Cloud computing large data continues to heat up PE large-scale entry or merger tide

Last week's China Cloud Computing Conference was held in Beijing, and cloud computing is becoming real from the past. Along with the industrial path gradually clear, each road capital also set up cloud computing industry fund to plunge into cloud computing tide.

Industry-leading units

Joint PE Capital

The Chinese Society for Cloud Computing, hosted by the China Electronics Association, is the sixth session of the year. As China's cloud computing conference progresses over the years, they find that there has been a short board in the real push for industry.

Renhua, Deputy Secretary-General of China Electronic Society, told reporters that the China Electronic Society has done a lot of work in promoting the development of cloud computing in China. But after doing a lot of work, a lot of things still stay in the discussion, exchange this level. "There are experts, there are ideas, there are directions, there are strategies, but in the practical application level, has been short board." "This short board is how to use the power of capital to pragmatically promote the cloud computing industry innovation projects and enterprise development."

China Electronic Society is the Ministry of Industry and Information system directly under the public institutions, cast, as the National electronic information field, the largest national corporate associations. Now has more than 100,000 individual members, group members more than 600, professional branch 43, working Committee 8 and a hundred people's offices.

At the same time, the Chinese Electronic Society established the first "cloud computing expert Committee" in 2008, established the first "China cloud computing Technology and Industry Alliance" in 2010, and founded the "China Cloud Computing Conference". China Electronic Society "cloud computing experts Committee" and "China large data expert committee" covers the domestic cloud computing, large data in the field of hundreds of the most influential academicians, experts, well-known entrepreneurs, in the international and domestic cloud computing, large data industry has a very wide range of influence.

Aware of the absence of capital power, the Chinese electronic society is trying to find capital for fellow travellers.

January 18, 2014, China Electronic Society and Beijing Goat Capital Investment Co., Ltd. (referred to as Goat Capital) formally signed the Cooperation Agreement, co-sponsored the establishment of "China cloud computing, large Data Industry development fund", the fund a period of 200 million yuan, the main investment in domestic cloud computing, Large data and other industrial areas of the growth of outstanding enterprises.

"Capital promotion is clearly not the specialty of the Chinese electronics Society, so we want to find a capital in Beijing that understands cloud computing and is willing to join us in the development of the cloud computing industry." We found Goat capital. The Electronic society authorizes Goat Capital to be the management of the Fund, which also means that goat capital is the only channel of capital cooperation between the Chinese electronic society in cloud computing and large data. Renhua told reporters.

Relying on the resources of China Electronic Society

Fellows can provide counseling for the development of the enterprises being invested

In an interview with the Chinese Electronic Society, Goat Capital partner Hong Lei said that now there is a large number of investment funds in the entire IT field, either to invest in TMT or to invest in mobile internet, but the two emerging industries, which are really focused on cloud computing and big data, are not.

And by the Chinese Electronic society, such as the industry-leading units to launch the establishment of the Fund is another highlight. This makes the Fund's project source and quality the most secure.

"China Electronic Society has 100,000 members nationwide, and nearly thousands of outstanding electronic information enterprises and the Association has a close membership." These projects are the quality Project Library of our fund in the future. Hong Lei said confidently.

Another big reason for Hong Lei's confidence is the expert resources of the Chinese Institute of Electronics. "China's cloud computing experts committee and the China large Data Committee of experts and some of the academicians and experts are our fund advisers." In addition, we have formed a ' luxury lineup ' investment decision-making committee composed of academicians, famous entrepreneurs and investment experts. ”

And these experts hired by the Fund and the Chinese Electronic Society of these fellows, will become a number of investment enterprises of senior advisers, for the development of enterprises to provide a high level of guidance, consultants.

"Because these fellows in this industry has a very good network, technology accumulation, industrial chain integration resources." For a small and medium-sized enterprises, if the fortunate to have the support of a fellow, I believe that the company's help will be very large. Hong Lei thinks so.

There are many listed companies in LP

Mergers or acquisitions or major exit channels

For the LP of the Fund, the exit mode of the project is always very concerned. Hong Lei says it will of course focus on outstanding projects to exit the IPO, but given the current IPO, the fund will not take the IPO as the main exit route for the project.

He told reporters that the fund was very explicit about mergers and acquisitions as the main exit route for the project. "In our resources, many listed companies are members of the Cloud Computing Experts Committee and the large data experts committee, and they have very strong demand for mergers and acquisitions and market capitalisation," he said. They hope that through our fund, to explore a large number of outstanding growth projects. ”

According to reporters, "China's cloud computing, large Data Industry Development Fund" LP, there are many listed companies figure.

