Poster of film "Personal Tailor" [Photo/China.org.cn]

Feng Xiaogang's blockbuster comedy "Personal Tailor" made monstrous 84 million yuan (US$13.83 million) at Chinese box offices on its opening day?of December 19, 2013?despite its bad reviews and studio stock slumps.

The opening day's gross revenue is estimated to be around 80 million yuan (US$13.17 million), including 12 million (US$1.97 million) from midnight showings, China.org.cn has learned. With these numbers, the movie has set the highest midnight grossing record as well as the highest-ever opening record for a 2D Chinese film.

"Personal Tailor" only loses to Stephen Chow's 3D "Journey to the West: Conquering the Demons," which made 85.4 million yuan (US$14 million), but falls into the category of general format recordings, earlier this year.

The huge opening will at least secure 300 million yuan (US$49.4 million) in box office revenue for its opening week as cinemas are madly adding showings day-by-day, observers predicted. The film's studio is expecting "Personal Tailor" to eventually end up making 1 billion yuan (US$164.7 million).

In movie theaters nationwide, people have lined up to buy tickets, most likely undoing China's recent box office depression as well as the criticism that has been haunting the film for a while now. Yet the sweeping bad reviews ensued as Beijing Daily blasted the film by saying it's out to "to make quick buck" and the movie "doesn't respect audiences". Another comment read, "it's more like a rough combination of several TV comedy skits, rather than anything that looks like a film." One movie critic referring to himself as "Magasa" wrote on his blog, "I watched it full of anger, how can he make such a film without being ashamed."

Director Feng Xiaogang has responded to the bad reviews later, saying, "No matter if you rate it good or bad, you have shown concern for my film. Thank you anyway. A film is a commodity; as I dare sell it, I dare to let it be rated. I respect all comments and respect audiences' feelings."

Feng is also directing China's annual TV event – the Spring Festival Gala for China Central Television - which will be broadcast live to the world on January 30, 2014, the Chinese lunar New Year's Eve.

It's apparent the investors didn't think too highly of the movie either. The bad reviews and general disappointment may still cause Huayi Brothers Media Corporation to lose big on the stock market and witness the company's huge stock slump for a second consecutive day.

At the stock market yesterday, Huayi's stock was down by 5.78 percent. In the two days since the film's debut, the value of the stock dropped by 15.2 percent in total, losing a stunning 6.3 billion yuan (US$1.03 billion). However, the film's producer Hu Xiaofeng told reporters that there are many factors influencing the stocks and it doesn't matter how people interpret it.