On February 10, the film and television concept sector continued its upward trend. As of the closing, the sector as a whole rose 0.87%, ushering in three consecutive rises. Looking back on the market situation of the film and television concept sector since the Spring Festival, the data of China stock market news choice show that from February 7 to February 10, the film and television concept sector rose 4.83% in total, outperforming the Shanghai Stock Exchange Index in the same period (3.70% in total), and more than 80% of the stocks in the sector rose during the period, including Tahoe Group Co.Ltd(000732) (37.39%), Cultural Investment Holdings Co.Ltd(600715) (34.95%), Jinzhou Jixiang Molybdenum Co.Ltd(603399) (21.75%), Jishi Media Co.Ltd(601929) (16.96%) Five stocks including Wasu Media Holding Co.Ltd(000156) (15.16%) increased by more than 15% during the period.
On the news side, according to the statistics released by the state film administration, the box office of the "Spring Festival" in the year of the tiger (from January 31 to February 6) China Film Co.Ltd(600977) was 6.035 billion yuan. In strict compliance with the epidemic prevention requirements that the attendance rate of cinemas in low-risk areas should not be higher than 75%, and cinemas in medium and high-risk areas should be closed down, it has achieved the second best box office in the same period in Chinese film history.
In addition, according to the data of Lighthouse professional edition, as of 21:17 p.m. on February 9, the total box office (including pre-sale) of national cinema films officially exceeded 10 billion yuan in 2022, which took 40 days to break the record of 10 billion yuan in the annual box office of Chinese film history.
In this regard, Liu Youhua, director of private placement network research interviewed by the reporter of Securities Daily, said that the rise of the film and television sector mainly benefited from the impact of the Spring Festival. During the Spring Festival, there were many good films, and the number of films was also very large. The types of films were mostly comedies, which was not often suitable for the atmosphere of the Spring Festival, driving the rise of film box office revenue, Film and television concept stocks performed strongly under the boost of performance.
At the same time, market funds are also pouring into film and television concept stocks. From February 7 to February 10, 29 film and television concept stocks obtained the rush to raise large single funds, and the total net purchase amount during the period was 426 million yuan. Specifically, the net purchase amount of large single funds during the period of Perfect World Co.Ltd(002624) ranked first, with 104 million yuan. The net purchase amount of large single funds during the period of Col Digital Publishing Group Co.Ltd(300364) , Zhejiang Huace Film And Tv Co.Ltd(300133) , Guangdong South New Media Co.Ltd(300770) , Silkroad Visual Technology Co.Ltd(300556) , Sichuan Newsnet Media (Group) Co.Ltd(300987) , Fuchun Technology Co.Ltd(300299) also exceeded 20 million yuan, The above seven stocks attracted a total of 290 million yuan.
Ma Cheng, chairman of juze investment, said in an interview with the reporter of Securities Daily that the main logic of the strong performance of film and television media after the festival is three points: first, the high-generation switching in the current market is obvious, and the new energy sector, which rose more last year, has been significantly adjusted, while the film and television media sector, which has been at the absolute bottom for six years, has been favored by funds; Second, from the perspective of valuation, the overall valuation of media and entertainment is at the absolute bottom since 2014, with obvious valuation advantages; Third, the film and television media sector is the sector most seriously affected by the epidemic. However, with the large-scale vaccination of vaccines, the performance of the industry affected by the epidemic will pick up in the foreseeable future. The darkest hour of the industry has passed, and it is likely to usher in "Davis double click" in the near future. In short, the agency is optimistic about this sector, and this sector is expected to become one of the strong main lines in 2022.
With regard to the current situation of the film market, Bohai Securities pointed out in its research report that the overall competitiveness of the films that have been scheduled in February 2022 is good. It is expected that the domestic films "Wen Ruyan, a product of ten years" and "I want to go to your world and love you" will have a certain ticket room influence and are expected to support the box office revenue in February.
As for the influencing factors of the spring box office, Capital Securities believes that the film shortage will still affect the spring box office, and continues to pay attention to the trend of the supply of imported films. In the spring of 2022, China Film Co.Ltd(600977) market is still lack of heavy film support and is expected to remain in a downturn. According to the Yien ticket purchase index, the films with high popularity in the films already arranged include the imported film "tragedy on the Nile". In 2021, the overall introduction of imported films fell into a trough, which is also an important reason for the downturn of the box office throughout the year. In 2022, with the return of Hollywood film supply, films such as Spider Man 3 and the mystery of Dumbledore may be introduced in time to increase the popularity of China's unpopular schedule and adjust the box office of the whole year.
Looking forward to the performance of the China Film Co.Ltd(600977) market in 2022, Central China Securities Co.Ltd(601375) expressed a cautious and optimistic attitude. The decline of content supply capacity and the uncertainty of imported film performance and introduction caused by the epidemic may continue to have a certain impact on the industry in the short term. However, in the medium and long term, the restoration of film production progress outside China may reshape the audience's habit of going to the cinema. The improvement of the fine management ability of epidemic prevention and control in various regions can alleviate the adverse impact of repeated epidemic on the industry to a certain extent. At the same time, after leaving the popular schedule, the ticket price will be adjusted in a more appropriate and reasonable range to smooth the impact on the viewing demand, China Film Co.Ltd(600977) the market is expected to return to steady growth.
In terms of investment opportunities, Central China Securities Co.Ltd(601375) said that it is suggested that investors should pay attention to two directions. On the one hand, content companies with high-quality film content production capacity and large project reserves should pay attention to the film filing progress and release performance; On the other hand, based on the market pattern of continuously increasing market share of leading cinemas and film investment, as well as the business advantages significantly exceeding the overall level of the country, the concentration is expected to be further improved in the future. Investors are advised to pay attention to Wanda Film Holding Co.Ltd(002739) , Beijing Enlight Media Co.Ltd(300251) , China Film Co.Ltd(600977) .
Liu Youhua, who holds a cautious view, believes that many good films have been released during the Spring Festival, and the number of films may decline significantly in the next long time. Moreover, considering the impact of epidemic prevention and control, this will affect the box office of cinemas to a certain extent. Therefore, film and television concept stocks do not have the power to continue to strengthen.
Table: list of film and television concept stocks with an increase of more than 7% after the Spring Festival
prepared by Chu Lijun
