10 million shares locked down with limit down: over 600 million funds' floor price 'crazily fleeing

GuoMai Culture "records another board," but it's a limit-down board, with over 1 billion yuan of capital frantically leaving the market...On February 29th, GuoMai Culture (600640) opened at the limit-...

GuoMai Culture "records another board," but it's a limit-down board, with over 1 billion yuan of capital frantically leaving the market...

On February 29th, GuoMai Culture (600640) opened at the limit-down price, and at one point during the session, the limit-down board was briefly opened, only to be sealed again; by the close, the stock price was reported at 16.76 yuan, with the limit-down board orders exceeding 100,000 hands, and the day's transactions exceeding 1 billion yuan, among which more than 380,000 hands were traded at the limit-down price, with a transaction volume exceeding 600 million yuan...

Data shows that after recording a one-word limit-up board on February 19th, its stock price embarked on a journey of limit-up boards, until February 28th, it had consecutively hit the limit-up for 8 trading days, with a cumulative increase of over 114%.

In the announcement of unusual stock fluctuations, GuoMai Culture stated that after self-inspection, the company's current daily operation is normal, and there have been no significant changes in the main business and business model. There have been no significant adjustments in the market environment or industry policies, and the internal production and operation order is normal.

At the same time, the company or the controlling shareholder does not currently plan any major asset restructuring, share issuance, acquisition... asset injection, introduction of strategic investors, and other major matters involving the company.

As for some media listing the company as a Sora concept stock, GuoMai Culture also stated that the company's main business does not currently involve Sora business; and the company's AIGC-related technology is only in the initial stage of internal trial use, with a limited scale of early investment, and it does not have a significant impact on the company's operating performance in the short term, and there is still a lot of uncertainty in the subsequent development.

Data shows that GuoMai Culture's main business includes video business, game integration and expansion, digital rights operation, corporate comprehensive services, and hotel operation business, etc., and it is a company under China Telecom that specializes in digital content operation.

In recent years, GuoMai Culture's performance has not been ideal...

Financial reports show that in 2018, GuoMai Culture's net profit once reached 262 million yuan, and in 2019 and 2020, the company's net profit dropped to 142 million yuan and 10.31 million yuan, respectively, with a significant decline for two consecutive years, and in 2020, the company's net profit after deducting non-recurring gains and losses was -65.6 million yuan.In 2021, Guomai Culture achieved a revenue of 4.611 billion yuan, while the net profit attributable to the parent company suffered a loss of 354 million yuan. This was mainly due to the ongoing fluctuations of the pandemic, which had an adverse impact on the company's hotel and cultural tourism businesses. At the same time, the company's strategic transformation into businesses including 5G applications and digital services was still in the market introduction phase, with significant investments and relatively slow scale development, resulting in a short-term loss situation; coupled with the provision of related impairment losses, etc.

However, in 2022, the company's revenue decreased to 3.511 billion yuan, and the net profit still suffered a loss of nearly 200 million yuan, but compared to the previous year, there was a significant reduction in losses.

According to the 2023 performance forecast, Guomai Culture estimates that the net profit for 2023 will be between 4.2 million yuan and 6.2 million yuan, and the net profit excluding non-recurring gains and losses is expected to lose between 29 million yuan and 45 million yuan.

In response, Guomai Culture explained that the company's net profit attributable to the parent company and the net profit excluding non-recurring gains and losses have both improved significantly year-on-year. This is mainly due to the company focusing on its main responsibilities and core business, optimizing the business structure, and deeply cultivating key products to enhance the contribution of high-value business benefits. At the same time, through cost reduction and efficiency improvement, as well as the sale of some equity to achieve increased profits year-on-year.