Market Review
This week (2022.01.10-2022.01.14), the Shanghai stock index fell 1.63%, the Shanghai and Shenzhen 300 index fell 1.98%, and the gem index rose 0.73%. The SW media index fell 2.70%, underperforming the gem index by 3.43pct, ranking 20th among the 28 industries in Shenwan level. Among the sub industries, film and television, marketing and Games ranked the top three, respectively 1.10%, – 1.29% and – 3.20%.
Media industry data
As of January 14, 2022, the top three cinema films are embracing you through the cold winter, anti-corruption storm 5: the final chapter and Li Mao playing the prince; The top three webcast films are Changjin lake, strange talk of yin and Yang Town and railway hero; The top three film and television series are “ace army”, “fierce knife in the snow” and “sleeping garden”; The top three variety shows are exciting offer Season 3, annual Comedy Competition and time concert; The top three best sellers of IOS games are “glory of the king”, “peace elite” and “annals of the Three Kingdoms · strategic edition”; The top three hot Android games are glory of the king, original God and sausage party.
Core view
This week, the State Council issued the “14th five year plan” for the development of digital economy, proposing that by 2025, the digital economy will move towards a period of comprehensive expansion, the added value of core industries of digital economy will account for 10% of GDP, increase support for 6G technology R & D, strengthen the construction of smart radio and television infrastructure, promote the healthy development of platform economy, and optimize the operation of intelligent products and services; The press conference of the fifth session of the 15th Beijing Municipal People’s Congress was held. Beijing will promote the formation of a new innovation consortium of yuancosmos and explore the construction of yuancosmos industrial cluster. Wuhan, Hefei and Xuhui District of Shanghai have written yuancosmos into this year’s government work report. Previously, Zhejiang, tin free and other provinces and cities have also defined the development direction of yuancosmos in relevant industrial planning. We believe that the logic of the meta universe track has been strengthened, and we recommend investors to pay attention to the targets related to the sub formats of the meta universe, such as 5g, radio and television, ultra-high definition video, VR, digital virtual human and so on.
Investment advice
We continue to pay attention to the game sector and recommend head game R & D manufacturers with low valuation, Perfect World Co.Ltd(002624) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ; In terms of the new media sector, we strongly recommend the state-owned new media platform operation company Mango Excellent Media Co.Ltd(300413) , which is backed by Hunan Taiwan high-quality content production platform, has high performance growth and continues to benefit from the dividends of media integration reform; In the film sector, it is suggested to pay attention to the investment opportunities promoted by the introduction of the “14th five year plan” of the film, and the digital cinema and new media copyright business of Beijing Jetsen Technology Co.Ltd(300182) will benefit directly; In other sectors, it is recommended that Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) the leading digital cultural and creative exhibition company benefiting from the “cultural infrastructure” and Beijing Fengshangshiji Culture Media Co.Ltd(300860) the large-scale cultural and tourism performance program producer committed to creating the output carrier of “cultural confidence”.
Risk tips
Regulatory policy uncertainty risk; Macroeconomic downside risk.
