Core Viewpoint - Cat's Eye Entertainment reported a mixed performance in its interim results, with revenue growth but a significant decline in profit [1] Financial Performance - Revenue for the period was approximately 2.472 billion yuan, representing a year-on-year increase of 13.9% [1] - Net profit for the period was 178.5 million yuan, a decrease of 37.3% year-on-year [1] - Adjusted net profit was about 235 million yuan, down 33.2% year-on-year [1] Revenue Drivers - The increase in revenue was primarily due to higher earnings from entertainment content services in the first half of 2025 [1] - The company achieved a record number of films under its control for promotion/distribution during the same period, with some films performing exceptionally well at the box office [1] Analyst Insights - Bank of America Securities noted that Cat's Eye Entertainment's interim performance met expectations, with robust revenue growth driven by strong box office performance [1] - Despite the revenue increase, profits fell by 37% due to poor box office performance of some films in the second quarter and increased investments in live performances and IP businesses [1] - The firm is optimistic about a profit recovery trend in the second half of the year, citing ongoing market recovery and a rich pipeline of films set to be released [1] - The target price for Cat's Eye Entertainment was raised from 9.3 HKD to 9.7 HKD, maintaining a "buy" rating [1]
猫眼娱乐午后跌超4% 上半年营收增长但纯利下滑超三成 美银看好下半年盈利复苏趋势