0001213900-23-021237 | 6-K | XBRL Viewer

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Document And Entity Information	6 Months Ended
Document And Entity Information	Dec. 31, 2022
Document Information Line Items
Entity Registrant Name	Puyi Inc.
Document Type	6-K
Current Fiscal Year End Date	--06-30
Amendment Flag	false
Entity Central Index Key	0001750264
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity File Number	001-38813

Unaudited Condensed Consolidated Statements of Financial Position ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 75,233	$ 10,908	¥ 194,259
Restricted cash	16,434	2,383	118,796
Accounts receivable, net	53,845	7,807	59,507
Short-term investments			5,000
Other receivables and current assets	8,926	1,294	14,298
Short-term loans receivable	103,557	15,014
Amount due from related parties	7,761	1,125	2,895
Total current assets	265,756	38,531	394,755
Property and equipment, net	5,931	860	9,156
Intangible assets, net	1,036	150	1,114
Long-term prepayments	620	90	551
Deferred tax assets	26,403	3,828	23,978
Right-of-use assets	24,556	3,560	34,382
Total assets	324,302	47,019	463,936
Current liabilities:
Accounts payable (including the VIEs amount without recourse to the Company of RMB11,125 and RMB10,795 as of June 30, 2022 and December 31, 2022, respectively)	14,597	2,116	11,668
Investors’ deposit (including the VIEs amount without recourse to the Company of RMB118,796 and RMB16,434 as of June 30, 2022 and December 31, 2022, respectively)	16,434	2,383	118,796
Other payables and accrued expenses (including the VIEs amount without recourse to the Company of RMB62,479 and RMB65,219 as of June 30, 2022 and December 31, 2022, respectively)	22,529	3,266	19,445
Lease liabilities, current (including the VIEs amount without recourse to the Company of RMB4,855 and RMB4,603as of June 30, 2022 and December 31, 2022, respectively)	8,857	1,284	11,889
Income taxes payable (including the VIEs amount without recourse to the Company of RMB3,536 and RMB1,614 as of June 30, 2022 and December 31, 2022, respectively)	1,614	235	3,536
Amount due to related parties (including the VIEs amount without recourse to the Company of RMB292 and RMB62 as of June 30, 2022 and December 31, 2022, respectively)	236	34	292
Advance receipts from related parties (including the VIEs amount without recourse to the Company of nil as of June 30, 2022 and December 31, 2022)			1,500
Total current liabilities	64,267	9,318	167,126
Other tax liabilities, non-current (including the VIEs amount without recourse to the Company of RMB11,730 and RMB11,730 as of June 30, 2022 and December 31, 2022, respectively)	13,500	1,957	13,500
Lease liabilities, non-current (including the VIEs amount without recourse to the Company of RMB15,154 and RMB12,631 as of June 30, 2022 and December 31, 2022, respectively)	17,587	2,550	23,259
Total liabilities	95,354	13,825	203,885
Commitments and contingencies
EQUITY:
Ordinary shares (2,000,000,000 shares at US$0.001 each authorized, and 90,472,014 shares issued and outstanding as of June 30, 2022 and December 31, 2022)	600	87	600
Additional paid-in capital	224,694	32,578	224,694
Statutory reserves	23,314	3,380	23,314
Retained earnings	(19,618)	(2,845)	11,836
Accumulated other comprehensive loss	(42)	(6)	(393)
Total equity	228,948	33,194	260,051
Total liabilities and equity	¥ 324,302	$ 47,019	¥ 463,936

Unaudited Condensed Consolidated Statements of Financial Position (Parentheticals) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Statement of Financial Position [Abstract]
Accounts payable VIE amount	¥ 10,795	¥ 11,125
Investors’ deposit VIE amount	16,434	118,796
Other tax liabilities VIE amount	65,219	62,479
Lease liabilities, current VIE amount	4,603	4,855
Income taxes payable VIE amount	1,614	3,536
Amount due to related parties VIE amount	62	292
Advance receipts VIE amount
Other tax liabilities, non-current VIE amount	11,730	11,730
Lease liabilities, non-current VIE amount	¥ 12,631	¥ 15,154
Ordinary shares authorized (in Shares)	2,000,000,000	2,000,000,000
Ordinary shares, issued (in Shares)	90,472,014	90,472,014
Ordinary shares, outstanding (in Shares)	90,472,014	90,472,014
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share)	¥ 0.001	¥ 0.001

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Net revenues:
Wealth management	¥ 53,546	$ 7,763	¥ 94,232
Asset management	1,161	168	3,704
Insurance consulting	6,999	1,015	3,290
Others	6,723	975	260
Total net revenues	68,429	9,921	101,486
Operating costs and expenses:
Cost of sales	(14,601)	(2,117)	(22,064)
Selling expenses	(42,135)	(6,109)	(77,085)
General and administrative expenses	(49,952)	(7,242)	(50,764)
Total operating costs and expenses	(106,688)	(15,468)	(149,913)
Loss from operations	(38,259)	(5,547)	(48,427)
Other income, net:
Interest income	4,579	664	4,088
Investment loss	(176)	(26)
Sundry income	723	105	1,674
Loss before income taxes	(33,133)	(4,804)	(42,665)
Income tax benefit	1,679	243	3,421
Net loss	(31,454)	(4,561)	(39,244)
Other comprehensive income (loss), net of tax: Foreign currency translation adjustments	351	51	(160)
Total comprehensive loss	¥ (31,103)	$ (4,510)	¥ (39,404)
Net loss per share:
Basic and diluted (in Dollars per share and Yuan Renminbi per share) \| (per share)	¥ (0.348)	$ (0.05)	¥ (0.434)
Net loss per ADS:
Basic and diluted (in Dollars per share and Yuan Renminbi per share) \| (per share)	¥ (0.522)	$ (0.076)	¥ (0.651)
Weighted average number of shares used in computation:
Basic and diluted (in Shares)	90,472,014	90,472,014	90,472,014
Net loss	¥ (31,454)	$ (4,561)	¥ (39,244)

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (Parentheticals)	6 Months Ended
	Dec. 31, 2022 ¥ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 ¥ / shares shares
Income Statement [Abstract]
Diluted net loss per share \| (per share)	¥ (0.348)	$ (0.050)	¥ (0.434)
Diluted net loss per ADS \| (per share)	¥ (0.522)	$ (0.076)	¥ (0.651)
Weighted average number of shares used in computation of diluted (in Shares)	90,472,014	90,472,014	90,472,014

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Unaudited Consolidated Statements of Shareholders’ Equity ¥ in Thousands, $ in Thousands	Share Capital CNY (¥) shares	Share Capital USD ($) shares	Additional Paid-in Capital CNY (¥)	Additional Paid-in Capital USD ($)	Statutory Reserves CNY (¥)	Statutory Reserves USD ($)	Retained Earnings CNY (¥)	Retained Earnings USD ($)	Accumulated Other Comprehensive Income (loss) CNY (¥)	Accumulated Other Comprehensive Income (loss) USD ($)	CNY (¥)	USD ($)
Balance at Jun. 30, 2021	¥ 600		¥ 224,694		¥ 23,103		¥ 72,714		¥ (810)		¥ 320,301
Balance (in Shares) at Jun. 30, 2021 \| shares	90,472,014	90,472,014
Net loss							(39,244)				(39,244)
Provision for statutory reserves					305		(305)
Other comprehensive income: foreign currency translation adjustments									(160)		(160)
Balance at Dec. 31, 2021	¥ 600		224,694		23,408		33,165		(970)		280,897
Balance (in Shares) at Dec. 31, 2021 \| shares	90,472,014	90,472,014
Balance at Jun. 30, 2022	¥ 600		224,694		23,314		11,836		(393)		260,051
Balance (in Shares) at Jun. 30, 2022 \| shares	90,472,014	90,472,014
Net loss							(31,454)				(31,454)	$ (4,560)
Other comprehensive income: foreign currency translation adjustments									351		351
Balance at Dec. 31, 2022	¥ 600		¥ 224,694		¥ 23,314		¥ (19,618)		¥ (42)		¥ 228,948
Balance (in Shares) at Dec. 31, 2022 \| shares	90,472,014	90,472,014
Balance (in Shares) at Dec. 31, 2022 \| shares	90,472,014	90,472,014
Balance (in Dollars) \| $		$ 87		$ 32,578		$ 3,380		$ (2,845)		$ (6)		$ 33,194

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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+ Details

Unaudited Condensed Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (31,454)	$ (4,560)	¥ (39,244)
Adjustments to reconcile net loss to net cash generated from operating activities:
Depreciation	2,058	298	3,273
Amortization of intangible assets	383	56	437
Provision on uncertain tax liability			500
Investment loss	176	26
Interest income	(3,557)	(516)	666
Allowance for deferred tax assets	2,292	332	1,252
Amortization of right-of-use assets	5,244	760	7,608
Loss on disposal of property, plant and equipment	1,872	271
Changes in operating assets and liabilities:
Accounts receivable	5,661	821	(1,117)
Other receivables and current assets	5,372	779	(496)
Accounts payable	2,928	425	(151)
Investor’s deposit	(102,361)	(14,841)	26,587
Other payables and accrued expenses	3,083	447	4,737
Advance receipts	(1,500)	(217)
Deferred tax assets	(4,717)	(684)	(5,237)
Income taxes payable	(1,921)	(279)	(9)
Amount due from related parties	(4,865)	(705)	(1,191)
Amounts due to related parties	(56)	(8)	358
Lease liabilities	(4,122)	(598)	(7,274)
Net cash used in operating activities	(125,484)	(18,193)	(9,301)
Cash flows from investing activities:
Proceeds from disposal of short-term investments and commercial notes	4,823	699
Purchase of short-term investments			(5,000)
Purchase of property and equipment	(705)	(102)	(3,058)
Change in long-term prepayment for intangible assets	(69)	(10)	42
Purchase of intangible assets	(304)	(44)	(343)
Distribution of short-term loans receivable	(100,000)	(14,499)	(30,000)
Collection of short-term loans receivable			30,000
Net cash used in investing activities	(96,255)	(13,956)	(8,359)
Cash flows from financing activities:
Net cash provided by financing activities
Net decrease in cash and cash equivalents, and restricted cash	(221,739)	(32,149)	(17,660)
Cash and cash equivalents, and restricted cash at beginning of year	313,055	45,389	332,782
Effect of exchange rate changes on cash and cash equivalents	351	51	(160)
Cash and cash equivalents, and restricted cash at end of year	91,667	13,291	314,962
Supplementary disclosure of cash flow information:
Cash paid for income taxes			9
Supplementary disclosure related to operating leases:
New operating lease liabilities arose from obtaining right-of-use assets	2,975	431	25,362
Change on lease liabilities arose from modification on lease terms	(62)	(9)
Change on lease liabilities arose from early termination of operating leases	¥ (8,248)	$ (1,196)	¥ (9,848)

Organization and Principal Activities

6 Months Ended

Dec. 31, 2022

Organization and Principal Activities [Abstract]

ORGANIZATION AND PRINCIPAL ACTIVITIES

1. ORGANIZATION AND PRINCIPAL ACTIVITIES

Puyi Inc. (“Puyi” or the “Company”), whose principal shareholder is Mr. Yu Haifeng, is a holding company incorporated on August 6, 2018 in the Cayman Islands, and listed on the Nasdaq on March 29, 2019. The Company, its subsidiaries and the consolidated variable interest entities (the “VIEs”) are collectively referred to as the “Group.” The Group primarily provides wealth management services to China’s large and growing emerging middle class and affluent population, whom are defined as those with at least RMB30 and RMB600 in investable assets, respectively.

The Company’s subsidiaries and the VIEs as of December 31, 2022 include the following:

Name	Date of incorporation/ acquired	Place of incorporation	Percentage of effective ownership	Principal Activities
Wholly owned subsidiaries
Puyi Group	July 2018	BVI	100%	Holding company
Puyi Holdings (Hong Kong) Limited (“Puyi HK”)	July 2018	Hong Kong	100%	Holding company
Puyi Enterprises Management Consulting Co., Ltd. (“Puyi Consulting” or the Wholly Foreign-Owned Enterprise “WFOE”)	August 2018	Chengdu	100%	WFOE
Puyi Dake	May 2020	Chengdu	100%	Information technology
Puyi FO	May 2022	Zhuhai	100%	Trust consulting
Variable Interest Entities (“VIEs”)
Puyi Bohui	April 2012	Chengdu	100%	Information technology
Puyi Fund	November 2010	Chengdu	100%	Fund product distribution
Puyi Zhongxiang	April 2014	Shenzhen	100%	Financial product distribution
Puyi Asset	May 2013	Shenzhen	100%	Asset management
Chongqing Fengyi	December 2016	Chongqing	100%	Corporate financing business

A substantial portion of assets and liabilities presented on the Group’s Condensed Consolidated Statements of Financial Position and sales, expense, net income presented on Condensed Consolidated Statement of Operations and Comprehensive Loss as well as the cash flow from operating, investing and financing activities presented on the Condensed Consolidated Statements of Cash Flows are from the financial position, operation and cash flow of Puyi Bohui and its subsidiaries. The following tables present the selected condensed consolidating schedules depicting the financial position, results of operations and cash flows for the parent, the VIEs, the WFOEs and an aggregation of other entities, eliminating intercompany amounts and consolidated totals as of June 30, 2022 and December 31, 2022 and for the six months ended December 31, 2021 and 2022. In these tables, “Parent” refers to Puyi Inc. “VIEs” refers to Puyi Bohui and its subsidiaries. “WFOEs” refers to Puyi Consulting, Puyi Dake and Puyi FO. “Other subsidiaries” refers to Puyi Group and Puyi HK.

