Wednesday, September 29, 2010

If the turmoil on Wall Street later to 30 years



Last night, get away from the Kunlun Mountains on home already 13:30. I worked up before going to sleep the last thing the United States under a single point of buying the shares of two listed companies.

In the global financial turmoil, the U.S. stock market is already one to chicken feathers, the market value of many big U.S. companies on Wall Street's flurry of serious fall beyond recognition. For example, take today's market value cf the highest point over the past five years -

Boeing: from 76 billion U.S. dollars fell to 29 billion U.S. dollars

General Motors: from 34 billion U.S. dollars fell to 1.9 billion

Ford car: from 39.5 billion U.S. dollars fell to 4 billion U.S. dollars

Dow Chemical: from 52.1 billion U.S. dollars fell to 19.3 billion U.S. dollars

Citibank: from 164 billion U.S. dollars fell to 45.6 billion U.S. dollars

Goldman Sachs: from 82.5 billion U.S. dollars fell to 24.5 billion U.S. dollars

American Express: from 75.6 billion U.S. dollars fell to 22.5 billion U.S. dollars

Time Warner: from 81.4 billion U.S. dollars fell to 30.1 billion U.S. dollars

Disney: from 65.6 billion U.S. dollars fell to 37.7 billion U.S. dollars

Starbucks: from 29.4 billion U.S. dollars fell to 6.2 billion

Merck: from 129 billion U.S. dollars fell to 55.2 billion U.S. dollars

Federal Express: from 38 billion U.S. dollars fell to 20.1 billion U.S. dollars

Nike: from 33.5 billion U.S. dollars fell to 22.6 billion U.S. dollars

Ebay: from 73.7 billion U.S. dollars fell to 15.7 billion U.S. dollars

Yahoo: from 58.8 billion U.S. dollars fell to 16 billion U.S. dollars

Amazon: from 40.8 billion U.S. dollars fell to 16.5 billion U.S. dollars

Unfortunately, today we are taking this golden opportunity the way the value of investment opportunities may be limited to sporadic number of people buying the stock. Although not rule out the possibility of Chinese enterprises will use this opportunity to boldly go abroad for mergers and acquisitions and strategic investments, but as a whole, Chinese enterprises have not planting season for such a well enough prepared.

If the current global financial crisis came three decades later, China will become its greatest beneficiaries.

Some people may say, above the market value of these enterprises has dropped in such a way, with 2 trillion in foreign reserves China has the strength of some former admirers have not already our multinational giants into their own arms. Even a few years ago, once a famous business school professor called on China to help Chinese enterprises to buy Wal-Mart shot.

This is a far-fetched idea but also very dangerous. We must distinguish between national power and business strength of the difference must not always fantastic shot by the state to help Chinese enterprises in the international arena, how to, not substitute for state enterprises was supposed to stand by the business interests of shareholders, especially minority shareholders the perspective of the interests of the board through the normal system of investment and acquisition decisions to complete.

Today, there have been some high-value businesses, such as CNOOC (247 billion U.S. dollars), China Mobile (1.36 trillion Hong Kong dollars), China Life Insurance (575 billion Hong Kong dollars), Industrial and Commercial Bank of China (293 billion Hong Kong dollars), Bank of China (1160 100 million Hong Kong dollars). But the high market value of individual enterprises does not mean that they have built up large-scale participation in the global M & A conditions.

Chinese enterprises as a whole wants a more aggressive posture in the global M & A arena, there are several important obstacles to be resolved gradually overcome. Some of these problems is the enterprises themselves, some are beyond the enterprise. One of the most important issues include:

1. Foreign exchange system

2. State-owned enterprises and foreign investment restrictions in the approval process related to

3. A-share market and international market Docking

4. China's corporate governance and management

5. The image of Chinese enterprises abroad

6. Chinese enterprises in international marketing experience

7. Chinese enterprises in the accumulation and precipitation of international talent

8. Overseas public relations and investor relations capabilities

The face of global M & A opportunities, only if the Chinese enterprises in cooperation with the environment, when ready, China was ready. This logic is very important, is meaningless reverse.

We missed this wave of opportunity is certainly a pity, but this approach does not matter. The development of enterprises needs time, accumulation, and some processes can not cross. Fortunately, an opportunity like meteor showers, across the'll be back. Hope next time it appears in front of us when we will no longer be spectators.







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Tuesday, September 21, 2010

Optic bound former president of EA games live on their own exclusive rights to operate


"The number of games the same time, to what income level, there are of course two sides agreed in the contract, otherwise EA will not give us the exclusive operator of the favorable conditions." E3 is the United States to participate in development of Yuet Yang Jing, chairman and CEO of the reporter says.

