NCMI Latest Report

Performance Review

National Cinemedia's total operating revenue in 2024 was RMB86.3 million on December 26. Although there is no specific comparison with the previous data, it can be inferred that the change in total operating revenue will directly affect the company's profitability and cash flow situation. Due to the overall poor performance of the Chinese movie market in 2024, National Cinemedia's total operating revenue may face a downward pressure compared to the previous year.

Key Data in the Financial Report

1. According to the performance forecast, National Cinemedia is expected to have a net profit attributable to parent shareholders of -120 million to -90 million yuan in 2024, indicating a loss trend.

2. The box office of the Chinese movie market in 2024 was RMB42.502 billion, down 22.6% from RMB54.915 billion in 2023.

3. The number of viewers decreased to 1.01 billion, down 22.3% year-on-year, indicating insufficient market demand.

4. National Cinemedia is currently preparing several blockbuster movie projects and expects to launch them in the next few quarters, which will support the company's performance.

Peer Comparison

1. Industry-wide analysis: The movie industry has been recovering from the post-pandemic stage, with its overall operating revenue gradually recovering. However, the rise of streaming platforms and changes in consumer viewing habits have posed challenges to the growth of traditional cinemas' operating revenue.

2. Peer evaluation analysis: If NCMI's operating revenue remains stable or grows, it indicates that it performs well in the market competition. If the operating revenue decreases, it needs to be paid attention to the changes in market share and the effectiveness of its business strategy.

Summary

National Cinemedia's total operating revenue in 2024 faces challenges, mainly due to the overall poor performance of the movie market. Although the company has made efforts in new film projects and marketing strategies, the overall industry environment is tough, and it needs to pay close attention to market changes.

Opportunities

1. By launching new movie projects, National Cinemedia is expected to attract audiences and increase its operating revenue.

2. Expanding NCM Boost, the digital product of Audience Accelerator, can enhance advertising coverage and possibly increase advertising revenue.

3. Exploring new businesses such as cinema live streaming and reserved screenings can enrich user experience and enhance value-added services.

Risks

1. Insufficient overall market demand may lead to a continuous decline in operating revenue.

2. The intensified competition of streaming platforms may further divert audiences.

3. Economic and pandemic-related uncertainties may affect audience's consumption willingness and travel frequency.

Through the above analysis, we can see that National Cinemedia faces both opportunities and risks in the current economic situation and market environment, and its strategy adjustment in the future will be crucial to its turnaround.