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中视传媒(600088):改劢一根火柴的位置

民族證券 ·  Oct 15, 2013 00:00  · Researches

From Coca Cola's entry into China in 1979, to the introduction of the first Hollywood film in China in 1994, to Disneyland's launch in Hong Kong in 2007, showing Samuel Huntington and Joseph Nye's American cultural globalization strategy; not only that, they also accepted companies from Japan, Europe, and the rest of the world to pursue FDI in Hollywood at the manufacturing level and equity level; Thinking: Just like the Higgs Market, Alibaba changed a match from Yubao to holding Tianhong Fund. It gave a new meaning to investment. It meant that it gave investment a new definition. It was low dust to low dust. Flowers blooming; in a free trade zone There is nothing wrong with the entertainment draft, and the cost can only change the position of a match; logically, only the cause and effect need to be rearranged; Awakening: “The Voice of China” is a real-world application of Jobs' app, mass entrepreneurship is an eternal rule shared by the socialist system and the capitalist system, a kind of “standardized and diversified” cultural product; cultural export: a long-term national strategy. From Coca Cola entering China in 1979, to China introducing the first Hollywood film in 1994, to Disneyland's launch in Hong Kong in 2007, it shows Samuel Huntington and Joseph Nye's strategy for globalizing American culture. From consumer goods to entertainment products, it is a complete cultural strategic component; the first two decades were the two years of the rise of Chinese consumer goods brands, and the creation of “Made in China” global brands such as home appliances, automobiles, food and beverages; standing at the starting point of the new decade, in line with the country's economic transformation and cultural pillar industrial policies, it is expected that a global brand with culture “Made in China” can be realized, and deep cooperation is expected from both production and equity levels. This is what **** expects to focus on the construction and exhibition of Shanghai Disney; cultural input: not cultural export. As the market deepens its understanding of free trade zones, its understanding of the cultural industry also deepens at the same time. This includes two facets, the rich innovation of the Shanghai Free Trade Zone's own business, and the development of the free trade zone from point to point. The three-level jump belt in the Chinese film industry brought about the three-level jump of TV series, variety entertainment, and even news: in 1997, Feng Xiaogang turned the tide with “A, B,” changing the situation where Hollywood dominated the Chinese film market since entering China in 1994; it was from 2002 that the output value of the Chinese film industry maintained a compound annual growth of more than 20% for ten years. The Chinese film industry continued to set new records one after another, and the film dream had only just begun; ten years later, the 2013 free trade zone created soil for the entertainment industry from external Hollywood blood transfusions to internal hematopoiesis, and became China The starting point for another leap forward in the movie dream comes from lack of confidence in the perfect match between the second level and Hong Kong. At the third level, it is expected that a smooth connection between global entertainment will be achieved; the company's interim performance exceeded expectations, confirming the judgment that “TV dramas are in an upward phase of the cycle”; on the other hand, the company's TV drama model has changed from participation in investment to independent filming, and the first half of 2013 has shown remarkable results. Advertising resources are gradually being enriched; the company does not have close ties with CCTV; CCTV intends to use the company's platform to restructure. The impact of the new media has made CCTV gradually realize the weakening of the monopoly nature of media resources. The first non-private enterprise cooperation between CCTV and CCTV shows that CCTV's intention to go overseas is not actually implemented; SMG also promised that in addition to mobile televisions, Dongjiao Mingzhu will fully participate in SMG's new media. The strategic intentions of the two oligarchs are highly consistent, and the state-owned enterprise background capital market operation kicks off; the company is given a “buy” investment rating. According to the company's three-quarter report, the net profit for the full year of 2013 was 1-120 million yuan, corresponding to 2013 EPS of 0.3-0.36, and the corresponding P/E for 2013-2014 was 63X and 47X respectively.

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