HK Stock Market Move | MAOYAN ENT (01896) dropped by over 3%. Last year, the online movie ticketing business was under pressure along with the overall market, leading to a year-on-year forecasted decrease in net profit of over 78%.

MAOYAN ENT (01896) dropped more than 3%, as of the time of writing, it fell 3.23% to HK$7.5, with a trading volume of HK$48.3282 million. In terms of news, MAOYAN ENT issued a profit warning, expecting revenue of approximately RMB 4.05 billion to RMB 4.15 billion for the fiscal year 2024, a decrease of about 12.8% to 14.9% year-on-year; net profit attributable to owners is expected to be approximately RMB 150 million to RMB 200 million, a decrease of about 78.0% to 83.5% year-on-year. The company stated that the total box office of national films in 2024 was RMB 42.502 billion, a decrease of 22.6% from 2023; the audience size was 1.01 billion, a decrease of 22.3%. Especially in the second half of 2024, including the summer and National Day box office, the total box office of national films decreased by 35.1%; the group's online movie ticketing business was also adversely affected as a result.