Core Viewpoint - Maoyan Entertainment (01896) reported a revenue of approximately 2.472 billion yuan for the first half of 2025, reflecting a year-on-year increase of 13.9% [1] Financial Performance - Revenue for the first half of 2025 was approximately 2.472 billion yuan, up from 2.174 billion yuan in the same period of 2024, driven by increased earnings from entertainment content services [1] - Gross profit for the period was approximately 936.5 million yuan, representing a year-on-year decrease of 19% [1] - Net profit for the period was 178.5 million yuan, down 37.3% year-on-year [1] - Adjusted net profit was approximately 235 million yuan, a decrease of 33.2% compared to the previous year [1] Revenue Drivers - The increase in revenue was primarily attributed to a rise in earnings from entertainment content services, which grew from 1.024 billion yuan in the first half of 2024 to 1.209 billion yuan in the first half of 2025 [1] - The company achieved a record high in the number of films it controlled for promotion/distribution during the first half of 2025, with several films performing exceptionally well at the box office [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Maoyan Entertainment 貓眼娛樂 （於開曼群島註冊成立的有限公司） （股份代號：1896） 截 至2025年6月30日止六個月的中期業績公告 董事會欣然宣佈本集團截至2025年6月30日止六個月的未經審核綜合業績。該等 業績已經由審核委員會連同本公司管理層及核數師審閱。 表現摘要 | | 截 至6月30日止六個月 | | | | --- | --- | --- | --- | | | 2025年 | 2024年 | 同比變動 | | | 人民幣百萬元 | 人民幣百萬元 | % | | | （未經審核） | （未經審核） | | | 收 益 | 2,472.2 | 2,170.9 | 13.9 | | 毛 利 | 936.5 | 1,156.2 | (19.0) | | 經營溢利 | 261.1 | 406.9 | (35.8) | | 期內溢利 | 178.5 | 284.8 | (3 ...

智通财经APP讯，猫眼娱乐(01896)发布公告，于2025年8月22日，因购股权获行使而发行800股;根据截 至2024年12月31日止年度的末期股息的以股代息计划而发行1073.5万代息股份。 ...

猫眼娱乐(01896)发布公告，于2025年8月22日，因购股权获行使而发行800股;根据截至2024年12月31日 止年度的末期股息的以股代息计划而发行1073.5万代息股份。 ...

表格類別： 股票 狀態： 新提交 公司名稱： 貓眼娛樂 呈交日期： 2025年8月22日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01896 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | 每股發行/出售價 (註4) | | | | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | | 庫存股份數目 | | ...

Core Insights - The film box office in China has reached 37.377 billion yuan with over 860 million viewers and more than 92.05 million screenings as of August 18 [1][2] - The summer box office has surpassed 10 billion yuan, with domestic films leading the charge [2] - The industry is experiencing a recovery, with a notable increase in high-rated films contributing to box office growth [3][4] Industry Performance - The summer box office has shown strong performance, with 32 consecutive days of daily box office exceeding 100 million yuan [2] - A diverse range of 153 films has been released, catering to various audience preferences [2] - The success of films like "Wang Wang Mountain Little Monster" has highlighted advancements in the Chinese animation industry [2][3] Company Involvement - Several listed companies are involved in the production of popular films, including China Film, Happiness Blue Sea, and Wanda Film [1][5] - The film "Wang Wang Mountain Little Monster" is produced by Shanghai Film Group, with participation from companies like Maoyan Entertainment and Bilibili [5] - The industry is seeing a positive outlook due to government policies aimed at enhancing cultural production capabilities [5] Future Outlook - Upcoming films such as "Death Comes: Bloodline Curse" and "The Cloud Looks Like You" are anticipated to further boost the summer box office [6] - Analysts suggest that the film industry is at a turning point, with potential for a positive cycle of supply recovery and demand release [5]

Core Viewpoint - The film and television sector in Hong Kong and A-shares has experienced a strong surge, with several companies reaching their daily limit increases, indicating a positive market sentiment and potential recovery in the industry [1][2][3]. Group 1: Market Performance - Companies such as Baida Qiancheng, Huazhi Shumedia, and Huace Film & TV have seen a daily limit increase of 20%, while others like Ciweng Media and Huanrui Century have increased by nearly 10% [1][2]. - In the Hong Kong market, Ningmeng Film and Television surged over 35%, with other companies like Xinshi Culture and Damai Entertainment also showing significant gains [3]. Group 2: Box Office Performance - As of August 18, 2025, the total box office for the summer season has reached 9.959 billion yuan, with expectations to surpass 10 billion yuan soon [3][10]. - The number of moviegoers has exceeded 260 million, showing a significant increase compared to the same period last year [3]. Group 3: Notable Films - The summer box office has been led by films such as "Nanjing Photo Studio," "Wang Wang Mountain Little Monster," and "Chang'an's Lychee," with the former achieving a box office of 2.568 billion yuan [10][14]. - "Wang Wang Mountain Little Monster" has become a standout animated film, grossing over 1 billion yuan and receiving high ratings [6][10]. Group 4: Industry Outlook - The film industry is believed to be at the beginning of a new recovery phase, supported by recent government policies aimed at promoting high-quality cultural development [10][15]. - Analysts suggest that the industry is transitioning towards improved business models, with a focus on quality content production and a potential recovery in audience demand [15][16].

