This week’s view
Internet platform: the number of workers in the Internet industry has been stable in the past half a year, and the company’s basic sector and core profitable business are still the main driving force. According to the Internet Information Office, the number of employed workers in the Internet industry has been stable for nearly half a year. Although most Internet companies still have layoffs, we believe that the current policy crackdown will not have a great impact on the dominant core business of the Internet company itself, and the company’s basic market and core profit business are still the main driving force, The personnel investment in this kind of business will remain stable, which may have a great impact on the edge business or newly expanded business.
Video sector: online video has entered the price increase cycle, and the head platform is expected to improve its performance relying on high-quality content. Tencent video will adjust the prices of Tencent video VIP and super film and television VIP on April 20. Among them, the prices of five kinds of members such as Tencent video VIP monthly card and multiple package prices of super film and television VIP will remain unchanged, and the remaining seven kinds will increase by 5 to 20 yuan. In addition to Tencent video, iqiyi, mango TV and other platforms also announced price increases from the beginning of 21 to the beginning of 22. We believe that with the increasing cost of purchasing copyrighted content and the investment in making high-quality products, online video has entered the price increase cycle, and the head platform is expected to improve its performance relying on high-quality content.
E-commerce sector: e-commerce platforms actively assume social responsibility and participate in the supply guarantee of the epidemic. The shortage of transportation capacity is expected to ease this week. At the press conference on epidemic prevention and control in Shanghai on April 9, it was proposed that in terms of living material support, the source of goods should be locked and transported at any time. The node outlets should be opened as much as possible to ensure that the supply personnel can go out as much as possible, and the special groups should provide all the support, and finally deliver the goods to the home within 100 meters. During the epidemic period, the shortage of transportation capacity may be alleviated one after another. Ali, meituan, Jingdong and pinduoduo have all deployed additional personnel and equipment to ensure supply.
Investment advice
It is suggested to lay out high-quality Internet assets in the long term. 1) Compared with zhonggai shares, the attractiveness of Hong Kong stock Internet to investors is expected to increase, and the Hong Kong stock market may become an important scene for long-term Internet configuration. From the perspective of employees and organizational structure, Internet companies will focus more on their main business and pay attention to fine and high-quality development in the future. Game section: the game going to sea is the future trend. Pay attention to the release dynamics of the game company’s version number. 2) Individual stocks: pay attention to the warming of the Internet mood of China concept Internet and Hong Kong stocks, focus on the long-term growth trend of high-quality Hong Kong stock Internet companies, and pay attention to Tencent and meituan. Launch Netease, the global IP mobile game Harry Potter, and Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , with the P & S mode going through and subsequent SLG product iterations accelerating the performance of going to sea; Target of absolute return of a shares: it is recommended to focus on Mango Excellent Media Co.Ltd(300413) , which has the advantage of long video content, layout mango metauniverse and new track of content e-commerce + offline entertainment scene.
Industry highlights
Liu qiangdong resigned as CEO of Jingdong group. On April 7, Jingdong group announced that Liu qiangdong would no longer serve as CEO of Jingdong group and that Xu Lei, President of Jingdong group, would be promoted. Liu qiangdong will continue to serve as the chairman of Jingdong’s board of directors.
The central network information office took the lead in carrying out the special action of “Qinglang ″ comprehensive treatment of algorithms in 2022”, deeply investigated and rectified the algorithm security problems of Internet enterprise platforms, and evaluated the algorithm security capability.
Risk tips
Macroeconomic risk is lower than expected, policy risk, and meta universe technology iteration and application risk is lower than expected.
