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Hong Kong stock market soared today; shares in the movie concept rose generally. The summer culture and entertainment consumption season is coming soon, and the focus will be on rich summer movies.
According to the Zhitong Finance APP, movie concept stocks rose today. As of press time, China Ruyi (00136) rose 8.41% to HKD 2.19; Maoyan Entertainment (01896) rose 4.82% to HKD 9.14; Ali Pictures (01060) rose 3.26% to HKD 0.475; and Lehuahua Entertainment (02306) rose 4.76% to HKD 0.66. In terms of news, the 2024 Dragon Boat Festival file ended, with a total box office (including service fees) of 383 million yuan and a total of 1.3912 million screenings during the 2024 Dragon Boat Festival period, according to Lantern Professional Edition data.
Hong Kong stocks shake | Ali Pictures (01060) rose more than 4% in the afternoon, with annual revenue increasing by 44% year-on-year, and GMV of Damai increased by more than 500% year-on-year.
Ali Pictures (01060) rose more than 4% in the afternoon. As of press time, it increased 4.55% to 0.46 Hong Kong dollars, with a turnover of 20,080,300 Hong Kong dollars.
GF Sec: Maintains a "buy" rating for Ali Pictures (01060) with a target price of HKD 0.68.
According to the China Performing Arts Industry Association, the national performance box office in 2023 increased by 151% compared with 2019, and the national performance box office from January to March 2024 increased by 117% year-on-year.
After one year online, the number of "Wish" attendees for Damai concerts in cities has exceeded 100 million.
After one year online, the number of "Wish" attendees for Damai concerts in cities has exceeded 100 million.
Research Report | CICC: Maintaining Alibaba Pictures' “Outperform the Industry” Rating and Focus on the Progress and Box Office Performance of Key Films
According to the report released by CICC, Alibaba Pictures's revenue for the 2024 fiscal year was 5,036 billion yuan, up 43.9% year on year; net profit of 285 million yuan, turning a loss into profit from year to year, in line with the previous forecast; non-GAAP eBITDA of 504 million yuan, up 60.9% year on year; and non-GAAP net profit of 479 million yuan, up 112.8% year on year, and performance was in line with market expectations. According to the report, looking ahead to 2024, Alibaba Pictures has rich and diverse film reserves, and is watching the progress of key summer films. This year, the company owner produced and distributed “Hot and Hot and Hot”, which won the Spring Festival box office title; subsequent movies were saved
Alibaba Pictures Swings to Profit as Revenue Surges 44%
Alibaba Pictures Group (HKG:1060) logged a profit attributable to owners of 284.8 million yuan, or 0.0103 yuan per share, in the year ended March 31, rebounding from a loss of 291.1 million yuan, or 0
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