Big play "mergers and acquisitions" capital game

Abstract: Internet users on the structure of the Friday, the first hand tour concept stock Information disclosure revealed that the first half of the business income of 23 million yuan, the year-on-year growth of more than 20 times times. However, the net profit of the first half was 18.8249 million yuan, down 19.04% from a year earlier. The network structure of Internet users with the concept of hand tour

In Friday, the first hand tour concept stock Information disclosure revealed that the first half of the business income of about 23 million yuan, the year-on-year growth of more than 20 times times. However, the net profit of the first half was 18.8249 million yuan, down 19.04% from a year earlier. Hand Tour concept of speculation has been described by some people as "huge bubble, streaking" and so on. Some popular stock price multiples are very high, 248 times times the green treasure, 119 times times the information, Latitude Communication 92 times times ... But the capital market is difficult to change the nature of anticipatory speculation, there is a bubble to rise space, it is important to focus on when the bubble burst. But that's hard to say.

"There's a bubble, there's room for rise."

Zhong Qing Bao, north latitude Communications, extension information, Zhejiang Newspaper media and the spread of Bo Rui, and so on by the concept of hand-swim and stir fry, in 2013 two, the Shanghai Composite Index fell more than 10%, the network game (including mobile gaming) plate upside down, the plate index rose more than 50%.

After the boom, the market is also more and more worried about the sound. Former IT boss Tang June recently published a public statement, "The concept of hand tour is not simply been hype, it is a huge bubble, but also wildly naked." ”

But it is clear that capital market people prefer this concept of anticipation. Cheng Yonghong, a private-equity insider, said in an interview with reporters in south Dublin that the concept of hand-swimming was enthusiastically sought after by the market, and the intrinsic reason was that the whole internet was undergoing a qualitative change: the Internet was moving from the PC to the mobile end. Games as a mature business model, more and more players are using smartphones to play games. With the continuous upgrade of smartphone function and technology, the mobile interconnection is bound to enter the long-term boom cycle, and the hand tour will benefit enormously. However, Cheng Yonghong also cautioned that the game industry is fiercely competitive, the foreign premium to the gaming industry is relatively low.

He Jinzi, a Sunshine private equity manager in Beijing, also saw the bubble in the concept of hand tour, but he remained optimistic. "Mobile game has its value unlimited properties, Game Stone Age II in May this year, June two months to achieve a single month more than tens of millions of dollars in income." Investors focus on how much value the concept has. ”

For bubbles, He Jinzi that stocks without bubbles in a-share market have no room to rise, meaning that investors should be concerned not with the bubble itself, but when the bubble burst.

Big play "mergers and acquisitions" capital game

In the hands of the market, the focus of attention, in addition to the feeling of the "bubble", is a vivid acquisition case. For example, Baidu bought the application release and the game platform 91 wireless by the 1.9 billion dollar sky-high price, the Huayi brothers sold two times held the Palm technology shares, covers 3 5.1 billion yuan, then 6 yuan buys silverside technology 700 million. 50 equity. July 3, the palm of the technology to 8 100 million yuan acquisition of the network pioneer access to the SFC's official reply. July 17 Morning Palm Fun Technology announced the company's shares due to a major asset restructuring suspension, followed by news that the suspension is due to the palm of the interest of nearly 2 billion yuan in the price of Acquisition hand Tour "Big masters" developers play crab technology.

He Jinzi said, the hand swims the stock circulation disk small, the concept is strong, in addition the fund gradually returns to the market, causes this kind of stock to have the bigger upward kinetic energy. Because the short-term mobile phone game cash absorption ability will maintain a strong posture, only this month, the palm of the technology to buy 2 billion yuan mobile phone game "big masters" developers play crab technology and other mergers and acquisitions events.

Such mergers and acquisitions are normal. Global Mobile Game Alliance Secretary General Song Wei has said that the current traditional funds and investment bank is aimed at hand-cake, the country's top 10 hand tour companies have been targeted.

Yi View analyst Shillon recently accepted the south all reporters said, for the listed companies, the acquisition of a game stocks on the whole valuation is good news. For gaming companies now want to market in the country has been very difficult, and the company only rely on a game operating risk is very large, this time must have funds to continue to invest in the opportunity to give it trial, otherwise it can only be the fittest.

