This week’s performance of the media sector: outperforming Shanghai and Shenzhen 300 and losing the gem index. This week (March 14-march 18), the media industry fell 0.52%, outperforming CSI 300 (- 0.94%) and losing the gem index (1.81%). Among them, the top gainers are Everyday Network Co.Ltd(300295) , Zhejiang Juli Culture Development Co.Ltd(002247) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Omnijoi Media Corporation(300528) , etc; St Chenxin, Zhejiang Talent Television & Film Co.Ltd(300426) , Shanghai Longyun Cultural Creation & Technology Group Co.Ltd(603729) , Qitian Technology Group Co.Ltd(300061) , and St youjiu were the top decliners. In terms of horizontal comparison, the media sector ranked sixth in terms of rise and fall among all sectors this week. The ranking was significantly improved compared with last week, and some industry leaders performed prominently.
Industry trends: Himalaya submitted the prospectus again, Tencent video adjusted the member price, and Bluefocus Intelligent Communications Group Co.Ltd(300058) digital collection distribution platform meme was launched. 1) Himalaya, China’s largest online audio platform, updated the prospectus. According to the disclosure, in 2021, the number of content creators exceeded 13.51 million, the overall number of audio was 340 million, and the number of audio books was 4.9 million, covering more than 100 types of extensive audio content. Mau reached 268 million, with a year-on-year increase of 24.4%; In 2021, the revenue was 5.86 billion yuan, with a year-on-year increase of 43.7%, mainly including paid subscriptions, advertising, live broadcasting and other innovative products and services. Among them, paid subscriptions have contributed more than 2.99 billion yuan in revenue in 21 years, accounting for 51.1% of the overall revenue. They are the main source of revenue of the company. 2) On April 9, Tencent video announced that it would adjust the prices of Tencent video VIP and super film and television VIP at 0:00 on April 20. Among them, the prices of several packages of VIP monthly card and super film and television VIP remained unchanged. The price of VIP continuous monthly package was adjusted from 20 yuan to 25 yuan, the price of super film and television VIP continuous monthly package was adjusted from 30 yuan to 35 yuan, and the price of Tencent video VIP annual card was adjusted from 253 yuan to 258 yuan. 3) On April 7, meme applet, the first digital collection distribution platform incubated by Bluefocus Intelligent Communications Group Co.Ltd(300058) group, was launched and the first phase of digital collection distribution project was launched, which became the coexistence of Bluex blockchain laboratory and UDA Digital Artists Alliance. Meme is committed to becoming Web3 0 era brand digital asset management platform and interactive community, build a digital asset hub of the meta universe, connect brands, content creators and digital artists, and provide users with unprecedented interactive experience of digital collections.
Investment suggestions: 1) policy bottom up, continuous optimistic about the overfall industry leader and some beneficial policies to improve the subdivision industry to upgrade possible, recommend subdivision sector leader Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Mango Excellent Media Co.Ltd(300413) , Focus Media Information Technology Co.Ltd(002027) , Hong Kong stock recommended beep Kwai, bubble Matt, fast hand and other targets, and the overall underestimation of the game board (recommended Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Shanghai Yaoji Technology Co.Ltd(002605) , heartbeat company and other targets); 2) The theme of yuancosmos has been fully adjusted. In the medium and long term, it is still expected to run through the whole year, and the segmentation continues to be optimistic: a) NFT of digital assets is expected to derive more application fields, focusing on Visual China Group Co.Ltd(000681) , Zhewen Interactive Group Co.Ltd(600986) , Three’S Company Media Group Co.Ltd(605168) , Zhejiang Huamei Holding Co.Ltd(000607) , Duzhe Publishing&Media Co.Ltd(603999) , Zhejiang Huace Film And Tv Co.Ltd(300133) , Fubo group, etc; b) Virtual digital people pay attention to bottom marketing companies and film and television content companies to usher in the possibility of upward valuation, and pay attention to Bluefocus Intelligent Communications Group Co.Ltd(300058) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Saturday Co.Ltd(002291) and other targets.
Risk tips: regulatory policy risks; Performance risk; Goodwill and asset impairment risk.
