Music as a result of falling into the dilemma of capital chain and vacant market share, is being quickly eroded by other Internet TV companies, Storm TV is one of them.
December 8, 2017, Storm Group Co., Ltd. (300431.SZ, referred to as the 'Storm Group') issued resumption announcement that the transfer of control of a subsidiary of the Group Storm - Storm commander Shenzhen Technology Co., Ltd. (hereinafter referred to as 'Storm commander') equity of the original restructuring plan is terminated, changed from two other companies to increase 800 million yuan shares of the commander of the storm, and the storm group of listed companies still have actual control of the commander of the storm.
The news came out, the stock price 19.42 yuan before the resumption of Storm Group shares daily limit for two consecutive trading days, as of December 15 share price closed at 26.61 yuan, up 37 percent compared to before the rise of the suspension.
Reorganization terminated, sell equity
In fact, in the original restructuring plan, Feng Xin, chairman of Storm Group intends to sell Internet TV Storm TV's controlling stake.
According to the announcement, Storm Group said the company intends to introduce strategic investors for Stormwind by way of capital increase and share transfer, etc. According to the forecast of Stormwind Group based on expected financing scale, Stormwind Group will lose control of Stormwind after the completion of this transaction.
Get out of control of Storm Commander, which is the initial idea Feng Xin, chairman of Storm Group in suspension on July 19, 2017.
At this point the music from the network (300104.SZ), the former chairman of the United States Jia Yunting leave the United States within a few days, and Storm Group's share price has dropped from the highest 327 yuan per share dropped to 20 yuan, which indeed make Storm Feng Xin, chairman of the board is very Embarrassed: Storm Group two years ago when the stock price is still 180 yuan, Feng Xin once issued in the name of the holdings of the Storm Group Proposal, and promised to make a loss by Feng Xin himself pay, if employees want to holdings of company stock, The chairman himself funded half of the cost of overweight.
The market has no mercy - after 24 months, the stock price of Storm Group fell from 180 yuan to 20 yuan nearby.
The unfavorable situation faced by Feng Xin and his Storm Group also included a 350 million yuan loss in 2016 as a result of the strategy of selling low-cost hardware in order to seize the big-screen Internet TV market. The newly established Storm Commander adopted a strategy of selling hardware at a low price. Fall into the capital chain dilemma on the Internet TV industry's negative impact.
However, after nearly five months of long negotiations, the Storm Commander escaped the fate of being sold.
Suzhou Dongshan Precision Manufacturing Co., Ltd. (002384.SZ, hereinafter referred to as 'Dongshan Precision'), Rudong Xin Hao Industrial Investment Fund Management Center (Limited Partnership) (hereinafter referred to as 'Rudong Xinhao' Xin securities investment background) and Stormwind Group and Storm Group negotiated the transaction plan and signed the capital increase agreement.
According to the parties to determine the transaction method and transaction amount, the transaction does not involve the Storm Group held by the storm the transfer of foreign equity stake, from Dongshan Precision and Rudong Xinhao total capital increase of 800 million yuan to the storm.
After the capital increase, Storm Group held a stake of 21.5819% of the Storm Commander and actually holds 31.9733% of the voting power of Storm Commander through a concerted action agreement with Stormwind Holdings Limited (hereinafter referred to as Stormwind) Marshal has actual control.
Economic Observer reporter asked the Storm Group as an investor, the company's securities department responded that the current storm leader operating income has more than half of Storm Group's operating income in 2017 is still expected to be a loss, but the financial data show that has been improving.
Shareholders evolve
Storm commander, as the name implies, the company's name by the 'storm' and 'commander', of which 'Storm' from the Storm Group, 'Marshal' is Qingdao Haier Co., Ltd. (600690.SH, hereinafter referred to as Qingdao Haier) Brand name.
On June 15, 2015, when Stormwind was established, its predecessor was Shenzhen Commander Intelligent Technology Co., Ltd. (hereinafter referred to as 'Commander Chuangzhi)' with a registered capital of 30 million yuan, including Qingdao New Day Shun Logistics Services Limited (hereinafter referred to as 'Qingdao New Day Shun') capital contribution of 24 million yuan, accounting for 80% of shares.
