BlueCity Holdings Limited (“BlueCity” or the “Company”) (Nasdaq:
BLCT), a leading online LGBTQ platform, today announced its
unaudited financial results for the fourth quarter and full year
ended December 31, 2021.
Fourth Quarter 2021
Highlights
- Total revenues
reached RMB243.6 million (US$38.2 million), a decrease of 12.6%
from the same period of 2020.
- Net loss was
RMB148.7 million (US$23.3 million), compared with RMB73.1 million
in the same period of 2020.
- Adjusted Net
Loss1 (Non-GAAP) was
RMB34.5 million (US$5.4 million), compared with RMB35.1 million in
the same period of 2020.
- Monthly active users
(“MAUs”) of BlueCity’s apps2 reached 7.2 million, a
decrease of 5.1% from the same period of 2020.
- Total paying
users3 of BlueCity’s apps reached 735.3
thousand, an increase of 26.3% compared with 582.0 thousand in the
same period of 2020.
Full Year 2021 Highlights
- Total revenues
were RMB1,076.6 million (US$168.9 million), an increase of 4.4%
from the full year of 2020.
- Net loss was
RMB309.6 million (US$48.6 million), compared with RMB221.9 million
in the full year of 2020.
- Adjusted Net Loss
(Non-GAAP) was RMB177.7 million (US$27.9 million),
compared with RMB38.5 million in the full year of 2020.
Mr. Baoli Ma, BlueCity’s Founder, Chairman and
Chief Executive Officer, commented: “Despite the changing macro
environment, we continued to focus on improving our product
offerings, bolstering our user engagement efforts, and optimizing
our business operations. As a result, in the fourth quarter of
2021, the number of our paying users increased by 26% year over
year to reach 735 thousand. Additionally, we further ramped up our
membership services and He Health which have become vital growth
drivers of our business. Membership services, in particular,
recorded a 51% year-over-year increase in revenues and contributed
to near 14% of our total revenues in the fourth quarter, compared
to 8% in the same period of the last year. Moving into 2022, we
will continue to focus on growing our core businesses to serve the
wellbeing of LGBTQ community and to further enhance our market
leadership.
Mr. Junchen Sun, BlueCity’s acting Chief
Financial Officer commented: “Against the backdrop of a stagnated
talent show live streaming industry in China, our total revenues
decreased by 13% year over year in the fourth quarter of 2021.
Despite these outside challenges, we remained focused on
strengthening the value propositions of our core products and
services which enabled our membership services and He Health
platform to achieve solid performance in the quarter. In addition,
we continued to implement our cost control initiatives to further
optimize our cost structure and operating efficiency. As such,
going forward, we are confident in realizing our long-term
growth.”
Fourth Quarter 2021 Financial
Results
Total Revenues
Total revenues were RMB243.6 million (US$38.2
million), representing a decrease of 12.6% year-over-year.
Live streaming services. Revenues from live
streaming services reached RMB183.8 million (US$28.8 million),
representing a decrease of 17.9% from the same period of 2020. The
decrease was primarily due to the decrease in the average spending
per paying user for live streaming services as a result of the
unfavorable headwind in the talent show live streaming industry in
China.
Membership services. Revenues from membership
services reached RMB33.6 million (US$5.3 million), representing an
increase of 51.3% from the same period of 2020. The increase was
primarily due to the increase in the number of paying users
benefited from diverse membership service offerings on the
Company’s apps.
Advertising services. Revenues from advertising
services reached RMB10.3 million (US$1.6 million), representing a
decrease of 45.6% from the same period of 2020, the decrease was
primarily due to the evolving regulatory requirements and changing
macroeconomic environment of the mobile advertising business.
Merchandise sales. Revenues from merchandise
sales of “He Health” reached RMB14.7 million (US$2.3 million),
representing an increase of 40.2% from the same period of 2020. The
increase was primarily due to the growth of the Company’s
health-related services.
