The network game stock also will emerge the threshold to increase the difficulty to hinder the capital advance

Recently, according to media reports, a wind to say "new online games companies are not likely", based on the current listed companies rely on their own capital strength and channel has eaten away the market share, other companies will be difficult to find a large scale of income, to achieve independent listing is not likely. The author is skeptical about this kind of argument. The threshold of heightening, does not mean that the dead, the game industry should not lose confidence.　　To use this article, to do a discussion, to provide a number of different points of view. The first how to market a number of options for the online game companies to go public, the first to think of a good listing, which market can best identify their own concept and company value? If the choice of overseas listing, there are Nasdaq, Hong Kong stocks, South Korea Gem, Japan, a number of channels.　　The first choice of domestic listing of course is the Shenzhen gem. The Nasdaq market already has a number of online games listed stocks, basically include the first few Chinese online games industry, the Chinese online gaming enterprises to the understanding of the city may be more familiar with, but the problem is that if the choice of the city, with the first line of online games companies and internet companies in the same game, its potential requirements of high growth determines the final price, for the post listed How to attract investors under the condition of lack of concept is a difficult problem, and the underwriting fee is higher.　　The benefits of the city require capital, the number of shareholders is not harsh, the option of one of the turnover demand only 1 million U.S. dollars annual turnover, a discount of 7 million yuan, and the renminbi pegged to the U.S. dollar, how much reduce the exchange rate risk. Among them, Kosdaq South Korea gem listed fastest (three Connaught listed from the application to the official IPO only 3 months), and underwriting cost is lower, kosdaq turnover in the world second only to Nasdaq is a highly active trading market, but KOSDAQ degree of International Limited, The won itself is not international currency and volatility in recent years, in the domestic Korean certificate volumes, the law of limited understanding of the situation, the listing needs to be resolved more problems.　　But Kosdaq's advantage is also obvious, South Korea itself is a big game, the concept of online games is clearly more than the European and American markets, higher valuations, and the attractiveness of China's online gaming industry more attractive to South Korean investors. Hong Kong stocks gem is a compromise and better choice, Tencent, Jinshan, network Dragon to choose Hong Kong listing precedent, Hong Kong as an international financial center, in the financing capacity of the forefront, underwriting fee moderate, Hong Kong dollar and renminbi have the linked exchange rate mechanism, more than local investors easier to understand the domestic internet market, This brings the possibility of high valuations, but at the same time may also bring to the second-line online gaming company's rationalization of the low.　　But overall, the Hong Kong stock market is a compromise option, Jinshan for the listing 8 years, the final listing of the landing in Hongkong can be seen. And Shenzhen Gem, as an Up-and-comer, the current high valuations, localization of the domestic online gaming companies are most attractive. We have seen the IPO performance of the Chinese green treasure is so astonishing. After the attempt to listed online games companies such as Kirin, snail, China flying news, such as the same lock domestic gem naturally has its reasons. The problem with domestic gem is that 30% annual growth, 50 million turnover, to2 years must be a profit of 10 million, and the most important thing is how to "over", the intermediary strategic investors and the enterprise's own ability is very important. From the overall comparison, the second group of direct listed online games companies most likely to choose the sort is the Shenzhen gem, Hong Kong, NA City or South Korea gem.　　[Page] Second who has a listing? 1) Online games companies directly listed from the Green Treasure Prospectus can easily find clues, according to its prospectus shows 2008 years in the 15th, and the current direct listed companies 11, directly the rest of the following are: Long tour, Light Yu Huaxia, Lian Zhong, Century Tiancheng, as well as thousand oak. If only to Shenzhen Gem Revenue index of 50 million yuan requirements, the future can also be included in the snail, Kirin, Blue Harbor, the target software. Of course, some people will say, Guangyu, Lian Zhong, Century days into the parent company or large shareholder has been listed companies, its split listing is not feasible or doubtful, but please bear in mind that the maximum shareholder benefit is the largest driving force, Guangyu shouted how long the listing of the public you know.　　has been invested by the state-owned online games companies should also be concerned about the investment 2 times in China, the Chinese flight, the last round of investment qualitative is POR-IPO, subsequent operations can be seen in the timetable. Another point that needs to be concerned is that net investment fund may bring the possibility of listing in Taiwan, the wisdom of the crown as a listed company, but there is still a Chinese net dragon another listed shares, the game is also listed in the new main line on the agenda, it is clear that a network of companies to split a number of listed companies is not impossible, but the capital　　Shanda 18 Fund projects will be the future of the development of new listed companies, is also a topic of concern. 2 online games to find out how to look for the concept of webgame, nine-dimensional network, Lok Hong Kong is also possible choice, many people are not optimistic about the web manufacturers, here on the one hand, the short life cycle of web products, revenue stability may be passable, but a saying: better do the chicken chicken does not do The concept of a market segment is better than no concept to attract investors, the use of China Green Bao Prospectus to its patriotic, historical themes are leading manufacturers.　　In fact, it is not difficult to find the concept, the important thing is whether investors agree. In the search for the concept of market segments, mobile games, social games is also a hot spot, although the empty network from the SP started but has turned this concept into a reality and the successor of the large loan to the IPO success, but also to do a real game. Social games and SNS have gained international capital recognition, in the social field of hot cool is undoubtedly more likely to become a social game concept manufacturers, and SNS community of the Thousand oak is the most.　　and similar to the existence of innovative concepts and IgG this is the IDG investment of the game company, IgG online game of the entire export model, from the foothold has been very unique. 