According to Maoyan Pro, a leading industry tracker, the movie is projected to exceed 16 billion yuan in total box office earnings.

Lai Li, an analyst with Maoyan Pro, said that it is a historic moment to witness Ne Zha 2 becoming China's first film to gross over 10 billion yuan in the global market.

Ne Zha 2 was released in Australia, New Zealand, Fiji and Papua New Guinea on Thursday, one day ahead of its release in the US and Canada.

Rao Shuguang, president of the China Film Critics Association, attributed the box office achievement of the film to its incorporation of Chinese mythology with modern expressions.

He also pointed out the success proves the global appeal of Chinese stories, but the industry still needs more diversified themes and mechanism to cultivate talents.

Lynn Wu, a 43-year-old Chinese mother of two residing in Brisbane, told China Daily that Ne Zha 2 has ignited widespread enthusiasm within the Chinese community.

"We are incredibly proud that China has produced such a visually stunning and captivating animated film. Almost everyone on my WeChat moments is discussing plans to visit theaters and watch this movie," she added.