2026年春节档临近（法定假期共9天，有效放映天数为7天，和2025年春节档有效放映天数持平），据猫眼专业版，截至2026年1月28日12时共有6部影 片定档2月17日（大年初一）上映，已定档影片中，《飞驰人生3》《惊蛰无声》《镖人》等关注度较高。行业储备包括《年夜"犯"》《澎湖海战》 等。 点击小程序查看报告原文 Abstract 摘要 春节档的档期效应有助于催化单 片弹 性。 根据艺恩数据，2021至2025年春节档含服票房分别为78/60/68/82/95亿元，占全年票房比分别约 17%/20%/12%/19%/19%。根据猫眼专业版，中国电影票房榜单TOP10中有6部来自春节档，其中近三年内上映的包括《哪吒之魔童闹海》（总票房约155 亿元）和《满江红》（总票房约45亿元）。我们判断春节档为开年重要档期，往往为全年票房发展奠基，具有催化单片票房弹性的潜力。 2026年春节档影片已定档6部影片，票房面临高基数影响。 我们认为，2026年春节档国产片定档时间偏晚（2025年提前一个月左右），档期票房亦面临 2025年《哪吒2》带来的高基数影响；由于进口片《疯狂动物城2》和《阿凡达3》密钥延至2026春节档 ...

Group 1 - The 2026 Spring Festival holiday is expected to be the longest in history, lasting 9 days, making it a prime period for film releases and box office performance [3] - Several films have been confirmed for the 2026 Spring Festival, including "Biao Ren," "Fei Chi Ren Sheng 3," and "Xiong Chumo: Nian Nian You Xiong," with significant box office predictions [2][3] - Box office forecasts for major films range from 25 billion to 30 billion for "Biao Ren" and "Fei Chi Ren Sheng 3," while other films like "Jing Zhe Wu Sheng" and "Zhuan Nian Hua Kai" are expected to earn between 10 billion and 20 billion [3][4] Group 2 - The film industry is transitioning from a focus on quantity to quality, with the Spring Festival being a crucial period for high-quality films to attract audiences [4] - Recent trends indicate that the box office for the Spring Festival has been consistently increasing, driven by longer holiday periods and a concentration of major films [4][5] - Related listed companies benefiting from the Spring Festival releases include Bona Film Group, China Film Group, and Wanda Film [10]

人民财讯2月1日电，据网络平台数据，截至2月1日15时26分，2026年年度票房已超20亿元。春节将至， 电影市场的热度也持续升温。截至目前，已有《飞驰人生3》《惊蛰无声》《镖人：风起大漠》《熊出 没·年年有熊》《星河入梦》《熊猫计划之部落奇遇记》六部国产影片宣布定档2026春节档，涵盖了武 侠、动作、悬疑、奇幻、喜剧、动画等多种类型，满足不同观众观影需求。 转自：证券时报 ...

Core Viewpoint - The 2026 Chinese New Year film market is set with six films confirmed for release, showcasing a diverse range of genres including action, comedy, animation, and fantasy, featuring prominent actors such as Jackie Chan, Yi Yang Qianxi, and Wu Jing [14][15]. Group 1: Film Lineup - Six films have been officially scheduled for the 2026 Spring Festival, including "Panda Plan: Tribal Adventure," "Flying Life 3," "Biao Ren: Wind Rises in the Desert," "Silent Awakening," "Star River in Dream," and "Bears: Year of the Bear" [14]. - "Panda Plan: Tribal Adventure," directed by Xu Hongyu, is a family-friendly adventure comedy featuring a panda named Hu Hu and Jackie Chan, blending comedy, action, and fantasy elements [14][15]. - "Bears: Year of the Bear" is the 12th installment in the popular animated series, continuing its signature family-friendly style with a new adventure involving the characters Bear and Baldy [14]. Group 2: Notable Films and Themes - "Silent Awakening," directed by Zhang Yimou, focuses on contemporary national security themes, featuring a storyline about intelligence leaks and the ensuing investigations by a national security team [15]. - "Biao Ren: Wind Rises in the Desert," directed by Yuen Woo-ping, is an action film set in the Sui Dynasty, showcasing a journey through the desert with a strong cast of martial arts actors [16]. - "Flying Life 3," directed by Han Han, continues the story of Zhang Chi, emphasizing themes of dreams and perseverance, with an upgraded cast and production [16]. - "Star River in Dream," directed by Han Yan, is a fantasy adventure that explores the implications of a virtual dream system, combining elements of science fiction and suspense [16].

