研报掘金｜西部证券：首予大麦娱乐“买入”评级 看好现场娱乐高景气的持续性

Group 1 - The core viewpoint of the article is that West Securities has issued a research report indicating that Damai Entertainment is well-positioned in the high-growth sectors of live performances and IP derivatives, and it is optimistic about the sustainability of high demand in live entertainment [1] - On the demand side, there is a resonance between personal and social needs, leading to an increase in the frequency of attendance at performances [1] - The ticketing business provides a stable foundation for growth, while Alibaba's Youku is expected to offer performance flexibility, benefiting from the ongoing recovery and structural upgrade in offline entertainment consumption [1] Group 2 - West Securities forecasts that Damai Entertainment's adjusted net profits for the fiscal years 2026, 2027, and 2028 will be 1.06 billion, 1.354 billion, and 1.577 billion yuan respectively [1] - The company has been given an initial "buy" rating by West Securities [1]