Key investment points:
Industry trends & Company News
Hong Kong Disney suffered losses for seven consecutive years. Last year, the net loss narrowed to HK $2.4 billion. Netease media created the industry’s first long-term panoramic yuanuniverse marketing solution, and the operating rate of cinemas across the country fell to less than 50%
Important announcements of listed companies
Beijing Gehua Catv Network Co.Ltd(600037) : 2021 performance express
Investment advice
This week, the performance of the cultural media industry was neutral, some oversold stocks in the industry performed better, and some stocks of the concept of meta universe rebounded at the bottom. This week, we continue to suggest that the central line pay attention to the driving role of meta universe theme in the industry. The 2022 global meta universe conference hosted by China Mobile Communications Federation will be postponed to April 20, which will also be beneficial to meta universe at that time. Second, we suggest to pay attention to the leading companies with excellent performance in the annual report of 21 years and the quarterly report of 22 years. Some companies’ short-term operations fluctuate slightly due to the epidemic, the current valuation is at a historically low position, and the investment value from the long-term perspective has not changed; Third, we suggest paying attention to the radio and television sector. The industry valuation is relatively low. The continuous integration of the national one network will form a strong support for the overall competitiveness of the industry in the future. To sum up, we continue to maintain the “optimistic” investment rating of the media industry and recommend Focus Media Information Technology Co.Ltd(002027) ( Focus Media Information Technology Co.Ltd(002027) ), Guangzhou Jinyi Media Corporation(002905) ( Guangzhou Jinyi Media Corporation(002905) ), G-Bits Network Technology(Xiamen)Co.Ltd(603444) ( G-Bits Network Technology(Xiamen)Co.Ltd(603444) ), Wasu Media Holding Co.Ltd(000156) ( Wasu Media Holding Co.Ltd(000156) ), China Film Co.Ltd(600977) ( China Film Co.Ltd(600977) ).
Risk tips
Macroeconomic downturn; Major policy changes in the industry; Industry demand does not meet expectations; The progress of state-owned enterprise reform did not meet expectations, and the black swan incident continued to have an impact.
