传媒：春节档点评：票房创历史新高，中国动画电影崛起

Investment Rating - The industry rating is "Outperform the Market" [6][14]. Core Insights - The Spring Festival box office reached a historical high of 8.256 billion yuan, representing year-on-year increases of +37%, +22%, and +25% compared to the previous three years [3]. - The number of moviegoers during the Spring Festival increased to 162 million, with year-on-year changes of +42%, +26%, and +23% compared to the previous three years [3]. - The average ticket price was 51.0 yuan, showing a slight recovery with a year-on-year increase of +2% [3]. - The success of high-quality films, particularly "Nezha: The Devil's Child," which grossed 4.87 billion yuan on its opening day, significantly boosted viewer demand [4][5]. - "Nezha: The Devil's Child" accounted for 48% of the total box office during the Spring Festival, with a projected total box office of 7.218 billion yuan [4]. Summary by Sections Investment Recommendations - The report suggests focusing on content providers such as Light Media (producer of "Nezha: The Devil's Child") and Shanghai Film, as well as cinema operators like Wanda Film, Hengdian Film, and others [5].