Core Viewpoint - "Nezha: The Devil's Child" (referred to as "Nezha 2") has achieved unprecedented box office success in China, grossing 15.44 billion yuan and attracting 324 million viewers, setting records in Chinese film history [1][2]. Box Office Growth Phases - The box office growth of "Nezha 2" can be divided into three phases: 1. The first phase during the Spring Festival, where it earned approximately 4.841 billion yuan with 94.86 million viewers, benefiting from holiday advantages and strong word-of-mouth [2][3]. 2. The second phase saw the film surpassing "The Battle at Lake Changjin" and "Wolf Warrior 2" in cumulative box office, entering the top 50 in global box office history, with a total of 13.91 billion yuan by February 28 [3]. 3. The third phase involved increased interest in premium viewing experiences like IMAX GT, although the film's popularity began to decline in March, with monthly box office figures dropping significantly by June [3][4]. IP Licensing and Derivative Value - The film's production company, Light Chaser Animation, highlighted two major directions for the Chinese film industry: overseas markets and IP licensing derivatives. "Nezha 2" has shown significant potential in these areas, with over 20 brand licenses and derivative sales exceeding 10 billion yuan [4][5]. - The estimated total commercial value of the "Nezha 2" IP could reach between 30 billion to 35 billion yuan, a substantial increase compared to its predecessor, which had only 120 million yuan in derivative sales [5].