HK Stock Market Move | ALI PICTURES (01060) rose more than 5% in intraday trading. The performance of the Spring Festival box office may exceed expectations. Ali Fish, a subsidiary, is expected to benefit from the expansion of BLOKSIP.

ALI PICTURES (01060) rose by more than 5% during trading, rising 3.03% to HK $0.51 by the time of publication, with a trading volume of 28.5987 million Hong Kong dollars. On the news front, according to Lighthouse Professional Edition data, the total box office revenue of the national film market in 2024 was 42.622 billion yuan, a year-on-year decrease of 22.13%; with 1.013 billion viewers, a year-on-year decrease of 22.02%. Central China stated that they are closely monitoring the performance of the 2025 Spring Festival box office. The overall quality of films during the Spring Festival box office period is at a relatively high level throughout the year, and the movie subsidies in many regions can cover the Spring Festival box office, helping to further stimulate audience flow to cinemas and unleash the potential of movie consumption. If the box office performance during the Spring Festival exceeds expectations, it is expected to drive the performance repair and valuation rebound of the film and television sector. EB SECURITIES pointed out that BLOKS is popular in the market, indicating optimism about the role-playing toy track; BLOKS has an IP copyright-related collaboration with ALI PICTURES' Alibaba Fish, and Alibaba Fish is expected to benefit from the expansion of IP maps such as BLOKS and the growth of related licensed IP merchandise sales. The bank noted that as the IP derivative product market is buoyant, Alibaba Fish, as a leading IP licensing platform, greatly benefits from downstream IP expansion, coupled with the listing of BLOKS set to further boost the company's valuation.