Key investment points
Market review: this week, the performance of the media sector was average, down 0.24%, outperforming the gem by about 3.75 percentage points (the gem index fell 4.00%); outperforming the market by about 0.43 percentage points (the CSI 300 fell 0.67%).
Industry segments: (1) the game index outperformed the market: CITIC game index (ci005577) fell 0.57%, up 0.1% relative to CSI 300 index. (2) the advertising index outperformed the market: CITIC advertising index (ci005847) fell 1.56%, down 0.89% relative to CSI 300 index. (3) the sports index outperformed the market: Sports index (399804) rose 3.52%, up 5.5% relative to the CSI 300 index. (4) A-share education companies underperformed the CSI 300, while Hong Kong stock education companies underperformed the Hang Seng Index. CITIC education index (ci005816) fell 4.84%, underperformed the CSI 300 index by 2.85%. Hong Kong stock education index (887671) fell 8.32%, underperforming the Hang Seng Index by 4.97%.
Film and television: (1) mango TV announced an increase in member prices. On December 22, mango TV announced an increase in member prices. The monthly package price will be increased by 1 yuan, the quarterly package price will be increased by 5 yuan, and the annual package price will be increased by 10 yuan. In addition, the monthly and quarterly card prices will remain unchanged, and the annual card price will be increased by 20 yuan. (2) The State Administration of radio, film and television has issued a notice regulating the duration of TV dramas. The notice requires that the duration of the positive film of a conventional episode shall not be less than 41 minutes, and if there is any repetition between the end picture of each episode and the start picture of the next episode, the duration shall not exceed 30 seconds.
Game: (1) Perfect World Co.Ltd(002624) sell subsidiaries. Perfect World Co.Ltd(002624) announced that it plans to sell 100% equity of wholly-owned subsidiaries of “perfectworldnorthamerica Corporation” and “perfectworldpublishing B.V” to THQ’s parent company “embacer” at a price of US $125 million. (2) Netease took a stake in Chengdu cat day. Recently, the equity of Chengdu cat day changed, and Hangzhou Netease Leihuo Technology Co., Ltd., a new shareholder, accounted for 16.27999%.
Sports: (1) 80 thousand sports digital collections on the line are “seconds light”, the ant chain provides technical services. From from December 20th to 24th, there were 8 sports digital collections with different themes and different sports themes on Alipay’s “whale probe” applet, and all the collections were on sale for seconds. (2) NHL announced that its players will be absent from the Beijing Winter Olympics. Before the Christmas holiday in North America, NHL announced on its official website that NHL players will be absent from the Beijing Winter Olympics.
Education: (1) Zhejiang defines the requirements for online discipline training. Recently, six departments including the office of Zhejiang Provincial Department of Education issued a notice requiring the existing online discipline training institutions to be changed from filing to approval. (2) Chongqing discipline training institutions have been reduced to 1465. “Double reduction” Chongqing education, civil affairs, market supervision and other departments adhere to strict examination and approval authorities and standardize training service behavior. So far, the city’s 1545 discipline training institutions have reduced 1465.
Key investment points: it is recommended to pay attention to Mango Excellent Media Co.Ltd(300413) (300413) and Wuhan Ddmc Culture & Sports Co.Ltd(600136) (600136).
Risk tip: media policy tightening risk; Risk of business integration or less than expected; New business development is less than expected risk; The content response is less than the expected risk.
