Market Overview: affected by market factors, CITIC’s primary media sector fell 6.46% this week. This week, the release of game edition numbers was resumed, which improved the market’s policy confidence in the media sector to a certain extent. After years of intensive policy influence, the A-share media sector has obvious valuation advantages. The Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) trend such as yuancosmos is expected to bring marginal business increment. Individual stocks with good fundamentals for a long time have reached a better price position from the perspective of medium-term allocation. In the Hong Kong stock market, from the medium-term perspective, some Hong Kong stocks and zhonggai Internet targets are at historically low valuations. It is suggested to pay more attention from the perspective of fundamentals.
Plate views and recommended targets: 1) game: the release of version number has been resumed. At present, the leading company has been pe12-18x for 22 years. It is suggested to pay attention to the landing of the company’s reserved game version number. Game companies with strong R & D strength + ability to go to sea will be more deterministic. At the same time, some second tier stocks are expected to usher in a make-up market, focusing on the pico main line. Key targets [ Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Perfect World Co.Ltd(002624) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Xinxin company, etc.]; 2) Video: focus on the realization of high-quality content and the change of industry pattern, focusing on [ Mango Excellent Media Co.Ltd(300413) ]; 3) Yuancosmos: the sector has been active again recently. At present, the valuation has been adjusted back to the low level, focusing on the industrial landing and enterprise financial report fulfillment in the directions of NFT (Q1 yuan visual transaction volume and unit price have increased rapidly) / VraR (Pico 22 sales target of 1.8 million units) / virtual human, and the key targets are [ Visual China Group Co.Ltd(000681) , Hylink Digital Solution Co.Ltd(603825) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Bluefocus Intelligent Communications Group Co.Ltd(300058) ]. 4) Hong Kong stocks: recommend the Kwai TSU to enhance the efficiency and promote the platform business with narrowed losses.
Game: 45 game version numbers were released in April, and “party star” was reviewed.
The Publishing Office released the game version number in April of the 22nd year, with a total of 45 versions, of which Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) [dream sailing], G-Bits Network Technology(Xiamen)Co.Ltd(603444) thunder game [tower hunter], [box fission], chuangmengtiandi [beware of fire and candle], heart network [Party star], Yoozoo Interactive Co.Ltd(002174) [chronicles of the Three Kingdoms: Pocket battle] and many other games have been reviewed. It is expected that after the restart of the version number, it will focus more on the refinement of content. In 2021, the detailed rules for game review and scoring were implemented, requiring game products to be high-quality, innovative and healthy in terms of playing method, picture, plot and technology. 45 version numbers were distributed this time, while 104 version numbers were distributed from January 20 to July 21. The supply of version numbers was relatively tightened, reflecting the increasing audit requirements of regulators for game quality.
Yuancosmos: the activity of VR social platform is improved, and NFT supervision prevents financial risks.
1. Recently, VR social platform has steadily promoted the commercialization process, and its activity has been significantly improved. 1) Meta said on Monday that it will start testing the commercialization tool for selling digital assets in horizon worlds. Initially, the tool will be provided to specific users of the immersive platform. The commercialization tool is a key part of its meta space plan; 2) According to an interview with Shawn whiting, the head of recroom’s partner, the total number of monthly live users of VR reached a peak of 3 million during the 22-year Christmas holiday, three times that of the same period last year. The rapid growth of users may be related to the promotion of quest sales during the holiday. Vrchat, also a VR social platform, has added facial tracking and other functions to the virtual avatar of the platform in 22 years, focusing on the commercialization process. Generally speaking, the popularity of VR social platform is on the rise.
2. China Internet Finance Association, Bank Of China Limited(601988) Industry Association and China Securities Association issued the proposal on preventing financial risks related to NFT, affirmed the innovative application of NFT, put forward preventive suggestions on potential safety hazards such as NFT speculation, money laundering and illegal financial activities, and stressed that we should resolutely curb the tendency of NFT financialization and securitization. At present, the commodity attribute of China’s digital collection is far greater than the financial attribute. It is expected that the liberalization of secondary transactions will still take time, and the regulatory compliance requirements for the digital collection platform will continue to be strict in the process. However, in the long run, the head platform with relatively mature digital collection operation is expected to continue to develop in a standardized manner.
Risk tips: policy supervision risk, increased competition risk, and the impact of the epidemic exceeds the expected risk.
