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]

Group 1 - The Hong Kong film and television stocks experienced a general rise, with notable increases in several companies' stock prices [1] - Fengde Li Holdings saw a rise of over 12%, while Ningmeng Film and Television increased by over 10% [1] - New Stone Culture, Damai Entertainment, and Yaoxing Technology Group also reported gains of 5.49%, 4.07%, and nearly 4% respectively [1] Group 2 - Fengde Li Holdings' latest price is 0.064 with a market capitalization of 112 million and a year-to-date increase of 20.75% [2] - Ningmeng Film and Television's stock price is 4.820, with a market cap of 1.743 billion and a year-to-date increase of 72.14% [2] - Damai Entertainment has a stock price of 1.280, a market cap of 38.241 billion, and a significant year-to-date increase of 169.47% [2]

每经AI快讯，8月18日，截至发稿，柠檬影视(09857.HK)涨11.70%、大麦娱乐(01060.HK)涨6.50%、猫眼 娱乐(01896.HK)涨4.50%。 （文章来源：每日经济新闻） ...

格隆汇8月13日丨猫眼娱乐(01896.HK)公布，公司将于2025年8月25日召开董事会会议，以（其中包括） 审议及通过集团截至2025年6月30日止六个月的中期业绩及其发布，以及审议派发中期股息的建议（如 有）。 ...

貓 眼 娛 樂（「本公司」）董 事 會（「董事會」）謹 此 公 佈，董 事 會 會 議 將 於2025年8月25 日（星 期 一）舉 行，藉 以（其 中 包 括）審 議 及 批 准 本 公 司、其 附 屬 公 司 及 綜 合 聯 屬 實 體截至2025年6月30日止六個月之中期業績及其發佈，考慮派發中期股息（如有）， 以及處理其他事項。 承董事會命 貓眼娛樂 執行董事 鄭志昊 香港，2025年8月13日 於本公告日期，董事會包括執行董事鄭志昊先生；非執行董事王長田先生、李曉 萍女士、王牮女士、孫忠懷先生、陳少暉先生及唐立淳先生；及獨立非執行董事 汪華先生、陳尚偉先生、尹紅先生及劉琳女士。 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） 董事會會議日期 ...

Core Viewpoint - The company is expected to experience a revenue increase in the first half of 2025, driven by a recovery in the Chinese film market and an increase in self-produced films, although net profit is projected to decline significantly due to losses from self-produced films and increased investment in performance business [1][2]. Group 1: Revenue and Profit Forecast - Total revenue for 1H25 is projected to be 2.48 billion RMB, a year-on-year increase of 14.3% [1]. - The company anticipates a net profit attributable to shareholders of 170 million RMB for 1H25, representing a year-on-year decrease of 41.9% [1]. - Online entertainment ticketing revenue is expected to reach 1.19 billion RMB, a year-on-year increase of 13.4% [1]. Group 2: Film and Performance Business Insights - The Chinese film box office for 1H25 is estimated at 29.231 billion RMB, a year-on-year growth of 22.91%, with attendance increasing by 16.89% to 641 million [1]. - The company has participated in several major films, including "Detective Chinatown 1900" and "Dumpling Queen," with box office performances of 3.612 billion RMB and 419 million RMB, respectively [2]. - The company’s self-produced films have shown poor performance, with titles like "Children of Time" and "Meeting of Life" generating low box office returns, leading to increased costs and losses [2]. Group 3: Margin and Cost Analysis - The company's gross margin for 1H25 is expected to be 39.2%, a decrease of 14.1 percentage points year-on-year, primarily due to low ROI from self-produced films and increased infrastructure costs in the performance business [2]. - The company is focusing on increasing market share in the performance sector, with strategies including lowering ticket fees and commercial negotiations, leading to stable revenue expectations despite profit not being the primary goal [1]. Group 4: Future Outlook and Valuation - Revenue forecasts for 2025 and 2026 have been revised down to 4.4 billion RMB and 4.8 billion RMB, respectively, reflecting a 4% decrease from previous estimates [3]. - Net profit forecasts for 2025 and 2026 have been significantly reduced to 320 million RMB and 520 million RMB, respectively, a decrease of 56% and 42% from prior predictions [3]. - The company is advised to maintain a focus on upcoming film releases and their box office potential, with several films already showing profitability [2].

