Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2022, representing a year-on-year increase of 15% compared to RMB 87 million in the same period of 2021[7]. - The company's operating revenue for the first half of 2022 was ¥183,498,828.62, a decrease of 28.47% compared to ¥256,536,749.02 in the same period last year[21]. - The company achieved total revenue of CNY 183.50 million, a decrease of 28.47% compared to the same period last year[45]. - The company reported a net profit attributable to shareholders of ¥6,659,242.98, down 79.15% from ¥31,936,203.45 year-on-year[21]. - The net profit for the first half of 2022 was CNY 31.93 million, a decline of 64.3% compared to CNY 89.65 million in the first half of 2021[153]. - The company reported a gross profit margin of approximately 17.5% for the first half of 2022, compared to 26.5% in the same period of 2021[151]. - The company reported a net loss of CNY 1,957,534,798.90 in retained earnings as of June 30, 2022, compared to a loss of CNY 1,964,194,041.88 at the beginning of the year[145]. - The total comprehensive income for the first half of 2022 was approximately 31.38 million yuan, a decrease of 7.3% compared to the previous period[169]. User Metrics - Active users (paying users) reached 1.5 million, an increase of 20% from 1.25 million in the first half of 2021[13]. - The company’s cloud acceleration platform, SCAP, has seen a 30% increase in usage, indicating strong market acceptance and user engagement[12]. Market Strategy and Expansion - The company plans to expand its market presence by launching new products in the second half of 2022, targeting a 25% growth in user acquisition[4]. - The company is focusing on a B2B2C model to enhance partnerships with gaming operators, aiming for a 15% increase in collaborative revenue streams[13]. - The company plans to strengthen cooperation with leading game and hardware manufacturers to expand market coverage and revenue capabilities[45]. - The company aims to explore new product lines and actively expand smart network applications in the future[45]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[168]. Research and Development - The company has invested RMB 10 million in research and development for new technologies, focusing on enhancing user experience and service efficiency[12]. - The company's R&D investment was CNY 50.81 million, a decrease of 5.60% compared to the previous year[46]. - The company has allocated approximately 4.1 million yuan for research and development in new technologies during the first half of 2022[169]. - The company plans to enhance R&D investment and strengthen market promotion to ensure technological leadership and expand market share[71]. Financial Position - The total assets at the end of the reporting period were ¥910,629,946.68, down 6.71% from ¥976,091,893.83 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 2.16% to ¥594,080,611.88 from ¥581,498,292.97 at the end of the previous year[21]. - Cash and cash equivalents decreased by 10.29% from 425,781,947.67 CNY to 303,491,661.09 CNY, representing 33.33% of total assets[51]. - The company’s total liabilities include accounts payable of 29,050,751.28 CNY, representing 3.19% of total liabilities[52]. - The company’s total liabilities decreased from CNY 256,634,569.93 to CNY 232,936,653.52, representing a reduction of about 9.2%[145]. Risks and Challenges - The company has identified key risks including market competition and regulatory changes, and has outlined strategies to mitigate these risks in its management discussion[3]. - The company acknowledges the risk of intensified competition from large internet companies and game operators entering the game acceleration service market[70]. - The company is facing potential risks related to the stability of control due to pledged shares and overdue debts associated with major shareholders[69]. - The company is exposed to risks from changes in overseas market policies and international environments, particularly due to U.S. regulatory influences[73]. Shareholder Information - The company has a total of 304,396.3 million CNY in total assets and 175,972.4 million CNY in net assets[67]. - The largest shareholder, Yuan Xu, holds 10.75% of the shares, totaling 21,853,924 shares, with 5,463,481 shares pledged[128]. - The company has a total of 51,922,693 restricted shares at the end of the reporting period, with 11,312,674 shares released during the period[126]. - The company has a strategic relationship with Big Data Company, which holds voting rights for 34,944,029 shares under a voting rights entrustment agreement[129]. Compliance and Governance - The company emphasizes compliance with regulatory requirements and transparency in its financial reporting practices[186]. - The company has a structured governance framework, with a board of directors responsible for major decisions and various specialized committees[179]. - The financial statements are prepared based on the going concern principle, reflecting the company's stable cash flow and financial resources[183].

