2024-07-12 17:30:52 ET
Summary
- IMAX China is rated as a Hold after analyzing recent developments relating to its biggest client and evaluating the company's expected first-half financial performance.
- IMXCF has announced an extension of its collaboration with its major customer, Wanda Film, and this has positive read-throughs for the company's long-term growth outlook.
- IMAX China is likely to witness slower growth in 1H 2024, taking into account China's poor box office performance and its parent's prioritization of other geographical markets.
Elevator Pitch
I rate IMAX China Holding, Inc. ( IMXCF ) (1970:HK) stock as a Hold.
IMXCF was referred to as a "subsidiary of IMAX Corporation ( IMAX ) and the market leader in theater screening technology in China" in my prior August 7, 2020 update . IMAX Corporation currently holds a 71.5% equity stake in IMAX China as per S&P Capital IQ data....
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For further details see:
IMAX China: Spotlight On Key Client And Upcoming Results (Rating Downgrade)