金吾财讯 | 中信建投发布研报指，阿里影业(01060)作为国内头部IP授权和运营平台，结合阿里巴巴集团的全业务线的综合服务能力，可以持续获得海外内头部IP的运营权，丰富IP储备。在三里鸥、宝可梦、蜡笔小新等经典IP作为业务基石的前提下，通过签约诸如《黑神话》、Chiikawa等海内外新IP，为公司带来业绩增量，持续巩固公司的全球领先授权代理商的地位。
该行指，公司核心电影业务有望受益市场回暖。2025年1至2月的全国综合票房受益《哪咤2》超预期而大幅回暖，我们预计一季度全国票房预计将超250亿元，大超历史记录，公司票务业务有望受益。而展望全财年，公司大制作、强卡司电影储备丰富，有望在市场回暖下获得良好收益。
该行预测，计2025-2027财年，公司实现归母净利润6.15/8.11/9.26亿元，同比增长116.05%/31.88%/14.16%，2025年2月13日收盘价对应PE为24.91/18.89/16.54x，维持“买入”评级。
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