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Unaudited Condensed Consolidated Statements of Income and Comprehensive Income
¥ in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
CNY (¥)
¥ / shares
shares
Mar. 31, 2022
USD ($)
$ / shares
shares
Mar. 31, 2021
CNY (¥)
¥ / shares
shares
Income Statement [Abstract]      
Live streaming - consumable virtual items revenue ¥ 445,339 $ 70,250 ¥ 354,236
Live streaming - time based virtual items revenue 7,465 1,178 9,098
Technical services 10,641 1,679 1,697
Total revenues 463,445 73,107 365,031
Cost of revenues (348,969) (55,049) (284,892)
Gross profit 114,476 18,058 80,139
Operating expenses      
Sales and marketing expenses (584) (92) (1,104)
General and administrative expenses (19,108) (3,014) (8,847)
Recovery of (provision for) doubtful accounts 259 41 (448)
Research and development expenses (16,815) (2,653) (9,563)
Total operating expenses (36,248) (5,718) (19,962)
Income from operations 78,228 12,340 60,177
Change in fair value of contingent consideration 4,740 748 (11,778)
Change in fair value of warrants liability 4,499 710 (778)
Change in fair value of investment 712 112 26,168
Interest income 496 78 738
Interest expense (117)
Other expenses, net 60 9
Foreign exchange gain (loss), net 60 9 (93)
Income before income taxes 88,795 14,006 74,317
Income tax expenses (5,569) (878) (3,359)
Net income 83,226 13,128 70,958
Other comprehensive income - foreign currency translation adjustment (36) (6) (486)
Comprehensive income attributable to the Company’s shareholders ¥ 83,190 $ 13,122 ¥ 70,472
Weighted average number of shares      
Basic (in Shares) 35,612,100 35,612,100 30,582,611
Diluted (in Shares) 35,612,100 35,612,100 30,582,611
Earnings per share      
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 2.34 $ 0.37 ¥ 2.32
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 2.34 $ 0.37 ¥ 2.32
Net income ¥ 83,226 $ 13,128 ¥ 70,958
Less:      
Change in fair value of contingent consideration 4,740 748 (11,778)
Change in fair value of warrants liability 4,499 710 (778)
Share based compensation (3,726) (588)
Adjusted net income [1] ¥ 77,713 $ 12,258 ¥ 83,514
Adjusted net income per ordinary share*      
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) [1] ¥ 2.18 $ 0.34 ¥ 2.73
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) [1] ¥ 2.18 $ 0.34 ¥ 2.73
[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.