Others. Revenues from other services were RMB1.1
million (US$0.2 million), representing a decrease of 64.4% from the
same period of 2020. The decrease was primarily due to the
decreased revenue from family planning services as the Company had
ceased to provide these services since March 2021.
Cost and expenses
- Cost of revenues. The cost of
revenues was RMB165.9 million (US$26.0 million), representing a
year-over-year decrease of 20.7%. The decrease was primarily due to
the decrease of revenue-sharing costs in line with the decreased
revenue from live streaming services, partially offset by the
increased cost of products in connection with the growth of “He
Health” merchandise sales.
- Selling and marketing expenses.
Selling and marketing expenses were RMB29.3 million (US$4.6
million), representing a year-over-year decrease of 41.1%. The
decrease was mainly due to the decreased advertising and promotion
expenses and staff cost, partially offset by the increased
share-based compensation expenses.
- Technology and development
expenses. Technology and development expenses were RMB53.8 million
(US$8.4 million), representing a year-over-year increase of 44.1%.
The increase was mainly due to the content, server and bandwidth
cost, the increased staff cost in technology and development
department, and share-based compensation expenses.
- General and administration
expenses. General and administrative expenses were RMB36.9 million
(US$5.8 million), representing a year-over-year decrease of 34.8%.
The decrease was mainly due to the decrease of share-based
compensation expenses and professional fee, partially offset by the
increased staff cost.
- Impairment of intangible assets and
goodwill. Impairment of intangible assets and goodwill was RMB103.9
million (US$16.3 million).
Operating loss
Operating loss was RMB146.2 million (US$22.9
million), compared with RMB74.1 million in the fourth quarter of
2020.
Income tax
benefit/(expense)
Income tax expense was RMB3.0 million (US$0.5
million), compared with income tax benefit of RMB1.9 million in the
fourth quarter of 2020.
Net loss
Net loss was RMB148.7 million (US$23.3 million),
compared with RMB73.1 million in the fourth quarter of 2020.
Adjusted net loss (Non-GAAP)
4
Adjusted net loss was RMB34.5 million (US$5.4
million) compared RMB35.1 million in the fourth quarter of
2020.
Cash and cash equivalents and term
deposits
As of December 31, 2021, the Company had cash
and cash equivalents and term deposits of RMB349.8 million (US$54.9
million), compared to RMB611.8 million as of December 31, 2020.
Full Year 2021 Financial
Results
Total Revenues
Total revenues were RMB1,076.6 million (US$168.9
million), representing an increase of 4.4% year-over-year.
Live streaming services. Revenues from live
streaming services reached RMB820.8 million (US$128.8 million),
representing a decrease of 5.5% from the full year of 2020. The
decrease was primarily due to the decrease in the average spending
per paying user for live streaming services as a result of the
unfavorable headwind in the talent show live streaming industry in
China.
Membership services. Revenues from membership
services reached RMB128.8 million (US$20.2 million), representing
an increase of 80.8% from the full year of 2020. The increase was
primarily due to the increase in the number of paying users
benefited from diverse membership service offerings on the
Company’s apps.
Advertising services. Revenues from advertising
services reached RMB53.9 million (US$8.5 million), representing an
increase of 18.5% from the full year of 2020, the increase was
primarily due to the Company’s enhanced efforts to attract more
advertisers with diverse advertising and marketing solutions as
well as improved advertising efficiency, despise the evolving
regulatory requirements and macroeconomic environment of the mobile
advertising business.
Merchandise sales. Revenues from merchandise
sales of “He Health” reached RMB64.2 million (US$10.1 million),
representing an increase of 123.9% from the full year of 2020. The
increase was primarily due to the growth of the Company’s
health-related services.
Others. Revenues from other services were RMB8.9
million (US$1.3 million), representing a decrease of 47.9% from the
full year of 2020. The decrease was primarily due to the decreased
revenue from family planning services as the Company had ceased to
provide these services since March 2021.
