Inmyshow Digital Technology (Group) Co.Ltd(600556)
Performance summary: the company issued the annual report of 2021. In 2021, Inmyshow Digital Technology (Group) Co.Ltd(600556) achieved an operating revenue of RMB 4.51 billion, with a year-on-year increase of 47.4%; The net profit attributable to the shareholders of the listed company was 350 million yuan, a year-on-year increase of 19.9%.
1. The annual report maintains high growth, and the growth momentum of Hongren new economy is strong
Inmyshow Digital Technology (Group) Co.Ltd(600556) for five consecutive years, it has achieved high growth in revenue and profit, and the compound annual growth rate of revenue and deducting non net profit in recent five years has reached 57.7% and 43.2%.
2. New media business: the merchant side is highly viscous and the flow decentralization trend is clear
Weiq merchant side: the quality and stickiness of merchants are constantly improving. In 2021, the number of registered business customers reached 179412, an increase of 12683 over the previous year; The number of active business customers of weiq platform is 7918, a slight decrease from 8342 in 2020, including 799 brand customers. Among the active business customers, the retention rate of brand customers reached 79.6%, higher than 78.0% in 2020.
Weiq’s popular end: the supply of popular people is growing strongly, the trend of professionalization is significant, and the income of popular people at the waist and tail accounts for 81.4%. The weiq platform has efficiently connected more than 1.92 million celebrities (content entrepreneurs), with high growth on the celebrity side, and the growth rate of order volume is much higher than that of revenue. In 2021, the number of professional celebrity accounts that are full-time or part-time engaged in celebrity work, can respond quickly and have the ability to receive orders successfully reached 535000, a significant increase compared with 291000 at the end of 2020.
Heat wave data: at present, it has achieved an average daily data processing capacity of 100 million +, a data response speed of 0.001 seconds, a total of 1.1 billion popular materials, and 20 million intelligent fan portrait data.
Weiq-saas: we are committed to enabling our agents and customers to reduce costs and increase efficiency in our media purchase services. By 2021, it has served more than 70 customers.
Crow Rui: in 2021, crow Rui released 700 + lists, with a cumulative exposure of 300 million people; Produce 50 + industry reports and read them for 4 million times.
International Hongren accelerator: there are more than 9 Hongren brands deeply enabled, and the number of MCN institutions directionally enabled by international Hongren accelerator exceeds 650, an increase of 250 compared with 2020.
3. Hongren ecological chain innovation business is committed to the “super connector” in the decentralized entrepreneur economic ecology
Based on web2 The “Red Man economic ecosystem” in the era of 0: the red man vocational education brand ” Inmyshow Digital Technology (Group) Co.Ltd(600556) education” has reached 213 colleges and universities across the country, signed 40 cooperation agreements, and self-developed 15 professional course supporting teaching materials, benefiting 21000 students in total; The new consumer brand home cat diary has sold more than ten million yuan every three months after it was listed, and the cumulative sales in 2021 exceeded 100 million; The West Fifth Street of the trendy content block has 580000 trial products in total.
Based on blockchain technology and oriented to Web3 Innovative products and business models in the 0 era: represented by the 3D virtual life community “Rainbow universe” and the self media digital collection tool set “topholder number one collector”.
Investment suggestion: the company’s income continues to increase, and the continuous investment opens a new boundary for growth. Due to the increase of investment, the parent company’s profit in 2022 and 2023 will be reduced to 510 million and 650 million yuan (previous value: 20222023, 780 / 11.1 million yuan), and the parent company’s profit in 2024 will be increased by 810 million yuan, which will continue to be recommended.
Risk warning: macroeconomic impact; Changes in regulatory requirements under new modes and new business conditions; Market competition risk, etc
