Disturbed by the epidemic and other factors, few blockbusters were launched in the summer in the film market, and the poor box office directly affected the performance of relevant listed companies in the film industry in the third quarter. From the third quarterly report, the performance of 12 listed film companies showed the characteristics of "ice and fire". Most of the content end companies realized profits due to revenue recognition and other reasons, while the cinema companies all lost money. The above dilemma may be improved in the fourth quarter. Insiders pointed out that with the landing of Changjin lake on the national day, the domestic box office in October hit the second best record in the history of the schedule. At the same time, a number of Hollywood films successively landed in domestic cinemas in late October, and a number of films have also announced the establishment of new year's day and Spring Festival. At the end of the year, the film market is ready to go and is highly expected. Cinema companies generally suffer losses The film market fell into a trough in the third quarter of this year. The domestic film box office reached 7.3 billion yuan (including service fees), while the box office in the same period in 2018 and 2019 was basically around 16.9 billion yuan. In the third quarter of 2020 affected by the epidemic, cinemas across the country did not resume business until the end of July, with a box office performance of 6.053 billion yuan in two months. The performance of listed companies at the cinema end fully reflects the cold and warm of the film market. As the leader of domestic cinemas, Wanda film lost a net profit of 348 million yuan in the third quarter. Other companies also "sympathize with each other". Shanghai film lost 18.5821 million yuan, Chinese film lost 43.6195 million yuan, Jinyi film and television lost 129 million yuan and Hengdian film and television lost 136 million yuan. For the reasons for the loss, the explanation of Jinyi film and television is representative. The company said that in the third quarter over the years, due to the summer file, it has become an important pillar of the annual box office. The first domestic box office "war wolf 2" and the third "Nezha's magic child came from the summer file. However, in the third quarter of 2021, the film industry continued to be impacted by multiple factors such as rainstorm, typhoon and epidemic situation, resulting in the withdrawal of key films in the summer, including the high-profile Changjin lake, resulting in the continuous downturn of the summer market. Compared with the third quarter of 2019, the box office in the third quarter of 2021 decreased by 57.30%, less than half of the box office in the third quarter of 2017 and 2018, the lowest in the past eight years. Wanda film also admitted that since July, local outbreaks have occurred in many places, and more than 3000 cinemas in the country have been suspended. At most, nearly 200 cinemas under Wanda film in China have been closed. As of September 30, 40 cinemas are still closed. Finally, in the third quarter, the overall ticket and real estate sales nationwide were only 6.65 billion yuan (excluding service fees) and 200 million film viewers, a significant decrease of 57.3% and 58.5% respectively compared with the same period in 2019, which had a great impact on the company's performance. Due to the timing of revenue recognition, the performance of content end companies in the third quarter was generally good. The net profit of ray media in the third quarter was 68.3138 million yuan, a year-on-year increase of 58.32%, but the growth slowed significantly month on month. The net profit of the company in the first three quarters increased by 767.66% year-on-year. St beiwen achieved a revenue of 137 million yuan in the third quarter, a year-on-year increase of 1746.48%, and the net profit attributable to the parent company reached 17.3395 million yuan. Among them, St beiwen's revenue in the third quarter accounted for 86% of the revenue in the first three quarters, benefiting from the recognition of project revenue such as Hello, Li Huanying and the king of bathing in the reporting period. Some companies sell off their assets. Huayi Brothers had a net profit of 470 million yuan in the third quarter, but a loss of 118 million yuan after deducting non net profit. According to the company, non recurring gains and losses mainly include gains and losses on the disposal of long-term equity investments and financial assets, as well as gains and losses on changes in the fair value of financial assets caused by changes in share prices. The box office in October exceeded the sum of the third quarter After a quiet summer, the national day brought great changes to the domestic film market in the fourth quarter. The total box office of the National Day this year reached 4.389 billion yuan (including service fees), second only to the box office of 4.466 billion yuan in the same period in 2019, ranking second in the box office of the National Day in Chinese film history. Among them, "Changjin Lake" ranked first among the National Day films with a box office score of 3.127 billion yuan. Since its release, it has achieved a good harvest of word-of-mouth and box office, breaking 16 film history records. Huatai Securities research report pointed out that the overall performance of the National Day film market this year is good, mainly driven by Changjin lake. The film has a good reputation. Its production lineup and story theme have aroused widespread concern in the society. The attendance rate and film arrangement rate are at a high level, which supports its box office to maintain a high level. There is a rare counter trend rise in the one-day box office, becoming the champion of the national day box office. With the help of Changjin lake, the ticket room in October reached 7.577 billion yuan (including service fee), exceeding the total box office from July to September. It is worth noting that with the support of high-quality content, the operating performance of listed companies at the cinema end has been actively improved. The core data such as inferior viewers of Wanda films continued to improve, promoting the increase of total box office revenue and market share. Under the condition that the box office market of the National Day this year is the same as that of the same period in 2019, the box office performance of Wanda film's National Day is 550 million yuan, an increase of 6.2% over the same period in 2019, realizing a rise against the trend and exceeding market expectations. Meanwhile, the overall market share of the company increased by 1 percentage point over 2019 to 14.44%. Film market accelerates recovery Insiders pointed out that "old films" such as "Changjin Lake" are still giving full play to the waste heat at the box office, while heavy Hollywood films such as "dune" and "007: no time to die" have filled the film viewing market one after another. Many films have been announced to be fixed for the new year and the Spring Festival at the end of the year. After the "cold winter" in the third quarter, the film market is accelerating its recovery. According to the lighthouse professional edition, as of the evening of November 7, the box office of 007: no time to die, which was released for 10 days, had reached 309 million yuan, and the box office of dune, which was released for 17 days, had reached 235 million yuan. With the distribution advantages of Hollywood films, the performance of Chinese films in the fourth quarter is more expected by the market. In addition, the company reserves nearly 50 film creation projects, including railway hero, hug you through the cold winter and super family. Among them, "hug you through the cold winter" is scheduled to be released on December 24. The film shows the choices and responsibilities of ordinary people under the epidemic situation, which is easy to attract attention and resonance. Huayi Brothers are expected to usher in the highlight moment this year. The film "railway hero" produced by the company will be released on November 19. The film includes powerful actors such as Zhang Hanyu and Fan Wei. At present, the number of people who want to see cat's eye and ticket shopping has exceeded 170000, becoming an important domestic film at the end of the year. Its animated film "rock Tibetan mastiff: blue light" is expected to be released in the fourth quarter of this year. The film of ray media is unilateral. The itch of a year, which is mainly produced by ray media, has been scheduled to be released at the end of the year, while 8 films such as Wen Ruyan, sniper, rush out of the earth and firm as a rock have not been scheduled yet. (outlook new era)