The country's first "provincial network" radio and television operator
On the basis of Shaanxi Radio and Television Information Network Co., Ltd., the radio and television network was established through network integration, reorganization, backdoor, additional issuance financing, overall listing and collectivization operation. it is the first provincial radio and television network company in the country to realize "one network in the whole province". The company focuses on video, data and intelligence, covering characteristic content, system integration, Internet finance and so on.
The radio and television network is of strategic significance, and the radio and television industry ushered in new opportunities for development.
The radio and television network is a strategic basic network, the radio and television industry continues to decline in the mobile Internet era, facing the survival problem in the radio and television grid, in order to save the national radio and television network, the central level to promote the national radio and television network integration and radio and television 5G. In August 2018, the propaganda Department of Communist Party of China Central Committee took the lead in bringing together six ministries and commissions to set up a national cable television network integration group, raising the level of radio and television network integration to the national level; in 2018, the Ministry of Industry and Information Technology agreed to issue 5G licenses to Radio and Television Grid. 5G ushered in the dawn; in March 2019, State Grid, CITIC and BABA signed a strategic cooperation agreement, radio and television network integration and radio and television 5G will soon be launched. The current round of radio and television network integration and 5G construction work have brought new development opportunities for the radio and television industry.
Deeply ploughing the main business of wired network operation, actively exploring new business type
The company continues to consolidate the traditional business advantages, while promoting government informatization, smart business and the development of diversified industries. Companies in traditional business areas continue to promote network optimization and upgrading, consolidate the traditional radio and television network operation business market; in new business areas, companies develop government information and intelligent services to open up the potential market in the 5G era; in the face of the new situation, the company promotes the implementation of "five major projects" to cooperate with the construction of county-level financial media centers at the national level, the "Xueliang Project" and the "Rural Revitalization Project".
The target for the benefit of radio and television network integration, for the first time, the "recommended" rating company, as the first radio and television operator in the country to realize "a network in the province", relies on the operation business of the radio and television network in Shaanxi Province to promote government informatization and wisdom business. the business is initially diversified. The company is expected to take advantage of 5G and "national one-network integration" opportunity to achieve a breakthrough in traditional business and usher in great-leap-forward development. It is estimated that the return net profit of the company from 2018 to 2020 is 1.66 million yuan, 191 million yuan, respectively, and the corresponding EPS is 0.24 yuan, 0.28 yuan, 0.29 yuan, respectively. The current stock price corresponds to 47, 41 and 39 times the PE from 2018 to 2020, respectively. Cover for the first time and give a "recommended" rating.
Risk hint: the progress and intensity of radio and television network integration is not as expected, and the promotion of 5G business is not as expected.
