"Longest Spring Season in History": Total screenings break records, "Flying Past Life 3" leads with 2.9 billion yuan in a breakaway performance

The longest spring season in history is coming to an end, with “Flying Tiger 3” leading by a wide margin with a box office of 2.9 billion yuan.

According to Maoyan Professional Data, as of 9 p.m. on February 23, the total box office for the 2026 Spring Festival period exceeded 5.7 billion yuan. “Flying Tiger 3,” “Silent Zhi,” and “The Dagger: Winds Rise in the Desert” rank the top three, with box offices of 1.913 billion yuan, 864 million yuan, and 802 million yuan respectively. The latest forecasted total box offices for these three films are 4.266 billion yuan, 1.233 billion yuan, and 1.302 billion yuan.

It is worth noting that, from the annual box office perspective, by the afternoon of February 23, according to data from online platforms cited by CCTV News, the total annual box office (including pre-sales) for 2026 has surpassed 8 billion yuan, ranking first globally in a single market. Additionally, as of now, the box office for February 2026 has exceeded 6 billion yuan.

This year’s spring season faces the high baseline set by last year’s “Nezha Conquers the Demon Sea” (referred to as “Nezha 2”). Maoyan Professional Data shows that the total box office for the Spring Festival periods from 2021 to 2025 were 7.842 billion yuan, 6.039 billion yuan, 6.765 billion yuan, 8.016 billion yuan, and 9.514 billion yuan respectively.

“Flying Tiger 3” becomes the biggest winner, accounting for over half of the total spring box office

This year’s Spring Festival period ran from February 15 to February 23, lasting 9 days, earning it the nickname “the longest Spring Festival ever.” Among the films released on the first day of the Lunar New Year (February 17) were “Flying Tiger 3,” “Silent Zhi,” “The Dagger: Winds Rise in the Desert,” “Boonie Bears: Year of the Bears,” “River of Stars,” and “Panda Plan: Tribal Adventure.” “Return: Wolf Pack” was a re-release film released on February 19, and “Night King” was released in the Guangdong and Guangxi regions on February 20.

In terms of daily box office, Maoyan Professional Data shows that from Lunar New Year’s Day to the sixth day, the total box office was 1.278 billion yuan, 847 million yuan, 803 million yuan, 756 million yuan, 710 million yuan, and 681 million yuan respectively. As of now, the seventh day’s box office has exceeded 600 million yuan.

Dengta Professional, under Damai Entertainment, previously released an analysis indicating that four of the top five single-day box office records in Chinese film history occurred on Lunar New Year’s Day. “Spring Festival” is the peak moment for market explosion and audience enthusiasm.

Among this year’s Spring Festival films, “Flying Tiger 3” is undoubtedly the biggest winner. Since its release on Lunar New Year’s Day, it has maintained a continuous lead in box office. Currently, “Flying Tiger 3” has surpassed 2.9 billion yuan, accounting for over half of the total spring box office, and is the only film this season to surpass 2.5 billion yuan.

In terms of reviews, among new films during the Spring Festival, “Flying Tiger 3” has a Douban score of 7.4, “The Dagger: Winds Rise in the Desert” scores 7.5. Additionally, “Silent Zhi,” “Boonie Bears: Year of the Bears,” and “River of Stars” have scores of 6.2, 6.7, and 6.9 respectively.

Of course, the 2026 Spring Festival also shows some new characteristics. Data from Damai Entertainment’s Lantern Professional indicates that, in terms of audience composition, female viewers have accounted for over 60% in the past three years. This year, the proportion of male viewers has increased significantly, driven by popular films like “Flying Tiger 3” and “The Dagger: Winds Rise in the Desert,” which has balanced the gender ratio in the market. Additionally, viewers aged 35 and above and multi-person viewing remain prominent, maintaining a strong family movie atmosphere.

Regionally, Jiangsu Province has been the top box office province for five consecutive years from 2021 to 2025. This year, with “The Dagger: Winds Rise in the Desert” and “Night King” performing well in Guangdong, the competition for provincial box office champion has become intense. The northeastern region, especially Liaoning Province, has shown outstanding performance with “Flying Tiger 3,” with multiple cinemas in Liaoning ranking among the top nationwide during the season.

Which listed companies are expected to benefit?

It should be noted that the Spring Festival period has always been a key battleground for major film companies and also influences the capital market. Among the producers of this year’s Spring Festival films, several listed companies are involved.

A review shows that China Film (600977.SH) participated in producing five films: “Flying Tiger 3,” “Boonie Bears: Year of the Bears,” “The Dagger: Winds Rise in the Desert,” “Silent Zhi,” and “River of Stars,” with “River of Stars” being the company’s first production. Moreover, the top three box office films of the season, China Film and Damai Entertainment (01060.HK), both participated in production.

