Profile - To The Moon

Li Guixi

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- Li GuixiLi Guixi
  ·2023-07-19
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- Li GuixiLi Guixi
  ·2022-03-08
  💰
  Sorry, this post has been deleted
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- Li GuixiLi Guixi
  ·2022-02-25
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- Li GuixiLi Guixi
  ·2022-02-16
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  HKEx welcomes the 6th SPAC form submission! Which capital has entered the game?
  港交所近日披露，“特殊目的收购公司”（SPAC）Vision Deal递表港交所主板上市，花旗及海通国际担任联席保荐人。阿里巴巴前CEO卫哲、Deal Globe、楼立枢及创富融资为发起人。（图片来源
  HKEx welcomes the 6th SPAC form submission! Which capital has entered the game?
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- Li GuixiLi Guixi
  ·2022-01-27
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  The Nasdaq rose more than 2%! Markets hold their breath as they await Federal Reserve Chairman Powell's press conference.
  周三，投资者等待美联储（Federal Reserve）会议结果，美国股市开盘上涨，此前市场又经历一个疯狂的交易日。美联储本次会议预计将为2022年定下基调。道琼斯工业指数上涨约308点，涨幅0.9%
  The Nasdaq rose more than 2%! Markets hold their breath as they await Federal Reserve Chairman Powell's press conference.
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- Li GuixiLi Guixi
  ·2022-01-14
  👌
  Are capitalists tired of hearing the "metaverse" story of Chinese Online?
  “元宇宙”罩不住中文在线了？被誉为“元宇宙”龙头之一的中文在线，这下尴尬了。2022年1月11日，中国移动通信联合会元宇宙产业委员会揭牌，接纳涉足“元宇宙”的8家上市公司，包括中青宝、天下秀、风语筑等
  Are capitalists tired of hearing the "metaverse" story of Chinese Online?
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- Li GuixiLi Guixi
  ·2021-08-24
  Good to buy ?
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- Li GuixiLi Guixi
  ·2021-08-11
  $fuboTV Inc.(FUBO)$Thanks
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- Li GuixiLi Guixi
  ·2021-08-01
  Share . Good
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- Li GuixiLi Guixi
  ·2021-07-10
  Keep waiting
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Guixi","avatar":"https://static.tigerbbs.com/d47f140f55f4badb19ca06d16064de5b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570833668911971","idStr":"3570833668911971"},"themes":[],"title":"","htmlText":"💰","listText":"💰","text":"💰","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9095473005","repostId":"1102305568","repostType":4,"repost":{"id":"1102305568","kind":"news","weMediaInfo":{"introduction":"中国大陆领先的金融数据、信息和软件服务企业，总部位于上海陆家嘴金融中心。","home_visible":1,"media_name":"Wind万得","id":"99","head_image":"https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68"},"pubTimestamp":1644979739,"share":"https://ttm.financial/m/news/1102305568?lang=en_US&edition=fundamental","pubTime":"2022-02-16 10:48","market":"hk","language":"zh","title":"HKEx welcomes the 6th SPAC form submission! Which capital has entered the game?","url":"https://stock-news.laohu8.com/highlight/detail?id=1102305568","media":"Wind万得","summary":"港交所近日披露，“特殊目的收购公司”（SPAC）Vision Deal递表港交所主板上市，花旗及海通国际担任联席保荐人。阿里巴巴前CEO卫哲、Deal Globe、楼立枢及创富融资为发起人。（图片来源","content":"<p><html><head></head><body>The HKEx recently disclosed that the \"Special Purpose Acquisition Company\" (SPAC) Vision Deal was submitted to the main board of the HKEx for listing.<a href=\"https://laohu8.com/S/C\">Citigroup</a>And<a href=\"https://laohu8.com/S/00665\">Haitong International</a>Act as a joint sponsor.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Former CEO Wei Zhe, Deal Globe, Lou Lishu and Chuangfu Financing are the sponsors.</p><p><img src=\"https://static.tigerbbs.com/de7a7b5d0845bce6df8aca065ff9c141\" tg-width=\"796\" tg-height=\"659\" referrerpolicy=\"no-referrer\"/></p><p>(Image source: Vision Deal prospectus)</p><p>The prospectus shows that the company intends to focus on specializing in<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Automotive technology, and high-quality Chinese companies with supply chain and cross-border e-commerce capabilities that benefit from the upgrading trend of domestic consumption.</p><p><b>Former CEO of Alibaba as Promoter</b></p><p>According to the prospectus, the sponsors of Vision Deal are Wei Zhe, founder of Jiayu Capital and former CEO of Alibaba, Deal Globe, Lou Lishu and Wealth Creation Financing. 90% of the Class B shares of Vision Deal are held by Vision Deal Acquisition Sponsor LLC, which is owned as to 40% by VKC Management, 40% by Deal Globe and 20% by Lou Li Shu, respectively. VKC Management is an investment holding company wholly owned by Weizhe.</p><p>The remaining 10% of Vision Deal's Class B shares are held by Opus Vision SPAC Limited, an investment holding company wholly owned by Wealth Creation Capital.</p><p>From the background of the sponsor, Jiayu Capital, a private equity investment fund founded by Wei Zhe, focuses on new channels, B2B platforms/services/products, new consumption and new technologies empowered by China's internet industry, and as of December 31, 2021, its AUM reached US$2.2 billion. Some of its well-known investments in China over the past decade with the theme of consumption upgrading include:<a href=\"https://laohu8.com/S/09992\">Bubble Mart</a>、<a href=\"https://laohu8.com/S/06969\">Smol International</a>、<a href=\"https://laohu8.com/S/300866\">Anker Innovation</a>Etc.</p><p>Deal Globe is a member company of Yijie Group, a cross-border boutique investment bank; Lou has held various positions in private equity firms and investment banks, including the San Francisco-based<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Apax Partners in New York and Hillhouse Capital in Beijing; Fortune Capital provides a number of financial services and has successfully completed 46 initial public offerings and secondary offerings of listed companies and private companies with a total transaction size of approximately US$1.5 billion since its establishment.</p><p>According to the Vision Deal Prospectus, certain macroeconomic factors and industry trends will continue to support the smart vehicle technology market and consumption upgrade trend in China. Not only has China's economy experienced strong growth over the past decade, the relevant policies and technological advances are driving the growth of China's smart vehicle technology market. Furthermore, Vision Deal witnesses the rise of Chinese companies benefiting from China's vibrant consumer market. Supported by strong domestic supply chain capabilities, Chinese consumer goods companies are increasingly recognized overseas.</p><p><b>HKEx has welcomed 6 SPAC submissions</b></p><p>According to Wind statistics, since 2022, six SPACs have submitted forms for listing on the Hong Kong Stock Exchange. Among them, in February there were Ace Eight Acquisition Corporation (Ace Eight) and Vision Deal HK Acquisition Corp (Vision Deal) Submit a form to apply for listing.</p><p>In addition, on January 17th, HKEx welcomed Aquila Acquisition (Aquila) to submit the form; On January 28th, Tiger Jade Acquisition (Tiger Jade) filed the HKEx; On January 31st, Trinity Acquisition (Trinity) and Interra Acquisition (Interra) filed the HKEx at the same time.</p><p>According to Wind, the six SPACs currently listed on the HKEx invest in different fields: Aquila plans to focus on companies with technology empowerment in \"new economy\" industries in Asia (especially China) (such as green energy, life sciences and advanced technology and manufacturing industries); Tiger Jade focuses on the healthcare industry; Trinity focuses on the global consumer sector.</p><p>Interra plans to invest<a href=\"https://laohu8.com/S/C76.SI\">Innovation and Technology</a>High-growth companies in the sectors of consumer and new retail, high-end manufacturing, healthcare and climate action; Ace Eight focuses on companies in the biotechnology and TMT industries in Asia.