Financial Performance - The company's revenue for Q1 2022 was ¥92,847,986.55, a decrease of 30.14% compared to ¥132,899,014.98 in the same period last year[3] - The net profit attributable to shareholders was -¥19,110,958.73, representing a decline of 199.31% from ¥19,243,692.35 year-on-year[3] - The net cash flow from operating activities was -¥5,590,205.46, down 110.74% from ¥52,033,776.28 in the previous year[3] - The company reported a significant decline in investment income, with a loss of -¥19,875,029.02 compared to a gain of ¥2,602,230.18 in the previous year, a change of -863.77%[8] - The weighted average return on equity was -3.34%, down 5.88% from 2.54% in the same period last year[3] - Net profit for Q1 2022 was a loss of ¥6,396,169.00, compared to a profit of ¥52,511,770.08 in Q1 2021[23] - The company reported an operating loss of ¥5,189,663.29 for Q1 2022, compared to an operating profit of ¥52,668,414.67 in the same quarter last year[23] - The total comprehensive income attributable to the parent company was -18,448,746.48 CNY, compared to 19,243,692.35 CNY in the same period last year[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥942,099,590.69, a decrease of 3.48% from ¥976,091,893.83 at the end of the previous year[3] - The company's total assets decreased to ¥942,099,590.69 from ¥976,091,893.83, reflecting a decline of 3.5%[20] - Total liabilities decreased to ¥224,633,935.04 from ¥256,634,569.93, a reduction of 12.5%[20] - The equity attributable to shareholders of the parent company was ¥566,791,834.99, down from ¥581,498,292.97, a decrease of 2.5%[20] Cash Flow - The company's cash and cash equivalents decreased from ¥425,781,947.67 at the beginning of the year to ¥347,732,694.44 at the end of the reporting period, a decline of approximately 18.3%[18] - The net cash flow from investment activities was -74,613,428.31 CNY, contrasting with a positive cash flow of 29,986,499.11 CNY in Q1 2021[26] - The total cash outflow from operating activities was 132,882,946.49 CNY, slightly up from 132,873,079.08 CNY in the previous year[26] - The company had a cash inflow from financing activities of 3,742,288.50 CNY, with a net cash flow of 3,692,854.40 CNY after outflows[26] - Cash and cash equivalents at the end of the period were 347,732,694.44 CNY, a decrease from 322,329,118.08 CNY year-over-year[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 28,691[12] - The top 10 shareholders hold a total of 51,922,693 shares, with the largest shareholder, Yuan Xu, holding 21,853,924 shares, representing 10.75%[12] - The total number of shares held by the top 10 unrestricted shareholders is 51,922,693, with Yuan Xu holding the largest portion[12] - The company has a total of 49,136,143 restricted shares at the end of the reporting period, with 2,786,550 shares released during the period[15] - The company’s largest shareholder, Guizhou Big Data Industry Group Co., Ltd., has undergone a name change and equity transfer, now holding 18.66% of the voting rights indirectly[16] Operational Strategy - The company plans to strengthen existing product matrices and partnerships, focusing on mobile channels to expand market coverage and revenue capabilities[9] - The company aims to explore new product lines and actively expand into smart network applications[9] - The company has not reported any new product developments or market expansion strategies in the current quarter[13] - The company plans to continue focusing on R&D and market expansion despite the current financial challenges[23] Expenses - Total operating costs for Q1 2022 were ¥79,804,455.37, down 7.5% from ¥86,009,752.66 year-over-year[22] - R&D expenses increased to ¥25,633,821.40, up 16.3% from ¥21,922,510.29 in the previous year[23] - The company reported a decrease in employee compensation liabilities by 48.52%, from ¥35,175,472.59 to ¥18,108,178.36, primarily due to year-end bonuses paid[8] Accounts Receivable - The company reported a decrease in accounts receivable from ¥18,580,510.66 to ¥14,066,030.35, a decline of approximately 24.5%[18]

Financial Performance - The company reported a net profit attributable to shareholders of -174.21 million RMB for 2021, primarily due to goodwill impairment losses of 94.92 million RMB related to the acquisition of Lion's Roar[4]. - The company recognized asset impairment losses of 8.19 million RMB on long-term equity investments in joint ventures and associates, and confirmed investment losses of 38.92 million RMB from associated companies[4]. - The company's operating revenue for 2021 was ¥473,244,942.66, representing a 3.64% increase compared to ¥456,643,081.69 in 2020[20]. - The net profit attributable to shareholders for 2021 was -¥174,205,315.14, a significant decrease of 618.77% from ¥33,580,462.55 in 2020[20]. - The net cash flow from operating activities decreased by 31.31% to ¥115,176,878.92 in 2021 from ¥167,678,233.70 in 2020[20]. - The total assets at the end of 2021 were ¥976,091,893.83, down 14.97% from ¥1,147,871,259.57 at the end of 2020[20]. - The net assets attributable to shareholders decreased by 22.13% to ¥581,498,292.97 at the end of 2021 from ¥746,774,185.34 at the end of 2020[20]. - The basic earnings per share for 2021 was -¥0.86, a decline of 637.50% from ¥0.16 in 2020[20]. - The weighted average return on net assets was -26.41% in 2021, down 29.50% from 3.09% in 2020[20]. - The company achieved total revenue of 473.24 million CNY in the reporting period, representing a year-on-year growth of 3.64%[52]. - The net profit attributable to shareholders was -174.21 million CNY, a significant decline of 618.77% compared to the previous year[52]. Revenue Sources and Business Models - The company’s revenue primarily derived from rental income, with a total revenue after