Chen Lan heard Xia Jian asked about the loan，He frowned and said：“Ran to four banks，Only two promised us，But the amount is too small，Only one million loan。This for us，Just a drop in the bucket，Can’t solve any problems at all”
“What to do then？”
Xia Jian said，Anxiously glanced at Guan Tingna。These banks usually call them to get loans，Critical moment now，They are like this again。
Guan Tingna looked at Chen Lan and said：“These banks that don’t give us loans，Don’t save a cent for them in the future。You just deposit all the funds in our account bank”
“I know，I will definitely do this next。Repay the loan？”
Chen Lan saw that the faces of Xia Jian and Guan Tingna were different，Asked in a low voice。
Xia Jian shook his head and said：“no need，What can I do with this loan?。Forget it，Putting things together for the time being，You quickly bring Baili，Go to the office of Dongsheng Group in Donglin Building，Pick them up first，Let’s talk about the rest according to the situation。If Hu Huiru asked me，You said something happened to your hometown”
Guan Tingna nodded，Call Baili to the Donglin Building。Xia Jian glanced at Chen Lan who was still standing beside him and said：“Pingdu is so big，While you do business well，Also do a good job in public relations”
“Sorry Mr. Xia，What I did on this piece is not in place。This time I was led by these banks，Delayed the company’s major events，I am responsible。I just don’t quite understand，Based on the current status of our company，Don’t need so much capital，That loan is？”
Chen Lan glanced at Xia Jian with a heavy expression，She asked in a low voice。As the company’s financial boss，Of course you should also have the right to know about these things。
Xia Jian took a deep breath and said：“Oh！This matter was not made public before，So we can’t tell you。Now the situation is different，Let me tell you！We want to acquire several projects invested by Dongsheng Group in Donglin Township”
“what！This is a big project。I don’t know if we have inspected these projects，Never act blindly。We are a new company，Can’t withstand big winds and waves”
Chen Lan is somewhat responsible for the company。

Su Luo was stunned，I can’t turn my head，It’s that simple？
He couldn’t help but speak：“two……Two teachers？A few more behind me？so……～”
Huang Lei waved her hand and interrupted him：“Su Luo，Tell you the truth，From the moment you walk in，Your assessment has already begun，You are not as anxious as other young people，Although the origin is ordinary，But our show itself is indisputable，Your quality，Let us appreciate，So no need to consider other people。”
Teacher He deserves to be a good friend with Huang Lei for decades，Added：“The point is，We two are old，The mushroom house needs a young and strong guy……”
Su Luo has a black line，Almost believed in the evil of the old man。
Since the amateur guest has been confirmed，The program team left Su Luo，The director personally interviewed and asked some things。
Wang Yu laughed and looked at Su Luo，Tao：“Teacher Huang, they have good vision，Pretty good guy，Since you have passed the assessment，Then I will be a member of the mushroom house，This season’s show will take three months to record，So you try to make your schedule。”
“In addition……”Wang Yu struggled for a while，Come up with a contract. “：“This is a confidentiality agreement，There are some things in the show that need to be kept secret and must not be shared，Also as compensation，We will pay you 100,000 yuan this season，But if you default，Need to pay five million in compensation。”
Su Luo couldn’t help but be frightened，I almost thought it was going to sign a deed，Pick up the agreement and read it carefully，Complexion。
It’s all written on top，Do not disclose state secrets，Not without the consent of the program group，Spread celebrity gossip wantonly……and many more～
“no problem，I will obey。”Su Luo happily signed the name，But careless Su Luo never saw it，There is a clause in the clause，Amateur guests when necessary，Must cooperate with the program group to make a decision～，So that Su Luo suffered a big loss in the end。
After negotiated terms，Su Luo officially became the resident guest in the third season，And this episode of the show，Recording will start in three days。
After Su Luo heard this breath，Suddenly startled，Tao：“That one，director，I have a request。”
Wang Yu joked：“You said。”
“Can I just live in the mushroom house，Three days……I……～”
Wang Yu contends for a moment，Just nodded and agreed。

