Dismantling 30 "False Starts" Performance Notice: The Epidemic Affected The Old And Hot Risks In The Cold And Warm Season.

"Online video, games and other sectors this year will exceed the expected rate of development, the relevant listed companies grew steadily in 2018, but the special situation in the first quarter of 2020 significantly reduced the difficulty of acquiring new customers in the industry." In March 6th, Luo Jie, manager of Penghua media index fund, told the business reporter in twenty-first Century.

According to the twenty-first Century economic report reporter combing, about 30 listed companies preempted the first quarter results announcement in 2020. Coincidentally, the hot plate is particularly typical. The performance of Listed Companies in game and food industries was not affected by the epidemic in the first quarter, but increased significantly.

Of the 30 listed companies that have disclosed quarterly earnings forecasts, net profit has increased by 19 over the same period, including 300045.SZ, 002136.SZ, 002605.SZ, 300708.SZ, and 4 companies have forecast net profit growth of 100% over the previous year.

At the same time, the net profit of 9 listed companies, 300322.SZ, 603026.SH and 300727.SZ, declined year by year.

According to reporters combing, a number of companies mentioned the impact of the epidemic on the first quarter results. At the same time, the difference of the first quarter results reflects the hot spot of the capital layout in the early stage.

"Online economy" is strong.

"The company's three core game products, fish ball game platform, Yao Chi fishing and Xiaomei Dou landlord in this period of performance are more prominent, compared with the previous active users, water growth and other obvious growth." In March 6th, yao ji technology, a securities division, told the business reporter in twenty-first Century.

Many investors still remember the past "Yao Chi" poker, in 2015, "arrogant", and then the cliff clipper market.

Due to the impact of the epidemic, the audit business of Listed Companies in many areas has been impacted, resulting in increased pressure on disclosure of financial reports. Against this background, it is also more interesting for some enterprises to grab financial data.

Taking the forecast released by Yao Chi technology as an example, it is predicted that the net profit from the first quarter of 2020 will be between 132 million yuan and 174 million yuan, up 150% to 230% over the same period.

This is one of the 30 highest net profit year-on-year growth companies that have disclosed quarterly results.

The rapid development of the game business and the growth of the overseas game business are important reasons for the first quarter results of yao ji technology. However, yao ji technology also said that due to the impact of the epidemic, the overall logistics arrangement and the resumption of business were limited, and the operation of poker business and related stock companies were also affected.

In addition to Yao Ji technology, there are also two listed companies related to game related network (002174.SZ) and Kunlun world wide (300418.SZ). The former has attracted much attention due to goodwill, while the latter has heard rumors of "predicament".

Data show that the first quarter net profit growth rate is 80% to 100%, and Kunlun world wide also expects net profit growth of 33.7% to 58.7% over the same period.

From the data of net profit, Kunlun's World Wide Web, Yao family network and yao ji technology 3 game companies have already broken 100 million in the first quarter, ranking the top three of the 30 companies that have released data. Among them, Kunlun world wide expects net profit in the first quarter from 507 million yuan to 602 million yuan, ranking first.

Affected by the new crown epidemic situation and the Spring Festival holiday, the total online time continues to rise, with a growth rate of 20.75% over the 20 day. At the same time, key nodes and policy initiatives boosted the growth of online time. Users of the whole network use the total length of the Spring Festival holiday every day, and the Ministry of education delayed the opening of school and the first day of home office.

Among them, the whole network time obviously shows the state of tilt to the short video and game industry. The game App market is hot, replacing the offline entertainment social needs. At the same time, many companies have stepped up their efforts to promote new products for their products.

"Every quarter and every month we have continued promotion of our games. In the past two years, the promotion cost of game companies is still very large, and the corresponding performance is also very good." Aforementioned yao ji technology people said.

A person in the chess competition center of 002354.SZ also told the twenty-first Century economic news reporter, "the national craze for online chess tournaments in the world cyber games series during the Spring Festival has brought a huge number of new users to the relevant chess and card products, such as the landlords, and the average number of new players added during the Spring Festival Competition is 6 times that of normal times."

In addition to the game industry, 002515.SZ, a traditional food industry, has also achieved growth through the online economy.

Golden ham is expected to grow in the first quarter net profit from 41.16% to 72.53%. In the first quarter, the year-on-year increase in net sales revenue was an important reason for the sharp increase in net profit.

As early as in the early January, the golden ham said that the company had been involved in the net red live broadcasting area, and had long worked with Taobao anchor such as Wei Ya. In the evening of January 5th, Li Jiaqi's live room had the pepperoni sausage with golden ham. The sales data showed that the product sold 100 thousand packages in 5 minutes, and the total sales exceeded 3 million yuan, and the total number of viewers was 16 million 770 thousand.

"We first worked with Taobao anchors in 2018, and we did a whole year in 2019. Net red anchor is indeed a good sales channel, which can attract some young people who have not covered the sales channels to try the company's products. Of course, it's not realistic to rely solely on the net red anchor to bring the goods, and the anchors sell every product for a short time, and there are also platforms and so on. In March 6th, the golden ham insiders told the business reporter in twenty-first Century.

