On the other side of the new concept of speculation, while reducing the practice of hedging once the market has seen

With the concept of hand-swimming increasingly popular, related stocks soared, some of the original business of the listed companies have to "sharpen the head" squeeze into this area, a piece.

July 24 Noon and evening, the joy of the shares published two announcements, said the company intends to set up branch offices in Shenzhen, the main development of network sales, hand Tour products business, 3D printing personalized custom business.

July 24 Noon announcement, the joy of the opening of the shares 1 o'clock in the afternoon, closed at the limit of 7.74 yuan; July 25, the shares fell 1.55%, closing at 7.62 yuan.

Follow hot spots throw "concept"

The above announcement said, May 28, Shenzhen branch has completed the business registration, obtains the business license. Shenzhen branch, including hand-travel products business, and other new business is being carried out. The company's hand-travel products are currently in the research and development phase and are expected to be marketed to the market by the end of 2013 or early 2014, and will not be able to contribute to the company's profits in the short term, the bulletin said. If the product research and development success, will enrich and optimize the company's product structure, is expected to add new profit growth point for the company in the future.

It is understood that the establishment of the "Shenzhen branch" of the joy is not the first time is "take the matter". May 13, the joy of the shares had "set up Shenzhen branch" for the name of the announcement. Branch to develop three business, of which the second is to use the company in the toy research and development, design, manufacture and sales advantages, to find the right hand travel development company, to cooperate in the development of hand tour products.

But at that time, the concept of hand tour has not been so strongly sought after, and then the performance of the high-joy shares, even after the rise of 5th quickly fell back to about 7 yuan, one months in 6 yuan more wandering, July 23 began to two consecutive trading board to the current stock price.

For the company has thrown "3D printing", "Hand Tour" and other new concepts, CIC consultant Culture industry researcher Shen Zheyan, said in an interview with the Securities daily, high-joy shares follow hot speculation of the concept of a larger. Its establishment of the branch involved in 3D printing and hand travel, such as capital market hot business, but the compatibility of the two business is not strong, high joy in a short time to do the strong two business.

In addition, Shen Zheyan believes that the current mobile gaming industry has entered the Red Sea competition period, the high Joy shares did not operate hand tour experience, and 3D printing China has not achieved a major technological breakthrough, the company although the layout of the two business, but there is no competitive advantage to say.

Big shareholder quietly set up 237 million yuan

and constantly throw "3D printing", "Hand Tour" and other popular concepts at the same time, high-joy company shareholders are quietly reduce their own stocks, which inevitably makes investors heart doubts.

May 28, the joy of the shares announced that the holding shareholder Hong Kong Hing Cheong and shareholders of New South China Industrial enterprises because of their own development needs, Yang Guangcheng because of the demand for capital use, to reduce. June 5, Yang Guangcheng 7.02 yuan to reduce the average price of 10 million shares. July 4 and July 19, Hong Kong Hing Cheong and separately reduce the 13.68 million shares and 23.68 million shares, the cumulative set of 237 million yuan.

Public information shows that Hong Kong Hing-chang for the "Yang family" members of one of the enterprises, and the company's shareholders of the new Hong FAI Industrial, New South China Industrial, garden culture, Yang Guangcheng as a concerted action.

Some analysts said that while the new concept of follow the bandwagon, while reducing the practice will cause the market to the joy of the shares of doubt, thereby reducing investors confidence in their investment. In fact, the new business of the joy is difficult to obtain substantial development, the support of the stock price is weak. The happy shares such behavior once by the market to be seen is very easy to cause the stock market value greatly evaporate.

Moreover, Shen Zheyan said that from the Shenzhen branch of these new concepts to the product listing the shortest six months of cycle. In terms of a relatively small amount of input, hundreds of thousands of research and development costs can be generated, the return time required about 1 years, the company will have a period of running-in with the market. and 3D printing input is higher, China's 3D printing is still in the embryonic stage, the technology is not mature, the company needs to spend high cost in technology research and development.

For the development of hand products, the joy of the shares in the bulletin admits that there are many uncertainties, "hand-travel products can be successfully developed and marketing can be successfully carried out will be affected by a lot of uncertain factors." "Mainly includes, the game content development time will affect the launch time of the project, after the specific sale situation also needs to wait for the official market to be able to have the better performance appraisal; The loss of key post technicians will likely bring about the delay of project implementation and the risk of technology leak.

Three-year IPO progress less than 16%

It is also noteworthy that, although the high joy of the shares has been throwing a very attractive popular concept, but the company since the IPO in February 2010 three years, the commitment to the project has been very slow.

The 2012 annual report shows that the company's IPO funds amounted to 788 million yuan, the commitment to invest in projects including "electronic electric toys Production and construction project" and "new research and Development Center Project" Two, the commitment to invest in investment project total amount after the change of 466 million yuan, as of December 13, 2012, but only in " Electronic electric toys production and construction project "Total investment of 60.9977 million yuan, only accounted for the commitment to invest 406 million yuan 15.03%, and the commitment to invest 59.88 million yuan in the" New Research and Development Center project "has not been any input.

The company's quarterly results show that the construction of the project than the beginning of an increase of more than 12.3698 million yuan, the company explained mainly by the increase in investment funds. But even with this year's new investment in fundraising, the investment fund will still account for only 15.7% of the total promised investment by the end of the quarter.

In this respect, the joy of the shares explained that the IPO project implementation sites are changed from the site to Zeng City Pool Tail Street Tang Bian village plots. The company was bid by public bidding on December 30, 2010. As of December 31, 2011, the site of the land use certificate has not yet been completed, resulting in the project construction procedures have not been completed.

and Shen Zheyan that, the main reason for the slow progress of the high-joy project is that the investment project is not attractive, its project development prospects are confused, it is difficult to get investors trust.