<SEC-DOCUMENT>0001564590-21-058774.txt : 20211130
<SEC-HEADER>0001564590-21-058774.hdr.sgml : 20211130
<ACCEPTANCE-DATETIME>20211130141021
ACCESSION NUMBER:		0001564590-21-058774
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20211130
FILED AS OF DATE:		20211130
DATE AS OF CHANGE:		20211130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Kuke Music Holding Ltd
		CENTRAL INDEX KEY:			0001809158
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39859
		FILM NUMBER:		211459181

	BUSINESS ADDRESS:	
		STREET 1:		BUILDING 96, 4 SAN JIAN FANG SOUTH BLOCK
		STREET 2:		CHAO YANG DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100024
		BUSINESS PHONE:		86-10-6561-0392

	MAIL ADDRESS:	
		STREET 1:		BUILDING 96, 4 SAN JIAN FANG SOUTH BLOCK
		STREET 2:		CHAO YANG DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100024
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>kuke-6k_20211130.htm
<DESCRIPTION>6-K
<TEXT>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:4pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a>UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C. 20549</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 6-K</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">REPORT OF FOREIGN PRIVATE ISSUER</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PURSUANT TO RULE 13a-16 OR 15d-16</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For the month of November, 2021</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Commission File Number: 001-39859</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:24pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Kuke Music Holding Limited</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Building 96<br />4 San Jian Fang South Block<br />Chaoyang District, Beijing 100024<br />People's Republic of China<br />+86-010-6561 0392</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Address of principal executive office)</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form 20-F <font style="font-family:Segoe UI Symbol;">&#9746;</font> Form 40-F <font style="font-family:Segoe UI Symbol;">&#9744;</font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <font style="font-family:Segoe UI Symbol;">&#9744;</font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <font style="font-family:Segoe UI Symbol;">&#9744;</font></p><a name="_AEIOULastRenderedPageBreakAEIOU1"></a>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a><font style="font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBITS</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">99.1</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="padding-left:0.25pt;padding-Right:0.25pt;padding-Top:0.25pt;padding-Bottom:0.25pt;width:92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="kuke-ex991_6.htm"><font style="text-decoration:underline;">Press release - Kuke Music Holding Limited Reports Third Quarter 2021 Results</font></a></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURE</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Kuke Music Holding Limited</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ He Yu</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Name:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">He Yu</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Title:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="padding-left:0.25pt;padding-Right:0.25pt;padding-Top:0.25pt;padding-Bottom:0.25pt;width:43%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Chief Executive Officer and Director </p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a>Date:&nbsp;&nbsp;November 30<a name="_AEIOULastRenderedPageBreakAEIOU3"></a>, 2021</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit Index</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit No.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:6pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:6pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:6pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 99.1</p></td>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>kuke-ex991_6.htm
<DESCRIPTION>EX-99.1
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#DD5900;font-size:16pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Kuke Reports Third Quarter 2021 Unaudited Financial Results</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">BEIJING, Nov. 29, 2021 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading provider of classical music content, copyright licensing, subscription, and smart music learning solutions in China, today announced its unaudited financial results for the third quarter ended September 30, 2021.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Third Quarter 2021 Financial Highlights</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">Total revenue increased to RMB82.7 million (US$12.8 million), up by 343.6% from RMB18.6 million in the same period of 2020. </font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">Licensing and subscription revenue increased to RMB41.0 million (US$6.4 million), up by 162.8% from RMB15.6 million in the same period of 2020 and 3.8% in the second quarter.</font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">Smart music learning solutions revenue increased to RMB27.5 million (US$4.3 million), up by 838.2% from RMB2.9 million in the same period of 2020 and 33.0% in the second quarter. </font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">Live music event revenue</font><font style="color:#000000;"> </font><font style="font-family:Calibri Light;">increased by 134 times to RMB14.2 million (US$2.1 million) from RMB 0.1 million in the same period of 2020 and decreased by 40.5% from RMB23.8 million in the second quarter.</font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">Loss was RMB24.4 million (US$3.8 million), compared to RMB12.3 million in the same period of 2020 and RMB11.4 million in the second quarter. </font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">Non-IFRS profit<sup style="font-size:85%;line-height:120%;vertical-align:top">[1]</sup> was RMB20.5 million (US$3.2 million), compared to non-IFRS loss of RMB8.9 million in the same period of 2020 and non-IFRS profit of RMB18.3 million in the second quarter.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Third Quarter 2021 Operational Highlights</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">As of September 30, 2021, the Company had established collaboration with 5,161 kindergartens and placed 23,430 Kuke smart pianos in these kindergartens. During the third quarter of 2021, the number of active students, namely students who attended at least one paid Kukey course during the period, was 32,608, compared to approximately 5,852 in the third quarter of 2020.