UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of October 2024

 

Commission File Number:

 

Kuke Music Holding Limited

 

Room 303

Beijing Broadcasting Tower,

No. Jia 14, Jianwaidajie

Chaoyang District, Beijing

People’s Republic of China

+86-010-6561 0392

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 

 

 

Kuke Music Holding Limited, a Cayman Islands exempted company (the “Company”) furnishes under the cover of Form 6-K the following:

 

EXHIBITS

 

99.1  Press Release
99.2  Interim Financial Report
101.INS  Inline XBRL Instance Document.
101.SCH  Inline XBRL Taxonomy Extension Schema Document.
101.CAL  Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF  Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB  Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE  Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104  Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Kuke Music Holding Limited
     
  By: /s/ Li Li
    Name:  Li Li
    Title: Chief Financial Officer
    Date: October 28, 2024

 

2

 

Exhibit 99.1

 

Kuke Reports First Half of 2024 Unaudited Financial Results

 

BEIJING, October 28, 2024 /PRNewswire/ -- Kuke Music Holding Limited (“Kuke”, “we” or the “Company”) (NYSE: KUKE), a leading classical music service platform in China, today announced its unaudited interim financial results for the six months ended June 30, 2024.

 

First Half of 2024 Financial Highlights

 

●Total revenue was RMB62.6million (US$8.7 million), compared to RMB62.1 million in the same period of 2023.

 

●Total gross profit was RMB40.7 million (US$5.6 million), compared to RMB42.0 million in the same period of 2023.

 

●Net profit was RMB5.7million (US$1 million), compared to net profit of RMB9.0 million in the same period of 2023.

 

●Non-IFRS net profit [1] was RMB15.7 million (US$2.2million), compared to a Non-IFRS net profit of RMB21.1million in the same period of 2023.

 

First Half of 2024 Operational Highlight

 

●Regarding the subscription business segment, our aggregated institutional subscribers increased to 952 as of the end of the second quarter of 2024 from 880 as of the end of 2023 across China.

 

●The company successfully completed the “Choral Conducting Teacher Training Program” for music teachers with the China National Youth Palace Association (CNYPA) in May. In August, it also wrapped up the Choral Arts Week Summer Camp project. These activities have strengthened the company’s close collaboration with the China National Youth Palace Association.

 

●Its newly developed “KUKE Music for Cars” app has completed testing by the end of September. This innovative in-car music application aims to deliver a smarter and more personalized music experience for New Energy Vehicles users.

 

Mr. He Yu, the Chief Executive Officer of Kuke, stated, “We are doing our best to adapt to changes in China’s economic environment by continuing to restructure our business and clean up non-performing assets. In the first six months of 2024, we achieved a total revenue of RMB62.6 million and a net profit of 5.7 million RMB.”

 

Looking ahead, the macroeconomic environment presents us with significant challenges. Nevertheless, we remain committed to enhancing our portfolio of music copyright products and services and advancing the commercialization of classical music across a wider range of settings.

 

 

[1]Non-IFRS profit/loss of the Company was calculated after excluding the combined effect of amortization and depreciation, share-based compensation, impairment losses on financial assets, net, and the corresponding income tax effects of these non-IFRS adjustments.

 

1

 

 

First Half of 2024 Financial Results

 

Total Revenue

 

Total revenue increased by 0.8% to RMB62.6million (US$8.7 million) from RMB 62.1 million in the same period of 2023.

 

●Total licensing and subscription segment revenue increased by 42% to RMB58.6million (US$8.1million) from RMB41.3 million in the same period of 2023. Specifically, licensing revenue increased by 49.6% to RMB50.1 million (US$6.9 million) from RMB33.5 million in the same period of 2023, due to the renewal of a large contract. Subscription revenue increased to RMB8.5 million (US$1.2 million) from RMB7.8 million in the same period of 2023, mainly due to the increase in product sales.

 

●Total smart music learning solutions segment revenue decreased by 77% to RMB4.0 million (US$20.6 million) from RMB17.5 million in the same period of 2023, primarily because the company scaled back its operations from 2023.

