After Meisheng Cultural & Creative Corp.Ltd(002699) of the board last week was prompted by the risk, the bidding continued to open significantly higher yesterday, reaching four boards. Today, the yuan universe plate broke out again, and the “leading” Meisheng Cultural & Creative Corp.Ltd(002699) rose for five consecutive days.
Meisheng Cultural & Creative Corp.Ltd(002699) five consecutive daily limit
In early trading on Tuesday, the concept of meta universe rose again, Meisheng Cultural & Creative Corp.Ltd(002699) five board, Shunya International Martech (Beijing) Co.Ltd(300612) , Hubei Radio & Television Information Network Co.Ltd(000665) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Shanghai Luoman Lighting Technologies Inc(605289) and other collective trading limits.
With multiple hot spots, yuanuniverse has become the “topic king” in the recent market, and relevant concept stocks have soared and detonated A-Shares repeatedly. On December 14, the opening price was less than one hour, and the “Yuan universe leader” Meisheng Cultural & Creative Corp.Ltd(002699) rose the limit, which was Meisheng Cultural & Creative Corp.Ltd(002699) for five consecutive trading days, up 9.94% to 6.97 yuan / share.
Since the closing on December 7, Meisheng Cultural & Creative Corp.Ltd(002699) has increased by more than 60%, with the latest total market value of 6.3 billion yuan.
Behind the sharp rise in share prices, Meisheng Cultural & Creative Corp.Ltd(002699) got hot money speculation. According to the public trading information released on December 13, Meisheng Cultural & Creative Corp.Ltd(002699) was listed on the dragon and tiger list due to the deviation of 9.40% from the daily price increase. This is the third time in the last five trading days.
According to the data of the dragon and tiger list, Dongcai Lhasa business department ranked fourth and fifth, with a total purchase of 28.99 million yuan, First Capital Securities Co.Ltd(002797) (Beijing Xinjiekou North Street ranked first and sold 50.25 million yuan. There are hot money and retail seats on the list, with no institutional participation.
Behind the rising share price, it comes from the concept of the company’s meta universe. As early as October 28 this year, Meisheng Cultural & Creative Corp.Ltd(002699) responded to investors’ questions by saying, “the company began to layout AR / VR industry in 2015 and 2016, and yuanuniverse (Shenzhen) Industrial Group Co., Ltd. is a subsidiary of Meisheng Aibi.”
It is worth mentioning that the same uncle is a wholly-owned subsidiary of Meisheng Cultural & Creative Corp.Ltd(002699) . According to the semi annual report of 2021, the direct shareholding ratio of the company to Shenzhen Tongdao uncle Culture Communication Co., Ltd. is 100%.
just received a warning letter from Zhejiang Securities Regulatory Bureau
On December 10, Meisheng Cultural & Creative Corp.Ltd(002699) just received a warning letter from Zhejiang securities regulatory bureau.
The warning letter pointed out that the capital occupation of the controlling shareholder Meisheng holdings and its related parties, the pledge of the company’s certificate of time deposit to provide guarantee, the freezing of the shares of the controlling shareholder Meisheng holdings and its concerted actors, judicial auction and other matters were not considered and disclosed.
Among them, the concern is that Masson holdings and its related parties transfer Meisheng Cultural & Creative Corp.Ltd(002699) funds through foreign investment in 2020 and January September 2021, and there is occupation of non operating funds.
In 2020, the accumulated capital occupation was 483 million yuan. From January to September 2021, a total of 770 million yuan of funds were occupied. As of September 30, 2021, the balance of funds occupied was 468 million yuan.
Meisheng Cultural & Creative Corp.Ltd(002699) said in the reply to the inquiry letter of Shenzhen Stock Exchange on December 10 that Suzhou Xiucheng New Energy Technology Co., Ltd., Suzhou ruhoutong Network Technology Co., Ltd. and Suzhou Fengjing Trading Co., Ltd. are all new energy vehicle trading enterprises. After verification, the investment funds of the three transactions finally flow to the creditors of the controlling shareholders through the transferee.
Hangzhou Xiaozhu Interactive Technology Co., Ltd. is mainly engaged in the production and delivery of egg twisting machine. The company can use it to promote and sell IP derivatives and generate synergy with it. After verification, the investment funds of Xiaozhu technology finally flow to the creditors of the controlling shareholders through the transferee.
The above four investments constitute the occupation of non operating funds of the company by controlling shareholders and related parties, with an occupation amount of 238 million yuan.
previously, the controlling shareholder illegally occupied 1.5 billion yuan
Not long ago, Meisheng Cultural & Creative Corp.Ltd(002699) was warned because the controlling shareholders of listed companies illegally occupied funds.
Zhejiang Securities Regulatory Bureau issued the decision on Issuing warning letters to Meisheng Cultural & Creative Corp.Ltd(002699) and relevant personnel on November 5, announcing that Meisheng Cultural & Creative Corp.Ltd(002699) and chairman Zhao Xiaoqiang and other senior executives will be warned. The share price of Meisheng Cultural & Creative Corp.Ltd(002699) fell sharply on November 6, falling 9.19% close to the limit.
