China Box Office: Hong Kong’s ‘Cyber Heist’ Takes Top Spot in Mainland Chinese Cinemas

Patrick Frater Asia Bureau Chief Taiwan has become a go-to destination for Chinese language series production over the past few years, as international streamers have taken the initiative and as the local content trend has become entrenched in Asia. While some of Taiwan’s advantage may have been handed to it as a result of regional political factors, the movement has led to greater interest in Taiwan stories, both historical and modern.Five Taiwan TV projects are being pitched at Series Mania, that are deemed to have international appeal according to Taiwan Creative Content Agency (TAICCA), a government-backed agency that has become noticeably proactive over roughly the same period.

Patrick Frater Asia Bureau Chief It is becoming harder not to perceive Tencent, China’s tech and entertainment giant and the world’s largest games firm by revenue, as a utility. It is now too big to be a growth stock darling and too widely-spread to escape the gravity of China’s underlying economic trends. Revenues in calendar 2022 flatlined at RMB554 billion, while net profits dropped 16% to RMB188.2 billion ($27.0 billion). The decrease reflected China’s economic reversal that began in the second quarter of the year with the arrival of a new COVID strain and stricter government measures to combat it. Tencent’s advertising revenues fell slightly, costs rose somewhat, and subscriber number were mixed – rising in music, but falling in video.

Patrick Frater Asia Bureau Chief The theatrical release of low-budget slasher movie “Winnie the Pooh: Blood and Honey” in Hong Kong has been abruptly canceled just two days before its scheduled outing. No explanation has been offered, but suspicions that the film may have crossed one of Hong Kong’s increasingly complicated political red lines are certain to be raised. That is because the Winnie the Pooh character is unflatteringly perceived to have a physical resemblance to China’s president, Xi Jinping. Online search for Winnie the Pooh is heavily censored within mainland China and Winnie the Pooh products are not distributed. China did not permit the import and release of Disney’s 2018 Winnie the Pooh film “Christopher Robin.”

Patrick Frater Asia Bureau Chief “Like & Share” from Indonesia’s Gina S. Noer was named the best picture and collected the Grand Prix on Sunday at the Osaka Asian Film Festival. “All of us on the jury were struck by the film’s clear and powerful message, which affirms young women’s sexual curiosity and desire while clearly saying no to sexual violence. The style of the film is also original. The sweet, poppy feeling that fascinates the audience in the first half of the film becomes darker as the story progresses, making us shudder. “Like & Share,” with its strong message and brilliant direction, is a film that needs to be seen now more than ever,” said the jury in a statement.

Patrick Frater Asia Bureau Chief Hollywood’s new release titles fantasy action adventure “Shazam! Fury of the Gods” and horror thriller “M3gan” made only modest impressions on the box office in mainland China in their opening weekends. The box office chart was led by “Post-Truth,” a Chinese comedy which probes the impact of social media in a story about a wronged small-time businessman. It earned $18.8 million (RMB130 million) in its second weekend of release, according to data from consultancy Artisan Gateway. That was an increase of more than 10% on its opening frame. After ten days on release, “Post-Truth” has a cumulative of $51.2 million (RMB353 million).

Patrick Frater Asia Bureau Chief The Hong Kong Trade Development Council said Thursday that 7,300 executives from 41 countries had attended its FilMart and Entertainment Pulse events this week (March 13-16). “The revived physical marketplace was as vibrant and active as in the past,” organizers claimed. In 2019, the last year that FilMart was held as an in-person event, the TDC reported “close to 9,000 visitors from 52 countries and regions.” For 2023, it reported “over 700 exhibitors from 30 countries and regions,” including a record Mainland China exhibitor tally exceeding 330. Those numbers compared with 888 exhibitors from 35 countries and regions in 2019, including 264 exhibitors from China.

Patrick Frater Asia Bureau Chief “We 12,” a movie featuring the entire group of 12 Mirror Canto-pop stars is part of the expanding production slate of Makerville, the talent and production arm of Hong Kong telecoms and TV group PCCW. The development is paralleled by an expansion of the production operations of Viu, PCCW’s multi-territory video streamer which recently confirmed its profitability. Makerville is the talent agency behind Mirror, which was created in 2018 through the “Good Night Show – Kingmaker” talent show on ViuTV, a PCCW terrestrial channel. And it was able to put all the band members on stage Wednesday at a promotional event within the FilMart rights market in Hong Kong.

