Portfolio: I. Mango Excellent Media Co.Ltd(300413) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Focus Media Information Technology Co.Ltd(002027) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Visual China Group Co.Ltd(000681) , Shanghai Yaoji Technology Co.Ltd(002605) , Alpha Group(002292) . Two, benefit groups, fast hands, Tencent, American League, heartbeat company, Kwai Meng world. 3、 Perfect World Co.Ltd(002624) , Zhejiang Daily Digital Culture Group Co.Ltd(600633) , China South Publishing & Media Group Co.Ltd(601098) , Southern Publishing And Media Co.Ltd(601900) , Chinese Universe Publishing And Media Group Co.Ltd(600373) , etc.
Investment theme: undervalued platform economy company, stable Northern United Publishing & Media (Group) Company Limited(601999) , sports, games and video.
Beneficiaries: overseas companies include Netease, reading group, BiliBili, bubble mart, ZuLong entertainment, China Mobile Games, Baiao family interaction, chizicheng technology, etc Zhejiang Century Huatong Group Co.Ltd(002602) , Kingnet Network Co.Ltd(002517) , Hangzhou Electronic Soul Network Technology Co.Ltd(603258) , Zhewen Interactive Group Co.Ltd(600986) , Shanghai Lisheng Racing Co.Ltd(002858) , Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) , Cubic Digital Technology Co.Ltd(300344) , Lootom Telcovideo Network(Wuxi) Co.Ltd(300555) 6 etc.
Investment suggestion: the policy underpins the platform economy, the valuation of media interconnection is at the bottom, and the investment can be arranged in the medium and long term
Looking back on the past period of time, the market impact of the media Internet, in addition to the Russian Ukrainian war, epidemic changes and capital market capital flows, mainly focuses on the business disclosure of the first quarterly report of the annual report, antitrust policy, platform economic governance, data security, copyright issues, the management of practitioners such as Mingxing artist anchor, game version number issues, minors’ network addiction prevention, or some industry policy supervision. Among them, the concerns about the platform’s economic governance, version number approval, and some regulatory policies dominate. In view of the above problems, the meeting of the finance committee pointed out that with regard to the governance of the platform economy, the relevant departments should improve the established plan in accordance with the principles of marketization, legalization and internationalization, adhere to seeking progress in stability, steadily promote and complete the rectification of large platform companies as soon as possible through standardized, transparent and predictable supervision, and set up red lights and green lights to promote the stable and healthy development of the platform economy and improve international competitiveness. We believe that we should deeply understand the instructions of the financial commission, develop steadily and healthily and improve international competitiveness. Platform economy plays an important role in national economy, scientific and technological innovation and international market. Its healthy development and participation in international competition is the general trend. We believe that the development of the industry needs to be standardized, the policies have been implemented in an orderly manner, the investment understands the supervision, and the supervision aims at the steady and healthy development of the industry. The standardized development of the industry under supervision is a common demand, which can be optimistic. The industry will not die out, and there is a broader international market. At present, based on the whole year of 2022, especially the annual report and the first quarterly report window, we should strengthen the allocation, combine attack and defense, and grasp the opportunity of undervaluation in the industry.
Mango and other members to send voice tiktok Sohu around two authorized cooperation, the industry will benefit copyright protection and user growth.
At present, many citizens in many places are in the period of epidemic isolation. Mango TV, blockbuster TV, BiliBili, Migu video and other Internet enterprises send free membership cards to citizens in the epidemic area. Since March 16, mango TV members have joined forces with mango public welfare and mango TV smart screen to launch the “home card free” activity in Shanghai, Shenzhen, Qingdao, Changchun, Jilin and other places, including high-quality content viewing rights and interests. In March 17th tiktok and Sohu tiktok, jitter, watermelon video, today’s headlines won the two authorizations of Sohu’s own homemade films and TV works. In the future, cooperation will continue to be launched in creative marketing or video collection. Copyright protection will strengthen the marketing channel for escorting the platform. The streaming media industry will benefit from copyright protection and user value in the long run. The target of the media will be Mango Excellent Media Co.Ltd(300413) , Kwai Fu, Wen Wen group and Zhejiang Huace Film And Tv Co.Ltd(300133) .
The financial Commission pointed out that maintaining the stability and consistency of expectations and responding to hot issues concerned by the market in a timely manner are beneficial
The meeting of the Finance Committee stressed that relevant departments should earnestly assume their responsibilities, actively introduce policies conducive to the market and prudently introduce contractionary policies. We should respond to the hot issues concerned by the market in time, maintain the stability and consistency of policy expectations, and be accountable when necessary. At the same time, the anti-monopoly work conference of the national market supervision system pointed out that in 2022, we should focus on boosting market expectations and confidence; Focus on improving the international voice in the field of competition rules. We believe that the industry policy will be gradually clear, such as game number, etc., the industry distribution short-term stable publication, the long-term layout Game track, etc., to grasp a quarterly window, the relevant beneficiaries have China South Publishing & Media Group Co.Ltd(601098) , Southern Publishing And Media Co.Ltd(601900) , Tencent holdings, NetEase, Kwai Fu, Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Shanghai Yaoji Technology Co.Ltd(002605) , Perfect World Co.Ltd(002624) , Alpha Group(002292) , Zhejiang Century Huatong Group Co.Ltd(002602) and so on.
Risk tips: repeated epidemics, less than expected technological development, goodwill risk, changes in regulatory policies, etc.
