China's movie theaters saw a huge rush during the Lunar New Year holiday from February 17 to 22. The film Pegasus 3 topped the China box office, pulling in nearly RMB2.33 billion. That helped the whole market earn RMB4.47 billion, or about $647 million. For a short time, China became the world's biggest box office market in 2026, beating North America.
Key Takeaways
- Pegasus 3 earned RMB2.33 billion in six days, leading all films.
- Total holiday box office reached RMB4.47 billion, topping global rivals.
- Other hits included Scare Out at RMB712 million and Blades of the Guardians at RMB589 million.
- China's year-to-date total now leads the world at around $1.076 billion.
Background
Families across China headed to cinemas in big numbers. The Lunar New Year, or Spring Festival, always brings crowds. This year, movies released on Tuesday, February 17, the first day of the holiday. People had time off work and school. They wanted fun stories to watch together.
Pegasus 3 comes from director Han Han. He's a former racer and writer. The film stars Shen Teng as Zhang Chi, a wild driver. It's the third in the series. The first Pegasus hit screens in 2019. It made good money but didn't win the holiday top spot. That went to The Wandering Earth, a sci-fi hit. Pegasus 2 came out in 2024. It raced close but lost to YOLO, a story about a woman's big life change.
This time, Pegasus 3 took the lead from day one. It held the number one spot every day of the six-day frame. Fans love the racing scenes. They last over 45 minutes. That's longer than in the earlier films. The story shows Chinese drivers teaming up against outsiders. One part has a driver sacrifice his spot to help a teammate. Another moment has rivals remind each other during the big race. Viewers call it China's take on Formula 1 racing.
The holiday started on Sunday, February 15, but most new films dropped on Tuesday. One came Thursday, another Friday. All top films spoke Chinese. They pushed out holdovers from Hollywood and local reruns. Titles like The Shining and La La Land faded fast.
China's cinemas did well on premium screens too. Over 750 IMAX theaters made $25.2 million in six days. Pegasus 3 took $21.7 million of that. It's the best for a Chinese-language film on IMAX since Ne Zha 2 last year.
But numbers aren't as high as last year. Last Spring Festival brought over $1 billion. This year sits lower. Holidays came earlier in 2025, so timing plays a part. China's full year-to-date box office is still down 64% from last year at this point.
Key Details
Pegasus 3 didn't just win in China. It topped the global weekend chart with $152.2 million. That's from its home market alone. Deadline Hollywood noted the shift. They said the biggest movies weren't from Hollywood. Sorry, Wuthering Heights.
Here's how the top films stacked up after six days:
| Film | Earnings (RMB) | Earnings (USD approx.) |
|---|---|---|
| Pegasus 3 | 2.33 billion | $337 million |
| Scare Out | 712 million | $103 million |
| Blades of the Guardians | 589 million | $85 million |
| Boonie Bears: The Hidden Protector | 570 million | $82 million |
| Panda Plan: The Magical Tribe | ~170 million | $25 million |
Scare Out is a spy thriller from Zhang Yimou. It follows counter-espionage work. Strong on national security themes. It led on five of the six days but slipped to second.
Blades of the Guardians mixes martial arts stars from four generations. Directed by Yuen Woo-ping. Word of mouth helped it climb to third. It grabbed $3 million on IMAX.
Boonie Bears is a kids' favorite. This one, The Hidden Protector, held fourth. It's the 12th in the animation series. Families keep coming back.
Jackie Chan's Panda Plan landed fifth. Reviews beat its 2023 prequel. Still, it trailed far behind.
IMAX and Premium Screens Boost
Premium formats drew crowds. Pegasus 3 broke franchise records on IMAX after four days. Scare Out added $500,000 there. The push for big screens helped totals climb.
By Sunday, including presales, the market hit 7.6 billion yuan, or $1.1 billion. That passed North America's $939 million. China's running total for 2026 now stands at $1.076 billion against $1.03 billion for the US and Canada.
"Pegasus 3's racing scenes exceed 45 minutes of intense action. Chinese drivers stand united against outside teams." – Fan review on Douban
The film appeals wide. Kids to grandparents pack seats. Shen Teng's comedy pulls laughs. Han Han's direction keeps pace tight.
Other notes. Five main new releases drove the surge. They offer broad stories and strong effects. Hollywood struggles lately in China. Zootopia 2 did okay, but many flops hit.
And crowds lined up. In Tianjin, people waited to buy tickets. The holiday mood mixed family time with big screens. For a week, China led the world in ticket sales.
What This Means
Local films rule again. All top five spots went to Chinese titles. That shows tastes shifting. Viewers want homegrown stories with action and heart. Espionage, racing, martial arts, animation. They fit holiday vibes.
Pegasus 3 marks a win for the franchise. Shen Teng cements his star power. Han Han proves his draw. The series now holds over 7 billion yuan total from three films.
Box office leaders hint at market health. China nudged ahead globally. But yearly drops worry some. Lower than 2025. Early holidays skew views. Still, the boom reassures theater owners.
Studios eye patterns. Strong word of mouth lifted Blades of the Guardians. Comedy and thrills in Pegasus 3 hooked all ages. Spy tales in Scare Out tap patriotism.
For global eyes, it spotlights China power. Four Chinese films in world's top five. Wuthering Heights took fourth. The rest? All from the holiday rush.
Cinemas bet on premium. IMAX earnings show demand for quality views. That could shape future releases. More films chase those screens.
Fans keep buzzing. Douban scores praise racing thrills. Some note weak emotional starts. But action wins out. Expect Pegasus 3 to run longer.
This surge beats tough times. Post-pandemic, holidays anchor earnings. It sets tone for 2026. Local hits lead. Hollywood watches close.
Check our coverage on how GOAT tops box office in other races. And see KPop Demon Hunters sweeps Annie Awards for animation wins.
Frequently Asked Questions
What is Pegasus 3 about?
It's a racing comedy. Shen Teng plays Zhang Chi, a reckless driver. The team faces big races. They unite against foreign rivals in thrilling scenes.
How does this compare to past years?
This holiday made RMB4.47 billion. Last year topped $1 billion but over different days. Pegasus 3 finally won the top spot for its series.
Will Pegasus 3 keep leading?
Likely yes. It holds strong daily leads. Word of mouth helps. Total could hit $400 million in China alone.
Frequently Asked Questions
What is Pegasus 3 about?
It’s a racing comedy. Shen Teng plays Zhang Chi, a reckless driver. The team faces big races. They unite against foreign rivals in thrilling scenes.
How does this compare to past years?
This holiday made RMB4.47 billion. Last year topped $1 billion but over different days. Pegasus 3 finally won the top spot for its series.
Will Pegasus 3 keep leading?
Likely yes. It holds strong daily leads. Word of mouth helps. Total could hit $400 million in China alone.
