Review of market and sector trends: last week, the media sector index fell 4.12%, the Shanghai Composite Index fell 0.94%, the Shenzhen Component Index fell 2.20%, and the gem index fell 3.64%. Top three gainers in the sector: Fuchun Technology Co.Ltd(300299) (+ 6.18%), Three’S Company Media Group Co.Ltd(605168) (+ 3.03%), Kaiser (China) Culture Co.Ltd(002425) (+ 1.23%); The top three declines in the sector: Hengxin Shambala Culture Co.Ltd(300081) (- 22.24%), Shunya International Martech (Beijing) Co.Ltd(300612) (- 15.87%), Col Digital Publishing Group Co.Ltd(300364) (- 11.99%). Last week, the NASDAQ China technology index fell 2.27% and the Hang Seng China enterprise index fell 0.62%.
One week’s view: the Zhou Yuan universe index fell 4.29%, and the Tiktok and +6.18% partners were more prominent than tiktok, +6.18%, Three’S Company Media Group Co.Ltd(605168) (+3.03%) and +1.23%. Recent progress in game version number, digital collection trading and metauniverse summit. In terms of digital collections, the above and Xinhuanetco.Ltd(603888) jointly build a national digital cultural and creative normative governance matrix to guide the rational and orderly development of the digital collection industry. From April 20 to 21, Babbitt will hold the meta universe cloud summit, which may be affected by the epidemic at the same time. Continue to pay attention to the high relevance of the meta universe [ Three’S Company Media Group Co.Ltd(605168) (21 year revenue yoy + 27.18%, net profit attributable to parent yoy + 39.18%), Visual China Group Co.Ltd(000681) , Fuchun Technology Co.Ltd(300299) (byte depth partner), yao ji, blue standard, Zhewen Interactive Group Co.Ltd(600986) , Beijing Fengshangshiji Culture Media Co.Ltd(300860) ], etc.
Focus on the recurrence and progress of game version numbers, repair of undervalued leading stocks, and acceleration of overseas manufacturers going to sea. According to the sensor tower platform, in March 2022, a total of 38 Chinese manufacturers were shortlisted as the top 100 mobile game publishers in the global app store and Google play revenue list, attracting a total of more than $2.22 billion, accounting for nearly 40.2% of the global top 100 mobile game publishers’ revenue. Among them, the revenue of mobile games under Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) increased across the board, the revenue of publishers increased by 11% month on month, and the revenue of “song of Cloud City” increased by 27% month on month The income of “Huanyao” increased by 23%. The revenue of mobile games in the current period increased by 62% month on month Perfect World Co.Ltd(002624) publisher’s revenue increased by 31% month on month, ranking 20th in the list. It is recommended to pay attention to the leaders [Tencent (the heart of Noah will be launched on April 13), Netease (the official announcement of the agent release of war roar will be released on May 26), Panax notoginseng] and undervalued values [yao ji, century, G-Bits Network Technology(Xiamen)Co.Ltd(603444) (the company’s revenue in 21 years is yoy + 68.44%, the parent’s net profit is yoy + 40.34%), perfect].
The epidemic situation in Shanghai is severe, and the e-commerce platform helps ensure supply. The Shanghai government has continued to strengthen the supply of living materials. Alibaba, meituan, jd.com, pinduoduo and other Internet platforms have transferred more personnel and equipment from all over the world to help Shanghai protect “Shanghai” against the epidemic. On April 7, Shanghai Municipal Commission of Commerce issued the notice on matters related to releasing the guarantee and supply capacity of e-commerce platform, focusing on the epidemic prevention requirements of e-commerce platform personnel and accelerating the resumption of operation of large warehouse and front warehouse of guarantee and supply e-commerce platform. Relevant measures have boosted the value confidence of the four e-commerce platforms, focusing on the recovery of the operational capacity of [Alibaba (3000 additional front-line supply guarantee personnel), meituan (meituan online community order collection service for buying vegetables), JD (JD online logistics special vehicle for delivering medicine and fresh food), pinduoduo (pinduoduo online “48 hour supply guarantee package”)] in Shanghai.
Key tips: 1) relatively high boom track, China stock market news, etc; Short video, [Kwai, byte]; Medium video [beep beep beep]; Technology [Xiaomi, baidu]; Long video [iqiyi, mango], etc; Online recruitment [boss direct employment], marginal improvement of real estate [shell], etc.
2) in the game sector, focus on the combination of meta universe in the medium term, and focus on the progress of version number recovery in the short term. Focus on the head [Tencent, Netease], China [Panax notoginseng, perfection, G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Zhejiang Century Huatong Group Co.Ltd(002602) , giant, Fuchun, yao ji, Baotong, Caesar, Huali, Xinghui, Kunlun, Hangzhou Electronic Soul Network Technology Co.Ltd(603258) ], Hong Kong stock [heart, celadon, middle hand tour, IgG, ZuLong, chizicheng], VR technology [Silk Road, Hengxin, Jiachuang], etc.
3) in the film sector, the box office rebounded and paid attention to the impact of the epidemic. Focus on animation film leader [light], cinema and content composite leader [Wanda], Internet platform [cat’s eye], entertainment broker [Lehua entertainment], etc.
4) generation Z and community, maintaining high growth and high stickiness. Pay attention to [Bili], tide play [bubble mart, Chuang Meng, aofei], etc; Online reading and IP operation [reading text], online Q & a community [Zhihu (listing hearing through HKEx)], online music [Netease cloud], etc.
5) Kwai tiktok and the industrial chain, focus on the platform of the electronic commerce [Jingdong (Liu Qiangdong, CEO, Jingdong Group CEO Xu Leisheng), many spells, Ali] and live platform [shaking, fast], industry chain [ Saturday Co.Ltd(002291) , Yao Ji, gravity], marketing technology, etc., bytes benefit [ Three’S Company Media Group Co.Ltd(605168) , Zhewen Interactive Group Co.Ltd(600986) ]; Community retail [meituan, daily Youxian, dingdong], etc; Wechat ecological e-commerce SaaS [youzan, Weimeng].
Risk warning: epidemic impact, economic and political environment risk, regulatory uncertainty, goodwill impairment risk