Cost and expenses
- Cost of revenues. The cost of
revenues was RMB728.1 million (US$114.2 million), representing a
year-over-year increase of 1.1%. The increase was primarily due to
the cost of products in connection with the growth of “He Health”
merchandise sales and the increase of staff cost, partially offset
by the decreased revenue-sharing costs in line with the decreased
revenue from live streaming services, and the decreased share-based
compensation expenses.
- Selling and marketing expenses.
Selling and marketing expenses were RMB220.5 million (US$34.6
million), representing a year-over-year increase of 17.7%. The
increase was mainly due to the increase of staff cost and
advertising and promotion expenses.
- Technology and development
expenses. Technology and development expenses were RMB219.7 million
(US$34.5 million), representing a year-over-year increase of 47.2%.
The increase was mainly due to the increased staff cost in
technology and development department and the content, server and
bandwidth cost, of which has been partially offset by the decrease
of share-based compensation expenses.
- General and administration
expenses. General and administrative expenses were RMB109.1 million
(US$17.1 million), representing a year-over-year decrease of 47.8%.
The decrease was mainly due to the decrease of share-based
compensation expenses and professional fee, of which has been
partially offset by the increased staff cost.
- Impairment of intangible assets and
goodwill. Impairment of intangible assets and goodwill were
RMB109.9 million (US$17.2 million).
Operating loss
Operating loss was RMB310.7 million (US$48.8
million), compared with RMB234.7 million in the full year of
2020.
Income tax
benefit/(expense)
Income tax expense was RMB0.8 million
(US$0.1million), compared with income tax benefit of RMB1.4 million
in the full year of 2020.
Net loss
Net loss was RMB309.6 million (US$48.6 million),
compared with RMB221.9 million in the full year of
2020.
Adjusted net loss
(Non-GAAP)
Adjusted net loss was RMB177.7 million (US$27.9
million) compared with RMB38.5 million in the full year of
2020.
About BlueCity
BlueCity (NASDAQ: BLCT) is a world-leading
online LGBTQ community providing a comprehensive suite of services
to foster connections and enhance the wellbeing of the LGBTQ
community. The company fulfills both the daily and lifelong needs
of its members through a wide range of targeted and tailored
services, including social networking, livestreaming and
health-related services. With commitment to providing high-quality
user experience, ensuring privacy protection, and promoting
community health and well-being, BlueCity has captured the hearts
and minds of LGBTQ people across the globe. Available in 13
languages, BlueCity's mobile app Blued has connected more than 60
million registered users in about 170 countries and regions.
Use of Non-GAAP
Financial Measures
The Company uses non-GAAP measures, such as
Adjusted net (loss)/income, in evaluating its operating results and
for financial and operational decision-making purposes. The Company
defines Adjusted net (loss)/income as net (loss)/income before
share-based compensation expenses, amortization related to
intangible assets resulting from acquisitions, income tax related
to intangible assets resulting from acquisitions, impairment of
intangible assets and goodwill and changes in fair value of
financial instruments. The Company believes that the non-GAAP
financial measures help identify underlying financial and business
trends relating to its results of operations that could otherwise
be distorted by the effect of certain expenses that the Company
includes in net loss. The Company believes that the non-GAAP
financial measures provide useful information about the Company’s
results of operations, enhance the overall understanding of the
Company’s past performance and future prospects and allow for
greater visibility with respect to key metrics used by the
Company’s management in its financial and operational
decision-making.
Each of the non-GAAP financial measures should
not be considered in isolation or construed as an alternative to
its comparable GAAP measure or any other measure of performance or
as an indicator of the Company’s operating performance. Investors
are encouraged to review the Company’s most directly comparable
GAAP measures in conjunction with the non-GAAP financial measures.
The non-GAAP financial measures presented here may not be
comparable to similarly titled measures presented by other
companies. Other companies may calculate similarly titled measures
differently, limiting their usefulness as comparative measures to
the Company’s data. The Company encourages investors and others to
review its financial information in its entirety and not rely on a
single financial measure.