“Fernandez·Mr. Chen seems to have a good relationship with a consulting firm in Washington，”Secretary thought for a while，Replied：“This consulting company has contacts with some big names in the Pentagon。”
“So it’s probably an acquaintance？”Heard the secretary，Bruce·Evans couldn’t help but smile，He knows these meaningless“Consulting company”What’s the matter，Speaking of，Lockheed and these“Consulting company”There are still many business exchanges。Casually ordered the secretary：“Help me contact，Just say I want to talk to him about something。”
“Ok，”The secretary hurriedly responded：“What time？”
“The sooner the better！”
……………………
In blues·Evans“The sooner the better”At the request of，The next afternoon，Jotson appeared in Bruce·In front of Evans。
Looking at the big man in front of you，Jotson was surprised and happy。
I am glad that this is the senior executive vice president of the military giant Lockheed.，Such a big man finds himself，Once we can take this opportunity to get online with Lockheed，Wouldn’t the money be rolling in from now on?？；
Worry is，Jottson knows himself，Know that Lockheed has a special cooperation“Consulting company”，They are even here“Consulting company”Some shares in it，In other words，In theory, such a good thing can’t fall to oneself at all。
Then the problem is coming，Bruce·Evans finds himself，What is it for？
Bruce·Before Evans came，I specifically asked people to find a piece of information about the relationship between Qiao Tesen and Chen Geng，I know that this guy has a very good relationship with Chen Geng，So I didn’t put on a show、Domineering posture，Took a sip of coffee，Bruce·Evans asked Jotson quite politely：“Mr. Chotson，I heard that your relationship with Mr. Fernandez is very good？”
Bruce·Evans came to find himself，It’s for Fernandez·Chen？
Don’t understand Bruce·In the case of Evans，Qiaotson was playing drums in his heart，Prudent way：“This one……how to say，Me and Fernandez·Mr. Chen has been cooperating for some years，Everyone’s friendship is pretty good，but……”
“that’s enough，”Without waiting for Jotson to finish，Bruce·Evans nodded：“Mr. Chotson，Please come over this time，I need to trouble you to ask Fernandez·Mr. Chen sends a message，Say that Lockheed intends to sell off the civil aircraft business，I don’t know if he is interested？”
“……”
Jotson waited for a long time，Didn’t wait for Bruce·Evans’ below，Only astonished：“That’s it？”
Bruce·Evans nodded：“Yes，That’s it。”
Jotson suddenly couldn’t laugh or cry！
If just let me help you with Fernandez·A word from Chen Di，Then you said earlier，Such a simple thing！Do you know I almost scared Lao Tzu to death，I thought I accidentally blocked your Lockheed way……

Huang Junjie can naturally feel Qin Feng’s killing intent，But he didn’t panic，Instead, he said with a smile：“Young people don’t be impulsive，I don’t just know about this，Will Tianguang know，But he knew it earlier。”
And he didn’t handle it well，I will help you handle the end of the hand。What you helped Jiang Yan treat，That’s the medicine a friend of mine brought back from abroad，This is the drug，Treating a cold is best。
Huang Junjie finished this sentence，And took out a box of medicine from my pocket，Obviously it’s already prepared。
Qin Feng looked at Huang Junjie without understanding and asked：“why treat me like this？”
Huang Junjie said in response to what was not asked：“Do you think a person wants to succeed，What should he have？”
This is a very serious question，Qin Feng also thought about it for a long time，Then he said：“I should rely on my own ability？”
“Yes？Have their own skills，But everyone’s brains and skills are not much different，Except for a handful of people who will go against the sky，The others are all beings。”
Whether it’s me，Or the sky light is like this，He found your situation，But he is calm，Have been silently supporting you，Get your favor，In the future, if you become more prosperous,，He will naturally go up again。
The reason why he could float up and down so many times before，Because of these。
Huang Junjie let Qin Feng enter another world，He always thought that what he did was quite secretive，But now he realizes that he has always been a little underestimated hero。
But now Qin Feng is also facing a problem，He looked at Huang Junjie with a headache and asked：“What do you mean？”
Qin Feng is also acquiescing something，Everyone has investigated clearly，Covering up here is purely an insult to my own brain。

