Core point: keep recommending the two directions of game and epidemic repair. 1) game: the number of titles is restored, the policy is warmeback, and in the future, with new products coming online, the performance is expected to be fixed in the future, and with new products coming online in the future, the performance is expected to be fixed. At present, the valuation of the sector is cost-effective, the medium and long term look out to the sea is expected to provide new growth momentum. Looking at the sea in the medium and long term, it’s expected to provide new growth momentum, and looking at the new growth drivers. The key recommendation is the Hongda Xingye Co.Ltd(002002) Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) 5555 Zhejiang Century Huatong Group Co.Ltd(002602) Giant Network Group Co.Ltd(002558) etc; Hong Kong stock heartbeat company, dream world, middle hand tour, etc. 2) With the improvement of the national epidemic situation and the expected improvement of resumption of work and production, marketing and offline entertainment are expected to recover gradually. At present, the valuations of relevant companies are at the bottom. It is suggested to pay attention to the marketing companies: zhaoxun media, offline entertainment, dreamworld and other targets. In addition, video leader Mango Excellent Media Co.Ltd(300413) “sound keeps alive”, “yearning for life” and other key variety shows have been put on file, and “sister 3 riding the wind and waves” is also being recorded. It is suggested to pay attention to the inflection point of the company’s performance in the second quarter after the launch of heavy variety shows.
Film and television sector. This week (2022.4.18-4.22), the CSI film, television and animation index fell 2.95%. The top three gainers this week: Hunan Huakai Cultural And Creative Co.Ltd(300592) (11.13%), Zhewen Pictures Group Co.Ltd(601599) (+ 9.01%), China Television Media Ltd(600088) (+ 0.22%); Top three declines this week: Jinzhou Jixiang Molybdenum Co.Ltd(603399) (- 17.49%), Beijing Enlight Media Co.Ltd(300251) (- 11.50%), Guangzhou Jinyi Media Corporation(002905) (- 10.52%).
Key recommendations for individual stocks: H&R Century Union Corporation(000892) , Zhejiang Huace Film And Tv Co.Ltd(300133) , Beijing Enlight Media Co.Ltd(300251) .
Game section. The wind online game index fell 6.22% this week, and Dasheng Times Cultural Investment Co.Ltd(600892) rose 23.34% among game stocks. Gamma data released the 20212022 mobile game IP market development report. The report shows that the revenue of China’s IP adapted mobile game market is 129.77 billion yuan, but eight of the top 10 products are products with more than two years, and Tencent accounts for half of the top 10, but there are no new 2021 products.
Weekly trend of Haitong portfolio. Haitong media’s weekly portfolio fell 4.48% in April, Shenwan media index fell 5.36%, and Shanghai and Shenzhen 300 fell 4.19%.
Haitong media group in April. Tencent Holdings (10%), Mango Excellent Media Co.Ltd(300413) (10%), Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) (20%), G-Bits Network Technology(Xiamen)Co.Ltd(603444) (15%), Perfect World Co.Ltd(002624) (15%), Shanghai Yaoji Technology Co.Ltd(002605) (10%), Visual China Group Co.Ltd(000681) (10%), Three’S Company Media Group Co.Ltd(605168) (10%).
Risk tips: changes in policy supervision, repeated public health events, delays in the launch of new games, and fierce competition in the industry.
