On the day of ble:_ S8um ma1r7y], ble:_ United (600358.CH/) released its semi-annual report for 2016. in the first half of 2016, the company achieved operating income of 43.2022 million yuan, down 4.51% from the same period last year, and the net profit belonging to shareholders of listed companies was-32.8752 million yuan, down 182.34% from the same period last year. The net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses-32.4869 million yuan, down 26.51% from the same period last year. Basic earnings per share was-0.0711 yuan per share, down 179% from the same period last year.
Comments:
1. The hot spring business remains in the doldrums, with losses increasing in the first half of the year. At present, the company's main income is contributed by Nanjing Tangshan Yishang Hot Spring Hotel. in the first half of 2016, the revenue of the hot spring business reached 38.71 million yuan, down 12.88% from the same period last year, including guest rooms, catering and hot springs. The net profit of returning home in the first half of 2016 was-32.88 million yuan, down sharply from 39.92 million yuan in the same period last year, mainly due to income from asset disposal such as the transfer of equity in the first half of 2015. 2. Comprehensively transform outdoor sports and entertainment, and speed up the expansion of extension projects. At the beginning of 2016, the company formulated the strategic development direction of outdoor sports and entertainment, which not only accelerated the industrial layout set up by partnerships and molecular companies, but also made equity investment in some high-quality projects externally, and set up a number of industrial M & A funds. it is intended to accelerate industrial layout, card position and control resources through leverage.
3. Plan to acquire Internet advertising companies to enhance the company's sustainable profitability. In July this year, the company issued a major asset restructuring plan, which intends to buy 100% equity in the new line by issuing shares and paying cash, and raise matching funds of no more than 193 million yuan, with the equity priced at 400 million yuan. The new line sees the main business as the Internet advertising business aimed at game manufacturers, with revenue of 43.3 million yuan and net profit of 7.78 million yuan in 2015. The other party promised that the net profit of the new line from 2016 to 2018 would not be less than 36 million yuan, 47 million yuan and 61 million yuan.
4. Investment suggestions: the main business of the company's hot spring hotel remains in the doldrums and is in urgent need of transformation. It is planned to acquire Internet advertising companies in the near future, and invest in equity projects through industrial M & A funds to comprehensively transform to the outdoor sports and entertainment industry.
The company's current market value of 5.6 billion yuan, considering the acquisition of the new line after the total market value of 6 billion, it is recommended to continue to pay attention.
