Stormwind Technology's revenue in the first quarter was 190 million yuan, a year-on-year increase of 106% turned losses into profit

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Stormwind Technology achieved operating income of 190 million yuan in the first quarter, a year-on-year increase of 105.76%. The revenue growth was mainly due to its business growth and the increase in the scope of consolidation of Storm Superbody TV manufacturer Storm Commander. On April 26, Storm Technology disclosed its first quarterly report for 2016. During the reporting period, the company achieved operating income of 190 million yuan, a year-on-year increase of 106%.

On April 26, Stormwind Technology disclosed its first quarterly report for 2016. During the reporting period, the company achieved operating income of 190 million yuan, a year-on-year increase of 106%; net profit of 3.3955 million yuan, turning a loss into a profit year-on-year.

Stormwind Technology achieved operating income of 190 million yuan in the first quarter, a year-on-year increase of 105.76%. The growth in revenue was mainly due to its business growth and the increase in the scope of consolidation, the manufacturer of Stormwind Superbody TV; Stormwind Technology said that Stormwind Superbody TV has a positive impact on the company's operating income.

Storm Technology's net profit in the first quarter was 3.395 million yuan, compared with a loss of 3.209 million yuan in the same period last year. This was mainly due to the benefit of 5.67 million yuan from the disposal of non-current assets. After deducting non-recurring gains and losses, Stormwind Technology lost 1.41 million yuan in the first quarter, which narrowed compared with the same period last year.

According to Stormwind Technology, its revenue growth was mainly due to its business growth and the increase in the scope of consolidation, the manufacturer of Stormwind Superbody TV, Storm Commander; Stormwind Technology said that Stormwind Superbody TV had a positive impact on the company's operating income. The new generation of Storm Super TV will be released in May.

The financial report shows that Stormwind's brand advertising revenue in the first quarter was 39.65 million yuan, a year-on-year increase of 11%;VIP user value-added business revenue was 10.57 million yuan, a year-on-year increase of 1134%. The first batch of VR products of Storm Mirror have entered 300 stores across the country. However, Stormwind Technology currently only holds a 19.84% stake in Stormwind Mirror.

Feng Xin, CEO of Stormwind Technology, once said that "we also have a lot of pain" to reduce our holdings of Storm Mirror, but suffering from losses during the growth period of Storm Mirror will drag down the company's performance. If the reduction is below 20%, it will not be counted as the company's loss.

Although its performance turned a profit compared with the same period last year, Storm Technology's share price fluctuated recently due to factors such as shareholder reduction. On the evening of March 30, Stormwind Technology successively issued announcements on lifting the ban and reducing its holdings. The announcement stated that the initial restricted shares will be officially listed and circulated from March 31. Subsequently, Baofeng Technology suffered a reduction in holdings by some shareholders.

As of yesterday's close, Stormwind's share price was 71.14 yuan, with a total market value of 19.551 billion yuan.

Editor: vian