Financial Performance - The company's operating revenue for Q3 2021 was ¥339,858,503.77, representing a 46.73% increase year-over-year[8]. - The net profit attributable to shareholders for the same period was ¥40,967,292.35, a significant increase of 108.58% compared to the previous year[8]. - The net profit after deducting non-recurring gains and losses reached ¥39,887,584.62, up by 102.89% year-over-year[8]. - The net profit for the year-to-date reached ¥111,004,583.49, a 90.05% increase compared to the same period last year[17]. - Total operating revenue for the period reached ¥959,737,113.66, a 41.6% increase from ¥677,930,798.88 in the previous period[37]. - Operating profit amounted to ¥126,265,728.54, up 43.0% from ¥88,293,278.06 year-over-year[39]. - Net profit attributable to the parent company was ¥111,004,583.49, representing a significant increase of 89.9% compared to ¥58,409,079.55 in the same period last year[41]. - Basic and diluted earnings per share were both ¥0.4625, up from ¥0.2434 in the previous period, showcasing improved profitability per share[41]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,460,992,231.34, showing a decrease of 4.79% from the end of the previous year[8]. - The company's total liabilities increased significantly, with short-term borrowings decreasing by 81.60% to ¥5,966,877.85 due to repayment of bank loans[12]. - Total liabilities increased to ¥645,513,132.08 from ¥419,071,995.00, indicating a rise in financial obligations[36]. - The company's total equity attributable to shareholders decreased to ¥815,479,099.26 from ¥1,073,965,102.48, highlighting a reduction in shareholder equity[36]. - The total assets increased from 1,534,469,310.16 CNY to 1,542,183,584.68 CNY, with an adjustment of 7,714,274.52 CNY due to the new leasing standards[44]. - The total liabilities rose from 419,071,995.00 CNY to 426,786,269.52 CNY, indicating an increase of 7,714,274.52 CNY[44]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥104,750,981.01, reflecting a substantial increase of 188.68%[8]. - The company reported a net cash flow from operating activities of ¥104,750,981.01, compared to ¥36,285,678.25 in the previous year, indicating a substantial improvement[42]. - The net cash flow from investment activities was -144,156,903.20 CNY, compared to -26,804,166.20 CNY in the previous period, indicating a significant increase in cash outflow[44]. - The total cash inflow from financing activities was 52,811,491.66 CNY, while the cash outflow was 362,332,961.54 CNY, resulting in a net cash flow from financing activities of -309,521,469.88 CNY[44]. - The cash and cash equivalents at the end of the period amounted to 248,862,773.86 CNY, down from 597,955,584.00 CNY at the beginning of the period, reflecting a decrease of 349,092,810.14 CNY[44]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 28,750, with the top ten shareholders holding a significant portion of shares[22]. - Lai Chunlin, the largest shareholder, holds 33.40% of the shares, amounting to 80,160,000 shares, with 60,120,000 shares under lock-up[22]. - The company repurchased a total of 3,385,700 shares, accounting for 1.411% of the total share capital, with a total expenditure of 49,999,438.27 RMB[29]. Business Operations - The company completed the liquidation of its microloan business, with all net assets distributed to the parent company[30]. - The company has terminated its microloan business and will no longer include it in the consolidated financial statements[30]. - The company is actively promoting the issuance of A-shares to specific investors, having received approval from the China Securities Regulatory Commission[28]. - The company reported a significant increase in promotional costs and traffic procurement costs, correlating with business growth[17]. Research and Development - Research and development expenses totaled ¥39,638,932.11, an increase from ¥36,589,513.14, reflecting the company's commitment to innovation[39]. Other Financial Metrics - The company's cash and cash equivalents decreased to 248,862,773.86 RMB from 597,955,584.00 RMB year-over-year[34]. - Accounts receivable increased significantly to 413,060,629.68 RMB from 217,108,238.06 RMB year-over-year[34]. - The company’s goodwill remains stable at 317,390,006.00 RMB, unchanged from the previous year[34].

