HK Stock Market Move | MAOYAN ENT(01896) fell nearly 6% in the final trading session, limited supply of quality movies, box office has been consistently lower than expected since the summer blockbuster season.

Maoyan Entertainment (01896) fell nearly 6% in the final trading session, falling 5.61% to HK$7.91 as of press time, with a turnover of HK$264.38 million. China Great Wall pointed out that due to the lack of high-quality blockbuster content online, the number of blockbuster films has significantly decreased, leading to the continuous underperformance of China's box office since the summer season, with the total box office for the summer season reaching 11.643 billion yuan, a year-on-year decrease of 43.5%; total audience attendance decreased by 43.5% year-on-year; the box office for the National Day season reached 2.104 billion yuan, a year-on-year decrease of 23%; total audience attendance decreased by 20% year-on-year. The bank stated that the box office performance in the second half of 24 is below expectations, and is looking forward to the performance of top content in 25. Founder Securities pointed out that due to the insufficient supply of high-quality films, the box office for 24 is expected to form a low base, increasing market attention to the 25 film market. Huachuang Securities also pointed out that the 25 film market is expected to enter a new cycle of products, optimistic about industry recovery, optimistic about the continued advantages of Maoyan Entertainment's related businesses, and expected to recover quickly with the market; at the same time, live performance ticketing is expected to contribute to the second growth curve.