June 1，Sanfu Outdoor received an inquiry letter from the Shenzhen Stock Exchange regarding the 2020 annual report。Annual report display，188bet Live Casino achieved operating income 4 during the reporting period.6.7 billion yuan，16 more than the previous year.21%，Realized net profit-6545.340,000 yuan，120 less than the previous year.12%。At the same time，188bet Live Casino’s net profit after excluding non-recurring gains and losses has been negative for four consecutive years，Negative net profit for two consecutive years。Please consider 188bet Live Casino’s main business operations in 2020、Changes in the industry environment、Income recognition method、Changes in gross profit margin and other factors，Indicate the increase in operating income during the reporting period，The reasons and rationality for the decline in net profit and net profit after non-recurring gains and losses，And explain whether there is uncertainty about 188bet Live Casino’s ability to continue operating in the future。

Annual report display，188bet Live Casino’s main business income 3.7.6 billion yuan，Other business income 9124.010,000 yuan，188bet Live Casino’s operating income deduction amount is 24.050,000 yuan。Please ask 188bet Live Casino to follow the relevant requirements，Combined with the duration of various businesses that generate operating income during the reporting period、Production and operation conditions、Future business development plans, etc.，List item by item to indicate whether there is any contingency in each type of business、Temporary、No commercial substance or other characteristics，Indicate whether the amount of deduction from 188bet Live Casino’s operating income is sufficient，Related business income that has nothing to do with the main business、Amount of business income without commercial substance、Judgment basis and rationality。

As of the end of the reporting period，188bet Live Casino’s monetary fund balance is 1.4.6 billion yuan，Decreased by 1 compared with the beginning of the period.1.1 billion yuan。At the same time，188bet Live Casino’s net cash flow generated from operating activities in 2019 and 2020 was -4337 respectively.470,000 yuan and-2519.300,000 yuan，And fixed assets were purchased and constructed during the reporting period、Cash paid for intangible assets and other long-term assets is 1.3.3 billion yuan，An increase of 9298 compared with last year.800,000 yuan。Please ask 188bet Live Casino to combine the main business procurement and sales credit policies、Customer Type、Settlement method and other factors，Explain the reason why 188bet Live Casino’s net operating cash flow is continuously negative，In combination with 188bet Live Casino’s debt repayment arrangement、Production and operation needs to explain whether there is currently a tight capital chain，If so, please fully inform the relevant risks。At the same time，Specify the purchase and construction during the reporting period、Disposal of fixed assets、Cash flows from long-term assets such as intangible assets form specific assets。

It was also mentioned in the "Inquiry Letter"，During the reporting period，Six of 188bet Live Casino’s 11 major holding companies suffered losses，Please ask 188bet Live Casino to combine the revenue and profit growth rate of the above-mentioned loss-making subsidiaries in the past five years、Changes in the business environment in the region、Competition in the same industry in each region、Factors such as store growth rate in various regions and changes in customer groups，Analyze and explain the reasons and rationality for the losses of most of 188bet Live Casino's major holding and shareholding companies。Please ask 188bet Live Casino to provide a written explanation on the above issues，Submit relevant explanatory materials to our department before June 9，Also copied to the dispatching agency。