deductions of ¥472,908,952.53 in 2021[20]. - The company operates under both B2C and B2B2C business models, directly engaging with end-users and collaborating with operators and channel partners[40]. - Internet acceleration service business generated ¥431,739,028.27, accounting for 91.23% of total revenue, with a year-on-year growth of 5.79%[56]. - The revenue from the main product, Xunyou Accelerator, was ¥431,403,038.14, with a year-on-year growth of 5.91%[56]. - The B2C sales model accounted for 90.99% of total revenue, with a growth of 5.51% compared to the previous year[60]. Market Trends and Industry Insights - The mobile gaming market in China generated actual sales revenue of CNY 225.54 billion in 2021, representing a year-on-year growth of 7.57%[30]. - The global app download volume exceeded 230 billion in 2021, reflecting a 5% year-on-year increase, indicating robust growth in the mobile application market[31]. - The mobile advertising market is expected to grow significantly, driven by innovations in mobile advertising products and the increasing number of smartphone users[31]. - The number of internet users in China reached 1.032 billion by December 2021, an increase of 42.96 million from December 2020, with an internet penetration rate of 73.0%[29]. Risk Management and Future Outlook - The company emphasized the importance of risk awareness regarding future plans and performance forecasts, indicating that these do not constitute commitments to investors[4]. - The company plans to address potential risks and countermeasures in its future development outlook section of the management discussion[4]. - The company is aware of potential risks from international market policy changes and will adjust strategies accordingly to mitigate adverse impacts[99]. - The company will conduct thorough market analysis and research to reduce risks associated with the development of new businesses and fields[99]. - The company plans to cautiously approach external investments and acquisitions to minimize associated risks, having already recognized impairment in a previous investment[98]. Governance and Compliance - The company strictly adheres to legal regulations for information disclosure, ensuring timely and accurate communication with investors[108]. - The company maintains independence from its controlling shareholder in terms of operations, assets, and decision-making processes[110]. - The company has a dedicated audit committee to oversee financial compliance and governance[105]. - The company has established a performance evaluation system that emphasizes rewarding key personnel and outstanding contributors[107]. - The company has implemented a transparent process for the election of directors, ensuring fairness and compliance with regulations[105]. Research and Development - The company has invested 200 million in R&D for new technologies, representing a 20% increase in R&D spending compared to last year[125]. - The company is focusing on optimizing existing user value and advancing new business developments in mobile internet marketing services[52]. - The company has established a new big data analysis system to support data-driven decision-making for online product quality[53]. - The company’s core technology team is stable and consists of professionals from well-known internet companies, enhancing its innovation capabilities[46]. Shareholder Relations and Commitments - The company reported a total shareholding of 54,028,089 shares at the beginning of the reporting period, with a reduction of 3,707,526 shares, resulting in an ending total of 50,320,563 shares[114]. - The company has committed to maintaining a strong cash flow, with a target of 500 million yuan in cash reserves by the end of the next fiscal year[181]. - The company guarantees that all information disclosed in the transaction is true, accurate, and complete, taking legal responsibility for any misrepresentation[158]. - The company has committed to avoiding competition with its controlling entities and will prioritize business opportunities for the listed company to protect shareholder interests[162]. Strategic Acquisitions and Market Expansion - A strategic acquisition of a local tech firm is in progress, aimed at bolstering the company's technological capabilities[125]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2024[125]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 500 million yuan allocated for potential deals[165]. - The company aims to launch three new products in 2022, which are anticipated to contribute an additional 300 million yuan in revenue[171]. Operational Efficiency and Cost Management - The company has achieved a 10% reduction in operational costs through efficiency improvements in the last fiscal year[125]. - The company aims to reduce operational costs by 15% through efficiency improvements and automation[196]. - The management team highlighted a commitment to improving customer service, with a target to reduce response time by 40%[125]. Legal and Regulatory Compliance - The company has not faced any administrative penalties related to the securities market in the last five years, indicating regulatory compliance[158]. - The company has not encountered any significant discrepancies in governance practices compared to regulatory requirements[109]. - The company has committed to maintaining confidentiality regarding the restructuring information and has taken necessary measures to protect sensitive data[192].

四川迅游网络科技股份有限公司 2021 年第三季度报告 证券代码：300467 证券简称：迅游科技 公告编号：2021-053 四川迅游网络科技股份有限公司 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第三季度报告是否经过审计 | | 本报告期 | 本报告期比 上年同期增减 | 年初至报告期末 | 年初至报告期末比 上年同期增减 | | --- | --- | --- | --- | --- | | 营业收入（元） | 117,570,078.30 | 1.51% | 374,106,827.32 | 3.80% | | 归属于上市 ...

