XML 53 R30.htm IDEA: XBRL DOCUMENT v3.23.1
Summary of significant accounting policies (Tables)
12 Months Ended
Dec. 31, 2022
Summary of significant accounting policies  
Schedule of disaggregation of revenue by product

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loan

​

​

​

​

​

​

​

​

​

​

Loan

​

facilitation

​

​

​

​

​

​

​

​

​

​

facilitation

​

service-

​

​

​

​

​

​

​

​

​

​

service-Direct

​

Intermediary

​

Post-origination

​

Financing

​

Other

​

​

​

​

Model

​

Model

​

service

​

income

​

revenue

​

Total

2020

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

Major products

 

  

 

  

 

  

 

  

 

  

 

  

Xiaoying Credit Loan

 

1,190,088,566

 

19,755,482

 

176,229,908

 

538,869,175

 

39,537,661

 

1,964,480,792

Xiaoying Revolving Loan

 

76,444,207

 

21,571,881

 

26,000,468

 

73,991,011

 

597,911

 

198,605,478

Xiaoying Housing Loan

 

—

 

—

 

—

 

—

 

172,960

 

172,960

Internet Channel(1)

 

—

 

45,449

 

1,611,453

 

3,291

 

11

 

1,660,204

Other loans

 

—

 

—

 

—

 

—

 

226,720

 

226,720

Other service(2)

​

—

​

—

​

—

​

—

​

27,811,304

​

27,811,304

Total

 

1,266,532,773

 

41,372,812

 

203,841,829

 

612,863,477

 

68,346,567

 

2,192,957,458

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loan

​

​

​

​

​

​

​

​

​

​

Loan

​

facilitation

​

​

​

​

​

​

​

​

​

​

facilitation

​

service-

​

​

​

​

​

​

​

​

​

​

service-Direct

​

Intermediary

​

Post-origination

​

Financing

​

Other

​

​

​

​

Model

​

Model

​

service

​

income

​

revenue

​

Total

2021

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

Major products

​

  

​

  

​

  

​

  

​

  

​

  

Xiaoying Credit Loan

​

2,545,431,636

​

161,313

​

312,373,187

​

644,009,587

​

31,877,690

​

3,533,853,413

Xiaoying Revolving Loan

​

—

​

—

​

3,216,931

​

27,891,908

​

537,311

​

31,646,150

Other loans

​

—

​

—

​

—

​

—

​

130,768

​

130,768

Other service(2)

​

—

​

—

​

—

​

—

​

60,834,774

​

60,834,774

Total

​

2,545,431,636

​

161,313

​

315,590,118

​

671,901,495

​

93,380,543

​

3,626,465,105

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loan

​

​

​

​

​

​

​

​

​

​

Loan

​

facilitation

​

​

​

​

​

​

​

​

​

​

facilitation

​

service-

​

​

​

​

​

​

​

​

​

​

service-Direct

​

Intermediary

​

Post-origination

​

Financing

​

Other

​

​

​

​

Model

​

Model

​

service

​

income

​

revenue

​

Total

2022

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

    

(RMB)

Major products

​

  

​

  

​

  

​

  

​

  

​

  

Xiaoying Credit Loan

​

2,044,343,554

​

—

​

372,015,426

​

959,446,184

​

20,815,986

​

3,396,621,150

Xiaoying Revolving Loan

​

—

​

—

​

435,180

​

2,815

​

—

​

437,995

Other loans

​

—

​

—

​

—

​

6,828,467

​

207,964

​

7,036,431

Other service(2)

​

—

​

—

​

—

​

—

​

158,854,539

​

158,854,539

Total

​

2,044,343,554

​

—

​

372,450,606

​

966,277,466

​

179,878,489

​

3,562,950,115

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Loan

    

​

    

​

    

​

    

​

​

​

Loan

​

facilitation

​

​

​

​

​

​

​

​

​

​

facilitation

​

service-

​

​

​

​

​

​

​

​

​

​

service-Direct

​

Intermediary

​

Post-origination

​

Financing

​

Other

​

​

​

​

Model

​

Model

​

service

​

income

​

revenue

​

Total

2022

    

