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Unaudited Condensed Consolidated Statements of Income and Comprehensive Income
¥ in Thousands, $ in Thousands
9 Months Ended
Sep. 30, 2022
CNY (¥)
¥ / shares
shares
Sep. 30, 2022
USD ($)
$ / shares
shares
Sep. 30, 2021
CNY (¥)
¥ / shares
shares
Income Statement [Abstract]      
Live streaming - consumable virtual items revenue ¥ 1,377,720 $ 193,677 ¥ 1,133,248
Live streaming - time based virtual items revenue 21,037 2,957 25,527
Technical services and others 20,658 2,904 12,416
Total revenues 1,419,415 199,538 1,171,191
Cost of revenues (1,141,205) (160,428) (938,797)
Gross profit 278,210 39,110 232,394
Operating expenses      
Sales and marketing expenses (1,427) (201) (3,746)
General and administrative expenses (46,253) (6,502) (38,606)
Provision for doubtful accounts (7,552) (1,062) (3,405)
Research and development expenses (53,716) (7,551) (39,793)
Total operating expenses (108,948) (15,316) (85,550)
Income from operations 169,262 23,794 146,844
Change in fair value of contingent consideration 16,065 2,258 45,463
Change in fair value of warrants liability 10,340 1,454 21,830
Change in fair value of investment in marketable security 1,368 192 27,648
Investment income 854 120
Interest income 2,000 281 2,246
Interest expense (37) (5) (364)
Other income (expenses), net 6,110 859 (84)
Foreign exchange loss, net (1,112) (156) (34)
Income before income taxes 204,850 28,797 243,549
Income tax expenses (13,192) (1,855) (6,044)
Net income 191,658 26,942 237,505
Less: net income attributable to noncontrolling interest 2,296 323
Net income attributable to the Company’s shareholders 189,362 26,619 237,505
Other comprehensive income:      
Other comprehensive income - foreign currency translation adjustment 1,299 183 825
Comprehensive income 192,957 27,125 238,330
Less: comprehensive income attributable to non-controlling interests 2,296 323
Comprehensive income attributable to the Company’s shareholders ¥ 190,661 $ 26,802 ¥ 238,330
Weighted average number of shares:      
Basic (in Shares) 38,518,087 38,518,087 30,728,931
Diluted (in Shares) 38,524,528 38,524,528 30,728,931
Earnings per share:      
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 4.92 $ 0.69 ¥ 7.73
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 4.92 $ 0.69 ¥ 7.73
Net income attributable to the Company’s shareholders ¥ 189,362 $ 26,619 ¥ 237,505
Less:      
Change in fair value of contingent consideration 16,065 2,258 45,463
Change in fair value of warrants liability 10,340 1,454 21,830
Share based compensation (9,515) (1,338) (12,367)
Adjusted net income attributable to the Company’s shareholders ¥ 172,472 $ 24,245 ¥ 182,579
Adjusted net income per ordinary share      
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 4.48 $ 0.63 ¥ 5.94
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 4.48 $ 0.63 ¥ 5.94