The first share of the portal site fell: China net sold to the national wide media

Having a heavyweight domain name does not mean escaping the fate of being sold. Recently, the China Network Technology Co., Ltd. (hereinafter referred to as "China Net") issued a notice in HKEx, the proposed 90.8 million Hong Kong dollar (about 71.83 million yuan) to sell the Chinese web portal business, the buyer for the national wide global Media Holdings Limited.

As early as the four major portals to the Nasdaq's China Network, was the first to hit the Chinese concept of the star stock, but suffered 2000 years after the dot-com bubble collapse, and with the rise of four major portals gradually fade out of the first camp of the domestic portal.

Frequent sale of assets

The main business of the Chinese network is to operate the portal in mainland China, Hong Kong and Singapore, providing content and Internet services, advertising services through the Internet and travel magazines, organizing activities services and publishing magazines. But because of continuing losses, the Board of Directors believes that the sale of non-profit businesses will enable companies to better allocate resources to their businesses and other investments. 2012 China net turnover of 142 million, the year-on-year growth of 11.9%, profit growth of 195% to 20.41 million yuan. In the first quarter of this year, the turnover of the Chinese net grew 10% to 36.51 million yuan, with a profit of 4.75 million yuan, which recorded a loss of 6.41 million yuan in the same period last year.

The framework of the agreement of the buyer of the national wide Holdings, Canton Holdings by the state wide Media Development Co., Ltd. and the same party shares, Zhejiang News Media Holdings Group established by the establishment of investment, the national wide Holdings has launched a number of acquisitions since this year.

South All reporters check the data found that the Chinese network this year has been frequent multiple capital operations. At the beginning of the year, China net shareholders m Interactive and CDC trust to Chenying sold more than 79.49 million shares of the company, the price of 325.9 million yuan, accounting for about 74.17% of the company's issued share capital. In June this year, China Net also sold its private equity fund new HORIZONCAP-ITALIV,L.P to independent third parties. All rights and interests, 516,000 dollars in cash. In this regard, the Company believes that the sale of the matter will help the group to focus its resources on its core business.

The shares of the Chinese net rose from about HK $4 in January this year to yesterday's HK $5.69/share. However, the Chinese network business is not as flourishing as the stock price, after the Nasdaq after the market has not found a suitable profit model, and finally can only "abandon car bao Shuai", the Chinese network china.com sale.

The survival mode of the portal site

1999, the Chinese network in the United States Nasdaq listing, is China's first listed companies to the United States, March 2000 in the Stock exchange of Hong Kong Limited's gem listing. However, in July 2011, the Chinese network in the listing 12 years after the lack of timely submission of the annual report by the Nasdaq's written warning, the same year in October, China Net investment group filed for bankruptcy protection, the Chinese network in the United States Nasdaq retreat.

5G founder Bo said in an interview with reporters in the south, the Chinese network as an internet company has long been marginalized position, in fact, he later divided into two parts, part of the business services, the other part of the game. "The company began with the capital players, he can grasp the situation very early successful listing, later, after a part of the shareholders, the business continues to follow the capital market to adjust, including the acquisition of some business services and games products." To a certain extent, the Chinese network has long been not a portal site, the portal is not at all his core business. ”

Bo proposed that the early portals to use the Internet unlimited storage and no geographical differences, the traditional media moved to the Internet, the model at that time more easily satisfied with the needs of users to access information. But with the Internet more and more rich, users online activities are more and more large, the original model of the portal has faced challenges, the portal is more like the traditional media "content + advertising" mode, basically not too involved in the new business model of the Internet.

"As an old model, the portal concept of stocks in the capital market to grow in fact difficult, the market value does not increase, enterprises will inevitably face to sell the problem." Bo that few people now mention the Chinese web, which has been completely marginalized. "The Chinese network itself does not have much value, but as China's first listed internet companies, there are some concepts of value, so willing to follow the game is also the concept of players, not to do service." ”