As you may have guessed from the video - although there is no reason why you should - the film concerns a little girl (basically Pippi Longstocking) who is abandoned by her grandmother, her only guardian. As soon as Grandma leaves, a baby panda turns up along with his father. Pippi adopts the baby panda as her son, and the father Papa Panda adopts her as his daughter. It's like an animated biopic of Woody Allen, but with pandas.
The film is very funny, and has produced one of my favourite panda related gifs.