Selected Condensed Consolidating Schedule of Financial Position

	June 30, 2022
	Parent		VIEs		WFOEs		Other subsidiaries		Eliminating adjustments			Consolidated totals
Cash and cash equivalents		11,732		123,276		58,647		604		-			194,259
Restricted cash		-		118,796		-		-		-			118,796
Inter-group balance due from VIEs and subsidiaries		77		20,000		46,029		-		(66,106	)		-
Investments in subsidiaries		248,459		-		-		-		(248,459	)		-
Other assets		-		91,869		59,012		-		-			150,881
Total assets		260,268		353,941		163,688		604		(314,565	)		463,936
Inter-group balance due to VIEs and subsidiaries		-		46,008		20,000		21		(66,029	)		-
Inter-group balance due to parent		-		-		-		77		(77	)		-
Other liabilities		217		181,959		21,709		-		-			203,885
Total liabilities		217		227,967		41,709		98		(66,106	)		203,885
Total equity		260,051		125,974		121,979		506		(248,459	)		260,051

	December 31, 2022
	Parent		VIEs		WFOEs		Other subsidiaries		Eliminating adjustments			Consolidated totals
Cash and cash equivalents		11,172		42,943		20,473		645		-			75,233
Restricted cash		-		16,434		-		-		-			16,434
Inter-group balance due from VIEs and subsidiaries		80		37,950		47,121		-		(85,151	)		-
Investments in subsidiaries		217,696		-		-		-		(217,696	)		-
Other assets		-		122,218		109,957		460		-			232,635
Total assets		228,948		219,545		177,551		1,105		(302,847	)		324,302
Inter-group balance due to VIEs and subsidiaries		-		47,100		37,950		21		(85,071	)		-
Inter-group balance due to parent		-		-		-		80		(80	)		-
Other liabilities		-		75,988		19,366		-		-			95,354
Total liabilities		-		123,088		57,316		101		(85,151	)		95,354
Total equity		228,948		96,457		120,235		1,004		(217,696	)		228,948

Selected Condensed Consolidating Schedule of Results of Operations

	Six months ended December 31, 2021
	Parent			VIEs			WFOEs			Other subsidiaries			Eliminating adjustments			Consolidated totals
Revenues		-			89,381			23,670			-			(11,565	)		101,486
Cost of revenues		-			(31,312	)		(2,317	)		-			11,565			(22,064	)
Operating expenses		(398	)		(86,701	)		(41,053	)		(185	)		488			(127,849	)
Loss from operations		(398	)		(28,632	)		(19,700	)		(185	)		488			(48,427	)
Other income, net		18			2,390			3,838			-			(484	)		5,762
Share of loss from subsidiaries		(38,805	)		-			-			-			38,805			-
Loss before income taxes		(39,185	)		(26,242	)		(15,862	)		(185	)		38,809			(42,665	)
Income tax (expense) benefit		(64	)		3,735			(250	)		-			-			3,421
Net loss		(39,249	)		(22,507	)		(16,112	)		(185	)		38,809			(39,244	)

	Six months ended December 31, 2022
	Parent			VIEs			WFOEs			Other subsidiaries			Eliminating adjustments			Consolidated totals
Revenues		-			46,576			33,758			502			(12,407	)		68,429
Cost of revenues		-			(19,737	)		(6,201	)		-			11,346			(14,601	)
Operating expenses		(935	)		(62,139	)		(30,553	)		(9	)		1,549			(92,087	)
Loss from operations		(935	)		(35,300	)		(3,005	)		493			488			(38,259	)
Other income, net		245			2,864			2,500			5			(488	)		5,126
Share of loss from subsidiaries		(30,763	)		-			-			-			30,763			-
Loss before income taxes		(31,453	)		(32,436	)		(505	)		498			30,763			(33,133	)
Income tax (expense) benefit		(1	)		2,919			(1,239	)		-			-			1,679
Net loss		(31,454	)		(29,517	)		(1,744	)		498			30,763			(31,454	)

	Six months ended December 31, 2021
	Parent			VIEs			WFOEs			Other subsidiaries			Eliminating adjustments		Consolidated totals
Net cash provided by (used in) operating activities		(844	)		42,322			(50,607	)		(172	)		-		(9,301	)
Net cash used in investing activities		-			(7,627	)		(732	)		-			-		(8,359	)
Net cash provided by (used in) financing activities		-			-			-			-			-		-
Net increase (decrease) in cash and cash equivalents, and restricted cash		(844	)		34,695			(51,339	)		(172	)		-		(17,660	)
Cash and cash equivalents, and restricted cash at the beginning of year		12,770			198,842			120,422			748			-		332,782
Effect of exchange rate changes on cash and cash equivalents		(160	)		-			-			-			-		(160	)
Cash and cash equivalents, and restricted cash at the end of year		11,766			233,537			69,083			576			-		314,962

	Six months ended December 31, 2022
	Parent			VIEs			WFOEs			Other subsidiaries		Eliminating adjustments		Consolidated totals
Net cash provided by (used in) operating activities		(911	)		(136,477	)		11,863			41		-		(125,484	)
Net cash used in investing activities		-			(46,218	)		(50,037	)		-		-		(96,255	)
Net cash provided by (used in) financing activities		-			-			-			-		-		-
Net increase (decrease) in cash and cash equivalents, and restricted cash		(911	)		(182,695	)		(38,174	)		41		-		(221,739	)
Cash and cash equivalents, and restricted cash at the beginning of year		11,732			242,072			58,647			604		-		313,055
Effect of exchange rate changes on cash and cash equivalents		351			-			-			-		-		351
Cash and cash equivalents, and restricted cash at the end of year		11,172			59,377			20,473			645		-		91,667

Our subsidiaries and the VIEs conduct business transactions that primarily include wealth management services and asset management services. The cash flows that have occurred between our subsidiaries and the VIEs are summarized as the following:

	Six months ended December 31,
	2021		2022
	RMB		RMB		US$
Cash paid by the VIEs to equity-owned subsidiary Puyi Consulting for consulting services		10,459		10,478		1,519
Cash paid by the VIEs to equity-owned subsidiary Puyi Dake for technical services		-		2,850		413
Cash paid by the VIEs to equity-owned subsidiary Puyi Consulting for office rental and other services		607		532		77
Cash paid by equity-owned subsidiary Puyi Consulting to the VIEs for digital marketing and IT related services		2,400		-		-
Intercompany advances from equity owned subsidiaries to the VIEs		44,435		3,290		477
Repayment of intercompany advances by the VIEs		59,965		2,198		319
Intercompany advances from the VIEs to equity owned subsidiaries		63,288		42,880		6,217
Repayment of intercompany advances by equity owned subsidiaries		107,688		24,930		3,615

The cash flows occurred between our subsidiaries and the VIEs included the following: (1) cash received by our subsidiaries from the VIEs of RMB10,459 and RMB10,478 for the six months ended December 31, 2021 and 2022, respectively, for the provision of consulting services; (2) cash received by our subsidiaries from the VIEs of nil and RMB2,850 for the six months ended December 31, 2021 and 2022, respectively, for the provision of technical services; (3) cash received by our subsidiaries from the VIEs of RMB607 and RMB532 for the six months ended December 31, 2021 and 2022, respectively, for the provision of office rental and other services; (4) cash received by the VIEs from our subsidiaries of RMB2,400 and nil for the six months ended December 31, 2021 and 2022, respectively, for the provision of digital marketing and IT related services; (5) cash received by the VIEs from our subsidiaries as inter-company advances of RMB44,435 and RMB3,290 for the six months ended December 31, 2021 and 2022, respectively; (6) repayment of inter-company advances by the VIEs to our subsidiaries of RMB59,965 and RMB2,198 for the six months ended December 31, 2021 and 2022, respectively; (7) cash received by our subsidiaries from the VIEs as inter-company advances of RMB63,288 and RMB42,880 for the six months ended December 31, 2021 and 2022, respectively; and (8) repayment of inter-company advances by our subsidiaries to the VIEs of RMB107,688 and RMB24,930 for the six months ended December 31, 2021 and 2022, respectively.

Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)

Basis of presentation and consolidation

The condensed consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The condensed consolidated financial statements include the financial statements of the Group, all of its majority-owned subsidiaries and the VIEs of which the Group is the primary beneficiary, from the dates they were acquired or incorporated. All intercompany balances and transactions have been eliminated in consolidation.

(b)

Use of estimates

The preparation of the condensed consolidated financial statements in conformity with US GAAP requires management of the Group to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant accounting estimates reflected in the Group’s condensed consolidated financial statements include but are not limited to estimates and judgments applied in the allowance for doubtful loans and receivables, impairment assessment of long-lived assets, valuation allowance for deferred tax assets, fair value measurement of investments, and uncertain tax positions, assumptions related to the consolidation of entities in which the Group holds variable interests. Actual results could differ from those estimates and judgments.

(c)

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash with original maturity of three months or less, and have insignificant risk of changes in value related to changes in interest rates.

(d)

Restricted cash

Restricted cash mainly represents the investors’ uninvested cash balances temporarily deposited in the Group’s bank account. These cash balances were under the custody and supervision of the designated financial institution as required by China Securities Regulatory Commission, for the purpose of preventing misuse of investors’ funds.

(e)

Accounts receivable, other receivables and current assets, and amount due from related parties, net

Accounts receivable, other receivables and current assets and amount due from related parties are recorded at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Group’s best estimate of the amount of probable credit losses in the Group’s existing accounts receivable, other receivables and current assets and amount due from related parties. The Group determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Group did not have any off-balance-sheet credit exposure relating to its customers, suppliers or others. As of June 30, 2022 and December 31, 2022, the Group recorded RMB6,892 as allowances for doubtful accounts against its accounts receivable, and did not record any allowances for doubtful accounts against its other receivables and current assets and amount due from related parties. The Group did not charge off any allowances for the six months ended December 31, 2021 and 2022.

(f)

Short-term loans receivable

The Group recognizes the contractual right to receive money on demand or on fixed or determinable dates as loans receivable. For those that the contractual maturity date is less than one year, the Group records as short-term loans receivable.

The Group recognized interest income on an accrual basis using the straight-line method over the fixed or determinable dates.

(g)

Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation and impairment losses, if any. Cost represents the purchase price of the asset and other costs incurred to bring the asset into its existing use. Maintenance, repairs and betterments, including replacement of minor items, are charged to expense; major additions to physical properties are capitalized.

Depreciation and amortization are calculated using the straight-line method over the following estimated useful lives, without residual value:

		Estimated useful life
Office equipment, furniture, fixtures		3-5 years
Motor vehicles		3-5 years
Leasehold improvements		Shorter of the remaining lease terms and estimated useful lives

(h)

Impairment of long-lived assets

The Group reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group assesses the recoverability of the long-lived assets by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition where the fair value is lower than the carrying value, measurement of an impairment loss is recognized in the Condensed Consolidated Statements of Operations and Comprehensive Loss for the difference between the fair value, using the expected future discounted cash flows, and the carrying value of the assets. No impairment of long-lived assets was recognized for the six months ended December 31, 2021 and 2022.

(i)

Revenue recognition

The Group applies the five-step model outlined in ASC 606, Revenue from Contracts with Customers (“ASC 606”), revenues are accounted for as contracts with customers. Under the guidance for contracts with customers, we are required to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract and (e) recognize revenue when (or as) we satisfy its performance obligations. In determining the transaction price, we have included variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur. Revenues are recorded net of sales related taxes and surcharges.

The Group generates revenues mainly from wealth management, and the Group started to generate revenues from asset management since April 2018 and insurance consulting service since January 2021.

Disaggregation of revenue

	Six months ended December 31,
	2021		2022
	RMB		RMB

Wealth management		94,232		53,546
Distribution commissions		91,208		51,782
-- One-time commissions recognized at a point in time		44,899		16,247
-- Recurring management fees recognized over time		46,309		35,535
Performance-based distribution fees recognized at a point in time		3,024		1,764
Asset management		3,704		1,161
Management fees recognized over time		1,926		1,085
Performance-based fees recognized at a point in time		1,778		76
Insurance consulting services recognized at a point in time		3,290		6,999
Other services⁽¹⁾		261		6,723
Total		101,486		68,429

(1)	Other services primarily consist of consulting services for trust and family wealth inheritance recognized at a point in time.

