Variable Interest Entities (VIEs) and Trusts [Line Items]

Schedule of accounts receivable and contract assets

Accounts

 

receivable

Accounts

Allowance for

and contract

receivable

credit losses

assets from

and contract

for accounts

facilitation

post-origination

assets from

receivable and

As of December 31, 2024

 

services

 

financing income

 

guarantee income

 

other revenue

contract assets

Total

RMB

Accounts receivable:

Xiaoying Credit Loan

287,995,740

33,776,512

75,514,367

145,561,816

—

(17,866,589)

524,981,846

Other service

—

58,991,579

(125,514)

58,866,065

Contract assets:

Xiaoying Credit Loan

1,264,077,497

148,259,098

459,631

39,086,515

—

(6,180,181)

1,445,702,560

Total

1,552,073,237

182,035,610

75,973,998

184,648,331

58,991,579

(24,172,284)

2,029,550,471

Accounts

receivable

Accounts

Allowance for

and contract

receivable

credit losses

assets from

and contract

for accounts

facilitation

post-origination

assets from

receivable and

As of December 31, 2025

services

financing income

guarantee income

other revenue

contract assets

Total

RMB

Accounts receivable:

Xiaoying Credit Loan

1,020,377,108

144,057,260

82,869,705

320,487,016

—

(76,482,721)

1,491,308,368

Other service

—

103,525,367

(330,107)

103,195,260

Contract assets:

Xiaoying Credit Loan

1,244,771,082

176,147,633

—

246,117,442

—

(115,564,104)

1,551,472,053

Total

2,265,148,190

320,204,893

82,869,705

566,604,458

103,525,367

(192,376,932)

3,145,975,681

Accounts

receivable

Accounts

Allowance for

and contract

receivable

credit losses

assets from

and contract

for accounts

facilitation

post-origination

assets from

receivable and

As of December 31, 2025

services

financing income

guarantee income

other revenue

contract assets

Total

US$

Accounts receivable:

Xiaoying Credit Loan

145,911,985

20,599,914

11,850,210

45,829,034

—

(10,936,883)

213,254,260

Other service

—

14,803,931

(47,205)

14,756,726

Contract assets:

Xiaoying Credit Loan

177,999,897

25,188,777

—

35,194,326

—

(16,525,447)

221,857,553

Total

323,911,882

45,788,691

11,850,210

81,023,360

14,803,931

(27,509,535)

449,868,539

Schedule of movement of provision for accounts receivable and contract assets


				Provision for (Reversal of)
				accounts receivable		Charge-off for
		As of		and contract assets		accounts		As of
		January 1,		(net of recovery)		receivable and		December 31,
		2023		(1)		contract assets		2023
		RMB		RMB		RMB		RMB
Accounts receivable:
Xiaoying Credit Loan		15,353,343		13,063,863		(24,406,436)		4,010,770
Other loans		39,132		409,477		(435,854)		12,755
Other service		—		1,757,267		—		1,757,267
Contract assets
Xiaoying Credit Loan		6,480,105		(2,994,278)		—		3,485,827
Other loans		2,586		(2,586)		—		—
Total		21,875,166		12,233,743		(24,842,290)		9,266,619


				Provision for (Reversal of)
				accounts receivable		Charge-off for
		As of		and contract assets		accounts		As of
		January 1,		(net of recovery)		receivable and		December 31,
		2024		(1)		contract assets		2024
		RMB		RMB		RMB		RMB
Accounts receivable:
Xiaoying Credit Loan		4,010,770		34,674,923		(20,819,104)		17,866,589
Other loans		12,755		(5,391)		(7,364)		—
Other service		1,757,267		(1,631,753)		—		125,514
Contract assets
Xiaoying Credit Loan		3,485,827		2,694,354		—		6,180,181
Total		9,266,619		35,732,133		(20,826,468)		24,172,284


				Provision for
				accounts receivable		Charge-off for
		As of		and contract assets		accounts		As of
		January 1,		(net of recovery)		receivable and		December 31,
		2025		(1)		contract assets		2025
		RMB		RMB		RMB		RMB
Accounts receivable:
Xiaoying Credit Loan		17,866,589		133,130,736		(74,514,604)		76,482,721
Other service		125,514		204,593		—		330,107
Contract assets
Xiaoying Credit Loan		6,180,181		109,383,923		—		115,564,104
Total		24,172,284		242,719,252		(74,514,604)		192,376,932