At the moment, the shop mouth called the home of hardware，But it still looks old、A messy market，Let the customers who come to trade and visit feel a little disappointed，Plus the product“low、small、Scattered”Mainly，Brings a direct negative impact on the development of the Diankou hardware industry。
With the increasing desire of the majority of business operators to improve the business environment，More and more urgent，The voice is getting louder。
In order to improve the environment of the shop，Han Sanjiang、Mu Chunfeng、Jiang Yuanqiao’s leadership discusses countermeasures，Decided to make a drastic reform of the shop entrance，So a Diankou People’s Congress was held，The purpose of the meeting is，Build a super-large commercial market，Let all people who do small hardware come to the store to operate their own small hardware。
I heard that a big hardware market will be established，All the hardware workers have gone to the meeting，Because it concerns their vital interests，It is also related to the future development of Diankou。
Han Sanjiang speaks at the venue：“Dear fathers and villagers，Hello everyone！Today i call everyone to come，Everyone must know the purpose of the meeting，Our conference is not for anything else，Just for the current status of the hardware in our shop，Worried，the first，Our shop has developed，However, our small hardware is sold on the narrow street like a grocery store，Some put it on the road，Just like the street food vendors，Disorganized，Our hardware is not a stall，Placed on the ground，Under the bridge，Everywhere at the entrance of the village，This shows the customers who come to our shop selling small hardware，What is a concept in my mind！They feel，Our products are inferior，As bad as a street stall，No taste。”
“Yes，I found that our hardware is too big，More factories，But it’s too messy，There are more factories in our shop，But there are fewer operators，More than 2,300 small and medium enterprises，Only in old street、Bridge Street、Three small places in Cunkou Street，There are only 700 or 800 business premises in Three Streets，Thus，The hardware of the other thousand enterprises，No place to operate！This really looks aggrieved and panicked，Still very useless？”Someone stood up and talked。
“This is embarrassing，But recently，Some hostels and restaurants are missing，Do you guys know why less？”Someone asked。
“That’s not the big boss of Wenzhou，For your own convenience，Actually wrapped up the hotel restaurant at a high price，As your own business place，Used to purchase、Ship、transaction，Thus，It’s hard for foreign customers to come to our store and want to sell hardware？Hey······”Someone back。
“why？”Someone asked。
“why，Is this unclear?？If you go to which city，Can’t find food，Can you stay？Man is pig iron，Rice is steel，Panic without a meal，We don’t even have a restaurant，Over time，Who else wants to come to our shop，Isn’t this self-destructing the Great Wall?？”Someone finally asked a more sensitive question。
“Yes，No matter how good a place is，Too good to find a place to eat，What’s okay then？That’s nonsense！Others go to you to buy things，Not even a restaurant or hotel，You call someone else，Not eating during the day，Sleeping on the sky bridge at night，Do you grab a place with the beggar?？You guys tell me，is this okay？”Someone replied。
“I won’t say anything，Several customers come to my shop to buy hardware，Can’t find a place to eat after buying，Can’t find a place to stay，I couldn’t tell me，Eat in my shop for a few days，Stay a few days，When leaving，Full of complaints！I don’t know if they will come next time，I don’t have the confidence to say this。”One of the shop owners said。
Mu Chunfeng saw that everyone had trouble saying，I want to spit the bitterness in my heart，But we are in a meeting，Not a place to spit out bitterness，Standing on stage，Shouted：“Folks and elders，Everyone be quiet！”Talking and making gestures，Ask everyone to be quiet，do not speak。
Everyone has to be quiet，Listen to Mayor Mu。
Mu Chunfeng smiled at everyone knowingly，Hold fists to show thanks。
Then tell everyone：“Folks and elders，Hello everyone，Call everyone to a meeting today，Its main purpose is to solve the problems in your mind，Our town government decided to plan a hardware city at Diankou，Let every business stop，Have their own stores，We also understand the current dilemma，The store is developing too fast，But our infrastructure is always one step behind，Even several steps，Seeing that there are fewer and fewer hotels at the entrance，We see in our eyes and in our hearts，Also panic about it，If you don’t continue to change the status quo，There will be no customers coming to our store in the future。”
“Yes，Yes，There is no place to eat and live here，Who dare to come，Came to starve and sleep on the bridge？”Someone in the venue agreed。
Mu Chunfeng motioned everyone to be quiet，Go on：“By the time，Who do we sell to？So call everyone，Discuss the planning rules for building a hardware city，But to build a hardware city，Need hundreds of millions of capital，Covers an area of more than 500 acres，A reasonable structure，fully equipped、Set professional market、Industrial complex、Hardware city with business center。You can’t just do it，You have to work together，Shared market construction costs！We expect to build this city，It needs a cost of 140-50 million，Everyone thinks，Is this hardware city necessary?？If it feels necessary to build，Then we will build it。You can also raise funds to build your own part，We don’t force it，We can adopt the method of enclosure bidding，Who pays to build the No. 1 landmark，Who paid for the construction of the second landmark，See what everyone has opinions？Welcome to participate in the speech！You come one by one！”

