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广发证券：关注电影院线板块在春节档行情左侧的布局机会

GF Securities: Focus on the layout opportunities of the cinema line sector on the left side of the Spring Festival market

Moomoo 24/7 ·  Jan 10 18:26
According to the January 11 research report of GF Securities, the 2023 box office exceeded market expectations. According to Tuopu, the national box office for movies including service fees was 54.9 billion yuan in 2023, an increase of 83% over the previous year, and a decrease of 14% over 2019. Split distribution has been launched, and opportunities and challenges coexist. We judge that this year's content approval policy will remain relaxed. The number of film filing projects increased dramatically over the same period last year. Coupled with the implementation of “split distribution” to create screening space for small to medium sized films, the supply of content is expected to be further enriched, driving a recovery in the frequency of watching movies during the off-season schedule. It is expected that in 2024, China's film market will continue to grow. The box office is expected to reach 552-63.2 billion yuan, an increase of 1%-15% over the previous year. Pay attention to the layout opportunities of the cinema line sector on the left side of the Spring Festival market.
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