The Company mitigates these limitations by
reconciling the non-GAAP financial measures to the most comparable
U.S. GAAP performance measures, all of which should be considered
when evaluating the Company’s performance.
For more information on the non-GAAP financial
measures, please see the table captioned “Unaudited Reconciliations
of GAAP and Non-GAAP Results” set forth at the end of this press
release.
Exchange Rate
This press release contains translations of
certain RMB amounts into U.S. dollars (“USD”) at specified rates
solely for the convenience of the reader. Unless otherwise stated,
all translations from RMB to USD were made at the rate of RMB6.3726
to US$1.00, the noon buying rate in effect on December 30, 2021 in
the H.10 statistical release of the Federal Reserve Board. The
Company makes no representation that the RMB or USD amounts
referred to could be converted into USD or RMB, as the case may be,
at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “may,” “will,” “expect,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “is/are likely to,”
“potential,” “continue” and similar statements. Among other things,
business outlook and quotations from management in this
announcement, as well as BlueCity’s strategic and operational
plans, contain forward-looking statements. BlueCity may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including but not limited to statements about BlueCity’s
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company’s goals and strategies; the Company’s ability to retain and
increase the number of users, paying members and advertisers, and
expand its product and service offerings; the Company’s future
business development, financial condition and results of
operations; the expected changes in the Company’s revenues, costs
or expenditures; the Company’s expectation regarding the use of
proceeds from its IPO; competition in the Company’s industry and
its popularity within the LGBTQ population; and relevant government
policies and regulations relating to the Company’s industry; and
the development and impacts of COVID-19. Further information
regarding these and other risks, uncertainties or factors is
included in the Company’s filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
and in the attachments is current as of the date of the press
release, and the Company does not undertake any obligation to
update such information, except as required under applicable
law.
For more information, please contact:
BlueCity Holdings Limited Investor Relations
Phone: +86 10-5876-9662Email: ir@bluecity.com
The Blueshirt GroupMs. Julia QianPhone: +1
973-619-3227Email: Julia@blueshirtgroup.com
BlueCity Holdings
Limited |
|
|
|
|
|
|
|
|
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2020 |
|
As of December 31, 2021 |
|
|
|
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
|
|
Cash and cash
equivalents |
|
439,492,788 |
|
|
349,785,624 |
|
54,888,997 |
|
Term deposits |
|
172,257,360 |
|
|
- |
|
- |
|
Accounts
receivable, net |
|
5,588,023 |
|
|
12,878,562 |
|
2,020,927 |
|
Inventories |
|
6,853,202 |
|
|
7,401,509 |
|
1,161,458 |
|
Prepayments and
other current assets |
|
58,629,416 |
|
|
99,777,088 |
|
15,657,202 |
|
Total current assets |
