Trend overview:
This week (2022.3.282022.4.4), the SW media sector index rose 4.13%, the Shanghai stock index rose 2.19%, the Hang Seng technology index rose 8.92%, the Hang Seng China enterprise index rose 6.69%, the Hang Seng Index rose 5.13%, and the NASDAQ China technology stock index rose 8.77%.
Key event tracking:
Tencent PCG strengthens the management assessment and improves the elimination mechanism, which is conducive to improving the organizational combat effectiveness. The online video business department of Tencent platform and content business group (PCG) will strengthen the assessment of management and implement the appointment system among nearly 100 management cadres at the director level from April. The online video Bu group of PCG business group was established in April 2021 to integrate Tencent video, micro vision and application treasure services. The purpose of this integration is to combine the content resources of long video with the technical ability and channel distribution function of short video, open up the commercialization ability and form the industrialization ability in the video field. According to third-party media, the tenure of Tencent management cadres is generally divided into three years, six years and no fixed term. Most management cadres can "renew their employment for life" without making big mistakes. We believe that this assessment mechanism is not conducive to maintaining the driving force of organizational innovation. With the adjustment of the assessment mechanism, Tencent PCG implemented the appointment system to the level of basic managers for the first time, which is conducive to improving the quality of management talents, providing more sufficient rising channels for young talents, and finally improving the organizational combat effectiveness.
Meituan has completed the test based on 5g low altitude distribution network, and another substantive progress has been made in the exploration of UAV distribution. Recently, Longhua Jinxiu Science Park has built the first 5g private network demonstration park in Shenzhen, and meituan's 5g based low altitude distribution network has completed the test. The transportation capacity gap has become a hidden worry for meituan's takeout business to maintain expansion in the medium and long term. In order to supplement the transportation capacity, the company has made a forward-looking layout and continued to cultivate the field of unmanned distribution. In 2021, meituan's R & D cost was 16.68 billion yuan, a year-on-year increase of 53.1%. Meituan UAV distribution is a leader in the industry. It is committed to building a low altitude logistics network with a delivery distance of 3 kilometers and 15 minutes. In 2021, meituan UAV completed the first order distribution task for real users in Longhua District, Shenzhen. In the past year of normal trial operation, it has covered more than 8000 households and completed 30000 orders for real users. The experiment of 5g based low altitude distribution network has been completed, which is another substantive progress in the exploration of meituan UAV distribution.
Risk tips: changes in regulatory policies, large fluctuations in the macro economy, lower than expected growth rate of the industry, repeated outbreaks have an impact on subdivided industries, etc
