MAOYAN ENT (01896) announced its annual results for the period ended December 31, 2025. The group recorded revenue of RMB4.632 billion, an increase of 13.5% year-on-year. Profit attributable to company owners was RMB564 million, surging by 209.86% compared to the previous year. Basic earnings per share were RMB0.49, and the board proposed a final dividend of HK$0.22 per share.
During the reporting period, the number of films the company participated in releasing and their box office performance remained at the forefront of the industry. The volume of films for which it served as the lead distributor continued to rise, further strengthening its core advantages in promotion and distribution services. Gross Merchandise Value (GMV) for its live entertainment business continued to outpace market growth, enhancing its market competitiveness. The company's profitability improved steadily, and it continued its efforts to deliver returns to shareholders.
As a leading film promotion and distribution company, the group actively participated in the promotion, distribution, and production of films, providing various services for a growing number of domestic and imported titles, thereby further solidifying its promotional strengths. Throughout the year, the group was involved in the promotion, distribution, or production of 73 films, comprising 55 domestic productions and 18 imported films, achieving record highs in both volume and box office coverage for the comparable period.
The group consistently leveraged and enhanced its promotional capabilities, completing systematic upgrades across three dimensions: strategic precision, timing alignment, and infrastructure standardization. By tailoring strategies to film genres and specific characteristics, and capitalizing on its strengths in data analytics and industry experience, the group continuously refined its promotion and distribution approaches. It developed standout strategies such as emotional marketing and content co-creation-driven promotion, contributing to outstanding box office results for the films.
For instance, in promoting "Langlang Shan Xiao Yaoguai," the group focused on everyday life and workplace details, accurately capturing the audience's emotional shift from being observed to feeling understood. For "Luoxiaohei Zhanji 2," it collaborated with over a thousand pop-up themed cinemas and organized hundreds of innovative interactive screening events, creating immersive consumption experiences that resonated deeply with fans and successfully boosted ticket sales. Furthermore, the group played an in-depth role in promoting the Disney animated film "Zootopia 2," which achieved a box office revenue of RMB4.593 billion, helping Hollywood reassess the Chinese film market.
Leveraging its experience and advantages in promotion and distribution, along with continuously improving film selection capabilities and data accumulation, the group participated in the promotion and distribution of 68 films during the period. Among these, it served as the lead distributor for 48 films, a record high. Multiple films distributed or produced by the group achieved excellent box office performances across several key holiday periods.
During the Spring Festival period, "Tangtan 1900," for which the group was the lead distributor and producer, secured the second-highest box office position with earnings of RMB3.612 billion. This marked the fifth consecutive year that a film for which the group was the lead distributor ranked within the top two of the Spring Festival box office. For the May Day holiday, "Shuijiao Huanghou" and "Lie Jin • Youxi," both led by the group in distribution and production, ranked first and second, respectively, in box office earnings for the period. During the Qingming Festival, "Doraemon: Nobita's Painting Adventure" and the group-developed "Shijian Zhizi" placed second and third. In the summer season, "Langlang Shan Xiao Yaoguai" and "Chang'an de Lizhi" ranked second and fourth. For the National Day holiday, "Zhiyuanjun: Yuxue Heping" and "Cisha Xiaoshuojia 2" took the top and third spots. During the year-end holiday season, "Zootopia 2," "Avatar 3," and "Dexian Jinzhi," in which the group was involved in promotion, distribution, or production, occupied the top three box office positions.
Furthermore, several of these films received awards and nominations at prestigious events including the China Film Golden Rooster Awards, the Shanghai International Film Festival, the Macau International Movie Festival, and the Singapore International Chinese Language Film Golden Lion Awards.
Additionally, the group's services for imported films achieved significant milestones. In 2025, it participated in the promotion, distribution, or production of 18 imported films, a record high for the period. Notably, the group provided promotion or distribution services for all five of the year's top-grossing imported films, effectively covering the core box office performance for imported titles. Moving forward, the group plans to further enhance its promotion and distribution capabilities for major imported films.
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