The tourist network abandons the additional issuance and acquires the trademark infringement of Qingguo Lingliu.

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However, the acquisition was soon overshadowed by a notice on March 1 that Qingguo Lingli, the subject of the proposed acquisition, was sued for 3 million yuan in compensation for trademark infringement in the online game "Great War God".

it is understood that Qingguo Lingzhi was involved in a trademark infringement lawsuit because of the online game "Great War God" at the beginning of this year. At that time, the Internet said that it would not be affected to continue to promote the Qingguo Smart acquisition plan.

Youyu Network announced on Sept. 14 that it adjusted the non-public offering and deleted the 1.94 billion yuan fundraising project that bought 97% of the equity of Qingguoling, a developer of Web3D interactive entertainment software. It is understood that at the beginning of this year, Qingguo Smart was involved in a trademark infringement lawsuit because of the online game "God of War". At that time, the tourist network said that it would not be affected to continue to promote the Qingguo Smart acquisition plan.

< strong > the additional offering plan deletes the acquisition of Qingguoling < / strong >

You.com has planned to acquire Qingguoling through major asset restructuring as early as November 2015, and then transferred to the non-public offering plan in February 2016. it is proposed to raise 1.94 billion yuan to acquire 97% equity project of Qingguoling.

according to the audit, Qingguo Smart achieved a net profit of 56.94 million yuan in 2014 and 22.97 million yuan in 2015. Qingguo Smart promises that the net profit of returning home in 2016, 2017 and 2018 will not be less than 140 million yuan, 180 million yuan and 230 million yuan respectively.

however, the acquisition was soon overshadowed, with You.com announcing on March 1 that Qingguoling, the subject of the proposed acquisition, was sued for 3 million yuan in damages for trademark infringement in the online game "Great War God". According to the report, the travel network said at that time that it would not be affected to press ahead with the Qingguo Smart acquisition plan.

some analysts believe that mergers and acquisitions in the game industry are mostly based on IP layout, such as disputes over intellectual property rights will greatly affect the R & D capabilities of game companies. In fact, the game company due to infringement disputes led to restructuring failure cases have occurred many times, such as Deli shares terminated the acquisition of Guangzhou Chuangsi, Youli Holdings terminated the reorganization of Zhongqinglong Tu. So Youjiu game additional issuance plan to delete the acquisition of Qingguo Smart shares is related to this trademark infringement case?

Today, the reporter called Youyu Network as an investor, and the staff of its securities department said that this has nothing to do with Qingguo Smart Litigation, mainly because Qingguo Smart or want to have more room for independent development. After the acquisition, Qingguo Smart has become a part of the company, which is equivalent to synchronizing with the wandering network in terms of organizational structure and system. The way of independent development is better. The above staff also said that the current acquisition of Qingguoling stake in the project has been stranded, but the business cooperation with them will not be interrupted, and cooperation will be strengthened in the future.

< strong > the additional offering price is close to the secondary market share price < / strong >

the reporter noticed that in the revised version of the fixed increase plan released on September 14, in addition to deleting the items of Qingguoling equity acquisition, it also adjusted the number, price and target of non-public offerings. Taking 90% of the average stock trading price in the first 20 trading days before the pricing base date (September 14, 2016) as the reserve price, the non-public offering price is not less than 25.85 yuan per share.

on September 14, the closing price of the secondary market of Youzong Network was 26.75 yuan, which was close to the above additional offering price.

according to the fixed increase plan first released by Youzong Network on February 6, the issuance price is expected to be no less than 44.50 yuan per share, and the floor price is 79.47 yuan per share on March 29. On the evening of July 21, the tourist network revised the fixed increase plan, and after the distribution of rights and interests of 10 to 20, the reserve price of the issue was changed to 26.43 yuan per share.

then Youku's stock price fluctuated and fell, from 33.37 yuan on July 22 to 27.15 yuan on September 13, down 18.6 percent. The latest revised fixed increase plan released on September 14 shows that the reserve price of the issue is expected to be 25.85 yuan per share.

the reporter learned that when the stock price is close to or even upside down between the share price and the IPO price, the fixed growth items of some listed companies encounter difficulties. For example, Beichen Industrial has adjusted the IPO price many times because of its falling share price, but it has not yet completed the fixed increase during the approval period of the Securities Regulatory Commission; in the second half of 2015, many companies, such as Barfield shares and Furuitas, also stopped the fixed increase when the stock price was depressed.

at present, the stock price in the secondary market of Youku network remains low, will it affect the implementation of the fixed increase plan? In this regard, the above-mentioned personnel of the tourist network said that the current stock price should not have much impact on the additional offering plan, and the final fixed price has not yet been determined, and it needs to go through the process of market evaluation, consultation with the issuing object, and examination by the CSRC to determine the final price.

Edit: yvonne