Triple-Net fusion delays song Hua Cable sold rating

June 2, the China Cable Bulletin said, in order to implement the central government in 2010 on deepening the spirit of cultural reform, and vigorously promote radio and television industry and Scientific Development, Beijing North Canton Media Group, Beijing TV and Beijing People's radio station together to form a Beijing radio and television stations.　　Song Hua Cable's largest shareholder for the Beijing North Canton Media Investment and Development center, with 44.98% of the shares, in the integration of the actual operator by the Beijing North Canton Media Group changed to Beijing Radio and television. The major shareholder changes, Yuan Securities industry analyst Chuo Hongtian that it has little impact. The change of major shareholder is part of the reform of the radio and television enterprises, which is already late in the Shenzhen.　　Song Hua cable current main revenue from the cable TV charges, whether there is a new profit model is not clear, and the current high price, the evaluation of its cautious recommendation. Liu Du, the bank's international analyst, points out that even if Beijing becomes a pilot city for the integration of television and telecoms services, it is doubtful that it will be able to occupy a place under the heavy siege of telecoms giants.　　According to current earnings forecasts, the stock is expected to be more than 50 times times earnings in 2010, so BOC International maintains a sales rating. Analyst Reviews CICC believes that the integration of the network is the local radio and television to cope with the three-network integration of the rational choice of competition, in the three-network integration pilot scheme did not come out of the case, investors and their attention to the pilot scheme issued by the time and list, rather than pay attention to radio and television Radio and television will promote networking and network integration, the establishment of the Beijing Radio and television, will speed up the Beijing "network integration" pace. Beijing's only cable network operator is the song China Cable, has completed a city of a network, and is the integration of the Beijing Radio and television stations under the only listed platform, more hope to become Beijing "network integration" of the main force.　　Investment securities industry analyst Zhao Yujie said that after the formation of large shareholders can bring more resources, song Hua Future can rely on a larger platform to develop, can expect more things, more cooperation space. Although analysts generally believe that the change of the big shareholder to China Cable long-term is good, but the three network integration of the actual operation remains uncertain.