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云游控股有限公司(00484.HK)

Yunyou Holdings Limited (00484.HK)

時富證券 ·  Sep 22, 2013 00:00  · Researches

The company is a leading Internet research and development company in China, and at the same time, the development of its mobile phone services has skyrocketed. According to iResearch's statistics, according to the net revenue of the network development industry in 2012, the company ranks first among China's web research and developers, accounting for 24% of the total market share of Internet research and development. As of June 30, 2013, the company has successfully developed and launched more than 30 popular models. In the same period, the company's development platform 91wan has launched 79 independent R & D and proxy networks, with more than 179 million customers. The products developed or developed by the company all use the props revenue model, through the players to buy props to earn revenue. The operating income of a company is usually affected by factors such as the overall economy, the increase in mutual investment use, the supervision of the environment, the demand of related enterprises, and the cost of the industry.

In the three years ended December 31, 2010, 2011 and 2012 and the six months ended June 30, 2013, the company's income was 9.510 million yuan, 384 million yuan, 776.6 million yuan and 573.7 million yuan, respectively.

The defined use of the proceeds

Assuming that the over-allotment rights have not been exercised, based on the median sales calculation of HK $49.25 per share, it is estimated that the income from the sale of shares will be HK $90.45 million.

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