Xin Lang Ke Ji·2025-11-07 10:43Core Insights - The total box office revenue in China for the first three quarters of 2025 reached 41.952 billion yuan, marking a year-on-year increase of 21.12% with total audience attendance at 985 million [1] - Domestic films accounted for 37.359 billion yuan, representing 89.21% of the total box office, while imported films generated 4.5 billion yuan [1] - The number of operational cinemas in China increased to 13,400, a growth of 3.08% year-on-year, with 861 new cinemas and 5,140 new screens added in the first three quarters [1] Company Performance - The seven listed companies focused on cinema and film distribution reported a combined revenue of 15.151 billion yuan, a year-on-year increase of 3.37%, while the net profit attributable to shareholders was -37 million yuan, a reduction in losses by 94.16% [1] - Hengdian Film's revenue grew by 17.28% to 1.895 billion yuan, with a net profit of 206 million yuan, an increase of 1,084.8% [1] - Wanda Film's revenue slightly decreased by 0.61% to 9.787 billion yuan, but net profit surged by 319.92% to 708 million yuan, making it the largest revenue-generating company in the sector [2][3] Cinema Operations - Hengdian Film operated 528 cinemas, with 449 being directly managed and 79 franchised, achieving a box office of 1.621 billion yuan and an audience of 45.693 million [2] - Wanda Film's domestic cinemas generated a box office of 1.88 billion yuan with an audience of 45.048 million, capturing a market share of 14.8% from July to September [3] - Golden Screen achieved a revenue of 914 million yuan, a year-on-year increase of 10.54%, and a net profit of 19 million yuan, up 117.58% [3][4] Financial Highlights - Shanghai Film reported a revenue of 723 million yuan, a growth of 29.09%, and a net profit of 139 million yuan, also up 29.81%, with the highest gross margin of 36.67% among listed companies [4] - Happiness Blue Sea recorded a revenue of 606 million yuan, an increase of 11.87%, but still reported a net loss of 4 million yuan, although this was a significant reduction in losses by 94.12% [4] - Bona Film was the only company to report a net profit decline, with a loss of 1.111 billion yuan, a drop of 213.11%, and a near stagnation in revenue growth at 1.29% [3]