Core Insights - The 2025 Hurun China Brand List was released, marking the 20th edition of the list, which now includes non-Chinese brands that serve Chinese consumers for the first time [1][6] - Apple tops the list with a brand value of 1.11 trillion RMB, followed by Kweichow Moutai at 795 billion RMB, and WeChat at 325 billion RMB, which saw the highest growth among Chinese brands [4][5] Brand Rankings - The top five brands are: 1. Apple - 1,110 billion RMB (USA, Consumer Electronics) [4] 2. Kweichow Moutai - 795 billion RMB (China) [4] 3. WeChat - 325 billion RMB (China, +38%) [4] 4. Douyin - 280 billion RMB (China, +14%) [4] 5. Tesla - 270 billion RMB (USA, New Entry) [4] Industry Insights - The consumer electronics sector has surpassed the liquor industry to become the highest-valued industry on the list, while liquor remains the highest-valued industry for domestic brands [5] - A total of 386 brands from China made the list, leading the rankings, followed by 46 from the USA and 19 from France [5] Regional Highlights - Hunan province has six brands on the list, including Furong Wang at 18th, Aier Eye Hospital at 131st, and Mango TV at 214th [5] - Shanghai is the city with the most brands on the list, contributing 136 brands, followed by Beijing with 104 [5] New Entries - 212 new brands were added to the list, primarily from the food and beverage and daily chemical industries, with notable entries like Red Bull and Coca-Cola [5][6] - The automotive sector also saw significant new entries, including Tesla and Toyota [5] Brand Value Growth - The total brand value of the listed brands reached nearly 8.8 trillion RMB, an increase of 47% from the previous year [6] - The thresholds for the top 300, 200, and 100 brands have increased, indicating a rise in brand value requirements [6]

近日，由"海外数据调查机构Civixplorer"发布的《全球最赚钱媒体特许经营权排行榜》在社媒中广泛传播。榜单统计了全球最赚钱的26个IP，数据涵盖这 些IP截至2025年12月止，在游戏、电影、电视、玩具、卡牌、书籍及商品等方面的一切收入。 榜单显示，"精灵宝可梦"以总收入2880亿美元成为全球最赚钱IP，远超第2名"Hello Kitty"近2000亿美元。"维尼熊""米老鼠""星球大战""马力欧""面包超 人""迪士尼公主系列""漫威"以及"JUMP漫画"进入前十。 而中国IP竟然无一上榜，"哪吒""原神""LABUBU"这些近年被大肆宣传、作为中国文化出海典型的大爆款，在顶级全球IP面前被"秒得渣都不剩"。 事实真的是这样吗？或许吧。 但首先，Civixplorer不是数据调查机构，而是一家无官方认证、主要发布数据可视化图片的自媒体（为方便阅读，下文英文网站页面截图，均已自动翻译 为中文）。 首页 关于 博客 Q ■ 商店 哪吒、LABUBU没上榜？因为2025全球最赚钱IP排行榜是假的？ Civixplorer是什么分析公司吗 Civixplorer并非正规分析公司,甚至不具备合法注册的机构主体资 ...

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 70.97%, Green Power Environmental (01330) at 68.68%, and Haotian International Construction Investment (01341) at 66.96% [1] - Tencent Holdings (00700), Pop Mart (09992), and Yangtze Optical Fibre and Cable (06869) saw the largest increases in holding amounts over the last five trading days, with increases of +2.954 billion, +1.333 billion, and +1.183 billion respectively [1] - Conversely, China Mobile (00941), Zijin Mining (02899), and Alibaba-W (09988) experienced the largest decreases in holding amounts, with reductions of -2.026 billion, -1.856 billion, and -1.609 billion respectively [2] Group 1: Top Holding Ratios - China Telecom (00728) has a holding of 9.851 billion shares, representing 70.97% [1] - Green Power Environmental (01330) has a holding of 0.278 billion shares, representing 68.68% [1] - Haotian International Construction Investment (01341) has a holding of 7.430 billion shares, representing 66.96% [1] Group 2: Recent Increases in Holdings - Tencent Holdings (00700) increased by +2.954 billion, with a change of +4.9354 million shares [1] - Pop Mart (09992) increased by +1.333 billion, with a change of +5.8896 million shares [1] - Yangtze Optical Fibre and Cable (06869) increased by +1.183 billion, with a change of +13.9887 million shares [1] Group 3: Recent Decreases in Holdings - China Mobile (00941) decreased by -2.026 billion, with a change of -2.5982 million shares [2] - Zijin Mining (02899) decreased by -1.856 billion, with a change of -4.69103 million shares [2] - Alibaba-W (09988) decreased by -1.609 billion, with a change of -0.98507 million shares [2]

