Yuan-lung Yatto: The Winter Olympics licensed merchandise will promote the company’s performance growth

2022-05-17 0 By

This report focuses on the following companies: Yuanlong Yatu (002878) event: According to public information, the licensed product of Beijing Winter Olympic Games “Opening Commemorative gold and silver bars” produced by the company has been sold over 100 million yuan since its debut in official licensed channels on January 4, 2022.In addition, many licensed products in the official Flagship store of the Winter Olympics have been shown to be out of stock.According to the RULES of the Olympic Committee, merchandise licensed for the Winter Games will remain on sale until September.The company is a licensed manufacturer and retailer for the 2022 Beijing Winter Olympic Games.The company has submitted to the Organizing Committee of the Olympic Games a total of more than 600 independently designed winter Olympics souvenirs, categories are very rich, including precious metals;Badges, key rings and other non-precious metal products;Plush and other material toys three popular categories.At the same time, the company will supply licensed merchandise for the winter Olympic venues.The company has obtained the franchise of Beijing Olympic Games, Shanghai World Expo, Nanjing Youth Olympic Games, Beijing International Horticultural Exhibition and other large international top games.The company is the absolute leader of gifts and new media/we media marketing, creative design ability, franchise and high-end IP authorization is the company’s core competitiveness.Company is recognized by the Beijing municipal commission of economy and information technology of Beijing high-tech industry design centre, independent creative design company repeatedly won the international top design award the iF design award and red dot design award – Germany, as well as the highest award on behalf of the Chinese industrial design of China red star design prize award, etc., as well as a number of new media advertising creative industry awards.In addition to the major international top the licensed products qualification, the company long-term high-end IP authorization signed according to the market hot spots, including HelloKitty, doraemon, the NBA, and universal studios in Beijing ahead of the opening signing universal pictures belong to many world famous movie IP, provide for the customer charter and high-end gifts and marketing IP authorized service;In 2020, “Bafalaihe” high-end gift wine developed exclusively for Wuliangye Group with the design and production of Palace Museum elements.The company became one of the first members of the cosmic industry Committee, actively layout the cosmic universe.China Mobile Communications Association Meta-cosmic Industry Committee is the first meta-cosmic organization in China, directly under China Mobile Communications Association (under the business guidance of the Ministry of Industry and Information Technology). The company has become one of the first 65 member units /8 listed companies.At the same time, the company is also a member of the CGA digital metauniverse working Committee.The company launched the “God Beast and Wuchang” digital collection on January 4, adopting the form of blind box and wuliangye “Bafang Come together” cultural wine organic combination, trying to get through online and offline.Maintain a “buy” rating.As a unique company that can provide full-scene marketing services including gifts, new media/we media marketing, licensing and high-end IP licensing, digital SAAS services, digital collection development and online and offline access, the company enjoys a huge market space.In recent years, the company continues to strengthen the core capabilities of design and r&d, relying on the advantages of capital and upstream supply chain, but also extends its business to the joint development and operation of products with downstream customers.It lays a foundation for the company to expand its own brand and 2C business.In 2021, the performance may decline due to the expansion of design and R&D personnel, as well as the impact of changes in the business of major customers such as Huawei caused by the epidemic and china-us relations.But benefiting from the Winter Olympics may have a big boost to the company’s performance in 2022.It is estimated that the company’s net profit will be 1.20/1.98/231 million yuan in 2021-23, and the corresponding PE will be 36/21/18 times, maintaining the “buy” rating.Risk tip: the winter Olympics franchise merchandise sales not up to the expected risk.Author: Securities Analyst: Ni Shuang Professional Qualification Certificate Number: S11905110300052 Ipo Time: 2022.1.27* Risk Disclosure:Dear investors, we solemnly remind you to treat the market rationally. There is no market that only rises and does not fall, and there is no investment that does not take all profits. Investors should understand and always bear in mind the principle of “caveat emptor” and the investment principle of “the stock market is risky, so it is necessary to be cautious when entering the market” to prevent irrational behavior of reckless and blind investment.Rational management of personal wealth, safety first.* Disclaimer: The contents of this article do not represent investment advice and do not constitute an offer or intention to buy, sell or hold any stock.Again, the market is risky and investment should be cautious