Hylink Digital Solution Co.Ltd(603825) (603825)
Event: on December 29, the press conference of the online education project of the Forbidden City school with the theme of "accumulating collections for thousands of years and passing them on to the cloud" was held in Jianfu palace garden of the Forbidden City Museum. At the meeting, the Palace Museum launched the "palace school online education project".
Investment highlights:
Help inherit excellent traditional culture and continuously release the value of super IP. Hylink Digital Solution Co.Ltd(603825) participate in the construction of the online education project platform of the Forbidden City school, provide systematic digital content of excellent Chinese traditional culture, and help the development of cultural and museum education with innovative technology and content. 1) "Online education resource platform of the Forbidden City Youth Museum": combined with the national "double reduction policy", experts and scholars from the Forbidden City Museum, colleges and universities and scientific research institutes have been gathered to carefully create a systematic and segmented traditional culture education course. All courses will enter the school in the form of public welfare and universal benefit to serve primary and secondary school students across the country, aiming to help teenagers better inherit and carry forward the excellent Chinese traditional culture; 2) The "Forbidden City cloud class" app, an in-depth cloud learning platform of China culture and Expo, is based on the collection of the Forbidden City Museum and jointly built by cultural relics research experts of the Forbidden City Museum. It includes eight audio-visual courses such as Chinese calligraphy and painting, artifacts, ancient buildings and palace life, and links traditional culture education through digital technology. The cloud class app of the Forbidden City has been launched at an Zhuo end, which is jointly developed and operated by the Forbidden City school and Hylink Digital Solution Co.Ltd(603825) Beijing ziforbidden Lantai Culture Communication Co., Ltd.
The Ecological Realization space of "meta universe + Forbidden City" is diversified to achieve a new commercial breakthrough. As a super IP, the Forbidden City has treasure level cultural value and is also an important position for the export of Chinese culture. From the official account, the the Imperial Palace lipstick is really coming! The development of cultural and creative products such as the documentary "I'm repairing cultural relics in the Forbidden City", the variety show "national treasure" and "Shangxin, the Forbidden City" has given new vitality to the Forbidden City, a cultural IP with a long history, and further confirmed the national self-confidence rise of generation Z Internet aborigines and their desire for excellent traditional culture. With the development of 5g, AI, VR, AR, XR and other technologies, the Forbidden City IP is expected to be perfectly combined with the meta universe ecology. ① "Meta universe + education": meta universe can break the limitations of space and time, solve the imbalance of educational resources, and use twin digital technology to build digital Forbidden City Campus and digital simulation teaching, while artificial intelligence and VR technology can realize the combination of virtual and real scenes and real-time interaction; ② "Meta universe + cultural museum": VR and other technologies are used to build a fully immersive Interactive Digital Cultural Museum exhibition hall of the Forbidden City with the attribute of "meta universe", while blockchain technology escorts the transaction and circulation of digital collections; ③ "Meta universe + cultural tourism": use high-tech means to inject soul and vitality into the Forbidden City tourism. Visitors can roam in the illusory space through the control of virtual characters, feel the immersive interactive experience, and create a new cultural tourism business format, such as virtual human tour guide, AR scene photography, AR cultural innovation extension, etc; ④ "Meta universe + social": in the meta universe, users start their second life parallel to the real world in the virtual scene with digital separation, so that generation Z users can get a richer immersive virtual social experience. Combined with the massive IP characters and stories of the Forbidden City, they create an immersive virtual ecology of "meta universe + Forbidden City", and develop virtual scenarios Innovative experiences such as virtual skin value-added services; ⑤ "Meta universe + Live Broadcasting": combining 5g, AI, 4K, Mr and non delay live broadcasting technologies, match real products with 3D scene templates, supplemented by AI engine for rendering, create an effect similar to science fiction movies, and create an immersive shopping experience for cultural and creative products of the Forbidden City.
"Digital marketing + virtual human + Digital RMB + Forbidden City Education IP" resource empowerment, and the company's "Yuan universe" business ecology is emerging. With the rise of the housing economy, the immersive virtual reality combined with interactive experience realized by the meta universe just meets the needs of the business scene in the digital era. As an old global marketing company, the company integrates three advantageous business segments: information technology marketing service, new retail and comprehensive content creation, superimposing the technical resource advantages of virtual human, the qualification barrier of digital RMB and the super IP empowerment of the Forbidden City Education, which is expected to further improve the construction of the closed-loop business ecology of yuanuniverse, Realize the innovative subversion of immersive virtual reality combined with business scenarios, and truly activate the commercialization potential of "meta universe +" applications.
Profit forecast and investment rating: it is estimated that the net profit attributable to the parent company in 21-23 years will be RMB 281 / 519 / 677 million respectively, EPS will be RMB 1.11 / 2.05 / 2.67 respectively, and the corresponding PE will be 27 / 15 / 11 times respectively, maintaining the "buy" rating.
Risk tips: macroeconomic downturn, repeated epidemics, intensified industry competition, and new businesses are not as expected