</p><p>From the perspective of sponsors, the sponsors of six SPACs are all from well-known institutions and individuals. For example, one of the sponsors of Aquila is CMB International Asset Management; Tiger Jade sponsors include Taixin Capital, a healthcare-focused private equity fund; Trinity Promoters Include Renowned Athletes<a href=\"https://laohu8.com/S/02331\">Li Ning</a>； Interra was initiated by Primavera Capital, ABC International Asset Management and other institutions.</p><p><b>Investment Opportunities and Risks of SPACs</b></p><p>A SPAC is a shell company where the purpose of an IPO is to acquire (i.e., a SPAC M&A transaction) a company (i.e., a SPAC M&A target) within a preset period of time after listing. Supported by the enormous liquidity of global central banks during the pandemic, the number of global SPAC IPOs has exploded in the past two years.</p><p><a href=\"https://laohu8.com/S/002736\">Guosen Securities</a>Said that the SPAC mechanism of Hong Kong stocks will be a major development opportunity for large domestic securities firms. Large securities firms have a complete range of business types and accumulated mature teams in all business lines. By creating SPACs, they can not only contribute to the development of the country's new economy, but also strengthen the application skills of comprehensive strength and consolidate their market position.</p><p>CDB Securities cautioned the risk that the SPAC model has policy dividends, and once the regulatory policy is tightened, this frenzy will suddenly cool down. It is difficult to say that there is no bubble in a capital market model whose prosperity is firmly controlled by regulatory policies, explodes in a short time, and suddenly cools down after being reminded by regulators to pay attention to risks.</p><p>From the perspective of specific investment strategy, CDB Securities said that SPAC share price is the largest increase from the announcement of the merger to the completion of the merger, and it can be treated as general secondary market investment after the merger is completed. Investors mainly take the announcement of mergers and acquisitions to the completion of mergers and acquisitions as the main investment period. If they want to obtain income during this period, they should buy when \"gossip\" and sell when \"the dust settles\".</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HKEx welcomes the 6th SPAC form submission! Which capital has entered the game?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHKEx welcomes the 6th SPAC form submission! Which capital has entered the game?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/99\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Wind万得 </p>\n<p class=\"h-time smaller\">2022-02-16 10:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The HKEx recently disclosed that the \"Special Purpose Acquisition Company\" (SPAC) Vision Deal was submitted to the main board of the HKEx for listing.<a href=\"https://laohu8.com/S/C\">Citigroup</a>And<a href=\"https://laohu8.com/S/00665\">Haitong International</a>Act as a joint sponsor.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Former CEO Wei Zhe, Deal Globe, Lou Lishu and Chuangfu Financing are the sponsors.</p><p><img src=\"https://static.tigerbbs.com/de7a7b5d0845bce6df8aca065ff9c141\" tg-width=\"796\" tg-height=\"659\" referrerpolicy=\"no-referrer\"/></p><p>(Image source: Vision Deal prospectus)</p><p>The prospectus shows that the company intends to focus on specializing in<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Automotive technology, and high-quality Chinese companies with supply chain and cross-border e-commerce capabilities that benefit from the upgrading trend of domestic consumption.</p><p><b>Former CEO of Alibaba as Promoter</b></p><p>According to the prospectus, the sponsors of Vision Deal are Wei Zhe, founder of Jiayu Capital and former CEO of Alibaba, Deal Globe, Lou Lishu and Wealth Creation Financing. 90% of the Class B shares of Vision Deal are held by Vision Deal Acquisition Sponsor LLC, which is owned as to 40% by VKC Management, 40% by Deal Globe and 20% by Lou Li Shu, respectively. VKC Management is an investment holding company wholly owned by Weizhe.</p><p>The remaining 10% of Vision Deal's Class B shares are held by Opus Vision SPAC Limited, an investment holding company wholly owned by Wealth Creation Capital.</p><p>From the background of the sponsor, Jiayu Capital, a private equity investment fund founded by Wei Zhe, focuses on new channels, B2B platforms/services/products, new consumption and new technologies empowered by China's internet industry, and as of December 31, 2021, its AUM reached US$2.2 billion. Some of its well-known investments in China over the past decade with the theme of consumption upgrading include:<a href=\"https://laohu8.com/S/09992\">Bubble Mart</a>、<a href=\"https://laohu8.com/S/06969\">Smol International</a>、<a href=\"https://laohu8.com/S/300866\">Anker Innovation</a>Etc.</p><p>Deal Globe is a member company of Yijie Group, a cross-border boutique investment bank; Lou has held various positions in private equity firms and investment banks, including the San Francisco-based<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Apax Partners in New York and Hillhouse Capital in Beijing; Fortune Capital provides a number of financial services and has successfully completed 46 initial public offerings and secondary offerings of listed companies and private companies with a total transaction size of approximately US$1.5 billion since its establishment.</p><p>According to the Vision Deal Prospectus, certain macroeconomic factors and industry trends will continue to support the smart vehicle technology market and consumption upgrade trend in China. Not only has China's economy experienced strong growth over the past decade, the relevant policies and technological advances are driving the growth of China's smart vehicle technology market. Furthermore, Vision Deal witnesses the rise of Chinese companies benefiting from China's vibrant consumer market. Supported by strong domestic supply chain capabilities, Chinese consumer goods companies are increasingly recognized overseas.</p><p><b>HKEx has welcomed 6 SPAC submissions</b></p><p>According to Wind statistics, since 2022, six SPACs have submitted forms for listing on the Hong Kong Stock Exchange. Among them, in February there were Ace Eight Acquisition Corporation (Ace Eight) and Vision Deal HK Acquisition Corp (Vision Deal) Submit a form to apply for listing.</p><p>In addition, on January 17th, HKEx welcomed Aquila Acquisition (Aquila) to submit the form; On January 28th, Tiger Jade Acquisition (Tiger Jade) filed the HKEx; On January 31st, Trinity Acquisition (Trinity) and Interra Acquisition (Interra) filed the HKEx at the same time.</p><p>According to Wind, the six SPACs currently listed on the HKEx invest in different fields: Aquila plans to focus on companies with technology empowerment in \"new economy\" industries in Asia (especially China) (such as green energy, life sciences and advanced technology and manufacturing industries); Tiger Jade focuses on the healthcare industry; Trinity focuses on the global consumer sector.</p><p>Interra plans to invest<a href=\"https://laohu8.com/S/C76.SI\">Innovation and Technology</a>High-growth companies in the sectors of consumer and new retail, high-end manufacturing, healthcare and climate action; Ace Eight focuses on companies in the biotechnology and TMT industries in Asia.</p><p>From the perspective of sponsors, the sponsors of six SPACs are all from well-known institutions and individuals. For example, one of the sponsors of Aquila is CMB International Asset Management; Tiger Jade sponsors include Taixin Capital, a healthcare-focused private equity fund; Trinity Promoters Include Renowned Athletes<a href=\"https://laohu8.com/S/02331\">Li Ning</a>； Interra was initiated by Primavera Capital, ABC International Asset Management and other institutions.