(US$)

    

(US$)

    

(US$)

    

(US$)

    

(US$)

    

(US$)

Major products

​

​

​

​

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

 

296,401,954

​

—

​

53,937,167

​

139,106,621

​

3,018,034

​

492,463,776

Xiaoying Revolving Loan

 

—

 

—

 

63,095

​

408

​

—

​

63,503

Other loans

 

—

 

—

 

—

 

990,034

 

30,152

 

1,020,186

Other services(2)

 

—

 

—

 

—

 

—

 

23,031,743

 

23,031,743

Total

 

296,401,954

​

—

​

54,000,262

​

140,097,063

​

26,079,929

​

516,579,208

(1)Represents loans facilitated to borrowers referred by other platforms. The Group ceased to facilitate loans for other platforms in 2020.
(2)Primarily consists of referral service fees for introducing borrowers to other platforms, technology service fees received for providing assistant technology development services and penalty fees for loan prepayment and late payment.
Schedule of accounts receivable and contract assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accounts

​

Accounts

​

​

​

​

​

​

​

    

receivable

​

receivable

​

​

​

​

​

​

​

​

and contract

​

and contract

​

​

​

​

​

​

​

​

assests from

​

assests from

​

Accounts

​

​

​

​

​

​

facilitation

​

post-origination

​

receivable from

​

Allowance for

​

​

As of December 31, 2021

    

services

    

services

    

financing income

    

credit losses

    

Total

​

 

RMB

 

RMB

 

RMB

​

RMB

​

RMB

Accounts receivable:

​

​

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

 

189,556,149

 

2,468,496

 

26,080,407

​

(8,092,404)

​

210,012,648

Contract assests:

​

​

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

​

529,311,240

​

25,931,783

​

—

​

(17,775,553)

​

537,467,470

Total

 

718,867,389

 

28,400,279

 

26,080,407

​

(25,867,957)

​

747,480,118

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accounts

​

Accounts

​

​

​

​

​

​

​

​

receivable

​

receivable

​

Accounts

​

​

​

​

​

​

and contract

​

and contract

​

receivable

​

​

​

​

​

​

assests from

​

assests from

​

and contract

​

​

​

​

​

​

facilitation

​

post-origination

​

assests from

​

Allowance for

​

​

As of December 31, 2022

    

services

    

services

    

financing income

​

credit losses

    

Total

​

​

RMB

​

RMB

​

RMB

​

RMB

​

RMB

Accounts receivable:

​

​

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

​

24,326,715

​

1,427,297

​

54,103,450

​

(15,353,343)

​

64,504,119

Other loans

​

—

​

—

​

824,527

​

(39,132)

​

785,395

Contract assests:

​

​

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

​

1,038,520,804

​

60,244,520

​

317,399

​

(6,480,105)

​

1,092,602,618

Other loans

​

3,887,805

​

134,389

​

—

​

(2,586)

​

4,019,608

Total

​

1,066,735,324

​

61,806,206

​

55,245,376

​

(21,875,166)

​

1,161,911,740

​

​

​

​

​

​

​

​

​

​

​

​

.

​

Accounts

​

Accounts

​

​

​

​

​

​

​

​

receivable

​

receivable

​

Accounts

​

​

​

​

​

​

and contract

​

and contract

​

receivable

​

​

​

​

​

​

assests from

​

assests from

​

and contract

​

​

​

​

​

​

facilitation

​

post-origination

​

assests from

​

Allowance for

​

​

As of December 31, 2022

    

services

    

services

    

financing income

    

credit losses

    

Total

​

​

US$

​

US$

​

US$

​

US$

​

US$

Accounts receivable:

​

​

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

​

3,527,042

​

206,939

​

7,844,263

​

(2,226,025)

​

9,352,219

Other loans

​

—

​

—

​

119,545

​

(5,674)

​

113,871

Contract assests:

​

​

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

​

150,571,362

​

8,734,634

​

46,019

​

(939,527)

​

158,412,488

Other loans

​

563,679

​

19,485

​

—

​

(375)

