Damo: Lowering the target price of Maoyan Entertainment (01896) to HK$5.3 to maintain “in sync with the market” rating

The Zhitong Finance App learned that Morgan Stanley released a research report saying that it lowered Maogan Entertainment's (01896) non-IFRS net profit forecast by 12% for this year, mainly due to the increase in impairment losses on accounts receivable mentioned in the financial security report. Furthermore, since the film industry is recovering more slowly than expected, it is believed that the company will continue to face accounts receivable risks next year, so it will lower next year's non-IFRS net profit forecast by 6%. Damo lowered Maoyan Entertainment's target price from HK$6.1 to HK$5.3 to reflect changes in profit forecasts, but maintained a “in sync with the market” rating.