One week performance review
Last week, the CSI 300 index rose 1.11%, and the Shenwan media index fell 3.30%, 4.41 percentage points lower than the CSI 300 index. Among the sub sectors, the television and radio sector performed better, up 4.12%. In terms of individual stocks, Beijing United Information Technology Co.Ltd(603613) (+ 9.94%), Songcheng Performance Development Co.Ltd(300144) (+ 7.67%) and China Film Co.Ltd(600977) (+ 1.92%) increased significantly last week; Last week, Mango Excellent Media Co.Ltd(300413) (- 12.68%) and Kunlun Tech Co.Ltd(300418) (- 11.21%) fell significantly.
Industry dynamic data
Ranking of mobile games: the related games of listed companies that entered the top 50 of IOS bestseller list this week include: Yinian Xiaoyao ( G-Bits Network Technology(Xiamen)Co.Ltd(603444) ), asking questions ( G-Bits Network Technology(Xiamen)Co.Ltd(603444) ), Douluo continent: duel of soul Masters ( Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ), magic tower ( Perfect World Co.Ltd(002624) ), song of cloud going to the city ( Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ), killing Immortals ( Perfect World Co.Ltd(002624) ), calling me the big shopkeeper ( Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ) Perfect World Co.Ltd(002624) ( Perfect World Co.Ltd(002624) ) and dream new killing immortal ( Perfect World Co.Ltd(002624) ).
New test mobile games: about 20 new test games will be opened next week, and there are no games belonging to A-share listed companies.
Investment advice
Internet: last week, the national development and Reform Commission and other nine departments jointly issued several opinions on promoting the healthy and sustainable development of platform economy norms. In answering reporters’ questions after the introduction of the opinions, they pointed out that we should focus on: 1. Pay equal attention to development and norms; 2. Strengthening and improving supervision; 3. Promote the platform economy to serve high-quality development and high-quality life, and guide the platform economy to develop in the direction of openness, innovation and empowerment. In terms of opening-up, the focus is to guide and reduce the operating costs of platform economic participants, promote the construction of an orderly and open platform ecology, and promote equality, mutual benefit and win-win cooperation among all parties involved in platform economy. In terms of innovation, the focus is to guide platform enterprises to increase investment in “hard technology” innovation, further improve international competitiveness, and focus on giving full play to the value of data elements and serving small, medium-sized and micro enterprises in model innovation. In terms of enabling, the focus is to guide platform enterprises to create greater value in enabling the transformation and upgrading of manufacturing industry, promoting agricultural digital transformation, and promoting the expansion of domestic demand. The opinions defines the regulatory tone of the platform economy in the future. Industry regulation is expected to enter the stage of normalized regulation, and the impact of policies on the valuation of the Internet sector may be gradually reduced.
Game: on the 18th, Microsoft announced that it would acquire Activision Blizzard at a premium of $95 per share and 45% of the previous closing price, with a total amount of $68.7 billion. Microsoft’s high premium acquisition of Activision Blizzard fully reflects the importance and scarcity of high-quality game content providers, and its acquisition of PE is higher than the average of A-share game sector. There is room for the valuation of high-quality game content companies to rise. In addition, Microsoft also said in the acquisition announcement: “this acquisition will accelerate the growth of Microsoft’s game business and provide the cornerstone for building the meta universe”. As one of the core application scenarios for the implementation of the meta universe in the future, the game is expected to accelerate its development under the promotion of Internet giants.
Risk tips
Further tightening of supervision, decline of industry growth rate, intensification of industry competition and goodwill impairment risk