</p><p><b>Investment Opportunities and Risks of SPACs</b></p><p>A SPAC is a shell company where the purpose of an IPO is to acquire (i.e., a SPAC M&A transaction) a company (i.e., a SPAC M&A target) within a preset period of time after listing. Supported by the enormous liquidity of global central banks during the pandemic, the number of global SPAC IPOs has exploded in the past two years.</p><p><a href=\"https://laohu8.com/S/002736\">Guosen Securities</a>Said that the SPAC mechanism of Hong Kong stocks will be a major development opportunity for large domestic securities firms. Large securities firms have a complete range of business types and accumulated mature teams in all business lines. By creating SPACs, they can not only contribute to the development of the country's new economy, but also strengthen the application skills of comprehensive strength and consolidate their market position.</p><p>CDB Securities cautioned the risk that the SPAC model has policy dividends, and once the regulatory policy is tightened, this frenzy will suddenly cool down. It is difficult to say that there is no bubble in a capital market model whose prosperity is firmly controlled by regulatory policies, explodes in a short time, and suddenly cools down after being reminded by regulators to pay attention to risks.</p><p>From the perspective of specific investment strategy, CDB Securities said that SPAC share price is the largest increase from the announcement of the merger to the completion of the merger, and it can be treated as general secondary market investment after the merger is completed. Investors mainly take the announcement of mergers and acquisitions to the completion of mergers and acquisitions as the main investment period. If they want to obtain income during this period, they should buy when \"gossip\" and sell when \"the dust settles\".</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1cb237e736a4e03c939622e7b71e8e7","relate_stocks":{"HSCEI":"国企指数","HSTECH":"恒生科技指数","HSI":"恒生指数","HSCCI":"红筹指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102305568","content_text":"港交所近日披露，“特殊目的收购公司”（SPAC）Vision Deal递表港交所主板上市，花旗及海通国际担任联席保荐人。阿里巴巴前CEO卫哲、Deal Globe、楼立枢及创富融资为发起人。（图片来源：Vision Deal招股书）招股书显示，公司拟重点关注专门从事智能汽车技术，及具备供应链及跨境电商能力、从国内消费升级趋势中受益的中国优质公司。阿里巴巴前CEO为发起人据招股书披露，Vision Deal发起人为嘉御资本创始人、阿里巴巴前CEO卫哲、Deal Globe、楼立枢及创富融资。Vision Deal B类股份的90%由Vision Deal Acquisition Sponsor LLC持有，后者分别由VKC Management、Deal Globe及楼立枢分别持有40%、40%及20%权益。VKC Management是卫哲全资拥有的投资控股公司。Vision Deal剩余10%的B类股份由Opus Vision SPAC Limited持有，该公司为创富融资全资拥有的投资控股公司。从发起人背景来看，卫哲创立的私募股权投资基金嘉御资本注于中国互联网行业赋能的新渠道、B2B平台╱服务╱产品、新消费及新技术，截至2021年12月31日，资产管理规模达到22亿美元。其过去十年间在中国进行的部分以消费升级为主题的知名投资包括：泡泡玛特、思摩尔国际、安克创新等。Deal Globe为跨境精品投行易界集团成员公司；楼立枢曾于私募股权公司及投资银行担任多个职务，包括旧金山的高盛、纽约的Apax Partners及北京的高瓴资本；创富融资提供多项金融服务，自成立以来已成功完成46项上市公司及私人公司的首次公开发售及二次发行交易，总交易规模约15亿美元。Vision Deal招股书显示，若干宏观经济因素及行业趋势将继续支撑中国智能汽车技术市场及消费升级趋势。中国经济不仅于过去十年间强劲增长，相关政策及技术进步正推动中国智能汽车技术市场的增长。此外，Vision Deal见证受益于中国充满活力消费市场的中国公司的崛起。在强大的国内供应链能力支持下，中国消费品公司在海外越来越受认可。港交所已迎接6只SPAC递表据Wind统计，2022年以来，已经有6家SPAC递表港交所上市。其中，2月分别有Ace Eight Acquisition Corporation（Ace Eight）和Vision Deal HK Acquisition Corp （Vision Deal）递表申请上市。此外，1月17日，港交所迎接Aquila Acquisition（Aquila）递表；1月28日，Tiger Jade Acquisition（Tiger Jade）递表港交所；1月31日，Trinity Acquisition（Trinity）及Interra Acquisition（Interra）同时递表港交所。据Wind梳理，目前递表港交所上市的6只SPAC分别投资于不同领域：Aquila计划重点关注亚洲（特别是中国）“新经济”行业（例如绿色能源、生命科学及先进科技与制造行业）内有科技赋能的公司；Tiger Jade专注于医疗保健行业；Trinity关注全球性消费领域。Interra计划投资创新科技、消费及新零售、高端制造、医疗健康及气候行动等领域的高增长型公司；Ace Eight则关注亚洲经营生物技术及TMT行业的公司。而从发起人来看，6只SPAC的发起人均来自知名机构和个人。例如，Aquila发起人之一为招银国际资产管理；Tiger Jade发起人包括专注医疗保健的私募股权基金泰欣资本；Trinity发起人包括知名运动员李宁；而Interra则由春华资本、农银国际资管等机构发起。SPAC的投资机遇与风险SPAC是一种空壳公司，IPO的目的是在上市后一段预设时间内收购（即SPAC并购交易）一家公司（即SPAC并购目标）。在疫情期间全球央行的天量流动性支持下，全球SPAC IPO数量在过去两年迎来井喷式爆发。国信证券表示，港股SPAC 机制将是国内大型券商的重大发展机遇。大型券商的业务种类齐全，在各条业务线都积淀了成熟的团队，通过创设SPAC，不仅可以为国家新经济发展做出贡献，也可以强化综合实力的运用技巧，巩固市场地位。国开证券则提示风险称，SPAC模式是有政策红利的，当监管政策一旦收紧，这种狂热将骤然降温。一种繁荣景气程度被监管政策牢牢控制、短期内井喷式爆发、又被监管提示注意风险后骤然降温的资本市场模式，我们很难说它不存在泡沫。从具体投资策略来看，国开证券表示，SPAC 股价在宣布并购到完成并购期间是涨幅最大的区间，并购完成后就可按照一般二级市场投资对待。投资者主要以宣布并购到并购完成作为主要投资期间，欲获取此期间收益就要买在“流言蜚语”时，卖在“尘埃落定”时。","news_type":1,"symbols_score_info":{"HSTECH":0.9,"HSCCI":0.9,"HSI":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":4715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9090561807,"gmtCreate":1643234724753,"gmtModify":1676533787211,"author":{"id":"3570833668911971","authorId":"3570833668911971","name":"Li Guixi","avatar":"https://static.tigerbbs.com/d47f140f55f4badb19ca06d16064de5b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570833668911971","idStr":"3570833668911971"},"themes":[],"title":"","htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090561807","repostId":"1147036450","repostType":4,"repost":{"id":"1147036450","kind":"news","weMediaInfo":{"introduction":"中国大陆领先的金融数据、信息和软件服务企业，总部位于上海陆家嘴金融中心。","home_visible":1,"media_name":"Wind万得","id":"99","head_image":"https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68"},"pubTimestamp":1643210255,"share":"https://ttm.financial/m/news/1147036450?lang=en_US&edition=fundamental","pubTime":"2022-01-26 23:17","market":"us","language":"zh","title":"The Nasdaq rose more than 2%! Markets hold their breath as they await Federal Reserve Chairman Powell's press conference.","url":"https://stock-news.laohu8.com/highlight/detail?id=1147036450","media":"Wind万得","summary":"周三，投资者等待美联储（Federal Reserve）会议结果，美国股市开盘上涨，此前市场又经历一个疯狂的交易日。美联储本次会议预计将为2022年定下基调。道琼斯工业指数上涨约308点，涨幅0.9%","content":"<p><html><head></head><body>U.S. stocks opened higher on Wednesday as investors awaited the outcome of the Federal Reserve meeting, following another frenzied trading day. The Federal Reserve's meeting is expected to set the tone for 2022.</p><p>The Dow Jones Industrial Average rose about 308 points, or 0.9%. The S&P 500 rose 1.5%. The Nasdaq Composite Index rose 2.5%.</p><p>Luca Paolini, chief strategist at Pictet Asset Management, said: “Today’s focus will be on the Federal Reserve, and the tone of the press conference is key. One might think that the Fed might soften its rhetoric given market volatility and geopolitical tensions.”</p><p>The VIX index, which measures expected volatility, fell 2.8 points to 28.4, and is sometimes called a panic indicator on Wall Street. The index rose this week as the stock market fell.</p><p>The Federal Reserve will conclude its two-day policy meeting on Wednesday and release a statement in the afternoon local time. The Federal Reserve is not expected to make any policy adjustments, but investors will be looking for clues about when and to what extent the Fed will rate hike later this year. Market participants will also be looking for hints that the Federal Reserve will take further steps to unwind aid during the pandemic.</p><p>In March 2020, when the pandemic broke out globally, the Federal Reserve lowered interest rates to near zero. In September 2020, Federal Reserve officials said they would keep interest rates unchanged until inflation expectations moderated above 2% and the labor market returned to levels consistent with full employment.</p><p>The Federal Reserve could use its post-meeting statement on Wednesday to announce that it has essentially achieved both goals. According to the Federal Reserve's preferred indicators, excluding the volatile food and energy categories, inflation surged to 4.7% in November last year compared to the same period last year, easily exceeding the first target. Most Federal Reserve officials said that the unemployment rate fell sharply in the second half of last year (to 3.9% in December), coupled with strong wage growth, almost achieved the second target.</p><p>Such an acknowledgment would enable the Federal Reserve to send its clearest signal yet, indicating that it is prepared to rate hike by 25 basis points at its meeting on March 15-16.</p><p>Powell may come under pressure on the inflation outlook, which could affect the number of Federal Reserve rate hike. He presented his latest ideas when he testified before Congress in January. He said that high inflation is due to an imbalance between supply and demand.