the film and television sector is definitely the most beautiful “baby” in the recent market. Due to the small number of media theme funds including over-the-counter main investment film and television, more funds focus on the industry theme ETF with more flexible trading. Yinhua film and television ETF and Cathay Pacific Film and television ETF have ushered in eight consecutive positive days. As of December 14, the highest intraday prices have reached a new high since listing, and the net value has increased by more than 12% in the past week.
The cultural media sector, which has fallen for more than half a year, has finally rebounded in the near future. According to the data of East Money Information Co.Ltd(300059) choice, as of December 14, in the past week, the CSI film and television index has increased by more than 13%, and several film and television stocks have set off a wave of trading. Under this background, the net value of relevant theme funds has risen sharply recently.
According to the reporter’s statistics, in the past week, the net value of Galaxy sports and entertainment, investment promotion sports and cultural leisure, Yinhua film and television ETF, Cathay Pacific Film and television ETF and GF media ETF increased by more than 10%. The net value of entertainment enhancement lof, Penghua media ETF, Huaxia entertainment media ETF and other media and animation game theme funds increased by more than 8%.
What drives the rise of media stocks in this round? Is the media stocks rebounding at a low level this time or ushering in spring? Are those theme funds still heavily positioned in the media sector suitable for getting on the bus?
theme funds rose sharply in a week
“Has anyone noticed film and television ETF?” “I want to go in and do something, but I’m not familiar with the industry.” “Authentic yuan universe? I want to buy authentic yuan universe”. After a long period of shock, the sharp rise of the film and television sector in recent one week surprised many investors.
The film and television sector is definitely the most beautiful “baby” in the recent market. According to the data, as of December 14, from the performance of the sector, the CSI film and television theme index rose by 13.23% in the past week, ranking top among all industries. From the perspective of individual stocks, many stocks related to film and television themes set off a wave of trading. According to the Shenwan industry index, the media sector has increased by more than 10% in the past week, ranking first in the industry. The food and beverage industry index, which has also rebounded recently, can only lose ground with an increase of 7.26%.
Due to the small number of media theme funds including over-the-counter main investment film and television, more funds focus on the industry theme ETF with more flexible trading. The reporter noted that both Yinhua film and television ETF and Cathay Pacific Film and television ETF have ushered in eight consecutive years. As of December 14, the highest intraday prices have reached a new high since listing, and the net value has increased by more than 12% in the past week. In addition to these two “orthodox” film and television theme ETFs, the recent performance of other theme ETFs in the media sector is also gratifying. The net value range of GF media ETF has increased by more than 10%, and the net value range of other media, animation game theme ETFs and entertainment enhanced lofs has increased by more than 8%.
In terms of active equity funds, although some theme funds have “style drift” to buy the new energy sector, there are still many funds that stick to the culture and media sector. As of December 14, in the past week, China Merchants sports culture and leisure and Galaxy sports and entertainment recently led the rise of the whole market funds. The two funds were mainly invested in sports culture and leisure and sports and entertainment related fields, and the net value increased by 13.18% and 12.37% respectively in the past week.
why did the media sector break out
Why did the media sector, including film and television, animation and games, suddenly break out recently? In this regard, many institutions have analyzed various reasons.
He Jinlong, general manager of Meili investment, told the international finance news that this is because the inflection point of the market performance of the film and television game sector has been formed. After the significant decline in the revenue growth of the sector in the fourth quarter of last year, the growth rate hit the bottom and rebounded in the second and third quarters of this year.
Zhao Yuanyuan, investment director of Jianhong times, believes that as a low-end stock, the media sector is favored during the period of profit taking or position changing of institutions at the end of the year. In particular, meta universe related stocks are a new growth theme that has begun to ferment in the past two months. They have repeatedly reached new highs under the background of the entry of global industry giants.
Zhongtai Securities Co.Ltd(600918) said that 36 domestic films were scheduled to celebrate the new year in 2021, focusing on the box office of high-quality films and the performance of cinema companies. In 2021, the audience’s demand for film viewing will further pick up, the trend of box office concentration in the schedule is obvious, and the box office performance of high-quality films is good. According to the data of Yien, the box office of May 1 reached 1.51 billion in 2021, exceeding that of May 1 in 2019 before the epidemic. In 2021, the box office of the eleven films was almost the same as that of 2019, and the eleven high-quality films “Changjin Lake” became the box office champion in Chinese film history. The audience has high consumption demand for high-quality content films, and the box office performance of high-quality films is expected to be further improved.
Another view is that the concept of “meta universe” has ignited the whole media sector. Lu Yiqiao, fund manager of the stock investment department of Galaxy fund, believes that the “meta universe” will bring innovation to the development of entertainment, social and life platforms, and may also have an impact on the original Internet platform. From an industry perspective, “metauniverse” will drive the development of communication, chip and cloud computing, industrial metauniverse, blockchain technology and other industries.
He Jinlong also believes that with the recent popularity of the concept of meta universe, the sector has been favored and fermented by funds, and the valuation of the game industry has been reshaped. As the meta universe prospect gives a certain degree of valuation premium, this is the news factor of this kind of plate rebound.
can yuan universe follow for a long time
In the view of outsiders, there is a saying that “the industry water is deep” in many media segments, including film and television and games. Due to the lack of transparency in content creation, some investment institutions are reluctant to get involved easily. There are also some who believe that after the 2015 bubble burst, the industry needs some time to usher in qualitative changes.
However, a small number of public fund managers are optimistic about the possibility of mutation. According to the analysis of Lu Yiqiao, fund manager of Galaxy sports and entertainment in the third quarterly report: “the media industry has bottomed out in fundamentals, and there is a repair trend in valuation. In addition, benefiting from technological progress such as VR, there is the possibility of fundamental mutation.”
Recently, the market style is still focused on the growth track, but it still needs time to test whether the new theme represented by metauniverse can be tracked for a long time in the future.
There may be great opportunities in the industry, but development still needs to be accumulated. Liu Cunxin, assistant fund manager of private placement paipai.com, told reporters that yuanuniverse has the opportunity to become a popular track in the future, which will include many aspects, such as social networking, education, games and assets, but I believe that it will take at least 6-10 years for a specific and mature yuanuniverse to have the opportunity to see it.
“I think yuancosmic real estate speculation is essentially similar to the previous currency speculation, but the risk is much higher than currency speculation, so investors are advised to stay away from it. At present, the fundamentals of most yuancosmic concept companies in A-Shares are not consistent with the increase, which is specifically reflected in the immature product listing. Investors are advised to pay more attention to the ‘entrance’ VR / AR related products of yuancosmic, and they can also pay attention to the related products Ability to become a company of meta cosmic ecology. Overall, the concept of meta universe is overheated, and investors should pay attention to the callback risk. ” Liu Cunxin further analyzed and said.
He Jinlong said that it is difficult for China to find a “pure” meta universe theme fund for the time being, and many enterprises are suspected of rubbing the tuyere and making fast money. As the hardware technology involved in the current concept cannot be followed up, the technology implementation is risky and the moral level is subject to supervision, which brings too much uncertainty to the subject.
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(International Finance News)
