High-priced Internet concept

This year, the Internet concept swept a-share, the internet involved, the sound of a piece. Behind the continuous rise, the Internet concept stocks are high valuations and uneven performance.

But listed companies are still crazy to invest in the Internet sector, such as the market for mobile gaming bullish, many listed companies have invested heavily in mobile games. 13 years ago, when global capital markets speculated on Internet concept stocks, the Shijian of the Internet were so much alike.

High Valuations

From the performance look, many companies have achieved substantial growth, such as the palm of the first half of this year to achieve net profit of 44.6782 million yuan ~5106.08 million yuan, growth 40%~60%; Rongzhifa is expected to achieve a net profit of 63.5243 million yuan in the first half of this year ~8084.92 million; growth 10%~40% China's media estimates that net profit of 113.3804 million yuan ~12147.90 million yuan in the first half, growth 40%~50%; Dr. Peng expects net profit to grow substantially in the first half of this year.

However, there are companies, although the stock price rise is huge, but the performance is in contrast with it, Shanghai Steel is expected in the first half of this year net profit of 9.0182 million yuan ~1262.55 million, down 30%~50%; Oriental wealth to achieve net profit in the first half of this year-17 million yuan (basic earnings per share-0.02) Fell 139.26% from a year earlier.

But in terms of valuations, the listed companies in the Internet sector are highly valued. The latest price-to-earnings ratio is 760 times times, mobile game plate three listed companies Palm technology, the Sino-Blue and northern latitude communication of the latest P/E ratio is 167 times times, 228 times times and 83 times times, respectively, music Vision Network, business treasure, the number of Chinese media and extension of information multiples of more than 100 times times. According to statistics, Shen Wan Secondary Industry network services 24 listed companies, 8 companies the latest P/E ratio of more than 100 times times, accounting for One-third.

Nevertheless, the agency is still optimistic about the performance growth trend of listed companies in the Internet sector. For example, as at August 5, a total of 12 organizations had forecast the 2013 annual performance of Palm technology, with an average forecast net profit of $168 million, with an average forecast of $0.4671 per share (up to 0.519 yuan and a minimum of 0.3772 yuan). According to this forecast, the company's 2013 net profit compared to the previous year will be a sharp increase of 104.36%.

As at July 27, a total of 10 organizations had forecast the 2013 annual results of Dr Peng, with an average forecast net profit of $482 million, with an average forecast of $0.3485 per share (up to 0.4341 yuan and a minimum of 0.3074 yuan). According to this forecast, Dr. Peng's 2013 net profit compared to the previous year will be a sharp increase of 133.26%.

In addition, the Internet technology, hundred-vision, Chinese media, video network and so are considered this year's performance growth of more than 50%.

Investment boom

This year, the market for mobile gaming bullish, many companies have dabbled in mobile games. This includes not only the main business to do mobile phone game companies to increase investment, but also includes the main business is far from the listed companies Cross-border entry.

According to wind information statistics, there are currently 29 games concept stocks.

But the "First financial daily" reporter further carding found that at least 11 of them only belong to the recent attacks in the game plate, or through other ways to speculate. such as the New Hai Yi (002089.SZ), the day sound Holding (000829.SZ) and so did not explicitly enter the hands of the industry, but was exposed to start large-scale recruitment tour developers.

In addition, there are also questioned as "pseudo hand Tour" concept of the joy of the shares (002348.SZ). But the company subsequently clarified that the company plans to set up a branch in Shenzhen to develop three new businesses, including hand-travel products. Company Hand Tour products business is not reported as the so-called "pseudo-hand tour concept."

June 27 this year, Datang Telecom announced the "issue of shares and pay cash to buy assets and raise supporting funds plan", to 1.699 billion yuan to buy Guangzhou to play Entertainment Network Technology Co., Ltd. 100% stake in the mobile gaming industry. July 24, Huayi Brothers announced that the company intends to Liu Changju, Mookie Creative, Tencent computer issue shares and pay cash to buy its holdings of Silverside Technology 50.88% stake, the transaction price of 672 million yuan.

As has been engaged in mobile phone game business north latitude communication is not to be outdone. July 9 This year, the company announced the Non-public offering scheme, the total amount of funds proposed to raise 500 million yuan, of which 221 million yuan for mobile phone games research and Development and operation of the project.

August 6, in addition to the main business of the real estate business Philip announced into the mobile phone game industry, the main business for models and electric toy car star model announced that the company to 18.36 million yuan to obtain the price of Shenzhen Cheong Entertainment World Technology Co., Ltd. 51% of the equity, enter the mobile gaming industry. On the same day, Everest information (300288.SZ) and Beijing Dream City Interactive Technology Co., Ltd. (hereinafter referred to as "Dream City Interactive") shareholder Lu Shifeng signed the "Equity transfer Agreement", the company's own capital of 3 million yuan to buy the Dream City Interactive 35% equity.

It is noteworthy that in the operating income, a number of listed companies to acquire the hand tour just started, accounting for the company's main income ratio is lower, the concept of meaning or greater than the substantive performance contribution. such as star-FAI car simulation acquisition of the world on July 9, 2012 before the registration of the establishment of the registered capital of only 500,000 yuan. Everest information to be acquired by the Dream City Interactive on May 22, 2013, a new establishment.

Not only that, there may be other reasons for listed companies to enter the hand tour. For example, some analysts believe that Philip's high-profile announcement to enter the mobile gaming business, perhaps with its large shareholders to reduce the company's shares.

Data show that Philip shares holding shareholder Philip Zho Ye March 26 through the Shenzhen bulk trading system Total selling 37.4 million shares of listed companies, a total of nearly 300 million yuan. On May 28, Philip Zho Ye sold a total of 50 million shares of its shares through the bulk trading system, which is now 400 million yuan. It still holds 50.883% of the company's shares after its reduction.

In addition, some industry analysts said, listed companies have been involved in mobile gaming business, but behind this lurking game business growth is not up to expectations, the risk of vicious competition. In late August, the vast majority of concept companies will focus on the disclosure of semi-annual reports, the hands of the actual situation or will see the clue. By then, the true and false hand tour concept shares will be seen.