</p><p>Market strategists believe that recent market volatility is unlikely to prevent the Federal Reserve from rate hike at most four times this year. On Tuesday, the Dow Jones Industrial Average closed down 66 points, or 0.2%. A day earlier, the Dow Jones Industrial Average rebounded from a 1,115-point drop and rose slightly.</p><p>The S&P 500 and Nasdaq Composite also closed well below their intraday lows on Tuesday, but still fell 1.2% and 2.3%, respectively.</p><p><a href=\"https://laohu8.com/S/BLK\">BlackRock</a>\"We are in a tight environment,\" said Rick Rieder of BlackRock. \"Interest rates will trend upward, and volatility will be higher.\"</p><p>U.S. Treasury Bond yields surged at the beginning of the year on expectations that the Federal Reserve would tighten monetary policy. On Wednesday, the benchmark 10-year Treasury Bond yield was around 1.78%.</p><p>Regarding individual stocks,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Technology stocks rebounded in early trading after the earnings report was released. Microsoft's stock price rose 5.5% after it released better-than-expected quarterly revenue guidance.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(Apple),<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>(Amazon), Netflix and<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>(Nvidia) stock prices rose across the board.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Shares rose 4.2% as the electric vehicle company is scheduled to release its earnings report after the market closes.</p><p>Boeing's fourth-quarter results fell 2% short of expectations, with pre-tax spending on the 787 Dreamliner program reaching $3.5 billion. Moderna rose 4.3% in early trading, rebounding after eight consecutive days of declines.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Nasdaq rose more than 2%! Markets hold their breath as they await Federal Reserve Chairman Powell's press conference.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Nasdaq rose more than 2%! Markets hold their breath as they await Federal Reserve Chairman Powell's press conference.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/99\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Wind万得 </p>\n<p class=\"h-time smaller\">2022-01-26 23:17</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>U.S. stocks opened higher on Wednesday as investors awaited the outcome of the Federal Reserve meeting, following another frenzied trading day. The Federal Reserve's meeting is expected to set the tone for 2022.</p><p>The Dow Jones Industrial Average rose about 308 points, or 0.9%. The S&P 500 rose 1.5%. The Nasdaq Composite Index rose 2.5%.</p><p>Luca Paolini, chief strategist at Pictet Asset Management, said: “Today’s focus will be on the Federal Reserve, and the tone of the press conference is key. One might think that the Fed might soften its rhetoric given market volatility and geopolitical tensions.”</p><p>The VIX index, which measures expected volatility, fell 2.8 points to 28.4, and is sometimes called a panic indicator on Wall Street. The index rose this week as the stock market fell.</p><p>The Federal Reserve will conclude its two-day policy meeting on Wednesday and release a statement in the afternoon local time. The Federal Reserve is not expected to make any policy adjustments, but investors will be looking for clues about when and to what extent the Fed will rate hike later this year. Market participants will also be looking for hints that the Federal Reserve will take further steps to unwind aid during the pandemic.</p><p>In March 2020, when the pandemic broke out globally, the Federal Reserve lowered interest rates to near zero. In September 2020, Federal Reserve officials said they would keep interest rates unchanged until inflation expectations moderated above 2% and the labor market returned to levels consistent with full employment.</p><p>The Federal Reserve could use its post-meeting statement on Wednesday to announce that it has essentially achieved both goals. According to the Federal Reserve's preferred indicators, excluding the volatile food and energy categories, inflation surged to 4.7% in November last year compared to the same period last year, easily exceeding the first target. Most Federal Reserve officials said that the unemployment rate fell sharply in the second half of last year (to 3.9% in December), coupled with strong wage growth, almost achieved the second target.</p><p>Such an acknowledgment would enable the Federal Reserve to send its clearest signal yet, indicating that it is prepared to rate hike by 25 basis points at its meeting on March 15-16.</p><p>Powell may come under pressure on the inflation outlook, which could affect the number of Federal Reserve rate hike. He presented his latest ideas when he testified before Congress in January. He said that high inflation is due to an imbalance between supply and demand.</p><p>Market strategists believe that recent market volatility is unlikely to prevent the Federal Reserve from rate hike at most four times this year. On Tuesday, the Dow Jones Industrial Average closed down 66 points, or 0.2%. A day earlier, the Dow Jones Industrial Average rebounded from a 1,115-point drop and rose slightly.</p><p>The S&P 500 and Nasdaq Composite also closed well below their intraday lows on Tuesday, but still fell 1.2% and 2.3%, respectively.</p><p><a href=\"https://laohu8.com/S/BLK\">BlackRock</a>\"We are in a tight environment,\" said Rick Rieder of BlackRock. \"Interest rates will trend upward, and volatility will be higher.\"</p><p>U.S. Treasury Bond yields surged at the beginning of the year on expectations that the Federal Reserve would tighten monetary policy. On Wednesday, the benchmark 10-year Treasury Bond yield was around 1.78%.</p><p>Regarding individual stocks,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Technology stocks rebounded in early trading after the earnings report was released. Microsoft's stock price rose 5.5% after it released better-than-expected quarterly revenue guidance.<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(Apple),<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>(Amazon), Netflix and<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>(Nvidia) stock prices rose across the board.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Shares rose 4.2% as the electric vehicle company is scheduled to release its earnings report after the market closes.</p><p>Boeing's fourth-quarter results fell 2% short of expectations, with pre-tax spending on the 787 Dreamliner program reaching $3.5 billion. Moderna rose 4.3% in early trading, rebounding after eight consecutive days of declines.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55eb327f580527889cf30bafa92692ae","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147036450","content_text":"周三，投资者等待美联储（Federal Reserve）会议结果，美国股市开盘上涨，此前市场又经历一个疯狂的交易日。美联储本次会议预计将为2022年定下基调。道琼斯工业指数上涨约308点，涨幅0.9%。标准普尔500指数上涨1.5%。纳斯达克综合指数上涨2.5%。Pictet Asset Management首席策略师卢卡•保里尼（Luca Paolini）表示：“今天的焦点将是美联储，而新闻发布会的基调是重点。人们可能会认为，鉴于市场动荡和地缘政治紧张局势，美联储可能会缓和措辞。”衡量预期波动率的VIX指数下降2.8点，至28.4点，该指数有时被称为华尔街的恐慌指标。本周随着股市下跌，该指数上升。美联储将在周三结束为期两天的政策会议，并在当地时间下午发表声明。美联储预计不会做出任何政策调整，但投资者将寻找今年晚些时候美联储将在何时以及在多大程度上加息线索。市场参与者还将寻找美联储将采取进一步措施解除疫情时期援助的暗示。2020年3月，当疫情在全球爆发时，美联储将利率降至接近零的水平。2020年9月，美联储官员表示，他们将维持利率不变，直到通胀预期温和超过2%，直到劳动力市场回到与充分就业一致的水平。美联储可以利用周三会后声明宣布，它基本上实现这两个目标。按照美联储偏爱的指标，剔除波动较大的食品和能源类别，去年11月通胀率较上年同期飙升至4.7%，轻松超过第一个目标。大多数美联储官员表示，去年下半年失业率大幅下降（12月降至3.9%），再加上工资的强劲增长，几乎实现第二个目标。这样的承认将使美联储能够发出迄今最明确的信号，表明它准备在3月15日至16日的会议上加息25个基点。鲍威尔可能会在通胀前景问题上受到压力，这可能会影响美联储加息次数。他1月在国会作证时提出自己最新想法。他说，通货膨胀居高不下是因为供需失衡。市场策略师认为，近期市场波动不太可能阻止美联储今年加息至多四次。周二，道琼斯工业平均指数收盘下跌66点，跌幅0.2%。一天前，道琼斯工业指数从1115点下跌中反弹，小幅上涨。标准普尔500指数(S&P 500)和纳斯达克综合指数(Nasdaq Composite)周二收盘时也远低于盘中低点，但仍分别下跌1.2%和2.3%。贝莱德(BlackRock)的瑞德(Rick Rieder)表示:“我们正处于一个紧缩环境中。”“利率将呈上升趋势，波动性将会更高。”由于预期美联储将收紧货币政策，美国国债收益率在年初大幅飙升。周三基准的10年期国债收益率在1.78%左右。个股方面，微软发布财报后，科技股在早盘交易中反弹。微软发布好于预期的季度营收指引后，股价上涨5.5%。苹果(Apple)、亚马逊(Amazon)、Netflix和英伟达(Nvidia)股价纷纷走高。特斯拉股价上涨4.2%，这家电动汽车公司定于收盘后公布财报。