Financial Performance - The company's operating revenue for 2021 was ¥355,131,475.38, representing a 20.86% increase compared to ¥293,843,947.62 in 2020[42]. - The net profit attributable to shareholders was -¥46,226,144.46, an improvement of 65.75% from -¥134,958,387.66 in the previous year[42]. - The net cash flow from operating activities increased by 86.24% to ¥67,359,812.88, up from ¥36,168,560.45 in 2020[42]. - The total assets at the end of 2021 were ¥1,071,752,666.18, a 1.64% increase from ¥1,054,418,691.45 at the end of 2020[42]. - The company's basic and diluted earnings per share improved to -¥0.18 from -¥0.52 in 2020, marking a 65.38% increase[42]. - The net profit after deducting non-recurring gains and losses was -¥38,198,499.86, showing a 73.61% improvement from -¥144,767,828.08 in 2020[42]. - The total operating revenue for 2021 reached ¥355,131,475.38, representing a year-on-year increase of 20.86% compared to ¥293,843,947.62 in 2020[75]. - The cloud service business contributed ¥183,922,881.69, accounting for 51.79% of total revenue, with a growth of 28.68% from ¥142,928,353.79 in 2020[76]. - The company's self-operated online games revenue increased by 53.39% to ¥65,529,197.81, up from ¥42,720,835.71 in the previous year[75]. - The technology and cultural tourism business saw a significant revenue increase of 95.77%, reaching ¥1,597,936.31 from ¥816,217.54 in 2020[76]. - The revenue from other services surged by 333.25% to ¥5,360,071.70, compared to ¥1,237,179.38 in the previous year[76]. Gaming Industry Insights - In 2021, China's gaming market generated actual sales revenue of CNY 296.51 billion, an increase of CNY 17.83 billion, representing a year-on-year growth of 6.4%[9]. - The domestic gaming user base reached 666 million, with a slight year-on-year growth of 0.22%[9]. - The gaming industry faces risks from market competition and regulatory approvals, which could impact new game launches and overall performance[16][17]. - The company is focusing on dual-driven development in both gaming and cloud service sectors, enhancing its business model sustainability[55]. - The company is actively developing new red-themed mobile games and plans to launch several titles, including anti-Japanese war and Long March themed games, to enhance its brand positioning in the patriotic gaming market[142]. - The company is focusing on the growth of its patriotic mobile games, with new players and online numbers for "Anti-Japanese War" and "Bright Sword" showing good growth, aiming to enhance the dissemination of red-themed content[56]. - Multiple new games are in development, including "Shen Chu Shao Fang - Brewing Master" and "Tao Yuan Yi Meng," with several products already in the application process for licensing, expanding the company's market coverage[57]. - The company is currently developing multiple projects aimed at enhancing product competitiveness, with all projects in the research phase[92]. - The gaming promotion project generated revenue of RMB 2,551.35 million, reflecting a 101.24% increase[115]. - The company faced challenges with several game projects, leading to underperformance and eventual shutdowns, including the 3D game "Alliance" and the 2.5D game "Three Kingdoms Hero" due to market conditions[117][118]. Cloud Services and Technology - The company operates in the cloud services sector, including IDC and broadband access services, facing rapid technological updates and risks associated with insufficient investment in transmission technology and equipment[23]. - The domestic cloud services industry is experiencing rapid growth, with a high dependency on management and technical talent, making it crucial for the company to provide competitive incentives to retain core personnel[25]. - The company has established two high-level self-built data centers in Shenzhen and Leshan, enhancing its cloud service capabilities and operational efficiency[69]. - The company has completed strategic partnerships with top-tier security vendors to enhance its cloud security offerings, aligning with new policy guidelines[63]. - The company is committed to increasing the efficiency and profitability of its cloud services, leveraging its resources and advanced management platforms[69]. - The company is enhancing its collaboration with major telecom operators to improve the utilization rates of its data centers and expand its cloud value-added services[145]. - The IDC business market in China is projected to grow at a compound annual growth rate of 26.9% from 2019 to 2022, indicating strong demand and no signs of overcapacity[10]. - The company will focus on expanding its cloud service market by targeting emerging industries such as industrial internet and AR/VR[14]. - The company is committed to building a digital economy ecosystem through digital twin applications across various sectors, including education, tourism, and urban development[147]. Research and Development - Research and development expenses increased by 51.99% year-on-year to ¥54.57 million, representing 15.37% of total revenue, up from 12.22% in 2020[91][92]. - The number of R&D personnel increased by 124.76% to 236, with R&D staff now accounting for 47.39% of the total workforce[92]. - The company is investing in R&D for new gaming technologies, with a budget allocation of approximately $5 million for the upcoming year[182]. - The company emphasizes the importance of a stable and high-quality technology talent team for its growth and competitiveness[25]. - The company is committed to talent development as a key part of its growth strategy, ensuring a strong foundation for future expansion[74]. Regulatory and Compliance Risks - The company has recognized asset impairment losses for long-term equity investments in joint ventures based on valuation assessments[5]. - The company has established mechanisms for intellectual property rights but still faces potential litigation risks due to compliance issues with national laws and regulations[28]. - The company is exposed to regulatory risks in the gaming sector, requiring licenses for mobile game operations and potential approval failures for new games[151]. - The company is committed to complying with government regulations to mitigate potential policy risks and ensure legal operations[159]. Management and Governance - The company will not distribute cash dividends or issue bonus shares for the year[4]. - The company has implemented a stock option incentive plan in 2021 to attract and retain talent, aligning employee interests with long-term company growth[68]. - The company has established a performance evaluation and incentive mechanism for senior management[188]. - The company emphasized thorough feasibility and economic benefit analysis before any acquisition to mitigate investment risks[160]. - The company held three shareholder meetings during the reporting period, with the highest investor participation at 21.44% for the second temporary shareholder meeting on December 7, 2021[175]. - The company reported a total of 945,943 shares held by directors and senior management at the end of the reporting period, with a net decrease of 64,000 shares during the period[178]. - The company experienced changes in its board and management, including the resignation of the deputy general manager and board secretary, Wen Yi, on February 24, 2021, due to personal reasons[178]. - The company’s independent director, Chen Panli, was appointed on January 10, 2022, and resigned on April 6, 2022, for personal reasons[178]. Future Outlook - Future outlook includes a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[181]. - The company plans to enhance its digital marketing efforts, with a budget increase of 20% to boost user acquisition[186]. - The company is exploring partnerships with technology firms to leverage AI in game development, aiming to improve user experience and engagement[188]. - The company plans to focus on high-quality game development and cloud service expansion, aiming for stable growth in cloud services[150].

