Industry Overview - In 2024, the number of operating cinemas in China reached 13,337, a historical high, despite a backdrop of declining box office revenues, leading to intensified market competition [1] - The total number of screens in operation in 2024 reached 81,500, surpassing 80,000 for the first time [1] - The number of newly built cinemas in 2024 was 1,026, representing a year-on-year growth of 19.9% [1] Company Developments - Wanda Film reported opening 7 new cinemas in 2024, maintaining a total of 892 cinemas and 7,435 screens by the end of the year [2] - Hengdian Film announced the opening of 29 new asset-linked cinemas in 2024, bringing its total to 541 cinemas [2] - Happiness Blue Sea opened 2 new cinemas in 2024, with plans to sign 5 new cinema projects [3] Strategic Adjustments - Hengdian Film is optimizing its cinema construction and development strategies to enhance the scale, quality, and profitability of its direct-operated cinemas [3] - Wanda Film plans to adjust its cinema development strategy based on market conditions, with a goal to open 20 to 25 new direct-operated cinemas in 2025 [4] - Companies are focusing on improving operational efficiency and closing underperforming cinemas to mitigate risks [3]

Core Viewpoint - The Chinese film market in 2024 is experiencing a significant downturn, with total box office revenue and audience attendance both declining sharply compared to 2023, leading to substantial losses for major cinema companies [1][2]. Industry Summary - The total box office revenue for the Chinese film market in 2024 is 425.02 billion (including service fees), a decrease of 22.6% year-on-year. Audience attendance is 1.01 billion, down 22.3% from the previous year [1]. - The number of new films released in 2024 is 497, which is 11 fewer than in 2023. There are 72 films that grossed over 100 million, an increase of 2 films, but only 16 films grossed over 500 million, a decrease of 13 films [1]. - A total of 5 cinema companies, including Wanda Film, Hengdian Film, Jinyi Film, Happiness Blue Sea, and Shanghai Film, reported a combined revenue of 16.69 billion, a year-on-year decrease of 17.5%, with a net loss of 1.229 billion, a drastic decline of 202.74% compared to the previous year [1]. Company Performance Summary - Wanda Film leads with a revenue of 12.362 billion, contributing approximately 74.1% to the total revenue of the 5 companies, but experienced a year-on-year decline of 15.44%. Its net loss is 940 million, a reversal from a profit of 912 million the previous year, marking a 203.05% decline [3][4]. - Happiness Blue Sea shows the largest revenue drop of 40.53%, with total revenue of 654 million. It is the only company to continue reporting losses, with a net loss of 192 million, an increase of 772.98% compared to the previous year [3][4]. - Shanghai Film is the only company maintaining profitability, with a net profit of 90 million, although this represents a year-on-year decrease of 29.08% [4]. Revenue Breakdown - For Wanda Film, box office revenue is 6.687 billion, down 20.82%, accounting for 54.09% of total revenue, a decrease of 3.67 percentage points from 2023. Other companies follow with varying revenue declines [5]. - Non-ticket revenue for Wanda Film from merchandise and advertising is 1.545 billion and 1.278 billion, respectively, contributing about 23% to total revenue. The other four companies have revenue in the million range, which has a limited impact on overall performance [5][6]. Profitability Metrics - In terms of gross margin, Jinyi Film is the only company with a positive gross margin from film screening at 2.78%, while the others report negative margins, with Happiness Blue Sea at -17.62% [7]. - The overall gross margin for the five companies is positive, with Shanghai Film and Wanda Film exceeding 20%. However, Hengdian Film and Happiness Blue Sea are at the bottom with margins of 3.06% and 3.21%, respectively [8]. - Only Shanghai Film has a positive net margin, while the other four companies report negative margins, with Happiness Blue Sea at -29.61%, the lowest among them [8]. Cost and Expense Analysis - Happiness Blue Sea's asset impairment and credit impairment losses have significantly increased, contributing to its poor net margin. Its expense ratio is the highest among the five companies at 26.77%, up about 10 percentage points year-on-year [9].

广东省深圳市福田区深南大道 1006 号深圳国际创新中心 A 座 3、4、12 层（518026） 3/F, 4/F, 12/F, Block A, Shenzhen International Innovation Center, No.1006, Shennan Boulevard, Futian District,Shenzhen 518026, P. R. China Tel: +86 755-2622 4888/4999 Fax: +86 755-2622 4111/4200 北京大成（深圳）律师事务所 关于广州金逸影视传媒股份有限公司 2024 年年度股东大会 之 法律意见书 北 京 大 成 （ 深 圳 ） 律 师 事 务 所 二〇二五年五月 北京大成（深圳）律师事务所 法律意见书 北京大成（深圳）律师事务所 关于广州金逸影视传媒股份有限公司 2024 年年度股东大会之 法律意见书 致：广州金逸影视传媒股份有限公司 北京大成（深圳）律师事务所（以下简称"本所"）接受广州金逸影视传媒 股份有限公司（以下简称"公司"）的委托，指派律师出席公司 2024 年年度股 东大会（以下简称"本次股东大会"），并 ...