​

582,789

Total

​

154,662,083

​

8,961,058

​

8,009,827

​

(3,171,601)

​

168,461,367

​

Schedule of aging of past due accounts receivables

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

​

​

​

​

​

​

​

Aging

    

Not past-due

    

1 - 30 days

    

30 - 60 days

    

Total

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loan

​

205,943,964

​

6,352,735

​

5,808,353

​

218,105,052

Total

​

205,943,964

​

6,352,735

​

5,808,353

​

218,105,052

​

​

​

​

​

​

​

​

​

​

As of December 31, 2022

​

​

​

​

​

​

​

​

Aging

    

Not past-due

    

1 - 30 days

    

30 - 60 days

    

Total

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loan

​

72,674,385

​

2,932,527

​

4,250,550

​

79,857,462

Other loans

​

746,331

​

40,675

​

37,521

​

824,527

Total

​

73,420,716

​

2,973,202

​

4,288,071

​

80,681,989

​

​

​

​

​

​

​

​

​

​

As of December 31, 2022

​

​

​

​

​

​

​

​

Aging

    

Not past-due

    

1 - 30 days

    

30 - 60 days

    

Total

​

​

US$

​

US$

​

US$

​

US$

Xiaoying Credit Loan

​

10,536,796

​

425,176

​

616,272

​

11,578,244

Other loans

​

108,208

​

5,897

​

5,440

​

119,545

Total

​

10,645,004

​

431,073

​

621,712

​

11,697,789

​

Schedule of movement of provision for accounts receivable and contract assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of

​

​

​

Provision for

​

Charge-off for

​

As of

​

​

January 1,

​

Adoption of ASU

​

accounts receivable

​

accounts

​

December 31,

​

    

2020

    

2016-13

    

(net of recovery) (1)

    

receivable

    

2020

​

​

RMB

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loan

​

185,085,029

​

11,480,592

​

112,833,743

​

(271,870,171)

​

37,529,193

Xiaoying Revolving Loan

​

7,824,878

​

811,579

​

11,883,737

​

(19,367,707)

​

1,152,487

Internet Channel

​

—

​

3,232,265

​

(3,232,265)

​

—

​

—

Total

​

192,909,907

​

15,524,436

​

121,485,215

​

(291,237,878)

​

38,681,680

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Provision for

    

​

    

​

​

​

​

​

accounts receivable

​

Charge-off for

​

​

​

​

As of

​

and contract assets

​

accounts

​

As of

​

​

January 1,

​

(net of recovery)

​

receivable and

​

December 31, 

​

​

2021

​

(1)

​

contract assets

​

2021

​

​

RMB

​

RMB

​

RMB

​

RMB

Accounts receivable:

 

​

 

​

 

​

 

​

Xiaoying Credit Loan

 

37,529,193

​

46,512,298

​

(75,949,087)

​

8,092,404

Xiaoying Revolving Loan

 

1,152,487

​

1,612,419

​

(2,764,906)

​

—

Contract assests:

 

​

​

​

​

​

​

​

Xiaoying Credit Loan

 

—

​

29,123,093

​

(11,347,540)

​

17,775,553

Total

 

38,681,680

​

77,247,810

​

(90,061,533)

​

25,867,957

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Provision for

    

​

    

​

​

​

​

​

accounts receivable

​

Charge-off for

​

​

​

​

As of

​

and contract assets

​

accounts

​

As of

​

​

January 1,

​

(net of recovery)

​

receivable and

​

December 31,

​

​

2022

​

(1)

​

contract assets

​

2022

​

 

RMB

 

RMB

 

RMB

 

RMB

Accounts receivable:

 

  

 

  

 

  

 

  

Xiaoying Credit Loan

 

8,092,404

​

21,753,517

​

(14,492,578)

​

15,353,343

Other loans

​

—

​

145,931

​

(106,799)

​

39,132

Contract assests:

 

​

​

​

​

​

​

​

Xiaoying Credit Loan

 

17,775,553

​

(66,409)

​

(11,229,039)

​

6,480,105

Other loans

 

