Palm Fun technology hu: Game Field Angel Investment active future amount will be bigger and larger

Investment sector News &http://www.aliyun.com/zixun/aggregation/37954.html ">nbsp;9 month 11th, sponsored by the Qing Branch group," the fourth session of China Mobile Internet Investment Conference held in Beijing. Hu, CEO of the technology joint venture, points out that not only are mergers and acquisitions particularly active, but angel investment is also very active. "The game is not like the mobile Internet, or the Internet company two or three rounds of investment, the vast majority of successful game companies, is often angel investment, some may take a round of VC, game company three years of breath, three years can't get through basically." "Hu said.

The following is a live transcript:

I just saw a lot of friends, this time last year was also a partner of Qiming venture, see Qing Branch meeting feel very kind, I have a lot of friends in the game circle, but also nearly a year very hot a topic, I would like to say a simple palm fun, palm fun is a A-share gem of the listed companies, the Qing branch of the conference more and more attention to the gem, Palm fun is basically to do the game, and the more famous thing is to invest in mergers and acquisitions, from the year before the first deal to wholly-owned mergers and acquisitions of dynamic technology, to last the big masters, etc., should be said in the hands of the circle inside, leading the whole big mergers and acquisitions wave.

Hand tour belongs to the mobile Internet running in the front, the fastest way, this is no doubt, and has been in a very short period of time to achieve a large amount of capital exit. I read a news today, should be in the first half of this year and hand tour related to the whole amount of the acquisition, claiming that there are 24 billion, if a rough estimate, the whole year about nearly 50 billion such size, may also be larger, or perhaps not so much. The majority of the buyers are so-called a-share tyrants company, basically 15 times times pe a little more, 34 on the way of gambling. If you calculate the profit on the bet by about 3.5 times times 4 years, I calculate, probably promised in the next three or four years about 15 billion yuan net profit, here is related to a profit margin problem, if we according to 30% net interest rate is normal, not too high nor too low, probably means 50 billion of the water. This year the hand swims the whole plate is 25 billion, last year is 12 billion, if there will be a particularly large growth in the next two or three years, the 50 billion in this area will probably account for about one-fifth, or the next two years to grow rapidly, may occupy One-third, or One-fourth, this number is a little warning, in fact, the merger has been quite a lot, Basically a lot of water in the market should be and go in, also means that there are some risks behind.

And from an investor's point of view, and mergers are particularly active, there are particularly active is the angel investment, the game is not like the mobile Internet, or the vast majority of the two or three-round, the majority of the successful game of the company, is often an angel investment, some may take a round of VC, game company three years, three years without a pass basically. I predicted at the beginning of this year that there are some small hand-travel companies that are living very hard, may be postponed about half a year, very important reason is the birth of a number of small companies, DotA Game 2 million, produced a big story, inspired the mainstream VC people out to start, but also inspired Tencent, And bat, these big companies with highly paid people who play games, run out to start a business, they found that can use such a small price to bet on such a big return, this year's Angel fund a bit of endless emerging, about 50 million to 100 million, and eventually will also be a large pile of land continued to come out, which is one of the risks.

Look at what we can see in the next year or years, is from the game aspect, from the investment aspect, may have some changes, one is said that from the simple investment CP, may go to some new platform's appearance, we actually already saw many wireless Internet app, already started through the game better to realize, In the last few months in particular, like some of the video app, like PPIs, and Youku has a large number of users, as well as occupy the user time is very long, with the hand tour began to become present, for investment is a very good thing, because the advertisement at present although also grow very little, after all, efficiency no game so fast. CP may start at the end of this year, will continue to encounter some trouble, because CP a bit too much, in fact, successful hand tour can not be endless.

Third trend, there may be a process out of internationalization, these a-share companies, including the palm, in addition to the acquisition of some CP, we feel that the matter has become increasingly lack of technical content, including in the next few years may encounter a bet on the bottleneck can be completed, the stock price rise, The next step overseas is a very important direction. The palm is also in front of the face, made a very good try.

The fourth trend, which we consider to be an investment in a large cultural concept across borders, film and television, animation, including literature, as well as the game of investment is put together, although this hand swim in theory called Mobile Internet category, not to consider film, animation and literature, theoretically separate, is the broad sense of TMT, but in fact, in terms of content, There is a large number of hand travel to the IP dependence, is beyond the previous end of the tour and page tour many times, so began to intervene from the app source.

In the early days of investment, I personally think that single pen has become bigger and more competitive, programmers from more than 10,000 wages, now thirty thousand or forty thousand, maybe hot money in more. Twice times the salary to dig people, because of the hot money, the whole society will rise up, there is a small inflation in this industry, the future 2 million has not been able to do a product, coupled with the technology of the iteration, so the amount of money may be a single investment, I think it may increase, and will increase a lot. But the overall number of investment pens may fall, because from the past six months to see the extensive type of angel investment a little too much, I guess there's a lot of angel investment it's not funny, it's going to get worse from the end of the year, but the industry as a whole continues to grow very fast, from 12 billion last year, To this year 25 billion, next year conservative estimate has 35 billion, overall the general trend will be more and more good, the concentration degree will be more and more high, I will share so much, thanks!