</font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">As of September 30, 2021, the total amount of content in the Company's classical music library increased by more than 80 thousand to more than 2.8 million, roughly 2.38 million of which are music tracks and 427,000 of which are audiobooks</font><font style="color:#000000;"> </font><font style="font-family:Calibri Light;">tracks. In addition, video content such as long-form concert videos and opera increased to 4,000 hours. </font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">During the third quarter, the Company established an operating office in the city of Wuhan to provide training and consultation services to collaborating kindergartens and to carry out business development activities.&nbsp;&nbsp; </font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Recent Business Development</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">The 24th Beijing Music Festival ("BMF," or the "Festival") successfully commenced from October 9<sup style="font-size:85%;line-height:120%;vertical-align:top">th</sup> until October 24<sup style="font-size:85%;line-height:120%;vertical-align:top">th</sup>, celebrating this year's theme of "Masters and Celebrations." Spanning across 16 days, the Festival hosted audiences featuring 18 sets in 20 main concerts, encompassing genres including symphonic music, opera, vocal music, chamber music, percussion music, and orchestral film music.</font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">On Nov. 6 and Nov. 7, 2021, the Company completed its initial screening of the 16th International Beethoven Piano Competition in selected cities across China. The Company and Naxos sponsored the competition and launched the screenings, which were shown at Lumiere Pavilions, a high-end cinema chain, in 5 cities across China.</font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-family:Calibri Light;">Naxos China, a subsidiary of the Company, continues to commit itself to becoming a shining beacon to the classical music community in China. Starting from releasing recordings totaling in the single digits, Naxos China is now able to release dozens of recordings annually. On Nov. 12, 2021, Naxos China initiated the production and global release of the album of &#8220;Ding Shande: Essential Art Songs&#8221; in association with Naxos.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. He Yu, Chief Executive Officer of Kuke, commented, "Our third quarter results highlight the resilience we&#8217;ve embedded in our business model and core competencies, as we delivered growth across all of our business segments despite headwinds presented by the resurgence of COVID and regulatory shifts in certain industries. As a first mover in the classical music industry in China, we continue to build on our leadership position by leveraging our ever-expanding copyrighted content library as our core assets, strengthening our strategic partnerships with our global strategic business partner Naxos, and exploring innovative ways to utilize technology to further diversify our monetization method. We believe these efforts will enable us to continue expanding our customer portfolio and strengthen our resilience in any </p></div></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">market environment so that we can continue to amplify the impact of classical music in China and serve </font><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">various needs </font><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">across the entire classical music industry chain</font><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#8221;</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Tony Chan, Chief Financial Officer of Kuke, commented, "We achieved notable revenue growth during the third quarter, increasing our revenue by 343.6% year over year to RMB82.7 million, driven by growth across all our business segments. We achieved year-over-year increases in our licensing and subscription revenue, smart music learning solutions revenue, and live music event revenue of 162.8%, 8.4 times, and 134 times, respectively. In light of rising hardware costs due to the global chip shortage, we are taking preemptive action to decrease our risk exposure, balance our business growth, and improve cost control by slowing the pace of our new kindergarten deployment for our smart music learning business. We have also begun exploring opportunities to engage public schooling to enhance our revenue streams and further diversify our customer base to enhance our resilience given the volatile regulatory and macroeconomic environment. We are confident that these measures will enhance our competitiveness and bolster our financial resilience in the coming quarters."</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%;line-height:120%;vertical-align:top">[1]</sup> Non-IFRS profit/loss of the Company was arrived at 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.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Third Quarter 2021 Financial Results</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Total Revenue</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total revenue increased by 343.6% to RMB82.7&#160;million (US$12.8 million) from RMB18.6 million in the same period of 2020.</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Smart music learning solutions revenue </font><font style="font-family:Calibri Light;">increased by 838.2% to RMB27.5 million (US$4.3 million) from RMB2.9 million in the same period of 2020, primarily driven by increases in enrollment from kindergarten students and sales of smart music learning solutions. Sales of smart music learning solutions increased to RMB18.6 million (US$2.9 million), compared to RMB1.7 million in the same period of last year, and subscriptions from kindergarten students increased to RMB8.9 million (US$1.4 million) from RMB1.2 million in the same period of last year. </font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Licensing and subscription revenue</font><font style="font-family:Calibri Light;"> increased by 162.8% to RMB41.0 million (US$6.4 million) from RMB15.6 million in the same period of 2020. In particular, licensing revenue increased to RMB37.4 million (US$5.8 million) from RMB11.0 million in the same period of last year, primarily driven by growth in the number of license agreements secured during the quarter. Subscription revenue decreased to RMB3.6 million (US$0.6 million) from RMB4.6 million in the same period of last year, due to certain regional lockdowns instituted by the government to control COVID outbreaks which limited our sales team&#8217;s access to potential customers.</font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Live music event revenue </font><font style="font-family:Calibri Light;">increased by</font><font style="font-style:italic;font-family:Calibri Light;"> </font><font style="font-family:Calibri Light;">134 times to RMB14.2 million (US$2.1 million), as the Company began providing performance service to orchestras in China earlier this year. This excludes revenues from the BMF held in October, which will be recorded in the fourth quarter.