2 The name of the listed company is changed , Science or metaphysics ？

source ： Snow leopard finance and Economics （ID：xuebaocaijingshe） author ： Hanxing

Change your name , It's like rebirth . In order to get a good name , Executives of listed companies hesitate .

Some are to catch up with the wind .6 month 15 Japan , establish 7 Yingke, who has been around for more than years, officially changed its name to yinguniverse , The trumpet of marching into the yuan universe is sounded with great fanfare . During the press conference , The company's share price once rose nearly 13%, The day closed up 6.77%.

Some are to throw away the burden .6 month 22 Japan , Mainly engaged in third and fourth tier cities K12 Tianli education, a Hong Kong listed company of Education , Officially renamed Tianli International Holdings . But the capital market does not buy . The effective date of the renaming , The company's share price fell 2.48%, And fell in the next two trading days 11.02% and 2.86%.

According to the Hong Kong Stock Exchange , By 2022 year 6 month 27 Japan , Hong Kong stocks had a total of 106 Article company name change announcement and notice , involve 70 Multiple listed companies .A Stock side , According to Oriental wealth statistics , By 6 month 23 Japan , except “ Wear a hat ”“ uncap ” Other than passive renaming , Listed companies that actively changed their securities abbreviations and have taken effect during the year include 33 home .

The purpose of renaming is “ Change life ”, But in the capital market where rationality and fanaticism coexist , No one can guess the ending 100% .

01 Strategy or metaphysics

In the eyes of investors , The name of the listed company is like the tip of the iceberg , It is the presentation of the company's core business . The change of name may mean a major adjustment in the strategic direction of the company .

Apple is the listed company with the highest market capitalization in the world , Little known is that , Now it will be iPhone、iPad、Mac、AppleTV Wait for apple to catch all its intelligent hardware (Apple Inc.), stay 15 Years ago, its name was Apple Computer Company (Apple Computer,Inc.).2007 The name of the year , Obviously, it is impossible to accurately describe today's apple .

The upsurge of the primordial universe hit , Many listed companies have changed their names , Send the message of changing course to the outside world , But the capital market has reacted differently .

2021 year 10 month 28 Japan , It has been established for more than 17 Year of Facebook Officially renamed Meta, Completed the last step of strategic transformation . Zuckerberg Facebook Connect In the said ：“ From this day onwards , First of all, we are yuanuniverse company Meta, Not just social platforms Facebook.”

Meta This change of name , Although the concept of meta universe burst into public view , But it failed to bring fire to its stock price .Meta The day of renaming , The response of the capital market is not enthusiastic , At the close, the share price only rose 1.51%.

But Yingke, who also took advantage of the wind outlet of the yuan universe by renaming , The share price once rose nearly 13%. Snow leopard financial news agency learned , Ying Ke CEO Fengyousheng said when talking about the original intention of renaming , This is to change people's mapping “ It is deeply related to live broadcast ” The inherent impression of , The company has actually laid out social 、 Multiple product matrix such as blind date .“ At today's time , Yingke has been unable to fully represent the group's external brand image , This is also why it should be renamed Ying universe （ Why ）.”

A The phenomenon of changing the name of listed companies is also common .

Snow leopard finance and economics selected 2000 Since, some cases of listed companies with name changes have occurred （ For details, see table below. ）, The reasons for its renaming include strategic adjustment 、 Emphasize the main business and marginal expansion of business . Although there are traces of reasons for renaming , But the reaction of the capital market is quite different .

2020 year 6 month 22 Japan , The first trading day after CITS issued the announcement of renaming , Share price fall 3.49%. The renaming takes effect 6 month 29 Japan , Capital that is half a beat slow suddenly enters , CITS shares are 29 Japan 、30 Daily limit for two consecutive days .

The name of the listed company is changed , Is it science or Metaphysics ？

02 It is easier to change your name than your life

The renaming tide of listed companies , It can be traced back to 1995-2000 During the U.S. stock Internet foam in .

1995 year 8 month 9 Japan , Not set up 16 Months of Netscape （Netscape） Listed on NASDAQ , Offering price 14 dollar , Only one trading day after the opening, it soared to 71 dollar . The soaring share price of Netscape , It is an epitome of the pursuit of Internet companies by the capital market in that era .

In order to connect with the Internet , Many newly listed companies have the idea of names . Some add “.com”, Some add “i” perhaps “e”.

2000 year 2 month , Pet products online retailer Pets.com Listing in US stock market , Its products are highly overlapped with community pet stores and supermarkets , And does not have the corresponding logistics transportation capacity . Although the continued profitability is questionable , But in “.com” Under the halo of , This company has only been in operation for one year 、 The total income is less than 600 Million dollar company , stay IPO Zhongrongde 8250 Thousands of dollars , Valuations are super 3 Billion dollars .

only 9 After a month ,Pets.com Because of the shortcomings of its business model, it continued to suffer losses , Have to file for bankruptcy .

1999 year 5 Internet toy sellers listed in January eToys, Experienced with Pets.com A similar fate . Before listing , The company lost money in the last fiscal year 2860 Thousands of dollars , But with the head “e” A tall hat ,eToys On the day of listing , Share price is determined by 20 The dollar soared to 78 dollar , At its highest market value, it surpassed the largest toy dealer in the United States at that time 、 existing 52 Toy r us with a history of years .

but eToys The madness of lasted only about a year .2001 year , Its share price fell below 1 The dollar was delisted from Nasdaq , And declared bankrupt one month later .

