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A股異動 | 中國電影跌近4% 行業逆風拖累業績增長
格隆匯 10-30 12:16
格隆匯10月30日丨中國電影(600977.SH)跌近4%,報13.37元,成交8108萬元,總市值249.6億元。中國電影公佈1-3Q19業績:營業收入67.27億元,同比下降2.8%;歸母淨利潤8.74億元,同比下降32.7%,主要由於去年同期確認了中影巴可增持帶來的4.54億元投資收益;扣非歸母淨利潤7.83億元,同比增長2.4%。中金隨後發佈研報稱,三季度業績小幅低於預期。 中金認為行業低迷是公司收入同比下降的主因。3Q19國內票房總額166.58億元(含服務費),同比下降1.5%。票房大盤收縮對公司的影片發行及放映收入均造成一定壓力。另一方面,影視製作行業受到監管趨緊、下游控價等多種因素影響,開機項目數量同比顯著下降,同時影院的擴張速度亦有所放緩。我們認為公司的影視製作和影視器材業務收入因此受到一定拖累。此外,公司於3Q18並表中影巴可,根據會計準則,並表後中影巴可對公司控股影院的銷售收入被內部抵消。中金判斷3Q19中影巴可對內銷售佔比同比提高可能也是收入下降的原因之一。
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