				Provision for
				accounts receivable		Charge-off for
		As of		and contract assets		accounts		As of
		January 1,		(net of recovery)		receivable and		December 31,
		2025		(1)		contract assets		2025
		US$		US$		US$		US$
Accounts receivable:
Xiaoying Credit Loan		2,554,888		19,037,442		(10,655,447)		10,936,883
Other service		17,949		29,256		—		47,205
Contract assets
Xiaoying Credit Loan		883,754		15,641,693		—		16,525,447
Total		3,456,591		34,708,391		(10,655,447)		27,509,535

(1)The recoveries of charge-off of accounts receivables and contract assets amounted to RMB244,196, RMB876,116 and RMB1,674,306 (US$239,423) during the years ended December 31, 2023, 2024 and 2025, respectively.

Schedule of supplemental cash flow information related to operating leases


	As of December 31, 2025
	RMB	US$
Cash payments for operating leases	20,271,707	2,898,816
ROU assets obtained in exchange for operating lease liabilities	10,857,421	1,552,591

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


		Year ended		Year ended
		December 31,		December 31,
		2024		2025
Institutional cooperator A		25.2	%	11.4	%
Institutional cooperator B		10.2	%	*


		As of December 31,		As of December 31,
		2024		2025
Institutional cooperator A		12.2	%	*
Institutional cooperator B		14.1	%	*
Institutional cooperator C		10.8	%	10.2	%
Institutional cooperator D		*		11.5	%


		As of December 31,		As of December 31,
		2024		2025
Institutional cooperator B		15.1	%	*
Institutional cooperator C		*		13.2	%
Institutional cooperator D		*		13.2	%
Institutional cooperator E		*		13.5	%

* Less than 10%.

Variable Interest Entities (VIEs) and Trusts [Line Items]

Schedule of aging of past due accounts receivables


As of December 31, 2024				Past due		Past due
Aging		Current		1 - 30 days		30 - 60 days		Total
		RMB		RMB		RMB		RMB
Loan originated or facilitated in 2023
Xiaoying Credit Loans		306,140		443,897		646,547		1,396,584
Loan originated or facilitated in 2024
Xiaoying Credit Loans		4,927,629,181		47,724,414		27,387,445		5,002,741,040
Total		4,927,935,321		48,168,311		28,033,992		5,004,137,624


As of December 31, 2025				Past due		Past due
Aging		Current		1 - 30 days		30 - 60 days		Total
		RMB		RMB		RMB		RMB
Loan originated or facilitated in 2024
Xiaoying Credit Loans		3,035,546		511,986		1,062,251		4,609,783
Loan originated or facilitated in 2025
Xiaoying Credit Loans		5,436,846,542		53,967,421		39,440,907		5,530,254,870
Total		5,439,882,088		54,479,407		40,503,158		5,534,864,653


As of December 31, 2025				Past due		Past due
Aging		Current		1 - 30 days		30 - 60 days		Total
		US$		US$		US$		US$
Loan originated or facilitated in 2024
Xiaoying Credit Loans		434,077		73,213		151,900		659,190
Loan originated or facilitated in 2025
Xiaoying Credit Loans		777,458,715		7,717,239		5,639,975		790,815,929
Total		777,892,792		7,790,452		5,791,875		791,475,119

Schedule of movement in provision for loans receivable


			Provision for
			(Reversal of)
			loans receivable
			from Xiaoying Credit
			Loans and
	As of December 31,		other loans (net of		As of December 31,
	2022		recovery) (1)	Charge-off	2023
	RMB		RMB	RMB	RMB
Xiaoying Credit Loans	103,630,827		234,237,584	(149,149,536)	188,718,875
Xiaoying Revolving Loans	—		(2,737,290)	2,737,290	—
Other loans	2,848,327		1,849,982	(4,697,735)	574
Total	106,479,154		233,350,276	(151,109,981)	188,719,449


