Perry Brokers China

　　"Oh baby, invest more cautiously, look at the indicators more, and be more rational, so that you can resist risks~"

　　Recently, with the launch of Mango TV's "Sister Riding the Wind and Waves 3", Wang Xinling once again became popular on the Internet with the song "Love You".

Many fans began to buy Mango Supermedia stocks to support, and many Christian Democrats also expressed that they would support idols by buying funds.

　　In the face of the irrational investment behavior of fans, Ant Fortune issued a reminder on its official Weibo: "Oh baby, invest more carefully, look at the indicators more, and be more rational, so that you can resist risks ~ Oh buy, shout less, and be rational and silent. Several times, support to have another way to achieve, love you".

　　"Wang Xinling Effect" spills over to the fund circle

　　Mango TV's "Sister Riding the Wind and Waves 3" has been on the air recently. Among them, 39-year-old Wang Xinling's song "Love You" has become popular all over the Internet, and many fans born in the 80s and 90s shouted "Ye Qing Hui".

At the same time, many fans expressed their desire to buy Mango Supermedia's stock support. The entry "Wang Xinling fans buy Mango shares to cheer for it" even rushed to the hot search. Netizens jokingly called Mango Supermedia "Wang Xinling Concept Stock".

　　On May 24, Mango Supermedia once rose by nearly 10% in the intraday market, and the increase was 5.46% at the close. The total turnover on the day was 1.054 billion yuan.

　　Under the high heat, the "Wang Xinling effect" also spilled over to the fund circle.

Many Christian Democrats flocked to the fund holding Mango Supermedia. In the Ant Wealth Fund discussion forum, many Christian Democrats expressed their desire to support idols by buying funds.

In the fund discussion area of ​​a heavy-holding Mango Super Media, many Christian Democrats said, "I rushed for Wang Xinling" and "Wang Xinling sold out after being out of the game."

　　In the face of the irrational investment behavior of fans, the secretary of Mango Super Media said in an interview with the media that he did not advocate, "Thank you for your enthusiastic suggestions on the "Riding the Wind and Waves" program, let us look forward to the new performance of the guests in the program in the future. , but I hope fans don’t blindly chase stars, please make rational investments based on the company’s value judgment.”

　　Ant Fortune also issued a reminder on its official Weibo: "Oh baby, be cautious about investing, look at the indicators more, and be more rational, so that you can resist risks ~ Oh buy, shout less, read it rationally a few times, and support other ways. Realize, love you".

　　According to wind statistics, as of the end of the first quarter of 2022, a total of 44 funds in the whole market held a heavy position in Mango Supermedia, holding a total of about 157 million shares, compared with 221 million shares at the end of the first quarter of 2020 and 221 million shares at the end of the first quarter of 2021. The 179 million shares have decreased by about 64 million shares and 22 million shares respectively, and the public fund’s holdings in Mango Supermedia are decreasing as a whole.

　　Among the many public funds, many products of China Industrial Securities Global Fund "have a soft spot" for Mango Supermedia.

As of the first quarterly report of 2022, ZTE Global Fund, the top ten tradable shareholders of Mango Supermedia, occupies five seats. In addition, Zou Xin's Xingquan Green Investment and the relocation's Xingquan business model ranked the eighth and tenth largest circulation shareholders respectively.

　　Compared with the end of 2021, the above five funds have increased their positions in Mango Supermedia in the first quarter of this year. Among them, Xie Zhiyu’s Xingquan Herun has the largest number of shares, reaching 14.3059 million shares, and Mango Supermedia ranks in Xingquan Herun. The fifth largest holding stock.

　　Shares have rebounded more than 30% since late April

　　This is not the first time that "Sister Riding the Wind and Waves" has ignited the attention and stock price of Mango Supermedia.

As early as before and after the broadcast of "Sister Riding the Wind and Waves" in the first season of 2020, its stock price rose from about 39 yuan to about 81 yuan, and the stock price for the whole year of 2020 rose by 107.7%.

　　According to the annual report of that year, Mango Super Media achieved operating income of 14.006 billion yuan and net profit of 1.982 billion yuan in 2020, a year-on-year increase of 12.04% and 71.42% respectively.

