(Original title: Avatar Sequel Release Scheduled for December! IMAX China Leads Film Concept on Hong Kong Stock Market)
Financial Associated Press News November 23rd (Editor Hu Jiarong) Today’s news of the Avatar sequel aroused market attention, causing Hong Kong film stocks to rise slightly. As of press time, Lemon Pictures (09857.HK), IMAX China (01970.HK), Maoyan Entertainment (01896.HK) and Alibaba Pictures (01060.HK) were up 11.98%, 8.29%, 4.52% and 3.66%. respectively.
Note: Trend of film titles
According to 20th Century Pictures’ official Weibo, ‘Avatar: The Way of Water’ is expected to release on December 16th.
The Chinese film said on the interactive platform that the film “Avatar: The Way of Water” has been finalized and is expected to release in China on December 16th. Specific ticket information can be requested through the “China Movie Link” APP. According to national policies, imported films are introduced by China Film Group Corporation, the controlling shareholder of the company, and the company participates in domestic distribution.
According to public information, “Avatar: The Way of Water” is directed by James Cameron, starring Sam Worthington, Zoe Saldana, Sigourney Weaver, Kate Winslet, The sci-fi film starring Michelle Yeoh, David Thewlis, Vin Diesel, etc. will be released in North America on December 16, 2022.
As one of the most influential film franchises in the history of cinema, ‘Avatar’ caused a phenomenon-wide craze around the world after its release in 2009, dominating the global box office chart with nearly $3 billion in box office sales. USA.
The re-screened version of Avatar once attracted attention
The Avatar news prompted a sharp rebound in film and television stocks, such as IMAX China, which is listed on the Hong Kong Stock Exchange. .
In fact, IMAX China has a certain relationship with Avatar. According to the company’s previous financial report, “Avatar” was shown on the IMAX screen 12 years ago with great success, which accelerated the company’s network expansion in China and made the company the largest high-quality entertainment network. When the film was re-released earlier this year, IMAX grabbed 31 percent of the opening weekend box office with just 1 percent of screens.
IMAX China has also expressed a desire to see more Hollywood titles approved for release in China, including Thor, Doctor Strange, Black Panther, new sequels such as Jurassic World and the sequel to Avatar.
Film and television in the first half of the year were greatly affected by the epidemic, and IMAX China’s stock price will be discounted by half this year
However, many film and television companies, including IMAX China, were affected by the outbreak in the first half of the year. According to IMAX China’s mid-year report this year, the company achieved revenue of $32.713 million, a year-on-year decline of 38.78%; the box office reached $76.3 million, a year-over-year decline of 43%. Among them, the single-screen box office decreased by 47.4% year-on-year to $100,000.
The impact of the epidemic has also been passed on to the share price. IMAX China fell from HK$12.06 at the start of the year to HK$5.62 today, a decline of 50.04% over the period. Also on November 4 this year, the stock price reached HK $ 4, the lowest price of the year.
Note: IMAX China’s trend since the beginning of the year
CITIC Construction Investment pointed out that the recent news of the recovery of domestic films and the introduction of imported films may be a signal for the supply side to recover, but the demand side still needs blockbuster films to stimulate demand of watching movies. If supply and demand recover simultaneously, target beneficiaries are expected to include film companies benefiting from the recovery in film viewing demand and leaders benefiting from the broader market performance.