Financial Performance - The company reported a revenue of RMB 100 million for the first half of 2021, representing a year-on-year increase of 15% compared to the same period in 2020[1]. - The company's operating revenue for the reporting period was ¥256,536,749.02, representing a 4.88% increase compared to ¥244,593,699.10 in the same period last year[23]. - The company achieved total revenue of ¥256.54 million, an increase of 4.88% compared to the same period last year[52]. - The net profit attributable to shareholders of the listed company decreased by 9.05% to ¥31,936,203.45 from ¥35,112,466.26 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was ¥17,136,224.48, down 45.28% from ¥31,317,447.26 in the previous year[23]. - The net profit for the first half of 2021 reached CNY 31,102,887.04, representing a significant increase of 222.5% from CNY 9,670,998.56 in the first half of 2020[155]. - The total profit for the first half of 2021 was CNY 32,229,810.54, up by 193.5% compared to CNY 11,008,364.31 in the previous year[155]. - The company's net loss for the first half of 2021 was ¥1,758,052,523.29, an improvement from a loss of ¥1,789,988,726.74 in the same period of 2020[148]. - The total comprehensive income for the first half of 2021 was CNY 31,102,887.04, significantly higher than CNY 9,670,998.56 in the previous year[156]. User Metrics - Active users (paying users) reached 1.5 million, an increase of 20% from the previous year[1]. - The company is focusing on market expansion in Southeast Asia, targeting a 25% increase in user acquisition in that region[1]. Investment and Development - The company plans to invest RMB 50 million in new product development and technology research in the next fiscal year[1]. - Research and development investment increased by 17.68% to ¥53.82 million, reflecting the company's commitment to innovation[54]. - The company plans to increase investment in new technology research and development, focusing on intellectual property to establish core technological barriers[77]. - The company is actively pursuing business transformation and multi-platform expansion in response to market challenges[52]. Cash Flow and Financial Position - The net cash flow from operating activities increased by 29.31% to ¥79,508,480.83, compared to ¥61,485,627.84 in the same period last year[23]. - The company's cash and cash equivalents rose by 197.90% to ¥114.26 million, primarily due to improved cash flow from operating and investing activities[54]. - The total cash inflow from operating activities was 30,768,352.77 CNY, a decrease of approximately 65% from 88,812,977.52 CNY in the first half of 2020[161]. - The cash inflow from operating activities totaled CNY 317,608,663.35, compared to CNY 260,049,746.99 in the first half of 2020[159]. Market and Competitive Landscape - The company has identified key risks including market competition and regulatory changes, with strategies in place to mitigate these risks[1]. - The company faces risks from intensified market competition as large internet companies and game operators enter the game acceleration service market[76]. - The mobile internet advertising market is expected to grow significantly, driven by increasing smartphone usage and the effectiveness of mobile advertising in driving sales conversions[40]. Corporate Governance and Compliance - The company emphasizes compliance with laws and regulations, ensuring transparency and effective communication with investors[88]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[88]. - The company maintains a good credit status, with no significant debts due that have not been settled[101]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,743[128]. - The largest shareholder, Yuan Xu, holds 10.75% of the shares, totaling 21,853,924 shares, with 16,390,443 shares under lock-up[129]. - The company has a total of 55,266,485 shares under lock-up at the end of the reporting period, with 3,552,900 shares released during the period[126]. Risk Management - The company has recognized an impairment provision of CNY 2.175 billion for goodwill related to the acquisition of Lion's Roar, indicating potential risks in future operating conditions[78]. - The company will enhance internal controls and improve overall management efficiency to address integration risks from external investments and acquisitions[77]. Future Outlook - Future guidance indicates a projected revenue growth of 10% to 15% for the second half of 2021[1]. - The company aims to explore new business areas and fields to maintain competitive advantages, although market acceptance may take time[79]. - The company plans to focus on market expansion and new product development in the upcoming quarters[169].

Revenue and Profit - Revenue for Q1 2021 was CNY 132,899,014.98, an increase of 10.47% compared to CNY 120,302,193.27 in the same period last year[7] - The company achieved a total operating revenue of 132.90 million yuan in Q1 2021, representing a year-on-year growth of 10.47%[19] - The net profit attributable to shareholders was 19.24 million yuan, a decrease of 9.91% compared to the same period last year[19] - Net profit attributable to shareholders decreased by 9.91% to CNY 19,243,692.35 from CNY 21,360,989.23 year-on-year[7] - Net profit excluding non-recurring gains and losses fell by 16.40% to CNY 17,084,894.59 compared to CNY 20,435,424.57 in the previous year[7] - The total comprehensive income for the period was CNY 52,511,770.08, compared to CNY 39,209,497.04 in the previous year, reflecting an increase of 33.9%[39] Earnings Per Share - Basic earnings per share decreased by 10.00% to CNY 0.09 from CNY 0.10 in the same period last year[7] - Diluted earnings per share also decreased by 10.00% to CNY 0.09 from CNY 0.10 year-on-year[7] Cash Flow and Assets - Operating cash flow increased by 12.93% to CNY 52,033,776.28 from CNY 46,076,078.66 in the same period last year[7] - Cash and cash equivalents increased by 32.85% to 322.33 million yuan, primarily due to the redemption of financial products during the reporting period[18] - The total current assets reached ¥790,176,435.48, compared to ¥733,552,210.09 at the end of 2020, indicating an increase of about 7.7%[29] - The company's total assets as of March 31, 2021, were ¥1,213,875,746.84, up from ¥1,147,871,259.57 at the end of 2020, reflecting a growth of approximately 