波音公司去年四季度业绩不及预期，跌2%，787梦想飞机(787 Dreamliner)项目税前支出为35亿美元。Moderna在早盘交易中上涨4.3%，在连续8天下跌后出现反弹。","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005958125,"gmtCreate":1642153982464,"gmtModify":1676533687205,"author":{"id":"3570833668911971","authorId":"3570833668911971","name":"Li Guixi","avatar":"https://static.tigerbbs.com/d47f140f55f4badb19ca06d16064de5b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570833668911971","idStr":"3570833668911971"},"themes":[],"title":"","htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005958125","repostId":"1106363843","repostType":4,"repost":{"id":"1106363843","kind":"news","pubTimestamp":1642153329,"share":"https://ttm.financial/m/news/1106363843?lang=en_US&edition=fundamental","pubTime":"2022-01-14 17:42","market":"sh","language":"zh","title":"Are capitalists tired of hearing the \"metaverse\" story of Chinese Online?","url":"https://stock-news.laohu8.com/highlight/detail?id=1106363843","media":"锌刻度","summary":"“元宇宙”罩不住中文在线了？被誉为“元宇宙”龙头之一的中文在线，这下尴尬了。2022年1月11日，中国移动通信联合会元宇宙产业委员会揭牌，接纳涉足“元宇宙”的8家上市公司，包括中青宝、天下秀、风语筑等","content":"<p><html><head></head><body><b>\"metaverse\" can't cover it.<a href=\"https://laohu8.com/S/300364\">Chinese Online</a>Yes?</b>ChineseOnline, hailed as one of the leading companies in \"metaverse,\" is now in an awkward position.</p><p>January 11, 2022,<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>The metaverse Industry Committee of the China Communications Federation was inaugurated, accepting eight listed companies involved in \"metaverse,\" including...<a href=\"https://laohu8.com/S/300052\">Zhongqingbao</a>、<a href=\"https://laohu8.com/S/600556\">World Show</a>、<a href=\"https://laohu8.com/S/603466\">Wind Whispers</a>While waiting for the leading company in the A-share \"metaverse\" concept, Chinese Online was nowhere to be seen.</p><p>Even more subtly, ChineseOnline's performance, despite a significant profit forecast, continued to plummet.</p><p>Recently, ChineseAll released its 2021 annual performance forecast, expecting a profit of 90 million to 110 million yuan for the whole of 2021, an increase of 84% to 125% compared with 48.9231 million yuan in the previous fiscal year. The company's \"Literature+\" business revenue increased, resulting in a significant increase in net profit compared with the same period of the previous year.</p><p>Unexpectedly, the stock price fell for four consecutive days after the forecast was released, with the first trading day plummeting by 7.42%, the second trading day plummeting by 8.33%, and the third trading day plummeting by 8.11% shortly after the market opened.</p><p>What is the logic behind ChineseAll releasing positive earnings early on, but instead of rising, it fell? How effective is it to get involved in \"metaverse\"? With the online literature market fiercely competitive, what are the chances of Chinese Online winning?</p><p><b>Riding the wave of \"metaverse\" has a hidden meaning behind it.</b></p><p>Generally speaking, the earlier the annual earnings forecast and the greater the increase in net profit, the easier it is to attract the attention of funds, and many stocks with significant profit forecasts have performed quite strongly.</p><p>As a result, ChineseOnline's performance has become particularly striking.</p><p>\"Previously, ChineseAll was busy riding the wave of the 'metaverse' trend, and its stock price rose too quickly, which may be related to the fact that its expected profits fell instead of rising,\" said a private equity professional.</p><p>The private equity professional further stated,<b>When it comes to ways to ride the wave of \"metaverse,\" Chinese Online claims second place, but no one dares to claim first place.</b>。</p><p>For a considerable period of time, ChineseAll's stock price hovered between 5 and 7 yuan until the actual controller made a significant move, which caused the stock price to fluctuate.</p><p>According to data from Aiqicha, Tong Zhilei, chairman of ChineseAll, is the largest shareholder and actual controller of ChineseAll, holding 13.71% of the shares.</p><p><img src=\"https://static.tigerbbs.com/a8e2f16a00cdbfceee965b0b7a7c0a7e\" tg-width=\"733\" tg-height=\"474\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Aiqicha</p><p>On October 14, 2021, Tong Zhilei announced his intention to transfer no more than 3% of the company's total share capital to Guangzhou Xuanyuan Investment Management Co., Ltd.—Xuanyuan Yuanding No. 6 Private Equity Investment Fund through block trading. Tong Zhilei was the sole holder of Xuanyuan Yuanding No. 6 Private Equity Investment Fund.</p><p>It's important to note that this isn't a simple left-handed transfer; there's a hidden meaning behind it.</p><p>According to the relevant regulations of the China Securities Regulatory Commission, shareholders holding more than 5% of the shares must announce the reduction of their holdings in advance, while those holding less than 5% of the shares do not need to comply with the above regulations. This means that the reduction of holdings is more covert.</p><p>Following this \"coincidence,\" Chinese Online has been frequently moving closer to \"metaverse.\"</p><p>For example, on October 19, the company responded to investors: \"We can continue to provide metaverse with a massive amount of IP and enrich the construction of the virtual world. The company is actively researching related directions.\"</p><p>For example, on November 9th, the company responded to investors: \"The company is optimistic about the future development of metaverse. metaverse is the company's long-term development strategy. The company has established a team and invested relevant resources. Currently, it has applied for trademarks such as Chinese metaverse, 17 metaverse, IP metaverse, and April Tianyuan Universe.\" Even more impressively, it launched the \"Chinese metaverse Global Essay Contest,\" with a top prize of 1 million yuan, pioneering the online literature industry's foray into metaverse.</p><p>Against this backdrop, enthusiastic funds poured into ChineseAll.</p><p>ChineseAll's stock price also rose like a \"rocket,\" from 5.59 yuan on October 14, 2021, to 19.88 yuan on December 13, 2021, an increase of 225.64%, making it the leading stock in the metaverse concept, alongside Zhongqingbao.</p><p>After the stock price rose, a reduction in holdings followed.</p><p>The eighth largest shareholder, Qidi Huachuang, announced a complete reduction of 7,761,368 shares, while Qidi Incubator announced a complete reduction of 3,776,625 shares, both of which withdrew from the list of shareholders of Chinese Online.</p><p>Therefore,<b>It's hard to say for sure how much spark ChineseOnline and \"metaverse\" can create, but it's obvious that the relevant shareholders have made a fortune from it.</b></p><p><b>Performance has rebounded, but it has absolutely nothing to do with metaverse.</b></p><p>In short, the bubble coupled with shareholder reductions became the key to the sharp drop in Chinese Online's stock price, and even with the significant profit forecast, it was not enough.</p><p>In addition,<b>The profitability of ChineseAll is also questionable.</b></p><p>ChineseAll also forecasted: \"During the (2021) reporting period, non-recurring gains and losses are expected to have an impact of approximately RMB 84 million on the current net profit.\"</p><p>Non-recurring gains and losses, namely non-core business income, such as gains from the sale of equity or gains from financial investments, are characterized by uncertainty, high volatility, and non-sustainability.</p><p>In other words, ChineseAll's net profit excluding non-recurring items (main business) in 2021 was only 6 million to 26 million yuan.</p><p>According to financial reports, ChineseAll's net profit excluding non-recurring items was RMB 45.63 million, RMB -1.966 billion, RMB -645 million, RMB -46.4075 million, and RMB 12.84 million in the first three quarters of 2017, respectively. This means that ChineseAll's profitability has not yet recovered to the level of 2017.