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Cost of Sales</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total cost of sales in the third quarter of 2021 increased by 342.6% to RMB29.6 million (US$4.6&#160;million) from RMB6.7 million in the same period of 2020. This increase was in line with the increase in the Company's business operations, which resulted in increased amortization for copyrighted music contents, costs of sales for smart music learning solutions, and depreciation of smart pianos placed in kindergartens.&#160; </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Gross Profit</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Gross profit in the third quarter of 2021 increased by 344.1% to RMB53.1&#160;million (US$8.2&#160;million)&#160;from RMB12.0 million in the same period of 2020. Gross margin remained stable at 64.2%, compared to 64.2% in the same period of 2020.</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Smart music learning solutions gross profit </font><font style="font-family:Calibri Light;">increased by 74.7 times to RMB17.1 million (US$2.7 million) from RMB0.2 million in the same period of 2020, as the Company enjoyed higher premiums by engaging high-quality customers, growing its smart music learning solutions revenue at a much faster pace than its associated costs</font><font style="color:#000000;"> </font><font style="font-family:Calibri Light;">during the quarter.</font></p></td></tr></table></div></div></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="text-decoration:none;Background-color:#auto;font-family:'Times New Roman';"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Licensing and subscription gross </font><font style="font-style:italic;font-family:Calibri Light;">p</font><font style="font-style:italic;font-family:Calibri Light;">rofit </font><font style="font-family:Calibri Light;">increased by </font><font style="font-family:Calibri Light;">20</font><font style="font-family:Calibri Light;">8.8</font><font style="font-family:Calibri Light;">% to RMB</font><font style="font-family:Calibri Light;">37.5</font><font style="font-family:Calibri Light;"> million (US$</font><font style="font-family:Calibri Light;">5.8</font><font style="font-family:Calibri Light;"> million) from RMB</font><font style="font-family:Calibri Light;">12.2</font><font style="font-family:Calibri Light;"> million in the same period of 2020</font><font style="font-family:Calibri Light;">, </font><font style="font-family:Calibri Light;">mostly due to </font><font style="font-family:Calibri Light;">improved</font><font style="font-family:Calibri Light;"> economies of scale as the Company grew its copyright licensing revenue at a much faster pace than its associated costs</font><font style="font-family:Calibri Light;">.</font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Live music event gross loss </font><font style="font-family:Calibri Light;">was RMB1.5 million (US$0.3 million) as compared to RMB0.4 million in the same period of 2020, mainly due to marketing and R&amp;D expensed in newly-developed products during the quarter.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Operating Expenses</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total operating expenses in the third quarter of 2021 increased by 263.5% to RMB72.4&#160;million (US$11.2 million)&#160;from RMB19.9 million in the same period of 2020. &#160;</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Selling and distribution expenses</font><font style="font-family:Calibri Light;"> in the third quarter of 2021 increased by 111.1% to RMB15.7 million (US$2.4 million) from RMB7.4 million in the same period of 2020. As sales increased for the Company's smart music learning solutions, distribution expenses increased accordingly. </font></p></td></tr></table></div>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Calibri;font-size:10pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="font-style:italic;font-family:Calibri Light;">Administrative expenses</font><font style="font-family:Calibri Light;"> in the third quarter of 2021 increased by 177.8% to RMB32.7 million (US$5.1 million) from RMB11.8 million in the same period of 2020, mainly due to increases in share-based compensation expenses and increases in research and development expenses.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Operating Loss</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Operating loss in the third quarter of 2021 was RMB20.8 million (US$3.2&#160;million),&#160;compared to RMB9.5 million in the same period of 2020.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Loss for the Period</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Loss was RMB24.4 million (US$3.8 million), compared to RMB12.3 million in the same period of 2020, which was mostly due to the share-based compensation in the amount of RMB15.7 million and net impairment losses on financial assets of RMB24.0 million.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Non-IFRS Profit for the Period<font style="font-weight:normal;">&#160;</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Non-IFRS profit was RMB20.5 million (US$3.2 million), compared to non-IFRS loss of RMB8.9 million in the same period of 2020.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Loss per ADS and Non-IFRS Profit per ADS</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Basic and diluted loss per American Depositary Share ("ADS") were both RMB0.83 (US$0.13) in the third quarter of 2021, compared to RMB0.49&#160;in the same period of 2020.&#160;Basic and diluted non-IFRS profit per ADS were both RMB0.70 (US$0.11) in the third quarter of 2021, compared to non-IFRS loss of RMB0.36&#160;in the same period of 2020.&#160;Each ADS represents one Class A ordinary share of the Company.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Balance Sheet</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of September 30, 2021, the Company had cash and cash equivalents of RMB105.3&#160;million (US$16.3&#160;million).&#160; </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Business Strategy and Outlook</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Classical music is an essential part of people&#8217;s life, serving as the foundation of musical enjoyment across the globe and musical learning across nearly all genres. </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company values its ever-growing classical music copyright library as one of its core assets, and considers its capabilities for acquiring high-quality and diversified classical music copyrights a core competency. Naxos, the Company&#8217;s strategic business partner, is a world-leading classical music label as measured by the number of new recordings it releases and the depth and breadth of its catalogue. </p></div></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company plans to continue to strengthen its relationship with Naxos to expand its content library, leverage its classical music ecosystem covering the entire industry value chain, and devel</font><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">op new, innovative monetization methods through technological innovation to strengthen its unique market position as a classical music leader in China.