Financial Performance - The company's operating revenue for Q3 2021 was ¥93,176,278.57, representing a year-on-year increase of 35.08%[3] - The net profit attributable to shareholders for the same period was ¥2,017,829.31, a significant increase of 127.92% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥301,503.12, reflecting a decrease of 96.71% compared to the previous year[3] - The net profit attributable to shareholders for the year-to-date period increased by 730.18% to ¥13,565,119.67[7] - The company reported a net profit of ¥45,881,458.74, up from ¥32,274,747.27, reflecting a growth of 42.2%[17] - The net profit for Q3 2021 was CNY 21,318,416.10, a significant increase compared to CNY 2,039,330.16 in Q3 2020, representing a growth of approximately 943%[20] - Operating profit for the quarter reached CNY 18,407,254.14, compared to CNY 985,085.43 in the same period last year, indicating a substantial improvement[20] - The total comprehensive income for the quarter was CNY 21,647,087.32, compared to CNY 2,061,841.62 in Q3 2020, indicating a growth of approximately 950%[21] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period increased by 389.83% to ¥45,224,486.84[7] - The cash flow from operating activities was CNY 45,224,486.84, a turnaround from a negative cash flow of CNY -15,603,787.69 in Q3 2020[24] - Cash and cash equivalents decreased to ¥78,522,702.16 from ¥109,621,446.74, a decline of 28.3%[15] - Cash and cash equivalents at the end of the period stood at CNY 65,850,476.46, an increase from CNY 48,451,713.15 year-over-year[24] - The company raised CNY 130,000,000.00 through borrowings, slightly up from CNY 129,000,000.00 in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,098,847,555.81, an increase of 4.21% from the end of the previous year[3] - Total assets as of September 30, 2021, were ¥1,098,847,555.81, compared to ¥1,054,418,691.45 at the end of 2020, marking an increase of 4.2%[16] - Total liabilities increased to ¥383,067,079.98 from ¥354,599,282.42, an increase of 8.0%[17] - Total liabilities increased from ¥354,599,282.42 to ¥373,290,678.76, representing a growth of approximately 5.25%[28] - The company's equity attributable to shareholders rose to ¥710,861,027.37 from ¥696,528,257.00, an increase of 2.1%[17] Operational Highlights - The company reported a significant increase in government subsidies, totaling ¥1,967,542.07 for the quarter[5] - The company plans to enhance its data center operations and expand its gaming revenue streams to drive future growth[7] - The company is focusing on expanding its market presence and developing new technologies[16] - The company has terminated its advertising agency promotion business with Baidu Network Company as of August 2020[13] Research and Development - Research and development expenses increased to CNY 40,284,070.62 from CNY 25,866,811.04, reflecting a year-over-year growth of about 55%[20] Earnings Per Share - Basic and diluted earnings per share for the year-to-date period were both ¥0.01, up 133.33% year-on-year[3] - The company reported a basic earnings per share of CNY 0.05, compared to CNY 0.01 in the same quarter last year, marking a 400% increase[21] Accounting and Reporting - The third quarter report was not audited, indicating a preliminary assessment of financial performance[30] - The company has adopted the new leasing standards effective January 1, 2021, impacting the financial statements[29]

Financial Performance - Revenue for the first half of 2021 reached RMB 500 million, representing a 15% increase compared to the same period last year[22]. - The company's operating revenue for the reporting period was ¥164,207,833.68, representing a 25.09% increase compared to ¥131,273,353.76 in the same period last year[29]. - The net profit attributable to shareholders was ¥11,547,290.36, up 30.31% from ¥8,861,434.79 year-on-year[29]. - The net profit after deducting non-recurring gains and losses surged by 681.18% to ¥8,815,704.20 from ¥1,128,517.97 in the previous year[29]. - The company anticipates a revenue growth forecast of 30% for the second half of 2021, driven by new game launches and marketing strategies[6]. - The company reported a total comprehensive income of CNY 17.14 million for the first half of 2021, compared to CNY 7.04 million in the same period of 2020, an increase of 143.00%[158]. - The company reported a net loss attributable to shareholders of 5,220,000.00 CNY for the first half of 2021, compared to a profit of 772,000.00 CNY in the same period last year[176]. - The total comprehensive income for the period was -3,623,484.44 CNY, indicating a significant decline in profitability[179]. User Engagement and Market Expansion - The company reported a significant increase in user engagement, with a year-on-year growth of 25% in active users[5]. - The company is focusing on expanding its market share in Southeast Asia, targeting a 20% increase in regional revenue by 2022[6]. - The company is expanding its overseas market presence, particularly in Southeast Asia, with plans to launch local versions of its self-developed products[39]. - New mobile games based on patriotic themes are in development, aiming to capitalize on the growing interest in "国潮" among younger audiences[37]. Research and Development - The company plans to invest an additional RMB 100 million in R&D for new game development, aiming to launch three new titles by the end of 2021[6]. - Research and development expenses increased by 47.45% to approximately ¥24.38 million, reflecting the company's commitment to enhancing its R&D capabilities[48]. - The company is focusing on enhancing its red-themed game products, with plans to upgrade titles like "抗战" and "亮剑" to meet diverse consumer demands[36]. Financial Health and Cash Flow - The net cash flow from operating activities improved significantly to ¥37,648,573.72, compared to a negative cash flow of ¥8,554,852.20 in the same period last year, marking a 540.08% increase[29]. - The company's total assets at the end of the reporting period were ¥996,066,276.04, a decrease of 5.53% from ¥1,054,418,691.45 at the end of the previous year[29]. - The company's