HK Stock Market Move | MAOYAN ENT (01896) Up more than 4%, the company will still release a variety of films this year, institutions have high expectations for the box office performance during the Spring Festival.

MAOYAN ENT(01896) rose more than 4%, rising 4.47% as of the time of publication to HK$7.72, with a turnover of HK$16.3319 million. On the news front, according to data from the Maoyan professional edition, 6 movies have been scheduled for the 2025 Chinese New Year box office, with a total "want to watch" count exceeding 3 million. "Detective Tang 1900", "Ne Zha: Demon Child Sea Trouble", and "The Legend of the Condor Heroes: The Great Heroes" are the top three on the Maoyan "want to watch" list for the Chinese New Year box office. EB SECURITIES pointed out that the performance outlook for 2024 is under pressure, but they are optimistic about the box office performance in the 2025 Chinese New Year box office. The company released 35 main films in 2024, and the number of main releases in 2025 is expected to further increase to 40+. The box office forecast for individual films is highly uncertain, so it is recommended to focus on the box office performance of the company's reserve films. In the 2025 Chinese New Year box office, attention will be focused on "Detective Tang 1900", as the opening day of "Detective Tang 3" during the Chinese New Year box office exceeded 1 billion, confirming its popularity; "Detective Tang 1900" with its all-star lineup and comedic attributes is expected to stimulate the demand for family entertainment. Citibank indicates that the company may have passed its worst time, and as the largest movie ticketing platform, it is expected to benefit from a better movie supply this year, with a rich lineup of films still to be released. The next catalyst will be the Lunar New Year holiday schedule. The bank predicts that the total mainland box office in 2025 will reach 50 billion RMB, an increase of 18% year-on-year. The bank raised MAOYAN ENT's target price by 2.2%, from HK$9 to HK$9.2, and listed it as the top choice in the film industry, with a "buy" rating. The company's revenue forecast for 2025 to 2026 has been raised by 2% to 3%; adjusted net profit has been raised by 5% to 9%.