The film, produced and distributed by Huayi Brothers Media, is understood to have grossed RMB79.3 million ($12.97 million), including takings from midnight screenings on Wednesday night. The score is the second highest opening-day figure of all time for a Chinese movie, behind Stephen Chow’s “Journey to the West: Conquering the Demons” earlier this year, and is the top score for a local 2D picture.
SEE ALSO: Film Review: “Personal Tailor”
Huayi told Variety that the film played some 47,200 screenings and that it sold 2.31 million tickets yesterday. That was 52% of all available screenings in the country, and the film accounted for 85% of Thursday’s nationwide box office.
The film is a sequel to Feng’s 1997 “Dream Factory” and sees Ge You and a motley team of friends run a company which specializes in making eccentric, rich clients’ fantasies come true. “Tailor” has not gone down well critics, which have labeled it little more than a collection of loosely stitched comedy sketches.
Chinese media sources suggest that the opening week total will now hit RMB300 million and that Huayi anticipates the film achieving RMB1 billion by the end of its run. That is a step up for Feng whose big-budget famine drama “Back to 1942” was a significant disappointment for Huayi in a similar December releasing slot last year.
However, poor advanced reviews and a screening for institutional investors on Wednesday weighed heavily on the shares of Huayi.
In trading on Thursday shares dropped by nearly 6% and wiped more than RMB6.3 billion ($1.03 billion) off the company’s market capitalization. The stock recovered most of the lost ground on Friday, bouncing back to RMB30.43 a share and a market cap of RMB36.8 billion ($6.02 billion).