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Full year 2021 revenue is expected to be between RMB300 million and RMB350 million. After analyzing and taking into account the macro headwinds related to COVID and higher hardware costs due to the global chip shortage, the Company is taking preemptive action to slow down the pace of new kindergarten deployment to balance its business growth, decrease risk exposure, and improve cost control. Furthermore, the Company has also began exploring ways to engage public kindergartens and schools to enhance its revenue streams and further diversify its customer base in light of the changing regulatory and macro environment.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Conference Call Information </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company will hold a conference call at 7:30 A.M. U.S. Eastern Time on Monday, November 29, 2021, (8:30 P.M. Beijing/Hong Kong Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">International:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;</p></td>
<td valign="top" >
<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1-323-794-2093</p></td>
</tr>
<tr>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United States Toll Free:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p></td>
<td valign="top" >
<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">866-548-4713</p></td>
</tr>
<tr>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mainland China Toll Free:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p></td>
<td valign="top" >
<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4001-209101</p></td>
</tr>
<tr>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Hong Kong Toll Free:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p></td>
<td valign="top" >
<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">800-961105</p></td>
</tr>
<tr>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Conference ID:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p></td>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3331288</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A replay of the conference call will remain accessible for one week after the live event by dialing the following numbers:</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:59.94%;">
<tr>
<td style="width:28.7%;"></td>
<td style="width:31.24%;"></td>
</tr>
<tr>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">International:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p></td>
<td valign="top" >
<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1-719-457-0820</p></td>
</tr>
<tr>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United States Toll Free:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p></td>
<td valign="top" >
<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1-888-203-1112</p></td>
</tr>
<tr>
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Access Code:&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</p></td>
<td valign="top" >
<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3331288</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.kuke.com/. </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">About Kuke Music Holding Limited</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Kuke is China's leading comprehensive music group encompassing the entire value chain from content provision to music learning services. By collaborating with its strategic global business partner Naxos, the world's 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 record companies. Leveraging its market leadership in copyrighted classical music content in China, Kuke provides highly scalable classical music licensing and subscription services to over 700 universities, libraries and online music platforms. In addition, it has hosted Beijing Music Festival ("BMF"), the most renowned music festival in China, for 23 consecutive years. Through KUKEY, the Company's proprietary AI music learning system, Kuke aims to democratize music learning via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning. </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Exchange Rate Information </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader.&#160; Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.443 to US$1.00, the noon buying rate in effect on September 30, 2021, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be </p></div></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<div style="width:100%;border-bottom:Double 2.25pt #000000;">
<div style="padding-Bottom:3.56%;">
<p style="margin-bottom:0pt;margin-top:0pt;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">converted into US$ or RMB, as the case may be</font><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, at any particular rate or at all.&#160; For analytical presentation, all percentages are calculated using the numbers presented in the financial statements conta</font><font style="color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ined in this earnings release.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Forward-looking Statements </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Use of Non-IFRS Financial Measures </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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. </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Investor Relations Contact:</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Kuke Music Holding Limited <br />Email:&#160;IR@kuke.com&#160;<br />Phone: +1 (212) 321-0602</p>
<p style="margin-bottom:8pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p></div></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<div style="width:100%;border-bottom:Double 2.25pt #000000;">
<div style="padding-Bottom:3.56%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">KUKE MUSIC HOLDING LIMITED</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">(In thousands of RMB and US$)</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:94.24%;">
<tr>
<td valign="bottom"  style="width:51.34%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">December&#160;31,<br />2020</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">September&#160;30,<br />2021</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">September&#160;30,<br />2021</p></td>
</tr>
<tr>