Patrick Frater Asia Bureau Chief Kowloon Walled City — one of Hong Kong’s most famous landmarks, or infamous trouble spots, depending on your point of view — fell prey to the developers’ bulldozer 30 years ago. But it remains an icon of the territory’s gritty spirit and is being painstakingly re-created for action thriller feature “Twilight of the Warriors: Walled In.” The film is a beacon for how Hong Kong cinema is now evolving. Directed by hot-shot Soi Cheang, whose “Mad Fate” recently played in Berlin and is set for imminent local release, “Twilight” boasts leading stars Louis Koo, Sammo Hung and Richie Jen, plus emerging talents Philip Ng, Raymond Lau and Terrance Lau.

Patrick Frater Asia Bureau Chief The recent reopening of the mainland Chinese box office, including a $1 billion Chinese New Year holiday season, has put a different complexion on the global theatrical industry. Few companies could be closer to that change in fortune than Imax China, a stock market-listed subsidiary of the Imax Corp. The company operates as both a supplier of screens, audio and projection equipment for premium cinemas and as a partner in making local Chinese films fit for exhibition in the giant format. During Chinese New Year, Imax was represented by “Avatar: The Way of Water” and four Chinese movies. Daniel Manwaring, CEO of Imax China, spoke to Variety in his first interview since taking on the top job in January.

Patrick Frater Asia Bureau Chief “We need more love stories, even if they have their ups and downs,” says Hong Kong-based producer Cora Yim, who is behind the Hong Kong – Asia Film Financing Forum (HAF) in-development project “The Marriage Drive.” HAF runs takes place alongside the FilMart rights market.  The film is a simple-to-describe idea that writer-director Lawrence Kan has been kicking around and developing for some six years. The story involves a middle-class professional couple — he’s in the legal sector, she’s in finance — and tracks their childless, but not loveless, marriage over a period of 10 years from marriage to divorce.

Patrick Frater Asia Bureau Chief Work-in-progress film project “The Remnant” is both a spotlight on those who feel powerless and also a very Hong Kong example of elements of the city pulling themselves up. “The Remnant” is one of the projects in the Hong Kong – Asia Film Financing Forum (HAF) unspooling March 13-15 alongside Hong Kong’s Filmart market. It tells the story of a former gangster who, upon his release from prison, sets up a laundry in an anonymous district and lives a quiet life. After property developers try to grab a rundown building, young gangsters try to throw people out of the building, drug addicts cause trouble and the old-timer heeds his neighbors’ calls and fights back.

Patrick Frater Asia Bureau Chief Despite a barnstorming address celebrating the re-opening of Hong Kong and China by Bona Film Group COO Jiang De Fu, it is clear that the film industry in China is still suffering its own version of long-COVID, with box office tracking at around half of 2018 levels. “The Chinese box office was RMB60.7 billion ($8.89 billion at current rates of exchange) in 2018. And 83 films made over RMB100 million. 16 films that made over RMB1 billion. Post-pandemic, in 2022, China’s box office was RMB29.9 billion. [Just] 41 films made over RMB100 million. [And] 8 films made over RMB1 billion. We are now only at 50% of the level in 2018,” said Jiang aty a presentation on the first day of Hong Kong’s FilMart.

Patrick Frater Asia Bureau Chief “Post-Truth,” a Chinese comedy film about a cemetery plot salesman trying to salvage his reputation in the face of online assaults, topped the cinema box office in mainland China over the weekend, ahead of another new release title “Revival.” Data from consultancy Artisan Gateway showed that “Post-Truth” earned $17.0 million between Friday and Sunday. Including preview, it has a cumulative of $20.3 million. Crime drama, “Revival” earned $10.3 million over the weekend and has a running total of $11.4 million including previews. The two newcomers dominated the box office and relegated Hong Kong-produced courtroom drama “A Guilty Conscience” to a distant third place. “Guilty” took $2.3 million (RMB15.8 million) for a cumulative of $23 million since releasing on Feb. 24.

