Caixin Global – Latest China News & Headlines

Home >


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

Trending in China: Should Internet Celebrities Be Part of the School Curriculum?
Sequoia China Leads Nearly $100m Round in Storytelling App Kuaidian
Medical Robot Maker Finds Elixir in STAR Board’s Market Reforms
Trending in China: Outrage Ensues as Updated U.S. Student Visa Policies Force International Students into a Dilemma
Tencent’s PUBG Mobile Game Hits $3 Billion Milestone
Luckin Coffee Shareholders Vote to Remove Chairman, Bloomberg Reports
France Won’t Ban But Will Discourage Use of Huawei 5G Equipment, Official Says
Trending in China: ‘Lipstick King’ Li Jiaqi Settles in Shanghai, Prompting a Rethink of ‘Talent’
Tencent Plays in U.S. With California Game Studio Launch
Trending in China: Shenzhen Thinks Only Children Should Get Paid Leave to Look After Their Parents - Cue Heated Debate
German Drugmaker BI Launches Shanghai Center to Harness Chinese Expertise
Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024
Trending in China: Chinese Netizens Tell Indian Prime Minister Modi To ‘Shut The Door On The Way Out’ As He Quits Weibo
Trending in China: If You Can’t Beat Them, Join Them – Why Tencent is Laughing At Itself
Meituan Eyes Robot-Enabled Deliveries with $14 Million Investment in PuduTech
India Ban Could Hit TikTok’s Parent Company to the Tune of $6 Billion
Sina Weibo to Issue $750 Million in Bonds
Embattled Leshi Forced to Sell Smart TV, Livestreaming Trademarks and Swiss Cleaning Carmaker Launch Driverless Street Sweeper
Trending in China: How an ‘Old Godmother’ Took on China’s Internet Giant and Won
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