—

​

2,586

​

—

​

2,586

Total

 

25,867,957

​

21,835,625

​

(25,828,416)

​

21,875,166

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Provision for

​

​

​

​

​

​

​

​

accounts receivable

​

Charge-off for

​

​

​

​

As of

​

and contract assets

​

accounts

​

As of

​

    

January 1,

    

(net of recovery)

    

receivable and

    

December 31, 

​

​

2022

​

(1)

​

contract assets

​

2022

​

    

US$

    

US$

    

US$

    

US$

Accounts receivable:

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

​

1,173,288

​

3,153,963

​

(2,101,226)

​

2,226,025

Other loans

​

—

​

21,158

​

(15,484)

​

5,674

Contract assests:

​

​

​

​

​

​

​

​

Xiaoying Credit Loan

​

2,577,213

​

(9,628)

​

(1,628,058)

​

939,527

Other loans

​

—

​

375

​

—

​

375

Total

​

3,750,501

​

3,165,868

​

(3,744,768)

​

3,171,601

(1)The recoveries of charge-off of accounts receivables and contract assets amounted to RMB4,243,262, RMB850,597 and RMB1,738,580 (US$252,070) during the year ended December 31, 2020, 2021 and 2022, respectively.
Schedule of estimated useful lives of property and equipment

​

​

​

​

Computer and transmission equipment

    

3 years

Furniture and office equipment

​

5 years

Motor vehicles

​

4 years

Leasehold improvements

​

Over the shorter of the lease term or expected useful lives

​

Schedule of remaining contractual maturities of the group's lease liabilities at the date of transition

​

​

​

​

​

​

​

​

As of December 31, 2022

​

    

RMB

    

US$

Cash payments for operating leases

 

18,949,406

​

2,747,406

ROU assets obtained in exchange for operating lease liabilities

 

54,743,146

​

7,937,010

​

Schedule of remaining contractual maturities of the group's lease liabilities at the end of the current reporting period

Future lease payments under operating leases as of December 31, 2022 were as follows:

​

​

​

​

​

​

​

​

Operating leases

​

    

RMB

    

US$

Year ending December 31,

 

​

​

​

2023

 

16,425,020

​

2,381,404

2024

 

16,829,056

​

2,439,984

2025

​

15,561,821

​

2,256,252

2026

​

9,572,584

​

1,387,894

2027 and thereafter

​

15,896,286

​

2,304,745

Total future lease payments

​

74,284,767

​

10,770,279

Less: Imputed interest

​

11,787,025

​

1,708,958

Total lease liability balance

​

62,497,742

​

9,061,321

​

Schedule of accounts receivables due from institutional funding partner and institutional cooperators

​

​

​

​

​

​

​

​

​

​

    

Year ended

    

Year ended

    

Year ended

 

​

​

December 31,

​

December 31,

​

December 31,

 

​

​

2020

​

2021

​

2022

 

Institutional cooperator A

 

Nil

 

*

 

29.6

%

Institutional cooperator B

​

*

​

*

​

12.3

%

Institutional cooperator C

​

54.4

%

27.6

%

*

​

​

​

​

​

​

​

​

​

​

    

As of December 31,

    

As of December 31,

 

​

​

2021

​

2022

​

Institutional cooperator A

​

*

​

26.3

%

Institutional cooperator B

 

*

 

13.7

%

Institutional cooperator D

​

Nil

​

15.6

%

Institutional cooperator E

​

15.5

%

*

​

Institutional funding partner A

​

11.0

%

*

​

​

​

​

​

​

​

​

​

​

    

As of December 31,

    

As of December 31,

 

​

​

2021

​

2022

​

Institutional cooperator B

​

*

​

20.1

%

Institutional cooperator C

​

30.7

%

Nil

​

Institutional cooperator D

 

*

​

19.2

%

Institutional cooperator E

 

23.1

%

10.7

%

Institutional cooperator F

​

*

​

10.0

%

* Less than 10%.

