Theme looses all the theme settings done by me when Wordpress is updated


Recently I had made one of my sites live. I had set up the whole site with all the desired modifications done to themes settings in my local system, then replaced all the paths to live once in the database and then uploaded it to live server. But all the theme settings done were being lost and were replaced with default settings (background image, font color, contents etc). I had to redo all the settings once again. Now there was an WordPress update available for this, so after we updated the site to latest version of WordPress again all the settings are being replaced with default theme settings.

Could you please let me know what might be the cause for this and possible solution for this, as the site is live and we need to sort this out urgently.

For some reasons I cannot submit my text, please check the attached picture.