BUSINESS

China’s Lunar New Year Box Office Plunges 40%

Published: Feb. 24, 2026 5:38 p.m. GMT+8

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Moviegoers walk through a cinema decorated for the Lunar New Year holiday in Wuhan, Hubei province, on Feb. 17. Photo: VCG

China’s box office revenue for the Lunar New Year holiday plummeted 40% from a year earlier to 5.75 billion yuan ($832 million), a dismal showing that sent film stocks tumbling on the first trading day of the Year of the Horse.

Revenue fell short of analysts’ forecasts of 7.5 billion to 8 billion yuan despite the longer-than-usual holiday, which ran from Feb. 15 to Monday, marking the industry’s weakest Lunar New Year performance in years.

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China’s 2024 Lunar New Year box office revenue dropped 40% year-on-year to 5.75 billion yuan ($832 million), falling below analyst forecasts.
Theaters saw a 36% decline in visits despite lower ticket prices and a 25% rise in screenings; major film stock prices dropped 10-20%.
"Pegasus 3" led with 2.9 billion yuan, while third- and fourth-tier cities made up a record 53.4% of box office sales.

AI generated, for reference only

Who’s Who

Hengdian Entertainment Co. Ltd.: Hengdian Entertainment Co. Ltd. (603103.SH) is a film company whose shares fell between 10% and 20% on Tuesday. This decline followed a 40% plummet in China's box office revenue during the Lunar New Year holiday.

Bona Film Group Co. Ltd.: Bona Film Group Co. Ltd. (001330.SZ) experienced a significant stock decline, falling between 10% and 20%. This occurred on the first trading day after the Lunar New Year holiday, following a 40% drop in China's box office revenue.

Omnijoi Media Corp.: Omnijoi Media Corp. (300528.SZ) is a Chinese film company. Its shares tumbled on Tuesday, following a disappointing Lunar New Year box office performance where revenue fell 40% year-on-year. This decline impacted major production companies, with Omnijoi Media Corp. experiencing a significant drop in its stock price.

Beijing Enlight Media Co. Ltd.: Beijing Enlight Media Co. Ltd. (300251.SZ) is a film production company whose shares tumbled between 10% and 20% following a dismal Lunar New Year box office performance. This decline occurred despite lower ticket prices and increased screening volumes.

Alibaba Group Holding Ltd.: In the presented article, "Alibaba Group Holding Ltd." is mentioned in relation to its AI assistant Qwen. This AI assistant facilitated ticket sales for the Lunar New Year holiday films, notably contributing to a record 53.4% of the box office from third and fourth-tier cities. Over 60% of users purchasing tickets through Qwen were from counties.

AI generated, for reference only