This often causes us more passive ". Ding Lei

All of the past three days, as well as film, focus (Nasdaq:FMCN) Ji Hairong, Vice head, as has just happened. On November 22, Ji Hairong receives focus Board Chairman and CEO Jiangnan spring calls calls for counterattack programme for muddy water. Focus stock of the day under the influence of muddy water studies, tumbled almost 40%。 However. Begin immediately responded with, including holdings of positive responses, such as stocks, focus stock price back up the next day. 　　Main capital stocks (eleven-twenty fifths) unit fled to cut meat must regret having sudden boom is not likely in a move investors Gospel: hold stocks saved! And Southeast facilities had previously been short, and Chinese concepts of tragic huntUnit is different, focus, as well as the previous 360 companies, when faced with questions such as news, selected firmly repelled. "Empty" assaulting units in Ji Hairong said: "empty" unit behind the attack, there is a complete chain of interests. Normal mode is: some institutions or individuals jointly with the investigative bodies, before publishing short reports, from some institution borrowed stock "sell"。　　Short body after the report is published, the target company shares fell, participating agencies or individual "low purchase price" share price return of the borrowed stock, so as to earn the middle of the price difference. Wang Ran ECAR capital said short in the United States capital markets more common. Of course, shorting can also be risky hunting "was cut by Eagle eye" of the time. One investment banker said, there was one friendFriends in the United States to study, to bet against her profession after graduation. Learned from the relevant channel a few years ago, a Chinese Internet giant could face negative information exposure, so immediately started with borrowed stock agencies. But surprise surprise is that the anticipated negative information is not on schedule, and during the Internet company's stock price rose, and had to pay stock returned to the body, takeBetween the loss is not small.　　In this regard, Ji Hairong said: this is a "listen to the message, wrong time" results.　　This round of "empty" attack, short bodies if you include the time, profits should bowl full, because the Chinese Internet stocks was attacked so far, all of its shares fell, including focus, 360, news. Internet critic Fang XINGEast: "empty" killing effect of the attack is so great, is caused by asymmetric information, such as 360, focus media in the United States does not have similar business models, so the United States investment is hard to understand, are the cause of muddy water short the comparison of reported effects. Fang xingdong believes that "leading companies are currently short the body short report deeply flawed. "Muddy water, according to the report focusIts LCD screen overvalued by about 50%. Ji Hairong explained: focus screen consists of two parts, namely, LCD display-building advertising, including first-tier cities 29,707 LCD screen, flat posters 16,118 subtotal, 45,825; second-tier cities 56,301 LCD screen, flat posters 45,979 subtotal, 102,280; 30,018 city three or four line LCD screen, flat posters 259, subtotal 30,277 total 178,382.　　But muddy water only statistical number of their LCD screens, formation of confusion. Hongwei Zhou, Chairman of 360 when interviewed by this reporter believes that Citron, which criticizes 360 "specious". CitrOn reported swtor power leveling, qihoo 360 to exaggerate the performance of the company, cut 360 price target to $ 5, lower than stock price US $ 18 75%.　　360 said he has "more than 300 million active users", "80% per cent penetration rate", "is the third largest Internet company in China". Citron reference Google's Double CLICK Ad Planner data says, 360 PCs have Internet coverage forecast 360 users only 30 million to 40 million. Fact is just Double click Ad Planner statistics 360.CN traffic. Fang xingdong believes that shorting the company is "have been understood pretend not to know" malicious attackHammer. "Revaluation" United States stock market value and have been compared to the benefits of Chinese Internet stocks face a situation can be "bleak" to sum up. Focus is short, stock prices fell on that day, China concept stocks all fell.　　Powerzinc capital An Xin believes that in the current market environment many overseas-listed company, PE values even lower than the net worth. One side is the investigative bodiesShort, while the capital markets are deflated, stocks go from here?　　