<td valign="bottom"  style="width:51.34%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="middle"  style="width:16.32%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="middle"  style="width:16.04%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">US$</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">NON&#8209;CURRENT ASSETS</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Property, plant and equipment</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">18,135</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">64,557</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10,019</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Intangible assets</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">263,101</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">332,143</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">51,548</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Right&#8209;of&#8209;use assets</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14,918</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,961</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">615</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Goodwill</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">237,225</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">237,680</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">36,887</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment in a joint venture</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">491</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,000</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">155</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prepayments, other receivables and other assets</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">95,376</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">185,934</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">28,857</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net investments in subleases</p></td>
<td valign="middle"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">202</p></td>
<td valign="middle"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Calibri;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td valign="middle"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Calibri;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Deferred tax assets</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,917</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12,848</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,994</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total non&#8209;current assets<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">638,365</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">838,123</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">130,075</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">CURRENT ASSETS</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Inventories</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">950</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,743</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,357</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Trade receivables</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">181,722</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">101,010</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15,677</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prepayments, other receivables and other assets</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">28,523</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">60,760</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9,430</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net investments in subleases</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">211</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">424</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">66</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due from related parties</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,763</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,306</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">358</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due from shareholders</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash and cash equivalents</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">25,719</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">105,336</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,348</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total current assets<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">238,988</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">278,679</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">43,252</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total assets<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">877,353</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">1,116,802</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">173,327</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">EQUITY</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Issued capital</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">162</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">195</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.03%;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">33</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Reserves</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">655,939</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">919,670</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">142,731</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Equity attributable to equity holders of the parent<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">656,101</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">919,865</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">142,764</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Non&#8209;controlling interests</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,068</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,636</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">875</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total equity<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">661,169</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">925,501</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">143,639</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">NON&#8209;CURRENT LIABILITIES</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contract liabilities</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">587</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">437</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Calibri;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">68</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Deferred tax liabilities</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,447</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,425</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">221</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Lease liabilities</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9,830</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,993</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,396</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total