The Zhitong Finance App learned that movie concept stocks continued to decline. As of press release, Maoyan Entertainment (01896) fell 4.73% to HK$5.84; China's Ruyi (00136) fell 4.57% to HK$5.85; Huanxi Media (01003) fell 1.85% to HK$0.53; IMAX China (01970) fell 0.77% to HK$7.77.

Changjiang Securities pointed out that the 2024 summer box office performance was lackluster. The total box office and number of movie viewers all declined year-on-year, and ticket prices and total number of new movies were relatively stable. The total box office for the 2024 summer program was 11.643 billion yuan, falling back to 7th place in film history, down 43.5% from 2023 and 34.5% from 2019. The bank pointed out that the Mid-Autumn Festival and National Day programs have been scheduled one after another, and there are many types of movies to reserve for subsequent key periods. It is expected that as demand for movie viewing recovers further, movie box office is expected to continue to grow. It is recommended to pay attention to the performance of future scheduled films.

Citi previously released a research report saying that the disappointing mid-term results of Maogan Entertainment once again showed that the performance of the entertainment business was less visible. The bank pointed out that in the second half of the year, box office fell further by 38% and 53% in July and August, lowering this year's box office forecast from 55 billion yuan to 45.5 billion yuan. While the box office is weak, Maogan Entertainment's financial situation will continue to face challenges, but the Group's enhanced position in the ticketing business and continued leadership in film distribution will help it overcome the difficulties.