According to Hong Lei, the Fund's LP is selective. "We are not looking for some pure financial investors, or purely individual investor, we are looking for the LP is in the industrial field of listed companies, or the actual control of listed companies, or some of the natural person in the industry." This ensures that the LP has a very high degree of recognition of the industry, and can provide a large number of industrial resources, in the future for the Fund's investment enterprise Services. ”

In the view of Renhua Secretary-General, now many people in the application of cloud computing, cloud computing services, cloud computing has shifted from government-led to market demand-driven, investment in the best time to come. (Securities daily)

Wanda Information (300168): Start to continue high growth, acquisition into hot areas

At present, Safe city and intelligent transportation are the most important subdivision areas in the intelligent city construction, the company has successfully cut through the acquisition. On the one hand, the formation of customer resources complement each other: hot communications in Sichuan region has a strong customer resources, in the calendar year, "Skynet" construction has won the bid. On the other hand, the formation of technical complementarity: Wanda in the platform and software advantages significant, hot communications in the monitoring and integration has advantages, and is located in Sichuan artificially cheap. Hot Communications 2013 January-March in hand orders about 110 million, the expected 2013-2017 annual business income and net profit average annual growth rate is not less than 35%. The acquisition of PE about 14X, despite the high price, but for hot communications follow-up business development confidence.

Gross profit margin increased significantly, the cost rate slightly increased

In 2012, the company's actual gross profit margin (reduced battalion) reached 34.8%, up 4.3% from the same period last year. Through the business of the national implementation of the scale effect, the future gross margin will continue to be in the rising channel. The management fee rate was 13.3%, up 1.8% from a year earlier, and the sales cost rate was 4.2%. Minsheng Securities

3. Industry continued to good, the company's leading position significantly.

This year, the media has repeatedly reported the government and enterprise network information security incidents, China has introduced a number of information security-related policies, to some extent, increased the industry's concern. And from the important areas and departments of localization process, because information security belongs to the secret domain, belong to the most sensitive and the first beneficiary field. According to the latest bulletin of the Central government Procurement network, we have learned that in the procurement of genuine software, a total of 227 products belonging to the "Information security products" category are accounted for 34.1%. and the network management, network monitoring, web site supervision, public opinion monitoring, public opinion analysis, remote access and control and public opinion response and other areas of the bidding products, "big information security" area of the bidding products have a total of 302, accounting for up to 68.8%. It can be seen from the government level, the importance of information security more and more high, because the government ministries procurement accounted for the overall information security market, to a certain extent, accelerated the growth of the industry. The company in the round of central government procurement a total of 32 products shortlisted, accounted for more than 10% of them, in security management software, security audit, data encryption and terminal management projects to become the biggest winners, security management software finalists 8 products (total 21), Safety audit shortlisted 5 (total 18), Data encryption shortlisted 4 ( A total of 14, terminal Management Finalists 4 (total 23), laid the company's Network management control field of the king status.

4. Information security-related new products such as virtualization, large data and baselines are worth looking forward to.

In this round of the central government Procurement, the company shortlisted 32 of the products are part of the recent successful development of new products, such as virtualization-related virtual security management platform software (price of about 160,000) and virtual Terminal Management System (basic version, price 940 Yuan), and large data-related network situation monitoring and analysis management platform software ( Price 285,000 yuan) and network violation information analysis and monitoring system (price about 122,000 yuan), as well as the system baseline management platform software (price is 340 yuan), virtualization, large data, security baselines category, etc. belong to the direction of information development, the company's new products have been recognized by the market, and the price is far higher than the traditional products, We are optimistic about the company based on technology research and market-oriented innovation advantages, the future in improving product ARPU value, but also further broaden the market space.

5. Investment logic: High growth is expected to continue over the next few years:

The company's growth logic lies in the horizontal headquarters enclosure and longitudinal branches of multiple marketing. With the gradual improvement of the penetration rate at the headquarters level of government agencies, the company's future years focus on the development of key customers in the industry, we believe that in the short term the company's high growth logic lies in the level of security protection has been covered by the higher levels of government, finance, Energy branch of the marketing and industry new customer headquarters marketing Revenue ( Policy and market demand orientation), and the long-term high growth logic lies in the branch of the industry's customers multiple marketing (demand-oriented), the branch of multiple marketing revenue is far higher than the first sales headquarters, that is, the company's future performance of the real outbreak is to increase sales force to strengthen the branch of the marketing stage. And with the continuous progress of the horizontal enclosure, multiple marketing target customer terminal base is increasing, so the company can achieve sustained high growth.

6. Maintain profitability forecasts and buy ratings.

The company's 2013-2015 EPS is estimated to be 0.65 yuan, 0.90 yuan and 1.20 yuan respectively, corresponding to the current estimated PE is 37.7 times times, 27.1 times times and 20.3 times times. In view of the company's information security industry is expected to accelerate the growth of the internal control area and software products in the entire information security industry is expected to gradually increase the proportion, we maintain the buy rating.