As of October 8th, the National Day and Mid-Autumn Festival holiday period is nearing its end, yet the movie market remains robust. According to Lighthouse Professional Edition data, as of 11 AM on October 8th, the total box office for the 2025 National Day holiday period has exceeded 17.58 billion yuan (including pre-sales). Among them, "Volunteer Army: The Battle for Peace," "731," and "The Writer 2" currently rank in the top three, with box office revenues of approximately 4.34 billion yuan, 3.35 billion yuan, and 2.84 billion yuan respectively.
The 8-day holiday period combining Mid-Autumn Festival and National Day provided a longer time window for box office growth. This year's National Day holiday period featured over ten new film releases, including "Volunteer Army: The Battle for Peace," "The Writer 2," "A Life on the Road," "Loud and Clear," and "The Wind Forest Volcano." The genres were diverse, encompassing comedy, war, drama, family, fantasy, action, crime, and animation.
Currently topping the National Day holiday box office is "Volunteer Army: The Battle for Peace," which has accumulated a total box office of 4.66 billion yuan since its release. The film is directed by Chen Kaige and stars Zhang Zifeng, Song Jia, and Zhu Yawen in leading roles. This film serves as the finale of the "Volunteer Army" trilogy series, with the first two films achieving a combined box office of over 20 billion yuan.
Behind the bustling National Day holiday period, numerous listed companies have already made strategic layouts. "Volunteer Army: The Battle for Peace" is produced by China Film Group Co.,Ltd. (600977.SH) and Bona Film Group Co.,Ltd. (001330.SZ), with co-producers including Huayi Brothers (300027.SZ) and Wanda Film (002739.SZ).
The fantasy action film "The Writer 2" currently ranks third with approximately 2.84 billion yuan in box office revenue. Its predecessor achieved over 10 billion yuan in box office revenue during the 2021 Spring Festival period. This film is a major investment project of Huace Media (300133.SZ), with other producers including Maoyan Entertainment (01896.HK) and China Film Group Co.,Ltd.
Additionally, "A Life on the Road," produced by China Film Group Co.,Ltd., Hengdian Entertainment under Hengdian World Studios (603103.SH), and subsidiaries of Wanda Film, currently ranks fourth with a box office of 2.07 billion yuan.
"Loud and Clear," China's first realistic film focusing on anti-fraud themes within the deaf community, also involves producers including China Film Group Co.,Ltd., Maoyan Entertainment, and Hengdian World Studios.
The A-share market is currently closed for the holiday, but before the holiday period, the film and cinema sector and some individual stocks had already shown upward trends. On September 30th, Hengdian World Studios hit the daily limit, Huace Media rose 5.57%, while Shanghai Film, China Film Group Co.,Ltd., and Enlight Media (300251.SZ) posted modest gains.
Zhongyuan Securities believes that the National Day holiday film lineup is relatively rich and is expected to continue driving the recovery of movie-watching demand. Some film content companies are exploring derivative product businesses based on their proprietary IP, breaking away from sole dependence on content box office revenue, broadening the commercial paths for content, and reducing performance volatility risks. Furthermore, the "Broadcasting 21 Articles" improvements in regulatory policies for film and TV content creation, content importation, and production and broadcasting models can further enhance the attractiveness of domestic film and TV content and optimize the profitability of film and TV companies.
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