Financial Performance - Total revenue for the first half of 2021 reached ¥619,878,609.89, an increase of 38.89% compared to ¥446,306,954.96 in the same period last year[22]. - Net profit attributable to shareholders was ¥70,037,291.14, representing an 80.66% increase from ¥38,768,217.64 year-on-year[22]. - Net profit after deducting non-recurring gains and losses was ¥68,877,109.31, up 89.86% from ¥36,277,321.69 in the previous year[22]. - Basic earnings per share rose to ¥0.2918, an increase of 80.68% from ¥0.1615 in the previous year[22]. - Total operating revenue for the reporting period reached ¥619,878,609.89, representing a year-on-year increase of 38.89% compared to ¥446,306,954.96 in the previous year[70]. - Revenue from the internet gaming segment was ¥333,893,875.54, accounting for 53.86% of total revenue, with a year-on-year growth of 31.46%[72]. - The internet marketing segment generated ¥280,210,351.73, which is 45.20% of total revenue, showing a significant year-on-year increase of 51.89%[72]. - The IP operation business saw a remarkable revenue increase of 296.84%, reaching ¥205,339,742.15, primarily due to the overseas launch of "Romance of the Three Kingdoms: Strategy Edition"[72]. - The gaming operation business revenue decreased by 36.44% to ¥128,554,133.39, mainly due to changes in revenue settlement methods for "Romance of the Three Kingdoms 2017" overseas[72]. - The company reported a total revenue of ¥280,210,351.73, which is a 51.89% increase compared to the previous year[88]. Cash Flow and Investments - Net cash flow from operating activities was ¥76,830,745.44, a significant increase of 263.39% compared to ¥21,142,804.13 in the same period last year[22]. - The total investment amount for the reporting period was ¥484,610,524.00, a significant increase of 12,015.26% compared to ¥4,000,000.00 in the same period last year, primarily due to the acquisition of minority shareholder rights[111]. - The cash and cash equivalents decreased by 964.13% to -¥129,512,977.65, mainly due to increased payments for equity acquisitions and share buybacks[104]. - The investment activities cash inflow decreased by 76.76% to ¥102,934,749.83 compared to the same period last year, mainly due to a reduction in the redemption of bank wealth management products[104]. - The company completed an equity investment of 10,000,000.00 CNY in Century Network (Hong Kong) Limited, acquiring a 100% stake[112]. - The company acquired Shanghai Tianxi Interactive Entertainment Network Technology Co., Ltd. for 360,000,000.00 CNY, also holding a 100% stake[115]. - The company reported a total investment of 370,000,000.00 CNY in the period, with an investment gain of 59,924,723.20 CNY[115]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,410,727,958.07, a decrease of 8.06% from ¥1,534,469,310.16 at the end of the previous year[22]. - Total liabilities increased to ¥617,953,724.13 in the latest reporting period from ¥419,071,995.00, reflecting a growth of approximately 47.5%[159]. - The company's total equity decreased to ¥792,774,233.94 from ¥1,115,397,315.16, a decline of approximately 29%[159]. - Current assets decreased to CNY 869,420,479.99 from CNY 1,033,630,150.41 year-over-year[157]. - Cash and cash equivalents were CNY 468,442,606.35, down from CNY 597,955,584.00[157]. - Accounts receivable increased to CNY 347,226,275.67 from CNY 217,108,238.06, indicating a growth of approximately 60%[157]. - Non-current assets totaled CNY 541,307,478.08, an increase from CNY 500,839,159.75[157]. - The total number of active users on the gaming platform reached 1,497,805 in Q1, with 1,383,949 active users in Q2[84]. Research and Development - The company has a strong focus on technology R&D, holding 12 invention patents and 127 software copyrights as of the report date[60]. - Research and development expenses rose by 12.30% to ¥26,579,907.93 compared to the same period last year[99]. - The number of R&D personnel increased to 345, representing 62.84% of the total workforce, up from 59.93% in the same period last year[100]. - Research and development expenses for the first half of 2021 were ¥26,579,907.93, compared to ¥23,667,825.76 in the previous year, showing an increase of about 12.1%[165]. Market and Industry Trends - The gaming industry in China showed resilience with a 20.71% year-on-year growth in actual sales revenue, reaching CNY 278.69 billion in 2020[28]. - The user base for cloud gaming is projected to grow significantly, with an expected increase from 1.63 million users in 2020 to 5.57 million by 2022[33]. - The cloud gaming market size is anticipated to expand from CNY 32.6 billion in 2020 to CNY 435.5 billion in 2023, reflecting a growing acceptance and willingness to pay among users[38]. - The IP adaptation mobile game market exceeded CNY 100 billion in revenue for the first time in 2020, indicating substantial market potential[40]. - The gaming industry is expected to continue its upward trajectory, supported by technological advancements and a growing user base[28]. Company Strategy and Partnerships - The company is focused on expanding its cloud gaming platform, leveraging advanced technologies to enhance user experience across various devices[44]. - The company aims to enhance its digital entertainment offerings through innovative platforms that cater to diverse gaming needs[44]. - The company has partnered with well-known enterprises such as Square Enix and Zhongyou Mobile to introduce popular game IPs, including "Xuan Yuan Sword" and "The Legend of Sword and Fairy"[48]. - The company plans to launch new game products to reduce reliance on existing key products, which currently include "Three Kingdoms 2017" and "Three Kingdoms: Strategic Edition"[121]. - The company has established strong partnerships with major game IP copyright holders, enhancing its IP acquisition channels and ensuring a rich resource pool for future projects[67]. Risks and Challenges - The company highlights risks related to product dependency, industry policy changes, and talent retention[5]. - The gaming industry faces regulatory risks, with a significant decrease in game approvals from 2,091 in 2018 to 1,314 in 2020[122]. - The company is expanding its cloud gaming platform but faces risks related to equipment procurement due to supply chain issues[123]. - The company emphasizes the importance of retaining core talent and has implemented equity incentives to attract and retain skilled personnel[124].