Contract liability

Contract liability relates to unsatisfied performance obligations at the end of each reporting period and consists of cash payment received in advance and was recorded as “Advance receipts from related parties” in the Condensed Consolidation Statement of Financial Position. The amount of revenue recognized during the six months ended December 31, 2022 that was previously included in the contract liabilities balance as of June 30, 2022 was RMB1,500.

(j) Cost of sales

Cost of sales primarily includes (1) commission costs paid to sales agents based on the pre-agreed percentage and the amount of wealth management product distributions that were directly related to the contributions made by the sales agents, such as the amount of investments they have referred to the Group, and (2) costs related to consulting services for trust and family wealth inheritance.

(k)

Income taxes

The Group follows the guidance of ASC Topic 740 “Income Taxes” and uses liability method to account for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Group records a valuation allowance to offset deferred tax assets, if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized in Condensed Consolidated Statement of Operations and Comprehensive Loss in the period that includes the enactment date.

(l)

Uncertain tax positions

The Group follows the guidance of ASC Topic 740 “Income Taxes,” which prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. This Topic also provides guidance on recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. The Group recognizes interest on non-payment of income taxes and penalties associated with tax positions when a tax position does not meet more-likely-than-not threshold be sustained under examination. The tax returns of the Group’s PRC subsidiaries and the VIEs are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB100. In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion.

(m)

Fair value of financial instruments

The Group records certain of its financial assets and liabilities at fair value on a recurring basis. Fair value is considered to be the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs may be used to measure fair value include:

Level 1	applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2	applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3	applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The carrying values of the Group’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, short-term investments, short-term loans receivable, advance receipts from related parties, accounts payable, investors’ deposit, amounts due from and due to related parties, approximate their fair values due to the short-term nature of these instruments.

(n)

Leases

The Group applies Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) when accounting for leases.

The Group has operating leases primarily for office space. The determination of whether an arrangement is a lease or contains a lease is made at inception by evaluating whether the arrangement conveys the right to use an identified asset and whether the Group obtains substantially all of the economic benefits from and has the ability to direct the use of the asset. Operating leases are included in operating lease right-of-use assets and operating lease liabilities on the Group’s Consolidated Statements of Financial Position. Operating lease ROU assets represent the Group’s right to use an underlying asset for the lease term and operating lease liabilities represent the Group’s obligation to make lease payments arising from the lease. The Group uses its estimated incremental borrowing rate as of the commencement date in determining the present value of lease payments. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at the lease commencement date. To determine the incremental borrowing rate used to calculate the present value of future lease payments, the Group uses information including the Group’s credit rating, interest rates of similar debt instruments of entities with comparable credit ratings, as applicable. Variable components of the lease payments such as utilities, maintenance costs are expensed as incurred and not included in determining the present value. The lease terms include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. The Group considers these options, which may be elected at the Group’s sole discretion, in determining the lease term on a lease-by-lease basis. Lease expense is recognized on a straight-line basis over the lease term. The Group has an accounting policy election to exempt leases with an initial term of 12 months or less from being recognized on the balance sheet.

(o)

Foreign currency translation

The Group’s reporting and functional currency is Renminbi (“RMB”). The Group’s operations are principally conducted through the subsidiaries and the VIEs located in the PRC where the RMB is the functional currency. For those subsidiaries and the VIEs which are not located in the PRC and have the functional currency other than RMB, the financial statements are translated from their respective functional currencies into RMB.

Assets and liabilities of the Group’s overseas entities denominated in currencies other than the RMB are translated into RMB at the rates of exchange ruling at the balance sheet date. Equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as foreign currency translation adjustment and are shown as a separate component of other comprehensive income in the Condensed Consolidated Statements of Operations and Comprehensive Loss.

Translations of amounts from RMB into US$ are solely for the convenience of the reader and were calculated at the rate of US$1.00 = RMB6.8972 on December 31, 2022, representing the certificated exchange rate published by the Federal Reserve Board. No representation is intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2022, or at any other rate.

(p)

Segment reporting

The Group uses the management approach to determine operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Group’s CODM has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group.

The Group manages its business as a single operating segment engaged in the provision of distribution and managing wealth management services in the PRC. Substantially all of its revenues are derived in the PRC. All long-lived assets are located in PRC.

(q)

Earnings per share (“EPS”)

Basic EPS is calculated by dividing the net income (loss) available to common shareholders by the weighted average number of ordinary shares outstanding during the year. Diluted EPS is calculated by using the weighted average number of ordinary shares outstanding adjusted to include the potentially dilutive effect of outstanding share-based awards, unless their inclusion in the calculation is anti-dilutive.

(r)

Commitments and contingencies

The Group estimated losses from loss contingencies are accrued by a charge to income when information available before financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.

(s)

Recently issued accounting standards

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. The ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. This ASU has subsequently been amended by ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10, ASU 2019-11 and ASU 2020-03. The standard will replace today’s incurred loss approach with an expected loss model for instruments measured at amortized cost. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. This ASU is effective for public entities for annual and interim periods beginning after December 15, 2019, and effective for all other entities for annual and interim periods beginning after December 15, 2022. Early adoption is permitted for all entities for annual periods beginning after December 15, 2018, and interim periods therein. The Group is in the process of evaluating the impact of adoption of this guidance on its consolidated financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Group’s consolidated financial statements upon adoption.

Accounts Receivable, Net

6 Months Ended

Dec. 31, 2022

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

3. ACCOUNTS RECEIVABLE, NET

	June 30, 2022		December 31, 2022
	RMB		RMB		US$

Accounts receivable		66,399		60,737		8,806
Allowance for doubtful accounts		6,892		6,892		999
Accounts receivable, net		59,507		53,845		7,807

All of the accounts receivable are non-interest bearing.

Accounts receivable mainly represent amounts due from product providers and are recorded net of allowance for doubtful accounts. The Group considers many factors in assessing the collectability of its accounts receivable, such as the age of the amounts due, the product providers’ payment history, creditworthiness, financial conditions of the product providers and industry trend. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. The Group also makes specific allowance if there is strong evidence indicating that the accounts receivable is likely to be unrecoverable. Accounts receivable balances are written off after all collection efforts have been exhausted. The Group recorded allowance for doubtful accounts of RMB6,892 as of December 31, 2021 and 2022. No allowance for doubtful accounts were written off for the six months ended December 31, 2021 and 2022.

Other Receivables and Current Assets

6 Months Ended

Dec. 31, 2022

Other Receivables [Abstract]

OTHER RECEIVABLES AND CURRENT ASSETS

4. OTHER RECEIVABLES AND CURRENT ASSETS

Other receivables and current assets consist of the following:

	June 30, 2022		December 31, 2022
	RMB		RMB		US$

Advances to staff		855		899		130
Prepayments to service providers		5,252		4,105		595
Rental deposits		5,523		3,922		569
Income tax prepayments		2,666		-		-
Other		2		-		-
Other receivables and current assets		14,298		8,926		1,294

Short-Term Loans Receivable

6 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

SHORT-TERM LOANS RECEIVABLE

5. SHORT-TERM LOANS RECEIVABLE

As of December 31, 2022, the balance mainly represents loan principals of RMB100,000 to a real estate developing company which we have a good cooperation history. The loans have annual interest of 7.2%, and is expected to be fully repaid before June 30, 2023. The loan was guaranteed by the legal representative and the controlling shareholder of the real estate developing company.

The Company recognized interest income on short-term loans receivable of approximate RMB388 and RMB3,355 for the six months ended December 21, 2021 and 2022.

Property and Equipment, Net

6 Months Ended

Dec. 31, 2022

Property and Equipment, Net [Abstract]

PROPERTY AND EQUIPMENT, NET

6. PROPERTY AND EQUIPMENT, NET

Property and equipment, net, is comprised of the following:

	June 30, 2022			December 31, 2022
	RMB			RMB			US$

Furniture, office equipment, fixtures		5,151			5,219			757
Leasehold improvements		11,405			8,375			1,214
Motor vehicles		1,932			1,932			280
		18,488			15,526			2,251
Less: Accumulated depreciation		(9,332	)		(9,595	)		(1,391	)
Property and equipment, net		9,156			5,931			860

Depreciation expense for the six months ended December 31, 2021 and 2022 was RMB3,273 and RMB2,058, respectively. RMB3,667 of furniture, office equipment, fixtures and leasehold improvements have been eliminated from ending balance as of December 31, 2022, consisting of RMB1,872 of disposal of leasehold improvements due to termination of rental offices, such loss is included in operating expenses.

No impairment for property and equipment was recorded for the six months ended December 31, 2021 and 2022.

Leases

6 Months Ended

Dec. 31, 2022

Leases [Abstract]

LEASES

7. LEASES

The Group’s lease payments for office space leases include fixed rental payments and do not consist of any variable lease payments that depend on an index or a rate. As of June 30, 2022 and December 31, 2022, there was no leases that have not yet commenced.

The following represents the aggregate ROU assets and related lease liabilities as of June 30, 2022 and December 31, 2022:

	June 30, 2022		December 31, 2022
	RMB		RMB		US$
Right-of-use assets		34,382		24,556		3,560
Lease liabilities, current		11,889		8,857		1,284
Lease liabilities, non-current		23,259		17,587		2,550
Total operating lease liabilities		35,148		26,444		3,834

The weighted average lease term and weighted average discount rate as of June 30, 2022 and December 31, 2022 were as follows:

	June 30, 2022			December 31, 2022
Weighted average lease term:
Operating leases		3.31 years			3.09 years
Weighted average discount rate:
Operating leases		4.75	%		4.75	%

The components of lease expenses for the six months ended December 31, 2021 and 2022 were as follows:

	Six months ended December 31,
	2021		2022
	RMB		RMB		US$

Operating lease expenses		8,564		5,180		751
Short-term lease expenses		4,474		1,551		225
Total		13,038		6,731		976

Supplemental cash flow information related to leases for the six months ended December 31, 2022 were as follows:

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating lease		7,878			4,121			597
Supplement noncash information
New operating lease liabilities arose from obtaining right-of-use assets		25,362			2,975			431
Change on lease liabilities arose from modification on lease terms		-			(62	)		(9	)
Change on lease liabilities arose from early termination of operating leases		(9,848	)		(8,248	)		(1,196	)

Maturities of lease liabilities as of December 31, 2022:

	As of December 31, 2022
	RMB		US$
Year ending June 30:
2023		5,396		782
2024		8,332		1,208
2025		6,676		968
2026		6,530		947
Thereafter		1,751		254
Total remaining undiscounted lease payments		28,685		4,159
Less: Interest		2,241		325
Total present value of lease liabilities		26,444		3,834
Less: Current operating lease liabilities		8,857		1,284
Non-current operating lease liabilities		17,587		2,550

Investors' Deposit

6 Months Ended

Dec. 31, 2022

Statistical Disclosure for Banks [Abstract]

INVESTORS' DEPOSIT

8. INVESTORS’ DEPOSIT

The balance of RMB16,434 represents the investors’ uninvested cash balances temporarily deposited in the Group’s bank account. These cash balances were under the custody and supervision of the designated financial institution as required by China Securities Regulatory Commission, for the purpose of preventing misuse of investors’ funds.

Other Payables and Accrued Expenses

6 Months Ended

Dec. 31, 2022

Other Payables and Accrued Expenses [Abstract]

OTHER PAYABLES AND ACCRUED EXPENSES

9. OTHER PAYABLES AND ACCRUED EXPENSES

Components of other payables and accrued expenses are as follows:

	June 30, 2022			December 31, 2022
	RMB			RMB			US$

Payroll payable		13,844			17,780			2,578
Accrued expenses		3,924			3,203			464
Value-added tax recoverable		(700	)		(416	)		(60	)
Employee’s individual income tax		407			459			67
Others		1,970			1,503			217
Other payables and accrued expenses		19,445			22,529			3,266

Accrued expenses mainly consisted of accrued marketing and sales promotion expenses for activities on publicly raised fund products.

Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded as VAT payable if output VAT is larger than input VAT and is recorded as VAT recoverable if input VAT is larger than output VAT.

Sundry Income

6 Months Ended

Dec. 31, 2022

Sundry Income, Net [Abstract]

SUNDRY INCOME

10. SUNDRY INCOME

Components of sundry income are as follows:

	Six months ended December 31,
	2021		2022
	RMB		RMB		US$

Government grants		1,673		679		99
Others		1		44		6
Total sundry income		1,674		723		105

Government grants were recognized as sundry income when received upon the compliance with the conditions, and primarily represented subsidies received from the local governments as reward for financial contribution and capital expenditure incurred on certain projects.

