Kaiser'S "Cross-Border" Online Games Gross Profit Margin Of Up To 90% Garment Business Gradually Withdraw

Recently,

Shares are also announced to cooperate with the Shanghai art film studio, and jointly produce "new gourd brothers", the animation program in the country more than 70 television stations and Iqiyi network exclusive line, Kaiser shares also won the "new gourd brothers" hand travel adaptation rights.

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Since the pan entertainment circle, Kaiser (China) Limited by Share Ltd, a clothing listed company, has been in constant action. In 2015, it bought Shenzhen cool cow Interactive Technology Co., Ltd., Hangzhou magic Wen Technology Co., Ltd. and Sichuan Tian Jia Jia Net Technology Co., Ltd., and further consolidated the layout of its pan entertainment industry chain in the year of 2015.

Recently, Kaiser shares announced cooperation with Shanghai art film studio and jointly produced "new gourd brothers". The animation program has been launched exclusively on more than 70 television stations and Iqiyi networks nationwide, while Kaiser shares won the right to edit new hand gourd brothers.

Reporters today learned that Kaiser shares recently said that in 2015, sales of clothing accounted for a large proportion of the company, but profits mainly come from Internet game companies.

In the future Kaiser shares will be deployed in every aspect of the pan entertainment industry chain.

Continuous mastery of IP sources is one of the major strategies and participates in the projects of film and TV dramas and big movies through project cooperation.

In the field of animation, we will purchase the top IP in China to cash in through the game, expand cooperation with the well-known CP industry, and jointly amplify IP accordingly.

Reporters learned here that Kaiser shares have been pformed into the Internet cultural field since 2014. They have completed the acquisition of cool cow interaction, fantasy technology and sky friends, and have successfully established the prototype of Pan entertainment with the core of IP operation (+IP).

In 2015, the company achieved a net profit of 80 million 920 thousand yuan, an increase of 1133% over the same period, and greatly improved its profitability after the pformation.

According to a research report from CITIC, 5 of the total sales of the new fairy sword on the Internet were 2 hundred million, with the "new Legend of Sword and Fairy 3D" standard on the sky, and the agent is "Tianjin follows Yue". The operation mode is joint operation.

Suppose that Kaiser's three national IP were adapted to mobile games respectively. Three games were issued by Tencent, and the sensitivity analysis was based on the total game flow and the company's net interest rate.

Conservatively estimated that the total flow of each game can reach 2 hundred million, the overall forecast of neutral forecast is 300 million, the optimistic estimate is 400 million, and the net interest rate of palm technology is 45% as the intermediate forecast value, up and down 10%, and the net profit margin of game subsidiary 35%, 45% and 55% three variables.

Considering the worst case scenario, if the total flow of a single game is 200 million, the net interest rate is 35%; the channel cost rate is calculated by 50%, the channel cost rate is 25%, and the combined operation rate is 40%. Finally, the net profit of each game of Kaiser is 20000 x 0.5 * 0.75 * 0.6 * 35%=0.158 billion.

A conservative estimate of the three games can increase the net profit by about 47 million (neutral 90 million, optimism 150 million).

Kaiser and Tencent animation IP cooperation agreement for a period of 2 years, it is expected that three IP game adaptation will be completed within the time limit of the contract, this cooperation will have a significant increase in the net profit of Kaiser in the next three years.

Wen Hao, a researcher at Tianfeng securities, said that Kaiser has initially established a IP based operation ecosystem through two years' active layout.

In terms of IP reserves, magic technology can continue to provide IP resources in the system. Meanwhile, Kaiser stock parent company reserves high-quality IP through external cooperation purchase, and "endogenous + outsourcing" ensures that the upstream reserve keeps flowing.

At the level of IP realisation, cool cattle interaction has strong capabilities in game R & D and operation. The sky has a large scale R & D team, capable of developing many kinds of boutique games at the same time, and has rich game distribution and operation channels and strong capability of game R & D and IP resource pformation.

Cool cow and sky Jia Jia can smoothly undertake upstream IP resources and complete IP cash through mobile games.

In addition, Kaiser shares and magic technology can also participate in big movies, TV dramas and Internet dramas with project cooperation, and jointly enlarge IP effect with excellent industry partners.

2015, Kaiser apparel business

For 22.9%, revenue accounted for 76%, net loss for the whole year was 33 million 490 thousand yuan, cool bull interaction gross profit rate and net interest rate were 85.59% and 71.5% respectively; magic technology gross profit rate and net interest rate were 87.68% and 65.9% respectively; celestial friend Jia 2015 1-9 month gross margin 85.5%, net interest rate 61.3%.

According to the company announcement, from 2016, the company will adopt a brand licensing mode for the clothing industry, and the garment business will gradually withdraw, so that the company will gradually withdraw.

Revenue and operating costs are handled by decreasing year by year. The increase of cool cow interaction, fantasy technology, and sky Jia Jia's revenue will drive the company's gross margin and net interest rate to rise substantially.