cash and cash equivalents decreased by ¥58,812,000, representing a 5.30% decline compared to the previous year[57]. - The company’s total liabilities decreased by ¥67,638,700, representing a 6.05% reduction compared to the previous year[57]. Strategic Initiatives - The company is exploring potential mergers and acquisitions to enhance its competitive position in the gaming market[10]. - The company has implemented a stock incentive plan to retain key talent, aiming to reduce turnover rates by 10%[8]. - The company has established strategic partnerships with top-tier security vendors to enhance its cloud security offerings[42]. - The company plans to invest more in cloud services and expand value-added services to increase market share[94]. Compliance and Governance - The company is actively monitoring regulatory changes in the gaming industry to mitigate potential compliance risks[7]. - The company has not engaged in any non-compliance external guarantees during the reporting period[109]. - There were no significant environmental issues or administrative penalties reported during the reporting period[104]. Shareholder Information - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year[11]. - The total number of shares outstanding remained at 263,269,300, with a slight increase in restricted shares due to the conversion of shares from departing executives[130]. - The company approved the repurchase and cancellation of 1,095,590 restricted shares during the board meeting on May 14, 2021, and the temporary shareholders' meeting on May 31, 2021[102]. Risks and Challenges - The company faced risks in the gaming business due to market competition and changing player preferences, which could impact performance[90]. - There is a risk of core personnel turnover, which could affect the company's competitive advantage in both gaming and cloud services[91]. - The cloud services sector is experiencing increased competition, which may lead to a decline in overall gross margins[92].

Financial Performance - The company's operating revenue for Q1 2021 was ¥79,875,438.03, representing a 20.29% increase compared to ¥66,399,829.54 in the same period last year[9] - Net profit attributable to shareholders was ¥7,496,626.74, up 47.34% from ¥5,088,055.82 year-on-year[9] - The net profit after deducting non-recurring gains and losses surged by 320.66% to ¥5,873,310.93 from ¥1,396,208.99 in the previous year[9] - Basic and diluted earnings per share increased by 50.00% to ¥0.03 from ¥0.02 year-on-year[9] - The company reported a significant increase in operating profit of 238.10% year-on-year, amounting to 10.8632 million yuan[20] - Total operating revenue for Q1 2021 was CNY 79,875,438.03, an increase from CNY 66,399,829.54 in the previous period[49] - Net profit for Q1 2021 was CNY 9,370,947.18, up from CNY 4,532,902.85 in the same period last year[51] - Total comprehensive income for the period was CNY 8,984,511.50, compared to CNY 3,637,351.57 in the previous period, representing a significant increase[52] Cash Flow and Assets - The net cash flow from operating activities improved significantly to ¥3,652,617.08, compared to a negative cash flow of ¥12,617,906.10 in the same period last year, marking a 128.95% increase[9] - The company's cash flow from operating activities increased by 128.95% year-on-year, attributed to higher sales collections and optimized expenditures[19] - The company's current assets decreased to CNY 376,296,467.07 from CNY 409,524,728.11, reflecting a reduction of about 8.09%[41] - Cash and cash equivalents were reported at CNY 69,864,191.67, down from CNY 109,621,446.74, indicating a decrease of approximately 36.29%[41] - The net cash flow from operating activities for the current period is ¥24,743,547.13, a decrease of 72.5% compared to ¥89,574,824.42 in the previous period[62] - Cash inflow from operating activities totaled ¥33,740,202.53, down 89.7% from ¥327,571,271.59 year-on-year[62] - The ending balance of cash and cash equivalents is ¥43,120,360.14, down from ¥31,628,468.10 in the previous period[63] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,273[12] - The top two shareholders, Shenzhen Baode Technology Co., Ltd. and Shenzhen Baode Investment Holdings Co., Ltd., held 12.44% and 7.27% of shares, respectively[12] - The net assets attributable to shareholders increased by 1.03% to ¥703,677,742.11 from ¥696,528,257.00 at the end of the previous year[9] Research and Development - Research and development expenses increased by 36.17% year-on-year, primarily due to increased investment in R&D[19] - Research and development expenses for Q1 2021 were CNY 10,083,042.31, compared to CNY 7,404,988.94 in the previous period, indicating increased investment in innovation[50] Investment and Projects - The company reported a total investment of RMB 76,107.27 million in fundraising, with a cumulative investment amount of RMB 77,499.46 million, showing a discrepancy of RMB 1,392.19 million due to the sale of a subsidiary[26] - The company has invested RMB 10,000 million in the "Zhuo Ye Interactive" project for web game operations and development, with an investment return of RMB 10,865 million[26] - The company achieved a 105.63% return on the "Zhongqing Ju Bao" project, with an investment of RMB 10,000 million and a return of RMB 7,394.3 million[26] - The company has allocated RMB 19.75 million of the raised funds for three projects, including RMB 8 million for game product promotion and RMB 10 million for the Zhongqing Jubao project[28] Compliance and Governance - The company has emphasized the importance of compliance with regulations and has taken measures to prevent non-operational fund occupation, reflecting a commitment to governance[40] - There were no new non-operational fund occupations by major shareholders or their affiliates during the reporting period[40] - The company had non-operating fund occupation by controlling shareholders and related parties, with a total of RMB 2.15 million occupied during the reporting period[34] Other Financial Metrics - Total operating costs for Q1 2021 were CNY 71,830,127.75, compared to CNY 70,105,701.22 in the previous period[50] - The company incurred financial expenses of CNY 613,032.95, down from CNY 1,399,908.55 in the previous period[54] - The company reported a net cash outflow from investing activities of CNY -5,463,835.42, compared to a net inflow of CNY 90,018,075.25 in the previous period[59]

