MAOYAN ENT (01896) saw its shares rise more than 4% in late trading. At the time of writing, the stock was up 3.76%, trading at HK$7.46, with a turnover of HK$99.10 million. On the news front, pre-sales for the 2026 Spring Festival film season began on February 9. By 3:00 PM on February 10, pre-sale box office revenue for new releases in the 2026 Spring Festival period had already exceeded 100 million yuan. Galaxy Securities noted in a research report that all films scheduled for the 2026 Spring Festival season are domestic productions, including several based on popular domestic intellectual properties. The report suggested that the strong pre-sale performance is closely linked to audience recognition of these IPs, and the continued development of high-value IP sequels is expected to encourage the emergence of more outstanding new IPs. Public information shows that in the first half of 2025, the number of films primarily promoted or distributed by MAOYAN ENT reached a record high for the same period, with several of its participating films achieving outstanding box office results. The company was involved in the promotion, distribution, or production of 29 domestic films and 9 imported films. Among these, it took the lead in distributing 24 titles and developed four films, both figures representing historic highs for the period. For the 2026 Spring Festival season, MAOYAN ENT is participating in the production of films such as "Pegasus 3."