Core Insights - The total box office for the 2025 New Year’s film season has reached 5.245 billion yuan, marking the second time in Chinese film history that the box office has surpassed 5 billion yuan for this period since 2017, and setting a new high for the same period in nearly eight years [1][4]. Box Office Performance - As of December 28, 2025, the box office for domestic films accounts for over 80% of the total, with nearly 90% of the films in the New Year’s season being domestic, indicating a strong market dominance [1]. - The top five films in the 2025 New Year’s season by box office revenue are "Zootopia 2" (approximately 3.964 billion yuan), "Avatar: The Way of Water" (approximately 700 million yuan), "The Insiders" (approximately 375 million yuan), "The Dumpling" (approximately 30.26 million yuan), and "The Meat Dumpling" (approximately 27.07 million yuan) [1][4]. Film Genre Distribution - The top five films include three drama films: "The Insiders," "The Dumpling," and "The Meat Dumpling," reflecting a higher audience interest in films that are close to life and reflect social realities [4]. - The 2025 New Year’s season features over 70 films across various genres, including history, suspense, documentary, warmth, fantasy, and public welfare, contrasting with previous years dominated by comedy and family-friendly themes [4][5]. Industry Trends - The diversification of film genres indicates that filmmakers are no longer limited to traditional popular themes, showing a willingness to innovate and meet the increasingly diverse demands of audiences [5]. - The strong performance of the 2025 New Year’s season, breaking the 5 billion yuan mark, signals positive consumer sentiment towards the film market, suggesting a shift in the interpretation of "content is king" based on a deep understanding of audience needs [5].

Group 1 - The 2023 Chinese New Year film season started on November 28 and will last until December 31, lasting 34 days, with box office revenue exceeding 4.9 billion yuan as of December 27 [1] - This year's film season features over 50 films across various genres, including animation, suspense, action, and science fiction, with "Zootopia 2" currently leading in box office earnings [2] - The market peak for this year's film season arrived earlier and faster, with attendance rates significantly surpassing those of the previous year [2] Group 2 - The film "The War of the Quiet" has grossed over 370 million yuan, making it the best-performing domestic film in this season [2] - Other films like "Wild Times" and "Now You See Me 3" have also shown relatively stable box office performance during the season [2] - The current film season is expected to challenge the historical record for the highest box office revenue during the New Year film season [2]

Group 1 - The total box office for the 2025 New Year film season has surpassed 3 billion yuan as of December 7, 2023 [1] - The film "De Xian Jin Zhi" achieved over 100 million yuan in its first day of release, with total earnings exceeding 180 million yuan to date [2] - "Zootopia 2" has become the highest-grossing film in the New Year season in China, outperforming its North American market performance [2] Group 2 - More than 50 films have been scheduled for the New Year season, covering various genres such as suspense, warmth, action, and science fiction [4] - Notable films include suspense titles like "Inside," "Hidden Kill," and "The Place of Arms," as well as comedies like "Father and Son" and "Year After Year" [4] - "Wild Times" presents a poetic journey through six chapters spanning a century, while "Qing Ai," the first domestic film addressing youth and AIDS, tackles a long-avoided topic [6]

Group 1 - The total box office for the 2025 New Year season (November 28 - December 31) has exceeded 3 billion [1] - The film "De Xian Jin Zhi" achieved over 100 million in its first day of release, with current earnings exceeding 180 million [3] - "Zootopia 2" has become the highest-grossing film in the New Year season in China, surpassing its performance in the North American market [6] Group 2 - More than 50 films have been scheduled for the New Year season, covering various genres such as suspense, warmth, action, and science fiction [8] - Notable films include suspense titles like "Inside," "Hidden Kill," and "Place of Arms," as well as comedies like "The Unnamed: Meaning Extraordinary" [10] - The film "Wild Times" presents a poetic journey across a century in six chapters, while "Qing Ai," the first domestic film on youth and AIDS, addresses a long-avoided topic [11] Group 3 - The anticipated release of "Avatar: The Way of Water," directed by James Cameron, promises new adventures and stunning visual effects [13]

Core Insights - The total box office for the 2025 New Year film season has exceeded 3 billion yuan as of December 7, 2023 [1] - The film "De Xian Jin Zhi" premiered on December 6, 2023, and achieved over 180 million yuan in box office on its first day [3] - "Zootopia 2" has become the highest-grossing film in the New Year season in China, surpassing its performance in the North American market [6] Group 1 - The 2025 New Year film season runs from November 28 to December 31, with a total box office exceeding 3 billion yuan [1] - "De Xian Jin Zhi" focuses on the theme of ordinary people's resistance during wartime, with a storyline involving a family seeking refuge from conflict [3] - The film "Zootopia 2" has outperformed its North American counterpart, establishing itself as the largest box office market globally for this title [6] Group 2 - Over 50 films have been scheduled for the New Year season, covering various genres such as suspense, warmth, action, and science fiction [8] - Notable films to watch include suspense titles like "Inside," "Hidden Kill," and "Place of Arms," as well as comedies like "The Most Special Friend" [9] - "Wild Times" presents a poetic journey through six chapters spanning a century, while "Qing Ai" addresses the topic of AIDS in a groundbreaking manner [11]

