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Condensed Consolidated Statements of Income and Comprehensive Income Unaudited
¥ in Thousands, $ in Thousands
9 Months Ended
Sep. 30, 2021
CNY (¥)
¥ / shares
shares
Sep. 30, 2021
USD ($)
$ / shares
shares
Sep. 30, 2020
CNY (¥)
¥ / shares
shares
Income Statement [Abstract]      
Live streaming - consumable virtual items revenue ¥ 1,133,248 $ 175,877 ¥ 743,882
Live streaming - time based virtual items revenue 25,527 3,962 20,431
Technical services 12,416 1,927 3,491
Total revenues 1,171,191 181,766 767,804
Cost of revenues (938,797) (145,699) (585,379)
Gross profit 232,394 36,067 182,425
Operating expenses      
Sales and marketing expenses (3,746) (581) (3,739)
General and administrative expenses (38,606) (5,992) (19,739)
Recovery (provision) for doubtful accounts (3,405) (528) 2,746
Research and development expenses (39,793) (6,176) (20,770)
Total operating expenses (85,550) (13,277) (41,502)
Income from operations 146,844 22,790 140,923
Interest income 1,882 293 2,154
Other income (expenses), net (84) (13) (4,778)
Foreign exchange (loss) gain, net (34) (5) 983
Change in fair value of contingent consideration 45,463 7,056 87,648
Change in fair value of warrants liability 21,830 3,388
Change in fair value of investment in marketable security 27,648 4,291
Income before income taxes 243,549 37,800 226,930
Income tax benefit (expenses) (6,044) (938) (6,465)
Net income 237,505 36,862 220,465
Other comprehensive income - foreign currency translation adjustment 825 128 5,282
Comprehensive income attributable to the Company’s shareholders ¥ 238,330 $ 36,990 ¥ 225,747
Weighted average number of shares:      
Basic and diluted (in Shares) 30,728,931 30,728,931 21,746,691
Earnings per share:      
Basic and diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 7.73 $ 1.2 ¥ 10.14
Net income ¥ 237,505 $ 36,862 ¥ 220,465
Less:      
Change in fair value of contingent consideration 45,463 7,056 87,648
Change in fair value of warrants liability 21,830 3,388
Share based compensation (12,367) (1,919)
Adjusted net income [1] ¥ 182,579 $ 28,337 ¥ 132,817
Adjusted net income per ordinary share      
Basic and diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 5.94 $ 0.92 ¥ 6.11
[1] Adjusted net income” is defined as net income excluding change in fair value of contingent consideration, change in fair value of warrant liability and share based compensation. For more information, refer to “Use of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Results” at the end of this press release.