Portfolio: I. Mango Excellent Media Co.Ltd(300413) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Shanghai Yaoji Technology Co.Ltd(002605) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Visual China Group Co.Ltd(000681) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Focus Media Information Technology Co.Ltd(002027) , Alpha Group(002292) . Two, benefit groups, fast hands, Tencent, American League, heartbeat company, Kwai Meng world. 3、 Perfect World Co.Ltd(002624) , Zhewen Interactive Group Co.Ltd(600986) , China South Publishing & Media Group Co.Ltd(601098) , Shanghai Lisheng Racing Co.Ltd(002858) , Southern Publishing And Media Co.Ltd(601900) , etc. The theme of NFT is to invest in people, digital game and digital asset. 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) , Zhejiang Jinke Tom Culture Industry Co.Ltd(300459) , Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) , Chinese Universe Publishing And Media Group Co.Ltd(600373) , Zhejiang Daily Digital Culture Group Co.Ltd(600633) , Cubic Digital Technology Co.Ltd(300344) , Silkroad Visual Technology Co.Ltd(300556) , etc.
Investment suggestions: the policy underpins the platform economy, and the valuation of media interconnection is at the bottom. The investment can be arranged in the medium and long term. Looking back on the market impact of media Internet in the past period of time, in addition to the Russian Ukrainian war, epidemic changes and capital market capital flows, it mainly focuses on the management of practitioners such as business disclosure in the first and third quarter of the annual report, antitrust policy, platform economic governance, data security, copyright issues, star artist anchor and so on, The problem of game version number, the prevention of minors’ Internet addiction, or the supervision of some industry policies. 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.
Quick release 2021 results, advertising sales and live Kwai long electricity providers continue to grow
In March 29th, Kwai Chung released its 2021 performance report, of which Q4 revenue was 24 billion 430 million yuan, an increase of 35%. The loss in a single quarter was 6.203 billion yuan, compared with 19.264 billion yuan in the same period last year. In the fourth quarter, the revenue of online marketing and live broadcasting increased by 55.5% and 11.7% respectively, and the revenue of other businesses promoted by e-commerce increased by 40.2%. The total volume of Q4 Kwai sum increased by 57.6%, with an average of 323 million 300 thousand and 578 million respectively. MAU and DAU increased by 19.2% and 21.5% respectively. In the whole year, the total revenue increased by 37.9% to 81.082 billion yuan, the online marketing revenue increased by 95.2% to 42.7 billion yuan, and the total e-commerce transactions increased by 78.4% to 680 billion yuan. Video industry Kwai Fu related stakeholders, Tencent holdings, Mango Excellent Media Co.Ltd(300413) and so on.
Bubble Mart released its financial report for 2021, and its net profit increased by 63.6% with the continuous improvement of IP incubation capacity
On March 28, bubble Mart disclosed the financial report of 2021, with a total annual revenue of 4.491 billion yuan, an increase of 78.7% at the same time; The net profit was 855 million yuan, an increase of 63.6%. The company’s own IP influence continued to improve. Molly’s revenue increased by 97.6% to 705 million yuan, accounting for 15.7%. Dimoo’s and skullpanda’s revenue increased by 79.8% and 1423.8% respectively. In terms of channels, 106 offline stores, 510 Siasun Robot&Automation Co.Ltd(300024) stores, apps, jd.com flagship stores and tmall flagship stores were newly opened in the mainland throughout the year, with their annual revenue increasing by 92.6%, 296.0% and 47.5% respectively. The total number of registered members increased from 12.18 million to 19.58 million, and the sales contributed by members accounted for 92.2%. With the standardized implementation of the regulations on the supervision of blind boxes in January this year, the construction of the membership system of the tide game industry may be strengthened for a long time. At this stage, grasp the companies with excellent performance and undervalued performance in the annual report and the first quarterly report of media Internet, and the related beneficiary objects Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Mango Excellent Media Co.Ltd(300413) , Shanghai Yaoji Technology Co.Ltd(002605) , Visual China Group Co.Ltd(000681) , Zhewen Interactive Group Co.Ltd(600986) , etc.
Risk tips: repeated epidemics, less than expected technological development, goodwill risk, changes in regulatory policies, etc.
