China's Maoyan Entertainment H1 revenue falls on box office slump

Maoyan Entertainment

20/08/2026 13:21

Overview
China film promoter's interim revenue for H1 2026 declined 28% yr/yr
Gross profit and adjusted net profit fell sharply compared to prior year period
Company attributed declines to lower nationwide box office and moviegoer numbers

Outlook
Company highlights a rich pipeline of films scheduled for release as opportunities arise
Company says national box office shows signs of recovery during summer movie season
Company continues to invest in offline performance and new businesses to strengthen competitiveness
Company said online entertainment ticketing will serve concerts by Jay Chou, Karry Wang and G.E.M, plus King Pro League esports events in H2

Result Drivers
WEAK BOX OFFICE - Co said revenue and profits fell due to a sharp decline in nationwide box office and moviegoer numbers
 TICKETING VOLUMES – Online ticketing revenue fell as mainland box office declined 40.6% and moviegoers dropped 34.3% yr/yr
FIXED-COST LEVERAGE – Gross margin fell to 31.3% from 37.9% as costs did not decline proportionately with revenue

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 1.79 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the entertainment production peer group is "buy"
Wall Street's median 12-month price target for Maoyan Entertainment is HK$6.80, about 54.9% above its August 20 closing price of HK$4.39
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 10 three months ago

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Aug 20 - Belgium's Kinepolis H1 revenue jumps to record as Emagine deal boosts admissions

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)