Main points of investment
Event: on June 5, after friendly consultation between Zhejiang Sports Bureau and Rhine Sports, the two sides planned to sign the Zhejiang Women's Ice Hockey team Joint Cooperation Agreement and the Zhejiang Women's Curling team Joint Cooperation Agreement to jointly build Zhejiang Women's Hockey team and Rhine Hockey Club.
The "two core systems" of the company's sports industry add new IP. To jointly build Zhejiang women's hockey team and Zhejiang women's curling team, the company enjoys the exclusive commercial development and marketing of the relevant elements of the team, as well as the right to obtain operating income, and has the right in the course of events, commercial, public welfare and other activities, use the trademarks, trade names and brands of Rhine Sports and Zhejiang Rhine Ice and Snow Sports Development Co., Ltd. This cooperation is an important step for the company to actively implement the "416 Strategy", promote the construction of the "two core systems" of the company's sports industry, and consolidate the layout of the ice and snow sports industry.
Actively seize the development opportunity of the 2022 Beijing Winter Olympic Games. With the holding of the 2022 Beijing Winter Olympic Games, it will promote the development of curling, and then promote the development of the company's curling business. At the same time, according to the announcement, the company will form a team to participate in more than two official national women's ice hockey and curling competitions from 2018, and form a team to participate in the 2020 National Winter Games in Inner Mongolia.
The audience of ice hockey and curling in our country is growing. Ice hockey and curling have a certain audience base in China.
The 2017 Women's Curling World Championships were held in China, with the highest harvest in nearly five years, reaching 0.21%. In 2016, the Beijing Kunlun Hongxing Hockey Club was established, and the history of professional hockey in China began.
With the expansion of ice from the north to the south and the expansion from the west to the west, the market prospect of ice and snow sports in the south is broad. "the expansion of ice from the north to the south and the expansion to the west" is an important development strategy put forward by China's winter sports, so as to realize the common development of 300 million people participating in ice and snow sports and the common development of Chinese ice and snow sports in the south and north.
Profit forecast and investment rating: the company's EPS from 2017 to 2019 is expected to be 0.08max 0.12max 0.16 respectively, maintaining the "overweight" rating.
Risk hint: the development of sports business is not as expected, and the performance of curling competition is not as expected.