Market Overview: CITIC’s primary media sector rose 0.1% this week. The Winter Olympic Games ended smoothly. According to iaannis ecksacks, CEO of Olympic Broadcasting Corporation, this winter Olympic Games is the most watched Winter Olympic Games, with more than 2 billion attention on social media. We believe that the Winter Olympics will bring about a sustained sports fever and sports marketing fever. We suggest that we continue to pay attention to investment opportunities such as the Paralympic Games, the Asian Games and the world cup. The importance of China’s digital economy has further increased. The 14th five year plan for digital economy development clearly requires that the added value of core industries of digital economy will account for 10% of GDP by 2025. The development of the global metauniverse industry is accelerating, and we believe that the prosperity of the metauniverse industry is safe. After years of intensive policy influence, the media sector has obvious valuation advantages. The Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) trends such as yuancosmos are expected to bring marginal business increment. Individual stocks with good fundamentals for a long time have reached a better price position from the perspective of medium-term allocation. It is suggested to pay more attention.
[metauniverse] trendforce repaired the VraR head to show the volume of goods, and Youtube and MIHA tour entered the metauniverse. Trendforce estimates that the volume of VraR head display will be 14.19 million units in 22 years, with a year-on-year increase of 43.9%, mainly benefiting from the demand for remote interaction under the influence of the epidemic and the price reduction strategy of quest2. YouTube plans to enter the blockchain and metauniverse in 2022, reduce fraud in the digital art market and enrich the social experience when watching game content. MIHA tour established the brand hoyoverse, which will provide global players with an immersive virtual world experience. Gartner estimates that 25% of people will spend one hour a day in metauniverse in 2026, and 30% of enterprises and institutions in the world have products and services of metauniverse. At present, giants at home and abroad focus on the multi-dimensional ecological layout of software, hardware and content in metauniverse. The continuous landing of the industry has brought a sector catalytic market. Under the change of technology, high-quality content developers are expected to usher in new development opportunities. It is suggested to pay attention to high-quality companies with fundamental support and valuation flexibility: [ Visual China Group Co.Ltd(000681) ] (NFT platform), [ Bluefocus Intelligent Communications Group Co.Ltd(300058) ] (virtual human), [ Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) ] (XR + meta universe infrastructure + virtual human + NFT), [ Hylink Digital Solution Co.Ltd(603825) ] (virtual human + winter Olympic Games), [ Three’S Company Media Group Co.Ltd(605168) ] (cooperative cultural exchange).
[games] in January 2021, China’s mobile game revenue increased month on month, and the performance of super casual games increased steadily. According to the latest data of Gamma data, the actual sales revenue of China’s mobile game market in January 2022 was 22.24 billion yuan, with a month on month increase of 20.25% and a year-on-year increase of 17.76%. The growth rate increased significantly under the blessing of the Spring Festival holiday, of which 4399 Xinyou civilization and Conquest ranked in the top 8 of the flow calculation list. The overseas revenue of China’s independently developed games was 1.595 billion yuan, an increase of 5.27% month on month, of which “original God” grew the fastest and ranked among the top 1 in the overseas revenue list of sensortower China Mobile Games. In January 2022, six of the top 20 games were super casual games, with downloads accounting for more than 20%, and the performance improved steadily. At present, the valuation of leading companies in the sector is lower than 20x in 2022, which highlights the cost performance. They focus on the game going to sea and the distribution of version numbers, and focus on recommending [ Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ] (overseas business continues to make efforts to launch a variety of new games, and Douluo mainland: soul master duel enters the payback period); [ G-Bits Network Technology(Xiamen)Co.Ltd(603444) ] (Yinian Xiaoyao + asking questions); [ Perfect World Co.Ltd(002624) ] (the new version of magic tower linked with spirit cage performs well); [ Jiangsu Zitian Media Technology Co.Ltd(300280) ] (China’s flow realization business recovery + overseas new business layout).
[short video] release the “magnetic star Kwai Tai master’s marketing manual”. According to the latest data, the current Kwai Fu drama has reached 230 million users. The short play has high viscosity (more than 8 of the users watch short plays every week, short plays are more than 50% fans are active fans), and easy to make explosive money (short video plays Kwai Chuen master single video account for the overall 30%-40% ratio), which becomes a new focus of fast brand marketing. At present, the main industry of Kwai master’s short selling is retail business (30%), media information (17%), IT power consumption (13%), game category (11%), and 30% of the short drama master has taken over the video supplier list through the star. The Kwai Hai program, which has been launched by the fast hand, will be upgraded again. The threshold for creators will be lowered and the official traffic incentive will be promoted. Increasing the Kwai Fu input will help the platform to realize content differentiation and diversification.
Investment suggestions: the game section focuses on Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Perfect World Co.Ltd(002624) , Jiangsu Zitian Media Technology Co.Ltd(300280) ; Video Kwai continues to recommend Mango Excellent Media Co.Ltd(300413) , fast tech and Saturday Co.Ltd(002291) . Bubble mart is recommended in the field of fashion. The yuan universe sector focuses on Visual China Group Co.Ltd(000681) , Hylink Digital Solution Co.Ltd(603825) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Bluefocus Intelligent Communications Group Co.Ltd(300058) , Three’S Company Media Group Co.Ltd(605168) , etc.
Risk tips: policy supervision risk, increased competition risk, and the impact of the epidemic exceeds the expected risk.
