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深度*公司*明家联合(300242)调研纪要:打造全球领先的移动智能解决方案提供商

Depth * Company * Mingjia United (300242) Research Summary: to build the world's leading mobile intelligent solution provider

中銀國際 ·  Jan 6, 2017 00:00  · Researches

Events:

Mingjia United (300242.CH/ RMB 13.22, not rated) recently held an investor exchange meeting, company chairman Zhou Jianlin and other senior executives attended the conference.

Mr. he, the senior executive of the company, spoke

1. The world's leading provider of smart solutions for mobile marketing

The company went public in 2011 and began to consider transforming the mobile Internet in 2013. In 2013, we chose digital marketing as our transformation direction to acquire the target company. At present, the mobile Internet has entered the second half, the era of artificial intelligence. We will also have a layout next, and this layout is big data. Big data will become the infrastructure of the artificial intelligence era.

Big data is the foundation of artificial intelligence. Big data's realization includes e-commerce, marketing, games and so on. We already have a marketing layout, and of course big data is the direction of our next layout.

From our overall layout, in 2014, our first company, Jinyuan Interactive, was a media agent, and the company acquired in 2015 was mainly for distribution. After completing the layout in 2015, we will think more about the core technology that will be brought to Mingjia in 2016. Mainly to build the company's big data team.

The current company's main layout of Jinyuan interaction, micro-profit interaction, cloud time and space are all mobile marketing industry chain.

Jinyuan Interactive mainly does digital marketing. From the earliest Baidu, Inc. search agent, Jinyuan Interactive has represented hundreds of media resources this year. Micro-win interaction is the largest advertising platform and advertising alliance in China. The current profit scale is about 100 million. Cloud time and space, the main team is in Shenzhen.

In 2015, we did the team's equity incentive, the incentive condition is to bet on the performance based on the addition of 10%.

2. Future Vision

Build the company into a multi-scene data cash platform. In 2015, we divested the original major shareholder assets, and the team of the current listed company is brand-new. We mainly need to do a few things:

1. Team integration

two。 Business collaboration

3. Technology Research and Development

4. Epitaxial expansion

2017 is the last year for each subsidiary to bet on its performance, so it is necessary to coordinate and coordinate the business of each subsidiary. At the same time, technically build a team. From the perspective of future planning, we hope to do mergers and acquisitions from digital marketing to the technical level, and at the same time look at some projects overseas. Second, the chairman of the company, Mr. Zhou, explained that the core of the strategic layout of the company is to improve the efficiency of advertisers and serve them better. In terms of acquisitions, we are not only thinking about things with large profits, but we hope it is related to our strategy, even if the profits are less at present.

III. Jinyuan Interactive leaders' speech

1. Industry status

With the support of listed companies, Jinyuan has become the number one company in mobile distribution. There is no problem with the source of gambling to complete the performance. In the overall layout of the Ming family, Jinyuan is combined with some other brother companies to do some industrial chain layout. Jinyuan Interactive is Baidu, Inc. 's five-star agent, including XIAOMI, OPPO, vivo and other hard-core alliance agents, Jinyuan is the first. Jinyuan started with a more accurate positioning, only moving, so we were 2 years earlier than our competitors. Whenever there are new mobile media resources, we will be the first to win.

2. Advertisers

Advertisers, network services, finance, tourism, e-commerce, games, mainly advertisers in these industries. We are mainly KA customers. We currently do not do, education, health care, home and other industries, there is no customer coverage. Large customers, the whole case of a single big advertiser is basically more than 10 million orders. We have more than 700 big clients.

The gross profit margin on the mobile side is definitely higher than that on the PC side. As customers increase, gross margins may decline slightly. In the second half of 2016, Jinyuan focused on strengthening its revenue volume.

For Mingjia Union, we have 20 or 3 billion of our revenue in 2016, and we hope to grow to 40 or 5 billion by 2017.

IV. Question and answer session

What is the idea of the strategic layout of QRN 2017?

A: the company's strategy has always been stable and sustained.

Q: big data's layout?

A: at present, the source and realization of big data are the core issues. If this problem is not solved, it will be a waste of money. At present, we have been in the field of big data for more than 1 year, but we haven't had too much communication with the market before. We have been working with UnionPay for a long time, mainly on some financial data. Our big data plate will not vigorously publicize with the market before it is realized again.

Q: from an industry point of view, how can the company improve gross margin and customer stickiness?

A: the industry is currently experiencing high growth, and gross margins will definitely decline in the future. At present, our plan is mainly to grasp the core technology. At present, the media, advertisers are relatively strong, marketing is in the middle of this squeezed link.

Mingjia core is to help advertisers improve efficiency, we have done a lot of layout.

Q: how to increase the market share of the company?

A: for example, Jinyuan Interactive will be able to buy more than 10 billion yuan on mobile this year. Jinyuan is also one of the top ten agents of XIAOMI.

Q: the layout of overseas?

A: we have been paying attention to overseas projects since 2015, but we will certainly find a company suitable for Mingjia. Q: which part of the company is big data's layout mainly in?

A: mainly in the service to advertisers. In fact, a large part of the kid technology we planned to acquire is big data's business. Work with UnionPay to get a lot of financial data. Another target of the proposed acquisition, online and offline, is mainly some data from operators.

Q: the marketing change brought about by Mini Program?

A: we are very concerned about the changes in this area, but we will still follow our strategic layout. In 2015, we laid out new portals such as H5Magi WiFi. We should understand the industry thoroughly before we do it. Therefore, our layout is relatively sound, not eager to seek high profit volume of the company.

Q: the current operating status of the company? What is the performance forecast for 2017?

The results of the three companies in 2017 are due to bet, an increase of about 30% on the basis of 2016.

The annual preparation exam in 2017 is about 2.2-250 million.

For the previous merger and acquisition of Kid Technology, the performance commitment of Kid Technology is 50 million. But at that time, I mainly asked Kid Technology to help us build big data's team. At the same time, the funds of listed companies are relatively tight, and Mr. Zhou personally invested in many early unprofitable projects.

Q: the rhythm of extension?

A: plan, boy + other companies with data to combine to do a new round of mergers and acquisitions. Originally, we planned to be overseas in 2017, but now there are some adjustments to the plan because of the passing of the meeting in 2016.

Q: the financial pressure of Jinyuan?

A: from an industry point of view, 20% of the overall revenue of any advertising agency needs to be advanced. Customer account period, it takes half a year to 1 year. And cloud time and space, micro-win two companies, these two companies do not need the financial support of listed companies.

Q: will the remaining shares of Jinyuan Interactive executives be reduced?

A: it will be considered according to the overall planning arrangement of the listed company.

Q: what is the arrangement for Jinyuan Interactive to contribute excess profits?

A: according to the original terms, the layout that exceeds 40% of the bet will go to the team. At the same time, we also have employee equity incentives.

The translation is provided by third-party software.


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