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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of estimated useful lives
Computer and transmission equipment   3 years
Furniture, fixtures and office equipment   5 years

 

Schedule of estimated economic life of the intangible assets
Trademark   10 years
Patent   10 years
Copyright   10 years
Software   3 to 10 years
Licenses acquired   3 years to infinite life

 

Schedule of assets and liabilities measured at fair value on a recurring basis
   As of December 31, 2021 
   Fair Value Measurement at the Reporting Date using 
   Quoted price
in active
markets for
identical
assets
Level 1
   Significant
other
observable
inputs
Level 2
   Significant
unobservable
inputs
Level 3
   Total 
Financial assets:                
Investment in marketable equity security  ¥38,789    
           -
    
      -
   ¥38,789 
                     
Financial liabilities:                    
Earn-out liability from BeeLive acquisition   
-
    
-
    10,638    10,638 
Warrants liabilty             10,324    10,324 
Total  ¥
-
   ¥
-
   ¥20,962   ¥20,962 

 

   As of December 31, 2022 
   Fair Value Measurement at the Reporting Date using 
   Quoted price
in active
markets for
identical
assets
Level 1
   Significant
other
observable
inputs
Level 2
   Significant
unobservable
inputs
Level 3
   Total 
Financial assets:                
Investment in marketable equity security  ¥40,548    
           
    
     
   ¥40,548 
                     
Financial liabilities:                    
Earn-out liability from BeeLive acquisition  ¥
-
   ¥
-
   ¥
-
   ¥
-
 
Earn-out liability from Weiliantong acquisition   
-
    
-
    4,336    4,336 
Warrant liability   
 
    
 
    166    166 
Total  ¥
-
   ¥
-
   ¥4,502   ¥4,502 

 

Schedule of major assumptions used in the binomial model
   May 7,
2020
   December 31,
2020
   December 31,
2021
 
Risk-free interest rate   0.14%   0.10%   0.38%
Share price  $8.92   $8.66   $5.68 
Probability   20% - 50%   10%   20%-50%

 

    August 10,
2020
    December 31,
2020
    December 31,
2021
    December 31,
2022
 
Risk-free interest rate     0.12 - 0.14 %     0.11% - 0.13 %     0.38 %     4.73 %
Share price   $ 6.2     $ 8.66     $ 5.68     $ 1.97  
Probability     20% - 50 %     20% - 50 %     20% - 50 %     20%-50 %

 

   January 1,
2022
   December 31,
2022
 
Risk-free interest rate   0.39-0.73%   4.73%
Share price  $5.13   $1.97 
Probability   20% - 50%   20% - 50%

 

   May 7,
2020
   December 31,
2020
   December 31,
2021
   December 31,
2022
 
Risk-free interest rate   0.23%   0.18%   0.75%   4.70%
Share price  $8.92   $8.66   $5.68   $1.97 
Volatility   37%   38%   53%   68%

 

Schedule of fair value on a recurring basis using significant unobservable inputs
   Balance 
Balance at January 1, 2020  ¥
-
 
Contingent consideration resulting from SPAC Transaction   266,828 
Contingent consideration resulting from BeeLive acquisition   39,755 
Fair value change   14,068 
Exchange difference   (13,252)
Reclassification to shares to be issued   (200,100)
Balance at December 31, 2020  ¥107,299 
Fair value change   33,584 
Exchange difference   (2,126)
Reclassification to shares to be issued   (128,119)
Balance at December 31, 2021  ¥10,638 
Contingent consideration resulting from Weiliantong acquisition   19,875 
Fair value change   (13,071)
Reclassification to shares to be issued   (13,106)
Balance at December 31, 2022  ¥4,336 
Less: Contingent consideration – earn-out liability – non-current portion   
-
 
Contingent consideration – earn-out liability –current portion  ¥4,336 

 

   Balance 
Balance at January 1, 2020  ¥
-
 
Warrant liabilities resulting from SPAC Transaction   36,121 
Fair value change   (3,904)
Exchange difference   (2,659)
Balance as of December 31, 2020  ¥29,558 
Fair value change   (16,421)
Exercised   (115)
Exchange difference   (2,698)
Balance as of December 31, 2021  ¥10,324 
Fair value change   (10,776)
Exchange difference   618 
Balance as of December 31, 2022  ¥166 

 

Schedule of forth types of our revenue
   For the years ended December 31, 
   2020   2021   2022   2022 
Amounts in thousands of RMB and USD  RMB   RMB   RMB   USD 
Live streaming - consumable virtual items revenue   1,187,431    1,617,056    1,886,179    273,470 
Live streaming - time based virtual item revenue   29,596    32,905    27,683    4,014 
Technical services and others   5,156    19,397    39,395    5,712 
Total revenue   1,222,183    1,669,358    1,953,257    283,196 

 

Schedule of sets forth our revenue
   For the years ended December 31, 
   2020   2021   2022   2022 
Amounts in thousands of RMB and USD  RMB   RMB   RMB   USD 
Showself   549,763    595,004    521,155    75,561 
Lehai   180,112    242,910    241,851    35,065 
Haixiu   321,468    326,661    317,953    46,099 
Beelive   165,684    485,386    545,296    79,060 
Hongle   
-
    
-
    287,607    41,699 
Technical services and others   5,156    19,397    39,395    5,712 
TOTAL   1,222,183    1,669,358    1,953,257    283,196