Home » Yuewen Group Rises Nearly 5% and the Spring Festival is Positive for Listed Companies in the Movie Industry

Yuewen Group Rises Nearly 5% and the Spring Festival is Positive for Listed Companies in the Movie Industry

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Yuewen Group Rises Nearly 5% and the Spring Festival is Positive for Listed Companies in the Movie Industry

Yuewen Group rose nearly 5% intraday, and the Spring Festival period is good for listed companies upstream and downstream of the industry chain

On February 14, as of press time, Hong Kong stocks rebounded from a dip, with the Hang Seng Technology Index erasing a decline of more than 2% and turning red. Among them, China Literature Group benefited from the box office of the movie “Hot and Spicy” co-produced by its Xinli Films and China Literature Film and Television. The movie grossed 1.6 billion, temporarily ranking first in the box office of Spring Festival movies, with an increase of 4.82% as of press time.

According to Beacon Professional Edition data, as of 10:13 on February 14, the total box office (including pre-sales) for the 2024 Spring Festival period (February 10-February 17) exceeded 4.9 billion. “It’s Hot”, “Flying Life 2” and “Bear Infested: Reverse Time and Space” are currently among the top three box office releases. Considering that this year’s Spring Festival holiday is one day longer than in previous years and the box office trend is usually high and then low, it is predicted that the total box office of the Spring Festival in 2024 is expected to exceed 8 billion yuan, growing again compared with last year, and there is a high probability of hitting a new record high.

On the day “Hot Hot” was released, Sony Pictures and Xinli officially announced the overseas distribution cooperation of “Hot Hot”. This is also the first film in mainland China that Sony Pictures purchased the global distribution rights without participating in the production. Hou Xiaonan, the producer of “Hot and Spicy” and CEO and President of Yuewen Group, said, “Good stories are a global language. The universal core of loving yourself and being yourself is the basis for “Hot and Spicy” to cross cultures and attract global resonance.”

Wind data shows that in the past 10 years, except for the cancellation of the Spring Festival stalls during the 2020 Spring Festival due to the epidemic, the box office of the Spring Festival stalls before 2022 has grown rapidly, and most of the time has grown at a double-digit rate. After the outbreak, the data in 2022 declined, falling 22.29% year-on-year to 6.049 billion yuan. The Spring Festival period in 2023 will increase to 6.764 billion yuan, and in 2024, the Spring Festival stall continues to grow, which is conducive to the recovery of the industry.

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Taking a detailed look at the top four films currently released during the Spring Festival, the industry chain involves many listed companies. According to Galaxy Securities, the 2024 Spring Festival movie is expected to continue the recovery trend of the film market, and comedy films have a wide audience range, high attendance rates, and good viewing effects, which can better meet the movie-watching demands of the Spring Festival movie audience. The recovery and development trend of the film industry will remain unchanged in 2024. There is still room for continued recovery and growth in the film market. Pay attention to film production, distribution and broadcasting, high-quality content, theater chains, and online ticketing services that benefit from the rebound in demand.

The overall outlook for the film industry, buoyed by successful releases during the Spring Festival period and increasing interest in movie-watching, is positive for both film producers and companies within the industry chain. As the global film market continues to recover, investors may find opportunities for growth in related sectors.

(Source of article: China Business News)

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