 

●Total live music events segment revenue decreased to RMB0million (US$0million) from RMB3.3 million in the same period of 2023, as a result of the Company’s strategic contraction.

 

Gross Profit and Gross Margin

 

Gross profit in the first half of 2024 decreased to RMB40.6 million (US$5.6 million) from RMB42.0 million in the same period of 2023, which was attributable to the increased costs. Our gross margin remained stable at 64.8% in the first half of 2024, compared to 67.6% in the same period of 2023.

 

●The gross margin of classical music licensing and subscription segment was 63.0%, compared to70.7% in the same period of 2023. because the gross margin of classical music licensing decreased to 61.2% from 87.1% in the same period of 2023.

 

●The gross margin of smart music learning solutions segment was 96.4 %, compared to 73.1 % in the same period of 2023, due to a larger share of higher-margin business in our revenue mix compared to the previous year.

 

Operating Expenses

 

Total operating expenses in the first half of 2024 decreased by 1% to RMB32.9 million (US$4.5million) from RMB33.3 million in the same period of 2023.  

 

●Selling and distribution expenses in the first half of 2024 increased by 25.8% to RMB 17.5million (US$2.4 million) from RMB13.9 million in the same period of 2023. The increase was mainly due to higher operating expenses.

 

●Administrative expenses in the first half of 2024 decreased by 19.8% to RMB14.0 million (US$1.9 million) from RMB17.5 million in the same period of 2023, due to reduced management costs.

 

2

 

 

Operating Profit

 

Operating profit in the first half of 2024 was RMB9.0 million (US$1.3 million), compared to operating loss of RMB11.6 million in the same period of 2023.

 

Net Profit for the Period

 

Net profit was RMB5.7million (US$00.8 million), compared to net loss of RMB9.0 million in the same period of 2023.

 

Non-IFRS Net Profit for the Period

 

Non-IFRS net profit was RMB15.7 million (US$2.2million), compared to non-IFRS net profit of RMB21.1 million in the same period of 2023.

 

Net Profit per ADS and Non-IFRS Net Profit per ADS

 

Basic and diluted net profit per American Depositary Share (“ADS”) were both RMB0.18 (US$0.02) in the first half of 2024, compared to basic and diluted net profit per ADS of RMB0.25 in the same period of 2023. Basic and diluted non-IFRS net profit per ADS were both RMB0.43 (US$0.06) in the first half of 2024, compared to basic and diluted non-IFRS net profit per ADS of RMB0.71 in the same period of 2023. Each ADS represents one Class A ordinary share of the Company.

 

Balance Sheet

 

As of June 30, 2024, cash and cash equivalents were RMB1.8 million (US$0 million). 

 

Recent Developments

 

Annual General Meeting and the class meeting of holders of Class B ordinary shares

 

The annual general meeting of shareholders and the class meeting of holders of Class B ordinary shares with a par value of US$0.001 each (the “Class B Ordinary Shares”) were held in Beijing, China on September 20, 2024, and each of the following proposed resolutions submitted for shareholder approval has been duly adopted at the respective meeting.

 

●1. as a special resolution, THAT the voting rights of the Class B Ordinary Shares be amended from each Class B Ordinary Share being entitled to ten (10) votes on all matters subject to a vote at general meetings of the Company to each Class B Ordinary Share being entitled to fifty (50) votes on all matters subject to a vote at general meetings of the Company;

 

3

 

 

●2. as an ordinary resolution, THAT the authorized share capital of the Company be increased from US$50,000 divided into 50,000,000 shares of a nominal or par value of US$0.001 each, comprising of 41,718,902 Class A ordinary shares of a par value of US$0.001 each (the “Class A Ordinary Shares”) and 8,281,098 Class B ordinary shares of a par value of US$0.001 each, to US$5,000,000 divided into 5,000,000,000 shares of a nominal or par value of US$0.001 each, comprising of 4,961,500,000 Class A ordinary shares of a par value of US$0.001 each and 38,500,000 Class B ordinary shares of a par value of US$0.001 each by creation of 4,919,781,098 Class A Ordinary Shares and 30,218,902 Class B Ordinary Shares; and

