According to the Zhitung Finance APP, GTJA has released a Research Report stating that the lineup of films scheduled for the 2025 Spring Festival is strong, mainly featuring highly acclaimed sequels, and is expected to set a new historical box office record. Past Spring Festival periods have proven capable of accommodating two films with box office earnings exceeding 4 billion yuan, but since the competitive landscape in the past was not as concentrated with top blockbusters as it is in 2025, there may eventually be 3-4 films exceeding 3 billion yuan at the box office, and all six scheduled films are expected to challenge for box office earnings exceeding 2 billion yuan. Recommendations for cinema chains and content production-related symbols.

GTJA's main opinions include:

Sequels have been consecutively scheduled for the 2025 Spring Festival, creating the strongest lineup in history.

Among the scheduled films for the 2025 Spring Festival, the series films 'Detective Chinatown 3', 'Operation Red Sea', and 'Boonie Bears: To The Rescue' have all been released multiple times during the Spring Festival. 'Detective Chinatown 2' and 'Detective Chinatown 3' respectively premiered in the Spring Festivals of 2018 and 2021, with box office earnings of 3.397 billion yuan and 4.523 billion yuan, and 'Detective Chinatown 3' even surpassed 1 billion yuan on its opening day. 'Operation Red Sea' and 2018's 'Operation Red Sea' both belong to Bona Film Group's 'Operations' series, with the latter achieving box office earnings of 3.652 billion yuan. The 'Boonie Bears' series, a frequent visitor to the Spring Festival animated film scene, had its previous installment released in 2024 with box office earnings exceeding 2 billion yuan for the first time.

In addition, the previous installments of 'Ne Zha: Birth of the Demon Child' and 'Feng Shen Part II: Battle of Xi Qi' were released during the summer seasons in 2019 and 2023, achieving box office results of 5.035 billion yuan and 2.634 billion yuan, with 'Ne Zha: Birth of the Demon Child' being one of only four films in Mainland China's box office history to exceed 5 billion yuan. Furthermore, 'The Legend of the Condor Heroes: The Heroic One' lacks a high-grossing predecessor to support it, but the appeal of its IP and the strength of its creative team should not be underestimated.

The scheduled films all have the potential to contribute to high box office earnings.

In years with stable movie viewing demand and relatively high content quality, films ranked first and second during the Spring Festival period usually achieve box office results of over 4 billion yuan. Notably, in 2021, the film 'Detective Chinatown 3', originally scheduled for release during the Spring Festival in 2020, was postponed to 2021, sparking a wave of interest in movie viewing during its pre-sale. 'Hi, Mom' later rose in popularity with the boost of positive reviews, achieving 5.4 billion yuan at the box office and becoming the champion of the Spring Festival period in mainland China's film history.

The Spring Festival period has been proven capable of supporting two films with box office results exceeding 4 billion yuan, but since the competitive landscape in the past has not concentrated on blockbuster releases as seen in 2025, it may ultimately result in 3-4 films with box office exceeding 3 billion yuan. Additionally, all six films already scheduled have the potential to challenge box office results above 2 billion yuan.

The total box office for the Spring Festival period in 2025 is expected to set a new historical high.

Considering both the number of viewers and the average ticket price, if the average daily number of viewers is 24 million, and the average ticket price is 50 yuan, under the 7-day Spring Festival context, this organization predicts the total box office for the 2025 Spring Festival period will reach 8.4 billion yuan. At the same time, considering the recent distribution of various types of movie consumption vouchers, which are expected to continue during the Spring Festival, this could greatly reduce the actual viewing costs for consumers and help boost the number of viewers. Therefore, this organization is relatively optimistic about the viewing demand for the 2025 Spring Festival period and believes there is still room for improvement beyond the average daily audience base of 24 million, with final box office results possibly exceeding expectations.

It is recommended to focus on companies with films scheduled for the Spring Festival period and theater stocks.

This includes Wanda Film Holding (002739.SZ), Bona Film Group (001330.SZ), Shanghai Film (601595.SH). Beneficiary companies include Beijing Enlight Media (300251.SZ), China Film Co., Ltd. (600977.SH), Hengdian Entertainment (603103.SH), MAOYAN ENT (01896), Guangzhou Jinyi Media Corporation (002905.SZ), and Omnijoi Media Corporation (300528.SZ), among others.

Risk warning: movie box office may fall short of expectations, and there is a risk of last-minute film withdrawals.