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The world's first blockchain game,Why does the "screen swiping" digital summit of education meta universe say that this is an investment opportunity for Netdragon

Time : 07/08/2021 Author : 48vjc3 Click : + -
        App learned that recently, Netdragon (00777) participated in the fifth digital China Construction Summit, displaying nearly 20 products and the overall service plan of digital education, including the virtual experiment of primary and secondary schools in the central audio visual education Museum and the meta universe co creation laboratory. In addition, Netdragon has created a special zone for education metauniverse, which shows visitors the cutting-edge technologies and related products related to metauniverse. It is understood that this participation is the fifth consecutive year that Netdragon has deeply participated in this digital event as an important partner of the summit. The company's Huayu education focused on displaying a variety of meta universe products at the booth of hall 5. Among them, the highly realistic "digital Homo sapiens", the "face changing face catching technology" experience version that can change at any time, and the immersive VR "meta interview" that can break through the space constraints have attracted the attention of various multimedia and investors.
        In an interview with the media, the management of the company said that the purpose of building the "education meta universe" is to achieve the goal of "everyone can learn, everywhere and always", and finally build a global lifelong learning community. In the field of education, Netdragon has been laying out the digitalization of educational content and resources, the virtualization of teaching experience and teaching process, and has sufficient foundation and advantages to develop the "educational meta universe". The company has made rapid progress in the research and development of educational metauniverse products, which has boosted the continuous high growth of educational business. In fact, in addition to the education business, the company's game products are also increasing the layout of the "meta universe field". The layout of the "meta universe" has been fully launched, and its market value will also usher in a revaluation opportunity.
        Netdragon is a leading game manufacturer in China, with more than 20 years of operation experience. It entered the education industry in 2010. At present, it has formed a dual core main business of "game + education", which jointly drives the revenue to grow at a compound growth rate of 16.1% in the past five years. In 2021, the revenue of game and education business was 3.64 billion yuan and 3.23 billion yuan, accounting for 51.7% and 45.9% of the total revenue respectively. In order to fully embrace the new opportunities in the era of metauniverse, the company's two core business lines are actively deploying metauniverse related businesses. "Education meta universe" is the company's heavyweight project. At the end of January this year, it held the 2022 Spring Festival Media Forum and Huayu education meta universe Strategy Conference, presenting the preliminary form of its education meta universe products, which was unveiled again at the recent fifth digital China Construction Summit. The difference is that this time, the products are richer, the technology is more advanced, and the experience effect is more realistic, such as the introduction of the image of digital Homo sapiens, It reflects the strong R & D advantages of the company.
        The domestic operation carrier of Netdragon education business is Huayu education. Huayu education has built a massive content resource library of 3D materials, and the developed AI courseware has covered the main disciplines of primary and junior high schools in China. The installed capacity of its teaching software "101 education ppt" is nearly 10 million. The virtual experimental teaching service system that the company cooperates with the central audiovisual education center has successfully completed the national layout, covering more than 10000 schools in 31 provinces across the country so far. The overseas operation carrier is Prometheus, which has maintained a leading position in the global interactive tablet market all the year round and has a leading market share in many countries. Recently, it signed a cooperation with the Egyptian government to provide 94000 Prometheus interactive tablets to K-12 schools across Egypt, and will realize the large-scale application of online learning platform edmodo in Egypt.
        From intellectualization to digitalization, the interactive tablet is an indispensable intelligent hardware, and the market demand is relatively rigid. As the main source of tourists is schools, there is no shortage of scene markets for the application of "meta universe" at home and abroad. The management of the company said that most of its educational and teaching products can be summarized into the category of educational meta universe, such as the central library virtual experiment, which uses advanced technologies such as 3D, VR and AI to highly restore the detailed process of physics, chemistry and biology experiments, so that students can complete experiments vividly, realistically, safely and efficiently in the virtual world. The market and technology are well paved. It is very easy for Netdragon to commercialize the "education meta universe", and its contribution to performance through the supporting sale of software and hardware will also be subversive.
        Of course, we should also pay attention to the action of its game "metauniverse" when we see the R & D achievements of the company's education "metauniverse". The company has more than 20 years of R & D and operation experience in the game field. Its customer base is all over the world, and the game metauniverse does not lack the user market. Netdragon's game business has contributed to its core revenue and profits in previous years, and is the most important supporting business. With a strong game product matrix and overseas market strategy, paying users have increased year by year, while its performance has maintained a steady growth every year, with a compound growth of 21.5% in revenue in the past five years. The company has a number of popular game products, including "magic land" and "Conquest", which contribute to the core stream, and the two-dimensional mobile game "final vow", which was just launched last year.
        The company's game products maintain vitality. On the one hand, the game content is constantly updated and the playing method is innovative, and it continues to build new IP and enrich the product matrix; On the other hand, we actively explore overseas markets. Among them, conquest expanded the Egyptian model to new markets such as the United States, Canada and Saudi Arabia in 2021. The final pledge has also signed cooperation agreements with world-renowned 3A game publishers, and will launch overseas versions in many countries. Under the product and market strategy, the company continues to consolidate its market share at home and abroad, while driving the sustained growth of its business. In fact, there has been a case of Netdragon game "metauniverse". In the 2021 financial report, the company disclosed its famous overseas IP Neo pet, began planning the first blockchain metauniverse game, and plans to release a closed beta version in the second half of 2022. At this summit, the management also revealed to the media that it will explore the product technology related to reserve metauniverse, so as to seize the initiative of industrial development.
        Education meta universe mainly focuses on the process of virtualization and digitization of the real world, which requires a lot of transformation of content production, user experience and physical world content, while game meta universe has different focuses, more importantly, the "reality" of the virtual world, which can be perceived and have a better immersive experience. In contrast, at this stage, it is easier to realize the application and wide popularization of the meta universe of education. In January this year, the State Council issued the "14th five year plan for the development of digital economy", which proposed to pay attention to the development of digital economy and further promote smart education. The national education work conference held at the same time also proposed the implementation of the national education digitalization strategy.
        At present, there are very few practical cases of metauniverse in the field of education. Netdragon is the first technology enterprise to apply metauniverse technology to the field of education. After the full commercialization is accelerated, it is expected that it will also receive strong support from the regulatory authorities in the policy environment, driving its rapid market share coverage. The competition of game metauniverse is relatively fierce. Major game manufacturers basically attack metauniverse products with a high profile, but there are no substantive results. For Netdragon, on the basis of consolidating the current market advantage and maintaining strong cash flow, it can gradually evolve to the field of metauniverse. The commercialization expectation of the above two core businesses "metauniverse" changes the performance expectation of the company, thus changing the future valuation level.
        For investors, another outstanding advantage of Netdragon is its financial stability and high rate of return. Roe has been stable at more than 15% all year round, and its financial leverage is extremely low, with little pressure on interest bearing liabilities. In addition, the dividend payout of the company has reached a record high in the past few years. The annual dividend in 2021 increased by three times compared with that in 2018, with a compound annual dividend growth rate of 47.6%. This advantage has also become a relatively large chip for the company to attract investors. Under the performance expectation, the valuation of Netdragon is significantly underestimated. At present, the Pb value is 0.95 times, and the PE (TTM) is 6.6 times. It is underestimated vertically compared with the future, and it is also underestimated horizontally compared with peers (games or education informatization sector).
        Based on the influence of the market and sectors, the stock price range of Netdragon has been consolidated for three years, but the increase is still obvious in the past ten years. This year is the first year of the company's layout of metauniverse, and it is likely that the trend upward direction will be determined.
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