According to the disclosure, Meisheng Cultural & Creative Corp.Ltd(002699) has four major problems. First, Meisheng holdings, the controlling shareholder of the company, occupies the company’s funds in the form of indirect transfer.
According to the verification of Zhejiang securities regulatory bureau, during the period from January 2018 to March 2019, Masson holdings and related parties transferred out Meisheng Cultural & Creative Corp.Ltd(002699) funds totaling 1.538 billion yuan, and the balance of unreturned occupied funds by the end of 2018 was 1.245 billion yuan. The above occupied funds were returned on April 28, 2019, resulting in the untrue and inaccurate disclosure of financial data in the first quarter, half year and third quarter of 2018 of Meisheng Cultural & Creative Corp.Ltd(002699) .
Second, the acquisition of the same uncle was not announced in time. Third, illegal use of raised funds. Fourth, the performance “face change” was not corrected in time.
On February 28, 2019, Meisheng Cultural & Creative Corp.Ltd(002699) disclosed the 2018 annual performance express. It is estimated that the net profit attributable to the shareholders of the listed company in 2018 will be 136 million yuan. As of April 30, 2019, the company has not made any correction to the performance express.
However, after the annual report was officially released, the audited financial report for 2018 showed that the net profit attributable to shareholders of listed companies was – 230 million yuan, a decrease of 269.10% over the performance express.
Zhejiang Securities Regulatory Bureau believes that Meisheng Cultural & Creative Corp.Ltd(002699) did not timely consider the impact of the loss of long-term equity investment recognized in accordance with the equity method on the performance of listed companies, did not timely correct the performance express on relevant asset impairment matters, and did not timely correct the performance express.
The company’s profitability is not optimistic at present. According to the third quarterly report of Meisheng Cultural & Creative Corp.Ltd(002699) 2021, its revenue was 767 million yuan, a year-on-year decrease of 3.63%; The net profit attributable to the parent company was 52.8617 million yuan, a year-on-year decrease of 4.25%; Deduct non net profit of RMB 15.18831 million, a year-on-year decrease of 63.36%.
For the decline in performance, Meisheng Cultural & Creative Corp.Ltd(002699) it is explained that the decline in revenue is mainly due to the export of the company’s products and the decline in the exchange rate of the US dollar; The decline in net profit was mainly due to raw materials.
institutions are generally optimistic about the market potential of yuanuniverse
but beware of the risk of speculation
According to the calculation of Everbright Securities Company Limited(601788) , China’s market space will be 340-640 billion yuan in 2025. Among them, the lower limit of the market space range is estimated to be 340 billion yuan by analogy with various departments of the mobile Internet and summing up the sub fields of the meta universe (social networking, games, short video, online video, e-commerce and mobile office). According to the estimation of meta cosmic network effect by Metcalfe’s law, the market space is estimated to be 640 billion yuan
China Securities Co.Ltd(601066) Securities pointed out that the current virtual world Internet can be integrated with the physical world to a certain extent. People can entertain, socialize, work and shop through the Internet, but the real, convenient, diverse and efficient user needs have not been met. Since 2020, the changes in VR (virtual reality) / AR (augmented reality) hardware technology have started, or will gradually meet the real immersion needs of the real Internet.
According to Ma Huateng’s speech in 2020: “the door of the virtual world and the real world has been opened, and the next decade of the mobile Internet is committed to helping users achieve a more real experience”. At present, we may be on the eve of the generation of the real Internet.
But insiders pointed out that the current concept of the yuan universe is still in the early stage, and there is a big bubble in the two level market.
GUI Haoming, chief market expert of Shenwan Hongyuan Group Co.Ltd(000166) , said that the hype atmosphere of the meta universe market is very heavy, and the concept has been infinitely generalized. However, there is still a certain distance from the effective combination with the real economy. We should dialectically look at it and operate it carefully. Yang Delong, chief economist of Qianhai open source fund, also believes that yuanuniverse in the secondary market is still in the stage of speculation concept, and the investment risk is large.
Everbright Securities Company Limited(601788) pointed out that it is still in the early stage of the development of the meta universe. In terms of the current underlying technology, the comprehensive breakthrough of the meta universe revolution is still far away. Soochow Securities Co.Ltd(601555) believes that the development of meta universe is a long-term process, with the continuous development of computing power, algorithm, XR, communication and blockchain technology.
“The grand narrative should not be underestimated in the long term, and the rhythm of technological progress should not be overestimated in the short term.” Everbright Securities Company Limited(601788) think we should pay attention to three main lines: first, VR and AR industries are expected to usher in an inflection point; second, games bring profits as C-end killer applications; third, pay attention to the development of meta cosmic infrastructure such as computing power and AI. Tianfeng Securities Co.Ltd(601162) believes that metauniverse is the future elastic main line, hardware technology in VR / AR field takes the lead, and the medium and long-term content end is full of potential. It is necessary to continue to pay attention to the related targets of metauniverse industrial chain.
(China Fund News)
