[TechWeb] July 11th news, Tenjin Entertainment released the 2019 semi-annual performance forecast amendment announcement, the net loss in the first half of this year from the original 60 million to 150 million yuan, expanded to 130 million to 230 million. In the same period last year, it was a profit of 208 million yuan.
Regarding the reasons for the change in performance, the announcement showed that the original game products were not profitable, and the new game products were not launched as scheduled, resulting in the failure of some subsidiaries to achieve operating results.
Previously, Tianshen Entertainment once said in the first disclosure of the semi-annual performance forecast that due to the macro policy, some subsidiaries' business performance has declined to varying degrees. The chess game sector, the company’s Shenzhen-based business with Texas Hold'em as its main business Flower Technology Co., Ltd. was affected by the policy. In 2018, it actively shut down the server and removed the Texas Hold'em game. The new game is under development, with a year-on-year decline in performance. The game research and development and distribution sector, mobile game research and development manufacturer Lei Shang (Beijing) Technology The company and game distribution company Beijing Fantasy Yueyou Network Technology Co., Ltd. showed a significant year-on-year decline in performance; the film and television sector, affected by the policy, the performance of Beijing Herun Detang Culture Media Co., Ltd. fell significantly year-on-year.
In addition, the company and its subsidiaries participate in the establishment of the M&A fund as a post-investment partner, which is responsible for repurchasing or the difference due to the share of the priority partner, the intermediate-level partner and the income of the priority partner and the intermediate-level partner. Replenishing obligations and undertaking higher capital costs. (Zhou Xiaobai)