(Yicai) Aug. 27 -- Enlight Media’s stock price fell despite the producer behind Chinese animation blockbuster Ne Zha 2 reporting record-high earnings for the first half as a result of a jump in income from film and television productions.

Enlight Media [SHE: 300215] closed 4.8 percent lower at CNY6.31 (88 US cents) a share today, while the broader Shenzhen market lost 1.4 percent. The stock has gained 6.4 percent since the end of last year.

Net profit soared 372 percent to CNY2.2 billion (USD307.6 million) in the six months ended June 30 from a year earlier, the Beijing-based company said in an earnings report yesterday, very nearly matching the total for the past seven years combined. Operating revenue surged 143 percent to CNY3.2 billion.

In comparison, Enlight Media’s profit last year shrank 30 percent to CNY292 million (USD40 million), while revenue rose 2.6 percent to CNY1.6 billion.

The company was a main producer and distributor of Ne Zha 2, which has taken over CNY15.9 billion (USD2.2 billion) at the global box office so far this year, with the Chinese mainland accounting for 97 percent.

Based on ancient Chinese mythology, the film ended its theatrical run in China on June 30 after more than five months breaking box office records. The English-language version has started showing in North America, Australia, and New Zealand, since Aug. 22, through co-distributors A24 and CMC Pictures.

Although Enlight Media has not disclosed its percentage cut of Ne Zha 2's earnings, when takings reached CNY4.8 billion (USD671.1 million) in February, the company said it had received about CNY950 million to CNY1 billion (USD130 million to USD139.8 million) from the flick.

Enlight Media is transitioning to an "intellectual property creator and operator," from a "high-end content provider," it said, adding that the IP business is emerging as a new highlight and sustainable growth driver. The firm’s merchandise business focused on Ne Zha in the first half, covering more than 30 categories and over 500 products.

In addition, Enlight Media has set up a video gaming joint venture with a team of more than 50 members. The new company is developing its first high-budget, high-profile (AAA) game, but has not yet disclosed any details.

Editor: Martin Kadiev