Financial Performance - The company reported a total revenue of 293.84 million yuan, a decrease of 37.32% year-on-year[8]. - The total profit amounted to -128.13 million yuan, reflecting a decline of 330.06% compared to the previous year[8]. - The net profit attributable to the parent company was -134.96 million yuan, down 360.93% year-on-year[8]. - The company's operating revenue for 2020 was approximately ¥293.84 million, a decrease of 37.32% compared to ¥468.83 million in 2019[25]. - The net profit attributable to shareholders was a loss of approximately ¥134.96 million, representing a decline of 360.93% from a profit of ¥51.72 million in 2019[25]. - The company reported a net profit of 9,809,440.42 yuan for the year 2020, a significant decrease from 49,824,838.85 yuan in 2019, indicating a decline of approximately 80.3%[32]. - The company reported a significant decrease in self-operated game revenue, down 43.86% to CNY 7,889,771.48[58]. - The company faced a net loss of RMB 134,958,387.66 in 2020, indicating financial challenges despite having positive distributable profits[115]. Revenue Breakdown - The cloud service business generated ¥142.93 million, accounting for 48.64% of total revenue, but saw a decline of 23.44% from ¥186.68 million in 2019[52]. - The gaming business revenue was ¥145.71 million, representing 49.59% of total revenue, down 45.03% from ¥265.05 million in 2019[52]. - The company's total revenue from online gaming business was CNY 145,712,479.64, a decrease of 45.03% year-over-year[56]. - The cloud services business generated revenue of CNY 142,928,353.79, down 23.44% compared to the previous year[56]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to approximately ¥36.17 million, up 1,077.01% from ¥3.07 million in 2019[25]. - The total assets at the end of 2020 were approximately ¥1.05 billion, a decrease of 26.69% from ¥1.44 billion at the end of 2019[25]. - The company's cash and cash equivalents decreased by 59.49% compared to the beginning of the year, primarily due to repayments of loans and other financial obligations[39]. - The net cash flow from investment activities increased by 174.50% to ¥83,108,509.52, primarily due to the maturity of financial products and reduced long-term asset expenditures[68]. - The net cash flow from financing activities decreased by 493.52% to -¥187,540,890.90, mainly due to reduced working capital borrowings[68]. Strategic Initiatives - The company aims to enhance market expansion efforts and develop new high-quality games to maintain competitive advantages[9]. - The company plans to enhance its game business by developing red-themed mobile games and expanding into various game genres to mitigate risks and costs associated with self-developed projects[101]. - The company is actively expanding its cloud value-added services, including electronic contracts and blockchain applications[47]. - The company has established strategic partnerships in cloud security and developed its own intelligent call center platform, targeting the financial services sector[37]. - The company is focusing on enhancing its cloud services and game products to adapt to market demands and increase market share[106]. Regulatory and Compliance - The company is actively monitoring industry regulations to mitigate potential policy risks[10]. - The company has committed to complying with government regulations to reduce potential policy risks and is actively monitoring industry laws[106]. - The company has made commitments regarding tax obligations and will bear any penalties or losses incurred due to tax issues[118]. - The company has emphasized ongoing optimization and improvement of its game products to adapt to market demands, which has extended the development cycles of several projects[87]. Human Resources and Talent Management - The company has a strong focus on talent development, expanding its management and core technology teams during the reporting period[44]. - The number of R&D personnel increased to 105, representing 25.99% of the total workforce, with R&D investment amounting to ¥35,906,392.53, which is 12.22% of operating revenue[66]. - The company has established a compensation management system that combines internal equity and external competitiveness to attract and retain talent[192]. - The company emphasizes employee training and has developed customized training plans based on annual development needs[194]. Market Trends and Industry Insights - The gaming industry in China saw a user base exceeding 660 million, with actual sales revenue reaching 278.69 billion yuan, a year-on-year growth of 20.71%[8]. - The IDC business market in China is expected to grow at a compound annual growth rate of 26.9% from 2019 to 2022[8]. - The Chinese gaming market generated a revenue of 278.69 billion in 2020, with a year-on-year growth of 20.71%[98]. - The gaming industry faces risks including market competition, regulatory challenges, and the need for high-quality game development to meet player expectations[103]. Shareholder and Governance - The company has committed to maintaining "five independences" in personnel, assets, finance, organization, and business to ensure operational independence[116]. - The company has established a framework to ensure that any related party transactions are conducted at fair market prices[117]. - The board of directors consists of 5 members, including 3 independent directors, with the current term running from May 2020 to May 2023[182]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management[199]. Future Outlook - The company expects a revenue growth of 10-15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[187]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[187]. - A strategic acquisition of a local tech firm is anticipated to enhance the company's technological capabilities and user engagement[188].

