Contemporary Oriental Valuation 1.1 billion acquisition alliance to build a full media platform

Contemporary Oriental (000673.SZ) to draw up the acquisition of Dongyang Alliance will be Granville film and Television Culture Co., Ltd. (hereinafter called "Union will Granville") news did not make its share price continued to be sought after by the market, only on April 16, the first day of the recovery trading, and then U-turn downward. Yesterday the modern East counter city Rose 4.33%, closed at 12.05 Yuan. This not only with other listed companies after the acquisition of cultural media companies in sharp contrast, or even less than last July, the contemporary Oriental wholly-owned subsidiary and Liaoning North Interactive Television Co., Ltd. signed a strategic cooperation agreement after the price increase. Last July 18, the contemporary Oriental announced its wholly-owned subsidiary of Beijing Contemporary Chunhui Cultural Communication Co., Ltd. (hereinafter called "Contemporary Chunhui") and Liaoning North Interactive Television Co., Ltd. (hereinafter referred to as "the North Interactive") signed the "Digital content services," the Strategic Cooperation Agreement, contemporary Oriental shares rose more than 40 in four trading days %。 Over the next two months, the share price has risen nearly 90%. And this contemporary oriental increase is to the whole media Culture Media platform transformation of the big moves. According to the modern Oriental set up the plan, plan to raise 2.5 billion yuan, of which 1.1 billion yuan to buy the union will Granville 100% of the equity, and the Union will Granville increase 500 million yuan to implement the supplementary film and television drama business operating capital projects, at the same time to 230 million yuan to increase the capital of the contemporary Chunhui and the implementation of investment in Liaoning Digital TV value-added business projects, For level two market performance, a senior executive of the contemporary Oriental major shareholder Xiamen Contemporary Investment Group Limited (hereinafter referred to as "the contemporary group") could not give an explanation, but he told the first financial daily that the contemporary Oriental acquisition of film and television companies is not to chase the market hot spots, but will completely transform the cultural media industry. In the original reorganization of Datong Cement, the contemporary group began to start from the original cement industry to the cultural industry transformation. Unlike many other listed companies that are simply acquiring cultural media companies as part of their business, contemporary orient will also inject capital into the proposed takeover, hoping to ensure that the company is able to operate at a higher starting point, the senior executive, who described a lack of copyright and funding issues, and the ongoing cooperation between the contemporary Chunhui and the North has been on the low line. , 2013 annual contribution to business income, income is not ideal. The acquisition of the alliance will be Granville, but also to a large extent to make up for the lack of copyright channels. At the same time, through the contemporary Chunhui to increase capital, on the one hand enrich the copyright resources, on the other hand, increased the construction of technology platform, the use of common technology, accelerate the replacement of set-top box, the early layout of internet TV, mobile TV and other new media, to achieve comprehensive digital media operations A brokerage strategy analyst believes that the cultural media sector after the general rise last year, has entered the stage of differentiation, in addition to good expectations, the market also needs the firm's performance to bring real support. From the perspective of the industry, Changjiang Securities in the previous study of the analysis, from the performance, the extension and table factors make the growth problem will not be immediately exposed in 2014, but from the market point of view, the relevant expectations have been reflected more fully, and longer-term views and logic may be in the adjustment of the heavyNew positioning.