（文章来源：每日经济新闻） 每经AI快讯，大麦娱乐(01060.HK)涨近5%，截至发稿涨4.65%，报0.9港元，成交额4513.51万港元。 ...

Core Viewpoint - Damai Entertainment (01060) has seen a nearly 5% increase in stock price, currently at 0.9 HKD, with a trading volume of 45.1351 million HKD. The 2025 New Year holiday box office has reached 5.245 billion RMB, marking the second time in Chinese film history that the holiday box office has surpassed 5 billion RMB since 2017, achieving the highest box office for the same period in nearly eight years [1]. Group 1 - The 2025 New Year holiday box office (November 28 - December 31) has reached 5.245 billion RMB, indicating a significant recovery in the film industry [1]. - This box office performance is the second highest in history for the New Year holiday period, following the 2017 record [1]. - The report from Western Securities (002673) highlights that Damai Entertainment is well-positioned in the high-growth sectors of live performances and IP derivatives, indicating a positive outlook for the live entertainment market [1]. Group 2 - The demand for live entertainment is expected to continue growing, driven by both personal enjoyment and social needs, with an increase in the frequency of attendance [1]. - The ticketing business is providing a stable revenue base, and the partnership with Alibaba Fish is anticipated to enhance performance, benefiting from the ongoing recovery and structural upgrades in offline entertainment consumption [1]. - Western Securities projects Damai Entertainment's adjusted net profits for the fiscal years 2026 to 2028 to be 1.06 billion, 1.354 billion, and 1.577 billion RMB respectively, initiating a "buy" rating for the company [1].

Core Viewpoint - The stock of Damai Entertainment (01060) has seen an increase of nearly 5%, currently trading at 0.9 HKD, with a transaction volume of 45.1351 million HKD. The 2025 New Year’s box office has reached 5.245 billion RMB, marking the second time in Chinese film history that the New Year’s box office has surpassed 5 billion RMB since 2017, achieving the highest box office for the same period in nearly eight years [1][1][1]. Group 1: Company Performance - Damai Entertainment's positioning in the high-demand sectors of live performances and IP derivatives is viewed positively, indicating sustained high demand in the live entertainment market [1]. - The ticketing business is expected to provide a stable revenue base, while Aliyu is anticipated to offer performance flexibility, benefiting from the ongoing recovery and structural upgrades in offline entertainment consumption [1]. Group 2: Financial Projections - Western Securities forecasts that Damai Entertainment's adjusted net profits for the fiscal years 2026, 2027, and 2028 will be 1.06 billion, 1.354 billion, and 1.577 billion RMB, respectively, and has initiated a "buy" rating for the company [1].

Group 1 - The core viewpoint of the article is that West Securities is optimistic about the sustained high demand in the live entertainment sector, particularly for Damai Entertainment, which is positioned well in both performance and IP derivative markets [1] - The report highlights that the demand side is resonating with both personal enjoyment and social needs, leading to an increase in the frequency of attendance at events [1] - The ticketing business is expected to provide a stable revenue base, while Alibaba's influence is anticipated to offer performance flexibility, benefiting from the ongoing recovery and structural upgrade in offline entertainment consumption [1] Group 2 - West Securities projects that Damai Entertainment's adjusted net profits for the fiscal years 2026 to 2028 will be RMB 1.06 billion, RMB 1.354 billion, and RMB 1.577 billion respectively [1] - The company has initiated a "buy" rating for Damai Entertainment, indicating a positive outlook on its future performance [1]

Group 1 - The live performance market is experiencing a "volume and price increase" with a projected box office for large concerts exceeding 26 billion yuan in 2024, representing a year-on-year growth of 78.1% [1] - The demand side is driven by a resonance of self-indulgence and social needs, with an increase in the proportion of repeat attendees, while the supply side sees continuous expansion in lower-tier cities and diversification of categories [1] - Damai maintains a leading position in the ticketing market due to its strong first-mover advantage, deep industry integration over nearly 20 years, and cultivation of consumer habits [1] Group 2 - Alibaba's IP licensing platform, Aliyu, is the largest in China and the sixth globally, with a projected GMV of 4.1 billion USD in 2024, leveraging an "IP2B2C" model to create competitive barriers [2] - The film industry is still in a recovery phase, with a total box office of 29.23 billion yuan in the first half of 2025, showing a year-on-year increase of 22.91% [2] - The company is positioned in high-growth sectors of live performances and IP derivatives, with stable contributions from ticketing business and potential performance elasticity from Aliyu, expecting adjusted net profits of 1.06 billion, 1.35 billion, and 1.58 billion yuan for FY26-28 [2]

