Silver shares: The city of dormant wisdom to scramble the territory

This newspaper reporter Shiliyong besides the reorganization of assets, the other important reason to prop up its stock price is the speculation of the concept of intelligent city in the first half of the capital market. The restructuring was suspended for several months and was questioned by the media, but has achieved a composite growth of 35% in the past three full fiscal years.　　Silver shares (300020.SZ), the enigma of the listed company.　　In the end silver shares are Likui or Lee Ghost, the outside world, even the company is the engineering company or technology companies have great differences.　　With many questions, "talent" reporter interviewed Silver shares chairman Wang Hui. Dormant wisdom of the city in vain net, gentle, how to see silver shares of the head of Wang Hui is not like a businessman, more like an academic research.　　After that, Wang Hui sent a book by him and several other professionals, "smart city" to reporters. In fact, in addition to the identity of the chairman of Silver shares, Wang Hui's title also has a doctorate, Professor level Senior engineer, senior economist.　　So when asked whether Silver shares were engineering companies or technology companies, Wang Hui's answer was that silver was a software technology company. To be exact, silver shares are mainly engaged in the construction of intelligent city. According to the introduction of Wang Hui, intelligent transportation is the current silver shares the most important business, "each city specific to the streets, population, urban planning, etc. are very different, so that the transport system service providers to ' tailor ', personalized customization." So from this point of view, the foundation of the engineering facilities is relatively good construction, but installed in the software is the key. In this case the technical advantage can play a role. "There are investors wondering why silver shares not only have to do software, but also do hardware projects?"　　After all, light asset companies are more popular in today's capital markets. "This is primarily a matter of substitution. If someone else did the engineering hardware, we have become the selected software business, in the follow-up service of the project does not have the power, and their own contract projects, software services has become a high value-added products, so that the packaging and sales to enable customers to obtain a more comprehensive service, but also for the enterprise for the future business, At the same time can make software products to achieve high gross margin.　　Wang Hui to the "talent" reporter said that this is the silver shares of the good performance of a reason. Since December last year, silver shares from 9.88 Yuan, more than half a year, its share price rose by the wave, to May 31, set a 23.26 per cent of the stage highs, the share price to double. Subsequently, Silver shares were suspended for major asset restructurings.　　However, in addition to the reorganization of assets, the other important reason for the bull's share price is the speculation on the concept of Intelligent city in the first half of the capital market.　　Silver shares are dormant in the realm of intelligent cities almost from the day of their birth. In the early years, Wang Hui was still working in a bank. Because there are often some opportunities to go abroad, so that Wang Hui saw the appearance of efficient foreign cities, where the traffic, construction, medical care has left him a deep impression. "I am studying electronics, in the bank belongs to ' scraps '." "IsFor this reason, Wang Hui thought of starting his own business. There happens to be a small electronics factory has an opportunity, Hui resolutely left the bank, a plunge into the "smart city."　　In spite of the hardships of their temples white, Wang Hui or through the transformation of technology and capital, so that the original only to do monitoring equipment, small factory has become today's revenue over 1 billion yuan listed companies silver shares. Crazy turf for some entrepreneurs, perhaps the IPO is the end, but for real entrepreneurs, listing is a new starting point.　　This may be truer for the silver shares that have performed well since the IPO, as trouble has come.　　Media has "high growth illusion: Silver shares affiliated ' Add fertilizer operation '," Silver shares internal governance black hole Exposure: equity structure, performance income, audit reports are not true "and" silver directors do not get the company's compensation equity incentive to face external personnel "question silver shares of the performance.　　Although Silver shares were quickly clarified, "talent" reporters still saw significant discrepancies in cash flow and income in their earnings reports.　　Wang Hui said that this phenomenon, first of all because the silver shares in recent years, the development of a very fast, even if it is not regardless of the cost of expansion. Silver shares in one of the main business of intelligent traffic is a typical exclusive business. If a city uses a system of silver shares, it is actually difficult for other companies to replace Silver shares. In this case, the enterprise must quickly occupy more cities.　　"For example, Nanchang, the front of our investment is very large, and the first year's business volume is also small, also 50 million, but then the land continued to continue every year 100 million of the business." As a result, this upfront investment and rapid enclosure so that silver share earnings show is to make money, but no money flow in.　　In addition, the remittance cycle of these urban projects is generally longer, the basic is more than 1.5, which is also a cash flow and income mismatch factor. For this embarrassing question, silver shares also made some responses last year. As China's macroeconomic growth is slowing, at the same time the company to undertake some projects need to advance some of the funds phased.　　Therefore, Silver shares will be back as a whole year's work focus, pay close attention to operating cash flow, to the end of this indicator finally positive, to 36.7796 million yuan.　　Wang Hui said this kind of money will also be a key point in the next few years, "the cash flow situation of silver shares will be getting better".　　Of course, for investors to pay attention to not only the company's financial situation or business risk, but also more important is the wisdom of the concept of the city's ability to become realizable.　　According to incomplete statistics, the country has 95% of the deputy provincial-level cities, 76% of the city, a total of about 230 cities proposed or under construction of Intelligent city, investment scale nearly trillion yuan. With the quickening pace of urbanization in China, the efficiency of city has been paid more and more attention. Relying on intelligent transportation, actively cut into the development of intelligent medical care, Wang Hui that this is the silver shares in the wisdom of the city's development focus。　　At the same time, silver shares in the future to enter the international market, Southeast Asia is likely to become its first stop to go abroad. "Silver in the past few years to rob the site too fierce, the future to learn to abandon, learn to win, to eliminate market competition caused by the sharp contradictions." "After the rapid development after the listing, Wang Hui thinks silver shares should go more steadily."