20240115_华鑫证券_传媒行业2024年春节档展望：院线电影从修复到新增可期_21页.pdf

2024 2024 01 15 SAC S10505211100012 2024 2024 6 2024 AI/MR 2024 WUAZuNtOtQnMrPtQnQqPpO7NcMaQsQnNnPrNfQmMmNlOpOrM7NqRmMNZpMpQMYpMmR 3 wind 2024-01-12EPS PE 2022 2023E 2024E 2022 2023E 2024E603103.SH 17.63-0.50 0.46 0.57-35.26 38.33 30.93 300133.SZ 5.49 0.21 0.27 0.32 26.14 20.33 17.16 001330.SZ 7.17-0.05 0.22 0.36-141.00 32.59 19.92 300251.SZ 8.29-0.24 0.22 0.36-34.54 37.68 23.03 002739.SZ 12.54-0.88 0.56 0.76-14.25 22.39 16.50 4 目 录CONTENTS2.2024 3.1.5 01 7 2013 3.6%2022 20.2%2018 2023 30%2023 62%2023 2.02 2018 14%2023 22%2 2023 6 11 1 81.1 2023 13%12.4%2023 62 13%12.4%2013 2023 2013 8 2023 62 2021 72 2023 13%2021 2 TOP3 81.3%2013 3.6%2022 20.2%2023 12.4%2018 2019 9.7%9.3%2021 2022 16.7%20.2%app 81318313254.655.00.007255.162.064.8%39.8%71.5%4.8%69.1%0.8%-100.0%30.2%-23.1%13%-120.0%-100.0%-80.0%-60.0%-40.0%-20.0%0.0%20.0%40.0%60.0%80.0%100.0%010203040506070802013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YOY3.6%4.3%4.1%6.8%6.2%9.7%9.3%0.0%16.7%20.2%12.4%0.0%5.0%10.0%15.0%20.0%25.0%2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 91.2 2023 13%2023 1.29 13%10%2019 2023 2020 2023 1.29 13%2023 2019 1.32 2023 12.98 10%2023 47.9 0.62%2 2023 6 11 app 41.648.2 48.247.9015.87%0.00%-0.62%-4%-2%0%2%4%6%8%10%12%14%16%18%384042444648502019 2021 2022 2023 YOY55725562 30.2%-23.1%13%-30%-20%-10%0%10%20%30%40%010203040506070802019 2021 2022 2023)YOY1.3221.6041.1451.29321.4%-28.7%13%-40%-30%-20%-10%0%10%20%30%0.0000.5001.0001.5002.0002019 2021 2022 2023)YOY101.3 2023 2018 2023 30%2023 2023 app 111.4 2023 25-29 35 2023 62%25-29 35 2023 2023 2.02 2018 14%2023 22%app 02 2024 13 2019 30 2024 2 2024 2 2024 142.1 2024 6 2024 6 2024 1 13 2024 2 3 2 app/8 22/7 15 12.817.5 2/7 16/1 20/6/10 48 80.889.5152.2 2024 IP IP 2024 2017 2024 IIP B 2024 2 10 39.5 2024 1 13 24.8%15.4%53.5%IP IP app 03 172024 2024 2024 1 2 6 2024 2024 AI/MR 2024 2024 3 2024 18 10 wind 2021 11 2021 11 20/12 A 300 1 20%2 10%20%3-10%10%4 10%2-10%10%3-10%报告编号:240114145358