December 27，Hainan Yanoda Yuanrong 188bet Live Casino Co., Ltd. GEM IPO review status changed to “Termination (Withdrawal)”。December 22, 2021，Hainan Yanoda Yuanrong 188bet Live Casino Co., Ltd. applied to withdraw the issuance and listing application documents。According to Article 67 of the "Shenzhen Stock Exchange GEM Stock Issuance and Listing Review Rules"，Shenzhen Stock Exchange decided to terminate the review of its initial public offering and listing on the GEM。

As understood，January this year，Hainan Yanoda Yuanrong 188bet Live Casino Co., Ltd. has submitted a listing application to the Shenzhen Stock Exchange GEM and it has been accepted。As understood，Yanoda plans to issue no more than 40 million shares to the public，Recruiting 4.3.2 billion yuan，Invested in the construction of rainforest characteristic 188bet Live Casino projects respectively、Quality improvement, upgrading and efficiency improvement project、Smart 188bet Live Casino project and Yanoda Cultural 188bet Live Casino Talent Training Center project。According to the disclosure in the prospectus，The funds raised will be invested 9538 in the above four projects respectively.500,000 yuan、2.4.1 billion yuan、3874.930,000 yuan and 5664.570,000 yuan。

188bet Live Casino’s main business is the development and operation management of scenic spots，The 188bet Live Casino Scenic Area is one of the 5A-level scenic spots in Hainan Province，The main service is landscape tour、Scenic Area Transportation、Creative Play、Catering and Hotel、Product sales、Scenic area management services, etc.。But in recent years，The number of tourists in 188bet Live Casino Scenic Area is declining，Scenic area revenue also continues to decline。2017、2018、2019 and the first half of 2020，The passenger flow of 188bet Live Casino Scenic Area is 229.870,000 people、185.830,000 people、186.800,000 people and 26.610,000 people。Scenic spot revenue，2017、2018、2019 and 2020，188bet Live Casino achieved revenue of 3 respectively.4.8 billion yuan、3.1.6 billion yuan、300 million yuan and 1.4.9 billion yuan，The operating income in 2020 dropped by 50% year-on-year.34%。Net profit during the same period was 8723.320,000 yuan、8091.090,000 yuan、7933.520,000 yuan and 1016.090,000 yuan，Net profit in 2020 fell by 87% year-on-year.19%。

For sprint IPO，Yanoda Scenic Area begins to seek breakthroughs。March 18，Hainan Yanoda Yuanrong 188bet Live Casino Co., Ltd. and American Discovery Group signed a preliminary cooperation agreement on cultural 188bet Live Casino projects。This project is a comprehensive tourist destination project of LBE Live Entertainment Department under Discovery Group，The construction content mainly includes DISCOVERY Natural Ecological Park、DISCOVERY Jungle Adventure Water Park、DISCOVERY Hotel and DISCOVERY Rainforest Resort, etc.。

Currently，The Hainan Yanoda Discovery Comprehensive Resort Project has started construction in the Yanoda Rainforest Cultural 188bet Live Casino Area in November 2020。The planned area of ​​this project is about 1,500 acres，It will be completed and put into operation in 3 phases within 5 years，The first phase of the Discovery Valley project will be open to tourists from around the world by the end of next year。The project will be built into a paradise、Hotel、A world-class cultural and 188bet Live Casino complex integrating three major business clusters。

It is reported，Yanoda also cooperates with Hainan Provincial 188bet Live Casino Investment in 188bet Live Casino project。June 8, 2020，Yanoda and Hainan 188bet Live Casino Investment and Development Co., Ltd. held a strategic cooperation framework agreement signing ceremony，Both parties plan to carry out in-depth cooperation in 188bet Live Casino projects，Make full use of resource advantages to carry out two-way empowerment，Complementary advantages、Integrated innovation and other cooperation methods，Create a new pattern of Hainan 188bet Live Casino development，And through business cooperation and innovation，Achieve leapfrog development。

Previously，Media reports，Except for poor performance，188bet Live Casino also has loopholes in management，This company has been accused of constructing buildings (structures) without approval、Start construction of scenic spot projects without obtaining a construction permit，Respectively received by Baoting County Comprehensive Law Enforcement Bureau、Two administrative penalties from Baoting County Housing and Urban-Rural Development Bureau。Ownership structure，188bet Live Casino’s equity is relatively dispersed，The company may have the risk of unstable control。