Financial Performance - Operating revenue for the reporting period was CNY 68,980,431.19, an increase of 3.71% year-on-year, while year-to-date revenue decreased by 19.12% to CNY 200,253,784.95[7] - Net profit attributable to shareholders was a loss of CNY 7,227,441.66, a decline of 117.23% compared to the same period last year, with year-to-date net profit down 97.62% to CNY 1,633,993.13[7] - Basic and diluted earnings per share were both CNY -0.03, a decrease of 118.75% compared to the same period last year[7] - The net profit for the third quarter was a loss of CNY 5,852,908.21, compared to a net profit of CNY 41,439,225.24 in the previous year, marking a significant decline[39] - The company reported a total comprehensive income of CNY 2,061,841.62 for Q3 2020, compared to CNY 65,817,953.34 in the same quarter last year[47] - The total comprehensive income for the third quarter was a loss of CNY 4,981,313.74, compared to a comprehensive income of CNY 39,827,852.26 in the same period last year[40] Cash Flow - The net cash flow from operating activities was a negative CNY 7,048,935.49, representing an increase in outflow of 85.09% year-on-year[7] - Net cash flow from operating activities decreased by 165.31% year-on-year, mainly due to the payment of agency business costs and software and bandwidth fees[19] - The net cash flow from operating activities was -15,603,787.69 CNY, compared to 23,892,823.61 CNY in the previous period, indicating a significant decline[53] - Total cash inflow from operating activities was 796,655,882.94 CNY, while cash outflow was 812,259,670.63 CNY, resulting in a net cash outflow of 15,603,787.69 CNY[53] - Cash flow from investment activities showed a net inflow of 83,488,360.47 CNY, a recovery from a net outflow of -161,962,331.01 CNY in the previous period[54] - Cash inflow from financing activities was 129,000,000.00 CNY, while cash outflow totaled 317,621,520.50 CNY, leading to a net cash outflow of -188,621,520.50 CNY[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,160,265,574.07, a decrease of 19.33% compared to the end of the previous year[7] - Total liabilities decreased to CNY 313,600,651.37 from CNY 596,304,082.67 year-over-year[31] - Owner's equity increased to CNY 846,664,922.70 from CNY 842,045,067.76[32] - Cash and cash equivalents decreased by 82.09% compared to the beginning of the year, primarily due to repayment of working capital loans and payments for equity acquisitions and project costs[19] - Current liabilities decreased significantly to CNY 262,187,862.15 from CNY 551,360,474.96[31] - Total current liabilities decreased by CNY 7,195,026.32 due to changes in contract liabilities[61] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 47,529[11] - The largest shareholder, Baode Technology Group Co., Ltd., held 12.44% of shares, totaling 32,763,400 shares[11] Government Support - The company received government subsidies amounting to CNY 6,632,680.54 during the reporting period[8] Investment and Income - Investment income decreased by 73.29% year-on-year, due to the recognition of dividends from investment companies and income from joint ventures[19] - Long-term equity investments amounted to CNY 50,609,911.87, up from CNY 45,978,483.29 year-over-year[30] - The company recorded investment income of CNY 2,144,588.81, a decrease from CNY 41,809,634.60 year-over-year[38] Operating Costs and Expenses - Operating costs increased by 0.67% year-on-year, driven by higher maintenance costs for data centers and bandwidth services, while game business costs decreased[19] - Research and development expenses increased to CNY 9,331,888.27 from CNY 7,801,667.57, reflecting a growth of approximately 19.6% year-over-year[38] - Sales expenses rose to CNY 17,621,878.12 from CNY 13,332,745.38, indicating an increase of approximately 32.3%[38] Other Financial Metrics - The weighted average return on net assets was -0.87%, down 5.92% year-on-year[7] - The company reported a net profit of CNY 174,121,676.87 in retained earnings, down from CNY 178,939,268.17[32] - The company incurred a credit impairment loss of CNY -3,063,675.09 in Q3 2020, contrasting with a gain of CNY 560,438.12 in Q3 2019[46]

Financial Performance - Total revenue for Q1 2020 was ¥66,399,829.54, a decrease of 22.59% compared to ¥85,773,149.74 in the same period last year[7] - Net profit attributable to shareholders was ¥5,088,055.82, down 57.54% from ¥11,982,253.13 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥1,396,208.99, a decline of 76.97% from ¥6,061,930.25 in the previous year[7] - Basic earnings per share decreased by 60.00% to ¥0.02 from ¥0.05 year-on-year[7] - Operating revenue for the period was 66.40 million yuan, a decrease of 22.59% year-on-year, attributed to a decline in game business revenue[18] - Operating profit decreased by 63.42% year-on-year to 3.21 million yuan, while total profit decreased by 59.29% to 5.47 million yuan[18] - The company reported a total comprehensive income of CNY 3,637,351.57 for Q1 2020, compared to CNY 11,867,873.00 in the previous year, a decline of about 69.4%[47] - The net profit for Q1 2020 was CNY 4,532,902.85, down from CNY 11,855,262.20 in the same period last year, representing a decline of approximately 61.8%[46] - The operating profit for Q1 2020 was CNY 3,213,045.55, compared to CNY 8,784,457.46 in the previous year, indicating a decrease of about 63.4%[46] Cash Flow and Assets - Net cash flow from operating activities was -¥12,617,906.10, a decrease of 147.77% compared to ¥26,416,249.05 in the same period last year[7] - The company's cash and cash equivalents decreased by 74.27% compared to the beginning of the year, primarily due to repayment of working capital loans and payments for equipment procurement and project costs[17] - The total current assets decreased to ¥459,071,269.64 from ¥669,953,511.72, indicating a decline of approximately 31.4%[35] - The total amount of raised funds used for investment projects reached RMB 34,951 million, with a