迅游科技并购狮之吼：全球化布局与游戏加速业务的战略升级
中国证监会批准27亿并购案，迅游科技(300467.SZ)近日公告，公司发行股份及支付现金购买狮之吼100%股权的重组方案获得证监会核准批复。本次交易金额达27亿元人民币，同时配套融资6.73亿元用于移动端APP开发及广告平台建设。
Approved by China Securities Regulatory Commission, Xunyou Technology (300467.SZ) announced that its restructuring plan to acquire 100% equity of Lion Studios has been approved. The transaction amounts to 2.7 billion yuan, with additional financing of 673 million yuan for mobile APP development and advertising platform construction.
战略协同：工具类APP与游戏加速的完美结合
Strategic Synergy: Perfect Combination of Utility Apps and Game Acceleration
狮之吼作为全球领先的工具类APP开发商，旗下产品包括Power Clean(手机清理)和Power Battery(电池管理)等明星应用，全球用户超3亿。其核心商业模式是与Google、Facebook广告平台合作，通过广告展示获取分成收入。
As a global leader in utility APP development, Lion Studios' flagship products including Power Clean and Power Battery have over 300 million users worldwide. Its core business model involves partnership with Google and Facebook advertising platforms to generate revenue through ad displays.
迅游科技CEO表示："此次并购将实现三大战略价值：
1. 全球化用户资源整合
2. 移动广告平台能力建设
3. 游戏加速业务的海外拓展"
The CEO of Xunyou Technology stated: "This acquisition will achieve three strategic values:
1. Integration of global user resources
2. Construction of mobile advertising platform capabilities
3. Overseas expansion of game acceleration business"
《绝地求生》热潮推动业绩增长
PUBG Craze Drives Performance Growth
受益于《绝地求生》(PUBG)全球爆红，中国玩家占比高达49.28%，迅游网游加速器作为行业龙头迎来重大发展机遇。数据显示：
• 全球销量：2100万份
• 中国玩家占比：40.27%
• 同时在线峰值：290万人
Benefiting from the global popularity of PUBG, with Chinese players accounting for 49.28%, Xunyou Game Accelerator as the industry leader has encountered significant development opportunities. Data shows:
• Global sales: 21 million copies
• Chinese player proportion: 40.27%
• Peak concurrent users: 2.9 million
财务预测与投资建议
Financial Forecast and Investment Recommendation
根据业绩承诺，狮之吼2017-2019年净利润分别为1.92亿、2.50亿、3.24亿元。分析师预计并购后：
• 2018年备考EPS：1.60元(PE 35X)
• 2019年备考EPS：2.04元(PE 27X)
维持"强烈推荐"评级。
According to performance commitments, Lion Studios' net profits for 2017-2019 are 192 million, 250 million and 324 million yuan respectively. Analysts predict post-merger:
• 2018 pro forma EPS: 1.60 yuan (PE 35X)
• 2019 pro forma EPS: 2.04 yuan (PE 27X)
Maintain "Strong Recommend" rating.
风险提示：业绩对赌失败、行业竞争加剧
Risk Warning: Performance commitment failure, intensified industry competition
