Main points:
Market review this week (202204.25202205.01)
This week, the Shanghai stock index fell 1.29%, the Shanghai and Shenzhen 300 rose 0.07%, the Hang Seng Index and the Hang Seng technology index rose 2.18% and 11.76%, the NASDAQ index and the Dow Jones index fell 3.93% and 2.47%. This week, the media and e-commerce indexes continued their downward trend, and the Internet and education indexes recovered. Among the key stocks of Internet media, pinduoduo (+ 28.59%), Mango Excellent Media Co.Ltd(300413) (+ 24.52%) and JD group SW (+ 24.40%) led the gains this week.
Kwai e-commerce released the fast brand support plan, and Weibo fully opened the IP territorial function
Kwai e-commerce released the “fast brand support plan”, which will help the fast brand from five aspects: traffic bonus, cold start welfare, product privilege, marketing activities and exclusive services. In terms of traffic, it will provide more than 23 billion traffic to help fast brand growth. In 2022, Kwai e-commerce plans to support 500 fast brands.
The official microblog of sina Weibo community management released an announcement on the upgrading of IP territorial function, saying that the station will display the user’s “IP territorial” function online in March this year, and will carry out product upgrading and new function online on the basis of the previous, and fully open comments to show the small tail function of IP territorial function; Launch the function of “displaying IP territory on the primary page of personal home page”.
Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) first quarter performance increased year on year, and bubble mart’s first quarter performance improved
Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) 22q1 achieved a revenue of 4.089 billion yuan, a year-on-year increase of + 7.11%; The net profit attributable to the parent company was 760 million yuan, a year-on-year increase of + 550.80%; Deduct the net profit not attributable to the parent company of 762 million yuan, a year-on-year increase of + 1977429%.
The revenue of e-commerce and other channels + q14 + 75% – 30% year-on-year, of which the revenue of e-commerce and other channels + Q15 + 70% – 30%, with a year-on-year revenue of year-on-year revenue of e-commerce + Q15% and other channels + 70% – 30%.
Investment advice
Before the festival, the 2021 annual report and the first quarterly report of 2022 of the media sector have been disclosed. Due to the impact of macroeconomic, epidemic and regulatory environment, the performance of the sector is under pressure as a whole. The short-term epidemic still disturbs the advertising, film and television and other sectors, and pay attention to the subsequent business marginal improvement opportunities of key companies.
On April 29, the meeting of the Political Bureau of the CPC Central Committee proposed to promote the healthy development of the platform economy, complete the special rectification of the platform economy, implement normalized supervision, and introduce specific measures to support the standardized and healthy development of the platform economy. Since the meeting of the Political Bureau of China first proposed to strengthen anti-monopoly and prevent disorderly capital expansion in December 2020, the relevant central meeting has proposed to introduce platform economic development measures for the first time. We believe that the signal of policy inflection point is clear, the industry will return to the development channel after the regulatory cycle has entered the normalization cycle, and the sector will usher in a comprehensive recovery. The current valuation of high-quality Internet targets has outstanding cost performance. It is recommended to pay attention to meituan-w, JD group, Kwai-w, Tencent holdings, etc.
Risk tips
Intensifying geopolitical conflicts; Drastic changes in industry competition pattern; Long term suspension of edition number, etc
