red weekly: with the Col Digital Publishing Group Co.Ltd(300364) performance forecast disclosed this week, the company expects to make a profit of 90-110 million yuan in 2021, an increase of 84% - 125% over the same period last year. What do you think?
Qiu Zheng: Col Digital Publishing Group Co.Ltd(300364) the performance change is mainly due to the growth of the company's "literature +" business income, which has nothing to do with yuanuniverse. Although many listed companies have carried out the layout of metauniverse, and the stock price has risen sharply, in fact, the concept of metauniverse is still in its early stage. Many related technologies such as AI technology, blockchain technology, interactive technology such as AR / VR and powerful computing system are still immature. Is the application terminal involved in metauniverse popular, There is great uncertainty whether the connection between virtual and reality can be really established and whether there is a real landing scene. Therefore, after a large amount of speculation, these listed companies with no substantive content will face the adjustment of stock price.
red weekly: is there a listed company that has benefited from metauniverse?
Qiu Zheng: of course. In 2021, emerging concepts such as meta universe have attracted more and more attention in the whole industry. The shipment of relevant vr virtual reality products has increased rapidly. The hardware technology and software content related to vr virtual reality and ar Augmented reality have been continuously enriched, and the related Goertek Inc(002241) performance has increased greatly. After the net profit of the company increased from 1.279 billion yuan of the previous year to 2.852 billion yuan in 2020, the net profit of Goertek Inc(002241) will reach about 4.244 billion yuan to 4.528 billion yuan in 2021. According to the forecast data of IDC, the global shipment of vr virtual reality products is expected to reach an average annual growth rate of about 41.4% and that of ar Augmented reality products is expected to reach an average annual growth rate of about 138% from 2021 to 2025. The rapid growth of vr virtual reality and ar Augmented reality products is expected to bring significant business opportunities to relevant enterprises in the technology and consumer electronics industry chain.
In 2020, the R & D investment in Goertek Inc(002241) exceeded 3.5 billion yuan. In the first three quarters of 2021, the R & D expenditure of the company again exceeded the level of the same period of the previous year. The continuous increase of the R & D investment of the company is conducive to improving the technical competitiveness of the company and promoting the further competitiveness of the company's product solutions in the global market.
"red weekly": due to the sharp year-on-year rise in coal prices, Shenyang Jinshan Energy Co.Ltd(600396) power generation and heating business costs are upside down. The company expects a net profit loss of 1.8 billion yuan to 2.038 billion yuan in 2021. Should relevant listed companies also be vigilant?
Qiu Zheng: in fact, even when the coal price is low, the heating and heating business is difficult to achieve profitability. For example, in 2019, when the coal price is low, the gross profit margin of Shenyang Jinshan Energy Co.Ltd(600396) thermal sales business is - 19.10%, while the gross profit margin of Jilin Electric Power Co.Ltd(000875) , Huadian Power International Corporation Limited(600027) , Datang International Power Generation Co.Ltd(601991) , Gd Power Development Co.Ltd(600795) thermal products in the same period are - 28.76%, - 8.44%, - 42.04%, - 11.05% respectively, They are in a state of loss, but when the coal price is low, the profit of power products can make up for the loss of thermal products.
In 2021, the price of thermal coal rose sharply, and the market price of thermal coal soared from more than 500 yuan to about 1700 yuan. At present, although it fell sharply at a high point, it is still more than 850 yuan, far higher than the average level in previous years. Only Shenyang Jinshan Energy Co.Ltd(600396) is affected by coal prices, and there is a possibility of sharp decline in net profit of all thermal power listed companies.
(source: securities market red weekly)