Income Taxes

6 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

11. INCOME TAXES

The Group and its subsidiaries, and the VIEs file tax returns separately.

Cayman Islands

The Group is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Group is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands.

British Virgin Islands

The Group’s subsidiary incorporated in the BVI is not subject to taxation.

Hong Kong

On March 21, 2018, the Hong Kong Legislative Council passed The Inland Revenue (Amendment) (No. 7) Bill 2017 (the “Bill”) which introduces the two-tiered profits tax rates regime. The Bill was signed into law on March 28, 2018 and was gazette on the following day. Under the two-tiered profits tax rates regime, the first 2 million Hong Kong Dollar (“HKD”) of profits of the qualifying group entity will be taxed at 8.25%, and profits above HKD2 million will be taxed at 16.5%.

PRC

The Group’s subsidiary and the VIEs incorporated in PRC are subject to PRC Enterprise Income Tax (“EIT”) law. Pursuant to the relevant laws and regulations in the PRC, beginning from January 1, 2020, Puyi Bohui has been qualified for west development taxation preference and subject to an income tax rate of 15%. Puyi Zhongxiang is qualified for Shenzhen Qianhai modern services cooperation district entity tax preference and is subject to an income tax rate of 15%. Chongqing Fengyi and Puyi Consulting are qualified for west development taxation preference and are subject to an income tax rate of 15%. Dake has been regarded as an accredited software company since June 2021, and thus enjoys preferential tax treatments, including being exempted from PRC Income Tax for two years starting from its first profit-making year, followed by a 50% reduction for the next three years. As Dake had a loss in the calendar year 2022, it is exempted for income tax for the six months ended December 31, 2022. Puyi FO and other PRC subsidiaries are subject to a standard 25% EIT.

The components of the income tax benefit are as follows:

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$

Current		564			746			108
Deferred		(3,985	)		(2,425	)		(351	)
Total income tax benefit		(3,421	)		(1,679	)		(243	)

The principal components of the deferred income tax assets and liabilities are as follows:

	June 30, 2022		December 31, 2022
	RMB		RMB		US$
Deferred tax assets:
Tax loss carry forward		28,314		24,991		3,622
Allowance for doubtful accounts, credit losses and impairment losses		1,723		1,723		250
Other temporary book/tax differences		-		6,041		876
Subtotal		30,037		32,755		4,748
Less: valuation allowances		6,059		6,353		920
Total		23,978		26,403		3,828

The Group considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will more-likely-than-not be realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carry forward periods, the Group’s experience with tax attributes expiring unused and tax planning alternatives. Valuation allowances have been established for deferred tax assets based on a more-likely-than-not threshold. The Group’s ability to realize deferred tax assets depends on its ability to generate sufficient taxable income within the carry forward periods provided for in the tax law.

The Group had total tax loss carry-forwards of RMB184,258 and RMB184,801 as of June 30, 2022 and December 31, 2022, respectively. As of December 31, 2022, the tax loss carry-forwards will expire between the calendar years 2023 through 2027. For the six months ended December 31, 2021 and 2022, there was no tax loss carried forward expired and canceled.

Reconciliation between the statutory tax rate to income before income taxes and the actual provision for income taxes is as follows:

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$

Income (loss) from operations before income taxes		(42,665	)		(33,133	)		(4,804	)
PRC income tax statutory rate		25	%		25	%		25	%
Income tax expense (benefit) at statutory tax rate		(10,666	)		(8,283	)		(1,201	)
Preferential tax treatments		3,966			3,513			509
Expenses not deductible for tax purposes		421			330			48
Uncertain tax provision		500			-			-
Temporary book/tax differences		-			2,286			332
Reversal of previously-recognized DTA due to changes in applicable tax rate		768			-			-
Impact of different tax rates in other jurisdictions		141			48			7
Others		197			133			19
Valuation allowances		1,252			294			43
Income tax expense (benefit)		(3,421	)		(1,679	)		(243	)

The current PRC EIT Law imposes a 10% withholding income tax for dividends distributed by foreign invested enterprises to their immediate holding companies outside the PRC. A lower withholding tax rate will be applied if there is a tax treaty arrangement between the PRC and the jurisdiction of the foreign holding company. Distributions to holding companies in Hong Kong that satisfy certain requirements specified by PRC tax authorities, for example, will be subject to a 5% withholding tax rate.

As of December 31, 2021 and 2022, the Group had not recorded any withholding tax on the retained earnings of its foreign invested enterprises in the PRC, since the Group intends to reinvest its earnings to further expand its business in mainland China, and its foreign invested enterprises do not intend to declare dividends to their immediate foreign holding companies.

The Group analyzes its uncertain income tax positions concerning transfer pricing on a regular basis, which were primarily concerned with sales activities conducted among the subsidiaries and the VIEs that had different income tax rates (ranging from nil to 25%) and the amount of taxes that could have been paid additionally, in aggregation, had those sales activities were conducted among subsidiaries and the VIEs without any preferential income tax rates. When such potential impact is identified, the Group recognizes 100% of the calculated income tax exposure as an income tax expense and other tax liabilities.

The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of June 30, 2022 and December 31, 2022 the Group had RMB13,500 of unrecognized tax benefits that if recognized would affect the annual effective tax rate. We recognize interest accrued related to unrecognized tax benefits and penalties as income tax expense. For the six months ended December 31, 2021 and 2022, the Group recognized no interest or penalty expense related to unrecognized tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Loss Per Share

6 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

LOSS PER SHARE

12. LOSS PER SHARE

The computation of basic and diluted net loss per ordinary share is as follows:

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$
Numerator:
Net loss		(39,244	)		(31,454	)		(4,561	)

Denominator:
Weighted average number of ordinary shares outstanding		90,472,014			90,472,014			90,472,014

Basic & diluted net loss per ordinary share		(0.434	)		(0.348	)		(0.050	)

Condensed Financial Statements of the Company

6 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

CONDENSED FINANCIAL STATEMENTS OF THE COMPANY

13. CONDENSED FINANCIAL STATEMENTS OF THE COMPANY

The condensed financial information of the Company has been prepared in accordance with SEC Regulation S-X Rule 5-04 and Rule 12-04, using the same accounting policies as set out in the Group’s consolidated financial statements, except that the Company uses the equity method to account for investments in its subsidiaries and the VIEs. The Company was in control of its subsidiaries and the primary beneficiary of the VIEs throughout the periods presented.

Condensed Statements of Financial Position

	June 30, 2022			December 31, 2022
	RMB			RMB			US$

ASSETS:
Current assets:
Cash and cash equivalents		11,732			11,172			1,620
Amounts due from other subsidiaries		77			80			12
Total current assets		11,809			11,252			1,632
Investments in subsidiaries		248,459			217,696			31,562
Total assets		260,268			228,948			33,194

LIABILITIES AND EQUITY:
LIABILITIES:
Current liabilities:
Other payables and accrued expenses		217			-			-
Total current liabilities		217			-			-
Total liabilities		217			-			-

Commitments and contingencies
EQUITY:
Ordinary shares (2,000,000,000 shares at US$0.001 each authorized, and 90,472,014 shares issued and outstanding as of June 30, 2022 and December 31, 2022)		600			600			87
Additional paid-in capital		224,694			224,694			32,578
Retained earnings		35,150			3,696			535
Accumulated other comprehensive income		(393	)		(42	)		(6	)
Total equity		260,051			228,948			33,194
Total liabilities and equity		260,268			228,948			33,194

Condensed Statements of Operations and Comprehensive Loss

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$

General and administrative expenses		(398	)		(935	)		(136	)
Other income, net		18			245			36
Equity in loss of subsidiaries		(38,805	)		(30,763	)		(4,460	)
Loss before income taxes		(39,185	)		(31,453	)		(4,560	)
Income tax expense		(64	)		(1	)		-
Net loss		(39,249	)		(31,454	)		(4,560	)
Other comprehensive income (loss), net of tax: Foreign currency translation adjustments		(160	)		351			51
Total Comprehensive loss		(39,409	)		(31,103	)		(4,509	)

Related Party Transactions

6 Months Ended

Dec. 31, 2022

RELATED PARTY TRANSACTIONS

14. RELATED PARTY TRANSACTIONS

The following is a list of the related parties with whom the Group conducted significant transactions, and their relationship with the Group:

Related parties		Relationship
Fanhua Inc. (“Fanhua”)		Shareholder of Puyi since September 2018 who has approximately 4.5% of Puyi and shares a common director with the Group.
Fanhua Lianxing Insurance Sales Co., Ltd. (“Fanhua Lianxing”)		Subsidiary of Fanhua Inc.
Fanhua Yuntong Enterprise Management Advisory (Shenzhen) Co., Ltd. (“Fanhua Yuntong”)		Subsidiary of Fanhua Inc.

Related party transactions:

	Note	Six months ended December 31,
		2021		2022
		RMB		RMB			US$
Other services
Insurance consulting service income accrued from Fanhua Lianxing	a		3,312		6,497			942
Insurance consulting service income received from Fanhua Lianxing	a		2,320		6,449			935
Trust consulting service income accrued from Fanhua Lianxing	b		-		5,643			818
Trust consulting service income received from Fanhua Lianxing	b		-		54			8

Selling expense
Promotion expense accrued and adjusted to Fanhua Yuntong	c		355		(55	)		(8	)
Promotion expense paid to Fanhua Yuntong	c		141		175			25

Notes:

(a)	Starting from January 2021, the Group has cooperated with Fanhua Lianxing to provide insurance consulting service.

(b)	Starting from January 2022, the Group has cooperated with Fanhua Lianxing to provide trust consulting service.

(c)	Starting from August 2021, the Group has cooperated with Fanhua Yuntong and Fanhua Yuntong has provided client referral service to us.

Amounts due from related parties:

	Note	June 30, 2022		December 31, 2022
		RMB		RMB		US$

Fanhua Lianxing	a		2,895		7,761		1,125
Total			2,895		7,761		1,125

Advance receipts from related parties:

	Note	June 30, 2022			December 31, 2022
		RMB			RMB		US$

Fanhua Lianxing	b		(1,500	)		-		-
Total			(1,500	)		-		-

Amount due to related parties:

	Note	June 30, 2022			December 31, 2022
		RMB			RMB			US$

Fanhua Yuntong	c		(292	)		(236	)		(34	)
Total			(292	)		(236	)		(34	)

Statutory Reserve

6 Months Ended

Dec. 31, 2022

Statutory Reserve [Abstract]

STATUTORY RESERVE

15. STATUTORY RESERVE

Subsidiaries and the VIEs operate in the PRC are required to reserve 10% of their net profits after income tax, as determined in accordance with the PRC accounting rules and regulations. Appropriation to the statutory reserve by the Group is based on profit arrived at under PRC accounting standards for business enterprises for each year.

The profit arrived at must be set off against any accumulated losses sustained by the Group in prior years, before allocation is made to the statutory reserve. Appropriation to the statutory reserve must be made before distribution of dividends to shareholders. The appropriation is required until the statutory reserve reaches 50% of the registered capital. This statutory reserve is not distributable in the form of cash dividends. As of June 30, 2022 and December 31, 2022, the balance of statutory reserve was RMB23,314.

Contingencies

6 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCIES

16. CONTINGENCIES

In the ordinary course of business, the Group may be subject to legal proceeding regarding contractual and employment relationships and a variety of other matters. The Group records contingent liabilities resulting from such claims, when a loss is assessed to be probable and the amount of the loss is reasonably estimable.

The Group has no significant pending litigation as of issuance date of the condensed financial statements.

Impact of Covid-19

6 Months Ended

Dec. 31, 2022

Impact of Covid-19 [Abstract]

IMPACT OF COVID-19

17. IMPACT OF COVID-19

The COVID-19 has broadly affected China’s and the global economy since its outbreak in late 2019. In response, China imposed widespread lockdowns, closure of work places and restrictions on mobility and travel to contain the spread of the virus, therefore our results of operations and financial performance have been adversely affected. Many of the above restrictive measures previously adopted by the PRC governments at various levels to control the spread of the COVID-19 virus have been revoked or replaced with more flexible measures since December 2022. While the revocation or replacement of the restrictive measures to contain the COVID-19 pandemic could have a positive impact on our normal operations, it also led to the recent surge in COVID-19 cases in China, and as a result, we experienced temporary impact to our operations when some employees were infected with COVID-19 in December 2022. To the extent that future waves of COVID-19 disrupt normal business operations in China, we may face operational challenges with our services, and we likely will have to adopt similar remote work arrangements and other measures to minimize such impact. Moreover, any decline in the individual disposable income and investors’ willingness to invest in wealth management products due to a worsening economic performance and outlook as a result of the COVID-19 pandemic may also lessen demands for our services. There remains uncertainty as to the future impact of the virus, especially in light of this change in policy. We cannot be assured that more lockdowns and other restrictive measures will not be implanted in the future if new COVID-19 variants emerge. The extent to which the COVID-19 pandemic impacts our results of operations and financial performance will depend on future developments, which are highly uncertain, including the possibility that COVID-19 may exert long-term negative impact on China’s economy.

