2024 Q2 Form 10-K Financial Statement

#000117184324003699 Filed on June 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $6.420M $5.268M $30.59M
YoY Change -34.62% 19.13% 16.58%
Cost Of Revenue $6.092M $5.275M $31.02M
YoY Change -38.66% 14.23% 17.37%
Gross Profit $328.0K -$7.000K -$436.0K
YoY Change -395.5% -96.43% 124.74%
Gross Profit Margin 5.11% -0.13% -1.43%
Selling, General & Admin $629.0K $521.0K $4.328M
YoY Change -48.65% -80.39% -49.52%
% of Gross Profit 191.77%
Research & Development $0.00 -$1.000K $20.00K
YoY Change -102.08% -91.27%
% of Gross Profit 0.0%
Depreciation & Amortization $30.00K $322.0K $1.288M
YoY Change 0.0% -41.98% -41.85%
% of Gross Profit 9.15%
Operating Expenses $629.0K $520.0K $5.576M
YoY Change -48.65% -80.78% -48.96%
Operating Profit -$301.0K -$527.0K -$6.012M
YoY Change -77.47% -81.83% -45.93%
Interest Expense $76.00K $68.00K $298.0K
YoY Change -3.8% 240.0% 156.9%
% of Operating Profit
Other Income/Expense, Net $68.00K -$4.000K $36.00K
YoY Change -200.0% -100.37% -97.28%
Pretax Income -$233.0K -$1.910M -$5.976M
YoY Change -83.4% -57.75% -38.98%
Income Tax -$1.000K -$2.000K -$2.000K
% Of Pretax Income
Net Earnings -$216.0K -$1.908M -$5.974M
YoY Change -84.6% -57.79% -38.98%
Net Earnings / Revenue -3.36% -36.22% -19.53%
Basic Earnings Per Share -$0.03 -$0.83
Diluted Earnings Per Share -$0.03 -$0.26 -$0.83
COMMON SHARES
Basic Shares Outstanding 7.205M 7.205M 7.195M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $510.0K $817.0K $817.0K
YoY Change -74.5% -81.39% -81.39%
Cash & Equivalents $510.0K $820.0K $817.0K
Short-Term Investments
Other Short-Term Assets $2.362M $2.794M $7.299M
YoY Change -22.38% 73.54% 18.16%
Inventory
Prepaid Expenses
Receivables $1.178M $844.0K $844.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.373M $8.960M $8.960M
YoY Change -10.17% -27.23% -27.23%
LONG-TERM ASSETS
Property, Plant & Equipment $158.0K $215.0K $237.0K
YoY Change -17.28% -13.65% -88.21%
Goodwill $78.00K $0.00
YoY Change
Intangibles $435.0K $841.0K
YoY Change -83.68% -74.23%
Long-Term Investments $397.0K $794.0K $794.0K
YoY Change -60.3% -50.25% -50.25%
Other Assets $402.0K $401.0K $401.0K
YoY Change -12.23% -15.58% -15.58%
Total Long-Term Assets $1.470M $2.273M $2.273M
YoY Change -74.71% -69.05% -69.05%
TOTAL ASSETS
Total Short-Term Assets $9.373M $8.960M $8.960M
Total Long-Term Assets $1.470M $2.273M $2.273M
Total Assets $10.84M $11.23M $11.23M
YoY Change -33.26% -42.86% -42.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $338.0K $201.0K $201.0K
YoY Change 65.69% -1.95% -1.95%
Accrued Expenses $167.0K $374.0K $374.0K
YoY Change -56.85% -52.36% -52.36%
Deferred Revenue $976.0K $843.0K
YoY Change 7.02% 14.07%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.424M $4.855M $4.855M
YoY Change 9.2% -14.82% -14.82%
LONG-TERM LIABILITIES
Long-Term Debt $123.0K $124.0K $124.0K
YoY Change 1.65% -1.59% -1.59%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $123.0K $124.0K $124.0K
YoY Change -91.76% -92.53% -92.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.424M $4.855M $4.855M
Total Long-Term Liabilities $123.0K $124.0K $124.0K
Total Liabilities $5.550M $4.979M $4.979M
YoY Change -14.07% -32.36% -32.36%
SHAREHOLDERS EQUITY
Retained Earnings -$60.76M -$59.69M
YoY Change 7.99% 11.52%
Common Stock $7.000K $7.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.234M $6.254M $6.254M
YoY Change
Total Liabilities & Shareholders Equity $10.84M $11.23M $11.23M
YoY Change -33.26% -42.86% -42.86%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$216.0K -$1.908M -$5.974M
YoY Change -84.6% -57.79% -38.98%
Depreciation, Depletion And Amortization $30.00K $322.0K $1.288M
YoY Change 0.0% -41.98% -41.85%
Cash From Operating Activities -$677.0K -$476.0K -$2.010M
YoY Change -1353.7% -139.02% -36.97%
INVESTING ACTIVITIES
Capital Expenditures $3.000K $29.00K $81.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $645.0K -$9.000K $0.00
YoY Change 55.42% -100.87% -100.0%
Cash From Investing Activities $642.0K -$38.00K -$1.537M
YoY Change 54.7% -103.69% -378.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 70.00K 0.000 $0.00
YoY Change
NET CHANGE
Cash From Operating Activities -677.0K -476.0K -$2.010M
Cash From Investing Activities 642.0K -38.00K -$1.537M
Cash From Financing Activities 70.00K 0.000 $0.00
Net Change In Cash 35.00K -514.0K -$3.574M
YoY Change -92.54% -122.83% 28.47%
FREE CASH FLOW
Cash From Operating Activities -$677.0K -$476.0K -$2.010M
Capital Expenditures $3.000K $29.00K $81.00K
Free Cash Flow -$680.0K -$505.0K -$2.091M
YoY Change -141.39% -34.43%

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GainLossOnTerminationOfLease
138000 usd
CY2022 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
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CY2023 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
300000 usd
CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
113000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
276000 usd
CY2023 cnet Increase Decrease In Prepayment And Deposit To Suppliers
IncreaseDecreaseInPrepaymentAndDepositToSuppliers
-36000 usd
CY2022 cnet Increase Decrease In Prepayment And Deposit To Suppliers
IncreaseDecreaseInPrepaymentAndDepositToSuppliers
-1652000 usd
CY2023 us-gaap Increase Decrease In Due From Related Parties
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CY2022 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