utilization rate of 34.01%[24] - The total assets at the end of the reporting period were ¥1,220,854,605.03, down 15.12% from ¥1,438,349,150.43 at the end of the previous year[7] - The total cash and cash equivalents at the end of the period were CNY 69,614,445.99, down from CNY 312,113,989.80 in the previous period[55] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,638[10] - The largest shareholder, Shenzhen Baode Investment Holdings, held 27.37% of the shares, totaling 72,163,262 shares[10] - Net assets attributable to shareholders increased by 0.65% to ¥839,567,186.27 from ¥834,144,421.73 at the end of the previous year[7] Investment and Projects - The company plans to launch new products, including a sports competitive game and two RPG games, starting in the second quarter[18] - The development project for the 3D game "Alliance" has a total investment of RMB 5,696 million, with a completion rate of 112.13%[23] - The company has invested RMB 11,500 million in the Suzhou R&D center project, with RMB 709.42 million utilized by the report date[23] - The acquisition of a 51% stake in Shanghai Meifeng Digital Technology Co., Ltd. was completed for RMB 14,280 million, with a utilization rate of 100%[23] - The company has allocated RMB 30 million to increase investment in the operation and R&D of Zhuoye Web Games[27] Challenges and Issues - The company reported that the 3D game "Alliance" did not meet its expected operational status due to extended development cycles, with the initial launch date set for November 30, 2010, and the game ultimately going offline[26] - The 2.5D games "Three Kingdoms Hero" and "New Song Legend" faced stability and playability issues during testing, leading to their offline status after failing to achieve expected benefits[26] - The company experienced a significant increase in financial expenses, with interest expenses rising to CNY 2,126,534.22 from CNY 1,797,547.90, an increase of about 18.3%[46] Fund Management - The company has raised a total of RMB 710.755 million, with RMB 349.51 million allocated to committed investment projects, leaving RMB 361.245 million as excess funds for operational use[26] - The company has not disclosed any issues regarding the use and disclosure of raised funds[29] - The company has not forecasted any significant changes in net profit compared to the same period last year[30]

Financial Performance - Revenue for the first half of 2020 reached RMB 200 million, representing a 15% year-over-year growth[21]. - The company's operating revenue for the reporting period was ¥131,273,353.76, a decrease of 27.50% compared to the same period last year[26]. - The net profit attributable to shareholders was ¥8,861,434.79, down 66.81% year-on-year[26]. - The net profit after deducting non-recurring gains and losses was ¥1,128,517.97, reflecting a 94.00% decline compared to the previous year[26]. - The net cash flow from operating activities was -¥8,554,852.20, a decrease of 112.02% from the same period last year[26]. - The company's total assets at the end of the reporting period were ¥1,231,620,954.05, down 14.37% from the end of the previous year[26]. - The company's cash and cash equivalents decreased by 75.67% compared to the beginning of the year, primarily due to repayment of loans and payment for acquisitions[36]. - The accounts receivable decreased by 11.23% compared to the beginning of the year, attributed to improved sales collection[36]. - The company's net profit for the first half of 2020 was -1,039,983.18 yuan, compared to a profit of 4,953,956.98 yuan in the same period of 2019, indicating a significant decline in profitability[167]. - The company reported a total comprehensive income of -1,039,983.18 yuan for the first half of 2020, compared to 4,953,956.98 yuan in the same period of 2019[168]. User Engagement and Market Strategy - The company reported a significant increase in user engagement, with a 25% rise in active users compared to the previous year[5]. - Future guidance indicates an expected revenue growth of 20% for the second half of 2020, driven by new game launches[21]. - The company plans to invest an additional RMB 50 million in new game development to enhance user experience and market competitiveness[5]. - The company has identified a 30% increase in competition within the gaming industry, prompting a strategic focus on innovation and user retention[5]. - The company is exploring potential acquisitions to expand its market share, with a focus on companies that align with its core business strategy[9]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[102]. - A strategic acquisition of a local gaming studio is in progress, which is anticipated to enhance the company's product offerings and increase user retention[99]. Cost Management and Operational Efficiency - The company focused on optimizing internal structure and reducing operating expenses, achieving a 27.64% reduction in sales, management, R&D, and financial expenses[41]. - Operating costs decreased by 6.46% to ¥69,152,985.38 from ¥73,932,187.72, indicating improved cost management[46]. - Sales expenses significantly reduced by 36.82% to ¥29,198,885.54, attributed to decreased advertising expenditures for game products[46]. - Research and development expenses were ¥16,534,922.77, down 15.31% from ¥19,525,048.20, reflecting a strategic focus on cost control[46]. - The company has implemented cost-cutting measures that are expected to reduce operational expenses by 10% in the next fiscal year[101]. Regulatory and Compliance Risks - The company is closely monitoring regulatory changes in the gaming industry to mitigate potential compliance risks[7]. - Regulatory risks exist as the gaming industry is subject to strict government oversight, requiring licenses for operations and approvals for new games[87]. Talent Management and Employee Incentives - The company has implemented a stock incentive plan to retain key talent and enhance employee motivation[8]. - The company implemented an equity