| Elite Partners | | 24-May-23 | | Could not come to a consensus regarding the Issues, which includes (1) the accounting policies regarding the revenue recognition of the content-related business adopted by the Company; (2) the Company’s valuation of the expected credit loss regarding the Loan as of the date of this announcement provided by Yueying Xingyao Information Technology (Tianjin) Co., Ltd., a subsidiary of the Company, to the Borrower and (3) the valuation of the collateral under the Loan (i.e. 35% of the total issued shares of the Borrower). |
