Executive interview: Gem craze to inspire the network Dragon return a shares of passion

NET Dragon President Liu Luyuan: Gem upsurge to stimulate the return of a A-share passion with the gem gradually approaching, once obsessed with landing on the Nasdaq, and or return to the H-share market listing of the game companies have a new choice, China's gem launch will lead a large number of online gaming companies listed, and its P/E will be far higher than China's online game developers and operators of one of the leaders of the company, the end of 2007 to become the Hong Kong gem in the year the first IPO listed companies.　　March 2008, the network Dragon has submitted to the Hong Kong stock Exchange to the motherboard application and in June successfully landed on the motherboard listing. Now China's a-share gem upsurge again, whether it can stimulate the enthusiasm of the online game enterprises, driving the continued high growth of online games?　　Recently, the company's executive director and Chief Executive Officer Liu Luyuan received an interview with reporters. Gem timely launch to provide financing channels "securities daily": with the gem gradually approaching, some gem listed companies began to jump to the motherboard.　　Is the net Dragon also aimed at the domestic gem?　　Liu Luyuan: The purpose of the listing is mainly through financing channels to raise the next step of the development of enterprises need funds, the network Dragon in the fund is not a very large gap, the current company profitability is good, and the future plan is very clear, currently not so quick action. Securities Daily: September 21 China Gem's first batch of 10 companies to share the IPO, GEM opened the footsteps of the approaching. How can we make the gem successful?　　How do you see the launch of the mainland's gem?　　Liu Luyuan: This is a very good attempt, many small and medium-sized enterprises in the development of the most need is the support of funds, the introduction of mainland gem, regardless of the future of enterprises and economic development are very good channels.　　"Securities Daily": November 1999, the Hong Kong Gem was born, then the wave of technology network flourished, Hong Kong gem on the mainland what enlightenment? Liu Luyuan: Hong Kong Gem Since its inception in 1999, has been ten years of history, from the ten-year development process, the gem can really play a role: first trading volume needs to be more active, the funds can be more put; second, the regulatory mechanism must be improved precisely because of the characteristics of the gem itself, many enterprises are small,　　In the future profitability and direction of the need for market verification, for investors responsible for the consideration, the regulatory mechanism must be very perfect; third, the future of the Board and the development of enterprises more flexible channels.　　High barriers to financing "securities daily": Hong Kong Gem and the network dragon similar mainland enterprises, outstanding performance, but the follow-up financing is difficult, Hong Kong gem for listed companies refinancing has a higher threshold, whether there are obstacles to the financing needs of enterprises?　　Liu Luyuan: The current situation of Hong Kong's gem, there are indeed these problems, but for the network dragon, can be opened through multiple means of financing channels, there is no obvious funding gap. "Securities Daily": Enterprises to choose the gem listed in Hong Kong or the mainland gem listing, from the perspective of comparative opportunity costs, strengths, the mainland business boardListing and Hong Kong gem look at the difference in risk comparison?　　Liu Luyuan: As the mainland gem has just started, in terms of policies, regulations may not be very perfect, including the future of the market trend is not very clear, which we have from the Monday series of new policy launch can be seen.　　"Securities Daily": 2007 is the development of China's online game an important year, the network Dragon, long network and giants such as game technology companies are also giving up the Nasdaq return to the H-share market listing, now you feel that gem listing is a new opportunity?　　Liu Luyuan: Inland timely launch of the gem, a very good opportunity for SME financing development to provide a strong channel.　　Securities Daily: In the context of the increasing supervision and supervision level, the threshold will be less and less, the entire a-share market is expected to significantly exceed the value of the Hong Kong market, even more than the United States market? Liu Luyuan: From now on see a a-share market situation, it seems that China's a-share market activity has been in the faint constantly rising, the future of China's stock market is very beautiful.　　As China's online gaming market, the future is a very good opportunity.　　Securities Daily: What do you think of the competitiveness of the network dragon and the net swims enterprise, what can be learned from the peer enterprise? Liu Luyuan: The characteristics of the network Dragon is more prominent, with two characteristics, adhere to independent research and development as the core competitiveness, since 2001 set up a research and development team began, so far almost all products are completely independent property rights, but also the first domestic planning products to the international market, focus on product strategy optimization, 2003 began independent research and development products to the market, so far, the product in the country more than 180 countries sales performance, and now there are new expansion plans. For the industry enterprises, each company has its own distinctive characteristics and advantages, we actively learn from peers.