Review of market and sector trends: last week, the media sector index fell 4.41%, the Shanghai Composite Index fell 1.13%, the Shenzhen Component Index fell 0.35%, the gem index rose 1.03%, and the yuan universe index rose 1.18%. The top three gainers of the sector: Hangzhou Anysoft Information Technology Co.Ltd(300571) (+ 1.02%), Hangzhou Shunwang Technology Co.Ltd(300113) (+ 0.89%), People.Cn Co.Ltd(603000) (+ 0.53%); The top three declines in the sector: Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) (- 16.41%), Shanghai Yaoji Technology Co.Ltd(002605) (- 12.70%), Beijing Jetsen Technology Co.Ltd(300182) (- 10.48%). The NASDAQ China technology index fell 4.88% last week. The Hang Seng China enterprise index fell 6.40% last week.
One week view: the yuan universe index rose 1.18% last week, which may regulate the yuan universe industry or usher in long-term and healthy development. The State Intellectual Property Office said it would resolutely oppose and crack down on malicious registration acts such as hoarding not for use. China Mobile communications union yuan universe Industry Committee official website issued the “Yuan universe industry self-discipline convention”, proposed that Yuan Yuzhou’s business should be based on the service of the real economy, resolutely resist the use of the concept of the yuan universe hot spot for capital speculation, avoid forming a market bubble. Recommend technology innovation companies with clear A-share related businesses, such as [ Three’S Company Media Group Co.Ltd(605168) (sustained endogenous high growth in 21-23 years), yao ji (sufficient existing version numbers), blue label, vision, Zhewen Interactive Group Co.Ltd(600986) (elected as the executive vice chairman unit of yuancosmos Industry Committee)], and pay attention to Fengshang (undertaking the Winter Olympic Music Carnival and the opening ceremony of the Asian Games)].
The 49th statistical report on the development of China’s Internet was released. According to CNNIC, as of December 21, the number of Internet users in China had reached 1.032 billion, a year-on-year increase of 42.96 million, and the Internet penetration rate reached 73.0%. China has 119 million Internet users aged 60 and over, with an Internet penetration rate of 43.2%. Chinese netizens spend 28.5 hours online per week, up 2.3 hours from December 20. Among netizens, the utilization rates of instant messaging, online video and short video were 97.5% / 94.5% / 90.5% respectively, and the number of users reached 1007 million / 975 million / 934 million respectively.
Key tips: the fear of China Overview Regulatory Policy continues, and the superposition of the tension between Russia and Ukraine leads to a decline in risk appetite. On the 24th, more than 4000 A shares fell. At present, there is no need to be pessimistic in the bottom area. Think backward about whether there are more pessimistic factors. Once the external situation and the overall regulatory policy are clear, there may be opportunities in the sector.
1) relatively high prosperity track, financial technology [Dongcai, byteco (selling dolphin shares)]; Short video [quick hand (February overseas gold shares, quick game and G-Bits Network Technology(Xiamen)Co.Ltd(603444) jointly set up Kwai Chi Kwai Fung fund, mining and supporting outstanding game talents); Medium video [beep beep beep]; Scientific and technological innovation [Xiaomi, baidu]; Long video [mango], etc; Online recruitment [boss direct employment], marginal improvement of real estate [shell], etc.
2) in the game section, pay attention to the progress of version number recovery and the launch of key products. The relevant person of the State Press and Publication Administration said that it is still receiving the version number application of the game company normally. Focus on the head [Tencent and Netease (achieved revenue of 24.374 billion yuan in the fourth quarter, yoy + 23.3%, adjusted net profit attributable to the parent company of 6.6 billion yuan, yoy + 313.04%)], China [Panax notoginseng (the company expects the net profit attributable to the parent company to be RMB 2.8 billion-2.85 billion in 2021, yoy + 1.41% – 3.23%), perfect, G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Zhejiang Century Huatong Group Co.Ltd(002602) (signed a framework cooperation agreement with Huawei to accelerate the construction of green data center), giant, Fuchun, yao ji, Baotong, Caesar, Huali, Xinghui and Kunlun, Hong Kong stock [Xinxin (the company expects taptap to achieve a revenue of RMB 700 million in 2021) Celadon (the adjusted net profit of the company is expected to be 415440 million yuan in 2021, yoy + 150% – 165.1%), China mobile game, IgG, chizicheng technology], VR technology [Silk Road, Hengxin, Jiachuang], etc.
3) film section, focusing on post epidemic repair opportunities. Focus on the animation film leader [light (the company expects to realize the net profit attributable to the parent company of 170 ~ 220 million in 21 years, yoy-24.4% ~ – 41.6%)], cinema and content compound leader [Wanda (the company expects to realize the net profit attributable to the parent company of 90 ~ 130 million in 21 years)], Internet platform [cat’s eye], etc.
4) generation Z and community, maintaining high growth and high stickiness. Keep, a sports technology company, submitted a listing application to the Hong Kong stock exchange. Pay attention to [Bili], trendy play [bubble Mart] and [Chuang Meng, aofei], etc; Online reading and IP operation [reading], online Q & a community [Zhihu], online music [Netease cloud], etc.
5) for e-commerce and industrial chain, the first meeting of the leading group for security management of delivery channels in 22 years was held in Beijing on the 24th. E-commerce platforms [JD (announced to increase its holdings of dada group to 52%), pinduoduo and Ali (the third quarter revenue of fiscal year 22 was 242580 billion yuan, yoy + 10%, the operating profit was 7.068 billion yuan, yoy-86%, and the adjusted net profit attributable to the parent company was 44.822 billion yuan, yoy-26.1%)] And live broadcast Kwai (jitter) (Tiktok electric business is expected to be 21 years GMV highest of about 6 billion yuan, Tiktok shop adds three sites in Thailand, Vietnam and Malaysia), tiktok (Taobao and Jingdong will not be able to distribute goods and services links in the live shopping cart), industrial chain [ Saturday Co.Ltd(002291) , Yao Ji, gravity], marketing technology, etc. Byte benefit [ Three’S Company Media Group Co.Ltd(605168) , Zhewen Interactive Group Co.Ltd(600986) ]; 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
