```markdown [PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Interim Financial Statements](index=3&type=section&id=Item%201.%20Interim%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q1 2021, detailing financial position, performance, cash flows, and significant accounting policies Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2021 (Unaudited) | December 31, 2020 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $15,785 | $4,297 | | **Total Current Assets** | $26,540 | $12,884 | | **Total Assets** | $38,627 | $20,667 | | **Warrant liabilities** | $10,919 | $1,505 | | **Total Liabilities** | $20,267 | $8,188 | | **Total Equity** | $18,360 | $12,479 | - **Total assets nearly doubled**, primarily driven by a significant increase in cash and cash equivalents resulting from financing activities. Warrant liabilities also saw a substantial increase from **$1.5 million** to **$10.9 million**[6](index=6&type=chunk) Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended Mar 31, 2021 | Three Months Ended Mar 31, 2020 | | :--- | :--- | :--- | | **Total Revenues** | $8,396 | $4,384 | | **Gross (Loss)/Profit** | $(717) | $899 | | **Loss from Operations** | $(1,815) | $(2,276) | | **Change in fair value of warrant liabilities** | $2,507 | $46 | | **Net Income/(Loss)** | $687 | $(2,310) | | **Basic and Diluted EPS** | $0.02 | $(0.11) | - The company's **revenue nearly doubled** year-over-year. Despite a **gross loss**, the company achieved **net income** primarily due to a significant non-cash gain of **$2.5 million** from the change in fair value of warrant liabilities[12](index=12&type=chunk) Consolidated Statements of Cash Flows Highlights (in thousands) | Metric | Three Months Ended Mar 31, 2021 | Three Months Ended Mar 31, 2020 | | :--- | :--- | :--- | | **Net cash (used in)/provided by operating activities** | $(3,706) | $1,518 | | **Net cash used in investing activities** | $(1,865) | $(1,117) | | **Net cash provided by/(used in) financing activities** | $17,111 | $(430) | | **Net increase/(decrease) in cash** | $11,488 | $(48) | - The company's **cash position significantly improved** due to **$17.1 million** in net cash from financing activities, which involved the issuance of common stock and warrants. This inflow offset cash used in operating and investing activities[19](index=19&type=chunk) Notes to Condensed Consolidated Financial Statements - The company conducts certain business in the PRC through Variable Interest Entities (VIEs). As of March 31, 2021, these VIEs held total assets of **$10.0 million** and total liabilities of **$7.7 million**[29](index=29&type=chunk)[30](index=30&type=chunk) - In February 2021, the company completed a registered direct offering, raising gross proceeds of approximately **$18.7 million** by issuing **5,212,000 shares** of common stock and warrants. The warrants are accounted for as derivative liabilities measured at fair value[87](index=87&type=chunk)[92](index=92&type=chunk) - The company is developing two blockchain technology-based platform applications, OMG and Bo!News, with capitalized development costs of approximately **$4.40 million** as of March 31, 2021[74](index=74&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2021 revenue growth, a gross loss, and improved net income and liquidity driven by reduced expenses and financing activities Revenue by Service Type (in thousands) | Revenue Type | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Internet advertising and related services | $8,267 | $3,236 | | Ecommerce O2O advertising and marketing services | $129 | $503 | | Technical solution services | $- | $645 | | **Total Revenues** | **$8,396** | **$4,384** | - **Total revenues increased by 91.7%** year-over-year, primarily due to the recovery of the Internet advertising and search engine marketing services business following the containment of COVID-19 in China[159](index=159&type=chunk)[160](index=160&type=chunk) - The company experienced a **gross loss of $0.72 million (-9% margin)** compared to a **gross profit of $0.90 million (21% margin)** in the prior year. The loss was driven by a negative margin in the search engine marketing service segment, as resource costs from suppliers increased while the company did not pass these costs on to clients to maintain its customer base[164](index=164&type=chunk)[166](index=166&type=chunk)[168](index=168&type=chunk) - **Total operating expenses decreased from $3.18 million to $1.10 million**, largely due to a **significant reduction** in share-based compensation expenses compared to Q1 2020[170](index=170&type=chunk)[172](index=172&type=chunk) Net Cash Flow Summary (in thousands) - As of March 31, 2021, the company had cash and cash equivalents of approximately **$15.8 million**[179](index=179&type=chunk) | Cash Flow Activity | Three Months Ended Mar 31, 2021 | Three Months Ended Mar 31, 2020 | | :--- | :--- | :--- | | Operating Activities | $(3,706) | $1,518 | | Investing Activities | $(1,865) | $(1,117) | | Financing Activities | $17,111 | $(430) | - The company's **liquidity was significantly enhanced** by a financing activity in Q1 2021, which generated net proceeds of approximately **$17.1 million**[190](index=190&type=chunk) - As of March 31, 2021, net assets of the company's PRC subsidiaries and VIEs restricted from transfer to the parent company amounted to approximately **$13.2 million**[193](index=193&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is omitted as the company qualifies as a smaller reporting company - The company has **omitted** this information as it is a smaller reporting company[198](index=198&type=chunk) [Item 4. Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2021, with no material changes to internal control over financial reporting - Based on an evaluation, the principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were **effective** as of March 31, 2021[198](index=198&type=chunk) - There were **no changes** in internal control over financial reporting during the first fiscal quarter of 2021 that materially affected, or are reasonably likely to materially affect, internal controls[199](index=199&type=chunk) [PART II. OTHER INFORMATION](index=44&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal or administrative proceedings - The company is **not currently a party** to any material legal or administrative proceedings[200](index=200&type=chunk) [Item 1A. Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) This information is omitted as the company is a smaller reporting company - This information has been **omitted** based on the Company's status as a smaller reporting company[201](index=201&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds were reported for the period - **None reported** for the period[201](index=201&type=chunk) [Item 6. Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed, including officer certifications and Interactive Data Files - The exhibits filed with this report include officer certifications pursuant to Sarbanes-Oxley Act Sections 302 and 906, and Interactive Data Files[202](index=202&type=chunk) ```

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 CNET Nasdaq Capital Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to _____ Commission Fi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 CNET Nasdaq Capital Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to _____ Commission File Nu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 CNET Nasdaq Capital Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to _____ Commission File N ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ COMMISSION FILE NO. 001-34647 CHINANET ONLINE HOLDINGS, INC. (Exact name of registrant as specified in its charter) NEVADA 20-4672080 (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to _____ Commission File Number: 001-34647 ChinaNet Online Holdings, Inc. (Exact name of registrant as specified in its charter) Nevada 20-4672080 (State or oth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to _____ Commission File Number: 001-34647 ChinaNet Online Holdings, Inc. (Exact name of registrant as specified in its charter) Nevada 20-4672080 (State or other ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered $0.001 Common Stock CNET Nasdaq Capital Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to _____ Commission File Number: 001- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ COMMISSION FILE NO. 001-34647 CHINANET ONLINE HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...