Core Viewpoint - The company expects a revenue increase for the first half of 2025, but a significant decline in profit attributable to shareholders compared to the same period in 2024 [1][2]. Group 1: Financial Projections - The company anticipates revenue for the first half of 2025 to be approximately 2.4 billion to 2.5 billion RMB, representing a growth of about 10.6% to 15.2% compared to 2.171 billion RMB for the first half of 2024 [1]. - The expected profit attributable to shareholders for the first half of 2025 is projected to be around 160 million to 200 million RMB, which is a decrease of approximately 29.8% to 43.8% from 285 million RMB in the first half of 2024 [1]. Group 2: Market Performance and Challenges - The overall box office for the first half of 2025 is expected to be 29.231 billion RMB, a 22.91% increase from 2024, driven by major films during the Spring Festival [2]. - However, from March to June 2025, the film market faced a significant downturn, with total box office revenue dropping to 6.771 billion RMB, a year-on-year decline of 33.68% due to a lack of major films [2]. - Despite releasing a record number of 24 films during the reporting period, some films underperformed at the box office, leading to a decline in profitability for the entertainment content service business [2]. Group 3: Content and Future Strategies - As of August 7, 2025, the summer box office has exceeded 7.6 billion RMB, contributing to a total annual box office of 34.994 billion RMB [3]. - The company has a strong pipeline of quality content, with several films achieving excellent reviews and box office results, and more films scheduled for release [3]. - The company is increasing its investment in live performance services, providing ticketing services for major artists and events, and is actively exploring new business models in IP management [3].

Core Viewpoint - The company expects a revenue increase for the first half of 2025, but a significant decline in profit attributable to shareholders compared to the same period in 2024 [1][2]. Group 1: Financial Projections - The company anticipates revenue for the first half of 2025 to be approximately 2.4 billion to 2.5 billion RMB, representing a growth of about 10.6% to 15.2% compared to 2.171 billion RMB for the first half of 2024 [1]. - The expected profit attributable to shareholders for the first half of 2025 is projected to be around 160 million to 200 million RMB, which is a decrease of approximately 29.8% to 43.8% from 285 million RMB in the first half of 2024 [1]. Group 2: Market Performance and Challenges - The overall box office for the first half of 2025 is expected to be 29.231 billion RMB, a 22.91% increase from 2024, driven by major films during the Spring Festival [2]. - However, from March to June 2025, the film market faced a significant downturn, with total box office revenue dropping to 6.771 billion RMB, a year-on-year decline of 33.68% due to a lack of major films [2]. - Despite releasing a record number of 24 films during the reporting period, some films underperformed at the box office, leading to a decline in profitability for the entertainment content service business [2]. Group 3: Future Developments and Strategies - The company has a strong pipeline of quality content, with several films achieving excellent reviews and box office performance during the summer season [3]. - Upcoming films and events include major concerts and esports tournaments, indicating a strategic focus on enhancing market competitiveness and diversifying revenue streams [3]. - The company is actively exploring new business models in IP development, with early-stage investments in IP reserves, operations, and channel construction, which are expected to positively impact future operations [3].

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 就 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。 根據現時所得資料，董事會認為前述本集團盈利水準的預期降幅主要由於：(1)2025 年 上 半 年，在 春 節 檔《哪 吒 之 魔 童 鬧 海》和《唐 探1900》等 頭 部 影 片 的 帶 動 下，全 國 電影總票房為人民幣292.31億 元、較2024年增長22.91%（根 據 國 家 電 影 局 數 據）； 但3月–6月電影市場明顯遇冷，頭部影片相對缺失，該期間的總票房僅為67.71億元， 同比下降33.68%（根 據 貓 眼 專 業 版 數 據）。在 該 背 景 下，本 集 團 在 報 告 期 內 共 有24 部主控宣傳╱發行的影片上映（包括4部開發的影片），影片數量均創歷史同期新高， 但 是，其 中 參 與 的 部 分 影 片 票 房 表 現 不 及 預 期，使 得 娛 樂 內 容 服 務 業 務 的 盈 利 較上年同期出現一定程度下滑。( ...