Comments after reading:
I studied the prospectus for the first time last week and read it again this week. I feel obviously different. The difference lies in several places:
1. Last week, Shengguang was an A-share listed company. The whole prospectus is detailed, concrete and macroscopic, with high level, pattern and strategic design. This week Blue Cursor is a company listed on the Growth Enterprise Market. There are not many dry goods in the whole manual, and most of them belong to the contents of copying and pasting official documents. I feel that there are not many dry goods and it is not interesting to read.
2. Shengguang shares had a state-owned background before, and later turned into a joint-stock company; At the beginning, Blue Cursor was a multi-partner joint-stock company, with complicated ownership structure and complicated relationships among shareholders and between shareholders and affiliated companies. Later, it spent a lot of time trying to explain the financial situation of related affiliated companies and issuing companies in the form of financial statements.
What to read:
I. Company Profile
Introduction: The total share capital before this issuance is 60 million shares, of which 37,665 shares are held by five natural person shareholders, namely Zhao Wenquan, Sun Taoran, Wu Tie, Xu Zhiping and Chen Lianghua, accounting for 62.69% of the total share capital of the company before this issuance. According to the five shareholders on June 36, 438+February 0, 2008,
Area: Beijing
Industry: public relations industry, belonging to modern service industry.
Main business: It belongs to public relations services, and its core business is to provide brand management services for enterprises, mainly including integrated chain services such as brand communication, product promotion, crisis management, incident management, digital media marketing and corporate social responsibility.
Date of listing: The issuer will apply for listing on Shenzhen Stock Exchange as soon as possible after the stock is issued.
Registered capital: 60 million yuan
Legal Person: Zhao Wenquan.
Controller: five natural person shareholders, Zhao Wenquan, Sun Taoran, Wu Tie, Xu Zhiping and Chen Lianghua, hold a total of 37,665,438+02,865 shares of the company, accounting for 62.69% of the total share capital of the company before this issuance. According to the "Beijing Blue Cursor Brand Management Consulting Co., Ltd. and Joint Control" voluntarily signed by five people on June 65438+February 365438+ 10, 2008,
Second, the competitive situation
Industry competition:
1, the industry has a high degree of marketization and fierce competition. China's public relations is highly market-oriented, with many companies, small scale, fierce competition and high degree of dispersion. By the end of 2006, there were more than 3,000 professional public relations companies in China, with more than 654.38 million employees. Most public relations enterprises are generally small in scale. According to statistics, companies with less than 30 employees currently account for 62.5% of the total number of companies. Companies that have been operating for less than five years account for 54.7% of the total number of companies, companies that have been operating for five to 10 years account for 34.4%, and companies that have been operating for 10 years or more account for 10%.
2. It is a pattern of "domestic capital-foreign capital". The public relations market in China presents a competitive pattern of "domestic capital-foreign capital". In China, domestic companies and foreign companies (including wholly foreign-owned and joint ventures) have fierce competition in customer resources and human resources. The 2008 annual report survey of the public relations industry shows that in the past three years, the operating income of domestic and foreign-funded companies has increased rapidly, hand in hand, forming a pattern of "domestic and foreign capital" sharing the world equally.
3. Industry competition has entered the stage of integration. At present, China's public relations industry has entered the stage of merger and acquisition. With the deepening of economic globalization in China, more and more overseas public relations companies began to set foot in the domestic market, and the most common way for overseas companies to enter the domestic market is through mergers and acquisitions. In the past three years, foreign companies have merged with many domestic public relations companies, and with the arrival of the M&A upsurge of foreign companies, local companies have gradually realized the trend of industry integration and started to strengthen their own strength and expand their own markets through mergers and acquisitions. The whole public relations industry has entered the stage of industrial integration.
Third, risk analysis.
1. In the current development trend and technical evolution of advertising media, it is mainly soft and wide. In this case, how to deal with the SARFT and the ever-changing advertising law is an opportunity and challenge for a long time to come.
2. The advertising media industry needs to keep up with the social and economic trends, change its ideas in time and make various coping strategies in view of the ups and downs in future economic development;
3. In the Internet age, how much time and space do all kinds of offline media have to live? How to deal with all kinds of new games and challenges brought by the development of Internet technology is something that the whole industry needs to think and explore.
Fourth, strategic layout.
As a company in the same industry listed on 20 10, it has been more than seven years, but its right to speak in the industry can be said to be minimal. From the perspective of HR I am engaged in, there are very few employees in the market. After communicating with other departments, almost no one knows the existence of this company. Regarding the strategic layout of this company, I want to talk about some personal feelings:
1. This company belongs to the public service industry, and strengthening internal management and operation and human capital construction is the top priority. However, in terms of the use of raised funds, investment in fixed assets accounts for 67.23%, and most of the funds in fixed assets are used for office equipment rental, decoration and operation and maintenance of molecular companies across the country. Therefore, as can be seen from this prospectus, the company is a company that values assets and ignores operations;
2. In its "development plan for the next three years", the regional expansion plans mentioned are all self-built and self-operated, which greatly consumes management costs, operating costs and financial costs. If the planning of 20 10 still has its limitations, then today, the company's voice in the industry is extremely weak, which seems to prove something. Personally, I think: by acquiring affiliated companies in the industrial chain and vigorously developing the partnership plan, we can gain the leading edge in the industry at a very low cost;
3. The difference between public relations and advertising media industry is not deep enough. Today's advertising media industry is not simply spreading and interacting in newspapers, magazines and TV media, but its role has already risen to the fields of brand communication and marketing, crisis public relations and so on. At present, the difference between digital marketing, Internet media and public relations has become more and more subtle. In this case, the blue cursor should be laid out in advance, combining public relations with other related industries as a whole, and doing a good job in industry integration and mergers and acquisitions;
4.2065438+On June 5, 2007, I searched the recruitment information of "Blue Cursor" and its subsidiaries on major recruitment websites, and found that there is no competitive advantage in today's labor market in terms of positions, salaries and benefits. There are also few company introductions. As a large public relations/communication company listed in the industry, it can be said that its influence is too weak.
5. No effective measures have been seen in the cost control of suppliers. Although the suppliers are classified and there are some restrictions on the suppliers designated by Party A, personally, the effect of "delaying cost reduction" has not been achieved, not only in the engineering provided, but also in the accounting period and price.
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