A big inventory of blockchain concept stocks: Can it really go up if it catches on the hot spots? (US and Hong Kong stocks)
Editor's Note: This article comes fromblock rhythmEditor's Note: This article comes from
block rhythm
(ID: BlockBeats), author: 0x20, reproduced with authorization.
What happened to those listed companies that took advantage of blockchain hotspots at the beginning?
2017 is a year of rapid development of the blockchain market. Whether it is the regular army that has been listed or the motley army that has raised funds through ICO, they have achieved good results last year. However, after entering 2018, the concept of blockchain suddenly encountered a double cold wind in the market and policy, and the concept of blockchain suddenly became unpopular.
Block Rhythm BlockBeats is trying to review the performance of the regular army of stock market trading after entering the blockchain last year. Analyst 0x20 sorted out the data and annual financial reports of dozens of US stock blockchain concept companies and Hong Kong stock blockchain concept companies. First It was found that less than 50% of the companies actually implemented the blockchain technology, and more listed companies did not apply the blockchain technology.
The study found that after a listed company announces its participation in the blockchain industry, it will generate huge positive news for the company's stock price. In the research of BlockBeats, we found that after the listed companies announced the application or development of blockchain technology, their stock prices rose sharply in a short period of time. %.
The blockchain listed companies that are really doing things have actually been working hard to actively promote the research and development and application of the blockchain. Their stock price fluctuations are not large, reflecting the true performance of the market. This concept of blockchain concept stocks is very likely to be removed from the investor's watch list after experiencing the hype in the market and then quickly turning cold.
In this block chain concept farce of US stocks and Hong Kong stocks, who directed this scene, and who made money?
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Analysis of typical U.S. stock blockchain concept stocks
This is in stark contrast to the actual performance of blockchain concept stocks counted by BlockBeats. According to the statistics of BlockBeats, it can be seen that the stock prices of US stock blockchain concept stocks have basically returned to the original point after experiencing a large increase at the end of 2017 and the beginning of 2018.
We selected Xunlei, Netease and Renren to analyze three representative companies in the U.S.:
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Thunder[XNET]
Although Xunlei has made a lot of money by relying on blockchain and CDN hotspots, and its income has soared, the off-market price of LinkToken has fallen again and again, making retail players who use Wankeyun for mining unable to sit still. On September 4th, the Onekehou community, together with Meng Xiaozhu and New Media Chain, carried out a hard fork on LinkToken, stating that the emergence of WKH (Wanke Cash) is to improve the LinkToken ecosystem and contribute to the LinkToken ecosystem. Those who make contributions will be rewarded.
Xunlei has not yet given a positive response to the hard fork behavior of the user community.
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NetEase [NTES]
NetEase and Ding Lei can be said to be one of the most active Internet players in the blockchain field.
NetEase launched the NetEase Odaily APP at the beginning of 2018 when the blockchain concept was at its hottest, and the number of daily active users reached one million in less than a month after its launch. Recently, the "shopping", "mini-games" and "finance" functions have been launched in the APP, and the official public beta will be launched on September 5. However, it seems that NetEase Odaily APP is just a traffic portal, mainly for NetEase’s own products such as NetEase Cloud Music and NetEase Yanxuan, or to charge commissions for third parties such as Taobao.
In May, NetEase quietly launched the blockchain information app "Yitoutiao", which was taken off the shelves after 3 weeks.
Ding Lei himself has also been involved in the blockchain field, and the sources of information mainly include some rumors and media reports. At the beginning of 2018, it was reported that Ding Lei spent 1 billion to buy 96,000 bitcoins. Later, Ding Lei refuted the rumors in his circle of friends and said, "I have never owned a single bitcoin from the beginning to the end."
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A group photo of Ding Lei and Mao Zhihong
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Renren Company[RENN]
At the beginning of 2018, Renren entered the blockchain and digital cryptocurrency industry by releasing RRCoin, and its stock price soared by nearly 25%.
At that time, RRCoin called for private investors to conduct blind investment without even having a white paper. Afterwards, news spread that Renren’s RRCoin was interviewed by relevant departments, and the proxy investors who participated in the private investment began to withdraw their coins. The farce ended in just 5 days. Its approach at the time was more like playing a private equity game in response to the blockchain hotspot. Renren did not have a clear layout of the blockchain. Renren was interviewed at the beginning of this year as a signal that supervision began to start. Since then, listed companies related to the blockchain have no public coin offerings.
On April 30, Chen Yizhou split up Renren in a shareholder dividend plan submitted to the SEC, splitting the shares held by Renren in 44 companies including small loan companies SoFi, Xueqiu and CHIME, etc. Interests in 6 investment funds and the advertising agency business operated by Renren subsidiary, the most valuable assets were spun off from the listed Renren company, and only the major shareholders were protected in the process Interests.
This is equivalent to extinguishing the possibility of Renren's final profit. As soon as this news came out, the stock price of Renren.com fell by nearly 15%, and the already sluggish stock price fell again, making the already bad interests of small and medium shareholders even worse.
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Analysis of typical Hong Kong stock blockchain concept stocks
Compared with the large gains brought to US stock companies after the announcement of the blockchain concept news, only two companies in the blockchain concept stocks of the Hong Kong stock market gained a large increase after the news was disclosed, and the stock prices of other companies did not change much. Companies advancing blockchain business progress account for the majority.