Financial Performance - Total operating revenue for Q1 2021 reached ¥301,179,257.81, an increase of 33.01% compared to ¥226,431,872.07 in the same period last year[8] - Net profit attributable to shareholders was ¥38,539,187.60, reflecting a growth of 51.41% from ¥25,453,424.17 year-on-year[8] - Basic earnings per share rose to ¥0.1606, up 51.37% from ¥0.1061 in the same period last year[8] - The total comprehensive income for the current period was ¥38,478,778.53, compared to ¥35,693,485.24 in the previous period, marking an increase of 7.9%[56] - The company’s total operating costs were ¥257,137,037.02, which is a 38.3% increase from ¥185,795,135.73 in the previous period[54] Cash Flow - Net cash flow from operating activities improved significantly to ¥7,813,514.26, a 156.39% increase from -¥13,856,017.21 in the previous year[8] - The net cash flow from operating activities was -24,371,601.40, a decrease from 2,644,447.88 in the previous period[65] - Cash inflow from operating activities totaled 78,615,265.42, down from 96,803,742.30 year-over-year[63] - Cash outflow from operating activities increased to 102,986,866.82 from 94,159,294.42 in the previous period[63] - The net cash flow from investing activities was -92,797,343.26, compared to 2,115,120.29 in the prior year[65] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,444,355,259.28, a decrease of 5.87% from ¥1,534,469,310.16 at the end of the previous year[8] - The company's total liabilities increased to ¥650.48 million in Q1 2021, compared to ¥419.07 million in Q4 2020, reflecting a rise of about 55%[50] - The company's equity attributable to shareholders decreased to ¥793.88 million in Q1 2021 from ¥1.07 billion in Q4 2020, a decline of approximately 26%[50] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,892[12] - The largest shareholder, Lai Chunlin, holds 33.40% of the shares, totaling 80,160,000 shares[13] Business Operations - The company's operating revenue increased by 33.01% compared to the same period last year, reaching ¥301,179,257.81, primarily due to growth in mobile advertising and gaming business revenue[26] - The company is expanding its mobile advertising agency business and exploring upstream and downstream opportunities in the gaming industry to diversify revenue sources[33] - The company plans to enhance its investment in cloud gaming technology and continue to seek high-quality cloud gaming content to enrich its resource pool[27] Market and Industry Trends - The gaming industry in China saw a 20.71% year-on-year increase in actual sales revenue, reaching ¥278.69 billion, with mobile gaming continuing to grow[31] - The company faces risks related to reliance on key products, particularly the "Three Kingdoms" series, which may significantly impact future performance[30] - The first major supplier accounted for over 30% of total purchases due to increased promotion costs for the overseas launch of "Three Kingdoms: Strategy Edition"[28] - The first major customer accounted for over 30% of total sales, driven by increased revenue from the overseas launch of "Three Kingdoms: Strategy Edition"[29] Challenges and Risks - The company is facing challenges in marketing due to the impact of COVID-19 on offline entertainment venues, particularly affecting its PC-based marketing business[35] - The company is focusing on continuous innovation to mitigate product and technology risks amid increasing competition in the online gaming industry[36] Talent and Governance - The company has implemented a fair assessment and incentive mechanism to retain core talent and enhance team creativity and vitality[40] - The company has not reported any violations regarding external guarantees or non-operating fund occupation by major shareholders during the reporting period[41][43]

Financial Performance - The company's operating revenue for 2020 was ¥895,876,744.19, representing a 35.59% increase compared to ¥660,724,957.07 in 2019[21] - The net profit attributable to shareholders for 2020 was ¥60,470,995.84, a 14.99% increase from ¥52,587,988.18 in 2019[21] - The net profit after deducting non-recurring gains and losses was ¥46,580,102.21, showing a 2.23% increase from ¥45,565,222.61 in 2019[21] - The net cash flow from operating activities was ¥110,608,864.85, up 33.69% from ¥82,738,062.32 in 2019[21] - The basic earnings per share for 2020 was ¥0.25, a 13.64% increase from ¥0.22 in 2019[21] - The total assets at the end of 2020 were ¥1,534,469,310.16, a slight decrease of 0.33% from ¥1,539,487,157.1 at the end of 2019[21] - The net assets attributable to shareholders increased by 5.01% to ¥1,073,965,102.48 at the end of 2020 from ¥1,022,734,788.3 at the end of 2019[21] - The weighted average return on net assets for 2020 was 5.76%, an increase of 0.53% from 5.23% in 2019[21] Revenue Breakdown - Revenue from the internet gaming segment reached ¥474,160,004.29, accounting for 52.93% of total revenue, with a significant year-on-year growth of 89.27%[64] - The internet marketing segment generated ¥405,544,416.95, which is 45.27% of total revenue, showing a modest increase of 3.20% compared to the previous year[64] - The IP operation business saw a remarkable growth of 301.80%, with revenue of ¥101,728,453.22, representing 11.36% of total revenue[64] - Revenue from regions outside mainland China increased by 122.84%, amounting to ¥325,520,132.38, which is 36.34% of total revenue[64] Cash Flow and Investments - Operating cash inflow increased by 32.82% year-on-year to ¥1,015,487,281.97, primarily due to significant cash inflow from the internet gaming business[110] - Operating cash outflow rose by 32.71% year-on-year to ¥904,878,417.12, mainly driven by increased costs associated with the internet gaming business[111] - Investment cash inflow decreased by 46.41% year-on-year to ¥578,446,997.54, primarily due to reduced redemption amounts of bank wealth management products[113] - Investment cash outflow decreased by 31.08% year-on-year to ¥671,813,050.54, as last year's outflow included a significant payment for acquiring equity in Tianxi Interactive[114] Market and Product Development - The company has expanded its product matrix, covering over 30% of the internet café market in China with its SaaS service platform[30] - The gaming platform "易乐玩" has accumulated a large user