Recently, China has entered two years, has been "semi-concealed" the world's leading interactive entertainment software company Electronic Arts Inc. (hereinafter referred to as: EA) announced that, with the Guangdong Tian Yue strategic partnership, Tin Yuet made its online game products in China's exclusive rights to operate. - And this also means that the original luminous flux of CITIC Pacific's president, Tin Yuet-founder Yang Jing reappear.

During the interview, Yang said Beijing, Tin Yuet now created entirely from his personal funds, early in the game operator input to a 10 million yuan.

Blizzard than Ninetowns agent "World of Warcraft" paid 4,5 billion yuan, the game, "Johnson meat of your body," Gao De Ninetowns promising Blizzard "white workers" hidden dangers, the global market value of the highest Games EA, why is all their own products to the still in business during the Yuet exclusive carrier?

"EA Blizzard more attention than the Chinese market"

A few years ago, Ding Lei, founder of NetEase to the United States to learn from, in cooperation with the EA about the possibilities, it is very depressing to be the other side of "domestic piracy so much, how could the game to make money for the" A "kick" (Ding words) out, so Ding game soaring in NetEase, still adhere to "no door" principle.

Things have changed since October 2004 EA announced that it will set up R & D center in Shanghai, five years, plans to recruit 500 people since February this year, settled in their research and development studio in Shanghai's Zhangjiang High-tech Zone, EA is already in full swing in China a sign of offensive . - EA also said that in 2010 revenue from Asia, the game can reach one billion U.S. dollars.

With EA and Tin Yuet signed, EA's operating team also unveiled at the Guangzhou Tianhe Software Park - with its separated by a wall is Netease, Optic two major game manufacturers. EA confirmed that its operations teams are also being recruited in this war for talent "delicate" relationship, EA chairman with the Tin Yuet Yeung Jing said that the "will to comply with the rules of the industry, will open recruitment will not take the initiative to dig people. "

The same time, a reporter asked, "Blizzard and EA thought in China," not the same time, Yang said Beijing, "EA even more attention to the Chinese market, Blizzard just took Hans 'Warcraft' over, and EA set up R & D in China studio, will be putting in a lot of manpower and financial resources, localization of the game. "

The EA's choice of Tin Yuet Estate, after a great extent is the basis for cooperative engagement on both sides, past president Yang Jing as luminous when the two had the cooperation of casual games platform POGO been approached, the industry also has been reported that EA may acquire luminous flux, or both joint venture, EA injection of not less than 500 million U.S. dollars, but Yang Jing level of cooperation between the two sides in the capital, the news has been called "rumors."

"Policy of concessions we are soiled with NetEase's Light"

Yang Jing, but also acknowledged that the future of the Tin Yuet Estate Agent EA game, its the same time online, what level of revenue, EA and Tin Yuet Estate and both sides have agreed in the contract, "and the reason for all of our games exclusive operating conditions and because EA wants its carriers to focus on, and we will put a good addition to the type of game operations, and then touched upon other areas. "

It is understood that Yuet cooperation with EA, the first launch will be the EA's casual game platform POGO (www.pogo.com) the game platform is in the North American total of 140 million paying subscribers, is ranked first game in North America platform. The number of players for the attention of "FIFA" Online, "We are crashing, but specifically what time to publish, not be disclosed."

The same time, industry sources said the EA selection Guangdong Tian Yue, and the operations teams settled down in Guangzhou, one of the important reasons, but also because the Guangzhou municipal government on tax and other policy level on the online game company, more and more concessions But the Shanghai and Chengdu have been there for the game's first regional preferential policies, which Yang Jing said, "This is soiled with NetEase's light, after they have been on the preferential policies regarding the requirements of the Guangzhou Municipal Government for the proposed . "

"1 million initial investment has been enough"

Recently, join online games Shi Yuzhu has promise to "do not have a million play online games," In the interview, Yang said Beijing, Tin Yuet now created entirely from his personal funds, while the game is put into operation early as 1 million yuan.

"We are not involved in research and development company in addition to outside, and the different role-playing game, full of casual games is also a hot item, not up against the hundreds of thousands of users, from closed beta to open beta, then a formal operation , we can develop to form a loop through the rolling money chain. "

Looking back to the past, their history in the luminous flux of the practitioners, Yang Jing, said, "can only play 60 minutes," one of its experience can not be too confident: "A lot is not a game industry companies - also including the luminous flux, see the Web game to make money, to vote on, and the most terrible, is not the first war is not successful, but achieved little success after the rush to expand into, and not understand the game industry is still very deep water. In fact, the law of the industry, is worthy of our earnest study. "






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