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3818 阿里倒數炒賣區 人氣: 2116 回覆: 5


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鉛筆小生 (中華牌鉛筆)
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118.142.224.85
金錢: 25035.97
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我喜歡做預測:
2014 Q4, 科技, 賭復活

心水3-5 線股票
580 595 637 819

484 昔日看佢話起PLATFORM, 誰不知, 管理層不濟, 股價走下玻,

2014 2H 預測:
幾年有色巨浪要起了, 抓緊637 鋅大浪 ~鉛筆小生
普通會員
鉛筆小生 (中華牌鉛筆)
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118.142.224.85
金錢: 25035.97
帖數: 20629
GP: 2428
LV: 144
交易所: 6190000.00
http://online.wsj.com/articles/a ... e-street-1408428237


Bloomberg News
Investors looking for Alibaba treasure shouldn't forget that some of it lies outside the company's cave.

The promise of the Chinese e-commerce giant becoming the largest-ever initial share sale in the U.S. has already boosted the stocks of its major shareholders, Yahoo YHOO -1.02% and SoftBank. 9984.TO -0.80% But Alibaba has minor shareholders, too, which are often overlooked. One of these offers perhaps the best opportunity to play this IPO.

China Dongxiang Group 3818.HK +0.60% is a Hong Kong-listed sportswear maker with a market capitalization of $1.13 billion. In 2011, it spent $100 million to buy a 0.31% stake in Alibaba through a private-equity fund co-founded by Alibaba chief Jack Ma. This stake will certainly fetch more today. Dongxiang shares are up 17% this year in anticipation of the Alibaba IPO, yet that hasn't captured the company's overall worth.

Rapid Ratings President and CEO James Gellert takes a look at Alibaba and other hot IPOs on the horizon.
To calculate Dongxiang's full value, start with its sportswear business, anchored by nearly 1,200 Kappa-brand retail stores in China. Its peers currently trade at about nine times this year's estimated earnings before interest, tax, depreciation and amortization, as measured by FactSet. Slapping this multiple onto Dongxiang's sportswear line yields $199 million.

Next, Dongxiang sat on $178.3 million of cash as of Dec. 31, to which it has since added $4.8 million by disposing of shares in a U.S. apparel firm. It also owns bank treasury products, plus investment funds. These mostly liquid assets total $886 million. The company holds no debt.

Previous Alibaba Coverage
Heard: Alibaba Flops in Accounting for Acquisition Binge
Heard: Alibaba Has an Aim to Entertain
Heard: Alibaba's Silence Isn't Golden
Alibaba Buys Stake in Chinese Soccer Team
To this, add Alibaba. If Mr. Ma manages to get a $200 billion valuation, the higher end of market estimates, Dongxiang's stake comes to $620 million. That means the sum of this company's parts would be worth 52% more than its market cap, though that's before applying a discount for being a holding company and any possible taxes.

A more moderate $150 billion Alibaba valuation still leaves a 39% gap between the value of Dongxiang's assets and its shares. Even assuming Dongxiang's sportswear business is worth zero, and that its other investments are somewhat impaired, it still appears the shares undervalue the Alibaba stake.

Such a wide gap should close, as Alibaba's market value becomes apparent closer to its listing. Dongxiang says that it may unload some of its shares after the IPO. If it doesn't, the stock will likely become a smaller tracking version of Alibaba.

Unlike Yahoo or SoftBank, Dongxiang's regular business is less important to its overall value. That leaves Dongxiang's fortune hitched to Alibaba. The e-commerce giant doesn't even have to reach a supercharged valuation for Dongxiang investors to make out like bandits.

我喜歡做預測:
2014 Q4, 科技, 賭復活

心水3-5 線股票
580 595 637 819

484 昔日看佢話起PLATFORM, 誰不知, 管理層不濟, 股價走下玻,

2014 2H 預測:
幾年有色巨浪要起了, 抓緊637 鋅大浪 ~鉛筆小生
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Ghenea
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GP: -810
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普通會員
鉛筆小生 (中華牌鉛筆)
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118.142.224.85
金錢: 25035.97
帖數: 20629
GP: 2428
LV: 144
交易所: 6190000.00
李克强部署加快发展体育产业 3股望率先受益
http://stock.hexun.com/2014-09-04/168165595.html
国务院总理李克强9月2日主持召开国务院常务会议,部署加快发展体育产业、促进体育消费推动大众健身,提出放宽赛事转播权限制,推进职业体育改革,完善财税、价格、规划、土地等政策,支持体育企业发展等政策扶持措施。


中体产业  13.20  9.18%      
  业内人士认为,此是国家从产业角度为体育产业发展定下基调,未来体育产业的发展空间值得期待,中体产业(600158,股吧)、信隆实业(002105,股吧)、浙报传媒(600633,股吧)等公司有望率先受益。