Subsequent Events

6 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

18. SUBSEQUENT EVENTS

The Group has evaluated subsequent events through the issuance of the condensed consolidated financial statements and no subsequent event has been identified that would have required adjustment or disclosure in the condensed consolidated financial statements.

Accounting Policies, by Policy (Policies)

6 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of presentation and consolidation

(a)

Basis of presentation and consolidation

Use of estimates

(b)

Use of estimates

Cash and cash equivalents

(c)

Cash and cash equivalents

Restricted cash

(d)

Restricted cash

Accounts receivable, other receivables and current assets, and amount due from related parties, net

(e)

Accounts receivable, other receivables and current assets, and amount due from related parties, net

Investments

(f)

Short-term loans receivable

The Group recognized interest income on an accrual basis using the straight-line method over the fixed or determinable dates.

Property and equipment, net

(g)

Property and equipment, net

Depreciation and amortization are calculated using the straight-line method over the following estimated useful lives, without residual value:

		Estimated useful life
Office equipment, furniture, fixtures		3-5 years
Motor vehicles		3-5 years
Leasehold improvements		Shorter of the remaining lease terms and estimated useful lives

Impairment of long-lived assets

(h)

Impairment of long-lived assets

Revenue recognition

(i)

Revenue recognition

The Group generates revenues mainly from wealth management, and the Group started to generate revenues from asset management since April 2018 and insurance consulting service since January 2021.

Disaggregation of revenue

	Six months ended December 31,
	2021		2022
	RMB		RMB

Wealth management		94,232		53,546
Distribution commissions		91,208		51,782
-- One-time commissions recognized at a point in time		44,899		16,247
-- Recurring management fees recognized over time		46,309		35,535
Performance-based distribution fees recognized at a point in time		3,024		1,764
Asset management		3,704		1,161
Management fees recognized over time		1,926		1,085
Performance-based fees recognized at a point in time		1,778		76
Insurance consulting services recognized at a point in time		3,290		6,999
Other services⁽¹⁾		261		6,723
Total		101,486		68,429

(1)	Other services primarily consist of consulting services for trust and family wealth inheritance recognized at a point in time.

Contract liability

Cost of sales

(j)

Cost of sales

Income taxes

(k)

Income taxes

Uncertain tax positions

(l)

Uncertain tax positions

Fair value of financial instruments

(m)

Fair value of financial instruments

Level 1	applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2	applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3	applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Leases

(n)

Leases

The Group applies Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) when accounting for leases.

Foreign currency translation

(o)

Foreign currency translation

Segment reporting

(p)

Segment reporting

Earnings per share (“EPS”)

(q)

Earnings per share (“EPS”)

Commitments and contingencies

(r)

Commitments and contingencies

Recently issued accounting standards

(s)

Recently issued accounting standards

Organization and Principal Activities (Tables)

6 Months Ended

Dec. 31, 2022

Organization and Principal Activities [Abstract]

Schedule of subsidiaries and VIE

Name	Date of incorporation/ acquired	Place of incorporation	Percentage of effective ownership	Principal Activities
Wholly owned subsidiaries
Puyi Group	July 2018	BVI	100%	Holding company
Puyi Holdings (Hong Kong) Limited (“Puyi HK”)	July 2018	Hong Kong	100%	Holding company
Puyi Enterprises Management Consulting Co., Ltd. (“Puyi Consulting” or the Wholly Foreign-Owned Enterprise “WFOE”)	August 2018	Chengdu	100%	WFOE
Puyi Dake	May 2020	Chengdu	100%	Information technology
Puyi FO	May 2022	Zhuhai	100%	Trust consulting
Variable Interest Entities (“VIEs”)
Puyi Bohui	April 2012	Chengdu	100%	Information technology
Puyi Fund	November 2010	Chengdu	100%	Fund product distribution
Puyi Zhongxiang	April 2014	Shenzhen	100%	Financial product distribution
Puyi Asset	May 2013	Shenzhen	100%	Asset management
Chongqing Fengyi	December 2016	Chongqing	100%	Corporate financing business

Schedule of financial statements amounts and balances of the VIE

	June 30, 2022
	Parent		VIEs		WFOEs		Other subsidiaries		Eliminating adjustments			Consolidated totals
Cash and cash equivalents		11,732		123,276		58,647		604		-			194,259
Restricted cash		-		118,796		-		-		-			118,796
Inter-group balance due from VIEs and subsidiaries		77		20,000		46,029		-		(66,106	)		-
Investments in subsidiaries		248,459		-		-		-		(248,459	)		-
Other assets		-		91,869		59,012		-		-			150,881
Total assets		260,268		353,941		163,688		604		(314,565	)		463,936
Inter-group balance due to VIEs and subsidiaries		-		46,008		20,000		21		(66,029	)		-
Inter-group balance due to parent		-		-		-		77		(77	)		-
Other liabilities		217		181,959		21,709		-		-			203,885
Total liabilities		217		227,967		41,709		98		(66,106	)		203,885
Total equity		260,051		125,974		121,979		506		(248,459	)		260,051

	December 31, 2022
	Parent		VIEs		WFOEs		Other subsidiaries		Eliminating adjustments			Consolidated totals
Cash and cash equivalents		11,172		42,943		20,473		645		-			75,233
Restricted cash		-		16,434		-		-		-			16,434
Inter-group balance due from VIEs and subsidiaries		80		37,950		47,121		-		(85,151	)		-
Investments in subsidiaries		217,696		-		-		-		(217,696	)		-
Other assets		-		122,218		109,957		460		-			232,635
Total assets		228,948		219,545		177,551		1,105		(302,847	)		324,302
Inter-group balance due to VIEs and subsidiaries		-		47,100		37,950		21		(85,071	)		-
Inter-group balance due to parent		-		-		-		80		(80	)		-
Other liabilities		-		75,988		19,366		-		-			95,354
Total liabilities		-		123,088		57,316		101		(85,151	)		95,354
Total equity		228,948		96,457		120,235		1,004		(217,696	)		228,948

Schedule of condensed consolidating schedule of results of operations

	Six months ended December 31, 2021
	Parent			VIEs			WFOEs			Other subsidiaries			Eliminating adjustments			Consolidated totals
Revenues		-			89,381			23,670			-			(11,565	)		101,486
Cost of revenues		-			(31,312	)		(2,317	)		-			11,565			(22,064	)
Operating expenses		(398	)		(86,701	)		(41,053	)		(185	)		488			(127,849	)
Loss from operations		(398	)		(28,632	)		(19,700	)		(185	)		488			(48,427	)
Other income, net		18			2,390			3,838			-			(484	)		5,762
Share of loss from subsidiaries		(38,805	)		-			-			-			38,805			-
Loss before income taxes		(39,185	)		(26,242	)		(15,862	)		(185	)		38,809			(42,665	)
Income tax (expense) benefit		(64	)		3,735			(250	)		-			-			3,421
Net loss		(39,249	)		(22,507	)		(16,112	)		(185	)		38,809			(39,244	)

	Six months ended December 31, 2022
	Parent			VIEs			WFOEs			Other subsidiaries			Eliminating adjustments			Consolidated totals
Revenues		-			46,576			33,758			502			(12,407	)		68,429
Cost of revenues		-			(19,737	)		(6,201	)		-			11,346			(14,601	)
Operating expenses		(935	)		(62,139	)		(30,553	)		(9	)		1,549			(92,087	)
Loss from operations		(935	)		(35,300	)		(3,005	)		493			488			(38,259	)
Other income, net		245			2,864			2,500			5			(488	)		5,126
Share of loss from subsidiaries		(30,763	)		-			-			-			30,763			-
Loss before income taxes		(31,453	)		(32,436	)		(505	)		498			30,763			(33,133	)
Income tax (expense) benefit		(1	)		2,919			(1,239	)		-			-			1,679
Net loss		(31,454	)		(29,517	)		(1,744	)		498			30,763			(31,454	)

Schedule of condensed consolidating schedule of cash flows

	Six months ended December 31, 2021
	Parent			VIEs			WFOEs			Other subsidiaries			Eliminating adjustments		Consolidated totals
Net cash provided by (used in) operating activities		(844	)		42,322			(50,607	)		(172	)		-		(9,301	)
Net cash used in investing activities		-			(7,627	)		(732	)		-			-		(8,359	)
Net cash provided by (used in) financing activities		-			-			-			-			-		-
Net increase (decrease) in cash and cash equivalents, and restricted cash		(844	)		34,695			(51,339	)		(172	)		-		(17,660	)
Cash and cash equivalents, and restricted cash at the beginning of year		12,770			198,842			120,422			748			-		332,782
Effect of exchange rate changes on cash and cash equivalents		(160	)		-			-			-			-		(160	)
Cash and cash equivalents, and restricted cash at the end of year		11,766			233,537			69,083			576			-		314,962

	Six months ended December 31, 2022
	Parent			VIEs			WFOEs			Other subsidiaries		Eliminating adjustments		Consolidated totals
Net cash provided by (used in) operating activities		(911	)		(136,477	)		11,863			41		-		(125,484	)
Net cash used in investing activities		-			(46,218	)		(50,037	)		-		-		(96,255	)
Net cash provided by (used in) financing activities		-			-			-			-		-		-
Net increase (decrease) in cash and cash equivalents, and restricted cash		(911	)		(182,695	)		(38,174	)		41		-		(221,739	)
Cash and cash equivalents, and restricted cash at the beginning of year		11,732			242,072			58,647			604		-		313,055
Effect of exchange rate changes on cash and cash equivalents		351			-			-			-		-		351
Cash and cash equivalents, and restricted cash at the end of year		11,172			59,377			20,473			645		-		91,667

Schedule of subsidiaries and the VIEs conduct business transactions that primarily include wealth management services and asset management services.

	Six months ended December 31,
	2021		2022
	RMB		RMB		US$
Cash paid by the VIEs to equity-owned subsidiary Puyi Consulting for consulting services		10,459		10,478		1,519
Cash paid by the VIEs to equity-owned subsidiary Puyi Dake for technical services		-		2,850		413
Cash paid by the VIEs to equity-owned subsidiary Puyi Consulting for office rental and other services		607		532		77
Cash paid by equity-owned subsidiary Puyi Consulting to the VIEs for digital marketing and IT related services		2,400		-		-
Intercompany advances from equity owned subsidiaries to the VIEs		44,435		3,290		477
Repayment of intercompany advances by the VIEs		59,965		2,198		319
Intercompany advances from the VIEs to equity owned subsidiaries		63,288		42,880		6,217
Repayment of intercompany advances by equity owned subsidiaries		107,688		24,930		3,615

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of estimated useful lives

		Estimated useful life
Office equipment, furniture, fixtures		3-5 years
Motor vehicles		3-5 years
Leasehold improvements		Shorter of the remaining lease terms and estimated useful lives

(h)

Impairment of long-lived assets

(i)

Revenue recognition

Schedule of disaggregation of revenue

	Six months ended December 31,
	2021		2022
	RMB		RMB

Wealth management		94,232		53,546
Distribution commissions		91,208		51,782
-- One-time commissions recognized at a point in time		44,899		16,247
-- Recurring management fees recognized over time		46,309		35,535
Performance-based distribution fees recognized at a point in time		3,024		1,764
Asset management		3,704		1,161
Management fees recognized over time		1,926		1,085
Performance-based fees recognized at a point in time		1,778		76
Insurance consulting services recognized at a point in time		3,290		6,999
Other services⁽¹⁾		261		6,723
Total		101,486		68,429

(1)	Other services primarily consist of consulting services for trust and family wealth inheritance recognized at a point in time.

