AceShowbiz - The Chinese racing film Pegasus 3 is rapidly ascending the global box office charts, emerging as the leading movie release of 2026 so far. Directed and written by Han Han, the live-action sequel stars Teng Shen as the racing champion Zhang Chi, continuing the story from the 2019 original and its 2024 follow-up.

According to Deadline, Pegasus 3 is on track to generate an estimated $400 million in China within its first six days of release, coinciding with the territory’s New Year holiday period. This impressive debut makes it the first film of 2026 to surpass the $400 million mark globally, easily outpacing the previous top movie of the year, Wuthering Heights directed by Emerald Fennell, which has earned $125.8 million worldwide so far.

What’s more notable is that Pegasus 3 is nearing the total earnings of its predecessor, Pegasus 2, in less than a week. The 2024 sequel ended its global run with $423.2 million, ranking as the 16th highest-grossing film worldwide that year. Despite this strong performance, it fell short of other major 2024 releases like Tim Burton’s Beetlejuice Beetlejuice ($452 million), the first part of Wicked ($757.9 million), and Pixar’s Inside Out 2 ($1.699 billion).

This continued success marks the second consecutive year that China’s New Year holiday generates record-breaking box office revenue. In 2025, the animated blockbuster Ne Zha 2 opened with $430.3 million during the same festive frame and went on to become the first film to gross over $1 billion in a single territory. Its final worldwide total of $2.26 billion made it the highest-grossing animated movie ever and the fifth highest-grossing film globally.

Industry observers are now watching to see if Pegasus 3 can replicate the trajectory of Ne Zha 2. Early projections suggest it could reach $2.1 billion globally if it sustains its momentum through the remainder of its run. Even a significant slowdown would still likely secure its place as only the second film to earn more than $1 billion in a single market.

Though several English-language films scheduled for later in 2026, such as Toy Story 5, the live-action Moana remake, and Minions & Monsters, have the potential to be billion-dollar hits, none are set to release until after April, when The Super Mario Galaxy Movie arrives. This timing positions Pegasus 3 as the early frontrunner for the year’s top box office earner worldwide.

With its strong start during the lucrative Chinese New Year period, Pegasus 3 highlights the growing global influence of China’s film industry and its capacity to challenge Hollywood’s dominance in the international market.