Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

18. COMMITMENTS AND CONTINGENCIES

The Group has not entered into any off-balance sheet financial guarantees or other off-balance sheet commitments to guarantee the payment obligations of any third parties. The Company has not entered into any derivative contracts that are indexed to the company’s shares and classified as shareholder’s equity or that are not reflected in the Company’s consolidated financial statements. Furthermore, the Company does not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. The Company does not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or product development services with us.

The following table sets forth the Company’s contractual obligations as of December 31, 2023:

	Payments due by period
	Total		Within one year		Within 1-2 years		Over 2 years
	RMB
Operating lease payment		14,023,293		8,806,671		3,405,098		1,811,524
Bank borrowings		30,003,498		30,003,498		-		-
Loan from a related party		3,000,000		3,000,000		-		-
Loans from a third party		2,833,080		-		2,833,080		-
Loan from a shareholder		823,265		-		823,265		-
Total		50,683,136		41,810,169		7,061,443		1,811,524

Other than as shown above, the Company did not have any significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2023.