"Man Jiang Hong"'s 7-day revenue of 70 million yuan failed to drive the share price of Guangguang Media to a sharp drop

On January 29, the first trading day of the Year of the Rabbit, A-shares opened with a good start, with the Shanghai Composite Index rising 1.35% to 3,308.87 points. All sectors were in the green, with the automobile, power equipment, and food and beverage sectors leading the gains, with more than 4,500 stocks rising.

However, what is unusual is that although the blockbuster films of the Spring Festival are still making a lot of money, film and television stocks have continued to fall. As of the midday close, the film and television sector fell -3.98%.

The constituent stock Light Media took the lead, falling by more than 9%, becoming the "king of decline" among film and television stocks. Light Media is one of the investors in the currently popular film "Man Jiang Hong".

On the evening of January 29, Light Media announced that the film "Red River", in which its wholly-owned subsidiary participated in the investment, was released in mainland China for 7 days, with cumulative box office revenue of approximately 2.926 billion yuan. As of January 28, the company's operating income from the film ranged from approximately 63 million to 70 million yuan.

It can be said that the popularity of "Man Jiang Hong" brought rich profits to Light Media, but while its performance continued to soar, its stock price continued to fall, which also confused many investors.