</p><p><img src=\"https://static.tigerbbs.com/d215fbe6a66d6394a84a4e211ed63cb6\" tg-width=\"704\" tg-height=\"465\" referrerpolicy=\"no-referrer\"/></p><p>Profitability has not yet fully recovered.</p><p><b>This is largely due to its failure to cross over into other industries.</b></p><p>According to publicly available information, ChineseAll owns original online literature platforms such as 17K Novel Network, April Sky Novel Network, and Tangyuan Creation, acting as a digital content provider.</p><p>This industry was not profitable, and its profitability did not change much from 2011 to 2016. Therefore, in 2017, it spent 1.472 billion yuan at a premium of 5.26 times to acquire Chenzhike, entering the gaming field in search of a second curve.</p><p>To everyone's surprise, Chenzhike, which focuses on anime and manga games, was not a good match.</p><p>From 2018 to 2020, Chenzhike's net profit was -89.0393 million yuan, -279 million yuan, and -13.1342 million yuan, respectively. Instead of becoming a new growth engine, it became a burden on ChineseAll, forcing it to undergo huge goodwill impairment, thereby affecting its profitability.</p><p><b>So, will venturing into \"metaverse\" now repeat the same mistakes?</b></p><p>An industry insider told Zinc Scale: \"ChineseOnline's actual business scope remains unchanged, and the sources of its operating revenue and net profit remain unchanged. Being associated with 'metaverse' is nothing more than new wine in an old bottle, which has long been questioned by the Shenzhen Stock Exchange.\"</p><p>The industry insider further stated that ChineseAll's approach to entering the \"metaverse\" market has no advantages: online essay contests have no technical barriers and are extremely easy to imitate, and the manuscripts in the essay contest do not require exclusivity. It is still early days to adapt online novels into \"metaverse\" stories and film and television works, since the prototype of \"metaverse\" has not yet been determined, and the industry is currently mainly focused on the technical aspects.</p><p>\"There is uncertainty as to whether the application terminals involved in the metaverse are widespread, whether they can truly establish a connection between the virtual and the real world, and whether there are real implementation scenarios.\" ChineseAll also admitted that there have been no major changes in the fundamentals. \"The company has already made a layout for metaverse, but it is still in the exploratory and trial stage. There is considerable uncertainty about the future implementation progress of the project and whether it can achieve the results expected by the company, and it will not have a significant impact on the company's short-term operating performance.\"</p><p>In other words,<b>The story of \"metaverse\" on Chinese Online is not as appealing as it sounds.</b></p><p><b>Fighting on two fronts, how can Chinese Online break through?</b></p><p>Leaving aside \"metaverse,\" the competitive landscape for ChineseAll is not optimistic.</p><p>On the one hand,<b>The rise of free online literature has broken the pattern dominated by paid reading, and the competition for free paid reading has become fierce.</b></p><p>Since the second half of 2018, mobile reading apps such as Qimao Novels, Tomato Novels, Shuqi Novels, and Fit Novels, which claim to offer free reading, have intervened. With a large amount of free content and cash reading incentives, they have \"paved the way with money\" to reshape the market that was once dominated by piracy, turning the background of free novels from gray to white.</p><p>According to QuestMobile's 2020<a href=\"https://laohu8.com/S/600941\">China Mobile</a>According to the \"Internet Annual Report Part 2\", in December 2020, the number of users of free reading apps reached 144 million, an increase of 22% compared with 118 million in the same period of the previous year. The situation is exactly the opposite for paid online literature apps, with monthly active users in the industry declining from 254 million in December 2019 to 219 million, a drop of 13.7%. As a member of the paid camp, ChineseOnline has naturally also been impacted.</p><p>Fortunately, ChineseAll and Qimao Novels have partnered on digital content licensing, which has indirectly benefited from the growth of free novels to some extent.</p><p>On the other hand,<b>Compared to its target<a href=\"https://laohu8.com/S/603533\">iReader Technology</a>Not to be underestimated, the two sides are engaged in a fierce battle.</b></p><p>According to iReader Technology's financial report, its operating revenue for the first three quarters of 2021 was 1.597 billion yuan, a year-on-year increase of 6.81%; Net profit was 149 million yuan, a year-on-year decrease of 10.46%; Net profit excluding non-recurring items was 147 million yuan, a year-on-year decrease of 9.77%.</p><p>This means that iReader Technology's operating revenue, net profit, and net profit excluding non-recurring items are all significantly higher than ChineseAll, although the latter has a greater advantage when going global.</p><p>ChineseAll has a relatively rich overseas product line, with multiple platforms such as Chapters, Screen, Spotlight, and Kiss. In the first half of 2021, its operating revenue was 334 million yuan, while iReader Technology mainly relies on the overseas version of iReader, with operating revenue of 148 million yuan in the first half of 2021.</p><p><img src=\"https://static.tigerbbs.com/09710d821259c30452d6462bbbd00032\" tg-width=\"675\" tg-height=\"485\" referrerpolicy=\"no-referrer\"/></p><p>Chinese online popularity chart</p><p>It's important to note that both sides are backed by numerous industry giants.</p><p><a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/00700\">Tencent</a>with<a href=\"https://laohu8.com/S/00772\">China Literature Group</a>As shareholders of ChineseAll, ByteDance and Bilibili have invested in iReader Technology. With the support of these giants, this competition is unlikely to be over in the short term.</p><p>In conclusion,<b>As competition in the online literature field intensifies, ChineseAll is focusing its energy on \"metaverse.\" Whether this is correct or not remains to be seen. The only certainty is that without performance support, even the best concept is a tree without roots.</b></p><p>After all, it's fleeting and can't last.</p><p></body></html></p>","source":"lsy1568158634801","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Are capitalists tired of hearing the \"metaverse\" story of Chinese Online?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAre capitalists tired of hearing the \"metaverse\" story of Chinese Online?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">锌刻度</strong><span class=\"h-time small\">2022-01-14 17:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>\"metaverse\" can't cover it.<a href=\"https://laohu8.com/S/300364\">Chinese Online</a>Yes?</b>ChineseOnline, hailed as one of the leading companies in \"metaverse,\" is now in an awkward position.</p><p>January 11, 2022,<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>The metaverse Industry Committee of the China Communications Federation was inaugurated, accepting eight listed companies involved in \"metaverse,\" including...<a href=\"https://laohu8.com/S/300052\">Zhongqingbao</a>、<a href=\"https://laohu8.com/S/600556\">World Show</a>、<a href=\"https://laohu8.com/S/603466\">Wind Whispers</a>While waiting for the leading company in the A-share \"metaverse\" concept, Chinese Online was nowhere to be seen.</p><p>Even more subtly, ChineseOnline's performance, despite a significant profit forecast, continued to plummet.</p><p>Recently, ChineseAll released its 2021 annual performance forecast, expecting a profit of 90 million to 110 million yuan for the whole of 2021, an increase of 84% to 125% compared with 48.9231 million yuan in the previous fiscal year. The company's \"Literature+\" business revenue increased, resulting in a significant increase in net profit compared with the same period of the previous year.