View update this week
Since the beginning of March 2022, Shenzhen, Shanghai and other places have fought back against the epidemic, which has brought short-term economic pressure after the partial suspension of cities. In the offline business model, in March 2022, the split box office of the cinema terminal was 830 million yuan (a year-on-year decrease of 63%), and the number of film viewers was 24 million times (a year-on-year decrease of 64%). In March, the fluctuation of the epidemic caused a short-term impact on the operation of the cinema; The online mode is mainly video and content. In the financial media, due to the short-term suspension of the supply of some variety entertainment content, the mood of the sector is depressed, and the expectation of restarting the game version number on the content side is twists and turns. If the restart is expected to help repair the mood in the short term, but the core still depends on the supply of high-quality products; Online live broadcast e-commerce policies are gradually optimized to create better tax common sense, which is conducive to fair competition. The forecast growth or decline of the first quarter report in 2022 and the impact of the epidemic fluctuation on the sector are expected to be about two weeks. In the first quarter of 2022, the target of some stocks in the new consumption sector of media and Internet is a relative performance low. We are optimistic about the performance repair and growth expectation of the sector in the second quarter. As the starting month of the second quarter, April is also the landing month of the annual report and the first quarterly report. After the early expectation is landed, the next round of new expectation will be opened. April is also a better window for the market layout of the second quarter.
This week focuses on recommending individual stocks and logic
Give the media new consumer industry an overweight rating. April is the month when the performance of the annual report and the first quarter report is expected to land, and it is also the month when the performance of the second quarter is expected to open. You can pay attention to the main lines of the two sectors of the second quarter performance repair or growth and yuanuniverse Shanghai Yaoji Technology Co.Ltd(002605) (the first quarterly performance forecast is bad, the second quarter performance can be repaired, the new business is promoted in an orderly manner, and the quarterly performance fluctuation does not change the annual expectation) Bluefocus Intelligent Communications Group Co.Ltd(300058) (its “blue universe” marketing space was officially launched and settled in Baidu xirang, becoming China’s first “meta universe marketing space”, and the company gradually improved the meta universe layout in the dimensions of people, goods and market) Mango Excellent Media Co.Ltd(300413) (mango TV digital collection based on light chain has launched new digital collections one after another); Station B BiliBili (launch special bullet screen products, effectively stimulate the interaction between users and brands, and help the company’s brand advertising business) Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) (the meta cosmic framework has taken shape); Chinese Confucianism and Italy (high profit in 2021, continuous new films of pumpkin movies on online viewing APP) Zhejiang Huace Film And Tv Co.Ltd(300133) (the first commemorative digital collection launched by Alibaba auction) Zhewen Interactive Group Co.Ltd(600986) (from digital marketing to digital culture, the main business is solid, and the new business is flexible).
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.
