Tian Zhou Culture Day K

One months ago the industry rumors of the days of the boat culture (300148) in the reorganization of suspected insider trading in the relevant departments investigation, November 30 was confirmed. On the same day, the company published a notice disclosed: "The company on November 29, the Chinese Securities Regulatory Commission to notify, because the parties involved in the reorganization of the alleged violations of the case, the merger and reorganization application was suspended for review." The company has not yet received a notice of investigation of listed companies. ”

There is no doubt about the market

Due to the planning of major asset restructuring, the days of the Zhou culture suspended this July 2. August 27, the company announced the restructuring plan: to the private issue of shares and cash payments in the way, the acquisition of 1.254 billion yuan Beijing magical Times Network Limited 100% equity and supporting financing of 418 million yuan.

In the market environment where the concept stocks soared in the hand, Tian Zhou culture this reorganization plan, immediately by the frenzy of market funds chasing, the company after the card appeared 12 trading, from the 14.50 Yuan before the suspension rose to a maximum of 51.12 yuan, a short 27 trading day soared 253%, was sealed as "trading King."

Financial statements show that the 2012 magical era to achieve net profit of 30.42 million Yuan, January-June this year to achieve a net profit of about 43.57 million yuan, more than 2012 throughout the year. In addition, the magical era of the two games "Three Kingdoms era", "Forget Fairy" the current cumulative number of users have more than 10 million people, in the user recharge amount of "Three Kingdoms Times" reached 60 million yuan, "forget the fairy" more than 300 million yuan. This to the current performance into the trough, the development of the day of the bottleneck of the boat culture, such as the reorganization can be successfully completed, will have the opportunity to "Crow change Phoenix."

However, the restructuring of the days of the Zhou culture, the market is also no doubt the voice: one is to query the price of mergers and acquisitions too high. Tian Zhou Culture bulletin shows that, until June 30, 2013, The Magical Times Net assets book value is 56.977 million yuan, namely corresponds to the day boat culture 1.254 billion yuan purchase price, this merger asset appreciation rate is as high as 21 times times; by the middle of this year, the total cultural assets of tin Zhou is only 624 million yuan, that is to say, the assets it buys is twice times the company's assets Second, the question of the boat culture has followed the trend of speculation to promote the concept of the company's share price, for the upcoming company's largest original stock lifting paving the road. Public information shows that the first major shareholder of Tian Zhou Culture, Hunan Tianhong Investment Group Co., Ltd. holds 65.17% of the shares will be lifted on December 16, the lifting of the number of 99.13 million shares, and Tianyi culture chairman Xiaozhio through the actual control of Hunan Tianhong Investment Group Co., Ltd. indirectly hold a tin Zhou culture more than 55.5% Equity.

The investigation and punishment strength greatly enhances

From the recent performance of the day boat culture in the two-tier market, with the concept of hand tour market speculation cooling, the shares also fell sharply, the shares in Friday closed at 27.98 yuan, compared to its highest price has shrunk 40%.

Although the current days of the Zhou culture can not be "involved in the reorganization of the relevant parties suspected of illegal" to provide more information, but from the second half of this year, listed companies published information to see, the CSRC on the reorganization of listed companies in the process of illegal violations of the investigation and enforcement efforts greatly enhanced.

According to statistics, this year August to date, in addition to the days of boat culture, the Shanghai and Shenzhen cities at least 7 companies also because of participation in the reorganization of the relevant parties involved in the illegal investigation of the case of the company's reorganization application was suspended audit, these companies are: China to hear the media, Jiangsu Acer, Purple shares, Huayi film and television, Sinosteel Kyrgyzstan carbon, Hangzhou, luyin investment.