An overview of integration

The collection is one of the major collection distributors and developers in China, covering the investment, development, development and development of the market and the Internet. The revenue of the collection mainly comes from (I) the customizable episode broadcasting rights to radio stations, web platforms or third-party developers; (ii) the subscription episode broadcasting rights from web platforms or web publishers to radio stations, third-party developers or web platforms; and (iii) the provision of customized subscription services based on the subscription platform sheet.

According to Frost Sullivan's report, according to the revenue of the 2019 episode and the number of premiere and rebroadcast episodes, the collection ranked sixth among all producers and distributors in China in 2019, with a market share of 1.8% and 2.1%, respectively.

Negative factor

IQI is one of the largest customers of the collection, accounting for 69.2% of its total revenue for half a year by the end of June 2020. If the collection is unable to maintain a relationship with Aiqi, or if Aiqi loses its position in the military market or is no longer welcomed, its obligations, business conditions and operating conditions may be significantly adversely affected.