Storm Group released a performance forecast that the first three quarters of 2018 are expected to lose between 218 million and 223 million yuan. Among them, the loss in the third quarter will be 112 million to 117 million yuan, exceeding the total loss in the first half of the year.
After betting on Internet TV, the storm's loss gap is deepening.
At noon on October 15th, Storm Group released a performance forecast that the first three quarters of 2018 are expected to lose between 218 million and 223 million yuan. Among them, the loss in the third quarter will be 112 million to 117 million yuan, exceeding the total loss in the first half of the year.
The loss in a single quarter exceeded 100 million. This made the analysts who closely followed the Storm Group feel surprised. Storm Group attributed the losses to two major reasons. First, Internet video competition was fierce, advertising revenue declined. Second, TV business was in expansion. Increase marketing and increase costs. However, in the opinion of analysts, it is difficult for the outside world to see the current state of the company.
The increasing pressure on business and capital may make the shareholders of Stormwind lose patience and confidence. Since August this year, the three starting shareholders of Stormwind Group, Ruifeng Liyong, Ronghui, Jinxiang Hongtai and many senior executives Successively took out the reduction plan, and cashed in successively.
Single quarter loss for more than half a year
Storm Group's performance forecast shows that the net profit attributable to shareholders of listed companies in the first three quarters of 2018 was 218 million to 223 million yuan, while the profit for the same period last year was 20,242,200 yuan. Among them, only from July 1 to September 30 The net profit loss was about 112 million to 117 million yuan, while the third quarter of the previous year was 4,157,300 yuan.
'No, it can't be that big.' For the loss of the Storm Group in the third quarter, a large brokerage media analyst could not believe it.
'The Internet TV business is in a period of rapid business expansion. In order to accumulate users, it will further seize the market share of the Internet TV, ensure that Storm TV can successfully complete its business goals, increase marketing efforts, and increase costs. 'In addition to the decline in advertising revenue, TV business Investment is also seen as the main cause of losses by storms.
'In order to pursue faster sales growth, the company began to transform its hardware business. Therefore, in this sense, Storm Group has turned into a TV product provider, not an Internet platform provider. 'The Changjiang Business School tenured professor Xue Yunkui believes that although the sales of TV products of Storm Group can rely on the scale and trust of customers in the past, the promotion strategy can also be packaged as 'AI Assistant Strategy', adding the concept of artificial intelligence, but in essence it can not change the TV products. The homogenization competition pattern. The transformation not only failed to strengthen the company's core advantages, but also completely changed the company's brand positioning and competitiveness.
Storm TV's TV business is currently in the state of 'selling one loss, one selling more and more losses'. The specific data of the third quarterly report has not been disclosed. According to the data of the 2018 mid-year report, the sales of commodities in the first half of the storm group The interest rate was -15.25%, down 7.70% year-on-year. The advertising business revenue fell even more sharply. The advertising revenue in the first half of the year was 860.78 million yuan, a year-on-year decrease of 56.85%.
Storm TV's TV business is currently operated by the company's storm commander. In the previous inquiry letter to the exchange, Storm Group disclosed that in the first half of 2018, Stormwind's operating income increased by 101 million yuan compared with the same period of the previous year, an increase of 18.08% year-on-year. The cost increased by 178 million yuan over the same period of the previous year, a year-on-year increase of 30.29%. The gross profit loss was as high as 105 million yuan, a decrease of 77.053 million yuan over the same period of the previous year.
At the same time, the inventory pressure for the Storm Group should not be underestimated. In the first half of the year, Storm Commander made a provision for inventory depreciation of 70,565,100 yuan, an increase of 70,892,100 yuan over the same period of the previous year.
Shareholders successively reduce their holdings
Storm Group invested in TV and other businesses, and there was no equivalent output in the short term. It is losing the confidence of the company's shareholders, and Feng Xin, the chairman of Storm Group, is facing increasing debt risks.
Before the release of the third-quarter results forecast, Storm Group announced on October 8 that the company's initial shareholder Zhongxiang Hongtai's previous disclosure plan has been implemented. On September 26, 2018, Zhongxiang Hongtai reduced its holdings through auction trading. The company held 226,661 shares of unrestricted shares, accounting for 0.07% of the company's total share capital.
In fact, since August, several of the starting shareholders and supervisors of the Storm Group have successively taken out the reduction plan.
On August 4, Storm Group issued a notice saying that due to its own capital needs, the company's three initial shareholders, Ruifeng Liyong, Ronghui Xiangjin and Zhongxiang Hongtai intend to reduce their holdings by no more than 0.78% of the company's total share capital. The shares, that is, the total does not exceed 2,856,400 shares. The reduction plan will be carried out within 6 months after 15 trading days from the date of disclosure.
The three companies held a total of 5.23% of the shares of Stormwind Group before the reduction. The Tianxue investigation revealed that the three companies are all holding companies of the Storm Group executives. For the concerted action, Feng Xin is the sole executive partner of the three companies. Respectively holding 6.64%, 10.66%, 8.27%.
In addition, Storm Group announced on August 4 that company director Cui Tianlong, assistant president Li Yuanping, and deputy general manager Zhang Pengyu plan to reduce the number of shares in the four months after the 15 trading days from the announcement date, the total number of shares reduced to not more than 285,100. Shares, accounting for 0.09% of the company's total share capital.
Before the reduction, Cui Tianlong, Li Yuanping, and Zhang Pengyu held 0.62%, 0.14%, and 0.08% of the shares of Stormwind Group respectively. The shares of the three people were all derived from the restricted stocks granted by the Storm Group's equity incentives. The purpose of the disclosure is disclosed as the payment of the equity incentive plan personal income tax.
As of the close of October 15, the share price of Stormwind Group has fallen to 8.75 yuan / share, which is not good news for Feng Xin, a high proportion of pledge.
Since 2017, Feng Xin has continuously pledged the shares of the Storm Group held by him. In the first half of the year, he accumulated pledge 12 times, and the pledge ratio reached 70%. By 2018, the pledge ratio has reached 95.35%. Previous June Feng Xin once postponed the repurchase of 6 705.11 million shares of Huachuang Securities.