Core Insights - The Chinese film market is experiencing a significant surge during the 2025 New Year film season, with the animated film "Zootopia 2" leading the box office, surpassing 2.8 billion RMB and setting multiple records for imported animated films in China [1][4][18] - The 2025 New Year film season, running from November 28 to December 31, features over 50 films across various genres, indicating a rich and diverse offering for audiences [1][4] - The total box office for 2025 has already exceeded 49.1 billion RMB, with projections suggesting it will surpass 50 billion RMB, marking a successful year for the film industry [1][7] Film Market Dynamics - The film season showcases a strong presence of both imported and domestic films, with notable titles such as "Zootopia 2," "The Bad Witch 2," and "Hunting Games" among the imports, while domestic films like "The Quiet War" and "The Unnamed" are also generating interest [1][4][7] - The audience's clear preferences for different film genres are driving the box office performance, with a notable increase expected due to the release of several strong domestic films [7] Consumer Experience and Cinema Evolution - Cinemas are evolving from traditional screening venues to multi-functional spaces that incorporate family interaction, social entertainment, and cultural experiences, enhancing the overall viewing experience [7][9] - The popularity of "Zootopia 2" has led to the creation of themed interactive areas in cinemas, attracting audiences to engage with the film's characters [7][9] Merchandise and IP Expansion - The success of "Zootopia 2" has also boosted sales of related merchandise, with products like plush toys and accessories experiencing high demand, particularly in Yiwu, a hub for small commodities [11][13][15] - The film's merchandise sales have seen significant growth, with related product searches on platforms like JD.com increasing by 225% within a week of the film's release [17] IP Monetization Strategies - The Chinese film market is witnessing a "year of animation," with successful films like "Zootopia 2" contributing to a broader trend of IP monetization beyond box office revenues [18][20] - Key revenue streams for film IPs include licensing and merchandise, theme parks, and content extensions through streaming platforms, indicating a shift towards a more diversified revenue model [18][20][22] - The global IP economy is projected to exceed 1 trillion RMB by 2024, with China's IP market expected to grow at a compound annual growth rate of 13.5% from 2025 to 2029, highlighting the potential for significant growth in this sector [23]

Core Insights - The total box office for the 2025 film year has surpassed 48.5 billion, nearing the 50 billion mark, with expectations for a strong finish during the upcoming holiday season with 35 new films set to release [1] Group 1: Upcoming Releases - The holiday season will feature a diverse lineup of films, including "De Xian Jin Zhi" starring Xiao Zhan, the Taiwanese anti-Japanese epic "Seediq Bale," and the highly anticipated "Avatar 3" [1][3] - "De Xian Jin Zhi" has already generated over 87 million in pre-sales, focusing on the story of ordinary citizens resisting Japanese occupation during the Nanjing Massacre [2] - "Seediq Bale" will be released in two parts on December 12 and 13, having previously received critical acclaim and high ratings, marking its first appearance in mainland China [3] Group 2: Notable Films and Directors - The animated film "Zootopia 2" and "Avatar 3" are expected to significantly impact December's box office performance, with "Avatar 3" featuring advanced visual effects and a new storyline set on a volcanic landscape [3] - The musical adaptation "Wicked" will see the return of stars like Cynthia Erivo and Ariana Grande, although its predecessor did not perform well at the box office [4] - The film "Insider," directed by Mak Zhaohui, will explore the dark side of charity, featuring a cast that includes Aaron Kwok and Anthony Wong, appealing to fans of Hong Kong cinema [6] - Director Shen Ao's new film "Yong Wu Zhi Di" will depict real-life experiences of overseas hostages, while Rao Xiaozhi's "Unnamed: Meaning Extraordinary" will blend dark comedy with a multi-narrative structure [6]

Core Viewpoint - The film market is experiencing a surge driven by Disney's "Zootopia 2," which has achieved significant box office success and positively impacted related stocks [1][3]. Box Office Performance - As of December 1, "Zootopia 2" has grossed over 1.95 billion yuan (approximately 0.28 billion USD) with over 49 million viewers [1]. - The film set multiple records, including the highest single-day box office for an imported film in China, with a peak of 738 million yuan (approximately 0.1 billion USD) on November 29 [3]. - By the end of its first week, the film's box office in China reached 2.74 billion yuan (approximately 0.39 billion USD), surpassing its North American earnings [3]. Stock Market Impact - The success of "Zootopia 2" has led to a significant rise in related stocks, with companies like China Film (600977) hitting their daily limit up [1]. - On November 28, the film's impact caused a rally in the film sector, with several stocks, including China Film and Happiness Blue Sea, experiencing substantial gains [1]. Future Projections - Analysts predict that "Zootopia 2" could reach a total box office of 4.25 billion yuan (approximately 0.61 billion USD) in China, with some estimates as high as 3.84 billion yuan (approximately 0.55 billion USD) [4]. - The overall film market in China is expected to exceed 50 billion yuan (approximately 7.1 billion USD) this year, with "Zootopia 2" contributing significantly to this total [6].