Zhongqingbao turned into a demon stock? The stock price has soared 4 times and it is stained with “meta universe”. Is it hype that there is no VR-related patent?

Undoubtedly, Meta Universe is the hottest concept in the capital market recently.

Who is the leader of this market?

The game company Zhongqingbao (300052) deserves it.

At the end of August, Bytedance acquired the VR (virtual reality) start-up company Pico. The concept of Meta Universe entered the field of A-shares on a large scale. Zhongqingbao became the “most beautiful boy” in the concept sector at that time, and its stock price nearly doubled within a week.

At the end of October, the social media giant Facebook announced that it was renamed Meta, focusing on the establishment of “Meta Universe”. The concept of Meta Universe became active again. Zhongqingbao achieved “5 days and 3 boards”. In just half a month, the stock price doubled again.

On November 11, Zhongqingbao surged again, reaching as high as 42.63 yuan. As of the close, it was reported at 39.58 yuan, with a market value of more than 10 billion yuan.

Looking back at the end of August, Zhongqingbao’s stock price has not touched the 10 yuan mark. In more than two months, the company’s stock price rose by more than 4 times.

Zhongqingbao turned into a demon stock? The stock price has soared 4 times and it is stained with "meta universe". Is it hype that there is no VR-related patent?

Games are considered to be one of the important entrances of Metaverse, and institutional sources believe that the accelerated development of Metaverse may promote an increase in the valuation of the overall game sector.

Zhongqingbao’s selection by the market is due to the “meta universe” brewing game it will launch.

In an interview with a reporter from 21st Century Business Herald, the company once stated that the highlight of this game is “online wine making and offline wine tasting”, but this does not seem to be a concept with people’s ideal meta-universe that can achieve “virtual and real blending”.

At the same time, when responding to regulatory inquiries, the company has repeatedly emphasized that the company’s concept of meta-universe is relatively shallow, corresponding products are still under development, and the launch time and region of new games are also affected by many factors.

While promoting his meta-universe games on public channels many times, while emphasizing the uncertainty of the game’s launch, is Zhongqingbao a true leader or a hot spot?

Interestingly, a reporter from the 21st Century Business Herald found that at the time when the concept of blockchain was on fire in 2018, Zhongqingbao also said that it would combine blockchain technology with traditional games, which also attracted capital pursuit.

The current situation seems to reappear yesterday.

No VR related patents

The current meta universe is still in its rudimentary exploration stage and has certain conceptual features.

However, the layout around hardware products such as VR and AR and entertainment content is considered a reliable way to the meta universe.

The best scenario for Meta Universe to land is generally recognized as a game in the market.

Zhongqingbao is a veteran game company, and the real start of its market is from the news of the development of a meta-universe game published on the WeChat public account on September 6.

In this tweet, Zhongqingbao introduced the concept of meta-universe and expressed its commitment to creating a simulation business game that can map players’ inner world to meta-universe-“Brewmaster”: everyone in the game is a unique brewer Master, here players can choose how to operate the winery according to their own way of thinking, construct the world and operate the winery according to their own wishes and dreams.

Zhongqingbao turned into a demon stock? The stock price has soared 4 times and it is stained with "meta universe". Is it hype that there is no VR-related patent?

On September 7th and 8th, Zhongqingbao continued its 20CM daily limit, and its stock price doubled a week later.

Since then, Zhongqingbao has conducted risk warnings many times, and received a regulatory inquiry letter on October 25, requesting the company to explain the specific content of the game, the relevance to the meta-universe concept, the deployment of technical staff, the mastery of core technology, and research and development. Investment, R&D progress, product launch feasibility, expected launch time, market demand, etc., as well as the specific situation of VR/AR technology.

However, on October 27, after the company delayed responding to the inquiry letter, Zhongqingbao issued an announcement on the reduction of senior executives’ holdings. Senior executive Zhang Siqun planned to reduce his holdings of the company’s shares by no more than 10,500 shares through centralized bidding.

Under the “inquiry + reduction”, Zhongqingbao’s stock price fell briefly.

But on October 29th, with Facebook changing its name to Meta, the meta universe concept once again swept the A-share market. Zhongqingbao once again rose by the 20CM daily limit for two consecutive days. Since then, the stock price has doubled again. On November 4, Zhongqingbao received the inquiry letter again, but it still couldn’t stop the follow-up stock price from rising.

Is Zhongqingbao’s meta universe game reliable?

This is the question of many market participants, and it is also the core of the regulatory inquiry.

Let’s take a look at the company’s description of the game:

This kind of mapping is reflected in the wine brewed by the player himself in the game, which can be picked up offline. In other words, what players “pinch, match, and play” are no longer virtual items, nor are they virtual items such as gold coins and rewards that are common in games, but they can eventually get their own design and packaging. Unique physical liquor.

