万达电影发布2024年业绩预告 计提减值有望“轻装上阵”

Core Viewpoint - In 2024, China's film market is entering an adjustment period, with total box office revenue of 42.5 billion yuan and approximately 1.01 billion viewers, both showing a decline of over 20% year-on-year [1] Group 1: Company Performance - Wanda Film expects a net profit loss of 850 million to 950 million yuan for 2024, primarily due to high fixed costs and asset impairment provisions [2][4] - Excluding asset impairment factors, Wanda Film anticipates an operational loss of about 100 million to 150 million yuan, indicating better performance than the overall industry [2][4] - The company has a significant asset impairment provision of approximately 700 million to 800 million yuan, mainly related to goodwill and inventory [2][3] Group 2: Industry Context - The overall trend in the film industry indicates that major A-share cinema companies are also forecasting losses for 2024 due to the industry's downturn [2] - The top ten films in 2024 accounted for 46% of the total box office, highlighting the increasing risk and competition in film investment [6] Group 3: Strategic Developments - Wanda Film has strengthened its content development and investment capabilities under new management, which is expected to reduce investment risks in film content [4][6] - The company has maintained its position as the industry leader, with a total box office of 7.327 billion yuan in 2024, accounting for 17.24% of the market [5] - Collaborations with new shareholders have enhanced Wanda Film's content production and distribution capabilities, leading to successful releases of several films and series [6][7]