On February 6, 2025, the Chinese film market saw a historic moment as “Nezha 2” (officially titled “Ne Zha 2”) became the highest-grossing film in China’s box office history. This milestone propelled the stock price of its production company, Beijing Enlight Media Co., Ltd. (officially known as Enlight Media), to a near 4-year high.
As of 13:49 on February 6, “Nezha 2” had accumulated a box office revenue of over RMB 5.8 billion (approximately USD 820 million), surpassing the previous record held by “The Battle at Lake Changjin” at RMB 5.775 billion (approximately USD 816 million). Since its release on January 29, 2025, the film achieved a box office breakthrough of RMB 5 billion (approximately USD 715 million) in just 6 days and 19 hours, demonstrating its explosive market appeal.
According to predictions from major Chinese ticketing platforms such as Light Tower and Maoyan, “Nezha 2” is expected to reach a final box office revenue of over RMB 9.4 billion (approximately USD 1.35 billion). The film has already broken several records in China’s film market, including the highest box office revenue during the Spring Festival season, the highest number of viewers, and the most screenings during the Spring Festival.
As of February 6, the film had attracted over 110 million viewers, closing in on the record of 160 million viewers held by “Wolf Warrior 2.” Based on the current average ticket price of RMB 51 (approximately USD 7.30), the 160 million viewers would correspond to a box office revenue of around RMB 8.16 billion (approximately USD 1.17 billion). “Nezha 2” is expected to narrow this gap further in the coming screenings.
Enlight Media has significantly benefited from the success of “Nezha 2.” As of February 4, 2025, the film had generated a cumulative box office revenue of approximately RMB 4.84 billion (approximately USD 695 million) in China, which exceeded 50% of the company’s revenue in the most recent audited financial year. The company’s revenue from the film is estimated to be between RMB 950 million and RMB 1.01 billion (approximately USD 136 million to USD 145 million). Enlight Media has also announced that the film will be released in multiple countries and regions worldwide, including the United States, Canada, Australia, New Zealand, Singapore, Malaysia, Japan, South Korea, and many others in Asia, the Middle East, Africa, and Europe.
In addition to its box office success, “Nezha 2” has also planned a wide range of derivative products, including collectible toys, action figures, statues, trading cards, stationery, food-related items, badges, posters, publications, plush toys, and daily-use items, catering to diverse consumer preferences.
Analysts from Guoyuan Securities have noted that top-tier films play a significant role in driving overall box office revenues, with high-quality content remaining the core driving force. The success of “Nezha 2” as the Spring Festival box office champion highlights the potential value of its derivative products. The film, along with other strong IP titles like “The Legend of Deification Part II,” has become a preferred choice for licensing and collaborations due to their strong IP attributes and national style elements.