base and is actively expanding into overseas markets, covering over 30 countries and regions[31] - The cloud gaming service platform "随乐游" is being developed to meet the demand for instant gaming experiences across multiple devices[35] - The company is actively exploring cloud service products and user-oriented products, continuously enriching its product offerings to meet market demands[55] Strategic Plans and Risks - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company highlights risks related to product dependency, market structure changes, and potential talent loss[5] - The company plans to complete the acquisition of the remaining 30% stake in Tianxi Interactive Entertainment, further consolidating its gaming business[60] - The company aims to develop game service products, including a gaming social platform and esports event platform, to enhance user experience in the gaming service industry[133] Shareholder and Governance - The company has a total of 30,915 common shareholders at the end of the reporting period, an increase from 28,892 in the previous month[186] - The largest shareholder, Lai Chunlin, holds 33.40% of the shares, totaling 80,160,000 shares, with 60,120,000 shares under lock-up[186] - The company has a lock-up period for stock transfers, with a maximum of 25% of shares allowed to be sold annually after the lock-up period[159] - The company is committed to maintaining transparency in its shareholding structure and management changes[195] Social Responsibility and Compliance - The company donated 1.2 million CNY to support COVID-19 relief efforts, demonstrating its commitment to social responsibility[181] - The company has not been penalized for environmental violations during the reporting period and complies with relevant environmental laws[181] - The company has established strict protocols for related party transactions to protect shareholder interests[162]

Financial Performance - Total operating revenue for the reporting period was CNY 231,623,843.92, an increase of 25.83% year-on-year[7] - Net profit attributable to shareholders was CNY 19,640,861.91, a decrease of 7.97% compared to the same period last year[7] - The company’s net profit excluding non-recurring gains and losses was CNY 19,659,700.78, a decrease of 5.31% year-on-year[7] - Operating revenue for the first nine months of 2020 reached ¥671,465,559.41, an increase of 57.68% compared to ¥425,233,888.37 in the same period of 2019, primarily due to the acquisition of Tianxi Interactive in August 2019, which added new game IP operation revenue[18] - Total operating revenue for Q3 2020 reached CNY 231.62 million, an increase of 26% compared to CNY 184.08 million in Q3 2019[32] - Net profit for Q3 2020 was CNY 27.07 million, up from CNY 25.86 million in the same period last year, representing a growth of 4.7%[33] - Total operating revenue increased to ¥677,930,798.88 from ¥429,939,775.46, representing a growth of approximately 57.7% year-over-year[37] - Net profit rose to ¥81,738,997.57 compared to ¥40,741,715.54 in the previous period, marking an increase of about 100.5%[38] Cash Flow - Net cash flow from operating activities reached CNY 15,142,874.12, an increase of 212.93% year-on-year[7] - Net cash flow from operating activities rose significantly by 376.52% to ¥36,285,678.25, compared to ¥7,614,659.40 in the previous year, attributed to increased cash inflows from game IP operations[19] - Cash flow from operating activities generated ¥36,285,678.25, up from ¥7,614,659.40, indicating a significant improvement in cash generation capabilities[43] - The net cash flow from operating activities was -21,925,322.19, a decrease from 12,512,507.69 in the previous period[46] - Cash inflow from sales of goods and services was 286,325,097.69, a decrease from 391,414,330.72[46] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,538,575,566.03, a decrease of 0.06% compared to the end of the previous year[7] - The company’s total assets as of September 30, 2020, were ¥1,538,575,566.03, slightly down from ¥1,539,487,157.11 at the end of 2019[26] - The company’s total assets as of September 30, 2020, amounted to CNY 1.34 billion, an increase from CNY 1.28 billion at the end of 2019[30] - The total liabilities decreased to CNY 291.88 million in Q3 2020 from CNY 298.01 million in Q3 2019, reflecting a reduction of approximately 2.4%[31] Borrowings and Financing - Short-term borrowings increased by 950.00% to CNY 52,500,000.00, reflecting new bank loans[15] - The company’s short-term borrowings increased significantly to ¥52,500,000.00 from ¥5,000,000.00, indicating a strategic shift in financing[26] - Cash inflow from financing activities surged by 2129.12% to ¥52,884,149.35, largely due to increased short-term bank loans[19] - The company received 52,500,000.00 in new borrowings during the period[47] Government Support and Subsidies - The company recognized government subsidies amounting to CNY 3,641,882.01 during the reporting period[9] - Other income saw a remarkable increase of 324.23% to ¥6,491,401.97, primarily due to increased government subsidies during the reporting period[18] Investment and Expenses - Investment income decreased by 76.34% to ¥2,522,417.08 from ¥10,660,870.45, primarily due to reduced returns from external investments[18] - Research and development expenses for Q3 2020 were CNY 12.92 million, slightly up from CNY 12.89 million in Q3 2019[32] - Research and development expenses were maintained at ¥36,589,513.14, slightly down from ¥37,058,158.28, indicating continued investment in innovation[37] - Sales expenses decreased to ¥21,270,283.81 from ¥41,110,728.97, showing a reduction of about 48.3%[37] Future Plans - The company plans to issue A-shares to specific investors to raise funds for projects including cloud gaming services, game licensing and operation, and big data and cloud storage platform upgrades[21] - The company plans to continue focusing on market expansion and new product development to drive future growth[32]