证券代码：002905 证券简称：金逸影视 公告编号：2025-020 2024 年年度股东大会决议公告 广州金逸影视传媒股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 特别提示： 1.本次股东大会未出现否决提案。 2.本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）召开情况 1.会议召开时间： （1）现场会议召开时间：2025年5月13日（星期二）下午14:00； （2）网络投票时间：2025年5月13日 ①通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 5 月 13 日 09:15 至 09:25、09:30 至 11:30、13:00 至 15:00； ②通过深圳证券交易所互联网投票系统进行网络投票的具体时间为 2025 年 5 月 13 日 9:15-15:00 期间的任意时间。 2.会议召开方式：采取现场投票与网络投票相结合的方式。 3.会议召开地点：广东省广州市天河区天河北路468号嘉逸国际酒店七楼M6 会议室。 4.会议召集人：公司董事会 5.会议 ...

Core Insights - The Chinese film market experienced a significant boost in Q1 2025, driven by strong performances during the Spring Festival, particularly from the film "Nezha 2" [1][3] - However, after February, the market faced a sharp decline, with poor performance in subsequent months, raising concerns about future earnings [2][5] Financial Performance - Hengdian Film's Q1 revenue increased by 39.15% to 1.172 billion yuan, with net profit up 110.35% to 325 million yuan [1] - Happiness Blue Sea reported a 40.4% revenue increase to 332 million yuan, with net profit soaring by 2817.87% to 68.44 million yuan [1] - Wanda Film's Q1 revenue grew by 23.33% to 4.709 billion yuan, with net profit increasing by 165.72% to 816 million yuan [2] Market Trends - The overall box office for the Chinese film market in Q1 2025 reached 24.39 billion yuan, a 49.1% year-on-year increase, with 520 million admissions, up 43% [3] - The market saw a significant drop in box office revenue in March and April, with declines of 31% and 46.5% respectively [3][4] Cinema Operations - The number of new cinemas opened in January 2025 was 329, but this dropped dramatically to 17 in February, indicating a slowdown in cinema construction [4] - The performance of special effect theaters improved, with their box office contribution rising significantly during Q1 2025, largely due to "Nezha 2" [6][8] Audience Engagement - IMAX theaters saw a notable increase in ticket sales, with a year-on-year growth of 218.1% and 259.4% in January and February respectively [8] - The demand for high-quality cinematic experiences remains strong, as evidenced by the popularity of IMAX screenings of "Nezha 2" [7][8] Future Outlook - The film industry anticipates an increase in blockbuster releases in 2025, with several high-profile films expected to be released, potentially revitalizing the market [9]

Financial Performance - In 2024, the company reported a revenue of ¥1,012,421,117.93, with a net loss of ¥90,354,207.61 due to industry recovery falling short of expectations and high fixed costs [3][4][11] - In Q1 2025, following the success of the film "Nezha: Birth of the Demon Child," the company achieved a revenue of ¥505,596,225.68 and a net profit of ¥106,452,480.17, marking a year-on-year growth of 493.15% [4][7][11] Market Context - The total box office for the Chinese film market in 2024 was ¥42.502 billion, a decrease of 22.6% compared to 2023, with 1.01 billion viewers, down 22.3% [9] - The company's direct-operated cinemas generated a box office of ¥936 million, ranking 5th among national film investment companies, while its cinema line achieved ¥1.639 billion, ranking 9th [9][14] Strategic Initiatives - The company plans to enhance profitability through various strategies, including optimizing cinema networks, expanding non-ticket revenue streams, and exploring the "Cinema+" model [8][13][14] - Future projects will focus on activating cinema spaces for diverse events, such as live broadcasts of sports and cultural performances [6][8] Industry Challenges and Opportunities - The company faces risks including public health emergencies, increased competition, and reliance on upstream film production [7][11] - The successful release of "Nezha: Birth of the Demon Child" during the Spring Festival (January 28 - February 4) generated a record box office of ¥9.51 billion and 187 million viewers, indicating a potential recovery for the industry [10][11] Future Outlook - The company aims to leverage its established brand and market position to capitalize on the anticipated recovery in the film industry, focusing on content innovation and technological advancements [10][12]

关于举行 2024 年度网上业绩说明会的公告 证券代码：002905 证券简称：金逸影视 公告编号：2025-019 广州金逸影视传媒股份有限公司 关于举行 2024 年度网上业绩说明会的公告 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 1、会议召开时间：2025 年 5 月 9 日（星期五）15:00-17:00 2、会议召开平台：价值在线（www.ir-online.cn） 3、会议召开方式：网络互动方式 二、参加人员 出席本次年度报告说明会的人员有：公司董事、总经理李晓东先生；董事、 副总经理、董事会秘书许斌彪先生；独立董事修宗峰先生；财务总监曾凡清先生 （如遇特殊情况，参会人员可能进行调整）。 三、投资者参加方式 为充分尊重投资者、提升交流的针对性，现就公司 2024 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2025 年 5 月 9 日（星期五）前访问 https://eseb.cn/1nTeCG0e5BC 进行会前提问，公司将通过 本次业绩说明会，在信息披露允许范围内就投资者普遍关注的问题进行回答。 关 ...