 

●3. as a special resolution, THAT subject to the passing of each of the resolutions above:

 

●(1) the proposed amendments to the existing second amended and restated memorandum of association and articles of association of the Company (the “Proposed Amendments”), the details of which are set out in Annex I to the notice of the annual general meeting, dated August 21, 2024 (the “Notice of AGM”), be and are hereby approved;

 

●(2) the third amended and restated memorandum of association and articles of association of the Company (the “New M&A”) in the form set out in Annex II to the Notice of AGM be and are hereby approved and adopted as the new memorandum of association and articles of association of the Company in substitution for and to the exclusion of the existing second amended and restated memorandum of association and articles of association of the Company with effect from the close of the annual general meeting; and

 

●(3) any director and officer of the Company be and is hereby authorized to do all things necessary to effect and record the Proposed Amendments and the adoption of the New M&A.

 

About Kuke Music Holding Limited

 

Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services. By collaborating with its strategic global business partner Naxos, the largest independent classical music content provider in the world, the foundation of Kuke’s extensive classical music content library is its unparalleled access to more than 900 top-tier labels and record companies. Leveraging its market leadership in international copyrighted classical music content, Kuke provides highly scalable classical music licensing services to various online music platforms and classical music subscription services to over 800 universities, libraries, and other institutions across China. In addition, it has hosted the Beijing Music Festival (“BMF”), the most renowned classical music festival in China.

 

For more information about Kuke, please visit https://ir.kuke.com/. The Company routinely provides important updates on its website.

 

4

 

 

Exchange Rate Information

 

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

 

Forward-looking Statements

 

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 “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Statements that are not historical facts, including but not limited to statements about Kuke’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 those in Kuke’s registration statement filed with the Securities and Exchange Commission. Further information regarding these and other risks is included in Kuke’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Kuke does not undertakes any obligation to update any forward-looking statement, except as required under applicable law.

 

Use of Non-IFRS Financial Measures

 

The Company uses non-IFRS profit for the period, which is a non-IFRS financial measure, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that non-IFRS profit helps management to analyze trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its profit or loss for the period.

 

Non-IFRS profit for the period should not be considered in isolation or construed as an alternative to net profit for the period or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review non-IFRS profit for the period and the corresponding footnote explaining the calculation of such measure together. Non-IFRS profit for the period presented here may be different to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently and should not be compared to the measure adopted by 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.

 

Non-IFRS profit for the period represents profit or loss for the year excluding the combined effect of amortization and depreciation, share-based compensation, impairment losses on financial assets, net, and the corresponding income tax effects of these non-IFRS adjustments.

 

Investor and Media Contact:

 

Kuke Music Holding Limited

 

Email: ir@kuke.com

 

 

5

 

 

Exhibit 99.2

 

KUKE MUSIC HOLDING LIMITED

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(In thousands)

 

  

As of
December 31,

2023

  

As of
June 30,

2024

 
 

As of
June 30,

2024

 
   RMB   RMB   USD 
NON-CURRENT ASSETS            
Property, plant and equipment   315    292    40 
Intangible assets   165,279    156,373    21,518 
Right-of-use assets   3,939    3,302    454 
Goodwill   764    764    105 
Prepayments, other receivables and other assets   24,460    7,237    996 
Deferred tax assets   
-
    
-
    
-
 
Equity investment at fair value through profit or loss   
-
    
-
    
-
 
Total non-current assets    194,757    167,968    23,113 
CURRENT ASSETS               
Inventories   
-
    982    135 
Trade receivables   22,844    57,851    7,961 
Prepayments, other receivables and other assets   21,112    34,467    4,743 
Net investments in subleases   
 
    
 
    
 
