HK Stock Market Move | DAMAI ENT (01060) rises more than 16% with the movie "Love Letter to Grandma" continuing to ferment in popularity. The box office has exceeded 500 million yuan.

DAMAI ENT (01060) rose more than 16%, as of the time of writing, up 16.67%, at HK$0.77, with a turnover of HK$2.31 billion. On the news front, recently, a movie called "Love Letters to Grandma", with a production cost of only RMB 14 million, featuring all amateur actors and using the Teochew dialect throughout the film, has been gaining popularity. According to Maoyan Professional Edition data, as of the evening of May 17, the film "Love Letters to Grandma" has broken 1 billion in single-day box office for two consecutive days during the Labor Day holiday, with a total box office (including presales) exceeding RMB 500 million since its release. Maoyan Professional Edition's latest prediction is that "Love Letters to Grandma" is expected to reach a total box office of RMB 14 billion. It is reported that the co-producers of the film include Beijing DAMAI ENT Culture Limited Company. In addition, DAMAI ENT recently announced that it expects to record a net profit attributable to the company's owners of not less than RMB 700 million for the 12 months ended March 31, 2026, compared to about RMB 364 million in the same period last year. Goldman Sachs Research Report pointed out that DAMAI ENT will announce its performance in late May, and the bank expects the company's core business (IP and ticket revenue) and profits for the fiscal year 2026 to 2027 to each achieve a steady growth of 25%, while the losses in the film business will narrow and the profit margin will remain stable.