移动版

Oriental Pearl Alert:dbAccess Asia Conference 2016Highlights

发布时间:2016-05-26    研究机构:德意志银行

Management of Shanghai Oriental Pearl attended our Access Asia conference;the following are the key highlights.

IPTV’s growth potentials resume. Management explained that there hasbeen a change in strategy in 2016. Originally, it has been industryconsensus that IPTV’s size will shrink and thus its focus in 2015 has beenon developing internet TV and other businesses while managementexpects IPTV to shrink. However, it noticed that it still has potential andthus it continues to grow this business. In 1Q2016, IPTV’s ARPU especiallyfor the value-added business continued to grow.

Investing in content – leveraging assets from its parent company andDragon TV. In 2016, it will increase its content investment. However,management noticed that instead of buying content copyright, it shouldincrease its content production like drama, entertainment and varietyshows. In its restructuring, it has a movie and content production company.In addition, it can leverage on SMG and Dragon TV’s resources andengage in co-production of content.

Business plan to cater for new regulatory environment – more to sharewith investors in 2H16. With the Regulation No. 6 released on early May,management explained that it touched on 3 areas namely contentproviders, distributors and platform players. It believes the IPTVdevelopment has more clarity than others. Thus, it will continue to workwith China Telecom and explore opportunity with China Unicom and, inthe future, China Mobile (when they receive an IPTV license). As forinternet TV and mobile TV segments, management is still evaluating thechanges required by new regulations. With new management on board,management will share further details with investors about its businessplan in 2H2016.

申请时请注明股票名称