Shenzhen "non-named criticism": Hand-Tour merger frenzy or cooling

The dance of the hands of the stock of the sudden cooling of the regulatory layer.

November 9, the Shenzhen stock news release, said that in the future will strengthen supervision in three areas, the information disclosure rules on hand-travel acquisitions impressively in the column: "For the market hot hand travel assets, the requirements of the disclosure of ARPU value (per user average income), player structure distribution, recharge channels and amount of key business information, and request financial advisor , accountants to verify the authenticity of the performance. ”

In addition, the exchange of information in the media on the same day, the unnamed criticism of the Golden Feida (002239.SZ) and 35 interconnection (300051.SZ).

On the afternoon of November 11, all two companies said to our correspondent that they have not received Shenzhen's letter at the moment.

Hand travel industry researchers told reporters that the Shenzhen stock's proposal to strengthen supervision, increase the information disclosure of hand-travel assets is to protect the interests of investors, this regulation or can affect part of the ongoing or will be carried out by hand-travel asset acquisition.

be approved by the company

Shenzhen related official said, this year Shen listed companies have been active mergers and acquisitions. Most of these mergers and acquisitions are mainly industrial integration, but there are a few listed companies chasing market hotspots and concepts, allegedly through the non-substantive cross-border investment, business transformation and other ways to cater to market speculation; some companies release good news at the same time, large shareholders reduce stocks.

One of the cases listed in the Shenzhen Stock Exchange shows that a company's main business is clothing export, since May 2008, 3 times in the past 5 years, the Cross-border investment hot industry, respectively, related to wind power generation, mining and hand tour concepts. The information disclosure of each hot investment event has caused the stock price to rise sharply, but the investment has not achieved the expected benefit.

Another example is that a company launched a restructuring in May this year, the October disclosure of the restructuring plan terminated, during which the share price rose 184%, and the company controlling shareholders through its control of the company to reduce the cumulative reduction of 6 million shares, involving the amount of 55.32 million yuan.

Reporter from the public information query that two companies should be Golden Feida, 35 interconnection. However, November 11, the reporter contacted two companies and its sponsoring agencies, the other side are noncommittal.

"Such a company more than one, can not say that we, this is only your personal opinion, Shenzhen what things will certainly communicate with us." "This reporter inquires Jin Fei da dong The Secret office personage, the other side responds, and said, at present did not receive Shenzhen letter."

Jin Fei Tatsu since the listing of various concepts. Main operating apparel for the Golden Feida in May 2008 after the listing, November 21, 2008, its announcement to 16.8 million yuan of its own funds to buy the majority of shareholders held by Nantong Rainbow Wind Power Equipment Co., Ltd., 28% of the shares; January 5, 2012 issued a notice said the acquisition of Wenshan Mining Co., Ltd. 45% Equity; June 8, 2013 issued a notice to 31.2 million yuan acquisition of Xin Bao Mining and Dadu Mining 52% equity; This October 18, Golden Feida posted a job posting on a recruitment website, recruiting posts involving mobile phone games, games, internet lottery, E-commerce platform and other projects operating, Dabble in a number of popular concepts.

None of the acquisitions, however, have been expected to yield.

Its listed sponsor, the continuing director of the security of the securities Xu Youjun to reporters, said, "should be listed company's bulletin information." "We, as sponsors and continuing supervisors, involve the work of the sponsoring bodies and we will do it, but the things you just mentioned should be subject to the disclosure of listed companies," he said. ”

Another company, 35 internet directors, said to reporters, "We have clarified the number 5th, there is no reduction of controlling shareholders, we do not have received any letter of Shenzhen." "Then, she stressed," is not a direct reduction of controlling shareholders. ”

However, from the announcement, 35 of interconnected holding shareholders through the network Hing Reduction profit is the established fact.

35 Internet November 4 Evening announcement shows that the shareholder holding more than 5% of the shareholders of Tibet Shannan Zhong Network Management Consulting Co., Ltd. (hereinafter referred to as "Network Hing") through the Shenzhen centralized bidding system and bulk trading platform total reduction company 7,285,480 shares, accounting for the company's total capital of 2.27%.

The announcement said that China Net Hing for the company's controlling shareholder, the actual control of Shaohui's holding subsidiary, the reduction of 7,285,480 shares in the company, sold through the bulk of the 7 million shares are Shaohui indirect holdings.

Hand Tour merger Frenzy will retreat?

"Capital market rivals swim too crazy, hype and the ingredients too hot, the new regulatory requirements are to standardize the market, make the information more transparent." "Analysys International game analyst Shillon This analysis.

"The share price soared behind the merger-related concept stocks, which could cause huge losses for investors," he said. Zhang, general manager of AI Media, told reporters.

He pointed out that the current big problem of hand travel is that the concept of excessive overdraft, but the actual performance is difficult to sustain.

"Because most of the listed companies to deal with mergers and acquisitions of the content is less, are the subject of the acquisition of the financial situation, the main business, etc., financial data more good-looking words can usher in a higher market." "Zhang explained. "But in fact, there are a lot of hand-travel assets of the financial data are page tour, advertising, or SP business to bring up the performance, the sustainability of the performance of the hand tour is not to say." ”

A central China game industry Personage discloses to the reporter, "This kind of situation, 37 play is more obvious, want to play the entertainment including the Shanghai Tour Family network All exists, this is the game circle knows." ”

Zhang that, hand-travel assets only revenue, profits and other financial data, in fact, the information is particularly small, for the hand tour, user behavior, user composition and data and other information needs to provide objective third party data, complete disclosure in the public company's announcements.

"The market response will certainly be different before and after disclosure, as most investors are not aware of the specifics of the takeover and may be blindly following suit," he said. "Shillon said.

"If that is the case, the market will not be as crazy as the first half," he said. "Shillon predicts.

However, Zhang that the concept of hand travel itself is not cold. According to its monitoring, the market for hand travel last year was more than 5 billion, estimated at more than 11 billion this year, and next year's data could be 2 to 3 times times this year. "From this point of view, hand-travel is not just a concept, for investors, this area is still likely to be rewarded." Just need to select the original ecological, high-quality hand travel assets. "Zhang said.

This reporter learned that some of the listed companies involved in hand-travel mergers and acquisitions are not currently on hold, there is no increase in information disclosure plans.

On the afternoon of 11th, the star-FAI car model Dong-Hui said to our correspondent, "We are currently taking the normal process of mergers and acquisitions in the exchange of the link has passed the Plan and reorganization report, the follow-up words need to pass the General Assembly and the SFC audit." The company has taken note of reorganization-related news, but has not received any additional disclosure requirements from the exchange, which will be modified in future reports if necessary. ”

13th afternoon, Zhong Qing Bao (300052.SZ) Chairman of the Assistant Li Minghui told our correspondent, "We have received a few weeks ago Shenzhen about Hand Tour asset disclosure of the letter, the company also launched the relevant program, the Exchange is currently consulting the views of the companies, Details of what information disclosure is necessary to wait for formal notice, if the notice issued, we will add to the disclosure. ”