Last night, music Watch Network Technology Co., Ltd. (Securities Code: 300104 Securities referred to: music Watch) released three quarterly data show that the first three quarters, music Watch business income of 6.095 billion yuan, down 63.67% over the same period last year, Profit loss of 1.652 billion yuan, down 435.02% year on year.
In the third quarter, music Watch business revenue of 554 million yuan, down 91.76%, net profit loss of 1.01 billion yuan, down 586.49%.
Music Watch said in the announcement, due to the first three quarters by the related party debt and financial constraints, liquidity turmoil, the company's reputation and credibility of the negative impact of the company's advertising revenue, terminal income, membership income are more substantial decline. It is expected that the net profit attributable to the shareholders of the Company for the year ended 2017 is a loss.