Merchandise for the Chinese animated film Ne Zha 2 is in high demand, with collector items selling at "unprecedented" rates following its blockbuster release.
In Shanghai, fans of the movie have packed into toy stores to buy collector figurines that come in "blind boxes". The items have sold out quickly, but that has not stopped customers from waiting for stocks to replenish.
"The pre-sale has already started, so I came here especially to queue for the pre-sale registration. I'd be willing to wait even if it takes two to three months to get the products. I love to buy the blind boxes because the movie is quite good and I have a hobby of collection," said a consumer.
According to salespeople, one of the most popular Ne Zha 2 items are collector cards.
"Yesterday, we just replenished seven boxes of 'Ne Zha 2' cards. By now, we've sold around four boxes. This is quite unprecedented, as 'Ne Zha 2' is, so far, the only IP (intellectual property) that has sold for four boxes of cards in one day," said Lin, a staff member at a collectible card store.
Meanwhile, online shoppers have also been eager to purchase publications, stuffed toys and even snacks related to the film.
"Our e-commerce platform has set up a special section for 'Ne Zha 2' merchandise. In the first 10 days since the movie's release, its co-branded products have sold for over 12 million yuan (about 1.64 million U.S. dollars), with the sales of its figurines and blind boxes growing by nearly 50 times. The sales volume of its three co-branded dairy products has also surpassed five million yuan since its screening," said Jaidar Tabus, a staff member of the purchase and sales department with an e-commerce platform.
Ne Zha 2's success suggests that the Chinese market still contains untapped potential for capitalizing on future hits, with industry insiders pointing out that merchandising may comprise up to 70 percent of the total revenue.
Hit animated film Ne Zha 2 drives massive merchandise sales
China's securities regulator has pledged to prioritize market stability and resolutely prevent sharp fluctuations as a core objective for 2026, aiming to consolidate sound development of the capital market.
The China Securities Regulatory Commission (CSRC) made the commitment at its annual work conference on Thursday, where the regulator reviewed the past year's performance and outlined key tasks for 2026.
In 2025, listed companies distributed a combined total of 2.68 trillion yuan (about 380 billion U.S. dollars) in cash dividends and share buybacks throughout the year, further consolidating the momentum for high-quality development.
Initial public offerings (IPOs) and follow-on offerings reached a combined 1.26 trillion yuan, while the exchange bond market issued various bonds totaling 16.3 trillion yuan.
Eighteen futures and options products were smoothly listed, demonstrating the robust functioning of the multi-tiered capital market.
The meeting emphasized that while the capital market currently shows stable and sound performance, it still faces complex and severe challenges posed by intertwined domestic and external risks as well as the overlapping of persisting and emerging issues.
Efforts will be made to effectively enhance the intrinsic stability of the market, the CSRC said, adding that it will rigorously investigate and punish excessive speculation, market manipulation, and other illegal activities to prevent sharp market fluctuations.
It will work to foster a market ecosystem where "long-term capital engages in long-term investment," the regulator said, pledging efforts to broaden the channels for medium and long-term capital inflows, introduce various products and risk management tools suited to long-term investment, and actively guide long-term, rational and value-based investment.
It also vowed to enhance the inclusiveness and adaptability of the multi-tiered equity market, crack down on illegal activities such as financial fraud, price manipulation and insider trading, and enhance corporate governance among listed firms.
The CSRC will advance the two-way opening up of the capital market in 2026.
Efforts will be made to expedite the implementation of the optimized Qualified Foreign Institutional Investor scheme, expand the scope of futures products accessible to foreign investors, and enhance the facilitation of cross-border investment and financing, the regulator said.
China's securities regulator stresses market stability in 2026 work plan
China's securities regulator stresses market stability in 2026 work plan