Core Viewpoint - The film and television sectors in Hong Kong and mainland China have experienced a strong surge, with several companies reaching their daily limit increases, indicating a positive market sentiment and potential recovery in the industry [1][2][3]. Group 1: Market Performance - Companies such as Baida Qiancheng, Huazhi Shumedia, and Huace Film & TV have seen a daily limit increase of 20%, while others like Ciwen Media and Huanrui Century have increased by nearly 10% [1][2]. - In the Hong Kong market, Ningmeng Film and Television surged over 35%, with other companies like Xinshi Culture and Damai Entertainment also showing significant gains [2][3]. Group 2: Box Office Performance - As of August 18, 2025, the total box office for the summer season has reached 9.959 billion yuan, with expectations to surpass 10 billion yuan soon [3][4]. - The summer box office has seen a significant increase in audience attendance, exceeding 260 million, compared to the same period last year [3][4]. Group 3: Notable Films - The animated film "Wang Wang Mountain Little Monster" has emerged as a top performer, grossing over 1 billion yuan and receiving high ratings, marking a significant achievement for domestic animation [5][6]. - "Nanjing Photo Studio" has also performed well, grossing 2.5 billion yuan, showcasing a strong interest in historical narratives [7][9]. Group 4: Industry Outlook - Analysts suggest that the film industry may be at the beginning of a new recovery phase, supported by recent policy improvements aimed at promoting high-quality cultural content [12][13]. - The industry is expected to see a gradual improvement in business models, with a focus on high-quality long-form projects and a potential increase in short-form content becoming mainstream [13][14].

Group 1 - The film stocks showed strong performance in early trading, with Lemon Films rising by 33.03% to HKD 5.8, DMG Entertainment up by 8.94% to HKD 1.34, Maoyan Entertainment increasing by 6.05% to HKD 8.24, and IMAX China gaining 1.2% to HKD 8.4 [1] - As of August 18, 2025 summer movie season total box office (including pre-sales) reached CNY 9.956 billion, with total audience exceeding 260 million, showing significant growth compared to the same period last year [1] - The latest statistics from Maoyan Professional Edition indicate that the domestic animated film "Wang Wang Mountain Little Monster" has surpassed CNY 1.0026 billion in cumulative box office [1] Group 2 - In early 2025, the State Council issued a notice emphasizing the promotion of high-quality development in the cultural sector, particularly in film and animation content creation [2] - Huaxi Securities noted that if policy guidance improves as expected, the film sector is at a turning point similar to the lifting of game license restrictions at the end of 2022 [2] - With marginal policy improvements, the industry’s business model is expected to gradually improve, leading to a quicker release of quality long-form projects and a potential recovery in the supply of major productions, which could accelerate cash turnover for new businesses [2]

Group 1 - The film stocks showed strong performance in early trading, with Lemon Films rising by 33.03% to HKD 5.8, DMG Entertainment up by 8.94% to HKD 1.34, Maoyan Entertainment increasing by 6.05% to HKD 8.24, and IMAX China gaining 1.2% to HKD 8.4 [1] - As of August 18, 2025 summer movie season total box office (including pre-sales) reached CNY 9.956 billion, with total audience exceeding 260 million, showing significant growth compared to the same period last year [1] - The latest statistics from Maoyan Professional indicate that the domestic animated film "Wang Wang Mountain Little Monster" has surpassed CNY 1.0026 billion in cumulative box office [1] Group 2 - In early 2025, the State Council issued a notice emphasizing the promotion of high-quality development in the cultural sector, particularly in film and animation content creation [2] - Huaxi Securities noted that if policy guidance improves as expected, the film sector is at a turning point similar to the lifting of game license restrictions at the end of 2022, with potential for gradual improvement in business models and accelerated launch of quality long-form projects [2] - The industry may see a gradual recovery in supply of major productions, which could help accelerate inventory reduction and improve cash turnover for new businesses [2]