HK Stock Market Move | MAOYAN ENT (01896) shares fell over 4% after the earnings announcement. The movie market experienced a deep adjustment in the first half of the year, dragging the company's performance into a loss.

MAOYAN ENT (01896) fell over 4% after releasing its performance results, and as of this writing, it is down 4.41%, trading at HKD 4.23, with a transaction volume of HKD 31.1081 million. In terms of news, MAOYAN ENT published its interim results. During the period, it achieved revenue of 1.79 billion yuan, a year-on-year decrease of 27.6%; a net loss of 28.7 million yuan, reversing from profit to loss. The company was involved in the promotion/production of 38 films, controlling the distribution of 28 films, both of which set historic highs for the same period. China Securities Co., Ltd. released a research report stating that the deep adjustment in the film market has dragged down the company's performance into a loss. In the first half of the year, national box office revenue decreased by 40.6% year-on-year, affecting all three major business segments of the company, which resulted in pressured gross margins and a turnaround to net losses. However, new business continues to progress steadily. The main focus going forward will be on the year-end "Avengers 5" and the Chinese New Year box office next year to help revive the film market; as well as the sales situation in the IP business.