Group 1 - The A-share film and cinema sector showed strong performance at the beginning of trading, with Huayi Brothers, Golden Shield Film, and others experiencing significant gains [1] - Huayi Century reached the daily limit increase, while Ciwen Media rose over 6% [1] - Other companies in the sector, such as Baiana Qiancheng, also saw upward movement in their stock prices [1]

Financial Performance - The company's revenue for Q1 2025 reached ¥505,596,225.68, representing a 37.28% increase compared to ¥368,298,488.63 in the same period last year[4] - Net profit attributable to shareholders was ¥106,452,480.17, a significant increase of 493.15% from ¥17,946,942.00 year-on-year[4] - Basic earnings per share increased to ¥0.28, reflecting a 460.00% rise from ¥0.05 in the previous year[4] - Operating profit surged to ¥107,887,801.60, compared to ¥17,761,296.71 in the prior period, indicating a substantial improvement[26] - Net profit for the current period was ¥106,721,213.05, compared to ¥18,114,854.72, marking an increase of 486.5%[27] Cash Flow - The net cash flow from operating activities was ¥196,006,242.70, up 110.24% from ¥93,231,803.25 in Q1 2024[12] - Operating cash flow for the current period was ¥196,006,242.70, a significant increase of 110.9% compared to ¥93,231,803.25 in the previous period[29] - Total cash inflow from operating activities was ¥521,722,046.31, up from ¥386,185,266.93, reflecting a growth of 35.1%[29] - Cash outflow from operating activities increased to ¥325,715,803.61 from ¥292,953,463.68, representing a rise of 11.2%[29] - Net cash flow from financing activities showed a drastic decline of 1082.31%, amounting to -¥96,787,744.79 compared to -¥8,186,345.20 in Q1 2024[12] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥2,985,830,616.14, a slight increase of 0.49% from ¥2,971,249,978.76 at the end of the previous year[5] - The company's equity attributable to shareholders rose to ¥182,063,819.43, marking a 141.20% increase from ¥75,482,484.90 at the end of the previous year[5] - Total liabilities also saw a decrease to ¥2,802,151,075.05 from ¥2,894,420,505.08, reflecting a decline of 3.2%[23] - The company's non-current assets totaled ¥2,082,536,897.04, down from ¥2,163,552,704.69, a decrease of 3.7%[23] - The company reported a significant reduction in short-term borrowings, which fell to ¥321,667,628.80 from ¥410,703,532.01, a decrease of 21.6%[23] Market Performance - In Q1 2025, the domestic film box office reached RMB 9.51 billion, a year-on-year increase of 18.64%, with total attendance of 187 million, up 14.68%[17] - The company's direct-operated cinemas achieved box office revenue of RMB 470 million, representing a year-on-year growth of 36.40%, with attendance of 9.22 million, an increase of 22.54%[17] - The total box office for the first quarter of 2025 was RMB 24.39 billion, a 49.08% increase year-on-year, with total attendance of 520 million, up 42.86%[17] - The film "Detective Chinatown 1900," co-produced by the company's subsidiary, grossed RMB 3.565 billion during the Spring Festival[17] Strategic Initiatives - The company plans to dissolve and liquidate the Jin Yi Jin Yi (Tianjin) Investment Management Center (Limited Partnership) following the expiration of its five-year term on March 23, 2025[18] - The company aims to enhance its competitive position and industry status through strategic partnerships and investments in the cultural industry[18] Other Financial Metrics - The weighted average return on equity surged to 82.71%, up 71.82 percentage points from 10.89% at the end of the previous year[5] - Total operating costs amounted to ¥404,650,202.96, up from ¥382,513,298.17, reflecting a rise of 5.3%[26] - The company's cash and cash equivalents decreased to RMB 426.56 million from RMB 456.48 million, a decline of 6.43%[21] - Cash received from the sale of goods and services was ¥509,978,233.79, compared to ¥379,058,583.19, indicating a growth of 34.5%[29] - The company did not undergo an audit for the first quarter report[31]

Group 1 - The core point of the article is that Jin Yi Film (002905) reported significant growth in its financial performance for the first quarter of 2025, with a revenue of 506 million yuan, representing a year-on-year increase of 37.28% [1] - The net profit for the same period reached 106 million yuan, showing a remarkable year-on-year growth of 493.15% [1]