incentive plan in 2018 to enhance employee motivation and align interests[40]. - The company is implementing measures to retain core talent and enhance its management system to mitigate the risk of losing key personnel[88]. Investment and Development Projects - The company plans to allocate RMB 10,000 million for the development of a third-party payment platform, which is currently in progress[69]. - The company has completed strategic partnerships in cloud security, enhancing its product and technology capabilities in this area[34]. - The company is focusing on enhancing its game product offerings and expanding its market presence through strategic investments and acquisitions[69]. - The company has not yet achieved the expected benefits from several game development projects, including the 2.5D game "Three Kingdoms Hero" and the 3D game "Dream Garden," which have been taken offline due to market pressures[72]. Shareholder and Equity Structure - The total number of shares decreased from 263,671,800 to 263,269,300 after the cancellation of 402,500 restricted shares[126]. - The proportion of restricted shares decreased from 1.38% to 1.17% following the conversion of some restricted shares to unrestricted shares[125]. - The company has a total of 263,269,300 shares, with 98.83% being unrestricted shares and only 1.17% being restricted shares[191]. - The total number of shareholders at the end of the reporting period was 45,356, with significant changes in major shareholders' holdings[131]. - The largest shareholder, Baode Technology Group, holds 12.44% of shares, totaling 32,763,400 shares, with a decrease of 420,000 shares during the reporting period[131]. General Corporate Governance - The company did not distribute cash dividends or issue new shares during the reporting period[94]. - The company has not reported any significant litigation or arbitration matters during the reporting period[104]. - The company did not engage in any asset or equity acquisitions or sales during the reporting period[110]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period[81][82].

Financial Performance - Operating revenue increased by 68.24% to ¥111,895,897.90 for the current period, and by 185.88% to ¥707,774,357.30 year-to-date[8] - Net profit attributable to shareholders was a loss of ¥7,227,441.66, a decrease of 117.23% compared to the same period last year[8] - Basic earnings per share were -¥0.03, a decrease of 118.75% compared to the same period last year[8] - The weighted average return on net assets was -0.87%, down 5.92% from the previous year[8] - Total operating revenue for Q3 2020 reached CNY 111,895,897.90, a significant increase from CNY 66,510,820.92 in the previous period[37] - The net profit for the third quarter was a loss of CNY 5,852,908.21, contrasting with a profit of CNY 41,439,225.24 in the same period last year[40] - The total comprehensive income for the third quarter was a loss of CNY 4,981,313.74, compared to a profit of CNY 39,827,852.26 in the previous year[40] - The total operating profit for the third quarter was a loss of CNY 4,424,686.34, compared to a profit of CNY 42,356,185.29 in the same period last year[40] - The company reported a total profit of CNY 6,904,920.39 for Q3 2020, compared to CNY 67,109,309.35 in the same period last year, reflecting a decrease of approximately 90%[47] Cash Flow - Net cash flow from operating activities was a negative ¥7,048,935.49, down 85.09% from the previous period[8] - The net cash flow from operating activities was -15,603,787.69 CNY, compared to 23,892,823.61 CNY in the previous year, indicating a significant decline[54] - Total cash inflow from operating activities was 796,655,882.94 CNY, while cash outflow was 812,259,670.63 CNY, resulting in a net cash outflow of 15,603,787.69 CNY[54] - The company experienced a decrease in cash flow from financing activities, with a net cash flow of -3,384,441.43 CNY compared to 50,803,850.34 CNY in the previous year[58] - The cash flow from investment activities showed a recovery, with a net inflow of 83,488,360.47 CNY compared to a net outflow of -161,962,331.01 CNY in the previous year[55] Assets and Liabilities - Total assets decreased by 19.33% to ¥1,160,265,574.07 compared to the end of the previous year[8] - Cash and cash equivalents decreased by 82.09% compared to the beginning of the year, primarily due to repayment of working capital loans and payments for equity acquisitions and project costs[20] - Total liabilities decreased to CNY 554,936,117.80 from CNY 497,144,438.39 in the previous year[35] - Total assets as of September 30, 2020, were CNY 1,482,674,061.56, an increase from CNY 1,328,432,085.24 at the end of 2019[34] - Total liabilities reached CNY 596,304,082.67, with current liabilities at CNY 551,360,474.96 and non-current liabilities at CNY 44,943,607.71[63] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 47,529[12] - The largest shareholder, Baode Technology Group, held 12.44% of the shares, totaling 32,763,400 shares[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] Operating Costs and Expenses - Operating costs surged by 468.73% year-on-year, reflecting the increased costs associated with the advertising agency business[20] - The total operating costs amounted to CNY 119,912,424.38, compared to CNY 67,062,984.24 in the same period last year[38] - The company incurred a tax expense of CNY 3,141,603.32 for the third quarter, compared to CNY 1,136,693.13 in the previous period[40] - The company reported a significant increase in research and development expenses, totaling CNY 5,404,240.08 for the period, compared to CNY 12,694,376.55 in the previous year[49] Government Subsidies - The company received government subsidies amounting to ¥6,632,680.54 during the year-to-date period[9] Other Financial Metrics - Other receivables rose by 60.13% year-to-date, mainly due to an increase in business loans during the reporting period[20] - Long-term prepaid expenses increased by 111.70% year-to-date, primarily due to the capitalization of custom fees for new game launches[20] - The company reported an investment income of CNY 99,975,818.74, compared to a loss of CNY 192,898.85 in the previous period[42] - The company experienced a credit impairment loss of CNY -3,063,675.09 in Q3 2020, contrasting with a gain of CNY 560,438.12 in the previous year[47]

