万达电影(002739) - 2024 Q2 - 季度业绩预告

Financial Performance - The company expects a net profit attributable to shareholders of between 100 million and 130 million yuan for the first half of 2024, a decrease of 69.25% to 76.35% compared to the same period last year, where it was 422.76 million yuan [3]. - The net profit after deducting non-recurring gains and losses is projected to be between 71 million and 101 million yuan, down 75.67% to 82.90% from 415.20 million yuan in the previous year [3]. - The basic earnings per share is estimated to be between 0.0459 yuan and 0.0597 yuan, compared to 0.1940 yuan per share in the same period last year [3]. Market Trends - The overall film market in China saw a decline in box office revenue of 28.7% year-on-year in Q2 2024, totaling 7.42 billion yuan, which is only 58.5% of the box office from the same period in 2019 [6]. - The number of moviegoers in Q2 2024 was 180 million, a decrease of 31.2% year-on-year, representing only 55.8% of the attendance in the same period of 2019 [6]. - Domestic cinema box office revenue for the company reached 3.13 billion yuan, a year-on-year decline of 14.5%, with attendance dropping by 14.3% to 75 million [6]. Future Outlook - The company anticipates a recovery in the film market in the second half of 2024, supported by a rich lineup of upcoming films, including "抓娃娃" and "白蛇：浮生" scheduled for release on July 16 and August 10, respectively [6]. - The company has a diverse film slate for the second half of 2024, with several titles expected to boost performance, including "误杀 3" and "有朵云像你" set to release later in the year [6]. Operational Challenges - The company is facing challenges due to high fixed costs such as rental and depreciation, which contributed to losses in the cinema segment during Q2 2024 [6]. - The company has communicated with its accounting firm regarding the preliminary performance forecast, and there are no significant disagreements [4].