Xinli Media, which was purchased by Yuewen Group for a large price, encountered the “worst era”.
Editor’s note: This article comes from Tianzhong.com’s WeChat public account “Like Sany” (ID: Xiangsanyi007), reporter/Li Qingyuan.
“Jinjiang Literature” once again entered the microblogging hot search list, its original contract author “墨香铜臭” was suspected of being illegally published and was arrested, “ink and copper smell” is The original author of this summer’s hit drama “Chen Qing Ling”. In the past month, on the microblogging #晋江修文收费#, #晋江文学城停更#, #晋江文学城改改声明# and other topics have once again brought the Jinjiang Literature City under the Reading Group to the forefront.
One after another, the storm of Jinjiang’s parent company is a serious blow. Jinjiang CEO Huang Yanming recently publicly stated that the “winter” of the entire web environment is coming. There are other online reading platforms, and it is difficult to make profit in its own copyright operation. The energy of the text-based giant beast in the capital market seems to be weakening.
Stall reading group
The reading group (00772.HK), which relies on Tencent, recently released its financial report for the first half of 2019. The data shows that in the first half of this year, the reading group achieved a total revenue of 2.97 billion yuan, an increase of 30.1%; but the operating profit under the general accounting standards of 528 million yuan, down 12.6% year-on-year; net profit was 393 million yuan, down 22.4% year-on-year The total assets were 26.232 billion yuan and the asset-liability ratio was 28.4%.
Reviewing the article, it surged 86% on the day of the Hong Kong Stock Exchange in 2017, the stock price hit HK$110, and the market value approached 100 billion. As for the situation at the time, the young reading seems to be promising, but I don’t know if this is the best. The results are gone.
Now its share price continues to hit record lows. The latest stock price is only 24 Hong Kong dollars, compared with the highest 110 Hong Kong dollars, a drop of nearly 70%, and the endless situation, as of the issue of the market value of only 25.5 billion Hong Kong dollars, compared with the highest market value, evaporation nearly 70%. The management of the reading group believes that its share price