HK Stock Market Move | MAOYAN ENT(01896) falls by more than 6%, hitting a nine-month low. Box office performance during this year's Spring Festival season is weak.

MAOYAN ENT (01896) fell more than 6%, touching a new low of 6.33 Hong Kong dollars since May last year. As of press time, it fell 6.13%, closing at 6.43 Hong Kong dollars, with a turnover of 74.4284 million Hong Kong dollars. On the news front, according to the statistics of the National Film Administration, as of 9:00 on February 24, the box office of the 2026 Spring Festival reached 5.752 billion yuan, with a total audience of 120 million. According to GF SEC, this year's movie box office revenue is not too strong compared to previous years. The box office revenues for the Spring Festival periods of 2019, 2021-2025 were 5.83 billion, 7.78 billion, 6.05 billion, 6.76 billion, 8.15 billion, and 9.51 billion respectively. Guosen Securities believes that the Spring Festival movie box office is relatively weak, falling short of the same period in previous years, with a clear downward trend, with third to fifth-tier cities accounting for over 60%, reflecting that residents' entertainment consumption pays more attention to cost-effectiveness and content attractiveness, and more time during the festival may be diverted to travel and offline activities.