The earnings call reveals a decrease in total revenue, event-related revenues, and media rights fees, leading to a significant operating loss. The Q&A section highlights management's lack of commitment to capital returns and unclear responses to strategic questions. Despite a strong cash position, the negative financial results and uncertain guidance, particularly in media rights and operating expenses, suggest a negative market reaction. The market cap indicates moderate sensitivity to these factors, resulting in a predicted stock price movement of -2% to -8%.