Film and television stocks rallied higher. As of press release, Huanxi Media (01003) rose 18.33% to HK$0.71; Ning Meng Film and Television (09857) rose 3.31% to HK$8.43; and Maoyan Entertainment (01896) rose 2.75% to HK$10.1.
The Zhitong Finance App learned that film and television stocks rose higher. As of press release, Huanxi Media (01003) rose 18.33% to HK$0.71; Ning Meng Film and Television (09857) rose 3.31% to HK$8.43; Maoyan Entertainment (01896) rose 2.75% to HK$10.1; and IMAX China (01970) rose 0.43% to HK$7.08.
According to Minsheng Securities, the 2024Q1 box office reached 16.484 billion yuan, an increase of 4% over the previous year. The reason for the year-on-year recovery in the Q1 film market was not only due to the performance exceeding expectations of the New Year's Day and Spring Festival movies, but the good monthly box office growth in March was also an important reason. It grossed 2,786 billion yuan in March 2024, an increase of 46.09% over the previous year. The bank believes that in March of this year, driven by the good performance of high-quality domestic films and imported films, there was a year-on-year increase in box office. Looking ahead to the whole year, the film market is expected to recover further with the launch of high-quality films such as “Kung Fu Panda 4” and “Xiao Qian”.
Huajin Securities said that following the 2024 New Year's Day and Spring Festival programs, which set new film history records for the same period, according to Lighthouse Pro, the Qingming Festival (April 4 to April 6) achieved a box office record of 834 million yuan, successfully surpassing the 2021 Qingming file's original box office record of 822 million yuan, and setting a new record for the highest box office in the Qingming category of Chinese film history. The strength of the Qingming program exceeded expectations, compounding the long-tail effects, or continuing to boost the recovery of the film and television industry; the first half of the year, the entire schedule exploded, and the introduction of films combined with high-quality IP reserves, and the subsequent schedule was still promising.