Plan to raise 300 million yuan in the IP resource construction project 'Pig Man' bravely break into A shares

Recently, the parent company of this animation IP, Guangdong Yongsheng Animation Co., Ltd. (hereinafter referred to as Yongsheng Animation) updated its prospectus. According to the prospectus, Yongsheng Animation will hit the GEM listing and plan to raise 300 million yuan, mainly for IP resource construction projects. Yongsheng Animation takes IP as its core and is committed to creating a large animation ecosystem. The main business covers animation production, film and television publicity, stage performance, theme parks, IP authorization, toy development and distribution and other diversified sectors. At present, Yongsheng Animation has successfully created many well-known original IPs such as Pig Man, Crazy Candy, Variety School Bus, Nuclear Crystal Youth, and Funny Didi. In 2016, Yongsheng Animation was listed on the New Third Board, and in July this year, Yongsheng Animation publicly announced its prospectus and plans to list on the Shenzhen Growth Enterprise Market. ▋Yingsheng Animation’s revenue in the first half of the year was 58 million yuan. This time, when Yongsheng Animation updated its prospectus, it also supplemented its performance in the first half of this year. The data shows that from January to June 2020, Yongsheng Animation achieved a total operating income of 57,785,800 yuan, and the net profit attributable to the owners of the parent company was 4,304,400 yuan. According to the prospectus, from 2017 to 2019, Yongsheng Animation realized operating income of 152.5867 million, 19,710,700 and 19,421,100 respectively; net profits were 26,675,900, 58.274 million and 43,67,200 respectively. In the past six months, Yongsheng Animation achieved revenue of 57,785,800 yuan in the first half of 2020, which can be said to be one-third of the full year of 2019. In addition, the company’s animation, TV and movie business revenues accounted for a decline, and animation derivative business revenues accounted for an increase. This was mainly due to the fact that most of the TV animations will be released in the second half of the year according to the 2020 TV animation business distribution plan, resulting in animation and TV movies in the first half It is caused by the decline in the proportion of business income. ▋Pig Man IP series accounted for the company’s main revenue, Pig Man. This IP was developed in 2004. Since 2006, the first season of Pig Man 'Magic Pig Man' was launched. So far, a total of 33 Pig Man series TVs have been launched. Animation. From the perspective of revenue contribution, from 2017 to 2019, Pigman’s IP made outstanding contributions to Yongsheng Animation. The revenue of the past three years was 144.9573 million yuan, 1406513 million yuan, and 138.9034 million yuan, accounting for the income of the year. The proportions were 95.00%, 70.43% and 71.56% respectively. In addition, in the first half of 2020, Pig Man contributed 30.526 million yuan in revenue to the company, accounting for 52.83%. From the perspective of revenue share, the operating revenue share of Pigman’s IP has decreased significantly since 2018. This is mainly because the company continues to strengthen creative research on new IP, such as the launch of Nuclear Crystal Junior IP and Variety School Bus IP. Become the company's new profit growth point. In the first half of 2020, according to the annual TV animation business distribution plan, regular pig-man movies will be released in the second half of the year, so the revenue share in the first half of the year has declined. In addition, it is worth noting that the top five distributors of Pigman in the first half of 2020 are Nanjing Baolihua Trading Co., Ltd., Kidswant, MINISO, Gaia Corporation Co. Ltd in South Korea, and Linyi in the Shandong market. Mould Children's Products Co., Ltd. During the reporting period, the gross profit margin of the company’s distribution model was lower than the average gross profit margin of the above-mentioned toy business companies in the same industry, mainly because the company’s animation toy business is mainly produced through OEM methods. The company purchases toy products from OEM suppliers and sells them to the outside world. , And the toy business of the above companies in the same industry involves toy production and manufacturing. On January 14, 2021, the Young Prosperity·2020 Future Maternal and Infant Conference and the 6th Cherry Awards Annual Ceremony hosted by Maternal and Child Industry Observation Live broadcast and short video, private domain traffic, digital transformation and other keywords are shared. At the same time, the 13 major categories of maternal and child power lists, such as toys and IP, will be released at the same time, waiting for you to unveil the list together!