2月15日，"最长春节假期"拉开帷幕。在今年这个长达9天的假期里，作为春节社交的刚需性节目，春节档 电影自然而然又一次成为大众关注的焦点之一。虽从声浪来说，2026春节档电影不及去年声势浩大，但相 比于以往春节档喜剧片扎堆的单调格局，今年春节档可以说是各种类型电影争奇斗妍。比如，张艺谋导演 作品《惊蛰无声》交出了一份现代谍战题材的新可能；《镖人：风起大漠》（以下简称《镖人》）以拳拳 到肉的极致江湖故事实现接连逆跌；《飞驰人生3》《熊出没·年年有熊》等合家欢续作，满足了观众对"情 怀"的期待，让观众在熟悉的面孔中找寻"年味"。 春节档电影类型更趋多元，而这只是表面显性的新变化之一，继续抽丝剥茧则可以窥见行业更大的"新 意"：电影经济作为拉动内需的强力马车，正激发出更强大的文娱消费乘数效应。关于此，上月由国家电 影局发布的一项数据便是最有力的证明：2025年，中国电影（600977）全产业链产值达8172.59亿元，票房 拉动系数高达1∶15.77，意味着每1元票房产生了接近16元的关联产值。 从取景地旅游到IP衍生品开发，从观影带动的餐饮交通到沉浸式体验消费，电影的经济辐射半径，早已远 远超出了影院范畴。或许正 ...

2月15日，"最长春节假期"拉开帷幕。在今年这个长达9天的假期里，作为春节社交的刚需性节目，春节档电影自然而然又一次成为大众关注的焦点之一。虽 从声浪来说，2026春节档电影不及去年声势浩大，但相比于以往春节档喜剧片扎堆的单调格局，今年春节档可以说是各种类型电影争奇斗妍。比如，张艺谋 导演作品《惊蛰无声》交出了一份现代谍战题材的新可能；《镖人：风起大漠》（以下简称《镖人》）以拳拳到肉的极致江湖故事实现接连逆跌；《飞驰人 生3》《熊出没·年年有熊》等合家欢续作，满足了观众对"情怀"的期待，让观众在熟悉的面孔中找寻"年味"。 春节档电影类型更趋多元，而这只是表面显性的新变化之一，继续抽丝剥茧则可以窥见行业更大的"新意"：电影经济作为拉动内需的强力马车，正激发出更 强大的文娱消费乘数效应。关于此，上月由国家电影局发布的一项数据便是最有力的证明：2025年，中国电影全产业链产值达8172.59亿元，票房拉动系数 高达1∶15.77，意味着每1元票房产生了接近16元的关联产值。 从取景地旅游到IP衍生品开发，从观影带动的餐饮交通到沉浸式体验消费，电影的经济辐射半径，早已远远超出了影院范畴。或许正是前瞻预判到了这一新 的 ...

Core Insights - The report from Lighthouse Research Institute indicates that the total box office for the 2026 Spring Festival period reached 5.752 billion, with total audience attendance at 120 million, highlighting significant growth in the film market during this period [1] Group 1: Box Office Performance - The top three films during the Spring Festival were "Fast Life 3," "Silent Awakening," and "Bounty Hunter: Wind Rises in the Desert," with box office earnings of over 2.9 billion, 867 million, and 806 million respectively [6] - The average ticket price for the Spring Festival was 47.8 yuan, the lowest since 2021, indicating a further reduction in viewing barriers for audiences [2] - The total number of screenings exceeded 4.35 million, setting a historical high for the Spring Festival [2] Group 2: Audience Demographics - The proportion of male viewers increased significantly, with male audience participation rising due to the popularity of films like "Fast Life 3" and "Bounty Hunter: Wind Rises in the Desert," leading to a more balanced gender ratio in the audience [6] - The share of box office revenue from third and fourth-tier cities reached nearly 53%, indicating a strengthening trend towards lower-tier markets [4] Group 3: Consumer Behavior and Trends - The integration of AI ticket purchasing and tourism experiences has created a new "movie+" consumption landscape, with a 66-fold increase in ticket sales through the AI-enabled platform [8] - Major filming locations for "Silent Awakening" became popular tourist spots, driving local tourism and consumer spending [8] - The collaboration between Dama APP and Taobao Flash Sale introduced various promotional activities, enhancing the connection between film viewership and local consumption [8] Group 4: Industry Implications - The 2026 Spring Festival demonstrated that films are no longer isolated cultural products but serve as a nexus for emotions, experiences, and the real economy [10] - Dama Entertainment's strategic positioning in offline entertainment content and consumption scenarios is driving the exploration of the "movie+" value extension [10]

