Review of market and sector trends: last week, the media sector index rose 3.58%, the Shanghai Composite Index rose 3.02%, the Shenzhen Component Index fell 0.78%, and the gem index fell 5.59%. The top three sectors Rose: Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) (+ 61.09%), Hylink Digital Solution Co.Ltd(603825) (+ 27.40%), Guangdong Advertising Group Co.Ltd(002400) (+ 27.33%); The top three declines in the sector: Wuhan Ddmc Culture & Sports Co.Ltd(600136) (- 11.58%), Beijing Fengshangshiji Culture Media Co.Ltd(300860) (- 10.34%), Hengxin Shambala Culture Co.Ltd(300081) (- 10.03%). Last week, the NASDAQ China technology index fell 0.02% and the Hang Seng China enterprise index rose 2.33%.
One week view: driven by themes such as last week’s Winter Olympics, Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) led the rise, and the media sector also rose after the oversold before the festival. Among them, the yuan universe index fell by 2.10%, and there are many local highlights in the differentiation. For example, the Winter Olympic theme [ Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) , Hylink Digital Solution Co.Ltd(603825) ] led the rise, and our pre holiday depth report recommended underestimating the shift supervisor logic [ Shanghai Yaoji Technology Co.Ltd(002605) (+ 11.7%)] also led the rise. The direction of metauniverse is an important medium and long-term main line of media. The core of the middle line focuses on fundamentals, such as hardware promotion and iterative rhythm of important products. On the one hand, focus on giant companies with cutting-edge technological advantages, such as [Tencent] (super qq show test, launching new scenarios of meta universe application), [Netease] and overseas related hardware leaders; On the other hand, A-Shares pay attention to the endogenous clarity of existing businesses and expand new industrial companies in combination with yuanuniverse new technology, such as [ Three’S Company Media Group Co.Ltd(605168) , yao ji, Bluefocus Intelligent Communications Group Co.Ltd(300058) , Visual China Group Co.Ltd(000681) , Beijing Fengshangshiji Culture Media Co.Ltd(300860) ].
In terms of the Internet, on February 10, wechat released a press release. On January 28, the central office of Internet and information technology, the national development and Reform Commission, the Ministry of industry and information technology and the State Administration of market supervision jointly held a symposium on promoting the healthy and sustainable development of Internet enterprises. The symposium fully affirmed that Internet enterprises are increasingly becoming the backbone of building a network power, It has played an important role in promoting China’s economic and social development and injected strong confidence and impetus into the firm development of Internet enterprises. [ People.Cn Co.Ltd(603000) , Kwai Fu, USA, Jingdong, millet and other Internet companies are responsible for the meeting. At the same time, combined with the “digital economic development plan” issued in 14th Five-Year, Kwai Tai quality company’s stock price has experienced a substantial adjustment, and the pessimists’ expectations of performance and policy have been feedback. The key is to pay close attention to the marginal changes and specific signals of policies, which reflects the marginal improvement of basic aspects, such as the overseas gold share in February.
Key tips: 1) relatively high prosperity track, financial technology [Dongcai (expected to realize a net profit of 8.2-8.9 billion yuan, yoy + 71.62% – 86.27%) in 21 years]; Short video [fast track (February overseas gold shares), January 1st to February 3rd during the Spring Festival, the total volume of Kwai Kwai E-Commerce orders increased by 84% over last year’s growth, GMV grew by 121% over the same period last year]; Medium video [beep beep beep]; Technological innovation [Xiaomi, baidu]; Long video [mango], etc; Online recruitment [boss direct employment], marginal improvement of real estate [shell], etc.
2) XR, virtual human and other pioneer meta universe application sectors, Spring Festival Gala, Winter Olympics and other activities [blue label (virtual person “Su Xiaomei” landing on Beijing Satellite TV Spring Festival Gala), Tencent (super qq show test), Yuanyu Technology (launch the first metauniverse virtual audio live concert on New Year’s Eve), Beijing Fengshangshiji Culture Media Co.Ltd(300860) (create the official virtual music Carnival of Winter Olympics, and create an immersive interactive virtual entertainment experience in the mode of “virtual + performance + Entertainment Interaction”)
3) in the game sector, the policy level pays attention to the progress of version number recovery, and the fundamentals pay attention to the launch of key products and subsequent profit release. Focus on the head [Tencent], [Netease (eternal robbery mobile game version) open appointment], China [Panax notoginseng, perfection, G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Zhejiang Century Huatong Group Co.Ltd(002602) , giant, Fuchun, Yaoji (21-year performance forecast meets expectations), Baotong, Caesar, Huali, Rastar Group(300043) , Kunlun Tech Co.Ltd(300418) ], Hong Kong stock [China mobile game, IgG, chizicheng technology], VR technology [Silk Road, Hengxin, Jiachuang], etc.
4) film section, pay attention to the post epidemic repair opportunities. Focus on animation film leader [light], cinema and content composite leader [Wanda], Internet platform [cat’s eye], etc.
5) generation Z and community, maintaining high growth and high stickiness. Pay attention to [Bili], trendy play [bubble Mart] and [Chuang Meng, aofei], etc; Online reading and IP operation [Yuewen] (the main body of Tencent film industry is adjusted to enter the enterprise development business group, focusing on the development of era melody works, and the original IP film and television development with strong commercial attributes is entrusted to Xinli, Yuewen film and television and Tencent animation under PCG), online Q & a community [Zhihu], online music [Netease cloud], etc.
Tiktok Kwai, 6) the electricity supplier and industry chain, the electronic business platform [Jingdong, many spells, Ali (live broadcast incentive plan, support for the growth of the middle waist and new master)] and live platform [jitter, fast hand], industrial chain [ Saturday Co.Ltd(002291) , Yao Ji, gravity], marketing technology, etc., bytes benefit from [ Three’S Company Media Group Co.Ltd(605168) , Zhewen Interactive Group Co.Ltd(600986) ], etc. Community retail [meituan, daily Youxian, dingdong], etc; Wechat ecological e-commerce SaaS [youzan, Weimeng].
Risk warning: epidemic impact, economic and political environment risk, stricter supervision, goodwill impairment risk
