Had success: open game company or will be
in Hong Kong now
The authority holding (00484 HK) yesterday officially listed on the hkex, on the market price is HK $51, HK $67.50, growth of 32.25%, the total value of 8.47 billion Hong Kong dollars.Four years of existence, the only game company has become the biggest first-day rise this year by the Hong Kong new listed companies.
Than a-share listed company m&a boom this year, had listed on the domestic game industry incentive more apparent, in the past period of time, because the IPO moratorium on domestic market and overseas capital market of online game companies apathy, Chinese game industry appeared A year-long listed window period of time, the authority of the
successful listing, will encourage more domestic game companies choose in Hong Kong.
A game company investors to tencent's science and technology, said the authority holding on p/e ratio reached 13.48 times the number in middle a-shares gem companies such as treasure, palm interest at the p/e ratio of the preceding hundreds of times, but still higher than changyou, shanda games, such as the nasdaq listed company, belong to the ideal way of exit, also compares the game company management's expectations.
This means A period of time in the future, more and more domestic first-line game company will seek in Hong Kong as the first choice, in the first half of this year began to a-share companies borrow to buy game company high price boom or will slow.Page at the same time, domestic competition between tourism companies will also intensify, spending on intellectual property rights or page will be key to swim and mobile game market.
Traveling through the hkex
Since China mobile game in September 2012 through the way of "introduction" to log in to the nasdaq had controlled the hkex listed so far, has been A whole year without A domestic game companies
successfully listed, the causes of this phenomenon in addition to is cooled and the us capital markets lack of interest in online game concept, also with the domestic a-share market is directly related to long-term moratorium.
According to several media reports, including tourism, kunlun, ten thousand d, Shanghai 4399, kai, the network, snail game, domestic game companies have tried to going public, but is in the previous shares were affected by the massive short events, increased difficulties of u.s.-listed Chinese companies financing amount is reduced, so the game companies have focused attention on the A shares the gem, but by the CSRC regulatory storm stranded again.
It is worth noting that in 2012 the success of landing a-share gem palm instead of boring technology and middle treasure after news without going public.Securities industry practitioners to tencent's science and technology, said in a long time, going public is the first choice domestic science and technology enterprises, the size of many game companies in the industry and performance are higher than fun and middle bao zhang, but missed the best time.
He believes that the listed companies in two consecutive to the listed has been blocked, because in recent years, rare game companies listed on the hkex (net dragon in 2008 transferred to the Hong Kong stock
exchange main board, the p/e ratio is 210 times and no network.on), also let the company can't easily to enter, so eventually had become the important role of hkex passes.
The twice failed to listed companies in the game snail Shi Haiceng founder said to the media, Hong Kong will consider game company in electronic communications plates, generally is 30 times the PE.But that figure apparently do not tally with the actual - traveling holding on p/e ratio of 13.48 times.
This is a digital disappoint the domestic game industry?
A game company investors to tencent's science and technology, said the figure as middle a-shares gem companies such as treasure, palm interest at the p/e ratio of the preceding hundreds of times, but still higher than changyou, shanda games, such as the nasdaq listed company, belong to the ideal way of exit, also compares the game company management's expectations.
Circle of friends, he said, mostly to have rational expectations hkex, had success in Hong Kong for domestic game companies play a demonstration role in great quantities, there will be a large number of domestic game companies in Hong Kong.
A-shares acquisition and merger boom or cooling game company
According to the game industry observers Zheng Huafeng to tencent technology, had listed for domestic game companies is A big good news, it also means that the future a-share companies want to m&a game companies will be increasingly difficult, drama or busy before m&a will enter A cooling-off period, to be sure, A line of game company is taken over the possibility of A smaller and smaller.
Have mobile game company founders agree with this view, "the game company especially mobile game company's a-shares company scrambled by A very high price, but the a-share companies not sincerely game business, just make A concept, the company bought by A difficult to accept, but A lot of company management investors under the pressure to sell, thanks to the Hong Kong listing this road".
It is understood that since huayi brothers m&a Banks this year, only A short span of three months time, the domestic has been nearly 10 mobile game industry mergers and acquisitions, and there are many a-share companies in A suspended state, the national holiday after official news for game companies mergers and acquisitions.
Merit of the sole financial advisor, huaxing capital managing director wong shing to tecent science and technology, said the a-share companies mergers and acquisitions boom is not entirely rational, game company huayi and merit of flash marriage for the industry to establish A
successful templates, copy the case is not impossible, but the game companies want to sell on the market, more and less of a-share companies ".
According to tecent science and technology, more in zhejiang province, has a large number of idle fund will invest in real estate funds back to the pitcher company, this has given rise to the emergence of a large number of mobile game team directly.Bubble, brush list or buy A list of all mobile game company has become the norm, there is also A shares companies try to "customize" mobile game for acquisitions.
But as the traveling holding listed, could change this phenomenon, in the first half of this year's a-shares acquisition and merger game company boom elite will never sell the company will be more firm faith, and some for investors to exit pressure swing listed companies tend to choose.When A line game company is not for sale, the price of the second line game company value will decline and mergers and acquisitions, game company boom of a-shares acquisition and merger will be cool.
Copyright will be a game company core competitiveness
The page as the first domestic listed companies, the authority's predecessor is Forgame online game company, the group was founded
in 2009, headquartered in guangzhou, a wholly owned subsidiary of three: the Philippines in guangzhou and guangzhou jie is responsible for game development, guangzhou is d dynamic game operating
companies, both from the research and distribution two big business.
According to the prospectus, as of June 30, 2013, the authority control in the first six months of 2013 income is 573.7 million Hong Kong dollars, up 65.3% from a year earlier, the current market share in the domestic tourism market the first page.Prospectus also showed that had listed would be obtained in web games and mobile games licensing and intellectual property rights, etc.
Page before this, domestic tour company has been in chaos, do not take the intellectual property rights and is famous for its vulgar advertisements, while most lucrative company in the industry, but few companies are willing to come out to change the status quo, presents the status of the whole industry is extremely similar with the SP market growth.
Perhaps it is because the page swim wild growth of the market, according to the Chinese BanXie games committee the Chinese game industry report, according to data from the second quarter of 2013 web game market open clothing product quantity, although growth, but open intake growth quickly fell to 16.1% from 66.1% in the first quarter
of 2012, and the growth rate of the number of users has slipped from 23.8% in 2012 Q1 Q2 15.3% this year, the trend of the market slowdown is obvious.
The personage inside course of study, according to the authority are rich in the experience of operating the grind and agency, and has a strong channel itself, so has the greatly strengthened competitive power.Increasing investment, the company took the lead from the copyright issue in the future is likely to take an encirclement and suppression of rival, seek a bigger market share.In this process, the long-term chaos page tour market is expected to change the status quo of disorderly.
But there is also a page tour industry thinks, because the authority need research and development and operation of dual role, must take into account with other CP (producers) and other channels, the relationship between the short term will not take much to have deteriorated with peers, or in the future with the company to the attention of the copyright is directly related to leverage mobile games market.
In dynamic excellence traveling, CEO Mr. Xing also has repeatedly stressed the importance of copyright, the current dynamic excellence of five projects, all with "I'm MT" and "mercenary the world";And another
page tour company kunlun, ten thousand d, by operating the popular mobile game of the biography of wu xia, Q did not get a jin yong's authorization and emergency change name.
Obviously, the investment will be traveling to the future of intellectual property rights in the field of swimming and mobile game development of one of the core competitiveness.