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In March 2006, the small partner company became the owner of Golden Harvest for a month and a half, and within a month and a half, Golden Harvest's traditional business did not change much, but new actions were indeed frequent. Pen % fun % Pavilion www.biquge.info

For example, Golden Harvest Entertainment announced that the copyrights of 83 movies (except for third-grade * films and illegal films) held by Golden Harvest Entertainment Company signed a sharing agreement with bilibili and uploaded them to the website for sale.

To put it simply, it is to tell a story, and entertainment companies have attracted much attention in the first place, and combined with popular concepts such as the Internet, it is easy to tell stories beautifully.

Most of the investors in the market are not value investors. Therefore, people invest first to hear a beautiful story that fills him with imagination, and then they begin to look for more evidence to support the truth and beauty of this "story" based on the story, and then, investors enter the pit and buy one after another, pushing the price up and down.

It's not just ordinary investors who enter the pit, many institutional investors and researchers are this kind of urine. Establish a point first, and then find evidence for the point of view.

In the past, Golden Harvest catered to the capital market and invested less in its favor, because Golden Harvest only made a little money when it was listed, but it did not take into account the continuous use of the advantages of the capital market financing platform to expand its own scale.

Many companies that are good at using the capital market will continue to give investors chicken blood, release countless good news, and stimulate the rise of stock prices. After the stock price rises, the listed company can issue new shares at a high price, or mortgage its equity to financial institutions at a high price to raise funds.

Conventional analysts believe that the rise in stock value has nothing to do with the company's operations. But then, Soros made a surprising move away from the fact that if the stock price rises too much, public companies will use it to raise money. Operations can even be driven by rising stock prices. The decline in stock prices has affected the financing ability of listed companies, which may add to the deterioration of the company's performance.

To put it simply, the stock price of a listed company rises and falls. Does it have anything to do with the company, and whether the listed company will use this tool. If. After a company issues new shares, it will never pay attention to the rise and fall of the stock price in the future, nor will it use the capital market to further raise funds, nor will it use the capital market to carry out options and equity incentives for employees, so it may be that the rise and fall of the stock price has nothing to do with this conservative company.

However, some companies that are good at operating with capital make full use of the advantages of listed companies as a financing platform. The rise and fall of the stock price is closely related to the company's prospects.

……

"Benefiting from the Internet, Golden Harvest's prospects are limitless!"

"The business synergy effect of the small partner group is obvious, and Jiahe Company has obviously benefited!"

"Raise the share price forecast of Golden Harvest Entertainment, and expect the target price of HK$15 in the next 12 months!"

"The Asian film and television aircraft carrier is released, and Golden Harvest is building an Asian version of Disney!"

After Golden Harvest released the news of its cooperation with Bilibili, Hong Kong's financial and entertainment media, as well as technology media, collectively joined the bullish trend on Golden Harvest Entertainment.

Although, some people in the Hong Kong film and television industry are opposed, saying that it is difficult for the film and television industry to make money. But those voices were quickly drowned out in more optimistic comments.

As a matter of fact. The views of industry insiders cannot be said to be wrong, if you look at the valuation of Golden Harvest in a static way, it is naturally too expensive. But. They tend to ignore the growth of China's film and television and Internet industries. After Golden Harvest changed its boss, it is obviously better at sharing the growth of China's entertainment and Internet industry.

Therefore, Golden Harvest Entertainment does have the potential to become tens of billions, or even ...... Hundreds of billions of giants! But it takes time to accumulate, huge capital, it is impossible to earn it in a few years, and it needs continuous growth to build a huge empire!

Of course. Jiahe Entertainment uploads film and television copyrights to bilibili, which is also a win-win action. Golden Harvest Entertainment can get a subscription share. Bilibili, on the other hand, gets exclusive genuine content.

In the more than two months since the operation of the bilibili network, the number of users has grown to 1 million. More than 300,000 daily active users. Although, most users check in every day to receive vouchers, and then, use vouchers to subscribe. However, with the increasing number of newly released content, some users can no longer meet the needs of chasing new dramas, new episodes and new films, so the recharge amount has gradually exceeded 100,000 yuan.

