Producers only get 20-25% from China's grosses. Domestic grosses are still important, because that's the place where producers get a higher piece of money ( usually 50-60% ). Usually, producers only keep about 1/3 from overseas grosses.
So, Warcraft budget is 160 million + money spent on marketing/promotion/advertising.
There are domestic predictions showing Warcraft might have a final domestic gross of less than 50 million.
So, let's imagine that Warcraft makes 50 million domestic, 300 million in China and 200 million ( from other countries ).
50% of 50 million would be 25 million. The rest goes o theaters and distributors.
25% of 300 million ( China ) would be 75 million.
1/3 of 200 million ( around the world minus China ) would be more or less 66 million, give or take it.
So, producers will get 25 + 75 + 66 = 166 million. That would mean disaster and no sequels, given the huge budget.
Why do producers keep making such expensive movies, it's beyond me. As bad as Resident Evil movies were, they were always cheap ( the last one will have a budget of 90 million ) and they kept making a nice profit, which is why we'll see a 6th movie.