\u3000\u3000 Dalian Zeus Entertainment Co.Ltd(002354) (002354)
The expected net profit attributable to the parent company in 21 years is 35-52 million yuan
Dalian Zeus Entertainment Co.Ltd(002354) (002354) released the performance forecast. In 2021, the net profit attributable to the parent company is expected to be about 35 million yuan ~ 52 million yuan, a year-on-year decrease of 66.0% ~ 77.11%, and the earnings per share is 0.021 yuan / share -0.0313 yuan / share.
The investment income has affected the company’s performance, and the layout is continuously optimized
On the whole, the operation of the company is still recovering. The year of 21 is the first fiscal year after the delisting risk warning was revoked, and the overall profitability has been significantly improved; The main reason for the decline in net profit attributable to the parent company and the loss after deducting non net profit in the whole year is the loss in the performance of some joint-stock companies, which has a great impact on the investment profit and loss recognized by the company under the equity method. At the same time, the company plans to make provision for impairment of long-term equity investment for some joint-stock companies, which has an impact on the net profit of the company. We expect that all businesses of the company will continue to be promoted in 22 years. Under the background that some business risks have been released in 21 years, the overall business situation of 22 young people will be more clear.
The non recurring profit and loss of the company in 21 years was about 234 million yuan, mainly due to the transfer of 93.5417% equity of Beijing fantasy Yueyou Network Technology Co., Ltd. held by the company, which is expected to affect the net profit of the company by about 130 million yuan; The change in fair value of trading financial assets is expected to affect the company’s net profit of about 60 million yuan. The company’s sale of fantasy Yueyou will not only help optimize the overall business layout, but also provide sufficient capital and resource support for the development of the company’s new business.
Profit forecast and investment rating
At present, the layout of e-games and data traffic of the company has entered the release period of sustainable development, and the effect of mutual promotion and coordinated development of game and traffic business has gradually appeared. Therefore, we expect the overall profit potential of the company to be continuously released in 22 years. To sum up, we give the company an investment rating of “overweight” and keep the profit forecast unchanged. It is estimated that the EPS in 2021-23 will be 0.03, 0.14 and 0.21 yuan / share respectively.
Risk tips
The company’s business development does not meet expectations, the product operation does not meet expectations, and the game industry policy risk; Data flow, ecological park policy and operation risk, etc.