Accounts Receivable, Net (Tables)

6 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Schedule of accounts receivable

	June 30, 2022		December 31, 2022
	RMB		RMB		US$

Accounts receivable		66,399		60,737		8,806
Allowance for doubtful accounts		6,892		6,892		999
Accounts receivable, net		59,507		53,845		7,807

Other Receivables and Current Assets (Tables)

6 Months Ended

Dec. 31, 2022

Other Receivables [Abstract]

Schedule of other receivables and current assets

	June 30, 2022		December 31, 2022
	RMB		RMB		US$

Advances to staff		855		899		130
Prepayments to service providers		5,252		4,105		595
Rental deposits		5,523		3,922		569
Income tax prepayments		2,666		-		-
Other		2		-		-
Other receivables and current assets		14,298		8,926		1,294

Property and Equipment, Net (Tables)

6 Months Ended

Dec. 31, 2022

Property and Equipment, Net [Abstract]

Schedule of property and equipment, net

	June 30, 2022			December 31, 2022
	RMB			RMB			US$

Furniture, office equipment, fixtures		5,151			5,219			757
Leasehold improvements		11,405			8,375			1,214
Motor vehicles		1,932			1,932			280
		18,488			15,526			2,251
Less: Accumulated depreciation		(9,332	)		(9,595	)		(1,391	)
Property and equipment, net		9,156			5,931			860

Leases (Tables)

6 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of ROU assets and related lease liabilities

	June 30, 2022		December 31, 2022
	RMB		RMB		US$
Right-of-use assets		34,382		24,556		3,560
Lease liabilities, current		11,889		8,857		1,284
Lease liabilities, non-current		23,259		17,587		2,550
Total operating lease liabilities		35,148		26,444		3,834

Schedule of weighted average lease term and weighted average discount rate

	June 30, 2022			December 31, 2022
Weighted average lease term:
Operating leases		3.31 years			3.09 years
Weighted average discount rate:
Operating leases		4.75	%		4.75	%

Schedule of lease expenses

	Six months ended December 31,
	2021		2022
	RMB		RMB		US$

Operating lease expenses		8,564		5,180		751
Short-term lease expenses		4,474		1,551		225
Total		13,038		6,731		976

Schedule of supplemental cash flow information related to leases

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating lease		7,878			4,121			597
Supplement noncash information
New operating lease liabilities arose from obtaining right-of-use assets		25,362			2,975			431
Change on lease liabilities arose from modification on lease terms		-			(62	)		(9	)
Change on lease liabilities arose from early termination of operating leases		(9,848	)		(8,248	)		(1,196	)

Schedule of maturities of lease liabilities

	As of December 31, 2022
	RMB		US$
Year ending June 30:
2023		5,396		782
2024		8,332		1,208
2025		6,676		968
2026		6,530		947
Thereafter		1,751		254
Total remaining undiscounted lease payments		28,685		4,159
Less: Interest		2,241		325
Total present value of lease liabilities		26,444		3,834
Less: Current operating lease liabilities		8,857		1,284
Non-current operating lease liabilities		17,587		2,550

Other Payables and Accrued Expenses (Tables)

6 Months Ended

Dec. 31, 2022

Other Payables and Accrued Expenses [Abstract]

Schedule of components of other payables and accrued expenses

	June 30, 2022			December 31, 2022
	RMB			RMB			US$

Payroll payable		13,844			17,780			2,578
Accrued expenses		3,924			3,203			464
Value-added tax recoverable		(700	)		(416	)		(60	)
Employee’s individual income tax		407			459			67
Others		1,970			1,503			217
Other payables and accrued expenses		19,445			22,529			3,266

Sundry Income (Tables)

6 Months Ended

Dec. 31, 2022

Sundry Income, Net [Abstract]

Schedule of components of sundry income

	Six months ended December 31,
	2021		2022
	RMB		RMB		US$

Government grants		1,673		679		99
Others		1		44		6
Total sundry income		1,674		723		105

Income Taxes (Tables)

6 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of components of the income tax provision

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$

Current		564			746			108
Deferred		(3,985	)		(2,425	)		(351	)
Total income tax benefit		(3,421	)		(1,679	)		(243	)

Schedule of components of the deferred income tax assets and liabilities

	June 30, 2022		December 31, 2022
	RMB		RMB		US$
Deferred tax assets:
Tax loss carry forward		28,314		24,991		3,622
Allowance for doubtful accounts, credit losses and impairment losses		1,723		1,723		250
Other temporary book/tax differences		-		6,041		876
Subtotal		30,037		32,755		4,748
Less: valuation allowances		6,059		6,353		920
Total		23,978		26,403		3,828

Schedule of reconciliation between the statutory tax rate to income before income taxes

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$

Income (loss) from operations before income taxes		(42,665	)		(33,133	)		(4,804	)
PRC income tax statutory rate		25	%		25	%		25	%
Income tax expense (benefit) at statutory tax rate		(10,666	)		(8,283	)		(1,201	)
Preferential tax treatments		3,966			3,513			509
Expenses not deductible for tax purposes		421			330			48
Uncertain tax provision		500			-			-
Temporary book/tax differences		-			2,286			332
Reversal of previously-recognized DTA due to changes in applicable tax rate		768			-			-
Impact of different tax rates in other jurisdictions		141			48			7
Others		197			133			19
Valuation allowances		1,252			294			43
Income tax expense (benefit)		(3,421	)		(1,679	)		(243	)

Loss Per Share (Tables)

6 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of basic and diluted net income (loss) per ordinary share

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$
Numerator:
Net loss		(39,244	)		(31,454	)		(4,561	)

Denominator:
Weighted average number of ordinary shares outstanding		90,472,014			90,472,014			90,472,014

Basic & diluted net loss per ordinary share		(0.434	)		(0.348	)		(0.050	)

Condensed Financial Statements of the Company (Tables)

6 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of condensed statements of financial position

	June 30, 2022			December 31, 2022
	RMB			RMB			US$

ASSETS:
Current assets:
Cash and cash equivalents		11,732			11,172			1,620
Amounts due from other subsidiaries		77			80			12
Total current assets		11,809			11,252			1,632
Investments in subsidiaries		248,459			217,696			31,562
Total assets		260,268			228,948			33,194

LIABILITIES AND EQUITY:
LIABILITIES:
Current liabilities:
Other payables and accrued expenses		217			-			-
Total current liabilities		217			-			-
Total liabilities		217			-			-

Commitments and contingencies
EQUITY:
Ordinary shares (2,000,000,000 shares at US$0.001 each authorized, and 90,472,014 shares issued and outstanding as of June 30, 2022 and December 31, 2022)		600			600			87
Additional paid-in capital		224,694			224,694			32,578
Retained earnings		35,150			3,696			535
Accumulated other comprehensive income		(393	)		(42	)		(6	)
Total equity		260,051			228,948			33,194
Total liabilities and equity		260,268			228,948			33,194

Schedule of condensed statements of operations and comprehensive income (loss)

	Six months ended December 31,
	2021			2022
	RMB			RMB			US$

General and administrative expenses		(398	)		(935	)		(136	)
Other income, net		18			245			36
Equity in loss of subsidiaries		(38,805	)		(30,763	)		(4,460	)
Loss before income taxes		(39,185	)		(31,453	)		(4,560	)
Income tax expense		(64	)		(1	)		-
Net loss		(39,249	)		(31,454	)		(4,560	)
Other comprehensive income (loss), net of tax: Foreign currency translation adjustments		(160	)		351			51
Total Comprehensive loss		(39,409	)		(31,103	)		(4,509	)

Related Party Transactions (Tables)

6 Months Ended

Dec. 31, 2022

Related parties		Relationship
Fanhua Inc. (“Fanhua”)		Shareholder of Puyi since September 2018 who has approximately 4.5% of Puyi and shares a common director with the Group.
Fanhua Lianxing Insurance Sales Co., Ltd. (“Fanhua Lianxing”)		Subsidiary of Fanhua Inc.
Fanhua Yuntong Enterprise Management Advisory (Shenzhen) Co., Ltd. (“Fanhua Yuntong”)		Subsidiary of Fanhua Inc.

Schedule of related party transactions

	Note	Six months ended December 31,
		2021		2022
		RMB		RMB			US$
Other services
Insurance consulting service income accrued from Fanhua Lianxing	a		3,312		6,497			942
Insurance consulting service income received from Fanhua Lianxing	a		2,320		6,449			935
Trust consulting service income accrued from Fanhua Lianxing	b		-		5,643			818
Trust consulting service income received from Fanhua Lianxing	b		-		54			8

Selling expense
Promotion expense accrued and adjusted to Fanhua Yuntong	c		355		(55	)		(8	)
Promotion expense paid to Fanhua Yuntong	c		141		175			25

(a)	Starting from January 2021, the Group has cooperated with Fanhua Lianxing to provide insurance consulting service.

(b)	Starting from January 2022, the Group has cooperated with Fanhua Lianxing to provide trust consulting service.

(c)	Starting from August 2021, the Group has cooperated with Fanhua Yuntong and Fanhua Yuntong has provided client referral service to us.

Schedule of amounts due from related parties

	Note	June 30, 2022		December 31, 2022
		RMB		RMB		US$

Fanhua Lianxing	a		2,895		7,761		1,125
Total			2,895		7,761		1,125

	Note	June 30, 2022			December 31, 2022
		RMB			RMB		US$

Fanhua Lianxing	b		(1,500	)		-		-
Total			(1,500	)		-		-

	Note	June 30, 2022			December 31, 2022
		RMB			RMB			US$

Fanhua Yuntong	c		(292	)		(236	)		(34	)
Total			(292	)		(236	)		(34	)

Organization and Principal Activities (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Aug. 06, 2018
Organization and Principal Activities (Details) [Line Items]
Subsidiaries and VIE description	cash received by the VIEs from our subsidiaries as inter-company advances of RMB44,435 and RMB3,290 for the six months ended December 31, 2021 and 2022, respectively; (6) repayment of inter-company advances by the VIEs to our subsidiaries of RMB59,965 and RMB2,198 for the six months ended December 31, 2021 and 2022, respectively; (7) cash received by our subsidiaries from the VIEs as inter-company advances of RMB63,288 and RMB42,880 for the six months ended December 31, 2021 and 2022, respectively; and (8) repayment of inter-company advances by our subsidiaries to the VIEs of RMB107,688 and RMB24,930 for the six months ended December 31, 2021 and 2022, respectively.
Maximum [Member]
Organization and Principal Activities (Details) [Line Items]
Investable assets			¥ 30
Minimum [Member]
Organization and Principal Activities (Details) [Line Items]
Investable assets			¥ 600
VIE [Member]
Organization and Principal Activities (Details) [Line Items]
Provision of consulting services	¥ 10,459	¥ 10,478
Cash received	2,850
Provision of office rental and other services	607	532
Provision of digital marketing and IT related services	¥ 2,400

Organization and Principal Activities (Details) - Schedule of subsidiaries and VIE	6 Months Ended
	Dec. 31, 2022
Puyi Group [Member] \| Wholly owned subsidiaries [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	July 2018
Place of incorporation	BVI
Percentage of effective ownership	100.00%
Principal Activities	Holding company
Puyi Holdings (Hong Kong) Limited (“Puyi HK”) [Member] \| Wholly owned subsidiaries [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	July 2018
Place of incorporation	Hong Kong
Percentage of effective ownership	100.00%
Principal Activities	Holding company
Puyi Enterprises Management Consulting Co., Ltd. (“Puyi Consulting” or the Wholly Foreign-Owned Enterprise “WFOE”) [Member] \| Wholly owned subsidiaries [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	August 2018
Place of incorporation	Chengdu
Percentage of effective ownership	100.00%
Principal Activities	WFOE
Puyi Dake [Member] \| Wholly owned subsidiaries [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	May 2020
Place of incorporation	Chengdu
Percentage of effective ownership	100.00%
Principal Activities	Information technology
Puyi FO [Member] \| Wholly owned subsidiaries [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	May 2022
Place of incorporation	Zhuhai
Percentage of effective ownership	100.00%
Principal Activities	Trust consulting
Puyi Bohui [Member] \| Variable Interest Entities [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	April 2012
Place of incorporation	Chengdu
Percentage of effective ownership	100.00%
Principal Activities	Information technology
Puyi Fund [Member] \| Variable Interest Entities [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	November 2010
Place of incorporation	Chengdu
Percentage of effective ownership	100.00%
Principal Activities	Fund product distribution
Puyi Zhongxiang [Member] \| Variable Interest Entities [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	April 2014
Place of incorporation	Shenzhen
Percentage of effective ownership	100.00%
Principal Activities	Financial product distribution
Puyi Asset [Member] \| Variable Interest Entities [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	May 2013
Place of incorporation	Shenzhen
Percentage of effective ownership	100.00%
Principal Activities	Asset management
Chongqing Fengyi [Member] \| Variable Interest Entities [Member]
Wholly owned subsidiaries
Date of incorporation/ acquired	December 2016
Place of incorporation	Chongqing
Percentage of effective ownership	100.00%
Principal Activities	Corporate financing business

