On the evening of July 13, Stormwind Group released the first half of 2018 performance forecast. The announcement shows that Stormwind Group's net profit attributable to shareholders of listed companies from January to June 2018 is expected to be a loss of 85 million yuan to 90 million yuan, while the net profit attributable to shareholders of listed companies in the same period of 2017 was 15.724 million yuan.
According to the announcement, the Internet TV business of Storm Group has grown rapidly. The sales volume increased significantly during the reporting period. Among them, sales in May hit the highest monthly sales volume since the listing of Storm TV. It is expected to achieve operating income of 650 million yuan to 6.62 during the reporting period. 100 million yuan, an increase of 17.22% to 18.11%.
Regarding the reasons for the change in performance, Storm Group said that the net profit attributable to shareholders of listed companies decreased year-on-year, mainly because the Internet TV business was in a period of rapid business expansion. In order to accumulate users, it further seized the market share of the Internet TV and ensured that Storm TV could successfully complete its business. The goal is to increase marketing efforts and increase costs and expenses. At the same time, the company's Internet video advertising business revenue decreased year-on-year, affecting the company's overall profit level.
Storm Group expects non-recurring gains and losses in the first half of 2018 to be between RMB 6 million and RMB 7 million.
On the evening of July 6, Stormwind Group announced that its controlling shareholder and CEO Feng Xin had some shares of Stormwind Group frozen by the government. Affected by this news, the industry once again linked the Storm Group to LeTV.
Under the crisis, Feng Xin released a nearly 10,000-word long article through the Storm Group subscription number, and repeated the mistakes made by Storm Group in the past three years. Feng Xin said: "The personal debt risk will not be passed on to the storm. The storm is still a healthy, branded Internet listed company."
According to the announcement, CITIC Capital (Shenzhen) Asset Management Co., Ltd. applied for property preservation to Beijing Chaoyang District People's Court on the grounds of equity transfer contract disputes, and about 3,271,300 shares of Fengfeng Group under Feng Xin's name. Conduct a judicial freeze.
It is reported that the frozen shares accounted for 4.65% of Fengxin’s total shares of Stormwind Group and 0.99% of the total share capital of Storm Group. The freeze start date is June 26, 2018, and the freeze due date is June 25, 2021.
Feng Xin responded by saying that CITIC Capital is a shareholder of Storm Mirror. In 2017, it proposed the early withdrawal of funds, because the individual stocks have basically been pledged, and they can’t get so much cash at the moment. The current situation of judicial freezing of stocks.
It is understood that in addition to business losses and hardware gross margins are negative "labels", Storm Group's net cash flow from operating activities for two consecutive years in 2016 and 2017 are negative, and therefore received an inquiry from the Shenzhen Stock Exchange. letter.
But for this debt risk, Feng Xin said that the debt risk will not be passed on to the storm group. "The impact on the storm is also very limited, and the risk to myself is still quite large."
Industry analysts believe that Feng Xin's long-formed text has raised the answer to the question, but expressed confidence but could not give a basis. In fact, the public's confidence in the storm will be greatly reduced. In the first half of 2018, there will be a performance loss, which will bring greater public pressure to the Storm Group after the equity pledge, which may affect subsequent operations or financing activities.