 
Due from related parties   303    303    42 
Due from shareholders   1,913    1,913    263 
Cash and cash equivalents   7,574    1,831    252 
Total current assets    53,746    97,347    13,396 
Total assets    248,503    265,315    36,509 
EQUITY               
Issued capital    221    258    36 
Reserves    21,523    51,705    7,115 
Equity attributable to equity holders of the parent    21,744    51,964    7,152 
Non-controlling interests    1,813    1,700    234 
Total equity    23,557    53,663    7,385 
NON-CURRENT LIABILITIES               
Interest-bearing loans and borrowings   3,000    3,000    413 
Contract liabilities    12,376    1,441    198 
Deferred tax liabilities   
 
    
 
    
 
 
Lease liabilities    2,487    2,490    343 
Total non-current liabilities    17,863    6,931    954 
CURRENT LIABILITIES               
Trade payables   34,818    47,177    6,492 
Other payables and accruals   87,859    93,893    12,920 
Contract liabilities   6,314    15,286    2,103 
Due to a shareholder and   13,097    13,097    1,802 
Interest-bearing loans and borrowings   62,226    32,703    4,500 
Leased liabilities   1,706    1,163    160 
Income tax payable   1,063    1,402    193 
Total current liabilities    207,803    204,721    28,170 
Total liabilities    224,946    211,652    29,124 
Total equity and liabilities    248,503    265,315    36,509 

 

1

 

 

KUKE MUSIC HOLDING LIMITED

UNAUDITED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND

UNAUDITED OTHER COMPREHENSIVE INCOME

(In thousands, except for per share data)

 

   For the six months ended June 30 
   2023   2024   2024 
   RMB   RMB   USD 
Revenue   62,131    62,629    8,619 
Subscription and licensing   41,280    58,598    8,065 
Licensing   33,473    50,086    6,894 
Subscription   7,807    8,512    1,171 
Smart music learning solutions   17,504    4,031    554 
Smart music learning solutions sales   17,241    4,031    554 
Smart music learning solutions subscription   263    0    0 
Live music events   3,347    0    0 
One-time disposal of obsolete inventory   
-
    
-
    
-
 
Cost of Goods Sold   (20,103)   (22,019)   (3,030)
Gross profit   42,028    40,610    5,589 
Other income, net   2,923    146    20 
Selling and distribution expenses   (13,909)   (17,496)   (2,408)
Administrative expenses   (17,510)   (14,045)   (1,933)
Impairment losses on financial assets, net   (1,806)          
Other operating expenses   (100)   (212)   (29)
Operating (loss)/profit   11,626    9,003    1,239 
Share of losses of a joint venture   
-
    
-
    
-
 
Finance costs   (2,666)   (3,256)   (448)
Finance income   6    1      
(Loss)/profit before tax   8,966    5,748    791 
Income tax expense   
-
    
 
    
 
 
(Loss)/profit for the period/year and total comprehensive (loss)/income for the period/year   8,966    5,748    791 
Attributable to:               
Equity holders of the parent   7,551    6,395    880 
Non-controlling interests   (1,415)   (647)   (89)
(Loss)Earnings per share for class A and class B ordinary shares attributable to ordinary equity holders of the parent               
Basic   0.25    0.18    0.02 
Diluted   0.25    0.18    0.02 

 

2

 

 

KUKE MUSIC HOLDING LIMITED

RECONCILIATIONS OF NON-IFRS MEASURES TO THE MOST COMPARABLE IFRS MEASURES

(In thousands)

 

   For the six months ended June 30 
   2023   2024   2024 
   RMB   RMB   USD 
(Loss)/profit for the period/year and total comprehensive (loss)/income for the period/year   8,966    5,748    791 
Adjustments:               
Amortization and Depreciation   9,568    8,919    1,227 
Share-based compensation   2,196    1,017    140 
Impairment losses on financial assets, net   1,806    -    - 
Income tax effects   (1,410)   -    - 
Non-IFRS Profit/(loss)    21,126    15,684    2,158 

 

3

 

 

KUKE MUSIC HOLDING LIMITED

UNAUDITED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND

UNAUDITED OTHER COMPREHENSIVE INCOME

(In thousands, except for per share data)

 

