BesTV: Hand in Hand with Microsoft

A few days ago, large-cap stocks such as banks, brokers, real estate, etc., had huge capital outflows, which became the main force for yesterday's shorting of the market. Although many stocks such as cultural media, electronic information and other emerging stocks have risen sharply, there has been a large net outflow of funds. Flow of funds showed that cultural media outflow of 788 million yuan, electronic information outflow of 424 million yuan, respectively, ranked 4th and 6th in the market sector sector. Among them, BesTV (600,637), which had the largest increase in electronic information, reported a net outflow of 798.98 million yuan to this bull stock despite reporting daily limit.

BesTV is registered in Xuhui District, Shanghai. It specializes in the design, research and development of electronics, information, and network products; it engages in the import and export of copyright, equipment, goods, and technology; and the original abbreviation of the stock is known as "radio information" by the old shareholders. , "Sports and TV shares" and "Shang Radio". Due to the company's determination to lay out the Internet industry chain, in the past three years, in the case of almost no delivery, the stock price rose more than 7 times, the current share price has reached 50 yuan line.

Recently, BesTV relied on good news. The company announced on Monday evening that it will team up with Microsoft to set up a joint venture company in the Shanghai Free Trade Zone. BesTV plans to invest 40.29 million US dollars in cash, equivalent to approximately 246 million yuan, holding 51% of shares; Microsoft plans to invest 38.71 million US dollars in cash. , about 237 million yuan, holding 49%. The two parties will come up with their respective business-related core resources and conduct comprehensive cooperation in a new generation of family game entertainment technologies, terminals, content, and services. According to the analysis of CICC, the rapid growth of the company's OTT volume, games, and advertising business in the later period will drive a substantial increase in earnings, and there may be more than expected earnings. Due to optimistic about the company's explosive demand for family entertainment space and vertical integration of the industrial chain, CICC believes that BesTV is expected to grow into a 100 billion market-value company and reiterate its recommendation rating. At present, the market value of the stock is about 43 billion yuan. Guotai Junan’s research report on September 17 also raised BesTV’s target price. The reason for the upward adjustment is that the new media industry has entered a phase of strong cross-border strategic cooperation and industry integration. The company’s development space has increased, and expansion of cooperation and extension is expected to increase.

However, in the announcement on Monday evening, BesTV also reminded the risk factors of the cooperation, saying that the technology, applications and services of various products such as global smart terminals and family game entertainment are changing with each passing day, and the products and services of future joint venture companies will face With fierce market competition, this investment will face market competition risks.

The organization has shown extraordinary attention to BesTV, a company that has positioned itself as a TV media operator. In the first half of this year, a total of 186 funds held this stock, totaling 177 million shares, which accounted for 21.18% of its A-shares in circulation; Dacheng Blue-chip Steady Fund also increased its holdings to 1,823,900 shares in the first half of the year and became the sixth largest circulation shareholder. The list of transactions since the beginning of this year also shows that institutions actively participated in the market's speculation. Yesterday's list of dragons and heroes, buy one, three, five are institutions dedicated seats, buy a body to buy 139 million yuan; and sell one is also an institution-specific seats, sell an amount of 89,116,800 yuan; buy and sell the top five net buy 4006.37 million yuan. However, BesTV has already climbed the ranks of high-priced stocks, and is still creating new highs. The company announced that it is in favor of Microsoft. At this time, there are also funds to be cautious. The net outflow of funds of 88.98 million yuan was evidenced yesterday.