分析师：乔琪 登记编码：S0730520090001 qiaoqi@ccnew.com 021-50586985 AI 流量入口竞争白热，春节档电影供给 丰富 ——传媒行业月报 证券研究报告-行业月报 强于大市(维持) 传媒相对沪深 300 指数表现 相关报告 《传媒行业分析报告：传媒 2025Q4 基金持仓 分析：重仓股配置力度环比下降，个股配置分 化》 2026-01-27 《传媒行业月报：游戏行业稳步增长，动漫电 影引领票房增长》 2025-12-30 《传媒行业分析报告：动画电影：从"边缘品 类"到"半壁江山"》 2025-12-25 联系人：李智 投资要点： ⚫ 行情回顾与估值表现：截至 2026 年 1 月 26 日，1 月传媒指数上涨 16.19%，在 30 个行业组合中排名第二，跑赢同期上证指数 （+4.13%）12.06pct、跑赢同期创业板指（+3.62%）12.57pct、 跑赢同期沪深 300 指数（+1.66%）14.53pct。 ⚫ 投资建议： 建议围绕政策环境改善以及 AI 应用加速落地两条主线带来的估值 和业绩双提升，关注目前处于高景气度的细分行业。 在政策端，传媒行业所处政策 ...

Group 1 - The core theme of the upcoming Chinese New Year film season is the diverse range of films set to be released, including "Starry Dreams," "Silent Awakening," "Racing Life 3," "Bounty Hunter," and "Bears: Year of the Bear," catering to various audience preferences [1][18] - "Silent Awakening," directed by Zhang Yimou and guided by the National Security Department, focuses on contemporary national security issues, featuring a storyline about intelligence leaks and the ensuing investigation by a national security team [3][6] - "Bounty Hunter," directed by Yuen Woo-ping and starring notable action actors like Wu Jing and Nicholas Tse, is an adaptation of a popular Chinese comic, set against the backdrop of the Sui Dynasty and featuring extensive action sequences [5][7] - "Racing Life 3," the third installment in the series written and directed by Han Han, continues the story of protagonist Zhang Chi, emphasizing themes of passion, perseverance, and self-discovery [9][10] - "Starry Dreams," a fantasy adventure film directed by Han Yan, explores a near-future scenario involving a virtual dream system, blending elements of science fiction, action, and suspense [12][13] - "Bears: Year of the Bear," the 12th installment in the popular animated series, maintains its family-friendly style while introducing new adventures for the beloved characters [15] Group 2 - The films are scheduled for release on February 17, coinciding with the Lunar New Year celebrations, which is a significant period for the Chinese film industry [1][6][10] - The variety of genres and themes in this year's lineup reflects the industry's effort to attract a broad audience, enhancing the overall cinematic experience during the festive season [1][18] - Several other films, such as "The Aviator," "My Friend Andrei," "Don't Leave, Ma Teng," and "Bursting Water Pipe," are also currently screening, providing additional viewing options for audiences [15]

2026.01. 26 本文字数：2231，阅读时长大约4分钟 作者 | 第一财经 葛怡婷 作为全年容量最大、诞生票房冠军最多的电影档期，春节档历来是片方必争之地。2026年春节假期 自2月15日开始，使得春节档长达九天（2月15日至23日），为历年之最。 距离档期开启不足一月，灯塔专业版上映日历显示，目前有四部新片确定于大年初一（2月17日）上 映，分别是《惊蛰无声》《镖人：风起大漠》《飞驰人生3》及《熊出没·年年有熊》。相比往年六至 八部新片角逐的阵容，目前官宣定档影片数量偏少，可见片方在头部项目的布局上趋于谨慎。 尽管目前定档新片不多，但类型清晰，且主创阵容颇具分量，今年的春节档仍然值得期待。 传统类型创新求变 目前已定档的四部影片中，《惊蛰无声》与《镖人：风起大漠》分别从谍战与武侠这两大传统类型中 寻求突破。 由张艺谋执导的《惊蛰无声》由国家安全部指导创作，是国内首部聚焦当代国家安全题材的影片。影 片将谍战叙事从常见的年代背景移至现代都市，讲述我国最新战机信息外泄后，国安小组与潜伏间谍 之间惊心动魄的较量。此前释出的预告中，城市巷战、监控追踪、近身搏杀等场景接连出现，国安小 队不断逼近目标，就在即将缉 ...