non&#8209;current liabilities<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">11,864</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">10,855</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">1,685</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">CURRENT LIABILITIES</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Trade payables</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">27,310</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">29,346</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,554</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Other payables and accruals</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">67,121</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">53,146</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,248</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contract liabilities</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">24,314</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">36,053</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,595</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due to a shareholder</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">325</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">325</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">50</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due to a related party</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7,177</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Calibri;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Calibri;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Interest&#8209;bearing loans and borrowings</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">60,000</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">40,000</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6,208</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Lease liabilities</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7,660</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15,014</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,330</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Income tax payable</p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10,413</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6,562</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,018</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total current liabilities<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">204,320</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">180,446</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">28,003</p></td>
</tr>
<tr style="height:4pt;">
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total liabilities<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">216,184</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">191,301</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">29,688</p></td>
</tr>
<tr>
<td valign="top"  style="width:51.34%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Total equity and liabilities<font style="font-weight:normal;"></font></p></td>
<td valign="bottom"  style="width:16.3%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">877,353</p></td>
<td valign="bottom"  style="width:16.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">1,116,802</p></td>
<td valign="bottom"  style="width:16.04%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">173,327</p></td>
</tr>
</table></div>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p></div></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<div style="width:100%;border-bottom:Double 2.25pt #000000;">
<div style="padding-Bottom:3.56%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">KUKE MUSIC HOLDING LIMITED</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">UNAUDITED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">UNAUDITED OTHER COMPREHENSIVE INCOME</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(In thousands of RMB and US$, except for per share data)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;">
<tr style="height:11.15pt;">
<td valign="bottom"  style="width:38.46%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style="width:61.54%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">For the three months ended September 30,</p></td>
</tr>
<tr style="height:11.65pt;">
<td valign="bottom"  style="width:38.46%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">2020</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">2021</p></td>
<td valign="bottom"  style="width:20.5%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">2021</p></td>
</tr>
<tr style="height:10.2pt;">
<td valign="bottom"  style="width:38.46%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom"  style="width:20.5%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">US$</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Revenue</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">18,647</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">82,712</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12,837</p></td>
</tr>
<tr style="height:12.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cost of sales</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,681)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(29,572)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(4,590)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Gross profit<font style="font-weight:normal;"></font></p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">11,966</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">53,140</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">8,247</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Other loss, net</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,531)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,554)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(241)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Selling and distribution expenses</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,438)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(15,699)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,436)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Administrative expenses</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(11,768)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(32,689)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5,073)</p></td>
</tr>
<tr style="height:22.65pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Impairment losses on financial assets, net</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(716)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(24,025)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3,729)</p></td>
</tr>