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CY2023 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-3000 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-2000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-848000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
115000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-420000 usd
CY2023 cnet Increase Decrease In Accrued Payroll And Other Accruals
IncreaseDecreaseInAccruedPayrollAndOtherAccruals
-80000 usd
CY2022 cnet Increase Decrease In Accrued Payroll And Other Accruals
IncreaseDecreaseInAccruedPayrollAndOtherAccruals
60000 usd
CY2023 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-184000 usd
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
836000 usd
CY2023 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-4000 usd
CY2022 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-6000 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-343000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-302000 usd
CY2023 cnet Increase Decrease In Shortterm Lease Liability
IncreaseDecreaseInShorttermLeaseLiability
0 usd
CY2022 cnet Increase Decrease In Shortterm Lease Liability
IncreaseDecreaseInShorttermLeaseLiability
-40000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2012000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3189000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
81000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
-0 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
14000 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
CY2023 us-gaap Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
3000 usd
CY2022 us-gaap Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
-0 usd
CY2023 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
64000 usd
CY2022 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
-0 usd
CY2023 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
3000 usd
CY2022 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
0 usd
CY2023 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
426000 usd
CY2022 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 usd
CY2023 us-gaap Proceeds From Sale Maturity And Collection Of Longterm Investments
ProceedsFromSaleMaturityAndCollectionOfLongtermInvestments
0 usd
CY2022 us-gaap Proceeds From Sale Maturity And Collection Of Longterm Investments
ProceedsFromSaleMaturityAndCollectionOfLongtermInvestments
12000 usd
CY2023 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
2000000 usd
CY2022 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
2600000 usd
CY2023 us-gaap Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
168000 usd
CY2022 us-gaap Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
2140000 usd
CY2023 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-0 usd
CY2022 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1000000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1537000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
552000 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1600000 usd
CY2023 cnet Proceeds From Issuance Of Common Stock Net
ProceedsFromIssuanceOfCommonStockNet
0 usd
CY2022 cnet Proceeds From Issuance Of Common Stock Net
ProceedsFromIssuanceOfCommonStockNet
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-25000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-145000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3574000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2782000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4391000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7173000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
817000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4391000 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21766000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
64000 usd
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
140000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-9791000 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
118000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12297000 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
50000 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-5974000 usd
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
72000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6254000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"> <tbody><tr style="vertical-align: top;"> <td style="width: 18pt;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;"><b>1.</b></p> </td> <td style="width: auto;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;"><b>Organization and nature of operations <a href="#" id="notes" title="notes"></a></b></p> </td> </tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;">ZW Data Action Technologies Inc. (f/k/a ChinaNet Online Holdings, Inc.) (the “Company”) was incorporated in the State of Texas in April 2006 and re-domiciled to become a Nevada corporation in October 2006. On June 26, 2009, the Company consummated a share exchange transaction with China Net Online Media Group Limited (the “Share Exchange”), a company organized under the laws of British Virgin Islands (“China Net BVI”). As a result of the Share Exchange, China Net BVI became a wholly owned subsidiary of the Company and the Company is now a holding company, which, through certain contractual arrangements with operating companies in the People’s Republic of China (the “PRC”), is engaged in providing Internet advertising, precision marketing, e-commerce online to offline (O2O) advertising and marketing services as well as the related data and technical services to small and medium enterprises (SMEs) in the PRC. The Company also develops blockchain enabled web/mobile applications and provides software solutions, i.e., Software-as-a-Service (“SaaS”) services for clients.