5.7%[30] - The total cash and cash equivalents at the end of the period were CNY 322,329,118.08, up from CNY 179,840,824.04 at the end of the same quarter last year[46] Liabilities and Equity - Total liabilities increased to ¥328,523,856.30 from ¥317,812,448.17, marking a rise of about 3.2%[31] - The equity attributable to shareholders of the parent company was CNY 630,692,802.67, slightly up from CNY 629,827,711.72 at the end of 2020[35] - Total liabilities amounted to CNY 414,824,290.54, with current liabilities at CNY 341,369,842.58 and non-current liabilities at CNY 73,454,447.96[56] Operational Performance - The mobile terminal acceleration business showed rapid growth in revenue and profit, while the PC terminal acceleration business experienced a decline[19] - The company is focusing on enhancing product development and market promotion to consolidate its existing product matrix and cooperative resources[20] Financial Expenses and Income - Financial expenses surged by 139.60% to 1.11 million yuan, primarily due to increased borrowing interest[18] - The company reported an investment income of CNY 2,602,230.18 for Q1 2021, down from CNY 3,638,617.05 in the previous year[38] - The investment income for the quarter was CNY 452,263.12, a decrease of 78.6% compared to CNY 2,110,572.11 in the previous year[41] Employee Compensation - Employee compensation payable decreased by 53.57% to 16.26 million yuan, mainly due to the payment of year-end bonuses for 2020[18] - The company reported a total of 7,956,223.41 CNY paid to employees, which remained relatively stable compared to the previous period[48] Regulatory and Compliance - The first quarter report was not audited, which may affect the reliability of the financial data presented[57] - The company reported no violations regarding external guarantees during the reporting period[23] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[24] Future Outlook - The company has not provided specific guidance or outlook for future performance in this report[57] - The company is actively pursuing measures to resolve the judicial freeze on shares held by certain investors, which may impact performance[21]

Financial Performance - The company's operating revenue for 2020 was ¥456,643,081.69, a decrease of 5.59% compared to ¥483,662,652.50 in 2019[18]. - The net profit attributable to shareholders in 2020 was ¥33,580,462.55, a significant increase of 102.83% from a loss of ¥1,186,213,568.77 in 2019[18]. - The net profit after deducting non-recurring gains and losses was ¥4,158,230.18, improving by 100.27% from a loss of ¥1,535,960,968.17 in the previous year[18]. - The basic earnings per share for 2020 was ¥0.16, compared to a loss of ¥5.28 per share in 2019, marking a 103.03% improvement[18]. - The total assets at the end of 2020 were ¥1,147,871,259.57, down 30.01% from ¥1,640,071,427.08 at the end of 2019[18]. - The net assets attributable to shareholders decreased by 30.59% to ¥746,774,185.34 from ¥1,075,888,478.99 in 2019[18]. - The cash flow from operating activities for 2020 was ¥167,678,233.70, a decrease of 4.14% from ¥174,916,810.30 in 2019[18]. - The company reported a weighted average return on equity of 3.09% in 2020, a significant recovery from -73.27% in 2019[18]. - The company achieved total revenue of CNY 456.64 million, a decrease of 5.59% year-on-year, while net profit attributable to shareholders increased by 102.83% to CNY 33.58 million[54]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan in 2020, representing a year-over-year growth of 25%[125]. Market and Business Strategy - The company operates in the online gaming sector, providing services through various platforms, including B2B2C and B2C models[10]. - The company is focused on expanding its market presence and enhancing user engagement through innovative technology solutions[10]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[116]. - The company aims to launch three new products in 2021, which are anticipated to generate 15% of total revenue[116]. - The company plans to diversify its advertising business model from a pure advertising approach to a combination of subscription and advertising models[93]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market reach[160]. - The company has established strong partnerships with major gaming developers, supporting a wide range of online games in the market[40]. - The company has developed core technologies such as SCAP, which enhances the speed and stability of its cloud acceleration services[50]. Research and Development - The company’s R&D efforts focus on enhancing its acceleration platform and exploring innovative technology directions, including algorithm optimization and video optimization[55]. - Investment in R&D increased by 30% in 2020, focusing on enhancing existing technologies and developing new products[117]. - The number of R&D personnel increased to 289, accounting for 80.06% of the total workforce[72]. - The company has allocated 100 million yuan for research and development of new technologies in the next year[135]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential operational risks and countermeasures[4]. - The report includes a detailed discussion on the company's future development outlook, addressing possible risks and strategies[4]. - The company will actively monitor international policy changes to mitigate adverse impacts on its operations[96]. - The company faces risks from intensified market competition as large internet companies begin to develop their own gaming acceleration services[94]. Governance and Compliance - The company has committed to ensuring the independence of its operations and management, as part of its compliance with regulatory requirements[108]. - The company has a clear governance structure with independent board operations and decision-making processes[110]. - The company has committed to avoiding any competition with controlling shareholders and their enterprises[111]. - The company has committed to maintaining compliance with regulatory requirements, ensuring transparency in all financial disclosures and operations[140]. User Engagement and Market Trends - The number of internet users in China reached 5.18 billion by the end of 2020, with mobile gaming users growing significantly, reflecting a robust market environment[39]. - The Chinese gaming industry generated approximately 