关注后续影片定档节奏和表现。展望后续，《天才游戏》《千金不换》等国产影片，《呼啸山庄》《挽 救计划》等进口影片已定档，其他储备国产影片《蛮荒禁地》《转念花开》《抓特务》《澎湖海战》 等；进口影片《奥德赛》《覆仇者联盟5》。(格隆汇) 港股影视股大幅下跌，其中，大麦娱乐大跌9%，猫眼娱乐大跌7.5%，欢喜传媒跌超5%，英皇文化产 业、稻草熊娱乐、中国星集团跟跌。 消息上，中金发表报告指，根据艺恩，截至2月23日10时统计，2026年春节档有效票房期前6天(大年初 一至初六、2/17至2/22)票房为50.77亿元人民币(下同)，较2025年春节档前6天下降38.7%，预计档期票房 或低于此前预期的65至85亿元区间，主要因高基数下龙头影片欠缺。《飞驰人生3》票房领跑，《惊蛰 无声》位居第二名。 | 代码 | 名称 | 最新价 | 涨跌幅 へ | | --- | --- | --- | --- | | 01060 | 大麦娱乐 | 0.810 | -8.99% | | 01896 | 猫眼娱乐 | 6.340 | -7.45% | | 01003 | 欢喜传媒 | 0.270 | -5.26% | | 00491 ...

| 奇遇记 | 19255.95 | 3.3% | 6.2% | 17.2% | | --- | --- | --- | --- | --- | | 2026-02-17上映 | | | | | | 星河入梦 | 8039.53 | 1.4% | 3.4% | 12.5% | | 2026-02-17上映 | | | | | | 夜王 | 7096.30 | 1.2% | 1.3% | 22.9% | | 2026-02-20上映 | | | | | | 疯狂动物城2 | 2802.42 | 0.4% | 2.6% | 5.1% | | 2025-11-26上映 | | | | | | 重返·狼群 | 1271.03 | 0.2% | 0.6% | 10.6% | | 2026-02-19重映 | | | | | | 阿凡达3 | 823.78 | 0.1% | 0.6% | 3.9% | | 2025-12-19上映 | | | | | 值得一提的是，从全年票房来看，2月23日下午，据央视新闻援引网络平台数据，2026年年度电影总票 房（含预售）突破80亿，暂列全球单一市场票房第一。此外，截至目前，2026 ...

Box Office Performance - The 2026 Spring Festival box office has exceeded 4 billion yuan, with total screenings surpassing 4 million, setting a new record for the Spring Festival in China [1] - "Flying Life 3" has achieved a box office of over 2 billion yuan, capturing nearly 50% of the Spring Festival box office [3] - The total ticket sales reached approximately 82.27 million tickets, with an average ticket price of 48.6 yuan [2] Film Rankings - "Flying Life 3" leads the box office with 2,043.39 million yuan, accounting for 49.5% of the total box office [2] - "The Silent Awakening" follows with a box office of 634.49 million yuan, representing 15.9% of the total [2] - "Boonie Bears: Year of the Bear" ranks third with over 507.22 million yuan [9] Actor Performance - Actor Shen Teng has surpassed 39 billion yuan in total box office earnings, solidifying his position as the highest-grossing male lead in China [3] Market Trends - The overall box office for the 2026 Spring Festival is expected to be between 6.5 billion and 8.5 billion yuan, influenced significantly by the performance of leading films [13] - Companies involved in film production and distribution are likely to see stock price fluctuations based on box office expectations, with higher expectations leading to price increases before the festival and potential declines afterward [13] Company Involvement - Multiple listed companies are participating in the 2026 Spring Festival film investments, including Wanda Film, which is involved in "The Silent Awakening" and "Flying Life 3" [13][14] - Other companies like Light Media and Shanghai Film are also engaged in producing films for the Spring Festival [13][14] Stock Market Reaction - Following the festival, the stock performance of companies in the film sector has been less optimistic, with declines observed in shares of major players like Maoyan Entertainment and Damai Entertainment [16]

