February 3, two days in a row U.S. stocks rose slightly after the callback. The Dow Jones Industrial Average fell 0.26%, S & P 500 index fell 0.55%, the Nasdaq composite index was up 0.04%.
Recently, the market widely rumored China Mobile (941.HK) high-called Tencent Holdings (700.HK) means that the former high-level short-term acquisition of the latter, triggered Wednesday Tencent Holdings shares rose 5.99%. However, this fast-moving rumor rumors, noting that this is a normal visit, but during the same period were also visited China Wireless (2369.HK). The news was announced yesterday, Tencent Holdings fell 2.73%, their colors.
In mainland China, Tencent's QQ chat software in real time is known, while its core business also started around this software. September 2009 interim report revealed in 2009 showed that Tencent QQ and games in the field of value-added services to achieve 2.156 billion yuan in revenue, to achieve gross profit 1.491 billion yuan; and co-operation with China Mobile and other telecom value-added services are to co-operate to achieve 470 million yuan and 2.9 billion in operating income margin, as QQ.COM portals such as advertising revenue has created 243 million and 169 million in operating income margins. A lot of Internet companies in the Mainland, there are also many listed, but Tencent Holdings is regarded as one very special one, its core business was neither as Sina, Sohu so large and the traditional gateway to the main portal site, but also unlike the later The giant, perfect for a leisurely time and space and other online games the main, QQ that a number of Internet users every day to use chat software for Tencent to win a lot of loyal users, and derive a great deal of revenue. Such an instant messaging software as the core of a diversified business model, in the industry is absolutely unique.
Because of its unique selling point, so the market given its high valuation premium. According to Bloomberg statistics, Tencent Holdings trades at 60.81 times, while only 16.38 times as Netease, Sohu is 14.45 times, 32.77 times for Sina, Tencent Holdings with a bargaining chip is to go with the unique concept of Baidu and Alibaba, price-earnings ratio were 79.36 fold and 77.66-fold. High price-earnings ratio is not only a kind of "honor", but also a kind of "protection." As of yesterday, Tencent market value of up to 265.5 billion Hong Kong dollars, to move while sitting on more than 200 billion yuan in cash, but the enormous amount of money just buy one Tencent to improve its core Internet business can not be considered too risky. To say that acquisition of Tencent, in its 2005 market share, but had just 35 Hong Kong dollars, worth only a few billions of the Hong Kong dollar is certainly a cost-effective business, but for now, is clearly not worth the effort of the. In fact, in recent years, moving from the layout point of view, the move seems to have long made up his mind to go "personal build" route, through the commission A-share listed companies Ultrapower flying operations and the introduction of instant messaging software, although the letter is a latecomer in this area, However, send text messages free of charge by virtue of the advantages of growth in the past two years is indeed fierce, if the next pre-installed with mobile OPHONE Fetion popularity of this block of business growth will have a new growth opportunity.
No comments:
Post a Comment