龙运国际2021年度报告

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSIONWASHINGTON,D.C.20549 FORM20-F ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR(g)OFTHESECURITIESEXCHANGEACTOF1934 OR ☒ANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthefiscalyearendedMarch31,2022OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Dateofeventrequiringthisshellcompanyreport：Forthetransitionperiodfromto. Commissionfilenumber:001-38208 DragonVictoryInternationalLimited (ExactNameofRegistrantasSpecifiedinitsCharter) N/A (TranslationofRegistrant’sNameintoEnglish) CaymanIslands (JurisdictionofIncorporationorOrganization) Suite1508,CentralPlaza18HarbourRoad,WanChai, HongKong,China (AddressofPrincipalExecutiveOffices) LiminLiu,ChiefExecutiveOfficerSuite1508,CentralPlaza 18HarbourRoad,WanChai,HongKong,China Tel:852-35652920 (Name,Telephone,and/orFacsimilenumberandAddressofCompanyContactPerson) SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct: TitleofEachClassTradingSymbol(s) NameofEachExchangeonWhichRegistered OrdinaryShares,parvalueUS$0.0001pershare LYL NasdaqCapitalMarket SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct: None(TitleofClass) SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct: None(TitleofClass) Indicatethenumberofoutstandingsharesofeachoftheissuer’sclassesofcapitalorcommonstockasofthecloseoftheperiodcoveredbytheannualreport. Anaggregateof23,598,371ordinaryshares,parvalueUS$0.0001pershare,asofMarch31,2022. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.Yes☐No☒ Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934.Yes☐No☒ Indicatebycheckmarkwhethertheregistrant:(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☒No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes☒No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,oranemerginggrowthcompany.Seedefinitionof“largeacceleratedfiler,”acceleratedfiler,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Largeacceleratedfiler ☐ Acceleratedfiler ☐ Non-acceleratedfiler ☒ Emerginggrowthcompany ☒ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplying withanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐ †Theterm“neworrevisedfinancialaccountingstandard”referstoanyupdateissuedbytheFinancialAccountingStandardsBoardtoitsAccountingStandardsCodificationafterApril5,2012. Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☐InternationalFinancialReportingStandardsasissuedbythe InternationalAccountingStandardsBoard☒ Other☐ *If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow.Item17☐Item18☐ Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct).Yes☐No☒ (APPLICABLEONLYTOISSUERSINVOLVEDINBANKRUPTCYPROCEEDINGSDURINGTHEPASTFIVEYEARS) IndicatebycheckmarkwhethertheregistranthasfiledalldocumentsandreportsrequiredtobefiledbySections12,13or15(d)oftheSecuritiesExchangeActof1934subsequenttothedistributionofsecuritiesunderaplanconfirmedbyacourt.Yes☐No☐ TABLEOFCONTENTS PageNo. INTRODUCTIONii FORWARD-LOOKINGINFORMATIONiii PartI Item1.IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS1 Item2.OFFERSTATISTICSANDEXPECTEDTIMETABLE1 Item4A.UNRESOLVEDSTAFFCOMMENTS64 Item3.KEYINFORMATION1 Item4.INFORMATIONONTHECOMPANY36 Item5.OPERATINGANDFINANCIALREVIEWANDPROSPECTS64 Item6.DIRECTORS,SENIORMANAGEMENTANDEMPLOYEES75 Item7. MAJORSHAREHOLDERSANDRELATEDPARTYTRANSACTIONS 81 Item8. FINANCIALINFORMATION 82 Item9. THEOFFERANDLISTING 83 Item10. ADDITIONALINFORMATION 84 Item11. QUANTITATIVEANDQUALITATIVEDISCLOSURESABOUTMARKETRISK 95 Item12. DESCRIPTIONOFSECURITIESOTHERTHANEQUITYSECURITIES 96 PartII Item13. DEFAULTS,DIVIDENDARREARAGESANDDELINQUENCIES 97 Item14. MATERIA