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;">The Company’s wholly owned subsidiary, China Net BVI was incorporated in the British Virgin Islands on August 13, 2007. On April 11, 2008, China Net BVI became the parent holding company of a group of companies comprised of CNET Online Technology Co. Limited, a Hong Kong company (“China Net HK”), which established and is the parent company of Rise King Century Technology Development (Beijing) Co., Ltd., a wholly foreign-owned enterprise (“WFOE”) established in the PRC (“Rise King WFOE”). The Company refers to the transactions that resulted in China Net BVI becoming an indirect parent company of Rise King WFOE as the “Offshore Restructuring.”</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;">PRC regulations prohibit direct foreign ownership of business entities providing Internet content, or ICP services in the PRC, and used to restrict foreign ownership of business entities engaging in the advertising business, which was subsequently lifted in June 2015. To satisfy PRC laws and regulations, the Company conducts certain business in the PRC through its Variable Interest Entities (“VIEs”). Through a series of contractual agreements (the “Contractual Agreements” or “VIE Agreements”) between Rise King WFOE and Business Opportunity Online (Beijing) Network Technology Co., Ltd. (“Business Opportunity Online”), Beijing CNET Online Advertising Co., Ltd. (“Beijing CNET Online”) (collectively the “PRC Operating Entities” or the “VIEs”) and its common individual owners (the “PRC Shareholders” or the “Control Group”), the Company, through Rise King WFOE, secures significant rights to influence the PRC Operating Entities’ business operations, policies and management, approve all matters requiring shareholder approval, and the right to receive the income earned by the PRC Operating Entities. In return, Rise King WFOE provides consulting services to the PRC Operating Entities. In addition, to ensure that the PRC Operating Entities and the PRC Shareholders perform their obligations under the Contractual Arrangements, the PRC Shareholders have pledged all of their equity interests in the PRC Operating Entities to Rise King WFOE. They also entered into an option agreement with Rise King WFOE which provides that at such time as when the restrictions under PRC law on foreign ownership of Chinese companies engaging in the Internet content, information services or advertising business in China are lifted, Rise King WFOE may exercise its option to purchase the equity interests in the PRC Operating Entities, directly.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;">As a result of these Contractual Agreements, Rise King WFOE has the power to direct activities of the PRC Operating Entities that most significantly impact the economic performance of the PRC Operating Entities and the obligation to absorb the losses and the right to receive benefits of the PRC Operating Entities that could potentially be significant to the PRC Operating Entities in a manner that does not violate the related PRC laws. As such, Rise King WFOE is deemed to be the primary beneficiary of the PRC Operating Entities, or the VIEs, that are parties to the relevant VIE agreements, for accounting purposes only, which serves the purpose of consolidating the VIEs’ operating results in the preparation of the Company’s consolidated financial statements in accordance with the provisions of FASB Accounting Standards Codification ("ASC") Topic 810 “Consolidation”, subtopic 10.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 18pt;">As of December 31, 2023, the Company’s consolidated subsidiaries, VIEs and VIEs’ subsidiaries are summarized as follows:</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p> <table cellpadding="0" cellspacing="0" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 95%; margin-left: 18pt; margin-right: auto;"> <tbody><tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Name of the entity</b></p> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Place and date of incorporation</b></p> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Percentage of legal ownership</b></p> </td> <td style="vertical-align: bottom; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Principal</b> <b>activities</b></p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: bottom; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: bottom; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><b><i><span style="text-decoration: underline; ">Subsidiaries:</span></i></b></p> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: bottom; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: bottom; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">China Net Online Media Group Limited (“China Net BVI”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">British Virgin Islands</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">August 13, 2007</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">100%</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Investment holding company</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">CNET Online Technology Co. Limited (“China Net HK”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Hong Kong, PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">September 4, 