Investment Rating - The report assigns a "Buy" rating to the company, Dama Entertainment (1060.HK), marking its first coverage [4]. Core Insights - Dama Entertainment is positioned as a leading platform in the live entertainment sector, driven by ticket sales and IP derivatives. The live performance market is experiencing a "volume and price increase" with a projected box office revenue of over 26 billion yuan for large concerts in 2024, reflecting a year-on-year growth of 78.1%. The company benefits from the high demand in the domestic performance market and is expanding its content, international reach, and product categories [1][3][4]. Summary by Sections 1. Company Overview - Dama Entertainment, formerly known as Cultural China, has evolved into a comprehensive entertainment platform focusing on live performances and IP derivatives. The company has undergone significant restructuring and acquisitions since its establishment in 2014, becoming a subsidiary of Alibaba Group in 2019 [17][20]. 2. Live Performance Sector - The live performance market is characterized by high growth, with Dama Entertainment maintaining a leading position. The company reported a revenue of 20.57 billion yuan from live performances in FY25, a year-on-year increase of 236%, contributing to 30.69% of total revenue [26][36]. The demand for live events is driven by social and self-pleasure needs, with an increasing frequency of attendance among younger audiences [43][49]. 3. IP Derivatives - Dama's IP business, led by Alibaba's IP platform, Alifish, is experiencing significant growth. In FY25, the IP derivatives revenue reached 14.33 billion yuan, up 73.21% year-on-year. Alifish is recognized as the largest IP licensing agent in China, with a strong network effect and a diverse portfolio of IPs [2][63][67]. 4. Film Sector - The film industry is still in a recovery phase, with a focus on stable content investment. The company plans to concentrate on key film projects, with a projected revenue of 27.12 billion yuan from its film technology and investment platform in FY25, despite a slight decline from the previous year [2][3][21]. 5. Financial Projections - The report forecasts adjusted net profits for Dama Entertainment to be 10.60 billion yuan, 13.54 billion yuan, and 15.77 billion yuan for FY26, FY27, and FY28, respectively, indicating a robust growth trajectory [3][13]. The company is expected to maintain a strong market position while benefiting from the ongoing recovery in offline entertainment consumption [3][10].

Damai Entertainment Holdings Limited 大麥娛樂控股有限公司 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號：1060) Notification Letter 通知信函 December 23, 2025 Dear Non-registered Holders (Note 1) , Damai Entertainment Holdings Limited (the "Company") – Notification of Publication of 2025/26 Interim Report (the "Current Corporate Communication(s)") The English and Chinese versions of the Current Corporate Communication(s) of the Company are available on the Company's website at www.damaih ...

Notification Letter 通知信函 December 23, 2025 Dear Shareholders, Damai Entertainment Holdings Limited (the "Company") – Notification of Publication of 2025/26 Interim Report (the "Current Corporate Communication(s)") Damai Entertainment Holdings Limited 大麥娛樂控股有限公司 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號：1060) 各位股東： 大 麥 娛 樂 控 股 有 限 公 司（「本公司」） – 2025/26中 期 報 告（「本次公司通訊」）的 發 佈 通 知 The English and Chinese versions of the Current Corporate Communication(s) of the Company are ...

Damai Entertainment Holdings Limited Damai Entertainment Holdings Limited 大麥娛樂控股有限公司 (前稱 Alibaba Pictures Group Limited 阿里巴巴影業集團有限公司) 於百慕達註冊成立之有限公司 中期報告 2025 26 本中期報告採用環保紙印刷 大麥娛樂控股有限公司 ( formerly known as Alibaba Pictures Group Limited阿里巴巴影業集團有限公司) Incorporated in Bermuda with limited liability INTERIM REPORT 2025 26 This Interim Report is printed on environmentally friendly paper 2025 / 26 中期報告 INTERIM REPORT 大 Damai Entertainment Holdings Limited 麥娛樂控股有限公司 獨 立 非 執 行 董 事（「獨立非執行董事」） 宋立新女士 童小幪先生 陳志宏先生 執行委員會 ...

Core Viewpoint - The "Golden Award" annual excellence company selection by Gelonghui recognizes companies for their social responsibility and management quality, highlighting the importance of corporate social responsibility for sustainable development [1][2]. Group 1: Award Winners - Ten companies received the "Annual Social Responsibility Award," including: - Damai Entertainment (01060.HK) - Urban Beauty (02298.HK) - Greentown Management Holdings (09979.HK) - Qifu Technology-S (03660.HK) - Qingniao Fire Protection (002960.SZ) - Tencent Holdings (00700.HK) - Xiaocai Garden (00999.HK) - iFlytek Medical Technology (02506.HK) - Yuehai Investment (00270.HK) - ZhongAn Online (06060.HK) The ranking is in alphabetical order and does not indicate priority [1]. Group 2: Evaluation Process - The selection process for the awards involved quantitative data analysis and an expert review panel to determine the final results [1]. - The aim of the "Golden Award" is to create a valuable reference for investors regarding listed companies and unicorns across various stock exchanges, including the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, and NASDAQ [2].