Main points of investment

Next Wednesday (September 14), there will be a gem listed company "Fan Tuo Shuangchuang" inquiry.

Fantuo Digital Chuang (301313): the company is an integrated provider of digital creative products and digital integration solutions, mainly providing one-stop digital creative services such as 3D digital content production, software development, comprehensive design, system integration and so on. it is widely used in architectural design, advertising, culture and culture, science and education popularization, smart city, city culture and tourism, sports and other fields. From 2019 to 2021, the company achieved operating income of 550 million yuan / 647 million yuan / 714 million yuan respectively, and its YOY was 34.07%, 17.57%, 10.36%, respectively, and the compound annual growth rate of operating income for three years was 20.27%. The net profit of returning to the mother is 53 million yuan / 65 million yuan / 70 million yuan, the YOY is 47.44%, 23.51% and 7.74%, respectively, and the compound annual growth rate of the net profit of three years is 25.19%. During the latest reporting period, 2022H1 achieved an operating income of 271 million yuan, down 7.03% from the same period last year, and a net profit of 10 million yuan, down 26.94% from the same period last year. According to the preliminary forecast, the company is expected to achieve a return net profit of 24 million yuan to 30 million yuan from January to September 2022, changing from-25.87% to-7.34% over the same period last year.

Investment highlights: 1. Since its inception, the company has focused on the integration of digital technology and cultural creativity, and continues to digitally upgrade traditional creative industries relying on outstanding 3D visualization technology and digital multimedia integration technology. through the creation of digital pavilions and other ways to form a strong core competitive advantage of the company. The traditional creative industry lacks the support of digital technology, the way of expression is simple, flat and straightforward, and the experience is poor. Relying on outstanding 3D visualization technology and digital multimedia integration technology, the company continues to digitally upgrade the traditional creative industry. through the creation of digital pavilions and other ways combined with 3D image / animation, virtual / augmented reality, big data visual analysis to make the expression of intention more real and more comprehensive, while integrating a series of digital multimedia products and services such as digital sand table, arc screen / ring screen, electronic book flipping, holographic projection and so on. Make the creative display experience richer and more interactive, so as to build the company's core competitive advantage. 2. Through successfully undertaking a number of comprehensive and customized projects, the company has become an integrated provider of large-scale digital creative products and digital integration solutions in South China; the accumulated rich project construction experience and customer resources will help the company to further expand its business territory. The company is an early enterprise engaged in digital creative services in South China. He has undertaken and participated in many projects such as "Guangzhou Asian Games 3D Film", "Shenzhen Special Economic Zone 40th Anniversary Lighting Show", "National Network Jiangsu Electric Power experience Hall Interactive Power Orange", Jiangxi Honggutan Acousto Optoelectronic Digital Sand Table and so on. The main customers include Guangzhou Planning Bureau, China Mobile Limited, China Unicom, China Construction first Bureau, Southern Power Grid, Vanke, TCL, OPPO, Country Garden Holdings Group and other large-scale units or companies, forming a good reputation and brand awareness. In the next few years, the company plans to rely on the regional center to establish marketing outlets in national urban agglomerations and other second-and third-tier cities, and choose the opportunity to establish an international marketing network; the current strong project experience and customer resources will lay a solid foundation for the company's business expansion.

Comparison of listed companies in the same industry: the company selects Wind talk Building, Silk Road Vision and Huakai creativity to create comparable listed companies; from the perspective of income scale and business scope, the company and Silk Road Vision are more comparable. According to the above comparable companies, the average revenue of the industry in 2021 is 2.135 billion yuan, the comparable PE-TTM (excluding Huakai creativity / arithmetic average, which is not profitable in 2021) is 64.13X, the PE-TTM of Silk Road Vision is 44.38, and the gross profit margin of sales is 34.09%. Relatively speaking, the company's revenue scale is lower than the industry average, but it has a comparative advantage in terms of gross profit margin.

Risk hint: companies that have started the inquiry process still have the possibility of not being listed due to special reasons, the company content is mainly based on prospectuses and other public materials, and the selection of listed companies in the same industry is not accurate. Risk, content data selection may have interpretation deviation, specific listed company risk is displayed in the text content, and so on.