First video Hand tour prospects worry: A quarter of revenue hit nearly a year low

Sina Science and technology news September 4 morning, the first video of its mobile gaming subsidiaries in Champion Entertainment Group, plans this month in the United States Nasdaq (Weibo) listing. But the company's IPO outlook is troubling: China's hand-travel Entertainment Group's revenue in the first quarter of this year hit its lowest in nearly a year, according to reported earnings. First video hand tour nearly one year of revenue and net profit the prospectus shows that China's hand tour entertainment Group net revenue of 54.33 million yuan in the first quarter of this year, net profit is 18.82 million yuan. In stark contrast, in the fourth quarter of last year, the company's net revenue reached 59.97 million yuan, while net profit reached 108 million yuan.　　This means that revenues are down 9.4%, and net profit is down 82.6%.　　For the first quarter of the net profit decline, the prospectus explains two points: 1. RMB 2.1 million yuan income tax was incurred in the current quarter, while the fourth quarter of 2011 had an income tax income of 61.3 million yuan; 2. Compared with the quarter of the fiscal year 2011, the fair value of assets with occasional reimbursable costs increased. But the decline in revenue has not been mentioned in detail. The first video hand tour revenue constitutes the data disclosed under the prospectus, China Hand Tour Entertainment Group in the first quarter of this year, the three major sources of revenue, has been showing a decline in the decline in the function of mobile phone game revenue, began to appear on the chain growth;　　, and mobile design revenue is the biggest drop. While the first quarter is usually a low ebb for gaming companies, it has been the second consecutive quarterly decline for China's Travel Entertainment group. In addition, this performance still has a negative growth of 5.8% compared with the first quarter of last year.　　This is not common for a company that is in a fast-growing industry, claiming to occupy the top spot in the market. A securities industry analyst who declined to be named said: "In 2011, more than 200 million of the revenue, just equivalent to a medium-scale end-tour manufacturers a quarterly income, in the U.S. market is not attractive, the listing is not optimistic, the reason for the listing may be VC and founder need to cash out."　　In addition, the analyst said, because the research and development technology does not exist too high threshold, the company will face the future of the new entry of the company's increasingly competitive pressure.　　China Hand Tour Entertainment Group has not responded to the topic of listing. Chinese Hand Travel Entertainment Group in the prospectus, claiming to occupy the domestic mobile game development market the largest share.　　According to its reference to the Analysys International (Micro-blog) data show that 2011 revenue market share of 18.6% domestic mobile game developers first, compared to the market share ranked 第2-6 five competitors combined is higher. The listing of Chinese Hand Tour Entertainment Group has also raised different views. The CEO of a well-known hand tour company said the listing could have a negative impact on the industry as a whole. and touch-control technology general manager Chenhao in micro-blog, directly questioned the listed enterprises of the product Operation qualification. (Ho Tung Shu Shi)