Discussion and suggestion:
The company receives all Class A common shares of Alpha through shares of the Development Bank and payment of premium. The main information of your company is Playtika, which is responsible for the transformation of travel services. Through this collection, we can enhance the proportion of the company's responsibilities in the field of mobile games and enhance the company's revenue. On the other hand, Alpha can serve as a destination for the company to travel abroad and build a global travel edition.
The company forecasts a profit of 643 million yuan to 754 million yuan from January to September, an increase of 189% 239%. We maintain our previous profit forecasts. For 2016-2018, the actual profit of the company is 1.018 billion yuan, 1.211 billion yuan and 15.35 yen, with YOY growth of 205%, 18.9% and 27%. Based on the latest share capital, the EPS per share is 0.60 yuan, 0.72 yuan and 0.91 yuan, and the current 17-year EPS is 69 times. The valuation is on the high side and the "hold" proposal is given.
Signing the financing Framework Agreement: the company recently issued an announcement to purchase all Class A common shares of Alpha Company held by 13 trading partners, including Retail, Holdings, Hongyi, etc., under the Agreement on developing shares and payment of funds. As of September 26, the above-mentioned parties have not yet acquired the rights to Alpha shares (through transferee rights), and the financial valuation of the company has not been completed, so the qualification of this transaction has not yet been confirmed.
The capital of the company is the overseas travel transformation company: the main asset of Alpha, the company of overseas tourism, is the 100% equity of Playtika. Playtika focuses on tourism transformation services, with advanced technological development capabilities, as well as large data and artificial intelligence analysis capabilities, through mobile games with large consumption and poor performance, and the use of technical means to greatly improve tourism products, revenue and profits, and the company's business has achieved rapid growth in the past five years. The company's games are based on social categories such as chess and cards, and are expanding and revamping new games in other categories, mainly in the United States.
Strengthen the mobile game service and promote the globalization strategy of mobile games: while promoting the conversion of the core games of the "Journey" series to mobile games, the company has stepped up the research and development of mobile games, and continued to launch various mobile games such as "Ball Game" and "Expedition Mobile Games". The recharge fund of 2Q16 mobile games has exceeded that of PC games for the first time. After the completion of this collection, on the one hand, it can increase the proportion of the company's responsibilities in the field of mobile games and enhance the company's financial position. On the other hand, Alpha can serve as a destination for the company to travel abroad and build a global travel edition.
Profit forecast: from 2016 to 2018, our company actually made profits of 1.018 billion yuan, 1.211 billion yuan and 15.35 yen, with YOY growth of 205%, 18.9% and 27%. Based on the latest share capital, EPS per share is 0.60 yuan, 0.72 yuan and 0.91 yuan.