   For the three months ended June 30 
   2023   2024   2024 
   RMB   RMB   USD 
Revenue   52,204    54,113    7,446 
Subscription and licensing   36,199    50,084    6,892 
Licensing   32,141    45,732    6,293 
Subscription   4,058    4,352    599 
Smart music learning solutions   16,005    4,029    554 
Smart music learning solutions sales   15,904    4,029    554 
Smart music learning solutions subscription   101    0    0 
Live music events   
-
    
-
    
-
 
One-time disposal of obsolete inventory   
-
    
-
    
-
 
Cost of goods sold   (10,371)   (11,833)   (12)
Gross profit   41,833    42,280    5,818 
Other income, net   1,196    1,224    (168)
Selling and distribution expenses   (7,601)   (6,395)   (880)
Administrative expenses   (10,310)   (6,296)   (866)
Impairment losses on financial assets, net   (1,391)   2,703    372 
Other operating expenses   (32)   (1,889)   (260)
Operating (loss)/profit   23,695    29,179    4,015 
Share of losses of a joint venture   
-
    
-
    
-
 
Finance costs   (1,345)   (791)   (109)
Finance income   4    5    1 
(Loss)/profit before tax   22,354    28,383    3,906 
Income tax expense   
-
    
-
    
-
 
(Loss)/profit for the period/year and total comprehensive (loss)/income for the period/year   22,354    28,383    3,906 
Attributable to:               
Equity holders of the parent   20,307    29,711    4,088 
Non-controlling interests   2,046    1,328    183 
(Loss)Earnings per share for class A and class B ordinary shares attributable to ordinary equity holders of the parent               
Basic   0.69    1.56    0.22 
Diluted   0.69    1.56    0.22 

 

4

 

 

KUKE MUSIC HOLDING LIMITED

RECONCILIATIONS OF NON-IFRS MEASURES TO THE MOST COMPARABLE IFRS MEASURES

(In thousands)

 

   For the three months ended June 30, 
   2023   2024   2024 
   RMB   RMB   USD 
(Loss)/profit for the period/year and total comprehensive (loss)/income for the period/year   22,354    28,383    3,906 
Adjustments:               
Amortization and Depreciation   4,850    4,502    619 
Share-based compensation   1,104    508    70 
Impairment losses on financial assets, net   1,391    2,703    372 
Income tax effects   (715)   -    - 
Non-IFRS Profit/(loss)   28,983    36,096    4,967 

 

