View update this week
During the two sessions, games, education, metauniverse, copyright, books, films, short videos and artist brokers were mentioned. After the two sessions, relevant policies are expected to be implemented one after another. From top to bottom, the 14th five year plan has provided top-level document guidance for the development of the industry. From the bottom up, new shares such as zhaoxun media, Lehua entertainment, Xiaoying technology, keep and VSPN hero sports have successively disclosed their prospectus, and then Chinese Confucianism and Italy took over Hengteng network. From policy guidance to enterprise capitalization, it highlights the continuous progress of the wheel of industry development, from the survival of the industry to the self correction of stock enterprises, and then to the rise of new power enterprises, Stock and new increment in parallel; On the policy side, from antitrust to the restart of game version number to be determined, and then to the policy amendment in the development of meta universe, all lay the foundation for the medium and long-term sustainable and healthy development of the industry. Plate adjustment and the establishment of a new order are expected to accumulate strength for the redevelopment of the next stage from the perspective of fundamentals and valuation.
This week focuses on recommending individual stocks and logic
Give the media new consumer industry an overweight rating. We can pay attention to the sectors with relatively dominant medium-term valuation and in line with the long-term objectives of the 14th five year plan (cultural power, sports power, publishing power, film power, etc.) Shanghai Yaoji Technology Co.Ltd(002605) (pay attention to the follow-up progress of star card, and further improve the valuation of fanatics, an overseas leading enterprise), Bluefocus Intelligent Communications Group Co.Ltd(300058) (jointly launch the dark horse yuan universe digital man accelerator with Dark Horse Technology Group Co.Ltd(300688) ), Mango Excellent Media Co.Ltd(300413) (on March 4, mango TV and Huawei video exclusive members were integrated and launched), Alpha Group(002292) (the 2022 toy and baby strategy has been released) Chinese Ruyi (renamed from Hengteng film industry to Chinese Ruyi, the content production and pumpkin film app of Ruyi film industry are expected to break through the new order), Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) and Beijing Fengshangshiji Culture Media Co.Ltd(300860) (both are expected to benefit from the yuan universe experience economy), Zhejiang Daily Digital Culture Group Co.Ltd(600633) (focus on the digital culture and digital technology industry, and pay attention to the subsequent construction of Fuchun cloud data center) Book reading section ( Citic Press Corporation(300788) , Thinkingdom Media Group Ltd(603096) ). In the film sector, imported films were mainly released in March 2022. In the short term, due to the fluctuation of the epidemic situation in some areas, the demand for offline film viewing fluctuated, and the effectiveness of epidemic control such as static appeared.
Risk tips
The risk of industrial policy change, the risk that the performance of the recommended company is less than expected, and the risk of industry competition; The risk of changes in editing and broadcasting policies, the risk that the progress of film and television works is not as expected, the risk that they have not been filed, and the risk that their operation does not meet the expectations; Epidemic fluctuation risk and macroeconomic fluctuation risk.
