According to Zhitong Finance App News, Maoyan Entertainment (01896) announced the results for the year ended December 31, 2023. The group obtained revenue of 4.757 billion yuan (same unit), an increase of 105.1% year on year; profit attributable to company owners was 910 million yuan, up 765.49% year on year; adjusted EBITDA was 1.25 billion yuan, up 290.4% year on year; basic profit per share was 0.79 yuan.
Against the backdrop of a strong recovery in the industry, the company has seized the opportunity to continue to achieve business breakthroughs and development. Many business and financial indicators have broken through record highs in the same period, continuing to prove the company's excellent level of business development and profitability. During the reporting period, the company's strength continued to improve, and revenue and profit levels surpassed the same period in history. In particular, the business results and financial performance of the entertainment content service sector achieved another breakthrough growth, further improved advertising service capabilities and market coverage, and steady growth in revenue performance for three consecutive years, further confirming the company's continued excellent development capacity and level in the entertainment content field.
Revenue from entertainment content services increased 106.6% from $1,114 billion in 2022 to $2.3 billion in 2023. This increase is mainly due to the fact that the number of films distributed by the company and the share of box office reached record highs during the same period, and domestic films distributed and produced by various groups achieved outstanding box office performance.
Revenue from the online entertainment ticketing business increased by 111.5% from 1,068 billion yuan in 2022 to 2,259 billion yuan in 2023. According to data released by the National Film Administration, the total annual box office of the Chinese film market in 2023 was 54.915 billion yuan, up 82.6% from 30.067 billion yuan in 2022. The offline performance market has also fully recovered. According to data from the China Performance Industry Association, the cumulative number of spectators in the first three quarters of 2023 reached 111 million, exceeding the total number of spectators for the whole year ending December 31, 2019.