278.69 billion in revenue in 2020, with mobile gaming leading at 209.68 billion, marking a year-over-year growth of 32.61%[40]. - User data indicated an increase in active users by 25% year-over-year, reaching 5 million active users by the end of 2020[117]. - User data showed a growth in active users, reaching 10 million, which is an increase of 15% year-over-year[126]. Dividend Policy - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital using reserves[5]. - The company plans to distribute no cash dividends for the fiscal year 2020, as the available profit for distribution is negative[102]. - The company has not proposed any cash dividend distribution plan for the past three years, including 2020[107]. - The company reported a total cash dividend of 0.00 for the fiscal year 2020, which is 0.00% of the net profit attributable to ordinary shareholders[107]. Financial Obligations and Commitments - The company has committed to maintaining a dividend payout ratio of 30% of net profits for the next three years[160]. - The company will compensate investors for losses incurred due to unfulfilled commitments, with a penalty of 20% of the total salary received in the year of listing[162]. - The company will disclose specific reasons for any failure to fulfill commitments, including those due to force majeure[161]. - The company has committed to timely and full disclosure of any unfulfilled commitments, accepting public supervision and regulatory oversight[161]. Shareholder Relations - The company has established a framework to ensure that related transactions do not result in unfair advantages or harm to the company and its shareholders[113]. - The company guarantees that there are no serious infringements on its rights and interests as per the Securities Issuance Management Measures[113]. - The company has committed to maintaining confidentiality regarding the restructuring information and has taken necessary measures to prevent insider trading[138]. - The company has confirmed that it has fulfilled its capital contribution obligations to Lion's Roar, with no instances of false, delayed, or withdrawn contributions[155].

Financial Performance - Operating revenue for the period was CNY 115,815,701.68, a slight decrease of 0.27% year-on-year[8] - Net profit attributable to shareholders decreased by 31.79% to CNY 8,712,750.69 compared to the same period last year[8] - Basic earnings per share decreased by 33.33% to CNY 0.040[8] - The company reported a total revenue of 360.41 million CNY for the first nine months of 2020, a decrease of 5.19% year-on-year[20] - The net profit attributable to shareholders was 43.83 million CNY, down 62.80% compared to the previous year, primarily due to regulatory impacts and trade tensions affecting overseas advertising business[20] - Total operating revenue for Q3 2020 was CNY 115,815,701.68, a slight decrease of 0.27% compared to CNY 116,128,263.64 in the same period last year[43] - Net profit for Q3 2020 was CNY 20,186,027.11, down 28.5% from CNY 28,233,726.27 in Q3 2019[45] - The company's gross profit margin decreased to approximately 2.4% in Q3 2020 from 10.5% in Q3 2019[44] - The total profit for Q3 2020 was CNY 3,680,445.11, a decline of 62.6% from CNY 9,835,739.65 in Q3 2019[46] - The net profit for Q3 2020 was CNY 12,536,728.30, a decrease of 39.0% compared to CNY 20,606,445.43 in the same period last year[55] Asset and Liability Changes - Total assets decreased by 30.46% to CNY 1,140,535,908.43 compared to the end of the previous year[8] - The company's current assets decreased to CNY 694,592,999.03 from CNY 1,186,871,327.89, indicating a significant reduction in liquidity[35] - Cash and cash equivalents decreased by 60.65% to 233.17 million CNY, mainly due to the purchase of trading financial assets during the reporting period[19] - The company's total liabilities decreased to CNY 302,323,841.55 from CNY 524,797,012.45, showing a reduction of about 42.2%[37] - The equity attributable to the parent company decreased to CNY 716,760,800.35 from CNY 1,075,888,478.99, a decline of approximately 33.4%[38] - Total liabilities decreased to CNY 412,104,703.12 from CNY 439,341,938.33, a reduction of about 6.2%[41] - Owner's equity decreased to CNY 1,572,822,427.89 from CNY 1,937,758,419.92, indicating a decline of approximately 18.8%[41] Shareholder Information - The total number of shareholders at the end of the reporting period was 22,204[12] - The top ten shareholders held a combined 55.74% of the company's shares, with the largest shareholder holding 10.75%[12] - The company plans to repurchase and cancel a total of 27,002,285 shares as part of the performance compensation agreement related to the acquisition of Lion's Roar Technology[22] Government and Legal Matters - The company received government subsidies that increased other income by 303.84% to 2.94 million CNY during the reporting period[19] - Chengdu Yumo Technology Co., Ltd. failed to meet performance commitments for 2017-2019, resulting in a compensation payment of RMB 6 million in 2020[23] - The court ruled that the defendants must pay RMB 100 million plus interest at 12% per annum for the transfer of 18.1818% equity in Yidong Wuxian, along with a penalty of RMB 1 million and damages of RMB 331,900[24] - The defendants were ordered to complete the payment within 15 days of the ruling, which became effective on September 8, 2020[24] Cash Flow and Investment Activities - Cash flow from operating activities decreased by 5.90% to CNY 47,350,606.64[8] - Cash flow from operating activities generated CNY 108,836,234.48, a decrease of 18.1% compared to CNY 132,897,083.09 in the previous year[56] - Total cash inflow from investment activities was CNY 1,267,062,608.68, significantly higher than CNY 517,483,191.57 in the prior year[58] - Cash flow from investment activities resulted in a net outflow of CNY 416,805,752.81, contrasting with a net inflow of CNY 371,719,661.03 in the same period last year[58] - The total cash outflow from financing activities was CNY 63,696,335.14, compared to CNY 102,708,276.55 in the previous year, showing a reduction of 37.9%[58] Changes in Accounts - Accounts receivable increased by 202.42% to 28.99 million CNY, driven by growth in mobile acceleration services and overseas client receivables[19] - Accounts payable rose by 80.69% to 35.86 million CNY, attributed to increased