease)/ increase in cash and cash equivalents and restricted cash (313,129,500) (49,136,851) 291,567,886 (925,165,562)
Cash and cash equivalents and restricted cash at the beginning of the year 633,728,109 99,445,769 342,160,223 1,267,325,785
Cash and cash equivalents and restricted cash at the end of the year 320,598,609 50,308,918 633,728,109 342,160,223
Supplemental disclosure of cash flow information:        
Interest paid (7,363,066) (1,155,426) (4,470,953) (2,133,568)
Income taxes paid (78,296,994) (12,286,507) (105,591,179) (120,341,664)
Supplemental disclosure of non-cash investing and financing activities:        
Dividend payable settled by loan to a related party       157,461,267
Consideration payable for acquisitions 15,342,675 $ 2,407,601   16,776,500
Current assets settled for acquisition of a subsidiary       37,255,016
Ordinary shares issued or to be issued for acquisitions       124,695,851
Contingent consideration included in other current liabilities arising from acquisition during the year       4,027,207
Returnable consideration included in other assets arising from acquisition during the year       3,333,421
Reconciliation of cash, cash and equivalents and restricted cash        
Cash and cash equivalents 298,428,709   611,358,209 319,847,701
Restricted cash, current 3,300,000      
Restricted cash, non-current 18,869,900   22,369,900 22,312,522
Total cash, cash and equivalents and restricted cash shown in the statements of cash flow ¥ 320,598,609   ¥ 633,728,109 ¥ 342,160,223