HK Stock Market Move | Concept stocks in the film industry saw the biggest drop, as the box office during the Spring Festival dropped by about 40% compared to the previous year. Attendance and average ticket prices were also weak.

Movie concept stocks lead the decline, as of the time of publication, MAOYAN ENT (01896) fell by 6.86%, closing at HK$6.38; HUANXI MEDIA (01003) fell by 5.26%, closing at HK$0.27; IMAX China (01970) fell by 2.95%, closing at HK$8.23. In terms of news, the total box office for the 2026 Spring Festival period ended at 5.752 billion yuan, a decrease of about 40% compared to the previous year; the number of moviegoers decreased by 36.2% compared to the same period last year, and the average ticket price decreased by nearly 3 yuan to 50.8 yuan. Huaxin Securities stated that, except for "Lost in Russia 3" and "The Battle at Lake Changjin", the performance of other films during the 2026 Spring Festival period did not meet media expectations. In the decision-making factors for audience choice, content quality is crucial, and the industry still needs to focus on product polishing, improve quality control, and industrial standards. Soochow also stated that there were more screenings during the 2026 Spring Festival period, but faced lower box office and number of moviegoers. As of the fifth day of the Lunar New Year, the total box office for this year's Spring Festival was only 43.6 billion yuan, lower than the average of 61 billion yuan from 2021-2025 during the same period. However, the lower box office during the Spring Festival period does not necessarily mean a weakening of consumer demand, but rather more supply-side factors.