This article is from WeChat public account: sprout NewSeed (ID: pelink) , author: Charlotte, title figure from: vision China (Group Storm CEO Feng Xin)
“From the peak to now there are only a dozen employees left, and the Storm Group is lost in the storm.”
A paper announcement once again exposed the embarrassment of the storm walking on the edge of the abyss to the spotlight.
Newseed December 3 news. Last night, Storm Group (stock code: 300431) issued a notice saying that the company’s operating conditions have suffered significantly. Due to the change, a large number of personnel have been lost. Except for Mr. Feng Xin, the company’s senior management personnel have all resigned, and the securities affairs representative who assisted in information disclosure affairs has also resigned. The company currently has more than 10 people. Due to tight funding conditions, the company was in arrears with salaries of some employees.
As of press time, stocks of Storm Group continued to fall. The stock price of the once “dark stock” has now dropped to 3.22 yuan, with a total market value of less than 1.1 billion yuan.
People go to the building, webpage, APP”Hang up”
For the past six months, storms have been turbulent.
On the one hand, Feng Xin was apprehended, all company executives left and faced the risk of delisting; on the other hand, starting from the end of November, there were problems with the Storm PC and App, which could not be opened normally. Sprout found that the official website has garbled typography for at least a week, and the app shows that the network is abnormal and can no longer be used.
Previously, a screenshot of a workplace social app has been circulating on the Internet. There is only one developer in Storm. It is estimated that this technology brother has also left.
In the evening of November 27, Fengfeng Group issued a reminder announcement about the suspension of the company’s main business, saying that due to the default of the server room hosting fees of the partner, the partner has terminated the provision of services, resulting in the company’s website and mobile client being unable to provide normally service.
On October 30, Fengfeng Group announced the first three quarterly results. In the third quarter of 2019, the Storm Group achieved revenue of approximately 10 million yuan, a decrease of 95.87% year-on-year, a loss of 386 million yuan, a decrease of 215.76%; the first three quarters, the storm group’s revenue was approximately 93.6 million yuan, a decrease of 90.95% , Loss of 649 million yuan.
The financial report also disclosed that the current net assets of the Storm Group was -630 million yuan, and only 3.317 million yuan of funds remained on its account.Production fell to 360 million yuan. The company predicts that the net profit in 2019 will be negative, mainly due to the provision for impairment of goodwill, provision for impairment of long-term equity investments, and provision for bad debts based on the operating conditions of the investee company and creditors, and the company’s advertising business income was less than expected.
The tree collapsed. At the same time as the financial report was announced, Storm Group announced the departure of several executives, claiming to have received the resignations of Zhang Pengyu, the company ’s deputy general manager, Zhang Lina, the chief financial officer, and Yu Zhaohui, the company ’s securities representative. The original expiration date was December 13, 2020.
The Shenzhen Stock Exchange then urgently sent a letter of concern to Storm Group, saying that in addition to the general manager Feng Xin who had been approved for arrest, the company’s senior management staff had all resigned, and the securities affairs representative assisting in information disclosure had also resigned .
According to the “GEM Stock Listing Rules”, “financial accounting reports for the most recent year show that the audited net assets at the end of the year are negative, which will trigger a suspension of the listing mechanism.” This also means that if the storm group’s net assets in 2019 are negative, its shares will be suspended from listing.
The collapse of ecological investment mergers and acquisitions, trapped
In 2005, under the leadership of Jinshan, Feng Xin, the “first bucket of gold”, decided to start a business.
In the early days of entrepreneurship, Feng Xin was looking for investment. He first approached Zhou Hongyi, who said that I would not do it in this direction; then he looked for Lei Jun, who said he would consider it for two weeks. After waiting for three days, Feng Xin decided to start his own job.
After several twists and turns, Storm Group landed on the Growth Enterprise Market in 2015. Immediate daily limit, the stock price once reached 123 yuan. According to news reports that year, two months after the storm was listed, 10 billionaires, 31 millionaires and 66 millionaires were born inside.
The scenery is infinite. After Fengfeng Technology went public, it proposed a global DT entertainment strategy in May 2015, and completed the layout of five major businesses: VR, TV, show, video, and culture. Storm Games has also completed the whole industry chain layout of “R & D + distribution + overseas + fund investment”.
Holding hundreds of millions of players every day, Feng Xin urgently needs content to fill it. Previously, Fengfeng tried to acquire the equity and team of Straw Bear Pictures, Lidong Technology, and G & P Technology through asset mergers and acquisitions, and entered the three major businesses of film, television, and overseas.
Video decoder and audio decoder will switch the best three decoding methods for video.
Data show that in 2009, the total number of storm video users reached 280 million, accounting for 73% of the total number of Internet users at that time, and the number of online users reached 25 million every day, second only to QQ and Thunder.
On March 24, 2015, Fengfeng Technology, with its PC player “Storm Video” as its core business, was listed on the Shenzhen Stock Exchange’s GEM, with an issue price of 7.14 yuan / share. In just 40 days, the storm picked up a total of 36 daily limit boards, and the stock price soared to 327 yuan / share, which was called “GEM stock” by the industry, and Feng Xin also reached its peak.
At the scene of ringing the bell, Feng Xin once said: “Today I am not alone here. Now there are 50 million Internet users who use Storm every day, 200 million active users per month, and I represent 200 million Storm users today. Coming to A shares. Storm will open a new future after listing, let Storm enjoy A shares and let A shares enjoy Storm. “
Yet thinking of heaven, thinking of hell. The storm is not LeTV, nor is Feng Xin Jia Yueting. For example, the economist Song Qinghui commented, “Like its name, the Storm Group quickly rises in the storm, and gradually declines in the storm.”
Accompanying Chinese netizens through the Storm Group for 16 years is now on the verge of fragmentation.
This article is from WeChat public account: shoots NewSeed (ID: pelink) , author: Charlotte