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Unaudited Condensed Consolidated Statements of Income and Comprehensive Income
¥ in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
CNY (¥)
¥ / shares
shares
Jun. 30, 2023
USD ($)
$ / shares
shares
Jun. 30, 2022
CNY (¥)
¥ / shares
shares
Jun. 30, 2023
CNY (¥)
¥ / shares
shares
Jun. 30, 2023
USD ($)
$ / shares
shares
Jun. 30, 2022
CNY (¥)
¥ / shares
shares
Statement of Comprehensive Income [Abstract]            
Livestreaming - consumable virtual items revenue ¥ 349,629 $ 48,216 ¥ 497,330 ¥ 640,740 $ 88,362 ¥ 940,768
Livestreaming - time based virtual items revenue 6,379 880 6,917 11,890 1,640 14,382
Technical services and others 7,143 985 2,281 14,812 2,042 14,823
Total revenues 363,151 50,081 506,528 667,442 92,044 969,973
Cost of revenues (312,718) (43,126) (413,376) (576,913) (79,560) (762,345)
Gross profit 50,433 6,955 93,152 90,529 12,484 207,628
Operating expenses            
Sales and marketing expenses (257) (35) (452) (466) (64) (1,036)
General and administrative expenses (19,148) (2,641) (15,406) (36,457) (5,028) (34,514)
Provision for doubtful accounts (1,369) (189) (3,353) (2,230) (308) (3,094)
Research and development expenses (18,135) (2,501) (18,313) (34,945) (4,819) (35,128)
Total operating expenses (38,909) (5,366) (37,524) (74,098) (10,219) (73,772)
Income from operations 11,524 1,589 55,628 16,431 2,265 133,856
Change in fair value of contingent consideration 2,540 350 6,050 (1,978) (273) 10,790
Change in fair value of warrants liability 2,085 288 3,883 153 21 8,382
Change in fair value of investment 63,570 8,767 406 65,148 8,984 867
Investment income (loss) (3,870) (534) 346 (4,088) (564) 597
Interest income 745 103 755 1,182 163 1,251
Interest expense (54) (7) (13) (87) (12) (13)
Other income, net 354 49 26 525 72 86
Foreign exchange gain (loss), net 1,454 201 (513) 1,421 196 (453)
Income before income taxes 78,348 10,806 66,568 78,707 10,852 155,363
Income tax benefits (expenses) 6,526 900 807 632 87 (4,762)
Net income 84,874 11,706 67,375 79,339 10,939 150,601
Less: net income (loss) attributable to noncontrolling interest 138 19 (299) (2,247) (310) (299)
Net income attributable to the Company’s shareholders 84,736 11,687 67,674 81,586 11,249 150,900
Other comprehensive income:            
Other comprehensive income (loss) - foreign currency translation adjustment (511) (70) 602 (498) (69) 566
Comprehensive income 84,363 11,636 67,977 78,841 10,870 151,167
Less: comprehensive income (loss) attributable to non-controlling interests 138 19 (299) (2,247) (310) (299)
Comprehensive income attributable to the Company’s shareholders ¥ 84,225 $ 11,617 ¥ 68,276 ¥ 81,088 $ 11,180 ¥ 151,466
Weighted average number of shares*            
Basic (in Shares) 40,447,415 40,447,415 38,602,936 40,447,415 40,447,415 37,122,362
Diluted (in Shares) 40,771,279 40,771,279 38,602,936 40,660,023 40,660,023 37,122,362
Earnings per share            
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 2.09 $ 0.29 ¥ 1.75 ¥ 2.02 $ 0.28 ¥ 4.06
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 2.08 $ 0.29 ¥ 1.75 ¥ 2.01 $ 0.28 ¥ 4.06
Net income attributable to the Company’s shareholders ¥ 84,736 $ 11,687 ¥ 67,674 ¥ 81,586 $ 11,249 ¥ 150,900
Less:            
Change in fair value of contingent consideration 2,540 350 6,050 (1,978) (273) 10,790
Change in fair value of warrants liability 2,085 288 3,883 153 21 8,382
Share based compensation (6,720) (927) (3,711) (8,613) (1,188) (7,437)
Adjusted net income attributable to the Company’s shareholders [1] ¥ 86,831 $ 11,976 ¥ 61,452 ¥ 92,024 $ 12,689 ¥ 139,165
Adjusted net income attributable to the Company’s shareholders per ordinary share*            
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) [1] ¥ 2.15 $ 0.3 ¥ 1.59 ¥ 2.28 $ 0.31 ¥ 3.75
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) [1] ¥ 2.13 $ 0.29 ¥ 1.59 ¥ 2.26 $ 0.31 ¥ 3.75
[1] Adjusted net income attributable to the Company’s shareholders” is defined as net income attributable to the Company’s shareholders 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” above.