Morgan Stanley lowered its forecast for mainland box office revenue in 2026 due to weaker-than-expected box office performance in April and during the May Day holiday. Consequently, it adjusted its earnings forecasts for MAOYAN ENT, reducing revenue forecasts for 2026 to 2028 by 8%, 3%, and 2%, and cutting adjusted net profit forecasts by 12%, 13%, and 13%. Despite these adjustments, the broker maintained an Equalweight rating on MAOYAN ENT, highlighting its strong position in film distribution and potential for growth in film production, albeit with higher risks.