Although, compared to the more than two months since the establishment of Bilibili, the cumulative amount of gold coins sent has exceeded 20 million. The user recharge of 100,000 yuan is almost insignificant.

But this proves a truth, even if you can receive cash coins when you sign in every day, there will still be hundreds of users who have started to recharge and pay in advance.

Not to mention, in the future, the scale of users will develop to a certain extent, and the gift of gold coins will be reduced, so the paying users will naturally be driven and there will be explosive growth.

Of course,Now bilibili video network invests money every day to give users gold coins,Although this gold coins are given。 However, the revenue generated by subscriptions is still shared between the website and partners. Bilibili video network is divided into 3 percent, and other partners can share 3 percent of the benefits.

This is tantamount to the small partner company burning money, cultivating the market, and making partners have money to make.

The movies uploaded by Golden Harvest Entertainment include the early movies of Bruce Lee, Jackie Chan, Xu Guanwen, Sammo Hung, Jet Li, and Tsui Hark, and some of these movies are still very valuable to watch. Of course, some movies have become very earthy with the development of the times, but even so, there will still be a little nostalgic value.

The advantage of the Internet is that it can put ancient and modern Chinese and foreign content on one platform to compete. Even if the content is unpopular and old, there may be a little bit of a market.

For example, Golden Harvest's classic old films "Big Brother Tangshan", "Jingwumen", and "Raptors Crossing the River", many young people who have only heard of Bruce Lee's reputation in the past, but have not really watched Bruce Lee's movies, still catch up with the fashion and make up for these classic old movies. As a result, several of Bruce Lee's movies generated a wave of subscriptions*, with more than 100,000 yuan of subscriptions on the Internet every day, which is more than the income of offline cinema lines. Nature seems very small. But after all, this is an old film from many years ago, and it is rare that someone can still buy it.

In addition, in recent years, the special effects films "Storm and Cloud Dominate the World", "Chinese Heroes", "Jianghu" series, and "Sea Tiger" invested by Golden Harvest are on video websites. They have also generated hundreds of thousands of yuan in income.

"Now, bilibili's charging model. It is a very innovative model in the world! But with a lot of accumulation, the future has more potential than a free video site! Yu Dong, general manager of Little Partner Film and Television Entertainment Group and Golden Harvest Entertainment, said in an interview with the media, "At present, Golden Harvest's movies are uploaded to the Internet, and in a week, millions of dollars have been generated. There will be more in the future, after all, it is a cinema that never paints. As long as the internet is around, it's always been there! And our account sharing is very scientific, every month, including Golden Harvest, partners, will receive the royalties generated in the month. ”

"Bilibili Video Network and Golden Harvest Entertainment are brother companies, will you be biased and specifically inclined to Golden Harvest?" The media asked.

"In principle, it will not be too inclined to Golden Harvest,bilibili video network is very unique,There is very little content recommended by the official area of our website,Users are looking for content mainly to find content classification,Ranking。 And the website intelligently recommends some similar content to him based on his past browsing history. Yu Dong smiled, "We hope." The user himself decides what to watch, and not, we help him recommend. At present, we are also committed to making it more efficient for users to find the content they are interested in! ”

Of course, these beautiful words are just words, and the rules are set by the partner company itself. As both a referee and an athlete, completely neutral. It is almost impossible not to interfere with the browsing choices of the users of the website regarding the content.

"Is it possible for the small partner company to inject bilibili into the listed company of Golden Harvest Entertainment in the future?" The media is clearly very concerned about this news.

"For the time being, because the video site is in the investment stage. The parent company can burn money regardless of gains and losses! Yu Dong said indifferently, "But in order to avoid affecting Golden Harvest's financial statements." We will not inject this asset into Golden Harvest for the time being! ”

The loss is actually to get more in the future, assuming that it is worth it to lose hundreds of millions of dollars a year now, continue to invest more than 3 billion, and harvest a platform with an annual revenue of 10 billion yuan and a profit of 1 billion yuan in the future.

Refer to the current TV station, TVB, which is mainly based on audiences in Hong Kong, has an annual revenue of 7 billion yuan and an annual net profit of 2 or 3 billion yuan. Over the years, although there have been many viewers who are becoming more and more dissatisfied with TVB, TVB has continued to make profits under the inertia of ratings.

