Market Overview: in the last week of 2021, CITIC’s primary media sector rose by 3.5%, ranking first in the growth of CITIC’s sector. In 2021, CITIC’s media sector rose by 6.58%, and yuanuniverse led the media to achieve rapid growth at the end of 2021. In the medium term, after experiencing the impact of intensive policies in 2021, the valuation of the media sector is at the bottom of history. However, according to our calculation, the impact of policies on the income of some industries (such as games and long video Membership Business) is limited. After the subsequent normalization, the fundamentals are strong, and the company is expected to resume stable performance growth, Stocks with good fundamentals for a long time have reached a better price position from the perspective of medium-term allocation. At the same time, yuanuniverse will continue to provide catalysts for the sector and improve the valuation level of the sector. It is recommended that investors gradually pay more attention.
[metauniverse] oculus Christmas sells well, and metauniverse applications continue to land. In the field of VraR, the polygonal world VR experience version was launched on Pico and quest platforms on December 30, and Pico opened an internal half price activity in byte mall; In the field of virtual human, Baidu released the intelligent digital human platform “Baidu Intelligent Cloud Xi Ling”, the digital idol Gina official Xuan Shanghai’s first eight hundred companion year-end celebration. We believe that giants at home and abroad focus on the multi-dimensional ecological layout of software, hardware and content around the meta universe, and the continuous landing of industries has brought about a plate catalytic market. Short term or partial theme investment. In the long term, there are a lot of investment opportunities in VraR, blockchain, virtual reality content production and other links. It is recommended to focus on high-quality companies with fundamental support and valuation flexibility: [ Visual China Group Co.Ltd(000681) ] (main business recovery + NFT platform will be launched soon), [ Wuxi Boton Technology Co.Ltd(300031) ] (Industrial Internet), [ Hylink Digital Solution Co.Ltd(603825) ] (Star virtual image), [ Bluefocus Intelligent Communications Group Co.Ltd(300058) ] (virtual live studio), etc.
The US group has worked with the Kwai Fu to achieve strategic cooperation. Customer service Kwai Kwai will open the platform to launch the US group small program on the fast track, providing the US group business with complete service capabilities such as package display, voucher, booking and other display, online transaction and after sale service. This cooperation Kwai Kwai uses its more than 300 million of the daily life users to provide traffic advantages. The US group provides mature business, supply and distribution system, effectively docking customer service needs on the fast service platform, establishing “1+1>2” synergy effect, and jointly expanding the development of diversified eco version. For the short video industry, the traffic dividend has come to an end. Advertising is gradually adapting to new regulation. China’s live electronic business sector still has high Kwai rating, or has become a new growth momentum for user growth and commercialization. It is recommended to focus on short video platform [fast technology], MCN[ Saturday Co.Ltd(002291) ] live broadcast of the head, and cash flow out of the station [ Jiangsu Zitian Media Technology Co.Ltd(300280) ]. The regulatory policy of long video platform has limited impact on member business. The new regulations have been issued to further protect content copyright, and arppu has improved to drive growth. It is recommended to pay attention to [ Mango Excellent Media Co.Ltd(300413) ].
[game] forever is ranked among steam’s best-selling and hottest new products of the year. With the policy bottoming, the current game plate β It has bottomed out and subsequently entered the competition of individual stocks α At this stage, the continuous landing of the meta universe industry is also expected to improve the valuation of the game sector. Focus on the arrival of the performance inflection point. The company: [ Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ] Q3’s profit increased by 54.8% year-on-year. Douluo mainland: duel between soul masters continued to be outstanding at home and abroad; [ Perfect World Co.Ltd(002624) ] on the first day of the launch of magic tower, the running water was 50 million yuan, and the Q3 game business improved significantly month on month.
Investment suggestions: the game section focuses on Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Perfect World Co.Ltd(002624) ; Video Kwai continues to recommend Mango Excellent Media Co.Ltd(300413) and fast technology. Key recommendations of live e-commerce Saturday Co.Ltd(002291) ; Bubble mat and Guangzhou Wahlap Technology Corporation Limited(301011) are recommended in the field of fashion play. The yuan universe plate focuses on Visual China Group Co.Ltd(000681) , Hylink Digital Solution Co.Ltd(603825) , Bluefocus Intelligent Communications Group Co.Ltd(300058) , Zhewen Interactive Group Co.Ltd(600986) , Wuxi Boton Technology Co.Ltd(300031) , etc.
Risk tips: policy supervision risk, increased competition risk, and the impact of epidemic situation exceeds the expected risk.