</p><p>Unexpectedly, the stock price fell for four consecutive days after the forecast was released, with the first trading day plummeting by 7.42%, the second trading day plummeting by 8.33%, and the third trading day plummeting by 8.11% shortly after the market opened.</p><p>What is the logic behind ChineseAll releasing positive earnings early on, but instead of rising, it fell? How effective is it to get involved in \"metaverse\"? With the online literature market fiercely competitive, what are the chances of Chinese Online winning?</p><p><b>Riding the wave of \"metaverse\" has a hidden meaning behind it.</b></p><p>Generally speaking, the earlier the annual earnings forecast and the greater the increase in net profit, the easier it is to attract the attention of funds, and many stocks with significant profit forecasts have performed quite strongly.</p><p>As a result, ChineseOnline's performance has become particularly striking.</p><p>\"Previously, ChineseAll was busy riding the wave of the 'metaverse' trend, and its stock price rose too quickly, which may be related to the fact that its expected profits fell instead of rising,\" said a private equity professional.</p><p>The private equity professional further stated,<b>When it comes to ways to ride the wave of \"metaverse,\" Chinese Online claims second place, but no one dares to claim first place.</b>。</p><p>For a considerable period of time, ChineseAll's stock price hovered between 5 and 7 yuan until the actual controller made a significant move, which caused the stock price to fluctuate.</p><p>According to data from Aiqicha, Tong Zhilei, chairman of ChineseAll, is the largest shareholder and actual controller of ChineseAll, holding 13.71% of the shares.</p><p><img src=\"https://static.tigerbbs.com/a8e2f16a00cdbfceee965b0b7a7c0a7e\" tg-width=\"733\" tg-height=\"474\" referrerpolicy=\"no-referrer\"/></p><p>Image source: Aiqicha</p><p>On October 14, 2021, Tong Zhilei announced his intention to transfer no more than 3% of the company's total share capital to Guangzhou Xuanyuan Investment Management Co., Ltd.—Xuanyuan Yuanding No. 6 Private Equity Investment Fund through block trading. Tong Zhilei was the sole holder of Xuanyuan Yuanding No. 6 Private Equity Investment Fund.</p><p>It's important to note that this isn't a simple left-handed transfer; there's a hidden meaning behind it.</p><p>According to the relevant regulations of the China Securities Regulatory Commission, shareholders holding more than 5% of the shares must announce the reduction of their holdings in advance, while those holding less than 5% of the shares do not need to comply with the above regulations. This means that the reduction of holdings is more covert.</p><p>Following this \"coincidence,\" Chinese Online has been frequently moving closer to \"metaverse.\"</p><p>For example, on October 19, the company responded to investors: \"We can continue to provide metaverse with a massive amount of IP and enrich the construction of the virtual world. The company is actively researching related directions.\"</p><p>For example, on November 9th, the company responded to investors: \"The company is optimistic about the future development of metaverse. metaverse is the company's long-term development strategy. The company has established a team and invested relevant resources. Currently, it has applied for trademarks such as Chinese metaverse, 17 metaverse, IP metaverse, and April Tianyuan Universe.\" Even more impressively, it launched the \"Chinese metaverse Global Essay Contest,\" with a top prize of 1 million yuan, pioneering the online literature industry's foray into metaverse.</p><p>Against this backdrop, enthusiastic funds poured into ChineseAll.</p><p>ChineseAll's stock price also rose like a \"rocket,\" from 5.59 yuan on October 14, 2021, to 19.88 yuan on December 13, 2021, an increase of 225.64%, making it the leading stock in the metaverse concept, alongside Zhongqingbao.</p><p>After the stock price rose, a reduction in holdings followed.</p><p>The eighth largest shareholder, Qidi Huachuang, announced a complete reduction of 7,761,368 shares, while Qidi Incubator announced a complete reduction of 3,776,625 shares, both of which withdrew from the list of shareholders of Chinese Online.</p><p>Therefore,<b>It's hard to say for sure how much spark ChineseOnline and \"metaverse\" can create, but it's obvious that the relevant shareholders have made a fortune from it.</b></p><p><b>Performance has rebounded, but it has absolutely nothing to do with metaverse.</b></p><p>In short, the bubble coupled with shareholder reductions became the key to the sharp drop in Chinese Online's stock price, and even with the significant profit forecast, it was not enough.</p><p>In addition,<b>The profitability of ChineseAll is also questionable.</b></p><p>ChineseAll also forecasted: \"During the (2021) reporting period, non-recurring gains and losses are expected to have an impact of approximately RMB 84 million on the current net profit.\"</p><p>Non-recurring gains and losses, namely non-core business income, such as gains from the sale of equity or gains from financial investments, are characterized by uncertainty, high volatility, and non-sustainability.</p><p>In other words, ChineseAll's net profit excluding non-recurring items (main business) in 2021 was only 6 million to 26 million yuan.</p><p>According to financial reports, ChineseAll's net profit excluding non-recurring items was RMB 45.63 million, RMB -1.966 billion, RMB -645 million, RMB -46.4075 million, and RMB 12.84 million in the first three quarters of 2017, respectively. This means that ChineseAll's profitability has not yet recovered to the level of 2017.</p><p><img src=\"https://static.tigerbbs.com/d215fbe6a66d6394a84a4e211ed63cb6\" tg-width=\"704\" tg-height=\"465\" referrerpolicy=\"no-referrer\"/></p><p>Profitability has not yet fully recovered.</p><p><b>This is largely due to its failure to cross over into other industries.</b></p><p>According to publicly available information, ChineseAll owns original online literature platforms such as 17K Novel Network, April Sky Novel Network, and Tangyuan Creation, acting as a digital content provider.</p><p>This industry was not profitable, and its profitability did not change much from 2011 to 2016. Therefore, in 2017, it spent 1.472 billion yuan at a premium of 5.26 times to acquire Chenzhike, entering the gaming field in search of a second curve.</p><p>To everyone's surprise, Chenzhike, which focuses on anime and manga games, was not a good match.</p><p>From 2018 to 2020, Chenzhike's net profit was -89.0393 million yuan, -279 million yuan, and -13.1342 million yuan, respectively. Instead of becoming a new growth engine, it became a burden on ChineseAll, forcing it to undergo huge goodwill impairment, thereby affecting its profitability.</p><p><b>So, will venturing into \"metaverse\" now repeat the same mistakes?</b></p><p>An industry insider told Zinc Scale: \"ChineseOnline's actual business scope remains unchanged, and the sources of its operating revenue and net profit remain unchanged. Being associated with 'metaverse' is nothing more than new wine in an old bottle, which has long been questioned by the Shenzhen Stock Exchange.\"</p><p>The industry insider further stated that ChineseAll's approach to entering the \"metaverse\" market has no advantages: online essay contests have no technical barriers and are extremely easy to imitate, and the manuscripts in the essay contest do not require exclusivity. It is still early days to adapt online novels into \"metaverse\" stories and film and television works, since the prototype of \"metaverse\" has not yet been determined, and the industry is currently mainly focused on the technical aspects.