China Box Office: Pegasus 3 Hits $530M, But Holiday Market Trails 2025

Han Han’s Pegasus 3 continued its dominance at the China box office this past weekend, adding $49.5 million (RMB 351.3 million) to reach a cumulative $529.6 million (RMB 3.76 billion). The racing comedy has become the clear driver of China’s 2026 film market, though overall holiday revenues remain far below last year’s record-setting numbers.

Market Struggles Compared to 2025

Weekend ticket sales totaled $107.9 million, bringing China’s cumulative 2026 box office to $1.41 billion. That figure represents a steep 55.9 percent decline compared to the same period in 2025, when Ne Zha 2 was still in its historic run toward $2.2 billion. The animated blockbuster single-handedly lifted the market last year, a feat unmatched in 2026.

Han Han’s Franchise Success

Director Han Han has built one of China’s most consistent film franchises. After early success with The Continent (2014) and Duckweed (2017), he launched the Pegasus series in 2019. Pegasus 2 earned $464 million in 2024, and the third installment is now on track to surpass $600 million. Han’s journey from blogger and rally racer to box office powerhouse underscores his unique place in Chinese cinema.

Other Weekend Movers

• Blades of the Guardians: Yuen Woo-ping’s martial arts epic earned $20.3 million, climbing to $158.2 million total. The wuxia spectacle, featuring Wu Jing, Nicholas Tse, Yu Shi, Tony Leung Ka-fai, and Jet Li, has surpassed RMB 1 billion thanks to strong word-of-mouth.
• Scare Out: Zhang Yimou’s espionage thriller slowed to $14.5 million, reaching $155.4 million overall. Starring Jackson Yee and Zhu Yilong, the film explores national security and intelligence leaks.
• Boonie Bears: The Hidden Protector: Fantawild Animation’s family hit added $13.5 million, lifting its total to $132.1 million. The film blends Lunar New Year mythology with fantasy adventure.
• Night King: Jack Ng’s Hong Kong comedy earned $4.8 million, climbing to $19.7 million. Starring Dayo Wong and Sammi Cheng, the film has already broken records in Hong Kong.

Hollywood Returns to China

With the holiday blackout on imports ending, Hollywood films are set to re-enter the market. Upcoming releases include Maggie Gyllenhaal’s The Bride! (March 6), Chris Hemsworth’s Crime 101 (March 7), and Margot Robbie and Jacob Elordi’s Wuthering Heights (March 13). Sony Animation’s GOAT and Marty Supreme will follow later in March, while MGM’s Project Hail Mary and Pixar’s Hoppers are positioned as major spring tentpoles.

Despite Pegasus 3’s strong showing, China’s 2026 box office remains far behind last year’s pace. The industry now looks to both domestic hits and Hollywood imports to revive momentum in the months ahead.