Guangdong Media even sealed 4 of the hot money has fled

August 19, 2010, Guangdong Media briefly after the suspension of the trading table again.　　This is its fourth consecutive trading day limit. "It's so tough, to my surprise," a private-equity person in Shenzhen, Mr. Shaw, faced with the continuous trading of Guangdong media a little regret, "the beginning of a friend advised me to buy some fun, but I always feel that the cultural industry will become the next high bubble industry, did not expect this stock so hot.　　"The performance of the Cantonese media is really" sudden ", this week, the market experienced a Monday rally, into the concussion of the city, ups and downs have been around 10 points, and in the market dilemma, Guangdong Media to 4 consecutive trading gallop market, how can not make everyone" onlookers "? Mr. Shaw's regrets still did not disperse, but he is rational, he said: "The scattered on the bar, I do not believe that this kind of hot money speculation-type limit can be maintained for how long, and already has a body in the shipment."　　"What is the continuous trading?"　　Although investors generally believe that the continuous rise of Cantonese media is exaggerated, but not inexplicable. Suspended for three months, Guangdong Media issued a notice on 16th, said the issue of not more than 450 million shares, offering a price of 11.24 yuan/shares, the acquisition of the actual control of Guangzhou daily, 4.2 billion yuan operating assets, to achieve the overall listing of Guangzhou daily business assets.　　After the overall listing, Guangzhou Daily held the stake will rise from 37.7% to 69.88%. This announcement, Guangdong Media will be sealed a word trading board. However, trading has just begun, after two trading days, have firmly stabilized the trading board. August 19, as a result of three consecutive trading days up to more than 20%, was ordered to suspend an hour.　　One hours of a break, and can not make the unit calm down, after the resumption of the card is still 9.97% of the rise in trading board. But is the appeal of this reorganization really so great? Guangdong Media, said in an interview with reporters, if it can really successfully complete the overall listing, of course, is a good thing, but also in line with the national media industry revitalization planning.　　But now the reorganization is still in operation and needs to be looked at while walking. All along, the company's large shareholder asset injection has been expected, the company is a typical "small companies large group" mode, after the completion of the transaction, the company's main structure will change.　　The main business will be increased advertising, newspaper issuance, new media operations and other businesses, and advertising business revenue ratio will exceed the printing business, become a major source of revenue for listed companies. However, for the acquisition of asset pricing level, national securities media industry researcher Chen Yumao that "not cheap." As he analyses, Guangdong Media acquisition of the target assets of 1.31 billion yuan in 2009, net profit of 250 million yuan, and the evaluation value of 4.18 billion yuan, the valuation of the equivalent of 2009 market net rate of 3.2 times times, the P/E ratio is 16.7 times times, far higher than the A-share flat-media acquisition price 1.2 times times the market and 7　　Multiples. Money has fled and money is already running. Reporters in Guangdong Media announced 19thThe data found that the first place in the sale of seats is an institutional seat, the net selling amount of 30.8781 million yuan. The reporter compared the company's 18th and 19th data, the company's 18th purchase of the top five seats are all sales department, and the 5 sales department, 4 of which appeared in the 19th of the sale of the top five seats, including the recent active Huatai Union securities Hangzhou QingChun Road Securities Business Department.　　And merchants Securities are two sales department qi, 18th Day, Beijing Jianguo Road Sales department sold 77.09 million Yuan, Jinan Quancheng Road Sales department sold 38.05 million yuan, people in the sale of one or two seats. "The hot money began to fast-forward fast out, the more empty two sides you sell me to buy, this is their style, is also this stock constantly pull up the important reason." However, the stock of short-term multiple-empty game pressure is very large, because a lot of money, including institutional funds, as early as the company before the suspension has entered, only the 4 days of the recovery of the profit on more than 33%, Profit end is their best choice.　　Zhangguojiang Securities analyst, said in an interview with reporters. As of August 19 closed, the Guangdong media stock price of 15.33 yuan, the additional price of 11.24 yuan, from the current share price has about 35% profit space.　　However, some people in the industry said that regardless of the overall listing, the shares of the reasonable price of only around 12 yuan, the current share price has fully reflected the restructuring expectations. Zhangguojiang advised investors, "there is no need to catch up, the current situation of the stock is the hot money playing heartbeat, institutions to find opportunities to profit, investors at this time can only be the fate of the quilt." Moreover, the current valuation level of the unit has been somewhat high. If the reorganization really works well, consider the stock price correction before you intervene. ”