Patrick Frater Asia Bureau Chief After three editions that were canceled due to a combination of COVID and bad timing, Hong Kong’s FilMart film rights market may have finally had some things go its way. It opens March 13 with many factors now moving in its favor. Not least of these are the moves by the Hong Kong government to end its previously harsh and persistent disease-control measures. The city wound down its disruptive quarantine and tracking measures at the end of 2022, opened its borders in January and finally dropped its mask mandate in the last 10 days. “We saw an immediate jump in interest from buyers and sellers after Chinese New Year’s border opening and there were no more restrictions on the food and beverage sector,” says Gloria Chan, section head for the entertainment industry at FilMart organizer, the Hong Kong Trade Development Council.

Patrick Frater Asia Bureau Chief Hong Kong-based indie sales agent Autumn Sun comes to FilMart with a bulging slate of new film titles from around Asia — including two animated features from mainland China. Autumn Sun, headed by sales veteran Elliot Tong, is giving a market premiere to “Planet Cat,” an animated feature by Song Yuefeng (“Ping Pong Rabbit,” “Throne of Elves”) about a chance meeting between a stray cat and a girl in a city at night. The film is produced by Nuctopus Studio and Dreamers Studio and previously won a development prize at the Beijing International Film Festival. The feature is now in post-production and a promo reel is being screened at the market.

Patrick Frater Asia Bureau Chief The much-decorated Japanese drama “Drive My Car” was named the best film Sunday at the Asian Film Awards, defeating hot favorite “Decision to Leave.” Other notable awards went to Japan’s Hirokazu Kore-eda whose “Broker” debuted at Cannes, but which was largely shunned in his home country. “Decision to Leave,” which started the evening with ten nominations, was nevertheless rewarded with three awards, best screenplay, best production design and best actress for China’s Tang Wei.

Patrick Frater Asia Bureau Chief The Asian premiere of Soi Cheang’s “Mad Fate” is just one of three locally-produced movies that have been set as the opening and closing titles of the upcoming Hong Kong International Film Festival. “Mad Fate” is joined in the festival opening slot on March 30 by “Elegies,” Ann Hui’s documentary portrayal of the topography of contemporary local poetry, which will have its world premiere. The closing film, another world premiere, is “Vital Sign,” an affecting drama directed by Cheuk Wan-chi and starring Louis Koo, Yau Hawk-sau, and Angela Yuen, which will wrap up proceedings on 10 April. In total, the festival has programmed some 200 films from 64 countries and territories. These include nine world premieres, six international premieres, and 67 Asian premieres.

Patrick Frater Asia Bureau Chief American musical comedy film “Lyle Lyle Crocodile,” is set to release in mainland China cinemas, having received approvals for import and distribution from Chinese authorities. It will play in China from April 15, 2023. The film was released in North America in early October last year and many other territories at the end of 2022. Parts of Asia have been later to receive the title with Korea and Taiwan play it from January and Japan set to open it from March 24. The film has grossed $108 million worldwide, with $60.9 million of that coming from international markets and $46.8 million from the North American domestic market, studio backer Sony Pictures reported.

Patrick Frater Asia Bureau Chief Adam Driver-starring sci-fi adventure film “65” has been approved for theatrical release in mainland China. It will hit cinemas on March 31, some three weeks after the film began to release in other international territories. The film is branded as a Columbia Pictures title and will be released by the Sony label in most territories. In China, however, all revenue-sharing import titles are officially handled by a state-owned enterprise. The Hollywood studio’s Chinese office theoretically operates in an advisory capacity, though in practice it is likely to be involved in marketing strategy and p&a decisions. The film has a survival-quest narrative. After a catastrophic crash on an unknown planet, pilot Mills (Driver) quickly discovers he’s actually stranded on Earth some 65 million years ago. Now, with only one chance at rescue, Mills and the only other survivor, Koa (Ariana Greenblatt), must make their way across an unknown terrain riddled with dangerous prehistoric creatures in an epic fight to survive.

Patrick Frater Asia Bureau Chief TriStar Pictures film “The Woman King” has been given official permission to release in cinemas in mainland China. It is expected to debut on April 14. The Viola Davis-starring fantasy action film had its world premiere at the Toronto International Film Festival in September last year and went into U.S. and international commercial release shortly after. The film has grossed $97.2 million worldwide, with $29.9 million coming from international markets and $67.3 million in North America. While the China release is significantly later than the rest of the world, potentially opening the film to online piracy, the launch date was communicated by Chinese authorities with some five weeks of advanced notice. That is more than many Hollywood films have received in China and gives the local marketing teams a reasonable chance to promote the film’s theatrical launch.