Xiaoying Housing Loan [Member]  
Summary of significant accounting policies  
Schedule of aging of past due accounts receivables

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

    

Over due 1 – 2

    

Over due 2 – 3

    

Over due over 3

    

​

Aging

​

 years

​

 years

​

 years

​

Total

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Housing Loans

 

—

​

1,392,439

​

10,690,878

​

12,083,317

​

​

​

​

​

​

​

​

​

​

As of December 31, 2022

    

Over due 1 – 2

    

Over due 2 – 3

    

Over due over 3

    

​

Aging

​

 years

​

 years

​

 years

​

Total

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Housing Loans

 

—

​

—

​

10,061,258

​

10,061,258

​

​

​

​

​

​

​

​

​

​

As of December 31, 2022

    

Over due 

    

Over due 

    

Over due 

    

​

Aging

​

1 – 2 years

​

2 – 3 years

​

over 3 years

​

Total

​

​

US$

​

US$

​

US$

​

US$

Xiaoying Housing Loans

 

—

 

—

​

1,458,745

​

1,458,745

​

Schedule of movement in provision for loans receivable

​

​

​

​

​

​

​

​

​

    

Provision for Loans Receivable

    

​

    

​

As of December 31, 2019

    

from Xiaoying Housing Loans

    

Charge-off

    

As of December 31, 2020

RMB

​

RMB

​

RMB

​

RMB

48,211,512

 

17,993,570

​

(66,205,082)

 

—

​

​

​

​

​

​

​

​

​

    

Reversal of provision for Loans Receivable

    

Recoveries of

    

​

As of December 31, 2020

    

from Xiaoying Housing Loans

    

charge-off

    

As of December 31, 2021

RMB

​

RMB

​

RMB

​

RMB

—

 

(377,559)

​

377,559

 

—

​

​

​

​

​

​

​

​

​

    

Reversal of provision for Loans Receivable

    

Recoveries of

    

    

As of December 31, 2021

​

from Xiaoying Housing Loans

​

charge-off

​

As of December 31, 2022

RMB

 

RMB

 

RMB

 

RMB

—

 

(6,066,176)

​

6,066,176

 

—

​

​

​

​

​

​

​

​

​

    

Reversal of provision for Loans Receivable

    

Recoveries of

    

​

As of December 31, 2021

    

from Xiaoying Housing Loans

    

charge-off

    

As of December 31, 2022

US$

​

US$

​

US$

​

US$

—

 

(879,513)

 

879,513

 

—

​

Xiaoying Credit Loans and Revolving Loans [Member]  
Summary of significant accounting policies  
Schedule of aging of past due accounts receivables

​

​

​

​

​

​

​

​

​

​

As of December

​

​

​

​

​

​

​

​

31, 2021

​

​

​

​

​

​

​

​

Aging

    

Not past-due

    

1 - 30 days

    

30 - 60 days

    

Total

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loans

​

2,514,735,264

​

13,800,724

​

8,625,373

​

2,537,161,361

Xiaoying Revolving Loans

​

2,241,915

​

—

​

5,396

​

2,247,311

Total

​

2,516,977,179

​

13,800,724

​

8,630,769

​

2,539,408,672

​

​

​

​

​

​

​

​

​

​

As of December

​

​

​

​

​

​

​

​

31, 2022

​

​

​

​

​

​

​

​

Aging

    

Not past-due

    

1 - 30 days

    

30 - 60 days

    

Total

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loans

​

3,822,596,905

​

22,812,090

​

11,213,448

​

3,856,622,443

Other loans

​

57,586,395

​

1,705,924

​

957,617

​

60,249,936

Total

​

3,880,183,300

​

24,518,014

​

12,171,065

​

3,916,872,379

​

​

​

​

​

​

​

​

​

​

As of December

    

​

​

​

​

​

​

​

31, 2022

​

​

​

​

​

​

​

​

Aging

​

Not past-due

    

1 - 30 days

    

30 - 60 days

    