Business information shows that Qingdao Sunriver has now changed its name to Qingdao Rizhao Shun Chuangzhi Investment Management Co., Ltd. (hereinafter referred to as 'Sun Shizuangzhi'), the only shareholder of the British Virgin Islands Haier Washing Machine Holdings (BVI) Limited Company (Haier erected overseas companies with a registered capital of 24 million US dollars), Nisshin Shun Chi on the legal representative of Haier Group Vice Chairman, Group CEO Zhou Yunjie.
As a result, commander in chief of the initial shareholders of the background is very clear, from the traditional home appliance giant Haier led the establishment of funded.
On September 18, 2015, Storm Group and Guangdong Aofei Animation Culture Co., Ltd. (hereinafter referred to as 'Aofei Animation') took the lead in creating wisdom. On February 29, 2016, Stormwind Co., Ltd. joined the shareholding.
Commander in chief, soon changed its name to storm commander.
At this point, Storm Group and Storm Holdings held a total of 47.36% stake in Qingdao Nisshin Sun Shishun holding 22.11%, Storm Group to replace Haier became the actual controller of the storm commander, the company began to develop and national sales of large-screen Internet TV, products Was named Storm TV, online sales go is the official website, Jingdong, Lynx and other online stores; offline sales are mainly relied on Haier's home appliance sales network. Haier logistics and transportation is the use of the Shun Logistics System.
The chairman of the company changed from Haier's Diao Yunfeng to the actual controller of Storm Group Feng Xin; the general manager changed from Haier's Fan Fengguang to Liu Yaoping. Prior to that, Liu Yaoping had been the marketing president of Skyworth TV in China before, due to the development of Internet TV and Feng Xin Get acquainted with Storm CEO (Chief Operating Officer) until 2015.
In just two and a half years of the storm commander of the company's development process, as the traditional home appliance manufacturers Haier's ownership is actually a little fade out.
In Storm Group's newly announced storm command structure, Sun Shunchi transferred 14.4001% of its storming commander's shares to Ningbo Hangchen Investment Management Partnership (Limited Partnership) and has not yet completed the registration of changes in business procedures.
Storm Group Securities Department Economic Observer reporter response: Although Haier is gradually withdrawn from the equity, but Haier to participate in the storm commander in this part of people are still there, and formed a more stable team.
Liu Yaoping, general manager of Storm Tycoon has also publicly stated that the company in addition to the shareholders Storm Group, Austrian flying animation, Nissin and three Connaught video, is the management team shares.Experience in the past shows that this ownership structure can be more Powerfully motivate the team to storm TV R & D sales.
Although the Storm Commander has lost money so far, its development has so far only a short period of two years, but its development has been surprising: the operating revenue in 2017 is expected to more than 1 billion yuan, accounting for more than half of Storm Group's operating revenue; 2 On August 28, Storm Group announced that its cumulative storm TV shipments exceeded 1 million units in just one year or so, becoming the second-largest Internet TV company in terms of shipments.
Storm TV design like a computer using the split can be upgraded way, with Bluetooth across the board, the main storm voice search and 4K high-definition screen, and the use of low-cost sales strategy, with the sale of the same price than music as cheaper .Therefore, the storm After the introduction of TV, it received favorable market.
According to the semi-annual report of 2017, from January to June, Storm Group received a revenue of 826 million yuan and Storm Commander had a revenue of 560 million yuan. According to this single figure, Storm Commander's revenue accounted for 67% of the entire Storm Group.
Economic Observer to the Storm Group asked whether the company's focus has shifted to Storm Commander upstairs, Storm Group Securities Department said that although Storm TV revenue has accounted for more than half of the group's revenue, but the company is still developing other products, such as non-screen TV , And Storm Mirror products.
On the interactive platform of Shenzhen Stock Exchange, investors are most concerned about the hot issues, namely, the operation of storm TV, whether to share between mobile phones and TV stations, and how to build Storm TV's national sales network.
For Feng Xin, the current results may be the best result, the two companies to increase 800 million yuan on the storm TV 'blood', and Feng Xin did not lose the control of Storm commanders.
However, the storm TV so far has been the biggest loss of losses, which is the reason for the stock price slump Storm Group in fact all parties are observing the power of Internet TV giant music fell, it can rise again a storm it?