Among them, the investment promotion data of "Sister Riding the Wind and Waves" broke many records, and the total number of program advertisers exceeded 40.

　　In January 2021, the stock price of Mango Supermedia rose to a high of 92.85 yuan, but then entered a volatile downward trend.

As of May 24 this year, the stock price of Mango Super Media closed at 37.44 yuan, down more than 60% from the high of 92.85 yuan.

But in fact, since April 22, its stock price has rebounded by more than 30%.

　　On the eve of the launch of "Sister Riding the Wind and Waves 3", on April 25th, Mango Supermedia held an institutional survey, and a number of leading public offerings such as Industrial Securities Global Fund, Harvest Fund, China Universal Fund, and Wells Fargo Fund participated.

　　Regarding how to continuously increase the market share through content innovation, the company said in the survey that "Riding the Wind and Waves 3", "Overcoming Toughness 2" and other comprehensive N-generation and innovative variety shows will be launched one after another. The arrangement is relatively concentrated in Q2 and Q3, and also plans to The online ratio of innovative variety shows has been increased to ensure the continuous competitiveness of the variety show matrix.

Mango TV has been committed to optimizing its own content production team and iterative innovation capabilities over the years. It has obvious advantages in variety shows. It also hopes to improve the overall operation level of the platform through the capabilities of later film and television series.

　　Regarding the impact of the epidemic on the advertising business, the company said that the epidemic has indeed put pressure on the entire advertising market this year, because the uncertainty of the epidemic will bring uncertainty about the production and recording of content. In response, the company has established a set of The closed-loop epidemic management and control system of large teams is very efficient; from the perspective of customers, because the company's market competitiveness in variety shows is very strong, and it has multiple top variety show IPs in the industry, in addition to the IP itself, it can also provide Customers innovate content and marketing, and provide a variety of cooperation models that combine online and offline. At present, the overall investment promotion of key projects is doing well.

　　The risk release of the media sector has been relatively sufficient

　　It is worth noting that the explosion of Mango Supermedia did not drive the media sector. On May 24, the China Securities Media Index fell by 3.59%, and many individual stocks such as People's Daily Online, Duke Culture, and Blue Cursor fell by more than 5%.

Over a long period of time, the China Securities Media Index fell by more than 30% during the year.

　　Zhou Jiansheng, a senior researcher at Nord Fund, said that since the beginning of this year, the media sector has fallen significantly, and it can be said that the risk release is relatively sufficient.

On May 17, the National Committee of the Chinese People's Political Consultative Conference held a special consultation meeting on "Promoting the Sustainable and Healthy Development of the Digital Economy". On May 22, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued the "Opinions on Promoting the Implementation of the National Cultural Digitalization Strategy", which can be seen from the policy side. Start to warm up.

Regarding the market outlook of the media sector, he expressed that he is cautiously optimistic. Media companies are mostly product-based and project-based companies. The outbreak of specific products or projects will benefit the stock prices of related companies. He is optimistic about those companies that can make good products or projects. Companies that continue to contribute high-quality cultural content also deserve continuous attention.

　　CITIC Prudential Fund believes that the bottom line of the policy has been verified many times, and the four high-level meetings from the end of 2021 to the present have continuously conveyed the marginal positive signal of the platform's economic rectification attitude. We believe that the valuation of platform companies that have been oversold in the early stage under the gentle recovery of the regulatory signal is worthy of attention.

In the later stage, the main focus is on the epidemic situation. With the resumption of work and production in Shanghai, 2022Q2 is expected to be the lowest point of the fundamentals of various platform companies, and the second half of 2022 may usher in an inflection point of performance.

　　Specific to the sub-sectors, the media research team of Guotai Junan Securities believes that judging from the trend of changes in the valuation of the media industry since 2021, it has shown a trend of continuous decline. Other major sub-sectors have a greater impact, and the overall valuation of the media industry has fallen again.

At present, the valuations of the four sub-sectors of games, advertising and marketing, publishing, and TV broadcasting are relatively cost-effective. Most film and television theater chains and digital media companies are greatly affected by the progress of content production. After the epidemic eases, it is expected to achieve a strong marginal recovery.