Financial Performance - Revenue for the first half of 2020 reached RMB 500 million, representing a 15% year-over-year growth[21] - The company's operating revenue for the reporting period was ¥595,878,459.40, representing a 229.09% increase compared to ¥181,068,133.67 in the same period last year[27] - The net profit attributable to shareholders decreased by 66.81% to ¥8,861,434.79 from ¥26,699,764.55 year-on-year[27] - The net profit after deducting non-recurring gains and losses dropped by 94.00% to ¥1,128,517.97 compared to ¥18,807,745.84 in the previous year[27] - The company reported a total revenue of approximately 60.43 million, with a net profit of about 9.43 million, reflecting a strong performance in its core business of data center hosting and value-added services[88] - The company reported a total revenue of RMB 200 million for the first half of 2020, representing a year-on-year increase of 15%[101] - The company achieved operating revenue of 595.88 million yuan, a year-on-year increase of 229.09%[41] - The net profit for the first half of 2020 was CNY 7.89 million, a decrease of 69.8% from CNY 26.08 million in the same period of 2019[166] User Engagement and Market Position - The company reported a significant increase in user engagement, with a 25% rise in active users compared to the previous year[5] - User engagement metrics showed a growth of 25% in active users compared to the same period last year, reaching 1.5 million active users[102] - The company plans to invest an additional RMB 100 million in new game development to enhance user experience and market share[5] - The company has identified a 30% increase in competition within the gaming industry, prompting a strategic focus on innovation and user retention[5] - Future guidance indicates a projected revenue growth of 10% for the second half of 2020, driven by new game launches[21] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[105] Investment and Development - The company plans to relaunch two main games, "Street Football" and "Destiny Dragon Map," in the second half of 2020 after optimizing them[41] - The company has committed to investing RMB 100 million in R&D for new technologies over the next two years[102] - The company is evaluating the feasibility of acquisitions to strengthen its market position amidst rapid industry changes[9] - The company has implemented a talent retention strategy, including a stock incentive plan to enhance employee engagement and reduce turnover[8] - The company has established strategic partnerships in cloud security and has developed its own intelligent call center platform aimed at the financial services sector[35] Financial Position and Cash Flow - The total assets at the end of the reporting period were ¥1,231,620,954.05, down 14.37% from ¥1,438,349,150.43 at the end of the previous year[27] - Cash and cash equivalents decreased by 75.67% compared to the beginning of the year, primarily due to repayment of working capital loans and payment for equity acquisitions[37] - The net cash flow from operating activities was negative at -¥8,554,852.20, a decline of 112.02% from ¥71,180,095.25 in the same period last year[27] - The net cash flow from investing activities improved by 148.82% to ¥89,872,553.62 from -¥184,106,944.17, driven by the maturity of financial products and reduced long-term asset expenditures[48] - The net cash flow from financing activities was -¥184,742,476.01, a 203.94% decrease from ¥177,738,601.06, due to reduced short-term borrowing and repayment of loans[48] Challenges and Risks - The new marketing service business has negatively impacted gross margins, with costs rising by 20% due to high upfront payments[12] - The company is actively monitoring regulatory changes to mitigate potential policy risks associated with game approvals[7] - The company has faced challenges in the competitive gaming market, with several new games not generating expected revenue and ongoing internal restructuring affecting overall performance[74] - The company is facing market risks due to the rapid development of the gaming industry, which requires significant upfront investment in new game development and testing[90] - The company is also addressing industry and policy risks by ensuring compliance with regulatory requirements for mobile gaming operations in China[91] Shareholder and Equity Information - The total number of shares decreased from 263,671,800 to 263,269,300 after the cancellation of 402,500 restricted shares[129] - The largest shareholder, Baode Technology Group, holds 12.44% of the shares, totaling 32,763,400 shares, with a decrease of 420,000 shares during the reporting period[134] - The second largest shareholder, Shenzhen Baode Investment Holdings, holds 7.27% of the shares, totaling 19,141,478 shares, with a significant decrease of 53,021,784 shares[134] - The company has a total of 3,630,643 restricted shares, with 610,986 shares released from restrictions during the reporting period[133] - The company has implemented a three-year unlocking schedule for restricted shares, with 30%, 30%, and 40% released in respective years[133] Corporate Governance and Management - The company appointed a new general manager, Li Yilun, on January 8, 2020, following the departure of the previous general manager, Li Ruijie[149] - The company’s board of directors saw several changes, including the election of new independent directors on May 12, 2020[149] - The company has not reported any significant litigation or arbitration matters during the reporting period[107] - The company did not face any penalties or rectification issues during the reporting period[109]