Organization and Principal Activities (Details) - Schedule of financial statements amounts and balances of the VIE - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	¥ 11,172	¥ 11,732
Restricted cash
Inter-group balance due from VIEs and subsidiaries	80	77
Investments in subsidiaries	217,696	248,459
Other assets
Total assets	228,948	260,268
Inter-group balance due to VIEs and subsidiaries
Inter-group balance due to parent
Other liabilities		217
Total liabilities		217
Total equity	228,948	260,051
VIEs [Member]
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	42,943	123,276
Restricted cash	16,434	118,796
Inter-group balance due from VIEs and subsidiaries	37,950	20,000
Investments in subsidiaries
Other assets	122,218	91,869
Total assets	219,545	353,941
Inter-group balance due to VIEs and subsidiaries	47,100	46,008
Inter-group balance due to parent
Other liabilities	75,988	181,959
Total liabilities	123,088	227,967
Total equity	96,457	125,974
WFOEs [Member]
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	20,473	58,647
Restricted cash
Inter-group balance due from VIEs and subsidiaries	47,121	46,029
Investments in subsidiaries
Other assets	109,957	59,012
Total assets	177,551	163,688
Inter-group balance due to VIEs and subsidiaries	37,950	20,000
Inter-group balance due to parent
Other liabilities	19,366	21,709
Total liabilities	57,316	41,709
Total equity	120,235	121,979
Other subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	645	604
Restricted cash
Inter-group balance due from VIEs and subsidiaries
Investments in subsidiaries
Other assets	460
Total assets	1,105	604
Inter-group balance due to VIEs and subsidiaries	21	21
Inter-group balance due to parent	80	77
Other liabilities
Total liabilities	101	98
Total equity	1,004	506
Eliminating adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents
Restricted cash
Inter-group balance due from VIEs and subsidiaries	(85,151)	(66,106)
Investments in subsidiaries	(217,696)	(248,459)
Other assets
Total assets	(302,847)	(314,565)
Inter-group balance due to VIEs and subsidiaries	(85,071)	(66,029)
Inter-group balance due to parent	(80)	(77)
Other liabilities
Total liabilities	(85,151)	(66,106)
Total equity	(217,696)	(248,459)
Consolidated totals [Member]
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	75,233	194,259
Restricted cash	16,434	118,796
Inter-group balance due from VIEs and subsidiaries
Investments in subsidiaries
Other assets	232,635	150,881
Total assets	324,302	463,936
Inter-group balance due to VIEs and subsidiaries
Inter-group balance due to parent
Other liabilities	95,354	203,885
Total liabilities	95,354	203,885
Total equity	¥ 228,948	¥ 260,051

Organization and Principal Activities (Details) - Schedule of condensed consolidating schedule of results of operations - CNY (¥) ¥ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Parent [Member]
Condensed Statement of Income Captions [Line Items]
Revenues
Cost of revenues
Operating expenses	(935)	(398)
Loss from operations	(935)	(398)
Other income, net	245	18
Share of loss from subsidiaries	(30,763)	(38,805)
Loss before income taxes	(31,453)	(39,185)
Income tax (expense) benefit	(1)	(64)
Net loss	(31,454)	(39,249)
VIEs [Member]
Condensed Statement of Income Captions [Line Items]
Revenues	46,576	89,381
Cost of revenues	(19,737)	(31,312)
Operating expenses	(62,139)	(86,701)
Loss from operations	(35,300)	(28,632)
Other income, net	2,864	2,390
Share of loss from subsidiaries
Loss before income taxes	(32,436)	(26,242)
Income tax (expense) benefit	2,919	3,735
Net loss	(29,517)	(22,507)
WFOEs [Member]
Condensed Statement of Income Captions [Line Items]
Revenues	33,758	23,670
Cost of revenues	(6,201)	(2,317)
Operating expenses	(30,553)	(41,053)
Loss from operations	(3,005)	(19,700)
Other income, net	2,500	3,838
Share of loss from subsidiaries
Loss before income taxes	(505)	(15,862)
Income tax (expense) benefit	(1,239)	(250)
Net loss	(1,744)	(16,112)
Other subsidiaries [Member]
Condensed Statement of Income Captions [Line Items]
Revenues	502
Cost of revenues
Operating expenses	(9)	(185)
Loss from operations	493	(185)
Other income, net	5
Share of loss from subsidiaries
Loss before income taxes	498	(185)
Income tax (expense) benefit
Net loss	498	(185)
Eliminating adjustments [Member]
Condensed Statement of Income Captions [Line Items]
Revenues	(12,407)	(11,565)
Cost of revenues	11,346	11,565
Operating expenses	1,549	488
Loss from operations	488	488
Other income, net	(488)	(484)
Share of loss from subsidiaries	30,763	38,805
Loss before income taxes	30,763	38,809
Income tax (expense) benefit
Net loss	30,763	38,809
Consolidated totals [Member]
Condensed Statement of Income Captions [Line Items]
Revenues	68,429	101,486
Cost of revenues	(14,601)	(22,064)
Operating expenses	(92,087)	(127,849)
Loss from operations	(38,259)	(48,427)
Other income, net	5,126	5,762
Share of loss from subsidiaries
Loss before income taxes	(33,133)	(42,665)
Income tax (expense) benefit	1,679	3,421
Net loss	¥ (31,454)	¥ (39,244)

Organization and Principal Activities (Details) - Schedule of condensed consolidating schedule of cash flows - CNY (¥) ¥ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Parent [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	¥ (911)	¥ (844)
Net cash used in investing activities
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents, and restricted cash	(911)	(844)
Cash and cash equivalents, and restricted cash at the beginning of year	11,732	12,770
Effect of exchange rate changes on cash and cash equivalents	351	(160)
Cash and cash equivalents, and restricted cash at the end of year	11,172	11,766
VIEs [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(136,477)	42,322
Net cash used in investing activities	(46,218)	(7,627)
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents, and restricted cash	(182,695)	34,695
Cash and cash equivalents, and restricted cash at the beginning of year	242,072	198,842
Effect of exchange rate changes on cash and cash equivalents
Cash and cash equivalents, and restricted cash at the end of year	59,377	233,537
WFOEs [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	11,863	(50,607)
Net cash used in investing activities	(50,037)	(732)
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents, and restricted cash	(38,174)	(51,339)
Cash and cash equivalents, and restricted cash at the beginning of year	58,647	120,422
Effect of exchange rate changes on cash and cash equivalents
Cash and cash equivalents, and restricted cash at the end of year	20,473	69,083
Other subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	41	(172)
Net cash used in investing activities
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents, and restricted cash	41	(172)
Cash and cash equivalents, and restricted cash at the beginning of year	604	748
Effect of exchange rate changes on cash and cash equivalents
Cash and cash equivalents, and restricted cash at the end of year	645	576
Eliminating adjustments [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities
Net cash used in investing activities
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents, and restricted cash
Cash and cash equivalents, and restricted cash at the beginning of year
Effect of exchange rate changes on cash and cash equivalents
Cash and cash equivalents, and restricted cash at the end of year
Consolidated totals [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(125,484)	(9,301)
Net cash used in investing activities	(96,255)	(8,359)
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents, and restricted cash	(221,739)	(17,660)
Cash and cash equivalents, and restricted cash at the beginning of year	313,055	332,782
Effect of exchange rate changes on cash and cash equivalents	351	(160)
Cash and cash equivalents, and restricted cash at the end of year	¥ 91,667	¥ 314,962

Organization and Principal Activities (Details) - Schedule of subsidiaries and the VIEs conduct business transactions that primarily include wealth management services and asset management services ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Variable Interest Entity [Line Items]
Intercompany advances from equity owned subsidiaries to the VIEs	¥ 3,290	$ 477	¥ 44,435
Repayment of intercompany advances by the VIEs	2,198	319	59,965
Intercompany advances from the VIEs to equity owned subsidiaries	42,880	6,217	63,288
Repayment of intercompany advances by equity owned subsidiaries	24,930	3,615	107,688
Consulting services [Member]
Variable Interest Entity [Line Items]
Cash paid by the VIEs to equity-owned subsidiary	10,478	1,519	10,459
Technical services [Member]
Variable Interest Entity [Line Items]
Cash paid by the VIEs to equity-owned subsidiary	2,850	413
Office rental and other services [Member]
Variable Interest Entity [Line Items]
Cash paid by the VIEs to equity-owned subsidiary	532	77	607
Digital marketing and IT related services [Member]
Variable Interest Entity [Line Items]
Cash paid by the VIEs to equity-owned subsidiary			¥ 2,400

Summary of Significant Accounting Policies (Details) ¥ / shares in Units, ¥ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares	Dec. 31, 2022 CNY (¥) $ / shares	Jun. 30, 2022 CNY (¥)
Accounting Policies [Abstract]
Allowances for doubtful accounts	¥ 6,892	¥ 6,892
Contract liabilities			¥ 1,500
Underpayment of taxes	¥ 100
Convenience fees rate \| (per share)	¥ 6.8972	¥ 1

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives	6 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Leasehold improvements	Shorter of the remaining lease terms and estimated useful lives
Office equipment, furniture, fixtures [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful life	3 years
Office equipment, furniture, fixtures [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful life	5 years
Motor vehicles [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful life	3 years
Motor vehicles [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful life	5 years

Summary of Significant Accounting Policies (Details) - Schedule of disaggregation of revenue - CNY (¥)
¥ in Thousands

6 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Schedule of Disaggregation of Revenue [Abstract]

Wealth management

¥ 53,546

¥ 94,232

Distribution commissions

51,782

91,208

-- One-time commissions recognized at a point in time

16,247

44,899

-- Recurring management fees recognized over time

35,535

46,309

Performance-based distribution fees recognized at a point in time

1,764

3,024

Asset management

1,161

3,704

Management fees recognized over time

1,085

1,926

Performance-based fees recognized at a point in time

1,778

Insurance consulting services recognized at a point in time

6,999

3,290

Other services

6,723

261

^[1]

Total

¥ 68,429

¥ 101,486

[1]	Other services primarily consist of consulting services for trust and family wealth inheritance recognized at a point in time.

Accounts Receivable, Net (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Allowance for doubtful accounts	¥ 6,892	¥ 6,892

Accounts Receivable, Net (Details) - Schedule of accounts receivable ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Schedule of accounts receivable [Abstract]
Accounts receivable	¥ 60,737	$ 8,806	¥ 66,399
Allowance for doubtful accounts	6,892	999	6,892
Accounts receivable, net	¥ 53,845	$ 7,807	¥ 59,507

Other Receivables and Current Assets (Details) - Schedule of other receivables and current assets ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Schedule Of Other Receivables [Abstract]
Advances to staff	¥ 899	$ 130	¥ 855
Prepayments to service providers	4,105	595	5,252
Rental deposits	3,922	569	5,523
Income tax prepayments			2,666
Other			2
Other receivables and current assets	¥ 8,926	$ 1,294	¥ 14,298

Short-Term Loans Receivable (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 21, 2022	Dec. 21, 2021
Debt Disclosure [Abstract]
Loan balance	¥ 100,000
Annual interest, percentage	7.20%
Short term loan		¥ 3,355	¥ 388

Property and Equipment, Net (Details) - CNY (¥)	6 Months Ended
Property and Equipment, Net (Details) - CNY (¥)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	¥ 2,058	¥ 3,273
Leasehold improvements	3,667
Disposal of leasehold improvements	¥ 1,872

Property and Equipment, Net (Details) - Schedule of property and equipment, net ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Property, Plant and Equipment [Line Items]
Property and equipment, gross	¥ 15,526	$ 2,251	¥ 18,488
Less: Accumulated depreciation	(9,595)	(1,391)	(9,332)
Property and equipment, net	5,931	860	9,156
Furniture, office equipment, fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,219	757	5,151
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,375	1,214	11,405
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	¥ 1,932	$ 280	¥ 1,932

Leases (Details) - Schedule of ROU assets and related lease liabilities ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Schedule of ROU assets and related lease liabilities [Abstract]
Right-of-use assets	¥ 24,556	$ 3,560	¥ 34,382
Lease liabilities, current	8,857	1,284	11,889
Lease liabilities, non-current	17,587	2,550	23,259
Total operating lease liabilities	¥ 26,444	$ 3,834	¥ 35,148

Leases (Details) - Schedule of weighted average lease term and weighted average discount rate	Dec. 31, 2022	Jun. 30, 2022
Weighted average lease term:
Operating leases	3 years 1 month 2 days	3 years 3 months 21 days
Weighted average discount rate:
Operating leases	4.75%	4.75%

Leases (Details) - Schedule of lease expenses ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Schedule of lease expenses [Abstract]
Operating lease expenses	¥ 5,180	$ 751	¥ 8,564
Short-term lease expenses	1,551	225	4,474
Total	¥ 6,731	$ 976	¥ 13,038

Leases (Details) - Schedule of supplemental cash flow information related to leases ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating lease	¥ 4,121	$ 597	¥ 7,878
Supplement noncash information
New operating lease liabilities arose from obtaining right-of-use assets	2,975	431	25,362
Change on lease liabilities arose from modification on lease terms	(62)	(9)
Change on lease liabilities arose from early termination of operating leases	¥ (8,248)	$ (1,196)	¥ (9,848)

Leases (Details) - Schedule of maturities of lease liabilities ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Schedule of maturities of lease liabilities [Abstract]
2023	¥ 5,396	$ 782
2024	8,332	1,208
2025	6,676	968
2026	6,530	947
Thereafter	1,751	254
Total remaining undiscounted lease payments	28,685	4,159
Less: Interest	2,241	325
Total present value of lease liabilities	26,444	3,834
Less: Current operating lease liabilities	8,857	1,284	¥ 11,889
Non-current operating lease liabilities	¥ 17,587	$ 2,550