|
682,820,789 |
|
|
469,842,783 |
|
|
73,728,584 |
|
|
|
|
|
|
|
|
|
Non-current assets: |
|
|
|
|
|
|
|
Investment
securities |
|
50,000 |
|
|
- |
|
|
- |
|
Property and
equipment, net |
|
11,445,548 |
|
|
11,186,159 |
|
|
1,755,352 |
|
Intangible assets
and goodwill |
|
248,087,080 |
|
|
125,956,181 |
|
|
19,765,273 |
|
Other non-current
assets |
|
2,426,128 |
|
|
3,177,465 |
|
|
498,614 |
|
Total
non-current assets |
|
262,008,756 |
|
|
140,319,805 |
|
|
22,019,239 |
|
TOTAL
ASSETS |
|
944,829,545 |
|
|
610,162,588 |
|
|
95,747,823 |
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
|
|
Accounts
payable |
|
20,372,680 |
|
|
28,507,188 |
|
|
4,473,400 |
|
Deferred
revenue |
|
35,226,237 |
|
|
35,796,254 |
|
|
5,617,213 |
|
Income tax
payable |
|
2,122,765 |
|
|
5,047,173 |
|
|
792,012 |
|
Accrued expenses
and other current liabilities |
|
118,958,796 |
|
|
82,962,351 |
|
|
13,018,602 |
|
Total
current liabilities |
|
176,680,478 |
|
|
152,312,966 |
|
|
23,901,227 |
|
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
|
Deferred income
tax liabilities |
|
10,954,883 |
|
|
9,603,096 |
|
|
1,506,935 |
|
Other non-current
liabilities |
|
- |
|
|
2,300,000 |
|
|
360,920 |
|
Total
non-current liabilities |
|
10,954,883 |
|
|
11,903,096 |
|
|
1,867,855 |
|
Total
liabilities |
|
187,635,361 |
|
|
164,216,062 |
|
|
25,769,082 |
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
Ordinary
shares5 |
|
12,018 |
|
|
12,605 |
|
|
1,978 |
|
Additional paid-in
capital |
|
2,188,870,625 |
|
|
2,204,845,216 |
|
|
345,988,328 |
|
Accumulated other
comprehensive loss |
|
(107,514,737 |
) |
|
(125,113,629 |
) |
|
(19,633,059 |
) |
Accumulated
deficit |
|
(1,324,173,722 |
) |
|
(1,633,797,666 |
) |
|
(256,378,506 |
) |
Total
shareholders' equity |
|
757,194,184 |
|
|
445,946,526 |
|
|
69,978,741 |
|
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
944,829,545 |
|
|
610,162,588 |
|
|
95,747,823 |
|
BlueCity Holdings Limited |
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended December 31, |
|
For the Years Ended December 31, |
|
|
2020 |
|
2021 |
|
2020 |
|
2021 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
278,794,809 |
|
|
243,581,227 |
|
|
38,223,210 |
|
|
1,031,323,444 |
|
|
1,076,591,430 |
|
|
168,940,688 |
|
Cost and
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues |
|
(209,323,409 |
) |
|
(165,949,921 |
) |
|
(26,041,164 |
) |
|
(720,370,586 |
) |
|
(728,065,167 |
) |
|
(114,249,312 |
) |
Selling and marketing
expenses |
|
(49,678,830 |
) |
|
(29,269,267 |
) |
|
(4,592,987 |
) |
|
(187,281,558 |
) |
|
(220,464,208 |
) |
|
(34,595,645 |
) |
Technology and development
expenses |
|
(37,347,536 |
) |
|
(53,830,172 |
) |
|
(8,447,129 |
) |
|
(149,255,609 |
) |
|
(219,741,246 |
) |
|
(34,482,197 |
) |
General and administrative
expenses |
|
(56,536,147 |
) |
|
(36,857,740 |
) |
|
(5,783,784 |
) |
|
(209,086,316 |
) |
|
(109,149,156 |
) |
|
(17,127,884 |
) |
Impairment of intangible
assets and goodwill |
|
- |
|
|
(103,894,326 |
) |
|
(16,303,287 |
) |
|
- |
|
|
(109,864,249 |
) |
|
(17,240,098 |
) |
Total cost and
expenses |
|
(352,885,922 |
) |
|
(389,801,426 |
) |
|
(61,168,351 |
) |
|
(1,265,994,069 |
) |
|
(1,387,284,026 |
) |
|
(217,695,136 |
) |
Operating
