CITIC Securities: Optimistic about the box office performance of the Spring Festival movies in 2026, optimistic about the performance of imported films for the whole year.

According to the research report of CITIC Securities, looking back at 2025, three major industry trends were identified: 1. Animated films series shined. In the top ten box office of 2025, there were 4 animated films, with two of them setting records. 2. Derivative layouts becoming a trend, maximizing the commercial value of IPs with "short-term box office + long-term derivatives". 3. Import films supply is sufficient, becoming important supply for summer and New Year holidays. Looking ahead to the 2026 Spring Festival holiday season, two high-grossing IP sequels, "Crazy Alien 3" and "Boonie Bears 12" have been scheduled, with heavyweight films from Damai, Maoyan, Wanda Films and Chinese films yet to be scheduled. With a strong cast and excellent past box office performance of similar films, the 2026 Spring Festival holiday season is still expected to perform well. Looking ahead to the entire year of 2026, the performance of import films is still promising. Sequels of top IPs like "Avengers", "Spider-Man", "Toy Story", "Minions" are expected to be brought into the country. With smooth import of foreign films in 2025 and a rich reserve of Hollywood films in 2026, the domestic import film box office performance is expected to be good this year.