On the evening of August 28th, Stormwind Group (30043 1. SZ) Announced the 20 17 semi-annual report. The data shows that in the first half of the year, Storm Group achieved an operating income of 826 million yuan, a year-on-year increase of 66.89%; The net profit attributable to the parent company was 654.38+057.2 thousand yuan, a year-on-year decrease of 654.38+06.64%.
On the surface, Storm Group still maintains a profit, but judging from the net profit after deducting non-recurring gains and losses, the performance of Storm Group is not satisfactory. The data shows that the net profit attributable to the parent company after deducting non-recurring gains and losses in the same period last year was 7,733,200 yuan, but this year this indicator fell to 1.89 million yuan, down 75% year-on-year, on the verge of loss.
According to the business classification, the largest proportion of business income of Storm Group is hardware sales. The data shows that among the operating income of 826 million yuan, the income from selling goods reached 534 million yuan, accounting for 534 million yuan.
64.6%。 Other income comes from advertising business and online payment business, with income of 6.5438+99 million yuan and 52 million yuan respectively. Among them, the business entity that sells goods is also the financial and technical responsibility of Storm Group.
Shenzhen Storm Commander Technology Co., Ltd. (hereinafter referred to as Storm Commander).
Storm Commander's financial position in Storm Group is quite "weird". Storm Group owns 27.34% equity of Storm Commander, less than 50%. So, conventionally, a storm commander can only be regarded as a storm group.
The joint venture company cannot be merged. But in fact, Storm Commander is the "holding" subsidiary of Storm Group. Storm Group uses extraordinary financial skills to make its subsidiary Storm Commander particularly "sudden" in profit contribution.
Ow ".
"Because the company is the largest shareholder of the company and holds a majority of seats on the board of directors, it actually controls its business activities, so it is included in the scope of merger." Such an explanation in the announcement will direct the scale of this income.
Large enterprises merged into a subsidiary of Storm Group. However, due to the small shareholding ratio, the huge losses of Commander Storm in the first half of the year did not affect the net profit of listed companies, but also caused the net profit attributable to the parent company in the first half of the year.
The situation in which profits remain profitable. Similar situations occurred in Beijing Fengxiu Technology Co., Ltd. (holding 46%), Storm Film (Beijing) Co., Ltd. (holding 35%) and Zhuhai Storm Wu Tong Investment Management Co., Ltd.
Division (holding 49%).
In terms of operation, the data of the semi-annual report shows that in the first half of the year, Storm Commander realized revenue of 560 million yuan and net profit loss of 65.438+0.28 billion yuan. In the same period last year, Storm Commander achieved a revenue of 228 million yuan and a net profit loss.
The loss was 79.08 million yuan. In the first half of 20 17, Storm TV achieved sales of about 350,000 units, up 97% year-on-year. It can be found that while the income is rising, the net profit is also increasing the loss. Gross profit margin data shows that
The gross profit margin of hardware sales in the first half of the year was 7.55%, down 12. 1% year on year.
For a long time, the outside world likes to compare Storm Group with LeTV. In fact, in the past, Storm Group and Letv were indeed similar. Similarly, using the profits and losses of minority shareholders to achieve profits is also a "pie" that draws the ecological circle.
However, Storm Group is not as "willful" as LeTV, and the result may be slower than LeTV.
From the perspective of business layout, the "ecological circle" thrown by Storm Group on 20 16 is exactly the same as LeTV, including three boards: data, platform and content. And letv also has letv's new electronics department.
Technology (Tianjin) Co., Ltd. (hereinafter referred to as LeTV Zhixin) produces terminal hardware, and the layout of production content of LeTV Pictures is the same. Both hardware production is at a loss. According to the latest announcement of LeTV.com, LeEco is the new 20 17.
In the first half of 2008, the loss increased to 2810 million yuan. But there is a little difference between the two. The loss of LeTV hardware is to support its ecosystem. Although LeTV Pictures and LeTV Sports are in a state of stagnation, they are still there.
Management. On the other hand, the original ecological circle of Storm Group has disappeared. In the annual report for the first half of 20 17, Storm Group did not mention the progress of the ecosystem.
Let's take a look at the industries that Storm Group has invested in. The entertainment industry was a big business promoted by Storm Group in those years, and now it is on the verge of bankruptcy. 20 15 July, Storm Group announced that
565,438+00,000 yuan invested in 565,438+0% equity of Shenzhen Gesture Technology, which has a first-class operation team in the domestic Internet performing arts industry. In June of that year, 5438+10, Storm Group held the Internet performing arts platform with an investment of 46 million yuan.
46% equity of Xiu Technology. The entertainment industry, which spent hundreds of millions of yuan, has shown a loss in today's Storm Group. In the annual report of 20 16, Storm Group even wrote down the goodwill of Fengxiu Technology by 6.05 million yuan.
Value. Bi Shizhen, CFO of Storm Group, also publicly stated that the play was not satisfactory. "It didn't take long for us to do PC live broadcast. Pepper and Yingke got up, and the program mode was replaced by a mobile phone. We didn't expect it in the process.
Transparent enough, the team equipment is really not good enough. "
In addition to programs, Storm Group has also set foot in the film industry, sports and other industries. 20 16 March, Stormwind Group announced that it would transfer 31050,000 yuan to combine issuing shares and paying cash.
Methods of purchasing 0/00% equity of Ganpu Technology/KLOC-0, 60% equity of Straw Bear Film and 0/00% equity of Power Technology/KLOC-0. The purchase amounts are 654.38+0.5 billion yuan, 654.38+0.8 billion yuan and 975 million yuan respectively. But in the end,
Due to overvaluation and stricter supervision of mergers and acquisitions in the film and television industry, the plan eventually failed.
Have to say, in the actual operation process, there are too many investment projects beyond the expectations of Storm Group.
Sports industry is also a big industry that Storm Group has high hopes for. At the 20 16 annual report performance communication meeting, Feng Xin proudly mentioned that the development efficiency of Storm Sports is quite amazing, and it was established less than one year ago.
During this period, Series A has raised more than 200 million yuan. In addition, at that time, Storm Group also put forward the advertising concept of "information flow". Specifically, it is to use the pull-down information flow of "Today's Headlines" type to increase the advertising volume.
In fact, judging from the advertising revenue of 20 17 semi-annual report, the situation is not optimistic. 20 17 In the first half of the year, Storm Group achieved advertising revenue of1990,000 yuan, compared with 21/kloc-0,000 yuan in the same period last year. Although the business model has changed, the income has dropped.
On August 15, Stormwind Group released an announcement that may have a significant impact on its future. According to the announcement, Storm Group intends to launch "Oriental fortune securities-Storm Video VIP membership fee trust beneficiary right"
Special plan for production support and financing through the planned issuance of asset-backed securities. The total scale of the special plan shall not exceed 300 million yuan, and the term shall not exceed 5 years. The underlying assets are the VIP membership fee income and quality of Storm Video in the next five years.
Pledge to China Credit Trust Co., Ltd., and promise that the cash income generated from the pledged property is the main repayment source of the trust loan.
According to the underlying assets of the trust, the membership fee income of Storm Video in the next five years will become the key. In other words, Storm Group added a "lever" to itself.
Anyone who has seen Feng Xin, CEO of Storm Group, has a feeling that he is shy and introverted, and more often he is thinking. Perhaps Storm Group, like Feng Xin, has been thinking about which direction to develop.
Any entrepreneur will face these problems, and whether he can handle them well depends on how far he has gone.