A person from the China Qingbao Securities Department once introduced to a reporter from the 21st Century Business Herald that the main highlight of this virtual reality game is “online wine making and offline wine tasting”. When asked about the development progress of the game, the person said that there is no latest news to disclose to the outside world. “There is no specific timetable for the launch, and it is uncertain whether the game will be launched.”

In addition, Zhongqingbao also stated that it will build the main scene of the meta-universe and use VR for visual presentation. However, when asked about VR-related technical reserves, the company stated that investment in VR products has always existed and has been applied in many projects.

However, according to available patent data, Zhongqingbao has no VR-related technology accumulation.

Wisdombud data shows that Zhongqingbao has 12 patent applications in total, and the earliest patent application was in 2009. The patent growth rate in the past three years is -83.33%, which is lower than the industry average. Moreover, the company mainly focuses on three-dimensional drawings, daily necessities, design methods, Chinese character generation, three-dimensional games and other technical fields. Two of the invention patents are still in pledge.

Entering the official website of Zhongqingbao, although the VR/AR column is specially opened in the business layout, there is no content when it is clicked.

Based on the above statement, “Master Brewer” is more likely to be a conventional nutritional game. The combination of virtual and real is only “online winemaking and offline wine tasting”, which does not have the free creation and creation in the meta-universe. Features such as real touch and VR vision.

Judging from other statements in the industry, Zhongqingbao’s game design ideas do not conform to the core of Metaverse.

Taking NetEase as an example, the company released an immersive activity system, using smart face pinching technology to generate virtual images for participants, so that each participant can have a unique image and a more immersive experience.

They tend to think that the value standard for measuring the meta-universe technology is very clear:

It is not whether a virtual new world can be created outside the real world, but whether it can solve real world problems by supplementing the real world.

If this is the standard, the question that Zhongqingbao’s “Brewmaster” needs to answer is how to use technology to enhance the real experience of the winemaking game, rather than using offline wine tasting as a supplement to the game.

Blockchain past

If it were not for the “emergency rise” of the meta-universe concept, Zhongqingbao would still be a little transparent in the game sector.

The company was listed on the Growth Enterprise Market in 2010 and is China’s first A-share listed game company.

Although holding the title of “the first stock of online games”, in the game sector, Zhongqingbao’s presence is very weak.

21st Century Business Herald reporters searched for research reports in Wind and showed that the latest research report on Zhongqingbao still stayed in 2016.

Behind the lack of market attention is the sluggish performance of Zhongqingbao.

From 2014 to 2016, Zhongqingbao’s non-net profit was at a loss.

In 2017, the deduction of non-net profit was only 195,700 yuan, in 2018 it was 27.89 million yuan, and in 2019 it was reduced to 1.898 million yuan. In 2020, the deduction of non-net profit loss was as high as 145 million yuan.

From the perspective of its main business, the company’s game business accounted for a gradual decrease, while the cloud service business accounted for a gradual increase. In the first half of this year, the former’s revenue ratio dropped from 89.7% in the previous year to 48.31%, while the latter increased from 10.11% to 47.81%. Its cloud service business mainly carried out some data center operation and maintenance work through subsidiaries.

Zhongqingbao’s transformation to cloud services or poor operation of its main game business. The 21st Century Business Herald reporter noted that of the 12 investment projects that Zhongqingbao promised to go public that year, 7 have changed their uses, including the 3D game “Allied Forces”, the 2.5D game “Three Kingdoms Ranger”, and the 3D game “Dream Garden” All of them were offline because they did not achieve the expected benefits.

Although the main business is not good, Zhongqingbao has a keen grasp of hot spots.

Prior to 2018, the concept of blockchain exploded. On January 10, an investor asked Zhongqingbao whether it was involved in the blockchain on the interactive e-commerce platform. The next day, Zhongqingbao quickly replied that the mining machine developed by the company’s controlling shareholder ( Digital currency mining machines) are selling well. On the 12th, Zhongqingbao’s share price rose to the limit. On the 15th, the supervision issued a letter of concern requesting Zhongqingbao to explain the relationship between the controlling shareholder’s research and development of digital currency mining machines, mining and the company’s business.

In the reply letter, Zhongqingbao also stated that it will no longer carry out research on digital currency mining, and will instead explore the underlying system based on blockchain technology. At present, the relevant business is still under planning and no actual income has been generated.

At the same time, Zhongqingbao also proposed a development plan for blockchain chess and card games. The expected development time is 3-6 months, and it is expected to be released in Southeast Asia.

But in the 2018 annual report, the company did not mention blockchain. Until the 2019 annual report, Zhongqingbao finally disclosed a blockchain business related transaction that occurred in December 2019: the company’s wholly-owned subsidiary Baoteng Internet and the related legal person Doujiu Liquor signed a blockchain + smart wine For the software development contract of the factory project, Doujiu Winery paid 4 million yuan in software service business expenses.