[Cooked Purple Cabbage Baba Dad’s Practice]_Chilled Purple Cabbage Baba Dad’s Hometown Practice_Cold Mixed Purple Cabbage Baba Dad’s Practice Guide_Cold Mixed Cabbage Baba Dad’s Practice

Health is more valuable than anything. If you lose more health, you will notice that it is meaningless, and a reasonable diet is an important guarantee for health. The practice of cold purple cabbage’s Baba father is easy, and the materials are allIt is everywhere in our lives, and is especially suitable for those busy office workers.

1. After cleaning the purple cabbage, tear it apart piece by piece.

2, shred, cut as fine as possible.

3. Pour in all the seasonings and shake them manually.

4, protein yolk separation.

5. Add salt pancakes separately.

6. Press out the eyes with a suitable bottle cap.

7, scissors cut out small flowers.

Buckle out Baba’s body with a drinking glass.

8. Nori decorates the eyes.

For the health of themselves and their families, many people start cooking at home, without hindering you to learn more about the practice of Baba Dad, who is serving purple cabbage.

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[Different new experiences every day, both men and women want]

How can men and women live fresh?

I believe many people want to know this answer.

Give sex a new trick every day to keep men and women fresh.

Many people have to worry about 30 days a month, 30 personality styles, how can it be done?

Don’t worry, the following editors will share with you 29 personality patterns, so that your sex is not the same every day.

Many people will ask why it is 29?

Don’t you need to rest?

Have sex for a month?

Here’s a look at 29 personality love tricks: experts teach you to experience different sex lives of men and women every day: bath pressure is a big killer of sexual desire, foam bath relieves stress and restore sexual desire.

Day 2: Massage the navel eyes The navel can be called “sex switch”. Clockwise massage around the navel eyes can stimulate sexual desire.

Day 3: Buying “sexy” sheets Nina Helms, the promoter of the “Sexual Health Lover” organization, said silk or cotton sheets can increase sexual desire.

Day 4: Swap sex. Wonderful couples write down 5 ways of sex that have never been tried or never thought about, and then swap.

Day 5: Write down the visual stimuli. Pay attention to some visual stimuli in your daily life that make you feel “sexual”, and write them down.

Day 6: Drinking a glass of red wine Drinking 1-2 glasses of red wine daily can increase genital blood flow and increase female sexuality.

Day 7: Underwear Show A sexy lingerie show can inspire each other’s passion.

Day 8: The smoother the sensitive area of the lubricating oil, the faster and stronger the sexual arousal.

Day 9: Sharing sexual fantasies. Sharing secrets is extremely private and intimate, while sexual fantasies are a treasure trove of sexual excitement.