We selected three Hong Kong-listed representative companies, Meitu, Linekong Interactive and Tongcheng Holdings, for analysis:
Meitu Inc. (01357)
After Xunlei and Renren, Meitu also hopes to issue coins to enter the blockchain field. Meitu released a white paper on January 22, 2018, stating that it will establish a "By creating a decentralized, secure and encrypted identity pass for users "Meitu Smart Passport" to connect the digital world and the real world". failed to materialize.
Then there was news that Cai Wensheng formed a BEC beauty chain team and issued the token BEC coin of the BeautyChain project. What is interesting is that the circulation market value of BEC currency once reached an astonishing 22 billion when it was listed and traded.
Although Cai Wensheng refuted the rumors about the relationship between Meitu and Meilian in the circle of friends, under the investigation of the media, everyone found that BEC and Cai Wensheng are inextricably linked. BeautyChain (also known as BeautyChain), the name of the token issued by it is BEC (also known as BeautyChain). Its partners include the strategic partner BeautyPlus, which is the overseas version of Meitu’s beauty camera, and another partner is called BEC Wallet. Currently, BEC holders can withdraw coins to the BEC Wallet. Users can now trade BEC on platforms such as OKEx. OKEx is a product of OKCoin, and Cai Wensheng is a shareholder of OKCoin.
In addition, the media also discovered that the domain name of beauty.io was registered by Cai Wensheng’s sworn brother Cai Baozhong, and the contact information left during the registration was the email address of ccnn.com founded by Cai Wensheng and Cai Wensheng’s old partner Zhang Li. The relationship between Cai Wensheng and BEC is self-evident. After this relationship was exposed, Cai Wensheng never mentioned BEC and the US chain project.
In April of this year, BEC was revealed to have a smart contract loophole. The same overflow bug could wirelessly issue additional BEC Tokens. Hackers even flowed some dirty coins into the digital cryptocurrency market for trading, causing the price of BEC to plummet, and the value of BEC almost returned to zero. So far, BeautyPlus has terminated its cooperation with BeautyChain.
Linekong Interactive (08267)
Linekong Interactive started out as a computer online game. In 2013, when the Internet boom came, it transformed into a mobile game. After its listing, it expanded to the pan-entertainment field such as film and television animation in 2015, and then expanded to the hardware field. I have been transforming, and I have been pursuing the trend, but I am exhausted, and the results are not satisfactory.
In 2018, the trend of the blockchain came, and Wang Feng led the team to pursue the trend of the blockchain, and this time caught up. The blockchain media platform Mars Finance has completed the A+ round of financing within 4 months of its establishment, with a valuation of 330 million yuan, and a large number of exclusive interviews and the column of "Wang Feng Ten Questions" have made Mars Finance very popular and become the leader of the entire blockchain media circle. One of the most watched media platforms.
On June 15, 2018, at the shareholders meeting of Linekong Interactive, the founder Wang Feng announced his resignation from the CEO position to concentrate on supporting the company's development as the chairman. What was announced along with the resignation statement was that he decided to transfer 15% of the shares of Mars Finance (Wang Feng 13.39%, Liao Mingxiang 1.61%) to Linekong Interactive for free. At present, Linekong Interactive is the largest shareholder of Mars Finance, while Wang Feng is working hard to pursue his dream in the blockchain world.
On the other hand, Linekong Interactive, the largest shareholder holding 15% of Mars Finance, has been hovering around HK$1 per share. Its current market value is HK$254 million, which is only two-thirds of Mars Finance’s valuation.
After "persuading peace" between Li Xiaolai and Chen Weixing on July 12, Wang Feng retired for nearly a month and a half, and restarted Wang Feng's Ten Questions in early September.
Tongcheng Holdings (01611)
Tongcheng Holdings was recently acquired by Huobi Group Li Lin and Fission Capital Teng Songrong. The capital market generally believes that this acquisition is for the future Huobi Group to be able to go public through a backdoor, but the possibility of a backdoor listing has yet to be confirmed.
Before the acquisition, the capital market had obvious expectations for Tongcheng Holdings to become a shell stock. First of all, Tongcheng Holdings is not a well-known company and is relatively unknown; second, the company’s market value is also lower than the general shell price of Hong Kong’s main board companies; third, the company’s stock price has not changed much before the acquisition, and its market value is relatively stable; fourth, the company has a certain However, the general environment has led to the decline of the entire industry; finally, the equity is concentrated, and the major shareholder Xu Naicheng owns more than 70% of the equity. These circumstances make Tongcheng Holdings very suitable for shell stocks.
Relevant professionals are not optimistic about the Huobi backdoor, saying that such a major equity transfer of a listed company must be approved by the Hong Kong Securities Regulatory Commission, and Huobi may not be able to make an exception for local supervision.
Some people also suspect that there is another purpose behind Huobi’s high-profile acquisition of Tongcheng’s shares. It is believed that due to the impact of this acquisition, the prices of Tongcheng shares and Huobi’s platform currency HT have increased significantly, so it cannot be ruled out that the two parties (Tongcheng shares and Huobi) are marketing actions to boost market value.
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With the concept of blockchain, how are listed companies doing?
In addition to several typical cases mentioned in the article by Block Beats, there are many listed companies that announced their participation in the development and use of the blockchain. The market performance was mediocre. After the news was announced, the stock price rose to a certain extent and lasted for a period of time. However, with the correction of the overall market, the stock price of such listed companies basically fell back to the original price in the data sheet.
