Swiss roll in the front and smoked chicken in the back. In the Mango TV variety show "Goodbye Lover 4", the guest Mai Lin attracted the attention of netizens. What also attracted everyone's attention was the smoked chicken that she still had to buy in the express serv

There is a Swiss roll in the front and smoked chicken in the back.

In the Mango TV variety show "Goodbye Lover 4", the guest Mai Lin attracted the attention of netizens. What was also noticed by everyone was the smoked chicken that she still had to buy in the express service area despite limited funds.

"Everyone works overtime to make smoked chicken"

The so-called "smoked chicken incident" is that in this program, Mai Lin had to spend 140 yuan to buy two smoked chickens in the express service area despite limited funds. Netizens have been discussing "What does smoked chicken taste like?" and greedy girls and boys have already flocked to online stores.

In this wave of wealth, the main producer is Inner Mongolia Zhang Jintao Smoked Chicken Co., Ltd. On the e-commerce platform, the smoked chicken products in the brand's flagship store have been marked with the words "Goodbye Lover Maimai Smoked Chicken". As of press time, the sales volume of across the entire network has exceeded 10,000.

"v Guan Financial Report" asked the customer service of the flagship store. The relevant staff said that Mailin bought the fresh-keeping packaging in the (high-speed) service area and the online one was in vacuum packaging. The staff member also said that there are many people buying (smoked chicken), "Several products have been taken off the shelves, and there is no time to make them; now everyone is working overtime to make smoked chicken."

Source: Taobao platform Zhang Jintao Smoked Chicken Flagship Store

"v Guan Financial Report" checked the Tianyancha app and found that Inner Mongolia Zhang Jintao Smoked Chicken Co., Ltd. was established in October 2016. Its registered address is located in Zhuozi County, Ulanqab City, Inner Mongolia, with a registered capital of 8 million yuan. , the legal representative is Zhang Jintao, who is wholly-owned and its business scope is the processing and sales of smoked chicken, smoked meat products, fried chicken, burgers, and French fries.

Currently, the company has registered multiple "Zhang Jintao Smoked Chicken" trademarks.

Source: Tianyancha app

Variety show playback volume increased

"Goodbye Lover 4" is a marriage documentary observation reality show. Since its broadcast on Mango TV on October 17, 2024, it has been a hotly searched "frequent user" "Mango Super Media, an A-share listed company, also achieved a "good start" in the fourth quarter.

On the evening of October 25 this year, Mango Super Media released its third quarter report for 2024. In the first three quarters, the company achieved operating income of 10.278 billion yuan, a year-on-year decrease of 0.85%; net profit attributable to owners of the parent company was 1.444 billion yuan, a year-on-year decrease of 18.96%; basic earnings per share was 0.77 yuan, a year-on-year decrease of 18.95%. Regarding the decline in net profit, Mango Super Media stated that affected by changes in preferential corporate income tax policies, it was confirmed that income tax expenses increased by approximately 280 million yuan compared with the same period last year.

Looking at a single quarter, Mango Super Media achieved operating income of 3.318 billion yuan in the third quarter, a year-on-year decrease of 7.14%; the net profit attributable to the owners of the parent company was 380 million yuan, a year-on-year decrease of 27.41%.

In the third quarter, Yunhe data showed that Mango TV's entire network had 2.5 billion effective broadcasts of variety shows, a year-on-year increase of 22%. The three programs "Hello, Saturday 2024", "Chinese Restaurant 8" and "Beyond the Troubles 4" performed outstandingly, ranking among the top three programs in Taiwan. In the fourth quarter, Mango TV's popular variety show "Goodbye Lover 4" continued to ignite hot searches, dominating the top 3. of the variety and online variety charts. It will be followed by "Continuous Sound·Hong Kong Philharmonic Season 2", "Girls' Mystery Club 2" and "Time Concert". 4" and "Mango Freshman Class Partner Season" and other key programs also laid the foundation for variety shows.