loss |
|
(74,091,113 |
) |
|
(146,220,199 |
) |
|
(22,945,141 |
) |
|
(234,670,625 |
) |
|
(310,692,596 |
) |
|
(48,754,448 |
) |
Change in fair value of
financial instruments |
|
- |
|
|
- |
|
|
- |
|
|
(5,247 |
) |
|
- |
|
|
- |
|
Gain on disposal of an
investment security |
|
- |
|
|
- |
|
|
- |
|
|
4,863,233 |
|
|
- |
|
|
- |
|
Interest (expenses)/income,
net |
|
(869,372 |
) |
|
515,040 |
|
|
80,821 |
|
|
6,517,961 |
|
|
1,889,658 |
|
|
296,529 |
|
Loss before income
taxes |
|
(74,960,485 |
) |
|
(145,705,159 |
) |
|
(22,864,320 |
) |
|
(223,294,678 |
) |
|
(308,802,938 |
) |
|
(48,457,919 |
) |
Income tax
benefit/(expense) |
|
1,883,688 |
|
|
(2,992,874 |
) |
|
(469,647 |
) |
|
1,441,814 |
|
|
(821,006 |
) |
|
(128,834 |
) |
Net loss |
|
(73,076,797 |
) |
|
(148,698,033 |
) |
|
(23,333,967 |
) |
|
(221,852,864 |
) |
|
(309,623,944 |
) |
|
(48,586,753 |
) |
Reversal of
accretion and modification of Redeemable Convertible Preferred
Shares to redemption value |
- |
|
|
- |
|
|
- |
|
|
244,080,678 |
|
|
- |
|
|
- |
|
Net
(loss)/income available for distribution |
(73,076,797 |
) |
|
(148,698,033 |
) |
|
(23,333,967 |
) |
|
22,227,814 |
|
|
(309,623,944 |
) |
|
(48,586,753 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
(73,076,797 |
) |
|
(148,698,033 |
) |
|
(23,333,967 |
) |
|
(221,852,864 |
) |
|
(309,623,944 |
) |
|
(48,586,753 |
) |
Other comprehensive
loss |
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gains on an
available-for-sale investment, net of nil income taxes |
|
- |
|
|
- |
|
|
- |
|
|
1,456,370 |
|
|
- |
|
|
- |
|
Reclassification adjustment
for gains on available-for-sale investment realized in net income,
net of nil income taxes |
|
|
|
- |
|
|
|
|
(4,863,233 |
) |
|
|
|
|
Foreign currency translation
adjustment, net of nil income taxes |
|
(27,700,960 |
) |
|
(4,852,938 |
) |
|
(761,532 |
) |
|
(63,005,931 |
) |
|
(17,598,892 |
) |
|
(2,761,650 |
) |
Comprehensive
loss |
|
(100,777,757 |
) |
|
(153,550,971 |
) |
|
(24,095,499 |
) |
|
(288,265,658 |
) |
|
(327,222,836 |
) |
|
(51,348,403 |
) |
BlueCity Holdings
Limited |
|
|
|
|
|
NOTES TO
UNAUDITED FINANCIAL INFORMATION |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three
Months Ended December 31, |
|
|
For the Years Ended December 31, |
|
2020 |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
RMB |
|
RMB |
|
|
US$ |
|
RMB |
|
|
RMB |
|
US$ |
|
Share-based compensation expenses included
in: |
|
|
|
|
|
|
|
|
|
|
—Cost of
revenues |
972,762 |
|
|
546,546 |
|
|
85,765 |
|
|
11,698,603 |
|
|
2,140,523 |
|
|
|
335,895 |
|
—Selling and
marketing expenses |
890,690 |
|
|
2,459,057 |
|
|
385,880 |
|
|
16,922,885 |
|
|
7,678,680 |
|
|
|
1,204,952 |
|
—Technology and
development expenses |
186,103 |
|
|
1,385,787 |
|
|
217,460 |
|
|
16,737,624 |
|
|
5,261,231 |
|
|
|
825,602 |
|
—General and
administrative expenses |
35,061,781 |
|
|
4,434,766 |
|
|
695,912 |
|
|
141,544,319 |
|
|
830,710 |
|
|
|
130,357 |
|
Total |
37,111,336 |
|
|
8,826,156 |
|
|
1,385,017 |
|
|
186,903,431 |
|
|
15,911,144 |
|
|
|
2,496,806 |
|
|
|
|
|
|
|
|
|
|
|
|
Amortization related
to intangible assets resulting from acquisitions included
in: |
|
|
|
|
|
|
|
|
|
|
|
—Cost of
revenues |
812,487 |
|
|
1,498,476 |
|
|