Financial Performance - Total operating revenue for the first half of 2020 was CNY 446,306,954.96, representing an increase of 81.53% compared to CNY 245,857,325.07 in the same period last year[23]. - Net profit attributable to shareholders was CNY 38,768,217.64, a significant increase of 160.52% from CNY 14,881,261.82 year-on-year[23]. - The net profit after deducting non-recurring gains and losses reached CNY 36,277,321.69, up 217.94% from CNY 11,410,283.59 in the previous year[23]. - Basic earnings per share increased to CNY 0.1615, reflecting a growth of 160.48% compared to CNY 0.0620 in the same period last year[23]. - The gross profit margin for the internet gaming segment decreased by 6.60% compared to the previous year, while the gross margin for the internet marketing segment fell by 13.12%[64]. - The company reported a total operating cost of CNY 390,750,257.97 for the first half of 2020, which is an increase of 62.3% from CNY 240,702,168.13 in the first half of 2019[164]. - The company achieved a gross profit margin of approximately 12.5% in the first half of 2020, compared to 2.1% in the first half of 2019[164]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,538,786,914.26, a slight decrease of 0.05% from CNY 1,539,487,157.11 at the end of the previous year[23]. - The company's total liabilities decreased to CNY 409,111,220.10 from CNY 459,218,137.21, indicating a reduction of approximately 10.9%[158]. - The total equity attributable to shareholders increased to CNY 1,056,239,784.97 from CNY 1,022,734,788.30, reflecting a growth of about 3.3%[160]. - The proportion of monetary funds decreased by 30.11% to CNY 674,558,476.10, mainly due to payments related to the acquisition of Tianxi Interactive Entertainment[103]. - The total liabilities to equity ratio improved to approximately 0.39 from 0.45, indicating a stronger equity position relative to liabilities[158]. Market and Product Development - The company has a market share of over 30% in the Chinese internet café market through its SaaS service platform, Yile You, which provides unified management and automated operations for café owners[27]. - The company has developed a diverse gaming operation platform, "Yile Wan," which has accumulated a massive number of registered users and is expanding its overseas gaming operations to 20 countries and regions[28]. - The company is actively expanding its product matrix and service offerings, targeting diverse user scenarios from internet cafés to digital entertainment venues[26]. - The company is focusing on cloud gaming services through its platform, "Sui Le You," which aims to meet the instant gaming needs of modern players[32]. - The company is actively pursuing the overseas release of "Three Kingdoms: Strategy Edition" and the development of "Dynasty Warriors" and "Age of Discovery 4" as part of its growth strategy[59]. Risks and Challenges - The report highlights risks related to the COVID-19 pandemic, market structure changes, and reliance on single products[5]. - The company faces risks from changes in industry policies, particularly regarding game approvals and regulations, which could impact its operations[118]. - The company’s marketing business is expected to continue facing challenges until the impact of the pandemic on offline entertainment activities is fully resolved[113]. Research and Development - R&D expenses totaled ¥23,667,825.76, a decrease of 2.08% compared to the previous year, with R&D personnel accounting for 59.93% of the workforce[91]. - The company holds 12 invention patents and 54 software copyrights, demonstrating its commitment to innovation and product development[50]. - The company is committed to continuous product innovation to meet the increasing demands of mature gaming users in a competitive market[119]. Shareholder and Corporate Governance - The company held a temporary shareholders' meeting with a participation rate of 48.33% on January 3, 2020[127]. - The company is committed to maintaining a transparent stock transfer process, with restrictions on share transfers for 36 months post-IPO[128]. - The company has implemented strict compliance with stock transfer commitments, ensuring no share transfers occur within the first twelve months post-IPO[131]. - The company has established a fair assessment and incentive mechanism to retain core talent, ensuring the stability of its R&D, operations, and management teams[120]. Social Responsibility - The company donated 1.2 million RMB to support COVID-19 relief efforts during the pandemic[137]. - The company has not engaged in any significant environmental violations and is not classified as a key pollutant by environmental authorities[135]. - The company has not initiated any targeted poverty alleviation programs in the reporting period and has no plans for such initiatives[136].

Financial Performance - Total revenue for Q1 2020 reached ¥226,431,872.07, an increase of 89.27% compared to ¥119,632,095.21 in the same period last year[8] - Net profit attributable to shareholders was ¥25,453,424.17, representing a significant increase of 468.97% from ¥4,473,572.91 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥25,676,095.55, up 592.65% from ¥3,706,933.97 in the previous year[8] - Basic earnings per share rose to ¥0.1061, a 470.43% increase from ¥0.0186 in the same period last year[8] - The weighted average return on equity increased to 2.46%, up from 0.45% year-on-year, reflecting improved profitability[8] - The company's operating revenue increased by 89.27% compared to the same period last year, primarily due to the acquisition of Shanghai Tianxi Interactive Network Technology Co., which added IP operation, game operation, and IP licensing revenue[27] - Total operating revenue increased to ¥226,431,872.07, up 89.5% from ¥119,632,095.21 in the previous period[55] - Net profit reached ¥35,669,550.85, compared to ¥4,473,572.91 in the prior period, representing a significant increase[55] - Operating profit improved to ¥41,033,037.71, a rise from ¥4,611,140.79 in the previous period[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,581,520,545.90, a 2.73% increase from ¥1,539,487,157.11 at the end of the previous year[8] - Net assets attributable to shareholders increased to ¥1,048,207,077.69, up 2.49% from ¥1,022,734,788.30 at the end of the previous year[8] - The company's total liabilities increased to ¥465.56 million in Q1 2020 from ¥459.22 million in Q4 2019, indicating a rise of about 1.5%[49] - Total liabilities decreased to ¥290,453,102.38 from ¥298,009,927.04, reflecting a reduction of 2%[52] - The total equity decreased slightly to ¥978,773,961.20 