In this paper, we present the updated Audio-Visual Speech Recognition (AVSR) corpus of MISP2021 challenge, a large-scale audio-visual Chinese conversational corpus consisting of 141h audio and video data collected by far/middle/near microphones and far/middle cameras in 34 real-home TV rooms. To our best knowledge, our corpus is the first distant multi-microphone conversational Chinese audio-visual corpus and the first large vocabulary continuous Chinese lip-reading dataset in the adverse home-tv scenario. Moreover, we make a deep analysis of the corpus and conduct a comprehensive ablation study of all audio and video data in the audio-only/video-only/audiovisual systems. Error analysis shows video modality supplement acoustic information degraded by noise to reduce deletion errors and provide discriminative information in overlapping speech to reduce substitution errors. Finally, we also design a set of experiments such as frontend, data augmentation and end-to-end models for providing the direction of potential future work. The corpus and the code are released to promote the research not only in speech area but also for the computer vision area and cross-disciplinary research.