Note 8 - Long-term Investments

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

8. Long-term investments

As of

June 30, 2020,

the Company's long-term investments consisted of an investment of approximately

RMB0.25

million (approximately

US$0.03

million) and an investment of

RMB0.19

million (approximately

US$0.03

million) in cash to

two

of its indirect equity ownership investee entities, Local Chain Xi'an Information Technology Co., Ltd. (“Local Chain Xi'an”) and Business Opportunity Chain (Guangzhou) Technology Co., Ltd. (“Business Opportunity Chain Guangzhou”), respectively. The Company beneficially owns a

4.9%

and a

19%

equity interest in Local Chain Xi'an and Business Opportunity Chain Guangzhou, respectively.

The Company measures these investments 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.