TVB revenue and profits alone are so amazing, and the TV revenue in the Chinese market is superimposed, the annual revenue is as high as hundreds of billions of yuan, and the total profit is tens of billions of yuan!

The Internet is to subvert the existence of traditional media, and video websites are simply a replacement relationship for traditional TV stations. From a global perspective, the development of video is often a continuous competition for TV audiences.

TV is a much larger market than the cinema line, and if the video website gradually replaces TV, Bilibili, a subsidiary of a small partner company, cannot even become a monopolist. But...... It is expected to be the Apple of the video site!

In the later era of smartphones, Apple's market share was less than 15%, but Apple's profits exceeded those of other smartphones combined. Because, Apple is taking the high-end route, an Apple user can bring several times the company's revenue to Android phones, and contribute more than ten times the profit.

The same is true for paid video sites, where a paying user contributes more than 10 users to the site's market share. Because, free video sites mainly rely on advertising revenue, advertisers pay for the cost of content, and ordinary users can only browse video content at the cost of browsing advertisements that they are not too willing to watch. This results in the fact that the person who pays is not the audience, so the efficiency of production is relatively low.

Advertisers don't care if the audience is satisfied with the content, they only care about the effectiveness of the ads.

But at the end of the day, viewers log in to video websites to watch content. Therefore, the charging model is more certain, and the audience is willing to pay for those contents, so as to better serve the audience.

And if it is not oriented by audience satisfaction, but oriented by serving advertisers, a lot of network resources and costs have been wasted for a long time.

Although, the small partner company explained that it would not inject the bilibili video website into Jiahe Entertainment Company for the time being, however, the market's expectations for Jiahe Entertainment suddenly heated up.

"Buy Golden Harvest! The veteran film giant, the Asian cinema giant, the leader of the cinema chain in Hong Kong, Singapore, Taiwan, and Malaysia, will definitely become the largest cinema company in Asia in the future! ”

"The Internet business is worth paying attention to, and the bilibili video website has gained millions of users in two months. In addition, it is a paid website, and the future is limitless. ”

"In the past, the people who bought stocks behind Li Ka-shing have all made a fortune, Cheung Kong Industrial, Hutchison Whampoa, and they all have a thousand-fold rate of return. Now, these companies have grown into hundreds of billions, and there is no room for growth in the future. Jiahe only has a market value of 2 billion, and with such an eloquent boss as Wang Qinian, it is estimated that it will grow to 20 billion in the future! ”

"When you buy a company, you can see that the financial statements are all false, and it depends on the boss of the company!"

With the continuous news exposure of Golden Harvest Entertainment, it has stimulated the passion of investors. As a result, Golden Harvest Entertainment's share price once again rushed to the HK$13 per share mark.

Next, Golden Harvest Entertainment held a board of directors, and after soliciting the opinions of many shareholders, a new plan was reached - employee equity incentive!

Of course, it is not a direct equity grant, but an option, with an average of 10,000 to 1,000,000 call options per employee, but the subscription price is HK$20 per share.

In other words, if Golden Harvest's share price rises above HK$20, let's say HK$30. Employees can subscribe at a low price of 20 yuan per share, and after that, sell and cash out in the market to get huge benefits.

And if Golden Harvest's share price cannot rise to HK$20 per share, then options are naturally equivalent to waste paper. Only when the stock price rises above HK$20 will employees be able to pay for the option price.

After this news was thrown, the new and old employees of Jiahe Company were naturally full of enthusiasm!

Even Zou Wenhuai couldn't help but sigh that in the past, he was too patriarchal, and his interests were mostly paid or dividends.

Suppose that Golden Harvest stars, such as Jackie Chan, have tens of millions of Golden Harvest options in his hands, then, I am afraid that he will always work hard to make movies, and even reduce his body price to do a good job of performance, after that, the performance is done, the stock price goes up, and the call option is used to subscribe for stocks at a low price, which is obviously more beneficial than the traditional model. (To be continued)

PS: First update, thank you for Godman monthly pass support!

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