iQIYI(US:IQ) 3 6 Ke·2025-09-07 02:11Core Insights - The film "Catching the Wind" represents a clash between "new" and "old" values, showcasing traditional action against modern high-tech crime [1] - The summer box office of 2025 is noted as one of the best in the last decade, with a total box office of 120 billion, similar to last year but significantly lower than the same period in 2023 [2] - The success of "Catching the Wind" highlights a shift in audience preferences towards quality over star power, with the film achieving over 1 billion in box office and a Douban score of 8.2, marking a record for Jackie Chan's action films in the last decade [3][4] Industry Trends - The traditional formula of "topic hype + star cast" is no longer sufficient to guarantee high box office returns, as audiences become more discerning [3] - The film industry is witnessing a resurgence of high-quality action films, filling a gap in the market and attracting younger audiences despite the older cast [8] - The success of "Catching the Wind" indicates a potential trend towards the premiumization of genre films, driven by strong storytelling and innovative elements [15][30] Company Strategy - iQIYI's "Big Movie Plan" aims to prove its capability in producing commercially successful films, with "Catching the Wind" being the first project under this initiative [4][28] - The company has a history of exploring various film genres, having released 13 films across different categories, and is now focusing on high-quality commercial films [9][19] - iQIYI's approach combines long-term investment in film production with a focus on unique storytelling and genre differentiation, similar to strategies employed by platforms like Netflix [19][20] Financial Performance - "Catching the Wind" is projected to generate significant revenue, with potential earnings exceeding 4 billion from box office shares if it surpasses 1.2 billion in total domestic box office [22] - The film's high profile is expected to drive membership growth for iQIYI, as viewers may subscribe to access exclusive content related to the film [23][26] - The company's established online and offline synergy is anticipated to enhance revenue streams, allowing for multiple monetization avenues post-theatrical release [26][30]