5

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v3.24.3
Document And Entity Information
 6 Months Ended
Jun. 30, 2024
Document Information Line Items  
Entity Registrant Name Kuke Music Holding Limited
Document Type 6-K
Current Fiscal Year End Date --12-31
Amendment Flag false
Entity Central Index Key 0001809158
Document Period End Date Jun. 30, 2024
Document Fiscal Year Focus 2024
Document Fiscal Period Focus Q2
Entity File Number 001-39859
v3.24.3
Unaudited Consolidated Statements of Financial Position
¥ in Thousands, $ in Thousands
Jun. 30, 2024
CNY (¥)
Jun. 30, 2024
USD ($)
Dec. 31, 2023
CNY (¥)
NON-CURRENT ASSETS      
Property, plant and equipment ¥ 292 $ 40 ¥ 315
Intangible assets 156,373 21,518 165,279
Right-of-use assets 3,302 454 3,939
Goodwill 764 105 764
Prepayments, other receivables and other assets 7,237 996 24,460
Deferred tax assets
Equity investment at fair value through profit or loss
Total non-current assets 167,968 23,113 194,757
CURRENT ASSETS      
Inventories 982 135
Trade receivables 57,851 7,961 22,844
Prepayments, other receivables and other assets 34,467 4,743 21,112
Net investments in subleases
Due from shareholders 1,913 263 1,913
Cash and cash equivalents 1,831 252 7,574
Total current assets 97,347 13,396 53,746
Total assets 265,315 36,509 248,503
EQUITY      
Issued capital 258 36 221
Reserves 51,705 7,115 21,523
Equity attributable to equity holders of the parent 51,964 7,152 21,744
Non-controlling interests 1,700 234 1,813
Total equity 53,663 7,385 23,557
NON-CURRENT LIABILITIES      
Interest-bearing loans and borrowings 3,000 413 3,000
Contract liabilities 1,441 198 12,376
Deferred tax liabilities
Lease liabilities 2,490 343 2,487
Total non-current liabilities 6,931 954 17,863
CURRENT LIABILITIES      
Trade payables 47,177 6,492 34,818
Other payables and accruals 93,893 12,920 87,859
Contract liabilities 15,286 2,103 6,314
Due to a shareholder and 13,097 1,802 13,097
Interest-bearing loans and borrowings 32,703 4,500 62,226
Leased liabilities 1,163 160 1,706
Income tax payable 1,402 193 1,063
Total current liabilities 204,721 28,170 207,803
Total liabilities 211,652 29,124 224,946
Total equity and liabilities 265,315 36,509 248,503
Related Party      
CURRENT ASSETS      
Due from related parties ¥ 303 $ 42 ¥ 303
v3.24.3
Unaudited Consolidated Statements of Profit or Loss And Unaudited Other Comprehensive Income
¥ in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
CNY (¥)
¥ / shares
Jun. 30, 2024
USD ($)
$ / shares
Jun. 30, 2023
CNY (¥)
¥ / shares
Jun. 30, 2024
CNY (¥)
¥ / shares
Jun. 30, 2024
USD ($)
$ / shares
Jun. 30, 2023
CNY (¥)
¥ / shares
Revenue ¥ 54,113 $ 7,446 ¥ 52,204 ¥ 62,629 $ 8,619 ¥ 62,131
Cost of goods sold (11,833) (12) (10,371) (22,019) (3,030) (20,103)
Gross profit 42,280 5,818 41,833 40,610 5,589 42,028
Other income, net 1,224 (168) 1,196 146 20 2,923
Selling and distribution expenses (6,395) (880) (7,601) (17,496) (2,408) (13,909)
Administrative expenses (6,296) (866) (10,310) (14,045) (1,933) (17,510)
Impairment losses on financial assets, net 2,703 372 (1,391)     (1,806)
Other operating expenses (1,889) (260) (32) (212) (29) (100)
Operating (loss)/profit 29,179 4,015 23,695 9,003 1,239 11,626
Share of losses of a joint venture
Finance costs (791) (109) (1,345) (3,256) (448) (2,666)
Finance income 5 1 4 1   6
(Loss)/profit before tax 28,383 3,906 22,354 5,748 791 8,966
Income tax expense
(Loss)/profit for the period/year and total comprehensive (loss)/income for the period/year 28,383 3,906 22,354 5,748 791 8,966
Attributable to:            
Equity holders of the parent 29,711 4,088 20,307 6,395 880 7,551
Non-controlling interests ¥ 1,328 $ 183 ¥ 2,046 ¥ (647) $ (89) ¥ (1,415)
(Loss)Earnings per share for class A and class B ordinary shares attributable to ordinary equity holders of the parent            
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 1.56 $ 0.22 ¥ 0.69 ¥ 0.18 $ 0.02 ¥ 0.25
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) ¥ 1.56 $ 0.22 ¥ 0.69 ¥ 0.18 $ 0.02 ¥ 0.25
Subscription and Licensing            
Revenue ¥ 50,084 $ 6,892 ¥ 36,199 ¥ 58,598 $ 8,065 ¥ 41,280
Licensing            
Revenue 45,732 6,293 32,141 50,086 6,894 33,473
Subscription            
Revenue 4,352 599 4,058 8,512 1,171 7,807
Smart Music Learning Solutions            
Revenue 4,029 554 16,005 4,031 554 17,504
Smart Music Learning Solutions Sales            
Revenue 4,029 554 15,904 4,031 554 17,241
Smart Music Learning Solutions Subscription            
Revenue 0 0 101 0 0 263
Live Music Events            
Revenue 0 0 3,347
One-Time Disposal of Obsolete Inventory            
Revenue
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