share_log

光大证券:维持猫眼娱乐(01896)“买入”评级 主控发行及出品影片票房表现亮眼

Everbright Securities: Maintaining the “Buy” rating of Maoyan Entertainment (01896), the box office performance of the main control distribution and production of videos is impressive

Zhitong Finance ·  Mar 29 16:15

Everbright Securities lowered the 24-25 revenue forecast for Maoyan Entertainment (01896) to $49/5.3 billion.

The Zhitong Finance App learned that Everbright Securities released a research report stating that it maintained the “buy” rating of Maogan Entertainment (01896) and considering the insufficient supply of films in 24, lowered the 24-25 revenue forecast to 49/5.3 billion yuan based on conservative forecasts for the film and television market, and added a 26-year revenue forecast of 5.7 billion yuan. Considering the continued improvement in operating efficiency, the 24-25 net profit forecast was slightly raised to 94/1.04 billion yuan, and an additional 26-year net profit forecast of 1.2 billion yuan was added. As a leading movie ticketing company, the company has fully benefited from the growth of the movie box office, and the box office performance of the main controlled distribution and production of films has been outstanding.

According to the report, data from the National Film Administration shows that in '23, the total box office of national films reached 54.9 billion yuan, an increase of 82.6% over the previous year. The annual box office of domestic films was 46 billion yuan, a record high. The offline performance market is also heating up rapidly. According to the “2023 National Performance Market Development Report”, the national performance box office revenue in '23 was 50.2 billion yuan, an increase of 150.7% compared with '19. The company's online entertainment ticketing revenue was 2,259 million yuan (yoy +111.5%), accounting for 47.5% of total revenue. Movie ticketing maintains a leading position in the market, deeply explores the cinema scene, and continues to consolidate ticketing service capabilities; in the performance ticketing business, the company vigorously promoted leading performing arts cooperation, became the general ticketing agent for some concerts by leading artists such as Zhang Xueyou and Jay Chou, and expanded various entertainment segments such as sporting events, e-sports events, and immersive theaters. The total revenue of the company's offline performances and GMV all reached record highs in the same period in history.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment