China Film Holdings ic data chart
China Film’s revenue and net profit both dropped in the first quarter.
html On April 29, China Film Co., Ltd. (China Film, 600977.sh) released its first quarter financial report. The report showed that China Film’s revenue was 1.026 billion yuan, a year-on-year decrease of 28.99%; the net profit attributable to the owners of the parent company was 96.9073 million yuan. Yuan, a year-on-year decrease of 46.66%; basic earnings per share was 0.052 yuan, a year-on-year decrease of 46.39%.
China Films explained in the announcement that the decrease in net profit was mainly due to the impact of the release schedule of the films that the company is the main investor in and controls. During the Spring Festival of 2023, the Chinese film's main-invested and controlled film "The Wandering Earth 2" was released. The related business income was reflected in the first quarter reporting period of 2023. However, in the first quarter of 2024, no main-invested and controlled film with similar box office size was released, resulting in Operating income and net profit declined year-on-year.
public data shows that " The Wandering Earth 2" has a total box office of 4.029 billion, ranking tenth on the box office list in Chinese film history. The box office dark horse " hot hot " during the Spring Festival in 2024 has a total box office of 3.460 billion. The registration unit of "Hot and Spicy" is Xinli Media Co., Ltd., which is also the producer of "Hot and Spicy". Judging from the release notice of "Hot and Spicy", the film involves as many as 30 producers, co-producers, distributors, and co-distributors, including Chinese films.
Looking at the overall situation of the film and television industry, in the first quarter of 2024, the total national movie box office was 16.356 billion yuan, a year-on-year increase of 3.14%, and the total number of moviegoers was 364 million. Among them, the box office of domestic films was 15.044 billion yuan, accounting for 91.98% of the country's total box office; the box office of imported films was 1.312 billion yuan, accounting for 8.02% of the country's total box office. As of the end of the reporting period, the total number of screens nationwide for which box office statistics could be counted was 78,250.
China Film’s main business includes six major sectors: creation, distribution, screening, technology, service, and innovation. From the perspective of segmented business performance, in the creative sector, during the reporting period, China Films led or participated in the production and release of a total of 6 films on the market, with a cumulative box office of 11.337 billion yuan, accounting for 75.36% of the total domestic film box office in the country during the same period. Among them, 4 films produced by China Film including "Hot and Spicy", "Flying Life 2", " Bears Reversal of Time and Space " and "Article 20" have entered the top ten domestic box office films this year. In the
distribution sector, during the reporting period, Chinese Films led or participated in the distribution of 176 domestic films, with a cumulative box office of 11.751 billion yuan, accounting for 89.95% of the total domestic film box office in the same period; a total of 28 imported films were released, with a cumulative box office of 1.052 billion yuan, accounting for 89.95% of the total domestic film box office in the same period. During the same period, imported films accounted for 60.01% of the total box office. In the
screening sector, during the reporting period, China Films opened one new cinema and added six new screens. As of the end of the reporting period, China Film had a total of 128 operating theaters and 964 screens.
In addition, in the technology sector, as of the end of the reporting period, 168 cinity theaters had been opened in China and 276 cinity movies had been released; in the service sector, China Film Base provided production services for a total of 132 film and television works. While
released its financial report, China Film also issued an announcement on the acquisition of equity and related transactions. The announcement showed that in order to expand the rural film and campus film markets and exert industrial synergy, China Film plans to acquire China Film Group (China Film Group) with its own funds. China Film Group Corporation (China Film Group Corporation, the controlling shareholder and actual controller of China Film) holds 100% of the equity of China Film Innovation, and the transaction price was determined to be 68.2296 million yuan based on the asset appraisal results.
It is reported that China Film Innovation, formerly known as China Film New Rural Digital Film Projection Co., Ltd., is a wholly-owned enterprise of China Film Group established in 2008 to strengthen rural cultural construction and implement rural digital film projection projects. China Film stated that under the conditions of independent development, China Film Innovation's operating income in the past two years has mainly come from market-based operations, indicating that its business model has initially taken shape and has certain growth potential. After China Films incorporates China Film Innovation into its operating system, it can coordinate distribution and screening resources with rural markets and campus markets, vigorously improve its professionalism and market competitiveness, and thereby expand incremental market space.
As of the close on the 29th, China Film rose 2.91% to 12.39 yuan per share, with a total market value of 23.132 billion yuan.
