In the evening of the last night, StormTech released its 2016 earnings report, with revenue of 1.647 billion yuan last year, an increase of 152.61% from the same period of last year. However, net profit decreased by 69.42% year-on-year to approximately 53 million yuan.
Storm Technology disclosed in the announcement that during the reporting period, the year-on-year increase in operating income of the company was mainly attributed to the Internet TV business of its subsidiary, Shenzhen Storm Windsor Technology Co., Ltd., and its online payment service business. Among them, Storm sold approximately 800,000 Internet TVs in 2016, with sales revenue of RMB 915 million, and sales revenue increased by 633% year-on-year. During the reporting period, online paid service revenue increased by 264% from the previous year.
In addition, the storm indicates that the reasons for the decline in profit during the reporting period are:
1. The price of TV products such as television panels has risen sharply in the TV industry, leading to a substantial increase in the cost of TV products. In addition, the Storm Commander is in the period of market expansion, increasing investment in brand promotion, increasing marketing efforts, and increasing marketing and promotion costs. .
2. In 2015, the company’s transfer of certain equity held by Beijing Storm Mirror Technology Co., Ltd. and the remaining equity in accordance with the re-measurement of fair value and other matters confirmed the investment income of 104 million, and the impact of 2016 investment income on the company’s net profit was higher than that of 2015 significantly reduce.
3. To further establish and improve the long-term incentive mechanism of the company, attract and retain outstanding talents, fully mobilize the enthusiasm of the company's management personnel and core team, effectively combine the interests of shareholders, the interests of the company, and the interests of employees, so that all parties can Concerned about the long-term development of the company, the company launched a total of two equity incentive plans, resulting in a substantial increase in equity incentive expenses.
Storm mirror business into focus
According to statistics, Beijing Storm Mirror Technology Co., Ltd., established in April 2015, is a subsidiary of Stormwind Group and independently operates Storm Mirror's VR product “Magic Mirrorâ€. With its first-mover advantage, it quickly occupied the domestic market, and Stormwind Group's stocks have thus risen many times and become one of the most attractive stocks of the year.
However, although Stormy Sunglasses released several VR products within a year, it is mainly based on mobile phone boxes. From the outside, such VR glasses experience is not extreme enough, and as more and more companies are involved in the VR market, its The competition is becoming increasingly fierce. Investors have calmed down from the madness of VR.
Statistics show that in the first quarter of 2016, the total financing scale of the VR industry reached 816 million yuan, and a total of 18 startup companies obtained financing. In the second quarter, only 5 newly-funded startup companies were newly acquired. After Storm Mirror won the RMB 230 million in Series B financing in January this year, there was no new financing action. At the end of last year, CEO Huang Xiaojie issued an open letter confirming that the Storm Mirror team had reduced the number of the original 500 to 300 and said that “this capital winter is very cold, for our once over 500 team. In terms of terms, there is a lot of operational pressure, so we did splitting and layoffs some time ago."
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Yangzhou IdealTek Electronics Co., Ltd. , https://www.idealtekpower.com