from ¥980,220,815.74, a decline of 0.15%[52] Cash Flow - The net cash flow from operating activities was negative at -¥13,856,017.21, worsening by 130.05% compared to -¥6,022,979.06 in the same period last year[8] - The cash inflow from operating activities totaled ¥215,672,743.49, a 50.48% increase from ¥143,322,380.43 in the previous year, mainly due to the new subsidiary Tianxi Interactive's contributions[23] - The cash outflow from operating activities was ¥229,528,760.70, reflecting a 53.69% increase from ¥149,345,359.49, attributed to increased external procurement expenses and the new subsidiary's operational costs[23] - Cash flow from operating activities showed a net outflow of ¥13,856,017.21, worsening from a net outflow of ¥6,022,979.06 in the previous period[59] - The company reported a significant increase in cash inflow from operating activities to ¥215,672,743.49, compared to ¥143,322,380.43 in the previous period[59] - The net cash flow from financing activities was -¥5,105,540.62, a significant decrease of 817.20% compared to the previous year, mainly due to the repayment of short-term bank loans[26] - The company reported a net cash outflow of 73,420,679.28 in cash and cash equivalents, contrasting with a net increase of 144,756,134.14 in the prior period[61] - The company’s financing activities resulted in a net cash outflow of 11,035,027.06, compared to a net outflow of 556,641.27 last year[64] Operational Efficiency - The company's sales expenses decreased by 67.95% to ¥4,859,335.30, mainly due to reduced promotional expenses in internet cafes impacted by the COVID-19 pandemic[23] - The company recorded a decrease in sales expenses to ¥4,859,335.30 from ¥15,162,121.97, reflecting improved operational efficiency[55] - Research and development expenses were ¥12,476,195.80, slightly down from ¥13,177,608.90, indicating a focus on cost management[55] Market and Strategic Outlook - The company plans to enhance its cloud computing and data platform investments to drive strategic development[28] - The company faces regulatory risks in the gaming industry due to stricter approval requirements for game licenses, which could adversely affect its performance[33] - The actual sales revenue of the Chinese mobile game market continues to rise, while the client and web game markets are shrinking, leading to a significant decline in revenue and market share[34] - The company plans to launch new game products, with expectations that some will become key revenue drivers, although future performance remains dependent on a few major products[35] - The company is focusing on mobile product development and emulator efforts, but risks exist if the pace of development does not keep up with market changes[34] Shareholder Information - The total number of shareholders at the end of the reporting period was 25,573, with the largest shareholder holding 33.40% of the shares[13] - The company reported no overdue commitments from major stakeholders during the reporting period[40] - The company has not engaged in any fundraising activities during the reporting period[41] Financial Assets - The company's financial assets increased by 117.20% to ¥100,000,000.00, primarily due to the rise in unexpired financial products at the end of the reporting period[20] - The company's short-term borrowings decreased by 100% to ¥0, as the company repaid its bank loans during the reporting period[20] - The company received government subsidies amounting to ¥251,200.00 during the reporting period[9]

Financial Performance - The company's operating revenue for 2019 was ¥660,724,957.07, representing a 33.00% increase compared to ¥496,778,863.65 in 2018[23]. - The net profit attributable to shareholders for 2019 was ¥52,587,988.18, a decrease of 1.60% from ¥53,441,487.33 in 2018[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥45,565,222.61, which is a 24.56% increase from ¥36,580,678.06 in 2018[23]. - The net cash flow from operating activities for 2019 was ¥82,738,062.32, a significant increase of 11,156.46% compared to ¥735,027.67 in 2018[23]. - The total assets at the end of 2019 were ¥1,539,487,157.11, reflecting a 38.10% increase from ¥1,114,794,190.64 at the end of 2018[23]. - The company reported a total operating revenue of ¥230,785,181.61 in Q4 2019, with a quarterly net profit of ¥16,363,887.23[24]. - The company achieved a revenue of 660.725 million, representing a year-on-year growth of 33%[68]. - The net profit attributable to shareholders was 52.588 million, remaining stable compared to the previous year[68]. - Internet value-added service revenue increased by 78.43% year-on-year, reflecting the company's efforts to enhance monetization capabilities in the mobile sector[68]. - The total non-recurring gains and losses for 2019 amounted to ¥7,022,765.57, down from ¥16,860,809.27 in 2018[25]. Acquisitions and Investments - The company completed the acquisition of Shanghai Tianxi Interactive Entertainment in August 2019, leading to a 128.72% year-on-year increase in game operation and licensing revenue[71]. - The company acquired Tianxi Interactive Entertainment, significantly increasing its intangible assets by 2552.67% due to game copyrights and development costs[56]. - The company completed the acquisition of Tianxi Interactive and its subsidiaries, which were included in the consolidated financial statements starting August 2019[91]. - The company has engaged in significant equity investments during the reporting period, although specific details were not disclosed[123]. - The company has committed to a cumulative net profit of not less than 308.4 million yuan from 2019 to 2022, with specific annual targets of 60 million yuan, 64.8 million yuan, 77.76 million yuan, and 81 million yuan respectively[182]. Market Position and Strategy - The company is focused on expanding its market presence and enhancing its product offerings[5]. - The company holds a second-place market share in the national internet entertainment platform products within the internet café market[55]. - The company has established deep partnerships with renowned game IP copyright holders, enhancing its game IP resource pool[61]. - The company aims to consolidate and expand its game and IP operations, focusing on the development and global distribution of titles like "Romance