"The first quarter and the four quarter is the company's peak sales season, the first quarter of this year's performance and last year also has a certain continuity, in fact, it is not surprising." The source said.

Epidemic affects polarization

While the performance of listed companies on the "online economy" sector has shown strong growth, the epidemic has also brought pressure on the performance of many listed companies.

According to the twenty-first Century economic report reporter combing, 9 companies listed on the decline in the performance of the year, Shio Katsuka, shubedd, run he material is the largest net profit year-on-year decline in the 3 largest.

In terms of main business, companies with declining performance focus on material preparation, equipment and parts, etc.

For example, net profit in the first quarter is expected to decline from 60% to 80% in the past year. Due to the impact of the new crown pneumonia epidemic, the production of 30%-50% series of carbonates has been reduced, and the biofuel plant has been shut down due to market impact.

Similarly, it also announced its earnings forecast, which is expected to be 4 million 500 thousand yuan to 7 million 500 thousand yuan in the first quarter, down 45.82% to 67.49% compared with the same period in 2018. The reason is also affected by the epidemic. Downstream customers are lagging behind, resulting in a decline in product sales compared with the same period in 2018. Moreover, due to the reduction of product sales and the reduction of capacity utilization, the cost of unit manufacturing increased.

People's livelihood securities related stakeholders believe that the downstream industry is also a manufacturing enterprise, demand and operating rate dragged down by the epidemic, or the business mode of high logistics dependence on the company's performance will be greatly affected by the epidemic. In addition, the demand for upstream, price pressure, higher inventory, and the risk of premium volume of upstream resource goods industry, as well as offline consumption attributes strong, significantly reduced passenger travel. Hotels, aviation and so on.

However, many agencies also pointed out the short-term characteristics of the impact of the epidemic.

"From the economic point of view, although the epidemic has a great impact on the real economy, it is all a one-time impact. After the epidemic, the economy will quickly return to normal growth." A fund manager in Southern China said when interviewed.

On the other hand, for the listed companies with outstanding performance in the "online economy" sector, their performance persistence after the current special period is also the focus of attention.

For example, in view of the game industry, there is a view that whether the game industry will reach a high level in the first quarter after a short period of growth, and the subsequent growth is weak.

"Overall, the amount of downloads in the game area has declined slightly after part of the Spring Festival holiday, but overall is still ahead of the holiday season. Judging from the current situation, due to the fact that the epidemic has not yet ended, the enterprises are returning to work staggering peak, and the primary and secondary schools are not yet open, and the users' spare time is still relatively abundant. The heat of the game industry's search traffic remains high, and Baidu data has not seen a significant decline. In March 6th, Jiang Na, deputy general manager of the research department, said.

In its view, the main contribution to the performance of the first quarter is the old product, followed by the new product on-line, overlapping product cycle, there is still hope to create a new high.

"Our game tends to be casual, unlike role-playing large online games that need to be upgraded and need to be kept online, and the game takes less time, so even if the time is reduced, users will still be on the free time." The above yao ji technology people said.

Capital intensive layout

"Under the influence of the epidemic, online media, online games, online interaction and many other related industries and companies will have better opportunities for development. At the same time, the technological support behind these On-Line Company, high-tech companies and 5G companies will also benefit from the epidemic." Beijing, a large public fund investment director said.

Judging from the performance of the two tier market, the "online economy" related stocks represented by yao ji technology and other companies have been continuously pursued by funds since the beginning of the year.

Yao Chi technology has been on the list since January this year. Since January, the stock price of Yao technology has risen continuously, reaching the highest price of 45.32 yuan in February 6th, up 133% from the closing price at the end of last year. Subsequently, the stock price came back until 33.12 yuan in March 6th.

Data show that in January 8th, January 10th and January 20th, all funds were net buying status, and institutions and hot money frequently appeared on the list.

Among them, in January 8th, four of the top five sales offices were institutional seats. In January 10th, there were two institutional seats on the top five sales offices. Even after the adjustment of the subsequent market, there were still large seats for institutional seats in February 19th and March 2.

"The catalyst for the strong gaming sector at the end of last year was the launch of cloud game products by Google, an overseas Internet giant. The cloud game is expected to gradually fall into the industry in the next one or two years, and the leading companies in China will also launch corresponding cloud game products." Lin Qingyuan, manager of the three power fund for transformation and transformation, told the twenty-first Century business reporter.

It believes that the game sector has been down for three consecutive years, and its share price is relatively low, which is also a strong factor in the near future.

In fact, CITIC game index continued to grow in December last year, January and February this year, with a monthly increase of 16.05%, 9.45% and 5.86% respectively.

"At present, the market outlook for the industry is steady development. If the cloud game landing speed exceeds expectations, there may be capital inflow into the sector." Lin Qingyuan pointed out that "the future gaming industry has a large market space, but investment opportunities may be concentrated on a few leading companies."

"For example, some online education, telecommuting and other stocks are more capital speculation, and it is more difficult to achieve sustained growth in performance. When the epidemic is over, it is hard to say what the moat of these short-term stocks is. Kang Shui Yue, chief investment officer of Danyang investment, said.

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