Key investment points
Market review: this week, the performance of the media sector was average, down 0.39%, outperforming the gem by about 3.36 percentage points (the gem index fell 3.75%); Underperformed the market by about 1.29 percentage points (CSI 300 fell 1.68%).
Industry segments: (1) the game index outperformed the market: the CITIC game index (ci005577) rose 1.17%, up 2.85% relative to the CSI 300 index. (2) The advertising index underperformed the market: the CITIC advertising index (ci005847) fell 3.09%, 1.41% lower than the CSI 300 index. (3) The sports index outperformed the market: the CSI sports index (399804) rose 1.18%, 2.86% higher than the CSI 300 index. (4) A-share education companies outperformed CSI 300, while Hong Kong stock education companies underperformed Hang Seng Index. CITIC education index (ci005816) rose 0.8%, outperforming the CSI 300 index.
Film and television: (1) iqiyi announced to raise 285 million US dollars. On March 4, iqiyi announced that it had signed subscription agreements with Baidu, oasis Management Company Ltd. and other investment institutions. (2) Mango TV’s solo drama “Shangshi” broke 900 million on the 12th day after its launch. On March 5, Shangshi’s cumulative broadcast volume exceeded 900 million, the highest for 12 consecutive days.
Game: (1) after the success of “light encounter”, Chen Xinghan studio received a huge financing of US $160 million. This round of investment is led by TPG and Sequoia Capital, which will help thatgame company develop its development team and organizational structure. (2) We have reached cooperation with Qualcomm. The two sides will cooperate in XR hardware and software, and will use Qualcomm Technology to develop XR equipment.
Sports: (1) the schedule of the 24th Cuba Southeast Division was released. On March 16, Hengdian, Zhejiang Province started the competition, and the competition activities will be carried out in the order of southeast southwest northwest northeast competition area. (2) Fanatics received another US $1.5 billion in financing after its business expansion. During the period from August 2020 to August 2021, fanatics received three financing and its valuation soared from US $6.2 billion to US $18 billion.
Education: (1) the national intelligent education platform for primary and secondary schools is online, and all resources are used free of charge. On March 1, it was put into trial operation. The platform includes six kinds of resources: special education, curriculum teaching resources, after-school services, teacher training, family education, practical experience of teaching reform and so on. (2) 9-month revenue of 2.63 billion, chalk technology went to Hong Kong for IPO. On February 28, chalk technology, a vocational education platform, submitted an IPO prospectus to the Hong Kong Stock Exchange and officially launched the listing plan. CICC, Citigroup and Bank of America Securities were the co sponsors.
Key investment points: it is recommended to pay attention to Mango Excellent Media Co.Ltd(300413) ( Mango Excellent Media Co.Ltd(300413) ).
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.
