Storm audio and Video update prospectus: First three quarters revenue 270 million net profit 30.79 million yuan

Summary: Storm audio and video 27th updated prospectus, the prospectus shows that 2014 1-September, storm revenue 270 million yuan, net profit of 30.79 million yuan. Storm audio and video 2013 revenue 325 million yuan, an increase of 29%; Net profit of 38.54 million yuan, down 31% year-on-year. Storm video

Storm audio and video 27th updated prospectus, the prospectus shows that 2014 1-September, the storm revenue of 270 million yuan, net profit of 30.79 million yuan. Storm audio and Video 2013 revenue of 325 million yuan, an increase of 29%; net profit of 38.54 million yuan, down 31% year-on-year.

Storm audio and video The proposed public offering does not exceed 30 million shares of RMB common stock, which is not less than 25% of the shares after the issue, including: The number of new stocks does not exceed 30 million shares, shareholders in the public offering to investors to transfer the number of shares not exceeding 15 million shares.

According to the previous storm, the fund-raising investment project revolves around the company's main business, the effective implementation of fund-raising projects will improve the "Storm audio and video" Advertising media value and the company's technology research and development level, and improve the company's profitability level.

Storm AV main business costs include bandwidth leasing, video content costs, operating equipment depreciation, intangible asset amortization and other costs.

2014 1-September, 2013, 2012 and 2011, the main operating costs of storm audio and video are 65.46 million yuan, 92.67 million yuan, 63.2 million yuan and 41.52 million yuan.

2014 1-September Storm AV main business costs accounted for 24% of revenue, 2013 is 28.53%, the main reason is due to the current period of the company's copyright purchase expenditure control, and copyright procurement to the licensing period of longer film resources tilt, resulting in the current period of bandwidth leasing expenditure continued to increase, but the cost of video content decreased, Thus the main business costs are basically the same as the previous year.

2014 1-September, 2013, 2012 and 2011, Storm AV Comprehensive gross profit margin of 75.9%, 71.47%, 74.87% and 75.48% respectively.

2014 1-September, Storm audio and video comprehensive gross profit margin than 2013 growth of about 4.43%, the main reason is that when the company's copyright purchase expenditure control, and copyright procurement to the licensing period of longer film resources tilt, resulting in although the current period of bandwidth rental expenditure continued to increase, but the cost of video content decreased, Operating costs are growing at a slower pace than the same period.

As of September 30, 2014, December 31, 2013, December 31, 2012 and December 31, 2011, Storm Audio and video accounts receivable are 160 million yuan, 157 million yuan, 110 million yuan and 43.86 million yuan, accounting for the total assets of the current period of 37.03%, 43.57 %, 39.47% and 22.9%.

As at September 30, 2014, Storm audio and video age within 1 years of accounts Receivable book original value accounted for the total accounts receivable ratio of 83.89%, accounts for 1-2 years of account receivable accounts for the original value of 12.94%, accounting age of 2-3 years of Accounts Receivable book original value accounted for 2.93%, Accounts receivable accounting for more than 3 years accounts for 0.24% of the book's original value.

Storm audio and video stocks before the public sale of shares, the controlling shareholder, the actual control of the Fengxin (micro-bo) directly hold the issuer of 28.4% of the equity, and through Rong-jin, Juffonlion and Xiang Hongtai indirectly control the issuer of 7.26% of the equity, total control issuer 35.65% of the equity; Harmonious growth holds 10.89% of the issuer's equity, the issuer's second largest shareholder.

Cai, the early investor of Storm Audio and video, owns 3,356,820 shares, with a stake of 3.73% per cent.

According to the distribution plan, after the public offering of shares, Fengxin will directly hold 20.28% of the company's equity, and through Rong-jin, Juffonlion and the public-Xiang Hongtai indirect control company 5.18% of the equity, total control issuer 25.46% of the equity;

The harmonious growth will directly hold the issuer's 7.78% stake, still be the issuer's second largest shareholder, and the directors, supervisors, senior managers, and core technical personnel who directly or indirectly hold the issuer's shares shall continue to hold the issuer's shares directly or indirectly.

Therefore, after the shareholder's public offering of shares, the controlling shareholder and the actual controller of the storm audio and video will not be changed, and the ownership structure has not changed significantly, which will not have a significant impact on the corporate governance structure and production operation of the Storm audio and video company.

It is reported that the Storm audio and video was established in 2003, from 2006 onwards 3 rounds of financing: The October 2006 and April 2007 IDG Two investment in 9 million U.S. dollars; December 2008, the main investment, IDG followed the investment of 15 million U.S. dollars.