Day 10: Create a sexy bedroom and make the bedroom a “private oasis”. Red scarves, rose petals, scented candles, etc. can come in handy.

123Next

FAW Fuwei (600742) first quarterly report in 2019: slightly negative growth in the first quarter

Core point of view events: The company released the 2019 first quarter report: the company achieved operating income in the first quarter of 201829.

5.8 billion, a decrease of one year.

26%; net profit attributable to mother 1.

07 million, a decrease of 6 every year.

93%; net profit after deduction to mother 1.

0.6 million yuan, a decrease of 2 each year.

25%.

The company’s equity incentive plan completed the first grant of incentive objects: The company completed the first grant of stock options to the incentive objects on April 25, 2019. Except for one incentive object giving up on its own initiative, the company granted 2,280 for the first time to a total of 161 people.

One million stock budgets, exercise price of 13.

04 yuan / share, accounting for 4 of the company’s total share capital.

49%.

Our comments on this are as follows: In the first quarter of 2019, the company’s performance slightly overlapped in the short term, and the net profit attributable to the mother company stabilized from the 上海夜网论坛 previous month, and the industry average.

Domestic car sales in the first quarter of 2019 were 637.

240,000 vehicles, a decrease of 11 per year.

32%, the company’s performance was dragged down by the industry, and operating income was slightly replaced every year.

26%, net profit attributable to mothers is slightly broken down every year6.

93%; compared with the previous month, as the domestic auto industry ‘s sales growth in the second half of 2018 changed from positive to negative, the company ‘s net profit attributable to mothers decreased quarter by quarter: 2018 Q2 – 2018 Q4 net profit attributable to mothers were 1.

4.3 billion, 1.

3 billion, 1.

07 million yuan, the net profit attributable to the mother in Q1 2019 is 1.

07 trillion, began to stabilize.

70% of the company’s revenue comes from FAW-Volkswagen, which will benefit significantly from FAW-Volkswagen’s new car cycle.

In 2018, 70% of the company’s one-year operating income was derived from FAW-Volkswagen. FAW-Volkswagen started a super new car cycle in 2018. In 2018-2020, it launched 16 new and replacement models (including 8 new SUVs) and launched a newThe “Jetta” sub-brand (including 3 new vehicles) has entered the low-end market, and the company will fully enjoy the FAW-Volkswagen new car cycle industry chain dividend.

We forecast FAW-Volkswagen’s annual sales in 2019 to reach 225.

80,000 vehicles, an increase of 10 in ten years.

8%, annual sales in 2020 will reach 270.

90,000 vehicles, an annual increase of 20.

0%.

Equity incentive plan completed the first reward, fully motivated employees, and further promoted mixed reform.

The company completed the first grant of a mixed-equity equity incentive plan and awarded 2,480 to incentive objects.

One million stock budgets, about 4% of the company’s total share capital.

49%, incentives include one company director, three senior management personnel and 157 core management personnel, a total of 161 people, the grant price is 13.

04 yuan.

As a traditional state-owned enterprise, the company now provides large-scale and wide-ranging fair incentives which will definitely improve the work enthusiasm of the company’s employees, and the company’s mixed reform will be further promoted.

Investment suggestion: The company has significantly benefited from FAW-Volkswagen’s new car cycle. The large-scale and large-scale equity incentive plan was announced for the first time, followed by mixed ownership reform. The profit margin is likely to increase. Conservatively estimate FAW Fuwei’s total revenue in 2019-2021.Followed by 158.

45, 197.

72, 215.

91 trillion, with a growth rate of 16.45%, 24.

78%, 9.

20%, net profit attributable to mother in turn is 5.

91, 7.

61, 8.

62 trillion, with a growth rate of 19 in turn.

4%, 28.

9%, 13.

3%, the current market value is 66.

20 ppm, corresponding to PE in order of 11.

2, 8.

7, 7.

7 times, maintaining the “recommended” level.

Risk reminders: ① the risk of rising raw material prices; ② FAW-Volkswagen’s production capacity is less than expected; ③ the domestic automobile market is sluggish.

