Source: http://v.yinyuetai.com/video/3152058
Yuexin Wang & Wei Yi Wang - Cǎihóng mófǎ
Promotional song for Mandarin dub of《My Little Pony: The Movie》

Performed by: Yuexin Wang & Wei Yi Wang
Music by: Jialin Zhao
Lyrics by: Shu Cui

Lyrics in the comments or in the link below
http://www.fk57.com/yulenew/dymusic/201801/00004876.html