Total

​

​

US$

​

US$

​

US$

​

US$

Xiaoying Credit Loans

​

554,224,454

​

3,307,442

​

1,625,797

​

559,157,693

Other loans

​

8,349,243

​

247,336

​

138,841

​

8,735,420

Total

​

562,573,697

​

3,554,778

​

1,764,638

​

567,893,113

​

Schedule of loans receivable from Xiaoying Credit Loans and Revolving Loans

​

​

​

​

​

​

​

​

​

​

Loans receivables

​

​

​

​

​

​

from Xiaoying

​

​

​

​

​

​

Credit Loans and

​

​

​

​

​

​

other

​

Allowance for

​

​

As of December 31, 2021

    

loans

    

credit losses

    

Total

​

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loan

​

2,537,161,361

​

(54,725,057)

​

2,482,436,304

Xiaoying Revolving Loan

​

2,247,311

​

(610,684)

​

1,636,627

Total

 

2,539,408,672

​

(55,335,741)

​

2,484,072,931

​

​

​

​

​

​

​

​

​

    

Loans receivables

​

​

​

​

​

​

from Xiaoying

​

​

​

​

​

​

Credit Loans and

​

​

​

​

​

​

other

​

Allowance for

​

​

As of December 31, 2022

    

loans

    

credit losses

    

Total

​

 

RMB

​

RMB

​

RMB

Xiaoying Credit Loan

 

3,856,622,443

​

(103,630,827)

​

3,752,991,616

Other loans

​

60,249,936

​

(2,848,327)

​

57,401,609

Total

 

3,916,872,379

​

(106,479,154)

​

3,810,393,225

​

​

​

​

​

​

​

​

​

    

Loans receivables

​

​

​

​

​

​

from Xiaoying

​

​

​

​

​

​

Credit Loans and

​

​

​

​

​

​

other

​

Allowance for

​

​

As of December 31, 2022

    

loans

    

credit losses

    

Total

​

 

US$

​

US$

​

US$

Xiaoying Credit Loan

 

559,157,693

​

(15,025,057)

​

544,132,636

Other loans

​

8,735,420

​

(412,969)

​

8,322,451

Total

 

567,893,113

​

(15,438,026)

​

552,455,087

​

Schedule of movement in provision for loans receivable

​

​

​

​

​

​

​

​

​

​

​

​

​

    

    

    

    

    

Provision for loans

    

    

    

    

​

​

​

​

​

​

receivable

​

​

​

​

​

​

​

​

​

​

from Xiaoying Credit

​

​

​

​

​

​

As of

​

​

​

Loans and other

​

​

​

​

​

​

January 1,

​

Adoption of ASU

​

loans (net of

​

​

​

As of December

​

​

2020

​

2016-13

​

recovery) (1)

​

Charge-off

​

31, 2020

​

​

RMB

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loans

 

—

 

—

 

74,934,783

 

(4,319,003)

 

70,615,780

Xiaoying Revolving Loans

 

24,709,468

 

4,205,046

 

152,275,243

 

(149,249,753)

 

31,940,004

Total

 

24,709,468

 

4,205,046

 

227,210,026

 

(153,568,756)

 

102,555,784

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(Reversal of)

​

​

​

​

​

​

​

​

provision for

​

​

​

​

​

​

​

​

loans receivable

​

​

​

​

​

​

​

​

from Xiaoying Credit

​

​

​

​

​

    

​

​

Loans and

    

​

    

​

​

    

As of January 1,

    

other loans (net of

    

​

    

As of December 31,

​

​

2021

​

recovery) (1)

​

Charge-off

​

2021

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loans

​

70,615,780

​

80,823,776

​

(96,714,499)

​

54,725,057

Xiaoying Revolving Loans

​

31,940,004

​

(4,428,608)

​

(26,900,712)

​

610,684

Total

 

102,555,784

​

76,395,168

​

(123,615,211)

​

55,335,741

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(Reversal of)

​

​

​

​

​

​

​

​

provision for 

​

​

​

​

​

    

​

​

loans receivable

    

​

​

​

​

​

​

​

 from Xiaoying Credit

​

​

​

​

​

​

​

​

 Loans and 

​

​

​

​

​

​

As of December 31,

​

other loans (net of

​

​

​

As of December 31,

​

    

2021

    

recovery) (1)

    

