HK Stock Market Move | MAOYAN ENT (01896) rose more than 3% in early trading. Citigroup has started observing the company's upward trend and has raised the first half ticket sales forecast for this year.

MAOYAN ENT(01896) rose more than 3% in the morning session, rising to 3.41% as of the time of writing, at 7.58 Hong Kong dollars, with a turnover of 25.7594 million Hong Kong dollars. Citi Research released a report stating that they maintain a "buy" rating on MAOYAN ENT, with a target price of 10.8 Hong Kong dollars, up from 9.2 Hong Kong dollars, and view Maoyan Pictures as a quality investment target in the film industry. The report points out that there are several reasons for observing the catalyst for MAOYAN ENT's 30-day uptrend: Firstly, the market's expectation for the box office in the first half of 2025 poses an upward risk, with the bank predicting a box office of 33 billion RMB, while the market expectation is 26 billion RMB, reflecting the strong performance of "Ne Zha 2" and Maoyan Pictures' "Detective Chinatown 1900". Secondly, the company is expected to announce its performance for the 2024 fiscal year at the end of March, and the management is expected to have a positive outlook for the first half of this year. Based on the latest box office performance, the bank has raised its forecast for the first half of this year to 55.5 billion RMB, and points out that the company's current valuation is attractive. Thirdly, the current valuation adjusted for the current fiscal year's earnings per share is 8 times, which still has significant room for improvement compared to historical low double-digit multiples. Finally, the film lineup for the 2025 fiscal year is performing well, including "She Has No Name."