Overall, Dongfang Wealth Securities believes that Feitian Cloud's revenue has maintained a good growth trend. Measures such as repurchases and voluntary shareholders' sales bans show long-term confidence and are optimistic about the company's future development.
The Zhitong Finance App learned that Dongfang Wealth Securities released a research report stating that maintaining the “increase in holdings” rating of Feitian Yundong (06610), it is expected to achieve operating income of 13.90/18.24/2,272 billion yuan in 2023-25, while EPS is 0.16/0.21/0.25 yuan/share, respectively. The company's main business is developing steadily, and it is expected to benefit from the popularity of equipment brought about by the boom in short dramas and the development of VR technology. On November 14, 2023, an announcement was issued to repurchase up to HK$70 million of shares on the open market, with no more than 54.3 million shares to be repurchased.
The main views of Orient Wealth Securities are as follows:
Measures such as buybacks and voluntary shareholders' sales bans demonstrate confidence in the company's long-term development.
2023H1 achieved revenue of 599 million yuan, a year-on-year increase of 26.6%; realized net profit of 116 million yuan to mother, an increase of 41.4% over the previous year. Prior to this repurchase, the company issued an announcement on August 17, 2023. The company's chairman Wang Lei, co-founder Li Yanhao, and several entities controlled by both parties have voluntarily promised not to sell any direct or indirect company shares for a period of six months from August 18, 2023; since October 2023, the company has frequently received additional holdings from majority shareholder Li Yanhao. Overall, the bank believes that the company's revenue has maintained a good growth trend, and that measures such as buybacks and voluntary shareholders' sales bans demonstrate long-term confidence and are optimistic about the company's future development.
ToB/g is developing steadily, and ToC continues to expand.
The company continues to focus on B/G customers. During the Hangzhou Digital Trade Fair, the company also signed a digital twin media marketing platform project strategic cooperation with Capital Airport Group Media to explore new possibilities of deep integration between transportation hubs and urban life; the company and Zhongchuang Cultural Insurance signed a strategic cooperation agreement for the VR Sanxingdui Ruins Archaeological Module Project, which will launch the world's first Sanxingdui Archaeological Warehouse based on VR technology as a technical supporter to promote the digital protection of cultural heritage. At the same time, the company is actively expanding AR/VR content services for individual consumers. “Li Haoya”, the digital person incubated and operated by the company, had gained nearly 3 million fans on the leading short video live streaming platform just three months after launch. On December 19, the company announced that it signed a cooperation agreement with Beijing Lanting Digital to jointly produce the XR version of the “B50” Golden Song concert and related variety shows. The two sides will work together to provide a new viewing experience for the concert scene, so that the audience can enjoy a more immersive entertainment experience.
A pioneer in the field of interactive drama, it is expected to benefit from the boom in the industry.
The recently launched interactive drama game “Oops! “I'm Surrounded by Beautiful Women” was successfully released and received a great response in the market. According to SteamDB data, the total sales volume of the game exceeded 800,000 units. In 2017, the company already laid out interactive dramas ahead of schedule, and launched its own interactive drama games “When Love Goes On I” & “When Love Goes On II” on Android and iOS platforms. On December 20, the company announced a cooperation agreement with Beijing Imagine Particles to distribute the VR version of the first large-scale sci-fi themed interactive video work “Reverse 21 Grams” in China. Currently, “Reverse 21 Grams” has officially logged on to the Steam platform and is open for reservation. On the content side, the short drama boom is right; on the device side, XR devices continue to be popular, and the key product AppleVisionPro is expected to be launched in early '24, and the company is expected to benefit from the industry wave.