Review of market and sector trends: last week, the media sector index rose 5.07%, the Shanghai Composite Index rose 1.63%, the Shenzhen Component Index rose 1.47%, the gem index fell 0.34%, and the yuan universe index rose 3.72%. The top three sectors Rose: Beijing Fengshangshiji Culture Media Co.Ltd(300860) (+ 50.23%), Beijing Hualubaina Film&Tv Co.Ltd(300291) (+ 45.58%), Col Digital Publishing Group Co.Ltd(300364) (+ 37.62%); the top three sectors fell: Merit Interactive Co.Ltd(300766) (- 9.50%), Zhejiang Daily Digital Culture Group Co.Ltd(600633) (- 5.39%), Yoozoo Interactive Co.Ltd(002174) (- 4.29%). Last week, the NASDAQ China technology stock index rose 4.04%. The Hang Seng China enterprise index rose 1.45%.
One week’s view: the yuan universe plate continues the hot market, Last week [wind meta universe index] (+ 3.72%) hit a record high, and meta universe concept stocks [ Beijing Fengshangshiji Culture Media Co.Ltd(300860) (+ 50.23%, layout VR / AR content production technology), Beijing Hualubaina Film&Tv Co.Ltd(300291) (+ 45.58%, leading the release of lion boy) and Col Digital Publishing Group Co.Ltd(300364) (+ 37.62%)] The excess return is obvious. From policy guidance to industry implementation, various parties around the world continue to add weight to the construction of meta universe VraR from hard to soft ecology, and catalyze the heat of meta universe plate. In terms of policy, on December 9, China yuancosmos industry committee officially issued the declaration of yuancosmos industry, striving to make yuancosmos fully implement the industrial field and promote the high-quality development of digital economy in the next three years. In addition, Japan established the “yuancosmos” association this week, and relevant groups will cooperate with the financial department and other administrative organs to strive to make Japan a developed country of yuancosmos. At the industry level, [meta (FB)] will fully open the VR application horizonworlds based on oculus VR helmet on December 9; [Microsoft] will launch VR helmets and gloves next year; [ China Telecom Corporation Limited(601728) ] will invite bids for “meta universe digital man production”; [Baidu] will release the meta universe product “xirang” on December 27 and hold Baidu AI developer conference in the product.
Recently, we believe that metauniverse is the future elastic main line, hardware technology in VR / AR field takes the lead, and the medium and long-term content side is full of potential. We recommend continuing to pay attention to the related targets of metauniverse industrial chain. Prompt attention [ Bluefocus Intelligent Communications Group Co.Ltd(300058) (virtual human takes the lead in layout, and cooperation with Baidu yuancosmos app “xirang” is under negotiation), Visual China Group Co.Ltd(000681) (extending traditional knowledge copyright to virtual copyright), New Guomai Digital Culture Co.Ltd(600640) ( China Telecom Corporation Limited(601728) company, benefiting operator yuancosmos Development), Zhejiang Century Huatong Group Co.Ltd(002602) (subsidiary Shengqu game signed a framework agreement on intermodal cooperation with Tencent, and robolox platform game release), etc.] ； And first mover application scenario games, In Hong Kong and US stocks [roblox, Tencent, Netease, bilibilibili (plan to launch “little yellow car” to bring goods to the live broadcast), China Mobile Games (Legend of fairy sword and chivalry 7, Douluo mainland – doushen again won the nomination of the top ten games of the year), Chuang Meng and heart]; and in A-Shares [perfect (magic tower launched on December 16, with more than 15 million mobile game reservations), Sanqi, Wuxi Boton Technology Co.Ltd(300031) , Beijing Fengshangshiji Culture Media Co.Ltd(300860) , new media, Huali, Shunwang (promoting high-performance remote office solutions), etc.].
The central economic work conference emphasizes that stability is the key to ensure economic operation and help stabilize the expectations of e-commerce and advertising market. In terms of industrial chain, the meeting proposed to accelerate the digital transformation and promote the upgrading of traditional industries. In terms of consumption, it once again stressed the “strategy of expanding domestic demand” to promote the sustainable recovery of consumption. Note that the description of capital is also more comprehensive than that in the early stage. Last year’s statement (strengthening antitrust and preventing disorderly expansion of capital) and now (capital has both positive and negative sides).
Key tips: 1) key sub tracks, financial technology [Dongcai], etc; Technological innovation [millet (third quarter mobile phone market share of 14% in third), Baidu (launched intelligent workflow platform 2, will release the yuan universe product “” Kwai Lok “); short video [fast test (live overseas TV Live), byte], medium video [beep], long video flat [mango]; online recruitment [BOSS direct hire], real estate marginal improvement [shell].
2) In the game sector, sensor tower: in November, the consumption of global mobile game players reached US $7.1 billion, and Tencent peace elite and pubg mobile returned to the top of the global mobile game best seller list. Focus on [Tencent (intends to increase its holdings of supercell at a valuation of US $11 billion), Netease, China Mobile Games, IgG, etc.], China [perfect, Panax notoginseng, G-Bits Network Technology(Xiamen)Co.Ltd(603444) (the investment company celadon game will be released and listed on December 16), Baotong, Caesar, giant, Fuchun, Yaoji, Huali], VR technology [Silk Road, Hengxin, Jiachuang], etc.
3) Generation Z and community maintain high growth and high stickiness. Pay attention to [BiliBili], trendy play [bubble Mart] and [dream world, aofei, Zhejiang Jinke Tom Culture Industry Co.Ltd(300459) ]; Pay attention to online Q & a community [Zhihu], online music [Netease cloud music], etc; [xiaohongshu (completed a new round of financing of US $500 million, with a post investment valuation of US $20 billion)].
4) E-commerce and industrial chain, Tiktok [Jingdong, spelling, Ali (big Taobao organizational restructuring, people’s daily sure cabbage dish to solve Shenzhen Agricultural Products Group Co.Ltd(000061) losses)] and live platform [jitter, fast hand], industry chain [ Saturday Co.Ltd(002291) , Yao Ji, gravity], marketing technology [sub Kwai (cumulative income related government subsidies 418 million yuan), blue label, vision], bytes benefit [ Three’S Company Media Group Co.Ltd(605168) , Zhewen Interactive Group Co.Ltd(600986) ] Etc; Community retail [meituan (news broadcast affirms that the fresh e-commerce platform helps Rural Revitalization), daily excellent fresh, Ding Dong], etc.; wechat ecological e-commerce SaaS [youzan, Weimeng].
Risk warning: epidemic impact, economic and political environment risk, stricter supervision, goodwill impairment risk