2007</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">100%</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Investment holding company</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">ChinaNet Investment Holding Ltd. (“ChinaNet Investment BVI”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">British Virgin Islands</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">January 12, 2015</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">100%</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Investment holding company</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Grandon Investments Limited (“Grandon BVI”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">British Virgin Islands</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">February 13, 2006</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">100%</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Investment holding company, providing e-commerce advertising services and blockchain-based SaaS services</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Rise King Century Technology Development (Beijing) Co., Ltd. (“Rise King WFOE”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">January 17, 2008</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">100%</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Investment holding company, providing advertising, marketing and related services</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">ChinaNet Online Holdings Co., Ltd. (“ChinaNet Online Holdings”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">August 31, 2015</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">100%</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Investment holding company</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">ChinaNet Online (Guangdong) Holdings Co., Ltd. (“ChinaNet Online Guangdong Holdings”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">May 12, 2021</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">100%</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Investment holding company</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><b><i><span style="text-decoration: underline; ">VIEs:</span></i></b></p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Business Opportunity Online (Beijing) Network Technology Co., Ltd. (“Business Opportunity Online”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">December 8, 2004</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">Consolidated VIE</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Providing online advertising, precision marketing and the related data services</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Beijing CNET Online Advertising Co., Ltd. (“Beijing CNET Online”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">January 27, 2003</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">Consolidated VIE</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Providing advertising, marketing and related value-added services</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b><i><span style="text-decoration: underline; ">VIEs</span></i></b><span style="text-decoration: underline; ">’</span><b><i><span style="text-decoration: underline; "> subsidiaries:</span></i></b></p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Beijing Chuang Fu Tian Xia Network Technology Co., Ltd. (“Beijing Chuang Fu Tian Xia”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">March 1, 2011</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">VIE’s subsidiary</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Providing online advertising, precision marketing and the related data services</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Business Opportunity Online (Hubei) Network Technology Co., Ltd. (“Business Opportunity Online Hubei”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">January 28, 2011</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">VIE’s subsidiary</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Providing online advertising, precision marketing and the related data services</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">ChinaNet Online (Guangdong) Technology Co., Ltd. (“ChinaNet Online Guangdong Technology”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">May 26, 2020</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">VIE’s subsidiary</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Developing and operating blockchain technology-based products and services, and other related value-added services</p> </td> </tr> <tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <td style="vertical-align: middle; width: 25.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">ChinaNet Yun Chuang (Guangzhou) Media Technology Co., Ltd. (“ChinaNet Yun Chuang”)</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 26.5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">PRC</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">July 27 2023</p> </td> <td style="vertical-align: middle; width: 2.3%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 11.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">VIE’s subsidiary</p> </td> <td style="vertical-align: middle; width: 2.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </td> <td style="vertical-align: middle; width: 27.4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Providing online-content production, distribution, promotion, and live streamer training and management services</p> </td> </tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-6010000.00 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-11120000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2010000.00 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3190000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
