The Storm Group, which had been on hold for months due to significant challenges, has finally received a major boost. On the evening of December 7, Stormwind Group announced that its Storm TV division has entered into formal investment agreements with Dongshan Precision and Rudong Xinyu. Each company invested RMB 400 million in Storm TV, acquiring a 10.5263% stake in the company. In addition, Storm Group also revealed that Storm Mirror has signed a strategic cooperation agreement worth RMB 300 million with Guizhou Gui'an New Area. Storm Mirror plans to establish a VR manufacturing center, content center, and training center in Gui'an New District, aiming to drive breakthroughs in VR applications within the tourism sector.
Another positive development came when Stormwind Group announced a strategic partnership with Tianxiang. The two companies will collaborate on game operations, focusing on PC, mobile, TV, and VR platform games. They will also work together to build a game fund and explore top-tier IPs and studios.
With these positive developments, Stormwind Group resumed trading on December 8, marking the first day of its return after a long suspension.
Storm TV has now received strong support from key investors, positioning it as a serious contender in the smart TV market. While LeTV is gradually stepping back, Storm TV's recent funding round significantly increases its potential to challenge Xiaomi TV and become a leader in the internet TV space. According to Feng Xin, the introduction of Dongshan Precision brings more than just capital—it offers critical supply chain resources that are hard to find elsewhere in the industry.
Yuan Yongfeng, General Manager of Dongshan Precision Co., Ltd., shared his perspective: “Our collaboration with Storm TV began in 2015, and we've seen them grow from zero to over one million units. Many people ask why I chose to invest. First, the team at Storm TV is highly dedicated and focused on user experience. Second, the internet TV industry is still emerging with many opportunities. Third, during tough times, the team made rational decisions, and this investment was the most effective choice. Next year, everyone will see how well Storm TV performs. We will fully support their entire device ecosystem.â€
Interestingly, on the same day Storm Group's stock hit the daily limit, Dongshan Precision's shares rose by 4.16%.
Another key investor, Rudong Xinyu, is a government-led high-tech industrial guidance fund based in Nantong City, Jiangsu Province. As the headquarters and production base of Stormwind TV is located in Rudong County, the investment is expected to significantly boost the local economy and help transform the region’s industrial structure. Jianhua Lu, Secretary of the Party’s Working Committee of Rudong Development Zone, said: “We will make strategic investments in Storm TV and provide unwavering support. We will use Storm TV as a leader to build an AI TV industrial base in Rudong, driving the development of the entire AI television industry chain.â€
Feng Xin emphasized the importance of the RMB 800 million raised, stating that it is the largest financing in the company's history. “Over the past three years, the total value of all business modules, including internal financing, reached 8 billion. This round of financing is the sum of all previous fundraising efforts, and we succeeded in securing it despite the difficult environment,†he said.
While 800 million yuan may not seem like a huge amount in the tech industry, for Storm TV, it represents a much-needed lifeline. “With this funding, we can move forward aggressively,†Feng Xin said. Liu Yiping, CEO of Storm TV, added, “After this strategic financing, our development will enter a fast lane and reach a new turning point. Our goal for 2018 is to launch the first AI TV, achieve single-user profitability, and increase home projection share, laying a solid foundation for 2019 earnings.â€
Industry observers note that Feng Xin is taking a big risk by focusing heavily on the TV business, especially considering that Storm TV is much larger than Storm Mirror or Storm Video. However, Feng Xin remains confident, acknowledging the challenges but emphasizing the growth and maturity of the team. “Over the past 12 years, we’ve faced life-or-death challenges. But this period has been the longest and most comprehensive. We’ve gone through extensive scrutiny and doubt, but we’re stronger now.â€
Looking ahead, Feng Xin described the post-financing phase as a “reloading and returning†period. “Since 2015, the past three years have been a long journey. We’ve matured, and today’s Storm is much more capable than before. Our business is more diversified, our team is stronger, and we are far more experienced than we were three years ago.â€
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