Stock price falls and stops again storm group encounters storm: a huge loss of 600 million in the third quarter report

category:Finance
 Stock price falls and stops again storm group encounters storm: a huge loss of 600 million in the third quarter report


Storm group again! All executives except Feng Xin have resigned

After yesterdays trading limit, on October 31, storm group fell again. As of the press release, nearly 400000 orders had been placed on the board, with the share price of 4.67 yuan and the turnover of only 15.09 million yuan.

Except for Feng Xin, the general manager who has been approved for arrest, all the senior managers have resigned

On October 31, Shenzhen Stock Exchange issued a letter of concern to storm group, saying that in addition to Feng Xin, the general manager of storm group who has been approved for arrest, all senior managers of the company have resigned, and the securities affairs representative who assists in information disclosure has also resigned. Gem company management department expressed high concern about this. The company is requested to appoint relevant senior management personnel as soon as possible to ensure the stable operation of the company and the timely performance of information disclosure obligations.

A huge loss of 600 million in the third quarter, facing delisting risk

According to the third quarter report released on the evening of the 30th, the company achieved revenue of 93.6 million yuan in the first three quarters, a year-on-year decline of 90.95%; net profit loss of 650 million yuan, a year-on-year loss of 228 million yuan, a year-on-year decline of 184.50%.

The company forecasts a negative net profit in 2019, mainly due to the provision for impairment of goodwill, long-term equity investment and bad debt based on the operation of the invested company and creditors; meanwhile, the companys advertising revenue is lower than expected.

Before that, Stormwind Group continued to disclose the suggestive announcement on the risk of suspension of listing of shares. The net loss of the consolidated financial statements of Stormwind group in the half year of 2019 attributable to the owners of the parent company was 264 million yuan, and the company had a negative risk of net assets attributable to the shareholders of the listed company at the end of 2019 after audit.

According to relevant regulations, if the companys audited financial and accounting report for 2019 shows that the net assets at the end of 2019 are negative, Shenzhen Stock Exchange may suspend the listing of the companys shares.

Storm group: net profit loss of 650 million yuan in the first three quarters

Stormwind group (300431) disclosed the third quarter report in the evening of October 30. In the first three quarters, the company realized revenue of 93.6 million yuan, a year-on-year decline of 90.95%; net profit loss of 650 million yuan, a year-on-year loss of 228 million yuan. The company forecasts a negative net profit in 2019. The main reason is that the provision for impairment of goodwill, provision for impairment of long-term equity investment and provision for bad debts are withdrawn according to the operating conditions of the invested company and creditors; at the same time, the companys advertising business income is lower than expected. In addition, Zhang Pengyu, deputy general manager of the company, Zhang Lina, chief financial officer and Yu Zhaohui, securities affairs representative, resigned.

According to relevant regulations, Shenzhen Stock Exchange may suspend the listing of the companys shares if the companys audited financial and accounting report for 2019 shows that its net assets at the end of 2019 are negative, Stormwind group announced today.

According to the announcement, as of June 30, 2019, the total assets and liabilities of the companys consolidated financial statements were 924 million yuan and 2.1 billion yuan respectively. As of June 30, 2019, the total assets and liabilities of the subsidiary storm intelligence are 470 million yuan and 1.66 billion yuan respectively. The existence of the above matters may cause uncertainty to the companys sustainable operation ability. The company has a negative risk of net assets belonging to shareholders of the listed company at the end of 2019 after audit. If the companys audited financial and accounting report for 2019 shows that the net assets at the end of 2019 are negative, Shenzhen Stock Exchange may suspend the listing of the companys shares.

Storm group explained that in the near future, the companys business situation has undergone major adverse changes, and the capital is tight, which makes it difficult to maintain the normal operation of the company. The companys main business income declined sharply, the recovery of accounts receivable was difficult, and the operation and development were severely restricted. The companys cash flow is tight, and cash inflow has been difficult to support daily operation. The debt burden of the company is heavy, and the company is facing the situation that it is unable to repay in time due to the shortage of working capital. Due to the adverse changes in the above business conditions and other negative impacts, the company has difficulty in paying employees salaries, and the companys personnel continue to drain. According to the relevant requirements of Shenzhen Stock Exchange GEM Listing Rules, the company will continue to perform the relevant obligations of the listed company, and then issue a risk warning announcement every five trading days that the companys shares may be suspended from listing until the risk of suspension is eliminated or the exchange makes a decision on suspension of listing of the companys shares.

Storm group explained that in the near future, the companys business situation has undergone major adverse changes, and the capital is tight, which makes it difficult to maintain the normal operation of the company. The companys main business income declined sharply, the recovery of accounts receivable was difficult, and the operation and development were severely restricted. The companys cash flow is tight, and cash inflow has been difficult to support daily operation. The debt burden of the company is heavy, and the company is facing the situation that it is unable to repay in time due to the shortage of working capital. Due to the adverse changes in the above business conditions and other negative impacts, the company has difficulty in paying employees salaries, and the companys personnel continue to drain.