Maoyan Entertainment (HKG:1896) forecasts its net profit to fall 78% to 84% to between 150 million yuan and 200 million yuan in 2024 from 907.8 million yuan in 2023, according to a Thursday filing with the Hong Kong bourse.
Revenue is expected to decline 13% to 15% to between 4.05 billion yuan and 4.15 billion yuan from 4.76 billion yuan in the previous year.
The decline at the entertainment company is attributable to a 23% decline in China's box office sales to 42.5 billion yuan and the 22% decrease in number of tickets sold to 1.01 billion, the filing said.
Maoyan plans to release full-year results by mid-to-late March 2025.
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