Financial News Agency, December 29 (Editor Hu Jiarong) Stimulated by the positive New Year's Day holiday, most Hong Kong movie stocks strengthened. As of press time, Maoyan Entertainment (01896.hk), imax China (01970.hk), and Alibaba Pictures (01060.hk) have increased by 2.99%, 2.73%, and 2.13% respectively.
Note: In terms of movie stock performance
news, according to Beacon Professional Edition data, as of 0:34 on December 29, the total pre-sale box office of new films on New Year's Day in 2024 exceeded 500 million yuan. Among them, "Twinkle Twinkle Star" and "The Annual Party Can't Stop!" ""Stealth" ranked among the top three in total box office during the period.
As the last long-term period of the year in the film market, the Lunar New Year period includes Christmas, New Year's Eve and other small periods, and its strength cannot be underestimated. Judging from past results, the Lunar New Year period has achieved box office results of more than 4 billion yuan many times, and in 2017 it reached 5.6 billion yuan, the best result in history. In addition, the Lunar New Year period from 2020 to 2022 achieved box office results of 4.166 billion yuan, 3.068 billion yuan, and 1.648 billion yuan respectively.
Take "Twinkle Twinkle Star" as an example. As of today, the film's combined box office (including pre-sales) has reached 341 million yuan.
Morgan Stanley pointed out in a previous research report that the mainland movie box office will increase by 93% year-on-year to 58 billion yuan this year, and will increase by 11% to 64 billion yuan next year, fully recovering to pre-epidemic levels. According to the research report, the following reasons promote the growth of movie box office.
First, economic recovery drives consumption growth. As China's economy continues to recover, residents' income and consumption willingness continue to increase, providing a good environment for the development of the film industry.
Secondly, there is a sufficient supply of high-quality videos. This year’s summer season and Mid-Autumn Festival and National Day season both achieved good box office results, and many films were recognized by audiences.
The film market has picked up one after another since this year.
In fact, the film market has rebounded significantly this year. Starting from "She Disappeared", we have successively launched two works that have a box office of more than 3.5 billion and more than 2 billion. The total box office for the period has reached more than 20 billion. It can be said that the box office continues to be a hit and the industry development momentum is gratifying. This move caused the share prices of some related stocks to rise sharply.
Note: The trend of Maoyan Entertainment
Taking Maoyan Entertainment as an example, the company’s stock price rose by an astonishing 79.63% from June to September. The company mainly provides four major services. Online entertainment ticketing services mainly provide ticketing services for a wide range of entertainment forms such as movies and live entertainment.
Citigroup released a research report saying that the bank reiterated the "buy" rating of Maoyan Entertainment and raised the target price from HK$18 to HK$20. Citigroup believes that Maoyan Entertainment will participate in 13 to 17 movies as a major distributor in the second half of the year, including four movies including "The Party Can't Stop", "Goldfinger", and "Twinkle, Twinkle, Twinkle", scheduled to be released on December 30 Released. They also pointed out that the company is the leading online movie ticketing platform in China, has strong traffic and channel advantages, and is expected to achieve greater development in the recovery of the movie industry.
(Financial Associated Press Hu Jiarong)
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