MAOYAN ENT (01896) has announced that the group expects its revenue for the 2025 fiscal year to be between approximately RMB 46 billion and RMB 47 billion. This represents an increase of about 12.7% to 15.1% compared to the revenue of RMB 40.82 billion for the fiscal year ended December 31, 2024 (2024 fiscal year). The group also forecasts that the net profit attributable to owners of the company for the 2025 fiscal year will range from approximately RMB 5.4 billion to RMB 5.9 billion. This signifies a substantial growth of approximately 196.9% to 224.4% compared to the net profit attributable to owners of RMB 1.82 billion in the 2024 fiscal year.

The board of directors attributes this expected significant improvement in the group's profitability primarily to the following factors: (1) According to data from the National Film Administration, the total national box office revenue for 2025 reached RMB 518.32 billion, a year-on-year increase of 21.95%, with moviegoer attendance reaching 1.238 billion, up 22.57% year-on-year. Notably, the Spring Festival period set a new record with a box office of RMB 9.514 billion, while the New Year period achieved the second-highest box office in its history. During the 2025 fiscal year, the group continued to strengthen its core competencies and advantages in film promotion and distribution services, as well as in production/independent development. Key metrics, including the number and box office share of films the group participated in promoting/distributing/producing and the number of films where it acted as the lead distributor, reached record highs for the same period. Furthermore, several films achieved excellent critical acclaim and box office performance. For example, the film "Detective Chinatown 1900," for which the group was the lead distributor and producer, grossed over RMB 3.6 billion at the box office, ranking third in the 2025 domestic box office. Other films, "Little Monsters of Langlang Mountain" and "Lychee of Chang'an," generated box office revenues exceeding RMB 1.7 billion and RMB 600 million respectively, securing the second and fourth positions in the summer box office rankings. (2) The national performance market exhibited vigorous growth in 2025. According to the "2025 National Performance Market Brief" released by the China Association of Performing Arts, the box office revenue for commercial performances nationwide in 2025 was RMB 61.655 billion, a year-on-year increase of 6.39%, with the number of attendees growing by 4.22% year-on-year. The group continued to invest in and develop its live entertainment business, achieving a record-high Gross Merchandise Volume (GMV) that significantly outpaced industry growth rates, thereby further enhancing its competitive position. It is noteworthy that in overseas regions, the range of performance categories serviced by the group has continued to expand, now encompassing large-scale concerts, sporting events, theater performances, and talk shows. Both the GMV and sales revenue from the group's self-promoted performance business in overseas regions achieved breakthrough, rapid growth during the 2025 fiscal year. (3) Throughout the 2025 fiscal year, the group persistently implemented lean management practices. On one hand, it continued to focus on the development and investment in high-quality film content, thereby further mitigating risks associated with content investments. Simultaneously, the group continuously optimized its accounts receivable management and actively pursued the collection of long-overdue payments. During the 2025 fiscal year, it successfully recovered corresponding amounts of overdue payments and continued to deepen cost control measures, contributing to an overall improvement in the group's net profit margin.

As a leading "technology + full entertainment" service provider, the group remains committed to strengthening its infrastructure capabilities and service offerings. It will continue to deeply explore and deliver high-quality content with positive values, aiming to further accumulate long-term value.