And for the game companies want to be listed in the domestic difficulties, Jia Yue Tong Investment operations director Longshu added, to palm technology as an example, "the company at that time in the SFC audit is not the main game concept, but the concept of the SP through." The advantage is that China Mobile, such as state-owned enterprises to endorse the endorsement to do income recognition, and ultimately help the palm of the technology smooth listing. And most of the game concept of the company, the A-share waiting to be listed in the process have been the cold shoulder. ”

In the buying spree, it is worth paying attention to the rising price of acquisitions. Shillon thinks, "the enterprise spends the high price actually buys is the hand swims the profession the future and the hand swims the project research and development team." "But he also said," Today only about 20% of the hand tour companies can make money, more companies are in fact still in trial and error stage. ”

In this regard, the Dragon tree and also believe that the current hand tour does not have substantial "big income", more is "mergers and acquisitions trend." His view is that hand-swim into mergers and acquisitions of the capital game is more likely. In the industry, Mr. Ouyang, interviewed by reporters in south, said, "Hand tour, is still applauded the industry." Or the concept of real money-making enterprises are not many. But the money was very bad. He also thinks it is the best time to sell a hand-travel company.

However, Shillon judged that after the merger began, many companies would be washed away in the shuffle process. The first half of 2014 is expected to have a wave of consolidation period, the industry also fell into a relatively depressed state.

"Hand swim" hot dip on the rise

Although the previous surge in the concept of hand tour in recent years has been a relatively large callback, however, no matter how the concept of the hand tour of the profit plate to vomit, but still is the current capital market, one of the hottest concept. Recently some stocks have renewed the heat of the market,

By the turn of the hot money speculation, stock price is also a straight line, and have a continuous trading situation. For example, the recent hand tour concept of the nouveau riche shares, Hong Bo shares and Huayi Brothers.

Through the data of the funds, the recent hot money speculation in a row with the focus on the concept of high-joy of high-joy, three consecutive trading days by the hype, the inflow and outflow of funds are more than 200 million yuan, all sources of funds from the floating capital seats, and weeks up to 40% of the shares of Hong Bo, institutions and the capital of Together to help the stock straight up, the continuous emergence of 4 trading board; Huayi Brothers as a result of the acquisition of the news of a major positive, limited operating space, but still have 14.54 million yuan in the capital. As long as the "hand swim" word, regardless of the previous main business with the Internet, the game has no relationship, share prices are soaring.

In fact, in the above concept stocks, only the palm of the technology is the only pure hand tour listed companies. As of July 16 before the suspension of trading, palm-fun technology within six months rose more than 200%. Longxia and analysis that, hand Tour "Stone Age o L" success proved the palm of the fun technology team in the smart phone research and development of competitiveness, excluding the market on the palm of the technology in the functional machine research and development capabilities can not support its smartphone game research and Development market PK query. "Through the well-known end of the tour, the well-known film and television works adapted into the hand tour of the unique fan transformation effect, so that the company follow-up products are expected to achieve further success." At the same time, the company as the only pure hand tour listed companies, in the game distribution and operation, such as the advantages of resources, will help them to extend the life cycle of each game. ”

In response to its annual increase of more than 200%, P/E is also high, He Jinzi that the palm of the technology because of the concept of hand tour will bring the dividend, so that investors have better profitability of their expectations, the market will continue to follow. In this regard, Cheng Yonghong also believes that the future strength of the palm-fun technology is still worthy of long-term tracking.

In the hand tour concept stocks, Huayi Brothers now have "overwhelming" potential. Huayi Brothers 6.700 million yuan buys Silverside technology to enter the hand tour industry. News, the more than 40-day suspension of Huayi Brothers after the card trading. And on July 24, 2013, July 25, two consecutive trading days closing price deviation of the cumulative value of more than 20%. Cheng Yonghong analysis that the fundamentals of excellence, the company's film and television performance excellence. The company's strategic development direction is integrated entertainment, hand tour will become the most important. Companies to invest in the success of the technology, the return of super rich, floating surplus 1.4 billion, return 500%. This proves that the company founder's investment vision and accurate judgment, this success makes the decision of the company decision-makers, invest heavily to swim. "The acquisition of Silverside technology, the individual is very optimistic." Silverside technology in the gaming industry ranked third. Silverside technology overall valuation of 1.3 billion, safer. If the future Silverside technology listing, will inevitably bring a super return. ”

Reporter Guozhen