Core Insights - Damai Entertainment announced a strategic investment partnership with Hong Kong ticketing platform Kuaidao on February 13, aiming to leverage their strengths in the Greater China ticket sales market to jointly explore the Hong Kong, Macau, and Taiwan performance and ticketing market [1] Group 1: Cooperation Details - The cooperation involves multiple levels, including technology support from Damai to Kuaidao, which will promote Damai's ticketing solutions in Hong Kong, Macau, and Taiwan [3] - Business collaboration will focus on offline performance consumption scenarios, sales network construction, and intelligent ticketing services, along with cross-platform ticket distribution and marketing activities [3] - The market strategy will target the Greater Bay Area, facilitating ticket purchasing for Hong Kong and Macau users for mainland performances, and vice versa for mainland audiences [3] Group 2: Company Backgrounds - Kuaidao, established in 2000, is a well-known local ticketing platform in Hong Kong, serving over 5 million users annually and providing ticketing services for more than 30,000 events in the past two decades [3] - Damai Entertainment operates across various sectors, including film, performances, IP commercial derivatives, series, artist management, and ticketing platforms, with a user base of 300 million on its Damai platform [3] - In recent years, Damai has been actively advancing its layout in the Greater China region through commercial investments and project collaborations [3]

Core Insights - The strategic investment partnership between Damai Entertainment and HK Ticket aims to enhance ticket sales experiences in the Greater China region through collaboration and resource integration [3][5] - Damai Entertainment will acquire a stake in HK Ticket, facilitating deeper commercial connections and expanding their market presence in Hong Kong, Macau, and Taiwan [3][5] Group 1: Company Overview - Damai Entertainment is a diversified entertainment company involved in film, performances, IP commercialization, series, artist management, and ticketing, with a user base of 300 million [4] - HK Ticket, established in 2000, is a well-known ticketing platform in Hong Kong, serving over 5 million users annually and providing ticketing services for more than 30,000 events across various venues [4] Group 2: Strategic Partnership Details - The partnership will leverage Damai's technological support and ticketing system services to enhance HK Ticket's operational efficiency and user experience [3][5] - Both companies will engage in cross-platform ticket distribution and marketing activities to improve their ticketing services and market outreach [3][5] Group 3: Market Implications - This collaboration is seen as a crucial step for Damai's expansion in the Greater China market, providing local operational insights and broadening its commercial channels [5] - The partnership is expected to lead to a comprehensive digital upgrade for HK Ticket, enhancing its competitive edge and market influence [5]

Group 1 - The Chinese government is implementing a "Film+" consumption pilot program to boost consumer spending and transform the film industry into a multi-faceted consumption ecosystem [1] - Sixteen cities have been selected as pilot cities for the "Film+" initiative, including Beijing, Shanghai, and Shenzhen, focusing on enhancing film viewing consumption and innovating cinema experiences [1] - The program aims to extend the film industry's value chain and cultivate a healthy film consumption culture, ultimately promoting the prosperity of the film market [1] Group 2 - The pre-sale for the 2026 Spring Festival film season has officially started, with films like "Silent Awakening" and "Bounty Hunter: Winds Rise in the Desert" leading the box office [2] - As of the latest data, the pre-sale box office for the 2026 Spring Festival has exceeded 1.6 billion yuan, indicating a strong start for the film season [2] Group 3 - Key companies in the Hong Kong film and entertainment industry chain include Damai Entertainment, Maoyan Entertainment, IMAX China, and China Ruyi [3]

Group 1 - The core viewpoint of the news is the strategic investment cooperation between Damai Entertainment and the well-known ticketing platform Kuaida Ticket, aimed at enhancing ticket sales experience in the Greater China region [1][4] - Damai Entertainment will acquire a stake in Kuaida Ticket to strengthen their commercial connection and will provide technical support and ticketing system services [4][5] - The collaboration will focus on various aspects such as sales network construction and intelligent ticketing services, aiming to jointly explore the performance and ticketing market in Hong Kong, Macau, and Taiwan [1][4] Group 2 - Kuaida Ticket, established in 2000, serves over 5 million users annually and has provided ticketing services for more than 30,000 events in the Hong Kong and Macau regions [4] - Damai Entertainment has a user base of 300 million and is expanding its presence in the Greater China market through commercial investments and project collaborations [5] - The partnership is seen as a key move for Damai Entertainment's business layout in Greater China, providing international perspective and local operational practice [5]