Tencent-Backed Ticketing Firm Maoyan's Drop Despite Smaller Losses
Zhang Yushuo
/SOURCE : yicai
Tencent-Backed Ticketing Firm Maoyan's Drop Despite Smaller Losses

(Yicai Global) March 27 -- Shares of China's largest online ticket platform Maoyan Entertainment [HK:1896] fell 0.13 percent in morning trading to HKD15.98 (USD2), while the market overall was up 0.16 percent.

This drop came despite the company narrowing its losses to CNY137 million (USD20 million) last year, down 3.7 percent from a year earlier, as it announced in its earnings report for the year, which it released yesterday.

The Beijing-based firm gained CNY3.75 billion revenue last year, up 47.4 percent annually, to which the online ticketing business contributed CNY2.3 billion, up 53 percent. Maoyan claims 60 percent of China's online ticketing business. 

Its content service contributed CNY1 billion in revenue, an increase of 25 percent per year. Maoyan has participated in the production and distribution of hot films like Monster Hunt 2, Dying to Survive, Hidden Man, and also started TV series and online drama businesses.

Editor: Ben Armour

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Keywords: Maoyan Entertainment , earnin report