Mango Super Media’s membership business revenue has maintained strong growth this year. In the first half of the year, the company's members achieved revenue of 2.486 billion yuan, a year-on-year increase of 26.74%, accounting for half of the Internet video business revenue. On October 11 this year, Gong Zhengwen, Secretary of the Party Committee, Chairman, Station Director and Chief Editor of Hunan Radio, Film and Television Group Co., Ltd., introduced at the first China Radio and Television Quality Creation Conference that Hunan Satellite TV maintains full-day coverage in the General Administration of Big Data and Sorifu. Ranked first in ratings, Mango TV ranks first among long-form video platforms in terms of traffic of exclusive variety shows. The number of effective members has exceeded 70 million, an increase of more than 5% compared with 66.53 million at the end of 2023, setting a record high. According to qm data, the number of monthly (August) active users of Mango TV has reached 268 million, ranking among the top three in the long-form video industry.

’s popular variety show “Singer 2024” has become the program with the highest new member recruitment rate on Mango TV this year. During the broadcast of the program, it was played 158.54 billion times across the entire network. The singer ranking "National Prediction" activity realized the first link between online users and the scene, with more than 7.3 million interactive users." Singer 2024" made an outstanding contribution to the overseas downloads of the Mango TV International app, driving the growth of 18.53 million users, breaking the industry's view that "the number of new members gained by variety shows is far less than that of drama series".

In addition, Mango TV has increased its efforts in the research and development of member-customized variety shows. In July, it officially launched a new member variety show brand "Little Fun Variety". It released 11 "Little Fun Variety" variety shows at one time, and now there are more than 10 in total. Douban score is above 9 points.

wind data shows that since the disclosure of the third quarterly report, more than 30 institutions have commented on the performance of Mango Super Media, and more than half of the institutions have given a "buy" rating.

Among them, Centaline Securities believes that the company's performance will be greatly affected by changes in tax policies, and the profit side will be under pressure. However, on the other hand, the company can continue to produce top programs on the content side, especially in the field of variety shows, through output The content effectively drives the company’s membership business to grow rapidly. The company's EPS is expected to be 0.97 yuan, 1.12 yuan, and 1.21 yuan from 2024 to 2026. Based on the closing price of 26.80 yuan on October 25, the corresponding pe is 27.35 times, 23.82 times, and 21.90 times. Maintain "Buy" investment rating.

CITIC Securities believes that the number of members of the company has exceeded 70 million in the third quarter, and the influence of leading variety shows has continued to increase, with many of them entering the top 3 in terms of effective broadcast volume. In the long term, the company insists on "practicing hard work" in content investment. At the end of the third quarter, intangible assets were 8.504 billion yuan, a year-on-year increase of 11%. Intangible assets amortization in the first half of the year was 2.825 billion yuan, a year-on-year increase of 15%. It will have an impact on profit margins in the short term, but in the long term it will enhance drama capabilities, thereby driving membership growth. It is expected that the company will achieve net profits attributable to the parent company of 1.75 billion yuan, 2.03 billion yuan, and 2.28 billion yuan from 2024 to 2026, with year-on-year growth of -50.9%, 16.4%, and 12.1%. The latest market value corresponds to the current price-earnings ratio of 27.1 times, 23.2 times, and 20.7 times. times, giving a buy rating.

In addition, China Merchants Securities stated that it maintains a "strongly recommended" investment rating. The company further expands the source of high-quality users through cooperation with channels such as China Mobile and 88vip. At the same time, it strengthens member operations and retention by creating a "pre-broadcast + post-broadcast derivative" matrix of variety shows. The supply of high-quality content is expected to continue to drive the increase in membership and ARPU. The continued launch of flagship variety show IPs and high-quality drama series is expected to support the accelerated recovery of the advertising business. The company continues to be optimistic about the company's commercialization capabilities in the long term. The company's net profits attributable to parent companies from 2024 to 2026 are expected to be 1.81 billion yuan, 2.03 billion yuan, and 2.34 billion yuan respectively, corresponding to price-to-earnings ratios of 26.2 times, 23.3 times, and 20.2 times respectively.

Source: China-Singapore Jingwei