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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income
¥ in Thousands, $ in Thousands
6 Months Ended
Jun. 30, 2024
CNY (¥)
¥ / shares
shares
Jun. 30, 2024
USD ($)
$ / shares
shares
Jun. 30, 2023
CNY (¥)
¥ / shares
shares
Revenue ¥ 691,139 $ 95,104 ¥ 667,442
Cost of revenues (573,329) (78,893) (576,913)
Gross profit 117,810 16,211 90,529
Sales and marketing expenses (2,177) (300) (466)
General and administrative expenses (36,580) (5,034) (36,457)
Research and development expenses (39,061) (5,375) (34,945)
Provision for credit losses (1,126) (155) (2,230)
Income from operations 38,866 5,347 16,431
Change in fair value of contingent consideration (1,978)
Change in fair value of warrant liabilities 153
Change in fair value of investment in marketable security 3,764 518 65,148
Investments loss (3,354) (462) (4,088)
Interest income, net 2,428 334 1,095
Other income, net 688 95 525
Foreign exchange gain, net 1,508 208 1,421
Income before income taxes 43,900 6,040 78,707
Income tax benefit (expense) (7,673) (1,056) 632
Net income 36,227 4,984 79,339
Less: net loss attributable to non-controlling interest (5,693) (783) (2,247)
Net income attributable to the Company’s shareholders 41,920 5,767 81,586
Other comprehensive loss:      
Other comprehensive loss - foreign currency translation adjustment (608) (84) (498)
Comprehensive income 35,619 4,900 78,841
Less: comprehensive loss attributable to non-controlling interests (5,693) (783) (2,247)
Comprehensive income attributable to the Company’s shareholders ¥ 41,312 $ 5,683 ¥ 81,088
Weighted average number of shares      
Basic (in Shares) 41,164,872 41,164,872 40,447,415
Diluted (in Shares) 41,461,415 41,461,415 40,660,023
Earnings per share      
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 1.02 $ 0.14 ¥ 2.02
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 1.01 $ 0.14 ¥ 2.01
Live streaming - consumable virtual items revenue      
Revenue ¥ 671,308 $ 92,375 ¥ 640,740
Live streaming - time based virtual item revenue      
Revenue 12,516 1,722 11,890
Technical services and others      
Revenue ¥ 7,315 $ 1,007 ¥ 14,812