‘Pegasus 3’ Dominates Lunar New Year Holiday Frame

China’s theatrical market surged during the Lunar New Year holiday period (Feb. 17–22), earning RMB4.47 billion ($647.4 million) over the six-day frame, according to data from Artisan Gateway.

The period was led by a slate of major simultaneous releases that debuted on Tuesday, propelling the territory to temporarily become the world’s top-grossing film market for 2026. Racing-comedy “Pegasus 3” emerged as the runaway champion, amassing $369.3 million in its first six days. Directed by Han Han and starring Shen Teng, the third installment in the franchise follows racer Zhang Chi as he leads an underdog national team into the international Muchen 100 Rally.

Zhang Yimou’s espionage thriller “Scare Out” secured the second spot for the holiday period, earning $110.7 million. Starring Jackson Yee and Zhu Yilong, the film centers on a high-stakes counterintelligence operation to plug a leak of classified data.

In third, martial arts epic “Blades of the Guardians” took in $97.3 million (RMB 691.0 million). Directed by Yuen Woo-ping and starring Wu Jing, Nicholas Tse and Jet Li, the adaptation of the popular manhua follows a skilled mercenary named Dao Ma as he treks across the harsh deserts of the Western Regions. Tasked by a benefactor with an escort mission, he must safely transport a mysterious fugitive to Chang’an, unknowingly becoming caught in a perilous scheme with national consequences.

Animation staple “Boonie Bears: The Hidden Protector” followed in fourth with $89.7 million (RMB 637.0 million). The 12th feature film in the Fantawild franchise sees Briar, Bramble and Vick embark on a new adventure in Eve City.

Jackie Chan’s action-comedy sequel “Panda Plan 2” rounded out the holiday top five with $24.6 million (RMB 175.0 million). Directed by Derek Hui, the film follows Chan as he protects the beloved panda Hu Hu from international thieves after stumbling upon a hidden primitive tribe that hails the panda as a divine key to their survival.

While the 2026 year-to-date revenue of $1.08 billion is currently down 64.6% from the 2025 period, the holiday surge has significantly narrowed the gap for the spring season.