</p><p>\"There is uncertainty as to whether the application terminals involved in the metaverse are widespread, whether they can truly establish a connection between the virtual and the real world, and whether there are real implementation scenarios.\" ChineseAll also admitted that there have been no major changes in the fundamentals. \"The company has already made a layout for metaverse, but it is still in the exploratory and trial stage. There is considerable uncertainty about the future implementation progress of the project and whether it can achieve the results expected by the company, and it will not have a significant impact on the company's short-term operating performance.\"</p><p>In other words,<b>The story of \"metaverse\" on Chinese Online is not as appealing as it sounds.</b></p><p><b>Fighting on two fronts, how can Chinese Online break through?</b></p><p>Leaving aside \"metaverse,\" the competitive landscape for ChineseAll is not optimistic.</p><p>On the one hand,<b>The rise of free online literature has broken the pattern dominated by paid reading, and the competition for free paid reading has become fierce.</b></p><p>Since the second half of 2018, mobile reading apps such as Qimao Novels, Tomato Novels, Shuqi Novels, and Fit Novels, which claim to offer free reading, have intervened. With a large amount of free content and cash reading incentives, they have \"paved the way with money\" to reshape the market that was once dominated by piracy, turning the background of free novels from gray to white.</p><p>According to QuestMobile's 2020<a href=\"https://laohu8.com/S/600941\">China Mobile</a>According to the \"Internet Annual Report Part 2\", in December 2020, the number of users of free reading apps reached 144 million, an increase of 22% compared with 118 million in the same period of the previous year. The situation is exactly the opposite for paid online literature apps, with monthly active users in the industry declining from 254 million in December 2019 to 219 million, a drop of 13.7%. As a member of the paid camp, ChineseOnline has naturally also been impacted.</p><p>Fortunately, ChineseAll and Qimao Novels have partnered on digital content licensing, which has indirectly benefited from the growth of free novels to some extent.</p><p>On the other hand,<b>Compared to its target<a href=\"https://laohu8.com/S/603533\">iReader Technology</a>Not to be underestimated, the two sides are engaged in a fierce battle.</b></p><p>According to iReader Technology's financial report, its operating revenue for the first three quarters of 2021 was 1.597 billion yuan, a year-on-year increase of 6.81%; Net profit was 149 million yuan, a year-on-year decrease of 10.46%; Net profit excluding non-recurring items was 147 million yuan, a year-on-year decrease of 9.77%.</p><p>This means that iReader Technology's operating revenue, net profit, and net profit excluding non-recurring items are all significantly higher than ChineseAll, although the latter has a greater advantage when going global.</p><p>ChineseAll has a relatively rich overseas product line, with multiple platforms such as Chapters, Screen, Spotlight, and Kiss. In the first half of 2021, its operating revenue was 334 million yuan, while iReader Technology mainly relies on the overseas version of iReader, with operating revenue of 148 million yuan in the first half of 2021.</p><p><img src=\"https://static.tigerbbs.com/09710d821259c30452d6462bbbd00032\" tg-width=\"675\" tg-height=\"485\" referrerpolicy=\"no-referrer\"/></p><p>Chinese online popularity chart</p><p>It's important to note that both sides are backed by numerous industry giants.</p><p><a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/00700\">Tencent</a>with<a href=\"https://laohu8.com/S/00772\">China Literature Group</a>As shareholders of ChineseAll, ByteDance and Bilibili have invested in iReader Technology. With the support of these giants, this competition is unlikely to be over in the short term.</p><p>In conclusion,<b>As competition in the online literature field intensifies, ChineseAll is focusing its energy on \"metaverse.\" Whether this is correct or not remains to be seen. The only certainty is that without performance support, even the best concept is a tree without roots.</b></p><p>After all, it's fleeting and can't last.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/bpAZS7d6aIk7IkESp6AL5w\">锌刻度</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4d12ba6d4abafb70216f4d41c63dd343","relate_stocks":{"300364":"中文在线"},"source_url":"https://mp.weixin.qq.com/s/bpAZS7d6aIk7IkESp6AL5w","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106363843","content_text":"“元宇宙”罩不住中文在线了？被誉为“元宇宙”龙头之一的中文在线，这下尴尬了。2022年1月11日，中国移动通信联合会元宇宙产业委员会揭牌，接纳涉足“元宇宙”的8家上市公司，包括中青宝、天下秀、风语筑等A股“元宇宙”概念龙头，却不见中文在线的身影。更为微妙的是，中文在线的业绩大幅预盈，却持续暴跌。日前，中文在线发布2021年度业绩预告，预计2021年全年盈利9000万元~11000万元，比上一个财年的4892.31万元增长84%~125%，公司“文学+”业务收入增长，致净利润较上年同期有大幅增长。万万没想到，预告发布之后股价连跌四天，其中第一个交易日暴跌7.42%，第二个交易日暴跌8.33%，第三个交易日开盘不久就暴跌8.11%。中文在线早早发布业绩利好，不涨反跌的背后是何逻辑？涉足“元宇宙”，到底成色几何？网文市场竞争白热化，中文在线又有几分胜算？蹭“元宇宙”热度，背后大有玄机一般而言，年度业绩预告时间越靠前、净利润增幅越大，就越容易获得资金的关注，多只大幅预盈的股票表现的相当坚挺。如此一来，中文在线的走势格外扎眼。“之前，中文在线忙于蹭‘元宇宙’热度，股价过快上涨，预盈不涨反跌或与此有关。”一名私募人士如是说。该私募人士进一步表示，论蹭“元宇宙”的手段，中文在线称第二，无人敢认第一。相当长一段时间，中文在线的股价在5元~7元徘徊，直到实际控制人有了意味深长的动作，股价才起了波澜。据爱企查数据显示，中文在线董事长童之磊为中文在线的第一大股东及实际控制人，持股比例为13.71%。图源：爱企查2021年10月14日，童之磊宣布拟以大宗交易的方式转让不超过公司总股本3%的股份给广州市玄元投资管理有限公司—玄元元定6号私募证券投资基金，而玄元元定6号私募证券投资基金的唯一持有人正是童之磊。需要注意的是，这不是简单的左手倒右手，其中大有玄机。按照证监会的相关规定，持股5%以上股东减持必须提前公告，而持股比例低于5%则不用遵守上述规定，这意味着如若减持更为隐蔽。“巧合”之后，中文在线频频向“元宇宙”靠拢。譬如，10月19日答复投资者：“可为元宇宙持续提供海量的IP，丰富构建虚拟世界，公司在积极研究相关方向”。再譬如，11月9日答复投资者：“公司看好元宇宙未来的发展，元宇宙是公司长期发展战略，公司已成立团队并投入相关资源，目前已申请如中文元宇宙、17元宇宙、IP元宇宙、四月天元宇宙等商标。”更绝的是，发起“中文元宇宙全球征文大赛”，最高奖高达100万元，开了网文行业涉足元宇宙的先河。此背景下，狂热的资金纷纷涌入中文在线。而中文在线的股价也犹如坐上了“火箭”，从2021年10月14日的5.59元一路上扬至12月13日的19.88元，涨幅高达225.64%，与中青宝并肩成为元宇宙概念的龙头。股价抬高之后，减持随即而来。第八大股东启迪华创宣布清仓减持7761368股，启迪孵化器宣布清仓减持3776625股，双双退出中文在线股东序列。由此可见，中文在线与“元宇宙”可以擦出多大的火花，现在不好下定论，但相关股东借此赚得盆满钵满却是一看便知。业绩回暖，但跟元宇宙没有一毛钱关系一言以蔽之，泡沫化叠加股东减持，成为中文在线股价狂泄的关键所在，哪怕业绩大幅预盈也不济于是。另外，中文在线的预盈成色也值得商榷。中文在线也预告：“（2021年）报告期内，预计非经常性损益对当期净利润的影响金额约为8400万元。”所谓非经常性损益，即非主业收入，譬如出售股权带来的收益、金融投资带来的收益等，具有不确定性、高波动性、非持续性等特点。换而言之，中文在线2021年扣非净利润（主业）只有600万元~2600万元。据财报数据显示，2017年~2021年前三季度，中文在线扣非净利润分别为4563万元、-19.66亿元、-6.45亿元、-4640.75万元、1284万元，也就是说中文在线的盈利能力还没有恢复到2017年的水准。盈利能力还没完全恢复之所以如此，与其跨界失败有莫大的关系。据公开资料显示，中文在线旗下拥有17K小说网、四月天小说网、汤圆创作等网络文学原创平台，扮演的是数字内容提供商的角色。这一行赚钱不宜，2011年~2016年盈利能力变化不大，遂于2017年耗资14.72亿元、溢价5.26倍收购晨之科，切入游戏领域以寻求第二曲线。万万没想到的是，这家主打二次元游戏的晨之科并非良配。2018年~2020年，晨之科的净利润分别为-8903.93万元、-2.79亿元、-1313.42万元，非常没有成为新的增长极，反而成为中文在线的累赘，导致其不得不进行巨额商誉减值，从而影响了盈利能力。那么，当下涉足“元宇宙”会重蹈覆辙吗？一名业内人士告诉锌刻度：“中文在线的实际业务范畴未变，营业收入与净利润的来源未变，与‘元宇宙’扯上关系不过是旧瓶装新酒，早就引起深交所的质疑。”该业内人士进一步表示，中文在线挺进“元宇宙”的打法并无优势：网络征文并无技术壁垒，极易被模仿，且征文活动的稿件并未要求排他性；网文改编为“元宇宙”故事及影视作品尚早，毕竟“元宇宙”的雏形都还没有定下来，目前行业主要聚焦技术层面。“元宇宙所涉及的应用终端是否普及，能否真正建立虚拟和现实的联系，以及是否有真实的落地场景，存在不确定性。”中文在线也坦承基本面未发生重大变化，“公司已经进行元宇宙的布局，但仍处于探索尝试阶段，项目未来的实施进度以及能否达到公司预计的效果，存在较大的不确定性，且对公司短期经营业绩不构成重大影响。”换而言之，中文在线的“元宇宙”故事，没有其说那么动听。两线作战，中文在线如何突围？抛开“元宇宙”不谈，中文在线的竞争势态并不乐观。一方面，免费网文兴起，打破付费阅读为主导的格局，免费付费之争白热化。自2018年下半年，七猫小说、番茄小说、书旗小说、飞度小说等喊着免费阅读口号的移动阅读APP横插一脚，凭借大量免费内容，并辅以现金阅读激励，“用钱开路”重塑昔日盗文主导市场，将免费小说的底色由灰转白。据QuestMobile发布的《2020中国移动互联网年度大报告·下》显示，2020年12月，免费阅读APP行业用户规模1.44亿，较上年同期的1.18亿，增长了22%。付费网文APP的状况正好相反，行业月活跃用户从2019年12月的2.54亿，下滑到2.19亿，降幅13.7%。作为付费阵营一员的中文在线，自然也受到冲击。所幸，中文在线与七猫小说在数字内容授权展开了合作，也在一定程度上间接享受到免费小说的成长红利。另外一方面，与其对标的掌阅科技不容小觑，双方呈现缠斗之势。据掌阅科技财报显示，2021年前三季度营业收入为15.97亿元，同比增长6.81%；净利润为1.49亿元，同比下滑10.46%；扣非净利润为1.47亿元，同比下滑9.77%。这意味着，掌阅科技的营业收入、净利润与扣非净利润这三大指标均高了中文在线一大截，不过后者出海上更为占优。中文在线的出海产品线较为丰富，拥有Chapters、Screen、Spotlight、Kiss等多个平台，2021年上半年营业收入为3.34亿元，而掌阅科技主要依赖iReader海外版，2021年上半年营业收入为1.48亿元。中文在线的人气图需要注意的是，对垒的双方背后都不乏巨头站台。百度、腾讯与阅文集团为中文在线的股东，而字节跳动、B站入股了掌阅科技，巨头们加持之下，这场竞赛短时间内难入终局。总而言之，在网文领域竞争愈发激烈之际，中文在线将精力倾注于“元宇宙”，是否正确尚无法给出结论，唯一确定的是如若没有业绩支撑，再好的概念也是无根之木。毕竟，昙花一现，不能持久。","news_type":1,"symbols_score_info":{"300364":0.9}},"isVote":1,"tweetType":1,"viewCount":4685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834843279,"gmtCreate":1629792852891,"gmtModify":1676530132663,"author":{"id":"3570833668911971","authorId":"3570833668911971","name":"Li 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