Specifically, “Flying Tiger 3” was written and directed by Han Han, starring Shen Teng, Yin Zheng, Huang Jingyu, and Zhang Benyu. The film tells the story of the last BaYin Buluke Rally, where Zhang Chi, who has achieved his dream, must face the departure of old team members and new technological challenges after returning to reality. Its predecessors, “Flying Tiger” and “Flying Tiger 2,” earned 1.728 billion yuan and 3.361 billion yuan respectively. With the success of “Flying Tiger 3,” director Han Han’s films have surpassed 10 billion yuan in box office.

As a major film of this year’s Spring Festival, the main investor of “Flying Tiger 3” is Shanghai Tingdong Film Co., Ltd. Tianyancha shows that the company was established in 2015, with Han Han as legal representative and actual controller, holding 57.26% of shares. Bona Film Group (001330.SZ) is the second-largest shareholder with 9.55%. The production also involves Maoyan Entertainment (01896.HK), Damai Entertainment, Wanda Cinema (002739.SZ), China Film, Hengdian Film (603103.SH), and others.

The commercial value of the “Flying Tiger 3” IP is further demonstrated by the emergence of various co-branded merchandise on e-commerce platforms, including rally car models, drift display models, building blocks, and remote-controlled cars. Notably, the “Flying Tiger 3” Audi A3 rally car alloy model (1/64 scale) is now available for pre-order at 129.9 yuan on TuoYi flagship store, with over 6,000 units sold. The Audi official flagship store also offers a co-branded model pre-sale at 899 yuan, with over 800 units sold.

Additionally, during this Spring Festival, “Silent Zhi” and “The Dagger: Winds Rise in the Desert” both grossed over 800 million yuan.

“Silent Zhi,” directed by Zhang Yimou and starring Yi Yangqianxi, Zhu Yilong, and Song Jia, is based on the theme of national security, depicting a covert operation against important intelligence leaks. Its producers include Damai Entertainment and China Film.

“River of Stars,” currently the highest-rated film on Douban for this season, is adapted from Xu Xianzhe’s comic “The Dagger,” telling the story of bodyguard Dao Ma, who is entrusted by his benefactor Mo Zu Zhang to escort the mysterious Ren Zhi Lang back to Chang’an, facing attacks from rebels and merchant families, and the death of Mo Zu Zhang while protecting Dao Ma’s past love Xiao Qi. Its producers include Damai Entertainment and China Film.

“Boonie Bears: Year of the Bears” is the 12th major film in the “Boonie Bears” series, with a box office exceeding 700 million yuan, ranking fourth during the season. It is produced by Huaqiang Fantawild (Shenzhen) Animation Co., Ltd., with involvement from Hengdian Film, China Film, Maoyan Entertainment, Wanda Cinema, and others. The previous 11 films in the series have accumulated over 8.5 billion yuan in box office.

Additionally, “River of Stars” is a return to the visual effects action genre by director Han Yan, with producers including China Film, Hengdian Film, and Shanghai Film (601595.SH). “Panda Plan: Tribal Adventure” is a sequel to the “Panda Plan” film IP, involving Maoyan Entertainment. “Return: Wolf Pack” is a re-release film with Light Chaser Media (300251.SZ) listed among its co-producers.

Regarding the 2026 Spring Festival, Chen Jin, an analyst from Damai Entertainment’s Lantern Professional, told The Paper that as of 6 p.m. on February 23, the total number of screenings was 4.3508 million, with 117 million viewers and an average ticket price of 47.9 yuan. The total number of screenings set a new record for the Spring Festival period in Chinese film history. The average ticket price has decreased by nearly 3 yuan compared to last year’s Spring Festival, maintaining a downward trend since Lunar New Year’s Day. The overall quality of new films has been recognized by audiences, and from the sixth day onward, the box office share of first- and second-tier cities increased significantly. Positive word-of-mouth has driven a “return to theaters” trend, and several new films are expected to maintain strong box office performance after the holiday.

Zheshang Securities’ latest report notes that although the number of films in the 2026 Spring Festival has reached a five-year high, there is a lack of truly phenomenon-level works that can spark widespread discussion. In contrast, the 2025 Spring Festival “Nezha 2” scored 8.4 on Douban, creating a strong word-of-mouth matrix. The absence of such blockbuster hits may hinder market resonance.

As of the last trading day before the holiday (February 13), China Film’s stock closed at 18.55 yuan, up 5.34%; Bona Film Group at 12.77 yuan, up 5.89%; Hengdian Film at 34.90 yuan, up 6.63%; Wanda Cinema at 12.49 yuan, up 2.38%; Shanghai Film at 32.51 yuan, up 3.44%; and Light Chaser Media at 27.22 yuan, up 15.39%.

(Source: The Paper)