Wang Ran believes that choice is twofold: first, with United States capital markets said goodbye, privatization of delisting, looking for a better environment; second, adjusting psychology, accepting the rules of the game. Just as the focus stock was short, Gala networks announced privatization transaction protocol, Chen Tianqiao, parent company controlled by the family on a perUnit price of US $ 41.35 Shanda networking all remaining stock.　　Timothy Chen for the United States capital markets was palpable discontent early, he believed that "Wall Street did not know the Grand", he also didn't want to "talk behind Wall Street perform to SB. 's baton". Grand network will return to the a-share rumors.　　In response, the Grand fails to respond. For big privatization, ECAR capitalCEO Wang Ran: "Timothy Chen road you choose, are for all overseas-listed Chinese Internet companies exploring in the future. "Timothy Chen also held the same views are Sohu Board Chairman Zhang. Sohu in the latest quarter results at the meeting, Zhang said when interviewed by this reporter, "Wall Street temporarily blind". He kind of emotion that: "the deer and the cauldronDid not seem to see hot, Sohu video leader is looming (youku), dog in an explosive growth phase, none of these seem to giving due value. "NetEase CEO Ding Lei has repeatedly expressed discontent over Wall Street," went to the United States listed it means that the transparent operation of the company, such as NetEase must each quarter announced its own detailed financial data,This often causes us more passive ".　　Ding Lei, even in an earnings asked institutional analysts, business and you do not know NetEase, "was more than my wife asks, so what?"　　Baidu CFO Li Xin晢 has called for the International Board rules, facilitate the return of Baidu shares. In fact, as of October this year, only PE participating in overseas listing of Chinese enterprisesCase of privatization, in the United States listed Kang, Peng chemistry, Dalian Fushi group, Pacific Electric, CFE and the Singapore-listed the new technology.　　An Xin believes that seek privatization delisting of overseas listed Chinese companies, some of them are met with some problems, but underestimated the value is the main reason for the privatization of power. Adult ceremony short body almost share victory inDoes not mean the failure of the target company.　　In the attack on five companies are currently short bodies, Spreadtrum, 360, divided after the plunge of stock prices in the short term return to normal. And the South East combination and Skaj is short compared to the dilemma, encounter of Spreadtrum, 360, the focus is entirely different.　　Wang Ran says reason is that these companies have excellent performance. Focus suffered air raidsJust released third-quarter earnings before, results showed that its third quarter net revenues of us $ 210.7 million, an increase of 53.3%; a net profit of $ 62.2 million, compared with the previous quarter's $ 42.8 million rose 45%. On November 23, fosun international exchange announcement saying in Hong Kong, the company in United States on November 22 in the open market and downgradesFunded US $ 10.35 million for 602,700 shares United States depository shares (ADS) the old republic power leveling, ADS costs about US $ 17 per share.　　After this round of overweight, fosun International holds 22.2156 million shares in total focus media ADS, equivalent to focus media total issued share capital of 16.42%. 360 in the face of "empty" attacked two weeks after the earnings announcement, his place ofHigh innovation of income, to $ 47.49 million, an increase of about 207%; net income of $ 10.9 million, an increase of about 186%.　　In the context of Chinese concept stocks lower collective, focus, 360 outperformed shares suffered after the air raid as a whole, does not appear so-called "avalanche". Short, will share why respond? WeekHon 祎 said when interviewed by this reporter: now that enter the United States capital market, you have to accept the rules of the game.　　Ji Hairong said: the United States more normal, rational look at this thing, other people's choices will not affect the focus. Consultation is looking Lubbe look, Chief that, in the face of short body, in the unit has two options, or privatization after the buy-back of domestic listed, orTalk to resolutely counterattack by a performance, the performance is fundamental. Lubbe hope that: except for shares in collective underestimation, as some companies encounter outside the air raid, new generation of Internet companies in the United States listed or delayed or cancelled, attest to the "United States operation mode, United States venture, a quick listing of the Silicon Valley model have failed", to return to the fundamentals of the Internet in China, convinced investors to performance, whichAlmost unit is "adult ceremony".