Use M & A to Dress Up 2017 Performance

Every reporter Xu Lianlian and Ding Zhouyang’s editor Du Wei in 2014 and 2015 can be described as a year of A-share mergers and acquisitions. Among them, the film and television and game sectors are hot spots for mergers and acquisitions, and cross-border mergers and acquisitions are frequent.

For example, Songliao Motors (now “Wintou Holdings”) acquired Shanghai Duwan Network, Dadongnan acquired Shanghai Youtang Network, and Julong Pipe Industry acquired Aegras Technology. The amount of acquisitions was basically over 1 billion. These traditional companies have changed.And start “telling the story of the game.”
.

　　Recently, listed companies have issued 2017 annual performance notices and quick results.

“Daily Economic News” reporter combed a “transcript” issued by a listed company with games as its main business based on wind data.

Among the 36 gaming companies that have announced their results, 15 companies have seen penetrating gains or losses in listed companies ‘net profits due to mergers and acquisitions.

A large number of companies have serious financial reports because the target results of mergers and acquisitions have not been completed, and the aftermath of mergers and acquisitions has gradually begun to appear.

　　Internet demographic dividend no longer results in mergers and acquisitions leading to large growth in performance “Daily Economic News” reporters found from 36 game companies that have released quick performance reports that the overall performance of game companies in 2017 is not bad, and many companies ‘performance has increased significantly.Zhongqingbao, Xunyou Technology, Kaiying Network, Aeglas, performed well in the financial report, with an average increase in net profit of more than 100%, and Zhongqingbao’s net profit rose by a staggering 237.

97%.

　　In 2016, the popularity of mergers and acquisitions of game-listed companies continued to increase. Tianshen Entertainment, Aofei Entertainment, Palmtech, Kunlun Wanwei, Giant Network, Perfect World, Zhongqingbao, and other companies successively merged and reorganized.

Under the pressure of three-year performance commitment of M & A and reorganization, the performance of game companies in 2016 was greatly enhanced by M & A.

By 2017, the trend of games listed companies relying on mergers and acquisitions to make up their performance is more obvious.

　　In analyzing the “enthusiasm for mergers and acquisitions” of listed game companies, Miao Chunyang, a senior game investor and partner of Shenzhen Kunfang Venture Partners, told the Daily Economic News reporter that the growth of the game industry is largely due to the rapid development of mobile Internet.Brought, but now the demographic dividend of the domestic mobile Internet is almost over.

“The game industry is also a highly traffic-dependent industry. Now almost all of the traffic entrances are occupied by Tencent and NetEase. Without traffic, game companies cannot play.

In order to boost performance, game listed companies can only reach for mergers and acquisitions.

“And as the game industry cools down and market share is increasingly concentrated with giant companies such as Tencent, the target of mergers and acquisitions by game listed companies is no longer attached to game project companies.

For example, Xunyou Technology, which has a net profit growth rate of 164% in 2017, acquired the mobile Internet tool development and promotion company “Lion’s Roar” at a high price of $ 2.7 billion last year. The lion’s trump card product is “Mobile phone cleaning optimization butler”, APPs such as” Mobile Lock “are obviously very large compared to game projects.

　　”Because the game industry has changed a lot, the market likes new and hates the old, and R & D often can’t keep up with the pace of the market, so game companies are eager to use M & A to extend the extension and use the number of projects to pile up to meet the growth of performance.

Cao Haitao, an investor in the field of cultural and creative industries, told the reporter of “Daily Economic News”, “However, it is important to note that some companies did not maintain stable growth because of the large increase in M & A performance last year, not because the fluctuations were particularly large.

“In the case of Qingbao, the net profit in 2017 increased by nearly 238% compared with the same period in 2016.

One of the reasons is “there are too many reports, and a business combination under the same control has occurred. The company merged Shenzhen Proton Internet Technology Co., Ltd.”.

The net profit attributable to shareholders of the listed company realized by the merged party during the reporting period was approximately 21 million.

