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深度*公司*天龙集团(300063)三季报点评:互联网营销布局初现成效

中銀國際 ·  Oct 29, 2015 00:00  · Researches

Incident: Tianlong Group (300063.CH/RMB 36.62, no ratings) released its three-quarter report today. In the third quarter of 2015, the company's total revenue was 283 million yuan, an increase of 20.07% over the previous year. Net profit attributable to listed companies was 12.864 million yuan, an increase of 720.44% over the previous year. Earnings per share were 0.064 yuan, a year-on-year increase of 721.36%. In the first three quarters of 2015, the company achieved revenue of 745 million yuan, an increase of 13.55% over the previous year. Net profit attributable to listed companies was 14.3421 million yuan, an increase of 7,423.28% over the previous year. Comment: 1. Internet marketing continues to contribute profits: In the first three quarters of 2015, the Internet marketing business contributed a total of 28.7577 million yuan in net profit to the company, of which Beijing Zhichuang, a mobile marketing service provider with 100% of the company's shares, contributed 27.5936 million yuan. The net profit contributed by Beijing Zhichuang in the first three quarters has already exceeded the 23.4 million yuan promised at the time of its acquisition. As can be seen, whether it is the mobile marketing industry that Beijing Zhichuang is in or the mobile marketing solutions that Beijing Zhichuang is currently developing for brand customers, they all cater to the current trend of brand advertisers shifting from offline and traditional media to online and mobile device marketing. Beijing Zhichuang mainly serves the “financial owners” of the two major advertising industries: the first is the automobile industry. Customers include ABB (Audi, Mercedes-Benz, BMW), the three famous automobile manufacturers. The second is the FMCG industry, which mainly serves the global Lijieshi Group. Its major brands include Dilu and Vitin. In the traditional business, the ink chemical sector performed steadily, while the forestry chemicals sector lost more losses. 2. Lay out the entire Internet marketing industry chain to achieve comprehensive transformation of the company: In the first three quarters of 2015, the company completed 100% acquisition of SEM (search engine marketing) company Pin-Zhong Interactive. Compared to Guangzhou Orange Fruit, Beijing Zhichuang, and Youli Interactive, which were previously acquired by the company. Pinzhong Interactive has accumulated more in the SEM industry, and the company is larger. Pinzhong Interactive promises that net profit attributable to shareholders of the parent company after deducting non-recurring profit and loss in the consolidated statements for 2015, 2016, and 2017 will not be less than 10,000 million yuan, 130 million yuan, and 169 million yuan, respectively. The company's acquisition of Pinzhong Interactive can be considered a sign of the company's comprehensive transformation from traditional industries to Internet marketing.

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