bandwidth procurement costs[19] - The company reported a significant increase in accounts receivable, rising to CNY 28,998,265.11 from CNY 9,588,622.44, which is an increase of about 202.5%[35] Compliance and Governance - The company has initiated measures to protect its rights regarding unfulfilled compensation obligations from shareholders due to judicial freezes on their shares[26] - The company has sent compensation notices to the shareholders and is requiring them to provide plans to resolve the judicial freezes[26] - If the shareholders fail to fulfill their compensation obligations, their rights to vote and receive dividends will be restricted until the shares are canceled[26] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[29] - There were no violations regarding external guarantees during the reporting period[28] - The company has not disclosed any cash dividend policy execution during the reporting period[30] Research and Development - Research and development expenses remained stable at CNY 22,715,721.17, compared to CNY 22,565,320.80 in the previous year[44] - Research and development expenses increased to CNY 5,749,506.91, up 8% from CNY 5,325,003.95 in the previous year[46] Reporting and Auditing - The report for the third quarter was not audited[70] - The report was presented by the chairman, Zhang Jianwei, on October 26, 2020[71]

Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2020, representing a 15% increase compared to the same period in 2019[1]. - The company's operating revenue for the reporting period was ¥244,593,699.10, a decrease of 7.35% compared to ¥264,005,409.02 in the same period last year[21]. - The net profit attributable to shareholders was ¥35,112,466.26, down 66.57% from ¥105,021,817.76 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥31,317,447.26, a decline of 55.18% compared to ¥69,880,062.72 in the previous year[21]. - The total comprehensive income for the first half of 2020 was CNY 9,670,998.56, compared to CNY 11,694,178.39 in the same period of 2019, reflecting a decrease of approximately 17.3%[154]. - The company's net loss for the current period was CNY 2,392,690, compared to a net loss of CNY 4,669,026.7 in the previous period, indicating an improvement in financial performance[174]. User Engagement and Market Expansion - The number of active users (paying users) reached 500,000, which is a 20% growth year-over-year[1]. - The company plans to expand its market presence by entering three new provinces in the second half of 2020[1]. - The company aims to deepen user engagement and expand its user base, particularly among heavy and competitive gamers, who represent a high-value segment[44]. - The mobile internet advertising market has significant potential, with global internet users reaching 4.54 billion in 2019, and mobile devices being the primary means of access[39]. Research and Development - The R&D expenditure for new products and technologies increased by 25% to RMB 10 million, focusing on enhancing the gaming experience[1]. - The company's R&D expenses increased to CNY 45,729,822.50, up 31.19% from CNY 34,856,303.43 in the first half of 2019[149]. - The company is focusing on technology development in areas such as router-embedded acceleration systems and big data analysis systems[50]. - The company plans to increase investment in new technology research and development, focusing on intellectual property to build core technological barriers[78]. Financial Position and Assets - The total assets at the end of the reporting period were ¥1,515,516,252.50, down 7.59% from ¥1,640,071,427.08 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 1.10% to ¥1,087,767,234.70 from ¥1,075,888,478.99 at the end of the previous year[21]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥474,475,301.55, representing 31.31% of total assets, a significant increase from 5.35% in the same period last year[57]. - The total liabilities at the end of the reporting period were 1,194.00 million yuan, reflecting a manageable debt level[165]. Risks and Challenges - The management highlighted the importance of risk management strategies in response to market volatility[1]. - The company faces risks from intensified market competition as large internet companies and game operators enter the game acceleration service market[77]. - The company has reported a risk of goodwill impairment if future operating conditions do not meet expectations, which could adversely affect current profits[80]. - The company is exposed to foreign exchange risks due to significant transactions in USD and HKD, and will monitor exchange rate fluctuations closely[80]. Shareholder Matters - No cash dividends will be distributed to shareholders for the current fiscal year[1]. - The company did not distribute cash dividends or bonus shares for the half-year period[86]. - The company reported a net profit for the year 2019 that was below the promised performance, leading to compensation obligations for certain shareholders[88]. - The company has issued compensation notices to certain shareholders for not fulfilling their compensation obligations[88]. Subsidiaries and Investments - The subsidiary Chengdu Lion's Roar Technology Co., Ltd. reported a net profit of approximately ¥9.09 million, contributing significantly to the company's overall performance[75]. - The subsidiary Sichuan Subao Network Technology Co., Ltd. reported a net profit of approximately ¥50.31 million, indicating strong operational performance[75]. - The company established two new subsidiaries, Guizhou Subao Network Technology Co., Ltd. and Guiyang Xunyou Network Technology Co., Ltd., with no significant impact on overall operations[77]. Legal and Compliance - The company is currently involved in a lawsuit regarding a share transfer dispute, with a claim amount of 11,700,000 yuan[92]. - There are no major litigation or arbitration matters affecting the company during the reporting period[92]. - The company has not faced any penalties or rectification issues during the reporting period[94]. Corporate Governance - The company completed the repurchase and cancellation of 585,000 restricted shares, reducing the total number of shares from 223,348,069 to 222,763,069[95]. - The company has not undergone any bankruptcy reorganization during the reporting period[91]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[125].

