Investment Summary AAC Technology announced the company’s interim results as of 30 June 2021. During the period, the Group’s revenue was RMB 8.6 billion (+9.9% yoy and + 0.6% qoq). The gross profit was 2.4 billion (+32.8% yoy) and the gross profit margin was 28.1% (+4.9 ppts yoy). The Q2 gross profit margin was 25.0% (-6.1 ppts qoq). The net profit was RMB 921 million (+ 187.4% yoy and -26.9% qoq). The net profit margin was 10.7% (+6.6 ppts) and...
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■Sony  vs  Nintendo Sony Group and Nintendo’s Game business is recently gathering attention in three areas. First, in the hardware/platform space- measuring by the number of users utilizing the game communication network via a monthly paid subscription service, Sony’s Playstation has already achieved over one hundred million accounts, whereas Nintendo as a latecomer, has its membership users growing steadily alongside  Nintendo Switch sales. Second, in the Game IP (Intellectual Property) space, despite Nintendo leading by far, Sony is catching up via its subsidiary Aniplex’s release of the global blockbuster “Demon Slayer-Kimetsu no Yaiba-The Movie”. Third, in other game related areas, Sony is still the unrivalled lead in movies and music,  however Nintendo has decided to make use of its abundant game IP licenses in its forthcoming launch of theme park Super Nintendo World in collaboration with Universal Studios. ■Win for Square Enix by a large margin   On July 23rd, 2021 the whole world watched as the athletes of the Tokyo 2020 Olympic Games made their entrance in the opening ceremony amid the theme songs from some of the most popular Japanese game titles. It was a shame that Japan’s largest video game company Nintendo did not have any of...
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Investment Summary High Prosperity of Premium Cars Continued, with the Greatly Increased 2021H Result YoY and the Earning of 60% More Zhongsheng issued the interim results of 2021, reporting RMB87.36 billion in revenue, up 50.1% yoy; the net profit attributable to the parent company stood at RMB3.7 billion, up 61% yoy, with an EPS of RMB1.609. The main reasons of the increase in H1 are 1) The gross margin of new car sales increased due to the increase in the...
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