ten year loss of over 900 million, executives get paid. Nearly 2 billion 400 million of the tickets bought heavily into the lottery industry, Ali faces many challenges.
value and financial | bread | original
Alibaba holding a joint venture with ant gold service will spend nearly HK $2 billion 400 million stake in a lottery company. But this year, the company continued to make huge losses in ten years, in addition to the Department of Ali brought a ticket to the lottery industry, but also with a number of risks and problems can not be ignored.
in March 6th this year, listed in Hongkong AGTech (8279.HK) announced that the Alibaba holding a gold suit and ant joint venture company will subscribe to HK $2 billion 388 million of the company shares and convertible bonds. The placing of new shares after the completion of the joint venture company AGTech will hold 50.7% of the shares, became the controlling shareholder.
AGTech is a main lottery related business of the company, completed a series of integration, will become the exclusive business platform of the Alibaba and the ant payment service lottery business "".
read the relevant announcement and bread financial AGTech over the financial statements that Ali with the huge amounts of money to obtain lottery business platform at the same time, also face the risk and to resolve the problem of three.
risks and problems one: more than and 10 years of sustained losses – less than 1 billion 300 million of total revenue, loss of over
AGTech listed in Hongkong gem in 2004, formerly known as the million lottery business into the good news, after 2007 to now; since the market continued losses, accumulated losses amounting to more than HK $900 million.
statistics on AGTech earnings data bread Finance: from 2004 to 2015 before the three quarter of more than and 10, the total revenue of less than $1 billion 300 million, the cumulative loss is up to approximately HK $913 million. There are four fiscal year loss of more than the current year’s operating income.
the first three quarters of 2015 AGTech operating income less than HK $178 million, a loss of more than HK $110 million, of which third quarter losses of approximately HK $53 million 800 thousand. The following is AGTech over the loss of the amount of change trend:
Ali has rich financial strength and business resources, after shares AGTech with its Taobao, Alipay and other force platform lottery business, in order to improve the performance of the company is not difficult.
but AGTech huge historical losses, is still the Alibaba and payment service has to face the problem of ants.
risk and problem two: the company’s huge losses, directors and executives enjoy high salaries
in AGTech huge losses at the same time, some directors and executives from the company still receive huge salaries, is another problem to concern.
2013 and 2014 AGTech company shareholders should be accounted for.