3 The overall development of the industry, will drive more online gaming enterprises and more related industries according to the estimated online gaming industry in 2013 will reach 58 billion revenue scale, the listing standard is relatively fixed, but the industry development is alive, if this calculation, in 3 years after the characterTogether with the GEM listing conditions, the annual turnover of only 1 per thousand of the total, although the industry concentration in the expansion, but does not mean that the future of new games enterprises can not reach this number. It is true that the current resources are monopolized by listed companies, so competition intensifies. But the channel advantage is more competitive for the developer, but the capital strength is the key to the operating company. Zynga has shown us how to use capital to expand channels of high input and high output patterns. and domestic Kirin from scratch also on these 2 years, and asked them before the existence of resource advantages? Only capital.　　Game industry is the essence of "content is king" industry. On the other hand, from the marketing point of view, the traditional industry to see the promotion costs generally accounted for the turnover of the 1-3%, this simple calculation, the resulting marketing costs are dozens of times times the number, here is the possibility of marketing industry listing. From the media industry, more play network should have the possibility of listing, and similarly, the trading field of 5173 is also a possible future choice. Related industries listed, has been the marketing industry's blue cursor, provincial wide validation feasible.　　[Page] Third listed companies to accommodate the market in the end how much more analysis, and the concept of the game is actually a lot of companies, and can be listed on the one hand is the listing and capital operations, and the whole market to accommodate the problem, in the end the Chinese market can accommodate how many games listed companies. From Taiwan, Taiwan has wisdom Crown, orange, 開鈊 elephant, Chinese net dragon, Yu June Odin, Huayi, Daewoo, European buy race, Le Shen, billion Thai, Yu Quan, 11 game shares, 2010q1 quarter, Ranking the first wisdom Crown revenue 430 million yuan, the end of the Yu Quan Q1 only 6 million yuan, some unlisted company's revenue more than the end of listed companies. From the revenue figures, the 1th and 11th have 70 times times the drop, the 1th wisdom Crown and 9th music, revenue figures also have 20 times times the Gap, Lok-Sheng is the game industry more familiar manufacturers. Back to the domestic online game stocks, from the first Tencent to the Net Dragon, the Revenue drop of only 10 times.　　Compared to Taiwan, the domestic online games listed companies are not very open range. And as an important market for the game of South Korea, the 1th place NHN and the last one of the Softmax revenue gap is 250 times times, (NHN is not pure online gaming business), the game industry 1th Nexon and 20th Liveplex revenue gap is still 24 times times.　　The overall size of the Korean online game market with China is about more than 20 billion, but the entire South Korean online games listed more than 20, from the number, the Chinese online games stocks are not too much, but too little, with the domestic online games market scale continues to expand, the scarcity of such listed companies will lead to a number of listed companies Revenue Unit (billion won) rank company Name Company Property 09 Revenue Rank Company Property 09 Revenue 1 NHN listed company 346 2 Nexon 7037 18Dragonfly 344 3 NC Soft listed company 6347 Com2us listed company 317 4 Neowiz listed company 2772 Liveplex 283 5 CJ listed company 2206 Webzen listed company 2 6 KTH Listed Companies 1795 YNK listed companies 277 7 Actoz listed companies 1382 Ntreev 247 8 Wemade listed companies 1063 Game Vil listed companies 244 9 T3 listed Companies 9　　ESTsoft 243 nowcom listed company 703 JCE listed company 219 Hanbit listed company 614 Windy Soft 190 A listed company YD 586 148 Mgame listed company 559 ALT 1 Game Hi listed company 515 Uniana Gravity 439-Barunson listed Companies 102 ndoors Onov Softmax listed Companies 63[page] Fourth new players to enter the domestic online game stock plate will be shaped grand, NetEase, nine city is dug up the concept of the first bucket of gold, as the first pioneer of this industry, they are successful.　　Ten years of industry growth, accompanied by a group of first-line game companies listed overseas, a group of entrepreneurs and investors profit quite abundant, but a large number of companies overseas listing caused by the reality is that the domestic stock market in the concept of the stock plate has not yet formed. The industry has a point of view, the current online gaming industry has entered the stage of capital competition, here performance in the market competition for funds more and more high, in addition, the enterprise's own capital strength and capital background requirements are increasingly high.　　A newly created gaming company is raising the bar if it plots future listings, but the same changes are taking place. In the foreseeable future, with the increasing number of listed companies, more and more newcomers, including state-owned media groups, will begin to enter the online games gradually. And the similar industry's film and television industry, Huayi Brothers has said that new shares to develop online business. We will find that more investors with capital strength or related resources will join the game industry.　　This in the online games industry longer development of Korea has already appeared, some film companies, media companies, telecommunications and even entertainment brokerage companies directly involved in online games, and then create a new listed online games company. Close to 5.19, also have to mention the 5.19 market, when the rise of the sea Rainbow holding its concept toOne source is the Lianzhong. And the recent acquisition of Bo Rui spread Chengdu Dream Factory, also let us see the concept of online games to the existing listed companies to pull the stock price, these rich effects and concepts attract a larger capital players.　　The domestic stock market will not wait for the return of overseas online games listed companies, in the enterprise self-development desire Drive and capital driven, online games listed companies continue to emerge. In summary, in the current domestic gem only one online game of listed companies, the concept of online games in the domestic stock market does not exist, is only a case, and the concept of a vacuum will be the new listed companies to fill in, if the domestic gem began to seriously implement the value of its existence-to help the start-up of technology enterprises financing, The process will also accelerate. The future of the online games listed companies of the outbreak point, on the one hand, online games and emerging market segments, on the other hand, may come from the related industry. If a forecast is to be made, there may be 10 companies that might be listed.　　In the new wave of listing, investors need to pay attention to media companies to the penetration of the online games industry and the existing listed companies, the strength of the investment in the game industry, the threshold of heightening, and will not block the advance of capital. In the next 3 years the net swims the industry to grow 20 billion of temptation, do not compete for this market, is block up the road of listing. (Edit/Zhang Lei)