In the financial reporting season, we will continue to lay out the target of high-quality Internet of Hong Kong stock connect with good performance trend
According to the annual report of Yuewen group, in 2021, the company's operating revenue and non IFRS net profit attributable to the parent company increased by 2% and 34% year-on-year respectively. In 2020, when a high base was formed due to covid-19 epidemic, the company's online business revenue still increased by 10% year-on-year in 2021, and the average dau of free reading increased by 50% year-on-year, and the average Mau of Tencent's self operated channels increased by 23% year-on-year, It reflects the effectiveness of the company in actively making up for weaknesses after the change of management, and the synergy between the company and Tencent has begun to reflect. The follow-up copyright operation and IP realization performance are still worth looking forward to. In addition, the epidemic situation across the country in 2022 has repeatedly or again brought the increment of online reading time, which has brought flexibility to the performance in the first half of 2022. Kwai will release its 2021 earnings report in March 29th. We judge that with the adjustment of the company's organizational structure and the changes of overseas marketing strategies in the second half of 2021, the sales cost rate will decline and profitability will be improved. In addition, according to QuestMobile data, the total length of China's short video users in December 2021 accounted for 4.7 percentage points to 25.7% of Internet users' total time, or that Kwai TSE's rapid increase in user penetration and user stickiness was further promoted by the rapid commercialization of the December 2020. At present, the Kwai Kong financial reporting season, we suggest that we continue to actively layout the 2021 Q4 and the first half of 2022 to better the performance trend, after the valuation has dropped sharply after the Hong Kong stock has a higher margin of safety through the quality of the Internet, the key recommendation of fast -W, reading group, the beneficiary targets include Tencent control shares, cloud music, Fubo group.
Strengthen the allocation of the game sector, preferably if the version number is issued, the performance is flexible or the subject matter is large
Due to the reduction of version number distribution and the continuous improvement of users' requirements for game quality, since 2019, China's game R & D cycle has been lengthened as a whole, the supply has been reduced, long-term operation has become a trend, and the proportion of old game flow has been increasing. According to gamma data, in the top 100 of China mobile game flow in 2021, the number of games that have been online for 4 years or more accounted for more than 45%, while in 2019, the proportion was less than 35%. In the case that China has not issued the new version number since September 2021, companies with outstanding long-term operation ability of games and stable flow of old games may fully benefit. If the subsequent new version number is issued, the performance flexibility of companies with rich research reserves may be greater. In addition, due to the year-on-year base effect and the implementation of strict anti addiction measures for minors in September 2021, the year-on-year growth rate of quarterly performance of listed game companies in 2022 may show a trend of low before and high after, and the issuance of new numbers may be driven by both valuation and performance growth. At the current valuation low, we suggest that we propose to strengthen the allocation of game sectors at the current valuation low, and we suggest that we strengthen the allocation of game sectors, preferably companies with numbers, elastic performance or big or resilient performance, preferably companies with large numbers, and preferred companies, companies with resilient or resilient performance, and focus on cardioheart companies, Hongda Xingye Co.Ltd(002002) 62624 .
After adjustment, continue to pay attention to the virtual human / virtual community and NFT track with rapid commercialization in the meta universe field
Or due to the risk aversion caused by the macro environment and liquidity factors outside China, the valuation of relevant companies in the meta universe field has dropped significantly recently, but the commercialization of virtual human / virtual community and NFT and other tracks is still advancing rapidly. For example, on March 21, Beijing Quanshi World Online Network Information Co.Ltd(002995) announced that the "infinite box" experience version of its virtual digital commercial product was officially launched, On March 23, Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) jointly sold the 2022 special edition digital collection of Yuanqi Forest Music Festival in China. We believe that the meta universe or the digital universe is an important direction for the development of digital economy, and we believe that the cosmouniverse or the digital universe is an important direction for the development of digital economy. Virtual humans, NFT and other fast commercialized tracks such as virtual humans, NFT and NFT are part of the direction of digital economy. Some of the quality targets of some of the better targets in fast commercialized tracks such as virtual humans, NFT and NFT. Some of the quality targets have been well priced for good after valuatvalues fall back. It's recommended to actively deploy, with a focus on Guangdong Senssun Weighing Apparatus Group Ltd(002870) 0287878 , Three'S Company Media Group Co.Ltd(605168) , Visual China Group Co.Ltd(000681) .
Risk tip: the performance of the general standard of Hong Kong stocks is less than expected, and the time of issuing the game version number is uncertain.
