On August 22, Tianyu Digital Technology (Dalian) Group Co., Ltd. (002354 SZ, hereinafter referred to as "Tianyu Digital") released its 2024 interim report. The company achieved total operating income of 762 million yuan, a year-on-year decrease of 23.97%. Net profit of the parent

On August 22, Tianyu Digital Technology (Dalian) Group Co., Ltd. (002354 sz, hereinafter referred to as " Tianyu Digital ") released its 2024 interim report. The company achieved total operating income of 762 million yuan, a year-on-year decrease of 23.97% , 's net profit attributable to the parent company was -6.6786 million, turning from profit to loss year-on-year.

revenue, net profit "double decline", the company stopped profit and turned to loss

Specifically, in the first half of 2024, Tianyu Digits achieved operating income of 762 million yuan, a year-on-year decrease of 23.97%; net profit loss was 6.6786 million yuan , a profit of 12.5062 million yuan in the same period last year, turning from profit to loss year-on-year; deducted non-net profit lost 68.293 million yuan, a profit of 990,800 yuan in the same period last year; the net cash flow generated from operating activities was -20.1403 million yuan, last year During the same period, it was 52.6887 million yuan; during the reporting period, Tianyu Digital's basic earnings per share was -0.004 yuan, and the weighted average return on net assets was -0.45%.

Tianyu Digital achieved total operating income of 392 million yuan in the second quarter, a year-on-year decrease of 25.74%, a month-on-month increase of 5.97%; net profit attributable to the parent company - 19.9853 million yuan, a year-on-year decrease of 977.48%, a month-on-month decrease of 250.19%; deducting non-net profit - 82.9615 million yuan, a year-on-year decrease of 2352.04% and a month-on-month decrease of 665.57%.

In terms of products, in the first half of 2024, among the main businesses of Tianyu Digital, the data traffic business revenue was 746 million yuan, a year-on-year decrease of 22.29%, accounting for 97.99% of operating income; the e-sports platform revenue was 13 million yuan, a year-on-year decrease of 14.37% %, accounting for 1.66% of operating income.

Tianyu Digital stated that the development trend of the company's main business is improving, but the performance of some joint-stock companies has experienced large losses, which has a greater impact on the company's investment profits and losses recognized under the equity method accounting.

It is worth mentioning that because Xu Dewei, chairman and general manager of Tianyu Digits, is currently under investigation and implemented with a lien, he is unable to attend the board of directors and has not signed a written confirmation of the 2024 semi-annual report. According to Tianyu Digital’s disclosure on May 12, Xu Dewei was investigated and detained by the Ningxia Hui Autonomous Region Supervisory Committee for suspected violations of joint duties. The company stated that this investigation is a personal investigation of Mr. Xu Dewei and has nothing to do with the company and will not have a significant impact on the company's daily production and operations. The founder of

once photographed Buffett at lunch

The predecessor of Tianyu Digital was Tianshen Interactive‌. Tianshen Interactive was originally established in March 2010 and was renamed "Tianshen Entertainment" through a backdoor listing in 2014.

In 2015, the company’s founder Zhu Ye photographed Buffett’s lunch, and the company’s stock price reached a historical high. From 2015 to 2017, Tianshen Entertainment successively acquired Miaoquhengsheng, Leishang Technology, Fantasy Yuyou, Weiaipu, Chuju Technology, Herun Media, Yihua Technology, Jiaxing Lewan and other companies, and invested in WeChat through the merger and acquisition of fund . Film Age, Wuxi Xinyou, Pocket Technology, Kungfu Pictures and other projects. At the same time, the company's business involves film and television, games, application distribution, Internet advertising and other sectors.

Tianshen Entertainment’s high performance contains a high proportion of goodwill, which also creates hidden dangers of “explosion.” In 2018, Tianshen Entertainment suffered a huge loss of 7.151 billion yuan, of which goodwill impairment was 4.060 billion yuan. At that time, Tianshen Entertainment’s market value did not exceed 4 billion yuan. In 2019 and 2020, Tianshen Entertainment made goodwill impairment provisions of 283 million yuan and 1.244 billion yuan respectively.

In 2020, Tianshen Entertainment solved its debt problem through judicial reorganization. In 2021, the company canceled its delisting risk warning. In November of the same year, Tianshen Entertainment announced that the company name was changed from "Dalian Tianshen Entertainment Co., Ltd." to "Tianyu Digital Technology (Dalian) Group Co., Ltd."

In 2021, Tianyu Digital’s revenue was 1.764 billion yuan. Since then, its revenue has remained at around 1.7 billion for three consecutive years. However, starting from 2022, the company's net profit will turn from profit to loss, with a loss of 282 million yuan in 2022 and a full-year loss of 1.087 billion yuan in 2023.

Interview and writing: Nandu reporter Shi Li