820000 usd
CY2023Q4 cnet Working Capital
WorkingCapital
4110000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"> <tbody><tr> <td style="width:7pt;"> </td> <td style="vertical-align:top;width:18pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>c)</b></p> </td> <td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Use of estimates</b></p> </td> </tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 28pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates.</p>
CY2023Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
7.0827 pure
CY2022Q4 us-gaap Foreign Currency Exchange Rate Translation1
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CY2023 cnet Foreign Currency Exchange Rate Translation Average
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CY2022 cnet Foreign Currency Exchange Rate Translation Average
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CY2023 us-gaap Provision For Doubtful Accounts
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CY2023Q4 cnet Income Tax Withholding Rate Pursuant To Eit Law
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CY2023Q4 cnet Tax Deferred Expense Reserves And Accruals Impairment Losses On Intangibles
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CY2023Q4 cnet Operating Loss Carryforwards Taxable Income Deduction Limitations
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023 cnet Class Of Warrant Or Right Exercisable Issued During Period
ClassOfWarrantOrRightExercisableIssuedDuringPeriod
0
CY2023 cnet Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
-0
CY2023 cnet Class Of Warrant Or Right Expired During Period
ClassOfWarrantOrRightExpiredDuringPeriod
406175
CY2023 cnet Class Of Warrant Or Right Expired During Period Weighted Average Exercise Price
ClassOfWarrantOrRightExpiredDuringPeriodWeightedAverageExercisePrice
10.15
CY2023 cnet Class Of Warrant Or Right Expired During Period
ClassOfWarrantOrRightExpiredDuringPeriod
406175
CY2023 cnet Class Of Warrant Or Right Expired During Period Weighted Average Exercise Price
ClassOfWarrantOrRightExpiredDuringPeriodWeightedAverageExercisePrice
10.15
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
594168
CY2023 cnet Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerm
P0Y7M17D
CY2023Q4 cnet Class Of Warrant Or Right Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightOutstandingWeightedAverageExercisePrice
18.5
CY2023Q4 cnet Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
594168
CY2023 cnet Class Of Warrant Or Right Exercisable Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightExercisableWeightedAverageRemainingContractualTerm
P0Y7M17D
CY2023Q4 cnet Class Of Warrant Or Right Exercisable Weighted Average Exercise Price
ClassOfWarrantOrRightExercisableWeightedAverageExercisePrice
18.5
CY2023Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
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13410000 usd
CY2022Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries
13310000 usd
CY2023Q4 cnet Withholding Tax Rate Pursuant To Eit Law
WithholdingTaxRatePursuantToEITLaw
0.10 pure
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
160000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
220000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30585000 usd
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
31021000 usd
CY2023 us-gaap Operating Expenses
OperatingExpenses
5576000 usd
CY2023 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
1288000 usd
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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1231000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-6012000 usd
CY2023 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
433000 usd
CY2023 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-185000 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-5974000 usd
CY2023Q4 us-gaap Assets
Assets
11233000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
110000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26235000 usd
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
26429000 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
10925000 usd
CY2022 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
2215000 usd
CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
2123000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-11119000 usd
CY2022 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
596000 usd
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1854000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-9791000 usd
CY2022Q4 us-gaap Assets
Assets
19658000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
190000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5974000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9791000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7194890
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7136290
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.83
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.37
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
108000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
186000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
60000.00 usd

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