One week performance review
Last week, the CSI 300 index fell 0.67%, and the Shenwan media index fell 0.24%, outperforming the CSI 300 index by 0.43 percentage points. Among the sub sectors, the digital media sector performed better, up 3.24%. In terms of individual stocks, Beijing Enlight Media Co.Ltd(300251) (+ 13.18%), G-Bits Network Technology(Xiamen)Co.Ltd(603444) (+ 9.18%) and Zhejiang Century Huatong Group Co.Ltd(002602) (+ 7.69%) increased significantly last week; Larger decreases were Guangzhou Wahlap Technology Corporation Limited(301011) (- 6.25%) and Kingnet Network Co.Ltd(002517) (- 4.30%).
Industry dynamic data
Ranking of mobile game list: the related games of listed companies that entered the top 50 of IOS bestseller list last week include: magic tower ( Perfect World Co.Ltd(002624) ), Yinian Xiaoyao ( G-Bits Network Technology(Xiamen)Co.Ltd(603444) ), Douluo continent: soul master duel ( Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ), asking questions ( G-Bits Network Technology(Xiamen)Co.Ltd(603444) ), dream new killing Immortals ( Perfect World Co.Ltd(002624) ), song of Cloud City ( Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ), Perfect World Co.Ltd(002624) ( Perfect World Co.Ltd(002624) ) Zhu Xian ( Perfect World Co.Ltd(002624) ) and call me big shopkeeper ( Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ). “Magic tower” has maintained its ranking at the top 5 of IOS bestseller list since its launch, with excellent performance.
New test mobile games: nearly 20 new test games were opened this week. One game belongs to A-share listed company, which is the “power city” developed and issued by Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) .
Investment advice
Internet: on December 23, Tencent holdings announced that it planned to distribute 457 million shares of JD group to shareholders as an interim dividend. After the dividend distribution is completed, Tencent’s equity ratio in JD will be reduced from 17.0% to 2.3%, and it is no longer the largest shareholder of JD. Liu Chiping, executive director and President of Tencent, has also resigned as a director of JD group. However, the business cooperation between the two sides will continue to be implemented through the strategic cooperation agreement. The reduction has limited impact on JD’s short-term operation. We pay attention to the renewal of the follow-up cooperation agreement. On the one hand, Tencent’s “dividend distribution” reduction of JD is to comply with the general policy of antitrust supervision. On the other hand, the market’s expectation of Tencent’s realization of long-term strategic investment income has increased.
E-commerce: due to the evasion of taxes by some means during 2019-2020, Weiya was recovered according to law, imposed late fees and fined a total of 1.341 billion yuan. At the same time, Weiya’s anchor account was frozen. In the short term, this event may lead to a certain impact on the live streaming traffic of Amoy e-commerce; In the long run, the waist and even the long tail are expected to occupy more market share, or promote the healthy development of e-commerce live broadcasting ecology.
Risk statement
Stricter supervision, declining industry growth, intensified industry competition and goodwill impairment risk
(Shanghai Securities)
