They estimated their total net profits ranged from between RMB 348.911 million to 498.444 million in 2017 when publishing its third-quarter financial reports on October 25th last year, had decreased by 30% to 0% when compared with the same period in the previous year. The company explained that the reason was an adjustment to the interactive entertainment industry, their expansion overseas and among others.
The net profits for the first three quarters were 315 million, a decrease of 27.96% when compared with the same period in the previous year.
However, the company amended the figure range today to RMB49.844 million~ 199.378 million for net profits last year, a reduction of 60%~90% on a year-on-year basis.
The company explained that its trendy toys business had not reached their expectations in the fourth quarter; contraction strategy carried out for their overseas films and television businesses, and the losses for the investments in the related businesses. Also, the unsatisfactory performance of their game businesses and the goodwill impairment of its associated subsidiaries, all contributed to the poor financial performance last year.
Alpha Group is one of the leading animation and entertainment culture industry groups in China and has devoted itself to national animation culture industry.
"Developing a national animation culture industry, making happiness and dreams everywhere," through three rounds of transformation and upgrading, it has successfully built a Fan-entertainment ( a cross-disciplinary entertainment) industry chain system with IP (Intellectual Property) as the core, including animation, toys, infantile, authorization, media, film and television, games, and among others.
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