				Provision for
				(Reversal of)
				loans receivable
				from Xiaoying Credit
				Loans and
		As of December 31,		other loans (net of				As of December 31,
		2023		recovery) (1)		Charge-off		2024
		RMB		RMB		RMB		RMB
Xiaoying Credit Loans		188,718,875		226,865,598		(239,763,844)		175,820,629
Xiaoying Revolving Loans		—		(900,606)		900,606		—
Other loans		574		(149,665)		149,091		—
Total		188,719,449		225,815,327		(238,714,147)		175,820,629


				Provision for
				(Reversal of)
				loans receivable
				from Xiaoying Credit
				Loans and
		As of December 31,		other loans (net of				As of December 31,
		2024		recovery) (1)		Charge-off		2025
		RMB		RMB		RMB		RMB
Xiaoying Credit Loans		175,820,629		340,274,053		(279,861,417)		236,233,265
Other loans		—		(56,895)		56,895		—
Total		175,820,629		340,217,158		(279,804,522)		236,233,265


				Provision for
				(Reversal of)
				loans receivable
				from Xiaoying Credit
				Loans and
		As of December 31,		other loans (net of				As of December 31,
		2024		recovery) (1)		Charge-off		2025
		US$		US$		US$		US$
Xiaoying Credit Loans		25,142,016		48,658,542		(40,019,650)		33,780,908
Other loans		—		(8,135)		8,135		—
Total		25,142,016		48,650,407		(40,011,515)		33,780,908

(1)The recoveries of charge-off of loans receivables from Xiaoying Credit Loans and other loans amounted to RMB13,488,360, RMB9,251,001 and RMB27,672,522 (US$3,957,118) during the years ended December 31, 2023, 2024 and 2025, respectively.

Variable Interest Entities (VIEs) and Trusts [Line Items]

Schedule of financial statements


	As of
	December 31,	As of December 31,
	2024	2025	2025
	RMB	RMB	US$
Assets:
Cash and cash equivalents	180,683,740	107,519,437	15,375,075
Restricted cash	532,603,866	823,463,489	117,753,713
Accounts receivable and contract assets, net	74,750,686	108,186,142	15,470,413
Loans receivable from Xiaoying Credit Loans and other loans, net	4,775,126,977	5,263,508,938	752,671,768
Prepaid expenses and other current assets	19,491,239	20,150,470	2,881,479
Deferred tax assets, net	174,395,511	184,952,280	26,447,824
Financial investments	33,428,162	33,908,236	4,848,813
Long-term investments	498,038,310	515,523,849	73,718,930
Property and equipment, net	1,138,186	4,621,210	660,824
Intangible assets, net	27,706,487	27,499,276	3,932,344
Other non-current assets	21,976	3,573,473	511,000
Total assets	6,317,385,140	7,092,906,800	1,014,272,183
Liabilities:
Payable to investors and institutional funding partners at amortized cost	2,184,085,667	3,054,981,462	436,856,539
Short-term borrowings	10,000,000	130,000,000	18,589,753
Accrued payroll and welfare	18,482,497	11,482,779	1,642,016
Other taxes payable	119,683,947	58,251,812	8,329,898
Income taxes payable	174,425,660	169,015,224	24,168,856
Accrued expenses and other current liabilities	94,825,511	163,383,863	23,363,582
Deferred tax liabilities	642,602	1,051,597	150,376
Other non-current liabilities	—	2,252,921	322,163
Total liabilities	2,602,145,884	3,590,419,658	513,423,183


	Year ended	Year ended
	December 31,	December 31,	Year ended December 31,
	2023	2024	2025	2025
	RMB	RMB	RMB	US$
Net revenue	1,500,275,059	1,809,619,313	1,931,618,562	276,217,781
Net income	438,091,276	623,964,980	687,071,274	98,249,886


	Year ended	Year ended
	December 31,	December 31,	Year ended December 31,
	2023	2024	2025	2025
	RMB	RMB	RMB	US$
Net cash provided by operating activities	628,719,431	1,517,583,263	507,365,227	72,552,262
Net cash used in investing activities	(1,251,376,124)	(106,448,449)	(828,175,085)	(118,427,462)
Net cash provided by (used in) financing activities	1,114,841,744	(1,709,955,090)	875,347,569	125,173,038