Portfolio: 1, Mango Excellent Media Co.Ltd(300413) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Visual China Group Co.Ltd(000681) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Ireader Technology Co.Ltd(603533) , Focus Media Information Technology Co.Ltd(002027) , Alpha Group(002292) , Zhejiang Huace Film And Tv Co.Ltd(300133) . Two, benefit groups, fast hands, Tencent, Kwai Chuang, Chuang Meng world. 3、 Shanghai Yaoji Technology Co.Ltd(002605) , Beijing Enlight Media Co.Ltd(300251) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Zhejiang Daily Digital Culture Group Co.Ltd(600633) , Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) , Perfect World Co.Ltd(002624) .
Investment theme: Digital man, Winter Olympics, arvr, game metauniverse, exhibition, long and short video platform.
Beneficiaries: overseas companies include Netease, reading group, BiliBili, bubble mart, ZuLong entertainment, China Mobile Games, Baiao family interaction, chizicheng technology, etc. Bluefocus Intelligent Communications Group Co.Ltd(300058) , Beijing Jetsen Technology Co.Ltd(300182) , Zhewen Interactive Group Co.Ltd(600986) , Hylink Digital Solution Co.Ltd(603825) , Kingnet Network Co.Ltd(002517) , Hangzhou Electronic Soul Network Technology Co.Ltd(603258) , Silkroad Visual Technology Co.Ltd(300556) , Guangzhou Wahlap Technology Corporation Limited(301011) , Cubic Digital Technology Co.Ltd(300344) etc.
Investment suggestion: the supervision and guidance of the Internet is being implemented in an orderly manner. Based on 2022, we can strengthen the configuration of media interconnection
Antitrust and data security are important variables in the development of the Internet. We believe that this round of supervision has been basically implemented in an orderly manner, and the industry has developed in an orderly and standardized manner under Antitrust and data security. Looking forward to 2022, we should gradually strengthen the allocation of media Internet and grasp the era of meta universe. From the listing of roblox, the first stock of metauniverse, to the renaming of Facebook to meta, Microsoft released the enterprise metauniverse, NVIDIA continued to invest in metauniverse in technology, and then put forward the Quanzhen Internet from China Tencent, byte beating layout, VR track acquisition of Pico, Netease and Baidu released the metauniverse platform, and the establishment of yuanyuzhou Association. All walks of life continue to discuss and understand metauniverse. Metauniverse may be understood as the next generation Internet, which will generate different connections and experiences between people and things in time and space based on different terminals. The ultimate form will depend on the development of technology. At present, we believe that there are several directions we can grasp around the meta universe. First, new hardware terminals, consumer arvr devices, can be compared with the situation of mobile phones; Second, the new operating system or operating platform built on arvr devices, represented by Microsoft, Google, apple, wechat and other platform companies; Third, in addition to the transferred entertainment and enterprise industrial applications, or new applications with a volume of 100 million will be generated, and the business model will be extended by changing the new interaction mode of connection and experience. Although the current industrial development is at an early stage, it is developing rapidly. Early investment should grasp the digital entertainment content that has the most performance support and is most likely to be transferred to the meta universe, such as digital games, virtual people and idols, exhibitions, etc.
Microsoft plans to acquire Activision Blizzard for us $68.7 billion to further layout yuanuniverse through its game business
On January 18, Microsoft announced that it would spend US $68.7 billion in all cash to acquire Activision Blizzard, the publisher of “world of Warcraft” and “call of duty”, becoming the world’s third-largest game giant with game revenue second only to Tencent and Sony, which has also become the largest acquisition in game history. Microsoft said that after the merger, it will carry out business around metauniverse, community and games. In terms of games, the blessing of the King team and Activision Blizzard IP combination will help Microsoft in enhancing the strength of mobile games and enriching the cloud game matrix. In recent years, Microsoft continues to expand the layout of the game field. Game technology may accelerate the process of metauniverse. Cloud computing, artificial intelligence, machine learning and other technical applications involved in the construction of virtual image in the game are the core technologies of metauniverse. With the rapid development of games, the application of technology is becoming more and more mature, strengthen the penetration in social, office and other scenes, or further promote the development of metauniverse. We believe that the investment of metauniverse should focus on the game track.
Mango has 50.4 million members by the end of 2021, and Yaoji investment card trading and issuing platform cardhobby
On January 21, mango announced that the net profit attributable to the parent company in 2021 is expected to be 2.04-2.14 billion yuan, an increase of 2.92% – 7.96% at the same time, the growth rate of advertising and operator revenue of the company exceeds 30%, the number of effective members at the end of the year is 50.4 million, an increase of 40% at the same time, and the daily peak value of Xiaomang platform in the strategic cultivation period is 1.26 million. The company’s business is in the period of transformation and integration, with large influencing factors in a single quarter. It is optimistic about the development of the company in 2022. On January 20, Yaoji investment card trading and issuing platform cardhobby formed a strategic synergy with the company’s card business. Cardhobby has Daka culture, a sports culture collection card issuer, and card Amoy, a second-hand collection card trading platform in China. Star cards and other cards have a broad market space, Shanghai Yaoji Technology Co.Ltd(002605) takes the lead in layout, which is expected to drive performance growth.
Risk tips: repeated epidemics, less than expected technological development, goodwill risk, changes in regulatory policies, etc.
