Contemporary Mingcheng (600136): 2022 World Progress and Expansion Company Benefits Sports Business Significantly

Contemporary Mingcheng (600136): 2022 World Progress and Expansion Company Benefits Sports Business Significantly

Event: FIFA discusses measures to expand the 2022 World Cup in an antique guide in Miami.

The expansion of the 2022 World Cup will benefit the development of the sports industry.

In an interview, FIFA President Gianni Infantino said that their respective feedback was more positive and the plan could be implemented.

I have always been happy, but especially today because we have made some important decisions.

We concluded that yes, as long as certain conditions are met, it is feasible to increase from 32 to 48 teams in the World Cup.

It is our responsibility to consider that 90% of people are in favour of fare increases, but this is not so easy.

We must analyze the issue carefully and we are working closely with Qatar.

“-Inventino said.

We believe that the Chinese national team and the Chinese sports industry are important beneficiaries of the expansion of the 2022 World Cup.

1) The FIFA score of 90% of the participants indicated that the internal variables of FIFA have been basically eliminated; 2) If the expansion plan is successfully implemented, the allocation of places in Asia will be 4

5 increased to 8.

5 (refer to the 2026 World Cup quota allocation plan), and the Chinese team currently ranks 8th in the Asian region, which is the most beneficial team.

3) With reference to Japan and South Korea, the history of the development of the sports industry in the United States (especially the football industry) has been significantly affected by the World Cup.

Basically for participation / match World Cup → unprecedented attention of the whole society → formation of sports soil → sports industry outbreak, the effect may be more significant in the context of already having a large range of fans in China.

Asia is an important football area, and companies are the ones that benefit the most.

At present, the rapid development of Asian football has become an indispensable emerging force in international football.

From the perspective of the World Cup quota allocation, FIFA’s understanding of the Asian region is self-evident (a quarter of the new quota is allocated to Asia).

We believe that the transformation of Asian football’s professionalization will continue to increase, and the enthusiasm of football in the whole society will gradually rise. Asian football will develop rapidly in the next 5-10 years.

Contemporary Mingcheng owns the exclusive global commercial rights of AFC in 2021-2028, including the highest level of football in the Asian region, and will fully enjoy the golden age of the development of Asian football.

Profit forecast and rating.

The company’s EPS for 2018-2020武汉夜网论坛 is expected to be 0.

40 yuan, 0.

61 yuan, 0.

77 yuan.

We continue to be bullish on the company’s future development and maintain a “Buy” rating.

Risk Warning: The risk of major changes in sports policy, the risk of business integration or lower than expected, the risk of event copyright acquisition or lower than expected, the risk of upward financing costs, and the risk of M & A project operation or lower than expected.