Core view
Meta universe comprehensive dynamics: (1) People.Cn Co.Ltd(603000) : some behaviors such as rubbing NFT, meta universe hot spots and speculation concepts are arousing the vigilance of regulatory authorities. (2) Ni Jianzhong, executive president of China Mobile Communications Federation, said that it would build the world’s first “meta universe city” in Hangzhou. (3) China Telecom Corporation Limited(601728) fully layout the meta universe and New Guomai Digital Culture Co.Ltd(600640) release the “Pangu plan” in 2022.
Content and platform: (1) CCTV launched AI sign language virtual anchor, which will officially start working all year round at the Winter Olympics; (2) Epicgames acquires VR audio game studio Harmonix; (3) Adidas will enter the meta universe and announce its cooperation with sandbox and coinbase; (4) Ali established “Mr. Yuanjing” to further layout the business of yuanuniverse; (5) Tencent music launched the virtual music world product tmeland; (6) Baidu yuan universe platform “Xi soil” officially opened to the outside world; Bluefocus Intelligent Communications Group Co.Ltd(300058) reached strategic cooperation with Baidu xirang to jointly promote the development of yuanuniverse industry.
Hardware side: (1) in the next few years, leading brands in the industry have successively launched new VR products, which is expected to promote the rapid growth of VR hardware sales dominated by entertainment (oculus, Sony, etc.), and lead the continuous upgrading of hardware, continuous enrichment of content and continuous optimization of user experience; (2) The participation of Chinese and foreign technology enterprises opens up more room for growth. On the one hand, North American technology giants are about to enter the market, and the innovation in product form and application fields is expected to promote the development of the industry in a more diversified direction. On the other hand, China’s industrial cooperation represented by byte headline’s acquisition of VR hardware brand Pico is expected to create China’s VR industrial ecology, Open up China’s market with broad potential; (3) The global VR / AR ecosystem has been gradually improved, with the organic combination of social, office, media, entertainment and other attributes. The application scenarios have expanded TOC, tob and other fields. The application content has gradually realized cross platform and cross hardware interconnection, so that VR / AR products have gradually become an important part of daily work and life, and the market space is huge.
Infrastructure construction side: (1) yuan universe Industry Committee announced the list of the first 65 members; (2) The pilot version of digital RMB app was put on the shelves, and Tencent, meituan, Xiaomi and JD were connected to the digital currency ecology; (3) Digital RMB launched a new scenario of digital city application: Bank Of Communications Co.Ltd(601328) Shanghai Branch, together with Shanghai Pudong New Area employment promotion center and relevant streets, successfully issued digital RMB employment subsidies to help the people; Xiangcheng District of Suzhou also provides the option of digital RMB in the scene of paying legal fees.
Investment proposal and investment object
On the platform side, Tencent Tianmei and QQ cooperated to continuously promote the Zplan project, develop the virtual anchor of station B and mango, and launch the mango digital collection. It is recommended to pay attention to Tencent holdings, BiliBili, Mango Excellent Media Co.Ltd(300413) .
On the content side, the advantages of the game track in interactivity and immersion make us optimistic about the first entry of the game company under the meta universe framework. It is suggested to pay attention to Netease, Perfect World Co.Ltd(002624) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) .
On the hardware side, it is recommended to pay attention to the integration of Optics and the whole machine: Goertek Inc(002241) ; Manufacturers of optical and display components: Will Semiconductor Co.Ltd.Shanghai(603501) , Zhejiang Crystal-Optech Co.Ltd(002273) , Shunyu optical technology, Lianchuang Electronic Technology Co.Ltd(002036) , Wuhu Token Sciences Co.Ltd(300088) ; Other component manufacturers: Shenzhen Everwin Precision Technology Co.Ltd(300115) (structural parts), Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) (OCA optical adhesive), etc.
For the infrastructure construction end, it is recommended to pay attention to the communication operator China Telecom Corporation Limited(601728) and China Mobile that have deployed the meta universe; Vertical NFT trading platform Visual China Group Co.Ltd(000681) ; Strategic cooperative manufacturers Lakala Payment Co.Ltd(300773) , Zhejiang Zhengyuan Zhihui Technology Co.Ltd(300645) with the digital RMB Institute of the people’s Bank of China.
Risk tips
Policy supervision risk; Uncertainty risk of industrial structure; Application expansion is less than expected; Valuation risk.
