Anime toy three quarterly report: mixed performance
Among the six anime toy stocks, the performance growth was mixed. In terms of net profit, the leading stocks of Aofei Animation had the highest growth rate. The net profit of the first three quarters increased by 40.45% year-on-year, and the net profit was 146 million yuan. The Xinghui model was second, with a year-on-year increase of 24.15% and a net profit of 95.52 million yuan. The biggest decline in net profit was Qunxing Toys, which achieved a net profit of 27,719,900 yuan in the first three quarters, down 35.35% year-on-year.
In terms of revenue, except for Converse's shares, which declined slightly by 1.64%, the other five shares achieved revenue growth. Among them, Xinghui car model increased the most obvious, the first three quarters achieved operating income of 1.646 billion yuan, an increase of 134.55%.
In the secondary market performance, as of October 31, Aofei Animation received 30.25 yuan per share. Since January 1, 2013 to October 31, 2013, the increase has reached 140.84%, which is the highest among animation toy stocks. In addition, the share price of Xinghui Car Model, Gaole Co., and Converse has increased by 50% since January 1st to October 31st.
In terms of animation, the increase in revenue was mainly due to the increase in sales of animation toys during the reporting period. The increase in net profit was mainly due to the increase in operating income and the increase in gross profit margin during the reporting period. Analysts generally said that the company continued to push the channel flat, and the price increase of the ex-factory price led to the growth of gross profit margin when the price of the toy terminal remained unchanged. The company's consolidated gross profit for the first three quarters was 43.4%, up 3.8 percentage points year-on-year.
Zheng Ping, an analyst at Minsheng Securities, said that Aofei Animation is actively expanding its industrial chain and is aiming to create “China Disneyâ€. The company carried out a number of mergers and acquisitions in the third quarter, the acquisition of "Pleasant Goat" for the expansion and integration of animation brands, and the accumulation of game IP resources, indicating that the company is steadily promoting the "cultural industrialization" process.
At the same time, the company focused on the expansion of overseas business. The toy company with Hasbro joint venture was established in August. The company's secretarial secretary Zheng Kedong once told the company that the establishment of the joint venture hopes that overseas sales will be equal to domestic sales after four or five years.
** Toy stocks actively seek transformation and upgrading, expand the industrial chain**
An analyst who did not want to be named said that the listed companies of animation and toys are facing transformation and upgrading. The toy industry is mixed and has some alternatives. If the development of simple manufacturing industry will be difficult, it is necessary to expand the upstream and downstream of the industrial chain.
Since the third quarter, the toy stocks have actively expanded their industrial chains, including Aofei Animation, Xinghui Car Model and Gaole. In the process of its expansion, the game was chosen as a breakthrough. While developing the animation and toy synergy strategy, they have chosen to enter the game field.
Among them, Aofei Animation invested 15 million shares in Lakoo Limited (abbreviated as Lacoo) in the report period, and its main business is mobile game development. At the same time, it invested 10 million to participate in the 20% stake in Shanghai Harbin, and its main business is the development of card-type mobile games. Subsequently, in October, it acquired the two-handed company Fanginch Technology and Philharmonic Tour for 692 million yuan to improve the strategic layout of the pan-entertainment industry.
In terms of Xinghui car model, after the first time in August, the company won the 51% equity of the mobile advertising platform Guangzhou Guguo and 100% of the online game company Tiantuo Technology. At the same time, the game adaptation rights of some of the three martial arts masters of Liang Yusheng, Wen Rui'an and Jin Yong were successively obtained, and the game platform and content resources were fully accumulated.
Gaole shares announced their entry into the mobile game business in early July and set up a branch to operate specifically. At present, the company's mobile game products are still in the process of research and development. The company's securities department has told the agency that the mobile game product combines the advantages of palm game consoles and mobile games, and is expected to launch products to the market at the end of 2013 or early 2014.
Qunxing Toys also said that the company will strengthen its deep and horizontal investment in the industry chain. The company’s certificate generation Wu Dongyu once told the company that the management is still in the process of planning, and the investment industry mainly considers the animation and game industries.
The above analysts said that these companies have transformed from the original toy manufacturing to entertainment providers, and the future development opportunities are even greater. The introduction of games as an emerging strategy, combined with the original business, is a good entry point.
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