However, Zhongqingbao spent more than US $ 400 million in 2013, and the acquisition of Meifeng Digital and Sumo Technology in Dafa’s income bag caused hidden performance risks.

In 2014, Meifeng Digital and Sumo Technology did not complete their performance commitments, and Zhongqingbao’s net profit was about -22 million.

In 2016, Zhongqingbao’s net profit continued to expand and expand by 176%, breaking through nearly 50 million yuan.

From this point of view, A-share game companies that use M & A to dress up their performance still have risks and challenges.

　　Corresponding to the “maternal body” of being unable to complete performance is dragged down. Corresponding to the sharp rise 深圳桑拿网 in performance, the performance of some companies has plummeted, and “mergers and acquisitions” have become one of the key words of performance change.

Reporters’ statistics found that among the listed companies with games as their main business that released their performance reports, 12 of them have risen sharply because of mergers and acquisitions, but 3 have also fallen sharply because of mergers and acquisitions.

Mergers and acquisitions can make the performance of listed companies better in the short term, but if the succession of the target of the merger and acquisition is weak, the performance of gambling can not be completed, it will also become a performance drag.

　　IResearch data show that 2013?
In 2015, the transaction value involving game mergers and acquisitions reached 105.6 billion US dollars.

A security 北京夜网 analyst who researched the media industry said in an interview with the reporter of “Daily Economic News” that through the Securities and Futures Commission to suspend the cross-border value-added of four industries including film and television, the number of mergers and acquisitions in the past two years has decreased,The aftermath of some M & A high premiums is beginning to show.

　　Game industry mergers and acquisitions are often accompanied by high premiums. Long-term analysts have said that in the case of A-share listed companies’ mergers and acquisitions of game companies, the premium is 15 to 30 times more.

High premium acquisitions are often accompanied by high amount of goodwill and performance gambling. Once the performance is not completed or the target revenue of the merger and acquisition is weak, it will inevitably bring risks.

　　Take Tianrun Digital Entertainment as an example, in 2017?
In June, its wholly-owned subsidiary Shanghai Diandianle had a net profit of 3534.

980,000 yuan, which is off the promised performance1.

15.0 billion is far away.
2016 deduction of non-net profit is limited to 7772.

730,000 yuan, 95% completed.

66%, performance is not up to standard.
This became one of the leading points in the net profit of Tianrun Digital Entertainment.

The securities analyst said that the merger and acquisition of game companies has a very short-term financial boost. Merge and acquisitions are accompanied by performance betting, and revenue will increase significantly. From the perspective of cash flow, game companies have good cash flow.

However, once performance gambling is not completed, then goodwill impairment will be required, and profits will be affected. “If performance gains are not achieved, goodwill impairment will be required, which will further affect financial data.

“Even if it cannot be completed, the target revenue of the merger and acquisition is still very important, and outstanding performance will lead to impairment of goodwill and bring improvement.

For example, Great Southeast Performance Express shows that in company 5.

4 out of 7.5 billion trillion.

The US $ 3.7 billion impairment of goodwill. The initial improvement in the performance of Great Southeast is the impairment of goodwill brought by the weak performance of game companies. The game companies that were acquired at a high price initially became mines with improved performance.

　　Many game companies have realized that mergers and acquisitions are only the beginning, and high-quality game products can make the company “lasting peace.”

Taking Century Huatong, a large-scale acquisition and expansion of games, as an example, it has gradually established its own game operation system and embarked on a self-developed road.

Air Force Century Huatong CEO Wang Yan said in an interview with “Daily Economic News” that “original” has always been the core competitiveness of game companies.

　　The trend of high-quality game products is becoming more and more obvious, which has led game companies to gradually shift from capital trends to product development.

The aforementioned securities industry analysts said that from 2016 onwards, the entire game industry has experienced a significant increase in concentration, and the targets of game companies acquired by a large number of companies will also be affected by the industrial environment.The richer but the limited entertainment time, the ordinary quality things, the smaller the living space will be.

”