<tr style="height:12.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Other operating expenses</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(12)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Operating loss<font style="font-weight:normal;"></font></p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(9,493)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(20,839)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(3,234)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Share of losses of a joint venture....</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(65)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(10)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Finance costs</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,706)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,960)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(304)</p></td>
</tr>
<tr style="height:12.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Finance income</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">507</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Loss before tax<font style="font-weight:normal;"></font></p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(11,692)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(22,854)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(3,546)</p></td>
</tr>
<tr style="height:12.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Income tax expense</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(564)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,583)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(245)</p></td>
</tr>
<tr style="height:36pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Loss for the period and total comprehensive loss for the period<font style="font-weight:normal;"></font></p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(12,256)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(24,437)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(3,791)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Attributable to:</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Equity holders of the parent</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(12,155)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(24,257)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3,763)</p></td>
</tr>
<tr style="height:12.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Non&#8209;controlling interests</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(101)</p></td>
<td valign="middle"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(180)</p></td>
<td valign="middle"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(28)</p></td>
</tr>
<tr style="height:14.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
</tr>
<tr style="height:14.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Basic</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.49)</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.83)</p></td>
<td valign="bottom"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.13)</p></td>
</tr>
<tr style="height:14.8pt;">
<td valign="top"  style="width:38.46%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Diluted</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.49)</p></td>
<td valign="bottom"  style="width:20.52%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.83)</p></td>
<td valign="bottom"  style="width:20.5%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.13)</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></div></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">KUKE MUSIC HOLDING LIMITED</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">RECONCILIATIONS OF NON-IFRS MEASURES TO THE MOST COMPARABLE IFRS MEASURES </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(In thousands of RMB and US$)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:98.44%;">
<tr style="height:11.15pt;">
<td valign="bottom"  style="width:37.98%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style="width:62.02%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">For the three months ended September 30,</p></td>
</tr>
<tr style="height:11.65pt;">
<td valign="bottom"  style="width:37.98%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">2020</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">2021</p></td>
<td valign="bottom"  style="width:20.66%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">2021</p></td>
</tr>
<tr style="height:10.2pt;">
<td valign="bottom"  style="width:37.98%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom"  style="width:20.66%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">US$</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
</tr>
<tr style="height:12.8pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="middle"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
</tr>
<tr style="height:36pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Loss for the period and total comprehensive loss for the period<font style="font-weight:normal;"></font></p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(12,256)</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(24,437)</p></td>
<td valign="middle"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(3,791)</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Adjustments:</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Amortization and Depreciation</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,248</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6,269</p></td>
<td valign="bottom"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">973</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Share-based compensation</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15,656</p></td>
<td valign="bottom"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,430</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Impairment losses on financial assets, net</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">716</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">24,025</p></td>
<td valign="bottom"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,729</p></td>
</tr>
<tr style="height:11.3pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Income tax effects</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(593)</p></td>
<td valign="bottom"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(998)</p></td>
<td valign="bottom"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(155)</p></td>
</tr>
<tr style="height:21.2pt;">
<td valign="top"  style="width:37.98%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:10pt;;text-indent:-10pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Non-IFRS (Loss)/Profit<font style="font-weight:normal;"></font></p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">(8,885)</p></td>
<td valign="middle"  style="width:20.68%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">20,515</p></td>
<td valign="middle"  style="width:20.66%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;border-bottom:Double 2.25pt;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">3,186</p></td>
</tr>
</table></div>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></body>
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