Note 8 - Long-term Investments

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

8. Long-term investments

As of

March 31, 2020

and

December 31, 2019,

long-term investment of approximately

RMB0.25

million (approximately

US$0.03

million) represented the Company’s contribution of its pro-rata share of cash investment to Local Chain Xi’an Information Technology Co., Ltd. (“Local Chain Xi’an). The Company beneficially owns a

4.9%

equity interest in Local Chain Xi’an

.

The Company measures this investment which do

not

have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company.