Purdue University 3 Scholars studied in 1998 Years and 1999 Renamed in , Join the Internet trend 63 companies . By measuring these companies before and after the name change 5 Days of stock price changes , It is found that the share price of the renamed company is here 10 In the day time , The increase rate is higher than that of similar companies 125%, Even if their core business has nothing to do with the Internet .

The Internet foam is 2000 It broke around the year , But it was renamed “ Rub the heat ” The phenomenon of has not disappeared , And created a new peak in the blockchain boom .

2017 year 12 month 21 Japan , Long island iced tea, a NASDAQ listed beverage company （Long Island Ice Tea）, Announced that it will be renamed as long blockchain company （Long Blockchain Corp.）, And announced that on the basis of continuing to produce non-alcoholic beverage products , Explore the transformation to blockchain Technology .

The day of renaming , The company's share price rose about 200%, All the way from before the name change 2.5 The dollar went up to 9.49 dollar . However, due to the delay in announcing the specific transformation plan , The share price of the long blockchain company was in the following year 2 The month fell back to 3 About $ , And in those days 4 Delisting from Nasdaq in August .

in order to “ Create a refreshing corporate image and identity ”, Pingshan tea, a Hong Kong listed company, is in 2016 At the end of, it was announced that the company would be renamed blockchain Group Co., Ltd , English name from Ping Shan Tea Group Limited Change to Blockchain Group Company Ltd.

The share price of this blockchain company selling tea has been lower than HK $1 for a long time , The capital market did not mention much interest in its renaming .2021 year 8 month 10 Japan , The company delisted from the Hong Kong Stock Exchange .

Earlier 2015 year 5 month 10 Japan , Real estate oriented A Duolun Co., Ltd., a listed company, announced to change its name to Pitong , Determined to be the first listed Internet finance company in China . This move was ridiculed by the market as “ The strongest in history P2P translate ”. Although the day after the announcement of the name change , Pipu received the inquiry letter from Shanghai Stock Exchange , But the capital market is still crazy . Since then 5 month 11 The date of , Convexity and continuity 6 Trading day limit .

Investors' obsession and madness with the company name sometimes seem unimaginable .2016 year , Because Trump was elected president of the United States , Sichuan University Zhisheng trading ;2022 year , During the Beijing Winter Olympics , Read as “ Looking at Gu ailing from a distance ” Yuanwang Valley's daily limit .

Listed companies just want to change their names “ Change life ”, I'm afraid it's impossible .

03 Running business , Iron giant

It is not uncommon to interpret the capital market with metaphysics .

2021 year 10 month ,Facebook renamed Meta Previous week , Guosheng securities issued a report called 《 A preliminary study on the application of heavenly stems and Earthly Branches in timing 》 Research Report , Combined with the ancient Chinese astronomical calendar and the five element theory , Analyze the stock price increase in different years .

picture source ： Guosheng Securities Research Report picture source ： Guosheng Securities Research Report

But no matter for the consideration of strategic adjustment , Or simply rub the heat 、 Fry concept , Even in the short term, the renaming will get positive feedback from the capital market , It is also difficult to bring long-term benefits to the company .

in fact , Many companies adopt the strategy of responding to changes with constancy , In the process of expanding the territory and constantly adjusting the main business, we insist on not changing our name .1998 Tencent, founded in, is just like this .

24 Over the years , Tencent from social products QQ scratch , Expand business all the way to telecom value-added services 、 Since the research / Proxy game 、 online advertising 、 Online video 、 Financial technology 、 Cloud business .

2004 year , Tencent released its first annual report after listing on the Hong Kong stock exchange . At the time , The two wheel drive of Tencent's revenue is mobile and telecom value-added services 、 Internet value-added services . And in Tencent's 2021 In the annual report , The proportion of online advertising revenue has increased from... At the beginning of listing 5% Promoted to 16%, After the integration of various value-added services , Proportion from 17 Years ago, 94% Shrink to 52%, The proportion of fintech and enterprise service revenue reached 31%.

This year, 5 Of the month 2022 year Q1 In the earnings report , It also hides Tencent's intention to shift gears in the future ： The game goes out to sea 、 Bet video number 、 Explore the metauniverse , Every action is trying to break through new strategic boundaries .

But Tencent, which shifts gears frequently , list 18 I have never changed my name for years .

Alibaba, which was founded a year later than Tencent , Also experienced frequent business expansion and adjustment .

Alibaba is made up of to B Business started , Then rely on Taobao and tmall to C Business accumulates user resources .2009 Alibaba cloud was founded in ,2013 Newbie network was founded in ,2014 Ant group, the parent company of Alipay, was officially established . And then , Alibaba hatched Dingding again 、 Word of mouth 、 New businesses such as flying pigs .

In Ali's financial report , Chinese business 、 international business 、 Local life service 、 rookie 、 Cloud business 、 Digital media and entertainment businesses , Each has a place , Each is Alibaba's business , But none can replace Alibaba's name .

Running business , Iron giant , There is no difference between good and bad whether the company is renamed . No matter how the tip of the iceberg on the water changes , Business territory hidden under the turbulent undercurrent , Is the real lifeline of the enterprise .