Financial Performance - The company reported a total revenue of RMB 100 million for the year 2019, representing a year-on-year increase of 15% compared to 2018[1]. - The company's operating revenue for 2019 was ¥483,662,652.50, a decrease of 33.83% compared to ¥730,979,866.82 in 2018[19]. - The net profit attributable to shareholders for 2019 was -¥1,186,213,568.77, representing a decline of 50.09% from -¥790,353,914.33 in the previous year[19]. - The company achieved total revenue of 483.66 million yuan, a decrease of 33.83% compared to the previous year[57]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2019, representing a year-over-year growth of 15%[127]. - The company reported a significant increase in revenue, reaching 1.2 billion RMB, representing a year-over-year growth of 25%[148]. - The company reported a significant increase in revenue for the fiscal year 2019, reaching a total of 1.2 billion RMB, representing a year-over-year growth of 25%[177]. User Growth - User data indicated a growth in active users, reaching 1.5 million by the end of 2019, up from 1.2 million in 2018, marking a 25% increase[1]. - User data showed a growth of 15% in active users, reaching 1.5 million by the end of 2019[137]. - User data showed a total of 10 million active users, with a growth rate of 15% compared to the previous year[148]. - User data showed a total of 5 million active users by the end of 2019, an increase of 30% compared to the previous year[177]. Future Outlook - The company has outlined a future outlook projecting a revenue growth of 20% for 2020, driven by new product launches and market expansion strategies[1]. - The company has set a revenue guidance for 2020, projecting a growth rate of 20% compared to 2019[127]. - Future outlook indicates a projected revenue growth of 30% for the next fiscal year, driven by new product launches and market expansion strategies[148]. - Future guidance indicates a projected revenue growth of 18% for 2020, with a target of reaching 1.42 billion RMB[143]. Research and Development - Investment in R&D for new technologies increased by 30% in 2019, totaling RMB 10 million, aimed at enhancing service offerings[1]. - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing user experience[127]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing user experience and service efficiency[143]. - Investment in new technology development increased by 15% in 2019, focusing on enhancing user experience and service efficiency[177]. Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in international revenue by 2021[143]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[148]. - Market expansion plans include entering three new provinces, aiming to increase market share by 10% in these regions[173]. Strategic Acquisitions - The company is exploring potential mergers and acquisitions to enhance its competitive position in the gaming industry[1]. - A strategic acquisition of a local tech firm is anticipated to enhance the company's service offerings and customer base[137]. - The company is considering strategic acquisitions to enhance its service offerings and competitive position in the market[148]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of 500 million RMB allocated for this purpose[143]. Financial Management - No cash dividends will be distributed to shareholders for the fiscal year 2019, as the company aims to reinvest profits into growth initiatives[1]. - The company reported a net cash flow from operating activities of ¥174,916,810.30, down 35.36% from ¥270,591,666.40 in 2018[19]. - The company has committed to maintaining compliance with regulatory requirements while pursuing aggressive growth strategies[173]. - The company has committed to timely and full disclosure of any unfulfilled commitments, accepting public supervision and regulatory oversight[178]. Compliance and Governance - The board of directors has confirmed that all financial reports are accurate and complete, ensuring transparency for investors[1]. - The company confirmed that it has fulfilled all necessary approvals and licenses for its operations, ensuring compliance with legal requirements[145]. - The company has committed to improving its corporate governance practices to enhance investor confidence and protect shareholder interests[177]. - The company has committed to maintaining confidentiality regarding the restructuring information and has taken necessary measures to prevent insider trading[157]. Risks and Challenges - The company has identified key risks in its operational environment, including regulatory changes and market competition, and has developed mitigation strategies[1]. - The mobile internet advertising business faced challenges due to regulatory environments and trade tensions, leading to a decrease in market space for tool-type applications[56]. - The company faces risks from intensified market competition as large internet companies and game operators begin to develop their own gaming acceleration services[100]. - The company faces risks from changes in overseas market policies and international environments, particularly due to the influence of major US internet companies[101]. Shareholder Commitments - The company has committed to avoiding and reducing related party transactions to protect the interests of all shareholders[174]. - The company will ensure that any related party transactions are conducted at fair and reasonable prices[174]. - The company has committed to maintaining transparency and accountability in its operations to safeguard investor interests[179]. - The company guarantees that all provided information related to the transaction is accurate and complete, with no undisclosed contracts or agreements[135].