of the Three Kingdoms: Strategy Edition"[154]. - The company plans to enhance cloud services and deploy cloud data centers near internet cafes to meet user demands for real-time response and data processing[151]. Innovation and Development - The report emphasizes the importance of product and technology innovation to mitigate operational risks[5]. - The company has 12 invention patents and 54 software copyrights, indicating a strong focus on innovation and product development[60]. - The company is increasing efforts to develop mobile products and simulators to adapt to market changes[161]. - The company launched a cloud gaming product that allows users to play multiple games without the need for downloads or installations, improving user experience[71]. - The "随乐游" platform is in development for cloud gaming services, achieving a latency of 0-25ms and 1080p quality at 60fps[45]. Risks and Challenges - The company highlights risks related to industry policy changes, market structure shifts, and reliance on single products[5]. - The gaming industry faces regulatory risks, with the number of game approvals dropping from 2,091 in 2018 to 1,835 in 2019 due to stricter policies[158]. - The company faces risks from product and technology innovation as competition intensifies in the mature online gaming industry[163]. - There is a risk of core talent loss, which could negatively impact the company's competitive advantage if not managed effectively[164]. - The company's sales revenue and market share have significantly declined, particularly in the traditional online gaming advertising and promotion business[161]. Corporate Governance and Compliance - The board of directors has confirmed the accuracy and completeness of the financial report for the year[6]. - The company has established a commitment to avoid related party transactions that could harm its interests, ensuring fair and reasonable dealings[181]. - The stock lock-up period for major shareholders is set for 36 months post-IPO, with a maximum annual reduction of 25% of their holdings thereafter[178]. - The company has pledged to adhere to legal regulations regarding stock transfer and lock-up periods, ensuring compliance and transparency in share transactions[178]. - The company has implemented a fair assessment and incentive mechanism to retain core talent and attract industry professionals[164]. Social Responsibility and Environmental Compliance - The company has actively fulfilled its social responsibilities, creating value for shareholders while supporting employees and local economic development[197]. - The company has complied with environmental protection laws and has not faced any penalties for violations during the reporting period[199]. - The company has not conducted any targeted poverty alleviation work during the reporting year and has no subsequent plans[198]. Financial Management and Reporting - The company plans to distribute a cash dividend of 0.22 CNY per 10 shares based on a total of 240,000,000 shares[5]. - The cash dividend policy requires at least 10% of the annual distributable profit to be distributed in cash, with a cumulative distribution of at least 30% over the last three years[168]. - The company reported a net profit attributable to shareholders of 52,587,988.18 yuan for 2019, with an undistributed profit of 380,206,029.18 yuan at year-end[169]. - The company has adjusted its cash dividend policy to ensure a minimum cash distribution of 10% of the annual distributable profit[168]. - The company has implemented changes in accounting policies and estimates in accordance with new financial instrument accounting standards effective from January 1, 2019[186].

Financial Performance - Total revenue for Q1 2020 reached ¥226,431,872.07, an increase of 89.27% compared to ¥119,632,095.21 in the same period last year[8] - Net profit attributable to shareholders was ¥25,452,413.62, representing a significant increase of 468.95% from ¥4,473,572.91 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥25,670,750.63, up 592.51% from ¥3,706,933.97 in the previous year[8] - Basic earnings per share rose to ¥0.1061, a 470.43% increase from ¥0.0186 in the same period last year[8] - The weighted average return on equity improved to 2.46%, compared to 0.45% in the previous year[8] - Total operating revenue for the current period reached ¥226,431,872.07, a significant increase of 89.4% compared to ¥119,632,095.21 in the previous period[55] - Net profit for the current period was ¥35,668,435.45, compared to ¥4,473,572.91 in the previous period, reflecting a substantial growth[55] - Basic earnings per share increased to ¥0.1061 from ¥0.0186, indicating improved profitability on a per-share basis[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,580,680,247.86, a 2.74% increase from ¥1,538,540,651.52 at the end of the previous year[8] - The company reported a total liability of approximately ¥465.09 million as of March 31, 2020, which is a slight increase from ¥458.65 million at the end of 2019[49] - The total liabilities decreased slightly to ¥290,453,102.38 from ¥298,009,927.04, indicating a reduction in financial obligations[52] - The company’s total equity decreased to ¥978,773,961.20 from ¥980,220,815.74, showing a minor decline in shareholder equity[52] - The company's equity attributable to shareholders reached approximately ¥1.05 billion as of March 31, 2020, up from ¥1.02 billion at the end of 2019, indicating a growth of about 3.2%[49] Cash Flow - The net cash flow from operating activities was negative at -¥15,484,017.87, worsening by 157.08% compared to -¥6,022,979.06 in the same period last year[8] - The cash flow from operating activities showed a net outflow of ¥15,484,017.87, worsening from a net outflow of ¥6,022,979.06 in the previous period[59] - The company's cash and cash equivalents decreased to ¥586.15 million as of March 31, 2020, down from ¥659.57 million at the end of 2019, representing a decline of approximately 11.1%[47] - Total cash and cash equivalents at the end of the period decreased to ¥586,149,333.59 from ¥678,455,938.98, reflecting a decline of 13.6%[61] - The net increase in cash and cash equivalents for the current period was -¥73,421,445.17, contrasting with an increase of ¥144,756,134.14 in the previous period[61] - Cash inflow from