Note 8 - Long-term Investments

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

8. Long-term investments

As of

September 30, 2019,

long-term investment of approximately

RMB0.25

million (approximately

US$0.04

million) represented the Company’s contribution of its pro-rata share of cash investment to

one

of its equity ownership investee entities, Local Chain Xi’an Information Technology Co., Ltd. (“Local Chain Xi’an) in

January 2019.

Local Chain Xi’an was incorporated in

October 2018,

which is preliminarily engaged in providing technical supports to online advertising and precision marketing. The Company beneficially owns

4.9%

equity interest in this entity.

The Company measures this investment which do

not

have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company.