WANDA FILM(SZ:002739) Huaxin Securities·2026-01-03 08:10Investment Rating - The report maintains a "Buy" investment rating for Wanda Film [1] Core Insights - Wanda Film is focusing on enhancing its content and leveraging AI and IP to deepen its entertainment space strategy [5][6] - The company has a robust content pipeline for 2026, with various films and series scheduled for release, indicating strong content reserves [4] - The integration of technology in cinema experiences is expected to attract users and transform theaters into cultural social platforms [4] Summary by Sections Market Performance - The report highlights the performance of Wanda Film compared to the CSI 300 index, indicating a relative performance trend [2] Business Operations - Wanda Film has completed an investment in the interactive entertainment brand "Pailifang," which will enhance its cinema offerings and social engagement [5] - The company is actively embracing AI and IP innovations, including the launch of a digital rights platform and the development of AI interactive chips for toys [6] Financial Forecast - Revenue projections for 2025, 2026, and 2027 are estimated at 140.3 billion, 153.1 billion, and 166.9 billion yuan respectively, with net profits expected to reach 9.78 billion, 12.67 billion, and 15.20 billion yuan [7][10] - The earnings per share (EPS) are forecasted to be 0.46, 0.60, and 0.72 yuan for the same years, with corresponding price-to-earnings (P/E) ratios of 24.5, 18.9, and 15.7 [7][10]