BEIJING, China, Feb 23 — Propelled by Spring Festival blockbusters, the Year of the Horse has seen a galloping surge in box office takings, making China the world’s largest single movie market so far in 2026.
This year’s box office revenue, including presales, reached 7.6 billion yuan ($1.1 billion) as of Sunday, exceeding the $939 million grossed in North America, according to film data-tracking sites Beacon and Box Office Mojo.
Among the eight new films competing for the festival market — one of the most competitive box office seasons of the year — novelist-turned-director Han Han’s Pegasus 3 has emerged as a runaway hit, topping the charts with 2.5 billion yuan in earnings.
Reprising his role as the legendary racer Zhang Chi, Shen Teng features in the latest installment of the popular franchise, with his character competing in a grueling new rally race. Hooking fans with nostalgic elements, the adrenaline-pumping blockbuster taps into Chinese audiences’ demand for a festive atmosphere — delivering an underdog plotline of passion, love and courage, according to some critics.
In second place is director Zhang Yimou’s Scare Out, the first Chinese film centered on contemporary national security. It has raked in 750 million yuan to date.
“The significance of Scare Out goes beyond being just a film; it is our way of paying tribute to the heroes working on the hidden front. We may never know who they are, but it is precisely countless such unsung individuals who safeguard the peace and reunion we enjoy at this moment,” said the 75-year-old director, who marked his fourth consecutive Spring Festival release.
Touted as an epic aimed at reviving martial arts films — once a popular Chinese-language genre overseas — Blades of the Guardians, the latest directorial effort by 80-year-old filmmaker Yuen Wooping, has seen a steady rise in recent days and now ranks third at this year’s box office charts, generating about 640 million yuan in revenue.
Adapted from a popular comic series, the film features a star-studded cast including Wu Jing and Jet Li. It follows a highly skilled martial artist tasked with escorting the country’s most wanted man across the desert to the capital during the turbulent period of the Sui Dynasty (581-618).
Filmed over 185 days in Karamay, Xinjiang Uygur autonomous region, the movie has won widespread acclaim for its showcasing of real action sequences — a rarely seen spectacle in today’s digital-heavy era.
Exemplifying the diversity of Spring Festival releases, the fourth highest-grossing film is the animated sequel Boonie Bears: The Hidden Protector, the 12th installment in the long-running franchise. Grossing 613 million yuan, the fantasy story reimagines the folklore of Nian Shou, the mythical beast of the Chinese New Year.
Following a panda cub and a giant star’s accidental encounter in an isolated tribe that reveres panda as a divine beast, Jackie Chan’s latest action comedy, Panda Plan: The Magical Tribe, has secured the fifth spot with earnings of 168 million yuan.
Chen Jin, an analyst at Beacon, said that third — and fourth-tier cities have become crucial pillars boosting the festival box office, with over 53 percent of total ticket revenues coming from these areas. Notably, with artificial intelligence-powered services emerging rapidly this year, many ticket bookings have been processed through AI platforms, added Chen.
“The strong box office numbers on the Spring Festival’s first day exceeded industry expectations — making it a great kickoff for this year. It’s helping the Chinese film market steadily bounce back and gain momentum,” said Lai Li, a market analyst with Chinese movie-ticketing and film data platform Maoyan.
Noting that going to cinema has become a part of the Spring Festival holiday celebrations over the past decade, Rao Shuguang, president of the China Film Critics Association, urged industry insiders to prepare for future challenges as the film industry is facing unprecedented changes since its establishment over 100 years ago.
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