《蛟龙行动》与2018年春节档上映的《红海行动》同属博纳影业“行动”系列，后者票房成绩达36.52亿元。《熊出没》系列作为春节档动画电影的常客，2024年上映的前作票房首次突破20亿元。If the box office during the Spring Festival reaches or exceeds expectations, it is expected to drive the performance recovery and valuation rebound of the film and television Sector.
In the films scheduled for the Spring Festival of 2025, the series of movies "Detective Chinatown 1900," "Operation Dragon," and "Boonie Bears: Back to Future" have all been released multiple times during the Spring Festival.
"Detective Chinatown 2" and "Detective Chinatown 3" respectively landed at the Spring Festival in 2018 and 2021, with box offices of 3.397 billion yuan and 4.523 billion yuan, and the first-day box office of "Detective Chinatown 3" even exceeded 1 billion yuan.
"Operation Dragon" belongs to Bona Film Group's "Action" series, which includes "Operation Red Sea" that was released during the 2018 Spring Festival, which achieved a box office of 3.652 billion yuan. The "Boonie Bears" series, a regular during the Spring Festival, saw its previous work released in 2024 with box office exceeding 2 billion yuan for the first time.
Research Reports from Central China point out the need to pay attention to the performance of the 2025 Spring Festival. Considering that the Spring Festival is one of the most important periods of the year, it is capable of releasing a significant amount of box office energy in a short time. This has attracted more quality domestic films to schedule during the Spring Festival, ensuring a higher overall quality of films during this period compared to the rest of the year. Coupled with viewing subsidies available in multiple places, it helps to further stimulate Inflow to theaters, unleashing the potential for movie Consumer. If the box office performs beyond expectations during the Spring Festival, it is expected to promote the performance recovery and valuation rebound of the film Sector.
GTJA released a research report stating that the lineup of films scheduled for the Spring Festival of 2025 is strong, mainly featuring sequels with high reputation and high box office, which are likely to set new historical box office records. Previous Spring Festivals have proven capable of accommodating two films with box offices exceeding 4 billion yuan, but the past competitive landscape was not concentrated like that of the major films in 2025, so it may ultimately result in 3-4 films exceeding 3 billion yuan at the box office, and all six scheduled films have the potential to challenge box office exceeding 2 billion yuan.
Hong Kong stocks related to the film Industry Chain:
MAOYAN ENT (01896), ALI PICTURES (01060), IMAX CHINA (01970), STAR CM (06698), CHINA RUYI (00136), NINGMENG FILM (09857), CHINA LIT (00772), HUANXI MEDIA (01003), etc.