[视频] 李克强主持国务院会议 发展体育产业
  多项支持政策将落地

  国务院常务会议提出,一要简政放权、放管结合,取消商业性和群众性体育赛事审批,放宽赛事转播权限制,最大限度为企业“松绑”。推进职业体育改革,鼓励发展职业联盟,让各种体育资源“活”起来,适应群众多样化、个性化健身需求;二要盘活、用好现有体育设施,积极推动公共体育设施向社会开放,在更好服务群众的同时提高自我运营能力。完善财税、价格、规划、土地等政策,积极支持社会力量兴办面向大众的体育健身场所设施;三要优化市场环境,支持体育企业成长壮大。加快专业人才培养。推动体育健身与医疗、文化等融合发展,大力发展体育旅游、运动康复、健身培训等体育服务业。

  放宽赛事转播权限制有望成为民企最先参与的领域。“奥运会、世界杯等最受关注的体育赛事,其转播权一直被央视垄断。以前,很多互联网视频企业都需要从央视购买转播服务。若放宽限制,这些互联网公司肯定会大举进入。而且,赛事转播运营市场空间很大,多家公司进入有利于良性竞争,提高观众的观看体验。”一家互联网公司体育频道相关人士表示。

  吸引社会资本进入公共体育设施建设领域,则将成为市场空间最大的领域。国家体育总局数据显示,目前我国经常参加体育锻炼人数达到4亿,但人均体育场地面积仅1.2平方米,远低于日、韩等周边国家平均水平,公共体育设施建设较为滞后。“仅以城市社区体育设施为例,每个社区建一个公共体育场地,全国600多个城市的需求缺口可能达到上千万个,保守估计资金投入上百亿,单靠财政资金无法完成。社会资本进入将是大趋势。”有业内人士分析称。

  据悉,相关部委在近期将出台更具体的政策措施,上述放宽民资准入,促进体育产业发展等多项扶持措施有望很快落地。

  事实上,财政部近日已经发文,将体彩中部分彩种的返奖率从69%提高到73%。分析人士称,这将有利于扩大体育彩票的销售量。

  产业规模或快速增长

  体育产业包括体育健身娱乐业、职业体育产业、体育用品业以及体育经纪业务等。门票收入、转播权收入、赞助商收入、商品开发收入是体育产业四种主要的盈利模式。

  国海证券(000750,股吧)研报指出,体育产业将成为下一个“金矿”。2010年美国体育产业总产值达到4410亿美元,占GDP的3%左右,是汽车产业的2倍、影视产业的7倍。而我国2008年体育及相关产业实现增加值1555亿元,仅占当年GDP的0.52%,差距非常明显。“差距意味着市场空间,随着政策支持和大众体育产业化发展,我国体育产业的规模有望快速增长。”

  在A股市场上,涉足体育产业的公司比较少,主要包括中体产业、信隆实业、浙报传媒等,这些公司或将成为政策的最先受益者。

  中体产业是国家体育总局控股的唯一一家上市公司,拥有体育基础设施建设、体育场馆运营、体育赛事运营、体育经纪、体育彩票等业务,后续或引入战略投资者。

  浙报传媒子公司华奥星空是体育系统内唯一具官方资质的新媒体,拥有互联网运营的各类牌照和资质,与相关项目管理中心及运动协会关系紧密,具备开发体育信息资源、开展项目互联网商务运作的可能。

  信隆实业作为国内领先的体育健身器材厂商,已经成功打入欧、美、日等地的健身器材市场,成为世界顶级品牌的合作伙伴。
我喜歡做預測:
2014 Q4, 科技, 賭復活

心水3-5 線股票
580 595 637 819

484 昔日看佢話起PLATFORM, 誰不知, 管理層不濟, 股價走下玻,

2014 2H 預測:
幾年有色巨浪要起了, 抓緊637 鋅大浪 ~鉛筆小生
普通會員
鉛筆小生 (中華牌鉛筆)
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avatar
118.142.224.85
金錢: 25035.97
帖數: 20629
GP: 2428
LV: 144
交易所: 6190000.00
Ghenea4樓提及
我冇貨, 諗諗吓要掃返幾球貨囉

勁, 掃幾球貨, 我最多得一球3818
我喜歡做預測:
2014 Q4, 科技, 賭復活

心水3-5 線股票
580 595 637 819

484 昔日看佢話起PLATFORM, 誰不知, 管理層不濟, 股價走下玻,

2014 2H 預測:
幾年有色巨浪要起了, 抓緊637 鋅大浪 ~鉛筆小生
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