CFC(SH:600977) Mei Ri Jing Ji Xin Wen·2025-10-02 06:59Core Insights - The 2025 National Day film market is competitive with ten new releases, and the box office has reached 4.25 billion yuan as of October 2, 2025, with "The Volunteer Army: Bloodbath and Peace," "Assassination Novelist 2," and "Life of the Waves" leading the box office [1][2]. Box Office Performance - As of October 2, 2025, the top three films by box office revenue are: - "The Volunteer Army: Bloodbath and Peace" with 1.5 billion yuan, 375.6 million attendees, and an average rating of 9.6 on Taopiaopiao [2][3]. - "Assassination Novelist 2" with 866.9 million yuan, 209.8 million attendees, and a rating of 9.4 [2][3]. - "Life of the Waves" with 661.6 million yuan, 163.6 million attendees, and a rating of 9.5 [2][3]. Market Trends - The average ticket price for the first day of the National Day holiday is 38.7 yuan, down from 41 yuan the previous year, indicating a lower barrier to entry for viewers [4]. - The pre-sale box office for the 2025 National Day period reached 1 billion yuan by September 30, 2025, but the speed of reaching this milestone has significantly slowed compared to previous years [6][4]. Audience Behavior - Audience behavior is shifting, with many viewers opting to wait for films to gain popularity or positive reviews before purchasing tickets, reflecting a change from casual entertainment to more value-driven cultural experiences [10][8]. - The film "731," which has been in theaters for nearly half a month, has unexpectedly become a "dark horse," showing strong performance in lower-tier cities, where its box office share is 35% [3][4]. Industry Dynamics - The film industry is experiencing a mixed performance among stocks, with the cultural media index rising by 0.58% on September 30, 2025, while some companies like Huayi Brothers and Golden Shield saw declines [11]. - Chinese film companies are heavily involved in the production of films for the National Day period, with China Film participating in five out of ten new releases, contributing to its stock price increase of 4.62% in the past week [12]. Content Characteristics - The trend of sequels, series, and IP-based films is prominent in the 2025 National Day lineup, indicating a maturation and industrialization of the Chinese film industry [13]. - Predictions suggest that "The Volunteer Army: Bloodbath and Peace" is likely to be the box office champion, while "The Sound of Thunder" may emerge as a surprise hit [14].