According to Zhitong Finance APP, Maoyan Entertainment (01896) fell as much as 5% in the afternoon, and as of press time, it was down 4.47% at HK$3.63, with a turnover of HK$3.3634 million.

On the news front, Citi issued a research report stating that the box office performance in the first four days of the 2026 National Day holiday was weaker than during the pandemic period, with total box office of RMB 685 million, down 38% year-on-year, driven by 19 million tickets sold, down 36% year-on-year, and an average ticket price of RMB 36, down 4% year-on-year.

The bank believes that the lack of blockbusters and the substitution effect of travel are the main reasons for the sluggish cinema attendance; in a very weak market and with uncertain audience response, low production cost is the key for films to achieve positive returns.

The bank views the National Day holiday box office as negative for Maoyan Entertainment and others. The bank believes that the key film "The Trace of the Detective" fell short of its expectations, with an estimated box office of RMB 653 million according to Maoyan Professional Edition, or close to breaking even, while "What Do You Mean, Couple" and "Resident Evil: Outbreak Night" may be profitable projects for Maoyan.

Overall, the bank believes that the National Day holiday box office is very weak, which is negative for the film sector.