Light Media Is Favored By Institutions: Wu Chuanyan, A Veteran Of Hongde Foundation, Places A Heavy Stake In "Mythical Universe" And His Imagination Continues To Release

Under the new crown epidemic situation in 2020, the light media rarely achieved profit.

The annual report shows that in 2020, the operating revenue of ray media is 1.159 billion yuan, down 59.04% year on year; the net profit attributable to shareholders of listed companies is 291 million yuan, down 69.28% year on year. The net cash flow from operating activities was - 14 million yuan, a year-on-year decrease of 100.88%.

With the disclosure of the annual report, the increase or decrease of the fund on the light media caused concern. Wu Chuanyan, the "veteran" of Hongde fund, which manages a market value of 50 billion yuan, increased his position in ray media in the fourth quarter of last year. The total shares of five funds under Hongde fund accounted for more than 5% of the total equity.

Where does the logic behind it come from? Through the fog of epidemic situation, animated films and "mythical universe" have become the key words of light media.

During the epidemic period, many films were withdrawn or postponed, and the income of light media film and derivatives business decreased by 62.82% year on year. Visual China

Wu Chuanyan increased his position in the fourth quarter and bet on the recovery of light performance

According to the national film administration, the box office of China's film market will reach 20.417 billion in 2020, two-thirds lower than that in 2019. Among them, the box office of domestic films is 17.793 billion, accounting for 83.72% of the total box office of the whole year. The top ten box office films in this year were all domestic films, of which "800", "my hometown" and "Jiang Ziya" accounted for more than one third of the total box office, and the industry as a whole further concentrated on the top content.

According to the annual report, in 2020, the film and derivatives business income of ray media was 941 million yuan, a year-on-year decrease of 62.82%, accounting for 8.28% of the total revenue, mainly due to the withdrawal or postponement of many films during the epidemic period. According to the annual report, during the reporting period, the total box office of the films invested, distributed or promoted by the company and included in the box office of this report period was about 6.787 billion yuan. During the reporting period, films such as Mr. Miao, 800 yuan, buckwheat growing crazily, my girlfriend is a robot, Jiang Ziya, jingangchuan, if the voice doesn't remember, and Bo Niu on the cliff were released, with a total box office of 62.85 100 million yuan. It is worth noting that the box office of "eight hundred" and "Diamond River" reached 4.234 billion yuan, while ray media only appeared in the two films as a joint producer. In addition, the TV drama business income was 154 million yuan, a year-on-year decrease of 35.23%, accounting for 4.89% of the total revenue. The decline of TV drama business is relatively small, which is mainly due to the improvement of the profitability of the company's single play, and the investment income of the TV series "new world" has been confirmed. Brokerage business and other income was 64 million yuan, an increase of 6.61% year-on-year, accounting for 3.39% of the total revenue.

According to the annual report, by the end of 2020, there were 893 funds holding 286.8798 million shares.

In the fourth quarter of last year, Wu Chuanyan, an "old general" of Hongde fund, substantially increased his position in light media, and his three funds ranked among the top ten circulating shareholders and top ten shareholders. At the same time, the other two funds managed by him also hold light media. Five funds hold 150 million shares in total, accounting for more than 5% of the company's total equity.

Specifically, Wu Chuanyan's management of Hongde Fengrun three-year holding, Hongde Zhenyuan return and Hongde foresight return were ranked as the sixth, seventh and eighth largest circulating shareholders of light media, and the eighth, ninth and tenth largest shareholders, holding 43.9989 million shares, 42.6575 million shares and 38.2659 million shares. The three funds account for 4.25% of the company's total share capital and 4.48% of the circulating shares.

In addition, according to the annual report of Hongde fund in 2020, Fengze, which is managed by Wu Chuanyan, owns 16.9999 million shares and 8.667 million shares respectively, accounting for 0.58% and 0.3% of the total share capital of the company, and 0.61% and 0.31% of the circulating shares respectively.

From the annual report performance, the main revenue of ray media in 2020 will come from the fourth quarter, with revenue of 680 million yuan, accounting for half of the annual revenue. "Fengshen universe" series animated film "Jiang Ziya" won 1.6 billion box office, becoming the biggest revenue contribution work of the whole year.

In this way, Wu Chuanyan increased the position substantially in the fourth quarter, and the light media bet on the rhythm of its fourth quarter performance growth. However, judging from the stock price performance, it is still unknown whether the position is increased at a relatively high level.

Since the stock price of light media reached a five-year high of 18.04 yuan / share on September 11, 2020, it has been fluctuating downward, falling to 10.70 yuan / share. By the end of 2020, it closed at 11.9 yuan, down 55% from the high point. As of April 20, the latest closing date, light media closed at 12.21 yuan / share.

