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研報掘金丨東吳證券:維持萬達電影“買入”評級,打造超級娛樂空間

東吳證券研報指出,萬達電影日前舉辦2025年“超級娛樂空間”戰略發佈會,以“超級娛樂空間”爲基點,覆蓋國內國際兩大市場,整合院線、影視內容、戰略投資、潮玩、遊戲五大業務板塊。同時,公佈年度片單,涵蓋衆多電影和劇集項目,例如暑期檔的《惡意》《聊齋:蘭若寺》等,後續還有《流浪地球3》等備受期待的影片;劇集方面,包含科幻、懸疑、愛情等不同類型,如《摺疊城市》《黑夜告白》等。認爲“超級娛樂空間”戰略的逐步落地有望提升非票業務收入和盈利能力,從傳統院線轉型爲綜合娛樂平臺。當前股價對應PE分別爲24/19/17倍,維持“買入”評級。

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