REVENUE AND OTHER INCOME

12 Months Ended

Dec. 31, 2023

Notes and other explanatory information [abstract]

REVENUE AND OTHER INCOME

5. REVENUE AND OTHER INCOME

Revenue comprises the fair value of the consideration received or receivable for the sale of goods. An analysis of the Company’s revenue and other income is as follows:

	For the years ended December 31,
	2023		2022		2021
	RMB’000		RMB’000		RMB’000
Revenue
Continuing operations
Business management and consulting		7,142		12,662		13,026
Livestreaming ecommerce		503,404		273,685		58,501
Discontinued operations
Sale of goods (Note 30)		2,701		37,696		144,743
Total revenue		513,247		324,043		216,270
Other income
Continuing operations
Interest income		2,138		10		10
Foreign exchange gain		—		73		—
Government grant		302		—		-
Other		1,288		2,883		22
Discontinued operations
Other income (Note 30)		5,716		14,244		9,388
Total other income		9,444		17,210		9,420

b) Segment reporting

The Company identifies operating segments and prepares segment information based on the regular internal financial information reported to the Chief Executive Officer and executive directors, who are the Company’s chief operating decision makers for their decisions about the allocation of resources to the Company’s business components and for their review of the performance of those components.

All of the Company’s operations are considered by the chief operating decision makers to be aggregated into two reportable operating segments: 1) the manufacture and sale of standard to high-end ceramic tiles, 2) the business management consulting, information system technology consulting services including the sales of software use rights for digital data deposit platforms and asset management systems, and online social media platform development and consulting. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and in assessing performance.

The business of the Company is engaged entirely in the PRC. The Chief Executive Officer and executive directors regularly review the Company’s business as one geographical segment.

The following table shows the Company’s operations by business segment for the years ended December 31, 2023, 2022 and 2021.

	For the year Ended December 31,
	2023			2022			2021
	RMB’000			RMB’000			RMB’000
Revenues
Discontinued operations
Sales of tile products		2,701			37,696			144,743
Continuing operations
Consulting income / software		7,142			12,662			13,026
Livestreaming ecommerce		503,404			273,685			58,501
Total revenues		513,247			324,043			216,270
Cost of revenues
Discontinued operations
Sales of tile products		7,557			41,245			83,436
Continuing operations
Consulting income / software		13,860			12,819			10,002
Livestreaming ecommerce		443,633			245,612			55,491
Total cost of revenues		465,050			299,676			148,929
Operating costs and expenses
Discontinued operations
Sales of tile products		3,245			25,324			20,292
Continuing operations
Consulting income / software		7,330			4,613			9,760
Livestreaming ecommerce		60,285			25,167			195
Other		74,799			9,380			10,677
Total operating costs and expenses		145,659			64,484			40,924
Bad debt expense (reversal)
Discontinued operations
Sales of tile products		(1,000	)		33,365			115,407
Continuing operations
Consulting income / software		—			1,000			4,854
Livestreaming ecommerce		—			(3,751	)		5,293
Total bad debt expense (reversal)		(1,000	)		(30,614	)		125,554
Other expense
Discontinued operations
Sales of tile products		—			—			90
Continuing operations
Consulting income / software		—			36			34
Livestreaming ecommerce		—			6			—
Other		1,204			—			—
Total other expense		1,204			42			124
Other income
Discontinued operations
Sales of tile products		5,716			14,244			9,389
Continuing operations
Consulting income / software		87			115			29
Livestreaming ecommerce		354			2,148			—
Other		3,287			703			2
Total other income		9,444			17,210			9,420
Loss from operations
Discontinued operations
Sales of tile products		(1,385	)		(47,994	)		(65,093	)
Continuing operations
Consulting income / software		(13,961	)		(5,691	)		(11,595	)
Livestreaming ecommerce		(160	)		8,929			(2,478	)
Other		(72,716	)		(8,677	)		(10,675	)
Loss from operations		(88,222	)		(53,433	)		(89,841	)

	As of		As of
	December 31,		December 31,
	2023		2022
Segment assets
Discontinued operations
Sale of tile products		—		74,675
Continuing operations
Business management and consulting		51,336		15,924
Livestreaming ecommerce		13,513		15,004
Others		56,653		4,403
Total assets		121,502		110,006