Core Insights - The 2026 Spring Festival holiday will last nine days, from February 15 to 23, marking the longest period in history for this film release window [1] - Currently, only four new films are confirmed for release on the first day of the Lunar New Year, indicating a cautious approach from film companies compared to previous years [1] Film Analysis - **"The Silent Awakening"**: Directed by Zhang Yimou, this film focuses on contemporary national security themes, shifting the spy narrative to a modern urban setting. It features a strong cast including Yi Yangqianxi and Yang Mi, and has garnered significant industry attention with over 30 production companies involved [4][6] - **"Biao Ren: Wind Rises in the Desert"**: This film aims to revitalize the wuxia genre with a star-studded cast led by action director Yuen Woo-ping. It is based on a popular comic and incorporates elements of Western films, showcasing a blend of traditional Chinese martial arts and modern storytelling [9][7] Series Continuations - **"Fast Life 3"**: This sequel continues the successful franchise with a new storyline that incorporates AI racing technology, expanding the narrative scope. The previous films have collectively grossed over 5 billion yuan [11][13] - **"Boonie Bears: Year of the Bear"**: The latest installment in this animated series attempts to innovate by introducing a Chinese fantasy world, integrating elements of traditional culture while maintaining its family-friendly essence [14]

Core Viewpoint - The 2026 Spring Festival holiday is expected to be the longest in history, leading to a significant Spring Festival box office period, which is traditionally a peak time for major film releases in China [2][3]. Group 1: Upcoming Films - Multiple films have been scheduled for release during the Spring Festival period, including "Fast and Furious 3," which is backed by several listed companies such as Maoyan Entertainment, Bona Film Group, China Film, Wanda Film, and Hengdian Film [5]. - "Fast and Furious 3" has a notable IP recognition, with its predecessors grossing 1.728 billion yuan and 3.361 billion yuan at the box office, indicating a solid fan base [5]. - The animated film "Boonie Bears: Year of the Bear" is also set for release, continuing the successful "Boonie Bears" franchise, which has produced 11 films and has a stable audience [5]. Group 2: Market Expectations - Other films like "Biao Ren: Wind Rises in the Desert," "Silent Awakening," "Panda Project 2," and "Penghu Sea Battle" are also anticipated for the 2026 Spring Festival [6]. - According to a report by Everbright Securities, the public's interest in the Spring Festival box office is increasing, although the overall heat for the 2026 Spring Festival may not reach the levels of 2025 [6]. - The Chinese Film Association's Vice Chairman, Yin Hong, emphasized that the Spring Festival remains a crucial period for Chinese cinema, as family activities during the holiday drive strong audience demand for films [6][7]. Group 3: Box Office Potential - The success of the Spring Festival box office is contingent on the satisfaction level of the films released, with a target of achieving over 70% satisfaction to potentially produce two to three blockbuster hits [6][7]. - The Spring Festival box office serves as a significant indicator for the entire year's film market, setting expectations for audiences and influencing overall box office performance [7].

Group 1 - The core viewpoint of the article highlights the increasing public attention and discussion surrounding the Spring Festival film season, especially with the announcement of "Fast and Furious 3" [1][5] - The 2026 Spring Festival holiday is referred to as the "longest Spring Festival holiday in history," which is expected to lead to the "longest Spring Festival film season" [1] - The Spring Festival period has historically been the peak season for box office revenue, making it a competitive time for major film companies to release their key films [1] Group 2 - Several films have already been scheduled for release during the Spring Festival, including "Fast and Furious 3," which is backed by multiple listed companies such as Maoyan Entertainment, Bona Film Group, China Film, Wanda Film, and Hengdian Film [4] - The "Fast and Furious" series has established a certain level of brand recognition, with previous installments grossing 1.728 billion and 3.361 billion yuan respectively, indicating a solid fan base [4] - Other anticipated films for the 2026 Spring Festival include "Biao Ren: Wind Rises in the Desert," "Silent Awakening," "Panda Project 2," and "Penghu Sea Battle," among others [4] Group 3 - Despite the overall heat of the 2026 Spring Festival film season potentially not reaching the levels of 2025, the presence of marketable directors and star-studded casts provides a level of assurance for box office performance [5] - The Vice Chairman of the China Film Association, Yin Hong, emphasized that the Spring Festival remains a crucial period for Chinese cinema, as it aligns with family activities during the long holiday, maintaining strong audience demand for films [5] - The success of the Spring Festival films is contingent on achieving a satisfaction rate of over 70% among viewers, which could lead to multiple blockbuster hits [5]