Investors' Deposit (Details) ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Statistical Disclosure for Banks [Abstract]
Uninvested cash balance	¥ 16,434

Other Payables and Accrued Expenses (Details) - Schedule of components of other payables and accrued expenses ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Schedule of Components of Other Payables and Accrued Expenses [Abstract]
Payroll payable	¥ 17,780	$ 2,578	¥ 13,844
Accrued expenses	3,203	464	3,924
Value-added tax recoverable	(416)	(60)	(700)
Employee’s individual income tax	459	67	407
Others	1,503	217	1,970
Other payables and accrued expenses	¥ 22,529	$ 3,266	¥ 19,445

Sundry Income (Details) - Schedule of components of sundry income ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Schedule of components of sundry income, net [Abstract]
Government grants	¥ 679	$ 99	¥ 1,673
Others	44	6	1
Total sundry income	¥ 723	$ 105	¥ 1,674

Income Taxes (Details) - CNY (¥) ¥ in Thousands	1 Months Ended	6 Months Ended
Income Taxes (Details) - CNY (¥) ¥ in Thousands	Mar. 21, 2018	Dec. 31, 2022	Jun. 30, 2022
Income Taxes (Details) [Line Items]
Income tax PRC, description		the relevant laws and regulations in the PRC, beginning from January 1, 2020, Puyi Bohui has been qualified for west development taxation preference and subject to an income tax rate of 15%. Puyi Zhongxiang is qualified for Shenzhen Qianhai modern services cooperation district entity tax preference and is subject to an income tax rate of 15%. Chongqing Fengyi and Puyi Consulting are qualified for west development taxation preference and are subject to an income tax rate of 15%. Dake has been regarded as an accredited software company since June 2021, and thus enjoys preferential tax treatments, including being exempted from PRC Income Tax for two years starting from its first profit-making year, followed by a 50% reduction for the next three years. As Dake had a loss in the calendar year 2022, it is exempted for income tax for the six months ended December 31, 2022. Puyi FO and other PRC subsidiaries are subject to a standard 25% EIT.
Total tax loss carry-forwards		¥ 184,801	¥ 184,258
Percentage of income tax rate
Unrecognized tax benefits		¥ 13,500	¥ 13,500
Minimum [Member]
Income Taxes (Details) [Line Items]
Percentage of income tax rate		25.00%
Maximum [Member]
Income Taxes (Details) [Line Items]
Percentage of income tax rate		100.00%
Hong Kong [Member]
Income Taxes (Details) [Line Items]
Income tax PRC, description	On March 21, 2018, the Hong Kong Legislative Council passed The Inland Revenue (Amendment) (No. 7) Bill 2017 (the “Bill”) which introduces the two-tiered profits tax rates regime. The Bill was signed into law on March 28, 2018 and was gazette on the following day. Under the two-tiered profits tax rates regime, the first 2 million Hong Kong Dollar (“HKD”) of profits of the qualifying group entity will be taxed at 8.25%, and profits above HKD2 million will be taxed at 16.5%.
EIT Law [Member]
Income Taxes (Details) [Line Items]
Income tax PRC, description		The current PRC EIT Law imposes a 10% withholding income tax for dividends distributed by foreign invested enterprises to their immediate holding companies outside the PRC. A lower withholding tax rate will be applied if there is a tax treaty arrangement between the PRC and the jurisdiction of the foreign holding company. Distributions to holding companies in Hong Kong that satisfy certain requirements specified by PRC tax authorities, for example, will be subject to a 5% withholding tax rate.

Income Taxes (Details) - Schedule of components of the income tax provision ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Income Taxes (Details) - Schedule of components of the income tax provision [Line Items]
Current \| ¥	¥ 746		¥ 564
Deferred \| ¥	(2,425)		(3,985)
Total income tax benefit \| ¥	¥ (1,679)		¥ (3,421)
US Dollar [Member]
Income Taxes (Details) - Schedule of components of the income tax provision [Line Items]
Current \| $		$ 108
Deferred \| $		(351)
Total income tax benefit \| $		$ (243)

Income Taxes (Details) - Schedule of components of the deferred income tax assets and liabilities ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
RMB [Member]
Deferred tax assets:
Tax loss carry forward \| ¥	¥ 24,991		¥ 28,314
Allowance for doubtful accounts, credit losses and impairment losses \| ¥	1,723		1,723
Other temporary book/tax differences \| ¥	6,041
Subtotal \| ¥	32,755		30,037
Less: valuation allowances \| ¥	6,353		6,059
Total \| ¥	¥ 26,403		¥ 23,978
US Dollar [Member]
Deferred tax assets:
Tax loss carry forward \| $		$ 3,622
Allowance for doubtful accounts, credit losses and impairment losses \| $		250
Other temporary book/tax differences \| $		876
Subtotal \| $		4,748
Less: valuation allowances \| $		920
Total \| $		$ 3,828

Income Taxes (Details) - Schedule of reconciliation between the statutory tax rate to income before income taxes ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
RMB [Member]
Income Taxes (Details) - Schedule of reconciliation between the statutory tax rate to income before income taxes [Line Items]
Income (loss) from operations before income taxes \| ¥	¥ (33,133)		¥ (42,665)
PRC income tax statutory rate	25.00%	25.00%	25.00%
Income tax expense (benefit) at statutory tax rate \| ¥	¥ (8,283)		¥ (10,666)
Preferential tax treatments \| ¥	3,513		3,966
Expenses not deductible for tax purposes \| ¥	330		421
Uncertain tax provision \| ¥			500
Temporary book/tax differences \| ¥	2,286
Reversal of previously-recognized DTA due to changes in applicable tax rate \| ¥			768
Impact of different tax rates in other jurisdictions \| ¥	48		141
Others \| ¥	133		197
Valuation allowances \| ¥	294		1,252
Income tax expense (benefit) \| ¥	¥ (1,679)		¥ (3,421)
US Dollar [Member]
Income Taxes (Details) - Schedule of reconciliation between the statutory tax rate to income before income taxes [Line Items]
Income (loss) from operations before income taxes \| $		$ (4,804)
PRC income tax statutory rate	25.00%	25.00%
Income tax expense (benefit) at statutory tax rate \| $		$ (1,201)
Preferential tax treatments \| $		509
Expenses not deductible for tax purposes \| $		48
Uncertain tax provision \| $
Temporary book/tax differences \| $		332
Reversal of previously-recognized DTA due to changes in applicable tax rate \| $
Impact of different tax rates in other jurisdictions \| $		7
Others \| $		19
Valuation allowances \| $		43
Income tax expense (benefit) \| $		$ (243)

Loss Per Share (Details) - Schedule of basic and diluted net income (loss) per ordinary share ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Numerator:
Net loss (in Dollars and Yuan Renminbi)	¥ (31,454)	$ (4,561)	¥ (39,244)
Denominator:
Weighted average number of ordinary shares outstanding	90,472,014	90,472,014	90,472,014
Basic net loss per ordinary share (in Dollars per share and Yuan Renminbi per share) \| (per share)	¥ (0.348)	$ (0.05)	¥ (0.434)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-Section 50
-Paragraph 3
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 250
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-Paragraph 11
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 65
-Paragraph 1
-Subparagraph (f)
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 944
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-03(25))
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Loss Per Share (Details) - Schedule of basic and diluted net income (loss) per ordinary share (Parentheticals)	6 Months Ended
	Dec. 31, 2022 ¥ / shares	Dec. 31, 2022 $ / shares	Dec. 31, 2021 ¥ / shares
Schedule of basic and diluted net income loss per ordinary share [Abstract]
Diluted net loss per ordinary share \| (per share)	¥ (0.348)	$ (0.050)	¥ (0.434)

- Definition

+ References

+ Details

Condensed Financial Statements of the Company (Details) - Schedule of condensed statements of financial position - VIE [Member] ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 11,172	$ 1,620	¥ 11,732
Amounts due from other subsidiaries	80	12	77
Total current assets	11,252	1,632	11,809
Investments in subsidiaries	217,696	31,562	248,459
Total assets	228,948	33,194	260,268
Current liabilities:
Other payables and accrued expenses			217
Total current liabilities			217
Total liabilities			217
Commitments and contingencies
EQUITY:
Ordinary shares (2,000,000,000 shares at US$0.001 each authorized, and 90,472,014 shares issued and outstanding as of June 30, 2022 and December 31, 2022)	600	87	600
Additional paid-in capital	224,694	32,578	224,694
Retained earnings	3,696	535	35,150
Accumulated other comprehensive income	(42)	(6)	(393)
Total equity	228,948	33,194	260,051
Total liabilities and equity	¥ 228,948	$ 33,194	¥ 260,268

Condensed Financial Statements of the Company (Details) - Schedule of condensed statements of financial position (Parentheticals) - VIE [Member] - $ / shares	Dec. 31, 2022	Jun. 30, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, authorized shares	2,000,000,000	2,000,000,000
Ordinary shares, shares issued	90,472,014	90,472,014
Ordinary shares, shares outstanding	90,472,014	90,472,014
Ordinary shares, par value (in Dollars per share)	$ 0.001	$ 0.001

Condensed Financial Statements of the Company (Details) - Schedule of condensed statements of operations and comprehensive income (loss) - VIE [Member] ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Condensed Income Statements, Captions [Line Items]
General and administrative expenses	¥ (935)	$ (136)	¥ (398)
Other income, net	245	36	18
Equity in loss of subsidiaries	(30,763)	(4,460)	(38,805)
Loss before income taxes	(31,453)	(4,560)	(39,185)
Income tax expense	(1)		(64)
Net loss	(31,454)	(4,560)	(39,249)
Other comprehensive income (loss), net of tax: Foreign currency translation adjustments	351	51	(160)
Total Comprehensive loss	¥ (31,103)	$ (4,509)	¥ (39,409)

Related Party Transactions (Details) - Schedule of related parties with whom the group conducted significant transactions and relationship	6 Months Ended
	Dec. 31, 2022
Fanhua Inc. [Member]
Related Party Transactions (Details) - Schedule of related parties with whom the group conducted significant transactions and relationship [Line Items]
Relationship	Shareholder of Puyi since September 2018 who has approximately 4.5% of Puyi and shares a common director with the Group.
Fanhua Lianxing Insurance Sales Co., Ltd. [Member]
Related Party Transactions (Details) - Schedule of related parties with whom the group conducted significant transactions and relationship [Line Items]
Relationship	Subsidiary of Fanhua Inc.
Fanhua Yuntong Enterprise Management Advisory (Shenzhen) Co., Ltd. [Member]
Related Party Transactions (Details) - Schedule of related parties with whom the group conducted significant transactions and relationship [Line Items]
Relationship	Subsidiary of Fanhua Inc.

Related Party Transactions (Details) - Schedule of related party transactions
¥ in Thousands, $ in Thousands

6 Months Ended

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

CNY (¥)

Insurance consulting service income accrued from Fanhua Lianxing [Member]

Other services

^[1]

¥ 6,497

$ 942

¥ 3,312

Insurance consulting service income received from Fanhua Lianxing [Member]

Other services

^[1]

6,449

935

2,320

Trust consulting service income accrued from Fanhua Lianxing [Member]

Other services

^[2]

5,643

818

Trust consulting service income received from Fanhua Lianxing [Member]

Other services

^[2]

Promotion expense accrued and adjusted to Fanhua Yuntong [Member]

Selling expense

^[3]

(55)

(8)

355

Promotion expense paid to Fanhua Yuntong [Member]

Selling expense

^[3]

¥ 175

$ 25

¥ 141

[1]	Starting from January 2021, the Group has cooperated with Fanhua Lianxing to provide insurance consulting service.
[2]	Starting from January 2022, the Group has cooperated with Fanhua Lianxing to provide trust consulting service.
[3]	Starting from August 2021, the Group has cooperated with Fanhua Yuntong and Fanhua Yuntong has provided client referral service to us.

Related Party Transactions (Details) - Schedule of amounts due from related parties ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 CNY (¥)
Business Acquisition [Line Items]
Total	¥ 7,761	$ 1,125	¥ 2,895
Total			(1,500)
Total	(236)	(34)	(292)
Fanhua Yuntong [Member]
Business Acquisition [Line Items]
Total	7,761	1,125	2,895
Total			(1,500)
Total	¥ (236)	$ (34)	¥ (292)

- Definition

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

+ References

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-Publisher FASB
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+ Details

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
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+ Details

Statutory Reserve (Details) - CNY (¥) ¥ in Thousands	6 Months Ended
Statutory Reserve (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Statutory Reserve [Abstract]
Reserve of net profits after income tax, percentage	10.00%
Percentage of statutory reserve registered capital	50.00%
Balance of statutory reserve	¥ 23,314	¥ 23,314