operating activities decreased to ¥96,803,134.77, down 29.6% from ¥137,569,676.97[62] - Cash outflow from financing activities totaled ¥5,111,404.53, significantly higher than ¥610,597.58 in the previous period[61] Operational Insights - The company's operating revenue increased by 89.27% compared to the same period last year, primarily due to the acquisition of Shanghai Tianxi Interactive Network Technology Co., which added game operation and IP licensing revenue[27] - The company's financial assets increased by 117.20%, reaching ¥100,000,000, mainly due to the increase in unexpired financial products at the end of the reporting period[21] - The company's short-term borrowings decreased by 100% to ¥5,000,000, as the company repaid bank loans at the end of the reporting period[21] - The company's sales expenses decreased by 67.95% to ¥4,859,335, primarily due to reduced promotional expenses in internet cafes during the COVID-19 pandemic[21] - The company plans to launch new game products, which are expected to become key revenue drivers, despite the ongoing reliance on a few major products[35] - The company is focusing on product innovation and internal control improvements to mitigate risks associated with market competition and user expectations[36] Risks and Challenges - The company faces risks from regulatory changes in the gaming industry, which could adversely affect its product promotion and overall performance[31] - The majority of revenue for the wholly-owned subsidiary Shanghai Tianxi Interactive Network Technology Co., Ltd. in 2019 came from the mobile online game "Three Kingdoms 2017," indicating a significant reliance on a single product[35] - There were no overdue commitments or violations regarding external guarantees during the reporting period, indicating a stable financial management environment[40][42][43] Investment and Development - Research and development expenses were reported at ¥12,476,195.80, a decrease of 5.3% from ¥13,177,608.90 in the previous period, suggesting a potential shift in investment strategy[55] - The company has implemented a fair assessment and incentive mechanism to retain core talent, which is crucial for maintaining its competitive advantage[37] - The company plans to continue exploring user-oriented products and various business models while enhancing cloud computing and data platform investments[28]

Financial Performance - Total revenue for the period was ¥184,082,450.39, representing a growth of 29.10% year-on-year[8]. - Net profit attributable to shareholders was ¥21,342,839.13, up 44.35% compared to the same period last year[8]. - The net profit after deducting non-recurring gains and losses was ¥20,763,119.99, an increase of 55.17% year-on-year[8]. - Basic earnings per share were ¥0.0889, reflecting a growth of 44.32% compared to the previous year[8]. - The weighted average return on equity was 2.14%, an increase from 0.63% in the previous year[8]. - The company reported a 507.18% increase in investment income, reaching CNY 3.34 million, primarily from investments in joint ventures[26]. - The total comprehensive income for Q3 2019 was CNY 25,885,333.16, compared to CNY 14,785,002.15 in the same period last year[45]. - Net profit for Q3 2019 reached CNY 25,860,453.72, up 75.0% from CNY 14,785,002.15 in Q3 2018[45]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,498,963,550.94, an increase of 34.46% compared to the end of the previous year[8]. - The total liabilities increased to ¥445,271,726.08, up from ¥126,140,686.00 in the previous year[36]. - The total equity attributable to shareholders of the parent company reached ¥1,006,657,557.01, compared to ¥988,653,504.64 at the end of the previous year[36]. - The company's financial assets increased significantly due to reclassification of wealth management products to trading financial assets, totaling CNY 210 million[19]. - Accounts receivable surged by 200.38% to CNY 268.18 million, primarily due to large receivables from the acquisition of Tianxi Interactive Entertainment[19]. - Intangible assets rose dramatically by 2559.01% to CNY 58.02 million, mainly from game copyrights and development costs associated with the acquisition[19]. - The accounts payable increased by 341.78% to CNY 186.59 million, largely due to payables from the acquisition of Tianxi Interactive Entertainment[22]. Cash Flow - The net cash flow from operating activities was ¥7,614,659.40, showing an increase of 85.99%[8]. - The company’s cash inflow from operating activities rose by 20.06% to CNY 480.81 million compared to the previous year[27]. - Total cash inflow from investing activities reached ¥653,975,257.11, marking a 70.36% increase, mainly driven by an increase in bank wealth management product redemptions[29]. - The total cash outflow from financing activities was ¥64,638,987.00, which represents a 154.14% increase, primarily due to the repayment of short-term bank loans during the reporting period[29]. - The company reported a net cash outflow from investing activities of ¥61,882,710.38, an improvement of 70.43% compared to the previous period[29]. - Cash flow from operating activities generated a net inflow of CNY 7,614,659.40, compared to CNY 4,094,137.77 in the previous year[61]. Expenses - The company reported a 36.57% increase in operating costs, amounting to CNY 309.09 million, driven by higher network promotion and game sharing costs[23]. - The company’s management expenses increased by 33.32% to CNY 22.39 million, mainly due to higher employee compensation[23]. - Research and development expenses increased to CNY 12,886,888.10, representing an increase of 16.8% from CNY 11,034,213.61 in the previous year[43]. - Total operating costs for Q3 2019 were CNY 164,359,532.89, an increase of 26.4% from CNY 129,893,132.65 in the same period last year[43]. - The company reported a decrease in sales expenses to CNY 12,196,134.17, down 30.8% from CNY 17,638,255.12 in Q3 2018[43]. Shareholder Information - The total number of shareholders at the end of the reporting period was 22,906[13]. - The largest shareholder, Lai Chunlin, holds 33.40% of the shares, amounting to 80,160,000 shares[13]. Acquisitions - The company completed the acquisition of 70% equity in Shanghai Tianxi Interactive Entertainment Network Technology Co., Ltd. during the reporting period[30].