Charge-off

    

2022

​

​

RMB

​

RMB

​

RMB

​

RMB

Xiaoying Credit Loans

​

54,725,057

​

160,131,434

​

(111,225,664)

​

103,630,827

Xiaoying Revolving Loans

​

610,684

​

—

​

(610,684)

​

—

Other loans

​

—

​

4,510,445

​

(1,662,118)

​

2,848,327

Total

 

55,335,741

​

164,641,879

 

(113,498,466)

 

106,479,154

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(Reversal of)

​

​

​

​

​

    

​

​

provision for loans

    

​

​

​

​

​

​

​

receivable from

​

​

​

​

​

​

​

​

Xiaoying Credit

​

​

​

​

​

​

​

​

Loans and

​

​

​

​

​

​

As of December 31,

​

other loans (net of

​

​

​

As of December 31,

​

    

2021

    

recovery) (1)

    

Charge-off

    

2022

​

​

US$

​

US$

​

US$

​

US$

Xiaoying Credit Loans

​

7,934,387

​

23,216,876

​

(16,126,206)

​

15,025,057

Xiaoying Revolving Loans

​

88,541

​

—

​

(88,541)

​

—

Other loans

​

—

​

653,953

​

(240,984)

​

412,969

Total

 

8,022,928

​

23,870,829

 

(16,455,731)

​

15,438,026

(1)The recoveries of charge-off of loans receivables from Xiaoying Credit Loans and other loans amounted to RMB11,249,305, RMB8,803,265 and RMB12,189,107 (US$1,767,254) during the years ended December 31, 2020, 2021 and 2022, respectively.
Consolidated Trusts [Member]  
Summary of significant accounting policies  
Schedule of financial statements

​

​

​

​

​

​

​

​

​

​

As of

​

​

​

​

​

​

December 31, 

​

As of December 31, 

​

    

2021

    

2022

    

2022

​

​

RMB

​

RMB

​

US$

Assets:

​

  

​

  

​

  

Restricted cash

​

212,812,257

​

398,439,250

​

57,768,261

Accounts receivable and contract assets, net

​

8,335,518

​

37,262,868

​

5,402,608

Loans receivable from Xiaoying Credit Loans and other loans, net

​

1,622,699,799

​

2,771,927,123

​

401,891,655

Loans at fair value

​

389,679,352

​

120,279,612

​

17,438,904

Prepaid expenses and other current assets

​

7,889,836

​

5,073,797

​

735,632

Total assets

​

2,241,416,762

​

3,332,982,650

​

483,237,060

Liabilities:

​

​

​

​

​

​

Payable to investors and institutional funding partners at amortized cost

​

1,466,068,260

​

2,627,910,203

​

381,011,164

Payable to investors at fair value

​

462,714,400

​

141,288,810

​

20,484,952

Other taxes payable

​

5,631,031

​

3,226,746

​

467,834

Accrued expenses and other current liabilities

​

3,259,339

​

16,698,946

​

2,421,120

Total liabilities

​

1,937,673,030

​

2,789,124,705

​

404,385,070

​

​

​

​

​

​

​

​

​

​

​

​

Year ended

​

Year ended

​

​

​

​

​

​

December 31, 

​

December 31, 

​

Year ended December 31, 

​

    

2020

    

2021

    

2022

    

2022

​

​

RMB

​

RMB

​

RMB

​

US$

Net revenue

​

331,300,043

​

285,859,862

​

648,893,767

​

94,080,753

Net income (loss)

​

(19,795,471)

​

105,610,429

​

360,550,889

​

52,274,965

​

​

​

​

​

​

​

​

​

​

​

​

Year ended

​

Year ended

​

​

​

​

​

​

December 31, 

​

December 31, 

​

Year ended December 31, 

​

    

2020

    

2021

    

2022

    

2022

​

​

RMB

​

RMB

​

RMB

​

US$

Net cash provided by (used in) operating activities

​

(20,179,042)

​

155,272,678

​

273,610,963

​

39,669,861

Net cash provided by (used in) investing activities

​

1,139,220,723

​

(433,914,047)