According to the official information released by Proton Internet in November 2019, it has successfully signed a ten-million-level cooperation agreement with Jinsha Ancient Wine, and the project is in the implementation phase. The magnitude of the cooperation announced by the two is far from each other.

A reporter from the 21st Century Business Herald inquired about Zhongqingbao’s WeChat official account article and found that another subsidiary of Zhongqingbao, Shenzhen Leadchain, also stated that it has launched a blockchain cooperation with Jinsha Ancient Wine. According to Qixinbao data, Jinsha Ancient Wine is a wholly-owned subsidiary of Doujiu Liquor. In other words, the two blockchain cooperations with the winery are all “owners” in the transaction.

In fact, the regulators have always been concerned about the risk of China Qingbao’s stock price speculation. On September 24, 2019, Zhongqingbao received a letter of concern from the supervision of its involvement in blockchain-related concepts, requesting it to explain whether there is a risk of speculation. Just like the current situation, on September 27 of that year, the controlling shareholder, actual controller and persons acting in concert in Zhongqingbao announced their shareholding reduction plan. 

In 2020, the description of blockchain in the annual report of Zhongqingbao will increase, and subsidiaries will be frequently added.

The reporter noticed that in January of that year, the company established a subsidiary Blockchain Promotion Center, but it was cancelled in March, and then a subsidiary Blockchain Promotion Association was established in April. According to the company’s data disclosure in the annual report, the newly established blockchain promotion will affect the annual performance loss of 1,907.98 yuan. What does this promotion that cause such a small loss do?

The reporter found through Qixinbao’s inquiry that the main business of this company is actually to organize members to carry out blockchain business seminars and related forums.

Institutions, hot money, and retail melee

At the moment when the concept of meta universe is extremely hot, what is different from the previous hype in the magic stocks is that behind Zhongqingbao not only the hot money figure, but also the institutions can not withstand the temptation to frequent frequent entry and exit, presenting a situation of hot money, retail investors, and institutions.

On September 9, the well-known hot money “Ge Sun” seat CITIC Securities Shanghai Liyang Road bought 35 million yuan, ranking first in the buying list. Oriental Fortune Lhasa Tuanjie Road is the second largest retail investor, and Oriental Fortune Lhasa Donghuan Road is second, ranking third and fourth on the buying list, respectively.

On September 10th, I bought a special seat for the existing institutions, bought 19.36 million yuan and sold 16.1 million yuan. The retail seat of Oriental Fortune Lhasa Tuanjie Road No. 2 continued to participate in depth, buying 18.39 million yuan and selling 19.2 million yuan. Huafu Securities Xiamen Jiahe Road, which bought the second place the day before, began to sell, ranking first with 24.77 million yuan in sales; Essence Securities Shenzhen Kefa Road, which bought fifth place the day before, sold for 17.97 million yuan. Ranked third.

After September 13th, a number of well-known hot money appeared, such as “New Hand” Guotai Junan Nanjing Taiping Road, “Brother Zhao” China Galaxy Shaoxing, “Sunge” CITIC Securities Shanghai Liyang Road, and “Chengdu Gang” Huatai Securities Chengdu Shu Jinlu, the top hot money Industrial Securities Shaanxi branch, etc. frequently appear in the Dragon and Tiger list.

An outstanding phenomenon is that since November, institutions have frequently entered and exited Zhongqingbao.

On the 1st, institutional seats bought 69.77 million yuan, ranking first in the buying list; on the 4th, institutional seats were sold for 30.07 million yuan; on the 9th, institutional seats were bought for 39.17 million yuan. Sold 31.27 million yuan.

Retail investors are still actively participating. Oriental Fortune Lhasa Tuanjie Road is second, Oriental Fortune Lhasa East Ring Road is second, and Oriental Fortune Shanghai Changning District Jiangsu Road has frequently appeared in the Dragon Tiger list for days.

However, foreign capital seems to leave early. On September 8th, Zhongqingbao’s 20CM daily limit, but the Long Tiger List data showed that the QFII seat Shenwan Hongyuan Xinchang Road, Huangpu District, Shanghai, sold 4.26 million yuan.

Judging from the data of the Dragon and Tiger rankings of Zhongqingbao, the funds flow in and out of the hot money seats are very fast, and they have begun to fall hands frequently. Although institutions are jealous to participate in it, they basically buy and sell, making profits and fleeing.

When the tide recedes, who will be the final taker? The result is self-evident.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/zhongqingbao-turned-into-a-demon-stock-the-stock-price-has-soared-4-times-and-it-is-stained-with-meta-universe-is-it-hype-that-there-is-no-vr-related-patent/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Leave a Reply