235,144 |
|
|
1,429,116 |
|
|
6,236,802 |
|
|
|
978,690 |
|
—Selling and
marketing expenses |
287,232 |
|
|
433,124 |
|
|
67,967 |
|
|
287,232 |
|
|
1,989,644 |
|
|
|
312,219 |
|
Total |
1,099,719 |
|
|
1,931,600 |
|
|
303,111 |
|
|
1,716,348 |
|
|
8,226,446 |
|
|
|
1,290,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited
Reconciliations of GAAP and Non-GAAP Results |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended December 31, |
|
For the Years Ended December 31, |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Net loss |
|
(73,076,797 |
) |
|
(148,698,033 |
) |
|
(23,333,967 |
) |
|
(221,852,864 |
) |
|
(309,623,944 |
) |
|
(48,586,753 |
) |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses |
|
37,111,336 |
|
|
8,826,156 |
|
|
1,385,016 |
|
|
186,903,431 |
|
|
15,911,144 |
|
|
2,496,806 |
|
Amortization
related to intangible assets resulting from acquisitions |
|
1,099,719, |
|
|
1,931,600 |
|
|
303,111 |
|
|
1,716,348 |
|
|
8,226,446 |
|
|
1,290,909 |
|
Income tax related to
intangible assets resulting from acquisitions |
|
(274,930 |
) |
|
(482,900 |
) |
|
(75,778 |
) |
|
(429,087 |
) |
|
(2,056,612 |
) |
|
(322,727 |
) |
Impairment of
intangible assets and goodwill |
|
- |
|
|
103,894,326 |
|
|
16,303,287 |
|
|
- |
|
|
109,864,249 |
|
|
17,240,098 |
|
Changes in fair
value of financial instruments |
|
- |
|
|
- |
|
|
- |
|
|
(4,857,986 |
) |
|
- |
|
|
- |
|
Adjusted net
loss |
|
(35,140,672 |
) |
|
(34,528,851 |
) |
|
(5,418,331 |
) |
|
(38,520,158 |
) |
|
(177,678,717 |
) |
|
(27,881,667 |
) |
______________________________________________________________________________________________________________________
1 Adjusted Net (Loss)/Income, a non-GAAP
financial measure, represents net (loss)/income excluding
share-based compensation expenses, amortization related to
intangible assets resulting from acquisitions, income tax related
to intangible assets resulting from acquisitions, impairment of
intangible assets and goodwill and changes in fair value of
financial instruments. For further information, please see “Use of
Non-GAAP Financial Measures” and “Unaudited Reconciliations of GAAP
and non-GAAP results” at the bottom of this release.
2 BlueCity’s apps include Blued and Finka. We
count MAUs of Finka into our MAUs, starting from December 2020,
without eliminating duplicates among our portfolio apps.
3 “Total paying users” is the total number of
users who paid for virtual currency (which can be used to purchase
and send virtual gifts in live streaming) and membership services.
A user who makes payments for different services offered on the
Company’s platform using the same registered account is counted as
one paying user.4 Adjusted net (loss)/income is a non-GAAP
financial measure. For more information on non-GAAP financial
measures, please see the section of “Use of Non-GAAP Financial
Measures” and the table captioned “Unaudited Reconciliations of
GAAP and Non-GAAP Results” set forth at the end of this press
release.5 As of December 31, 2021, there were 13,618,609 Class A
Ordinary Shares and 5,114,840 Class B ordinary shares issued and
outstanding.
BlueCity (NASDAQ:BLCT)
過去 株価チャート
から 5 2024 まで 6 2024
BlueCity (NASDAQ:BLCT)
過去 株価チャート
から 6 2023 まで 6 2024