Hand tour venture into the current peak but the pressure on gambling

Original title: China Green Treasure acquisition of two games company hand in the current peak August 14, a A-share network game company in Green Treasure (300052) issued a notice, will be spent 440 million yuan to acquire Shanghai Mei Feng and Shenzhen soma two game companies each 51% of the shares, The purchase price is 357 million yuan and 87.465 million yuan respectively. Earlier, the Chinese green treasure has been suspended for several days. Stimulated by this news, China Green Treasure Stock 14th trading, the stock price of 45.64 yuan. In terms of valuations, these two mergers are priced relatively high, which continues to have a strong impact in the gaming circle and could spark a new wave of mobile gaming. The pressure on the performance of the bet Shanghai Peak by the dexin, Guo Yu, Jongsong three shareholders holding 100%, currently has 150 people's research and development team. Mei Feng is a set up in 2004, the old mobile gaming company, the era of smartphone games has not been up, the United States peak by K-java function mobile phone game started. A former study of the U.S. peak VC investors said that the company has a relatively rich experience in mobile game development to be good at the development of MMORPG class mobile phone games in the industry has some fame. The 357 million acquisition of the U.S. peak of 51% of the shares, also means that the U.S. peak market valuation of nearly 700 million yuan. The announcement shows that Shanghai Mei Feng 2012 annual revenue of 19.87 million yuan, loss of 9.87 million yuan, the first half of 2013 revenue reached 40.32 million yuan, the profit reached 9.5 million yuan. According to the China Green Treasure Amire signed the performance of the betting, the U.S. peak 2013-year profit is expected to reach 45 million yuan-to calculate the acquisition of the corresponding P/E ratio at least 15 times times. The acquisition, the Green treasure and the United States Peak signed a higher performance requirements of the gambling agreement. In the Qing bao buy Shanghai Mei Feng notice inside can see, the United States peak to bear the performance requirements of the gambling is very high, the green treasure in 2013, 2014, 2015 net profit of 45 million yuan, 80 million yuan, 110 million yuan. A lot of people who are familiar with the beauty of the game have a straight sigh, "this performance requirement is too high", because the U.S. peak in the first half of 2013 net profit is only about 10 million yuan, Shanghai Mei Feng has 60% of the revenue from the "King 2" this game, the game is on sale for several months, on the "King 2" Whether it is possible to sustain a high level of income and the decline of the old game is a concern of the industry. The agreement also stipulates that if the 2013 annual peak of the net profit of 45 million yuan, the company should buy the U.S. peak remaining 49% of the shares. For the Sino-Green treasure, buy us peak can quickly put the performance of the Green Po high--in the six months report, the company 2013 first half of the net profit of 17.5 million yuan. The 2013 annual peak of the net profit is expected to be 45 million yuan. Mei Feng's "Monarch 2" makes up for the lack of a masterpiece in the mobile gaming market now. At the same time, Green Bao hope that in the past in the online games market accumulation of operations, publicity resources can make Shanghai Mei Feng's game has a betterPerformance。 Another was bought by the company Soma Technology and Tencent has a deeper relationship, Tencent owns 13.5% of the company's shares, and the company and Tencent have a deeper cooperation, the company's most revenue from the Tencent platform. But the company's results show that Soma Technology's performance in the first half of 2013 showed a significant decline. The company's annual net profit for 2012 was 43.19 million, while net profit in the first half of 2013 was only 14.77 million. Soma technology also and in green Bao signed the agreement, corresponding 2013, 2014, 2015 net profit of 24.5 million yuan, 40 million yuan and 52 million yuan, four times to pay the acquisition funds. Why is China Green PO to buy a company that has seen a decline in performance? Market opinions, some analysts pointed out that the green Po is likely to be a fancy soma technology and Tencent's cooperative relationship. A-Share hand-tour bubble peak, Soma to high prices to sell a-share listed companies, but also many in the mobile gaming entrepreneurial enterprise heart itch intolerable. "Recently, the price of the hands of the circle suddenly by those listed companies to lift very high, so that our company a few boss also a bit not calm." "said a senior executive at a mobile gaming company. The company is currently negotiating a sale with several listed companies. There has been a heated debate inside the company over whether to sell the company. At the beginning of this year, the price of the acquirer is still low, but the recent period of a share of the bubble in the Hand tour company's valuation soared, many shareholders have the idea of selling. For the owner of the company holding the shares, the current a-share listed companies to offer a bid is often they can not refuse. Because the performance volatility of game companies is often very high, whether to maintain a high-speed growth in the next few years, who is not sure, can be sold at a good point of the present, is a lot of people are willing to, even if the failure of gambling, the need for the listed companies to compensate for the takeover, the comprehensive calculation is often cost-effective. The executive said the sale of the company was not necessarily a good thing for the majority of employees who did not have a stake in the company, because the company had to sign a performance-betting agreement when it was sold, and employees would be under greater pressure. In general, game companies sell shares to managers at the middle level to motivate them to perform better. The most difficult thing about acquiring gaming companies is management consolidation. The game as a special attribute of a creative industry determines the management of many game companies is very confusing. Many games industry staff overall quality is not high, and the staff mobility is very big, inside often faction is lined up. The company executives pulled a group of core teams out to set up another hill to start a new gaming company.