In the second half of the year, Liu Gesong was added to the position of light media, while Zhou Yingbo of China Europe Fund and Hu Yibin of Hua'an fund were also reduced.

The "mythical universe" of light

After sorting out the logic of institutional investment, we can find that the layout of light media in animated films has continued to attract attention since the fire of "the Devil boy of Nezha" came into being.

It has been a long time since light media set up animation films. In 2015, it established Horgos color bar house film industry and entered the animation film industry.

Ray media's blockbuster product "the devil of Nezha" has accumulated more than 5 billion yuan at the box office, breaking the ceiling of China's animation film box office. Last year, Jiang Ziya, released in the National Day archives, also reached 1.6 billion yuan at the box office, becoming the second largest domestic animated film box office. These two films have made the company a leader in domestic animation films.

In an interview in March this year, Wang Changtian said, "we are building our own mythology inheritance context, combing out the relationship structure of the characters, and trying to create a Chinese mythological universe. It may take 20 or 30 years, and there will be dozens of companies involved. The whole universe includes at least 30 or 40 works. " Wang Changtian said at the time that the light has been busy preparing the animated film universe, and more than 20 works are currently under planning.

He said, "Chinese people should watch Chinese own animation, instead of Japanese and American animation dominating our market as in the past. I hope this mythical universe can create Chinese own heroes and mythological system like Marvel Universe."

"During the epidemic period, the production process of animated films has been delayed, but compared with live action movies, the company has been able to smoothly and orderly promote the preparation, production and improvement of various animation films to be released or in production, so as to continuously consolidate the company's first mover advantage in the animation film track." Light media in the annual report so analyzed the actual impact of the epidemic.

Light media said that in the field of animation film, it will continue to focus on building the most powerful animation film creation system in China by means of platform resources, management ability, financial support and talent allocation.

Based on the goal of building a mythical universe, ray media has invested in more than 20 companies. Since the launch of one cartoon app more than a year ago, as a part of the IP closed loop, its role in the animation universe has also begun to play. According to the annual report, 32 original comics have been incubated, covering myth, science fiction, suspense, comedy and other types; the world outlook cartoon "aobingzhuan" derived from the film "the Devil boy of Nezha" has been developed and launched, as well as the comic strip "the other shore flower of Mr. Miao" which is the prequel of the film "Mr. Miao"; and has cooperated with 64 cartoon artists in visual and story aspects.

Derivatives development is also advancing. In its annual report, ray media said that Jiang Ziya has carried out copyright licensing cooperation with high-quality companies that produce shoes, clothing, handmade toys and publications.

In addition, on February 1, perfect world, a game company, reached a strategic cooperation with the color bar house film industry of light media, and obtained the IP game adaptation authorization of three domestic animation films, namely, the arrival of the Devil boy of Nezha, the return of the great sage of journey to the West, and Jiang Ziya. The two sides will work together to create Chinese myth IP system game products.

Marvel Universe provides huge imagination space for domestic film and television industry, but the construction of "myth universe" is not easy, and how to unfold relevant stories also needs a long time to prove.

"Nezha 2" project has already entered the preparatory stage, but as we all know, the production cycle of animation film project is relatively long, which generally takes 4-5 years to precipitate and create. Excellent content works at home and abroad are well worth learning, but blockbuster movies are usually available but not available. " In March, ray media replied on the interactive platform.

From the point of view of Nezha and Jiang Ziya, although both of them are based on the story of Fengshen romance, they are quite different in concept and style. Some netizens complained that this is a fake movie universe.

Are the related films independent of each other or follow a certain "mythical universe" system?

In this regard, light media Securities Department on April 20 to the 21st century economic report reporter said, this also needs to verify with the relevant departments of the company.

The rise of Guoman is expected, and the light media card animation film track, and the latecomers are also rubbing their hands.

In September last year, Huayi Brothers released the animation list for the first time. Animated films have become an important part of the film industry. Three animated films have been launched, including "saving filameng", "blade pariah" and "rock and roll Tibetan mastiff 2". As early as 2016, Huayi Brothers invested in the establishment of a wholly-owned subsidiary Huayi Brothers finishing Animation Co., Ltd., which is mainly committed to the development and production of animation and special effects films.

Wang Zhonglei, vice chairman and CEO of Huayi Brothers, told the media that the difference between the three animated films and the color bar house is that although they are Oriental stories, they use international language. For example, the directors are mature animation directors in Hollywood and Europe. In the future, Huayi hopes to localize animation films, one is the localization of content ontology, which takes root in Chinese stories; the other is the localization of creation ontology to cultivate Chinese young directors to participate. He believes that the difficulty of animation film production lies in the long cycle, and the advantage lies in the long life cycle and complete copyright. Animation films can also be committed to the all-round development of the industrial chain, such as offline theme parks, derivatives, etc.

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