​

(928,400,322)

​

(134,605,394)

Net cash provided by (used in) financing activities

​

(1,092,165,825)

​

14,599,010

​

840,416,352

​

121,848,917

​

VIEs and Consolidated Trusts  
Summary of significant accounting policies  
Schedule of financial statements

​

​

​

​

​

​

​

​

​

​

As of

​

​

​

​

​

​

December 31

​

As of December 31, 

​

    

2021

    

2022

    

2022

​

​

RMB

​

RMB

​

US$

Assets:

​

​

​

​

​

​

Cash and cash equivalents

​

212,766,581

​

116,523,581

​

16,894,331

Restricted cash

​

220,812,257

​

403,439,250

​

58,493,193

Accounts receivable and contract assets, net

​

67,917,846

​

65,289,514

​

9,466,090

Loans receivable from Xiaoying Credit Loans and other loans, net

​

2,458,221,481

​

3,777,595,492

​

547,699,863

Loans at fair value

​

389,679,352

​

120,279,612

​

17,438,904

Deposits to institutional cooperators, net

​

2,702,000

​

—

​

—

Prepaid expenses and other current assets, net

​

104,088,188

​

53,328,083

​

7,731,845

Financial guarantee derivative

​

11,816,799

​

—

​

—

Deferred tax assets, net

​

128,554,651

​

2,277,314

​

330,179

Long-term investments

​

556,571,016

​

495,994,880

​

71,912,498

Property and equipment, net

​

2,673,157

​

604,992

​

87,716

Intangible assets, net

​

29,554,089

​

28,711,872

​

4,162,830

Loan receivable from Xiaoying Housing Loans, net

​

12,083,317

​

10,061,258

​

1,458,745

Income taxes receivable

​

—

​

1,870,729

​

271,230

Other non-current assets

​

4,850,671

​

2,469,629

​

358,063

Total assets

​

4,202,291,405

​

5,078,446,206

​

736,305,487

Liabilities:

​

​

​

​

​

​

Payable to investors and institutional funding partners at amortized cost

​

1,466,068,260

​

2,627,910,203

​

381,011,164

Payable to investors at fair value

​

462,714,400

​

141,288,810

​

20,484,952

Financial guarantee derivative

​

565,953,269

​

107,890,394

​

15,642,637

Short-term borrowings

​

—

​

20,000,000

​

2,899,727

Accrued payroll and welfare

​

8,959,248

​

12,047,490

​

1,746,722

Other taxes payable

​

100,333,129

​

123,105,603

​

17,848,635

Income taxes payable

​

8,189,833

​

—

​

—

Accrued expenses and other current liabilities

​

85,485,440

​

102,148,275

​

14,810,108

Other non-current liabilities

​

—

​

1,937,009

​

280,840

Total liabilities

​

2,697,703,579

​

3,136,327,784

​

454,724,785

​

​

​

​

​

​

​

​

​

​

​

​

Year ended

​

Year ended

​

​

​

​

​

​

December 31, 

​

December 31, 

​

Year ended December 31, 

​

    

2020

    

2021

    

2022

    

2022

​

 

RMB

​

RMB

 

RMB

 

US$

Net revenue

​

754,755,127

​

1,388,255,858

​

1,350,809,649

​

195,848,989

Net income (loss)

​

(180,518,614)

​

695,892,749

​

738,032,308

​

107,004,626

​

​

​

​

​

​

​

​

​

​

​

​

Year ended

​

Year ended

​

​

​

​

​

​

December 31, 

​

December 31, 

​

Year ended December 31, 

​

    

2020

    

2021

    

2022

    

2022

​

​

RMB

​

RMB

​

RMB

​

US$

Net cash provided by (used in) operating activities

​

(190,951,068)

​

485,090,529

​

151,675,178

​

21,990,834

Net cash provided by (used in) investing activities

​

1,133,193,197

​

(702,678,519)

​

(925,707,537)

​

(134,214,977)

Net cash provided by (used in) financing activities

​

(1,073,465,825)

​

(4,100,990)

​

860,416,352

​

124,748,645

​