Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

TRENDING
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Tencent Posts 35% Profit Rise on Reviving Game Releases
LATEST
Cathay Pacific CEO Hogg Resigns Amid Hong Kong Protests
Ninebot’s New Scooter Can Drive Itself Back to Charging Stations
Oppo to Unveil New Smartphone With 20x Zoom
Chinese Companies Usher in Age of Synthetic Meat
Record-Smashing Chinese Animation to Get Overseas Releases
WTO to Arbitrate China’s Complaints About U.S. Solar-Cell Tariffs
Vipshop Stock Soars After Q2 Results Beat Expectations
Japan Replaces China as Largest Holder of U.S. Government Debt
Huawei’s First 5G Commercial Phone Gets Warm Response Despite Limited Networks
AI Startup Plans IPO at Value of at Least $1 Billion — in China
Alibaba Q2 Revenue Jumps 42%, Beating Estimates But Slower Than Year Earlier
Baidu’s $66 Billion Dive Knocks It Out of China’s Internet Top 5
Beijing Grants Foreign Investors Wider Access to Entertainment Industry
Tencent-Backed Maoyan Turns Profit on Strong Ad Growth
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese Internet Sector Grows 17.9% Year-on-Year: MIIT
Xiaomi Receives Licenses for Second 5G Phone
Coal Industry Looks to Robots for Increased Safety
No Investor Love for Tencent, Lenovo and Luckin in Latest Reports
Maoyan Sees Share-Price Estimate Slashed After Market Downturn

By Liu Shuangshuang and Tang Ziyi / Jul 17, 2019 05:03 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Analysts lowered their share price target for Maoyan Entertainment, China’s biggest online movie ticketing platform, after the domestic film market downturn in the first half of this year.

China International Capital Corp (CICC) reduced its share price forecast for Maoyan by 26.6% to HK$19.3 ($2.47), analysts wrote in a research report on Tuesday.

The Chinese mainland raked in 31 billion yuan ($4.5 billion) in the first half this year, down 2.7% year-on-year. The market slowdown, which is partly blamed for fewer films being produced and tightened tax supervision, dragged down Maoyan’s ticket sales, according to the report.

China kicked off a campaign to regulate tax payments in the film and TV industry last year after punishing the country’s highest-paid actress for tax evasion.

Shares of Maoyan Entertainment slid to HK$13.60 by close of trade on Wednesday, down over 1.3%.

Related: Four Things to Watch in China’s Film Industry

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.