game company Gibit released its third-quarter financial report and profit distribution plan last night. After reading it, investors have to sigh that it is really profitable and really rich!
achieved a net profit of 1.012 billion yuan in the first three quarters of this year, and the dividend scale was 1.006 billion yuan, and the dividend accounted for 99.45% of the net profit in the first three quarters. That is to say, all the money earned this year was distributed to shareholders, and the local tycoon was generous. The specific distribution plan was to pay 140 yuan for 10 yuan, which was equivalent to 14 yuan per share. The stock price at that time was only 240 yuan, which meant that the dividend rate was nearly 6%. Such a high dividend rate was extremely rare. After all, the interest rate for bank deposits for three years was only about 3%.
is exactly how profitable and generous Jibit has made its stock price directly hit the daily limit. For investors in the secondary market, there are really not many companies that are willing to pay dividends so much. Of course, Jibit also has a hot concept, that is, the affiliated company behind the recent popular game "The Sheep of Sheep", Jibit holds 20% of the shares of Beijing Jianyou Technology Co., Ltd., the research and development company of "The Sheep of Sheep", through its holding subsidiary, which means that Jibit will hold 20% of the revenue of "The Sheep of Sheep".
Gibit is a clear stream in the stock market, focusing on game business, and its money-making ability has been very stable. Since 2016, the company's net profit has been growing steadily, from 175 million in 2015 to 1.47 billion in 2021. The stable money-making ability has also made it a ten-fold stock. In 2017, it was listed on the Shanghai Stock Exchange main board, with an issue price of 54 yuan/share. By August 2020, it rose to a maximum of 643 yuan/share, up nearly 11 times.
However, after the stock price reached its peak in August 2020, the stock price also began to decline. By the previous few days, it fell to 232 yuan per share, down 64%, and the rolling price-to-earnings ratio fell to 13.4 times, basically falling back to the valuation level of the lowest stock market in 2018. From this perspective, Gibit is currently in one of the lowest valuation stages in history.
Gibit has not only enviable money-making ability, but also has always been the best among A shares , which is the best 2%. After five years of listing, it only raised 960 million yuan during its IPO, and has never raised additional issuances or share allotment funds since then. In the past five years, Gibit has accumulated dividends of 3.57 billion yuan, and its dividend is 3.7 times the financing. Currently, only 73 companies in A-shares have surpassed it, but these companies have been listed for a longer time than Gibit. Among the companies listed since 2017, only Gibit's dividend is 3.7 times that of financing. The financial data of
Gigabits is also very good. As of the end of September this year, there were 2.8 billion yuan of cash on the account. If transactional financial assets were added, the total cash was as high as 3.8 billion yuan, while the company's debt-to-asset ratio was only 30%, and the interest-bearing liabilities were extremely low. The undistributed profit was as high as 3 billion, and this time, 1 billion was divided, and there were still 2 billion undistributed profits in the account.
Many companies like to do things when they have money, and in the end they make the company less profitable, but Jibit is an exception. They are very focused on the main business of the game. In the five years since their listing, there have been eight acquisitions and mergers, of which 4 have been completed and 3 are in progress. These are the acquisition and merger activities that have been completed by
. In 2019, 45.46 million yuan was invested to increase the capital of Yiwan (Shanghai) Network Technology Co., Ltd., with the shareholding ratio increased from 4.54% to 6.20%. The purpose of this investment is still the main business of the game. In 2020, invested 50 million yuan in Xiamen Jixiang Tiancheng Venture Capital Partnership (Limited Partnership). In July this year, it invested 50 million yuan to subscribe to the share of Hangzhou Harmony Super League Phase 3 Equity Investment Partnership (Limited Partnership). In September this year, it invested 20 million yuan to subscribe to part of the share of Tianjin Haitang Venture Capital Partnership (Limited Partnership). These four investments totaled 165 million yuan, which is completely affordable for Gibit.
What are the acquisition and merger activities that are still underway? In 2018, we are preparing to acquire , Building , a certain real estate project in Xiamen, , with a total construction area of 14,400 square meters and a price of 375 million yuan. The average price is 26,000 yuan/square meter. What is the current price? Let's find a reference. The housing price of Xinjingyuan Community diagonally opposite the road of this building is 70,000 yuan per square meter. The building I plan to buy is close to the sea and has a better geographical location than Xinjingyuan. Judging from the commercial housing that you are planning to invest in, your vision is quite accurate.
In February 2021, it is preparing to invest 39 million to acquire 21.9% of the shares of Guangzhou Indra Software Co., Ltd. In April 2021, Jibit is preparing to sell the equity holding company Xiamen Celadon Digital Technology Co., Ltd. 10.11% equity to Tencent Venture Capital and other companies for a price of 303 million yuan. If the transaction is completed, Jibit's shareholding ratio will be reduced to 23.10% of the equity. If this transaction can be completed, it will bring the company 300 million yuan in revenue. What is very rare is that the company's goodwill is only 3.8 million.
Finally, one of the reasons for the high-divided Jibit is that the proportion of major shareholders is high, with major shareholders holding 30% of the shares, and the top ten shareholders holding a total of 60% of the shares. In other words, most of the cash for dividends will enter the pockets of major shareholders. It is also good to be a rich man without making trouble and focusing on the main business.
