Huayi Brothers Mergers and acquisitions silverside technology borrow game to build the four carriages

Huayi Brothers Media Co., Ltd. (300027), which was suspended for more than 40 days for major asset reorganization. Huayi Brothers ") is expected to resume the latest card. On the evening of July 20, chairman Zhongjun announced for the first time that Huayi Brothers will acquire Guangzhou Silverside Technology Co., Ltd. (hereinafter referred to as "Silverside technology"), so that Huayi Brothers in addition to film, television, artists and other three major content manufacturing, add game this "in the content manufacturing products and ports very important."

It is reported that the Huayi Brothers to buy 60% of the Silverside technology stake in the bid between 1 billion-1.2 billion yuan, the acquisition of about 10 times times earnings, another argument is that the acquisition price of up to 2 billion yuan. However, Zhongjun did not confirm this, only that the "volume is not small."

20th, the announcement showed that Huayi Brothers intends to issue shares and pay cash in the way to buy Silverside technology part of the stake, while issuing shares to raise supporting funds, raise the total amount of supporting funds does not exceed the total amount of transactions (transaction prices + supporting intensive funds) of 25%. At present, the company is actively promoting the work, with the relevant intermediary agencies on the reorganization of the related assets of the investigation, audit and evaluation is still in progress.

"If Huayi Brothers and Silverside technology reorganization succeeds, to Huayi Brothers ' brand value and capital ability, will help this team to become a A shares the strongest Internet game team." Zhongjun to this newspaper reporter said.

The 2013.5 annual results of Huayi Brothers show that net profit is up 270% to 300% from a year earlier and is expected to achieve a profit of 390 million to 420 million yuan.

Huayi "Playing games": from Palm to Silverside

"Three years ago, the Internet game monthly income over millions of of the rare, silverside technology this year's new research and development of products monthly income expected to reach 50 million yuan, three years ago, the opportunity to make this money does not exist in the industry, Huayi Brothers (mergers and acquisitions) This time point grasp very well." "Zhongjun said.

Huayi Brothers since 2010 began to pay attention to the game plate, and Shi Yuzhu's giant network cooperation online games, but failed. and the participation of the interest of technology, so that its experience and gain a double harvest. Mention of the market to Huayi Brothers to reduce the palm of the technology questioned, Zhongjun said, "Reduction is very normal, we are the second largest shareholder of technology, it is not a holding company."

"We do not have the opportunity to control the technology, what is the price for a company with a market value of $15 billion? Is the investor willing? So for the same level of company, Huayi Brothers is willing to nurture it into a new big company at a low cost. "Zhongjun said," Silverside technology and the palm of the fun technology is not the same, the palm of the interest we are equity participation, this time strictly speaking, ' marry Silverside into the family. ' ”

With the Silverside technology reorganization, Huayi, in addition to the original film, television, artists and other three parts of the production plate, will add a content of the "four carriage"-the game.

Data show that in the three quarter of 2012, China's mobile phone game market size reached 1.69 billion yuan, the chain Rose 38.5%, up 103.6% year-on-year. At the same time, China's mobile phone game users reached 257 million households, the chain growth of 20.7%, an increase of 57.7%. By 2015, China's smartphone gaming market will grow from 1.25 billion yuan a year to 8.6 billion yuan.

The huge market size of mobile games is the main driving force for Huayi Brothers to enter the field. Huayi Brothers said that with the completion of the restructuring of silverside technology, the core assets of its entrepreneurial team will remain, and will not interfere with the "details of operations", Huayi Brothers in the future mainly in the promotion of brand and capital capacity of the Silverside technology.

According to Silverside Technology Chairman Liu Yan introduced, for Silverside science and Technology, Baidu, 360 and so on its marketing "help very much", but given the future competition market, Huayi Brothers in film and television entertainment and other aspects of the silverside positive more, can help to create a comprehensive influence.

"Silverside technology can use Huayi rich film and television resources to find creative points, to create a new game, for example, this year to get 1.245 billion yuan high box office of the" West Swim down the devil. " "Liu Yan said," This year, "Time Hunter" monthly income of more than 40 million yuan, the new game "magic" expected monthly income of 50 million yuan. ”

Huayi Brothers Mergers and acquisitions puzzle

"By film for the brand to pull the whole industry chain, Huayi Brothers is the richest and most complete media group layout." Zhongjun to this newspaper reporter said.

Reduce the palm of the fun technology sets are rich profits, together with the Pearl River Investment, such as 13 billion yuan Shenzhen construction "Huayi Brothers Cultural City", to 20.916 million U.S. dollars transfer to buy GDC technology company 23.2529 million common stock, until this year, mergers and acquisitions in the hand tour market share of 5.9% of Silverside technology, Huayi Brothers continued to exert capital operation. Huayi believes that this is "a good time for mergers and acquisitions."

Zhongjun to this reporter said, to tourism real estate For example, Huayi mode of stability, the risk of nearly zero. Huayi three years ago into the cultural tourism plate, the construction of Huayi Brothers Cultural City, Huayi Brothers Tourism town, Huayi Brothers film theme park, etc., "reproduction ability is not easy to be infringed." Second, Huayi Brothers to light assets mainly to brand licensing and knowledge licensing mode, such as according to Feng Xiaogang's film "1942" to Build "1942 Republic Street" And so on, are mainly intellectual property rather than heavy assets.

"The two-year merger went relatively smoothly. Like Huayi Brothers of the TV series, almost by a merger composed of a plate, music, brokerage companies are also acquired, Huayi can combine them, show that Huayi has a strong digestive capacity. "Zhongjun to this reporter said," Huayi is certainly not a purely financial investor, I myself outside to do a fund, to do a PE can also, but listed companies (can not). ”

In response to recent scholars say that China "already exists in fact the phenomenon of financial crisis", Zhongjun does not care, "strictly speaking, the financial crisis on the light asset creative industry is not bad news." "Huayi has no huge reliance on credit, and we are a light asset company," he told our correspondent. In the event of a financial crisis, it is a very difficult period for a company that relies heavily on credit. ”