【环球时报综合报道】今年的台北灯节将于2月25日开幕，台北市市长蒋万安近日表示，西门展区将与 大陆潮玩品牌泡泡玛特合作。绿营叫嚣这是帮大陆品牌办"超级展售会"，岛内直批绿营"双标离谱至 极"。 2026台北灯节以"双展区、双IP"为策展亮点，台北市政府日前先公布花博展区为"变形金刚"主题，之后 蒋万安揭晓西门展区主题为国际知名IP泡泡玛特，打造全新潮流灯区。然而，就因泡泡玛特来自大陆， 引来一些绿营人士的攻击。"台湾基进党"台北党部主委吴欣岱在脸书上发文称，蒋万安选择把西门町的 主场优势拱手让给大陆品牌，"这是拿台湾人的纳税钱，帮大陆品牌办超级展售会"，"他们通过可爱的 公仔，包装中国（大陆）的流行文化与意识形态，试图软化台湾年轻一代对中国（大陆）的戒心"。针 对网上流传着吴欣岱本人过去曾与泡泡玛特玩偶合影的质疑，她称，当初仅觉得该娃娃造型奇特而进行 分享，但一发现其为大陆品牌后，便立即将照片撤下。 国民党台北市议员柳采葳表示，泡泡玛特是很多国际巨星喜欢的潮牌，台北灯节主灯之一是泡泡玛特， 可以说是让全球巨星最爱的IP营销台北。国民党议员游淑慧说，文化交流本来就是生活的一部分，"只 有心虚、玻璃心的人才会把平 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,954.92, up by 179.35 points or 0.67% as of February 2, 16:00 Eastern Time [1] - The index reached a high of 27,021.10 and a low of 26,800.30 during the trading session, with a trading volume of 40.725 million shares [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 139.961, increasing by 3.91% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 595.694, down by 0.47% compared to the Hong Kong close [2] Stock Price Movements - Tencent Holdings: Latest price HKD 598.500, down by HKD 7.500 or 1.24% [3] - Alibaba Group: Latest price HKD 163.300, down by HKD 5.900 or 3.49% [3] - HSBC Holdings: Latest price HKD 134.700, down by HKD 1.900 or 1.39% [3] - AIA Group: Latest price HKD 89.050, down by HKD 1.300 or 1.44% [3] - Meituan: Latest price HKD 94.850, down by HKD 2.350 or 2.42% [3] - BYD Company: Latest price HKD 91.000, down by HKD 6.750 or 6.91% [3] - Kuaishou Technology: Latest price HKD 77.000, down by HKD 3.150 or 3.93% [3]

Core Viewpoint - The event "MOLLY's Shining Journey - Tracking the Starlight Trail" showcased a 7-meter tall "MOLLY" statue in Hong Kong, celebrating the Lunar New Year with a focus on the Year of the Horse [2]. Group 1 - The event took place on February 2, featuring a prominent "MOLLY" statue designed as a jockey, along with 20 other different "MOLLY" designs [2]. - The 7-meter tall jockey statue is located at the platform garden of China Hong Kong City, providing a scenic view of Victoria Harbour [2][4]. - The display aims to enhance the festive atmosphere in Hong Kong for the Lunar New Year [2]. Group 2 - Visitors were seen exploring and taking photos among the various "MOLLY" statues, indicating strong public interest and engagement with the installation [6][12]. - The event attracted both tourists and local citizens, showcasing the appeal of the "MOLLY" brand in a public space [8][13].

Core Viewpoint - Pop Mart (9992.HK) has announced the establishment of its European headquarters in London, aiming to expand its presence in Europe and enhance its brand's global market reach [1] Group 1: Company Expansion - Pop Mart's stock rose nearly 5% to HKD 234.2 amid the announcement of its European headquarters [1] - The company plans to open 7 new stores in the UK, including flagship locations in Birmingham, Cardiff, and London’s Oxford Street [1] - A total of 20 new stores are planned for expansion across Europe, which is expected to create over 150 jobs in the UK [1] Group 2: Strategic Importance - The founder of Pop Mart, Wang Ning, emphasized that London is a key global creative hub, making it an ideal location for the brand to establish its European base [1] - The establishment of the European headquarters will allow Pop Mart to integrate global creative resources and collaborate with outstanding artists in Europe [1] - The initiative aims to continuously explore the creative value of intellectual property (IP) and promote cultural exchange between China and foreign markets [1]

Core Viewpoint - Pop Mart (9992.HK) experienced a nearly 5% increase in stock price, reaching 234.2 HKD, with a trading volume exceeding 15 billion HKD on February 2 [1][5]. Financial Performance - The stock opened at 223.8 HKD and had a closing price of 223.6 HKD the previous day, with a trading volume of 6.7633 million shares [2][6]. - The highest price during the trading session was 234.2 HKD, while the lowest was 223.2 HKD, resulting in a price fluctuation of 4.92% [2][6]. - The average price recorded was 230.9 HKD, with a total market capitalization of 308.287 billion HKD [2][6]. Strategic Developments - At the recent UK-China Business Forum, Pop Mart's founder Wang Ning announced the establishment of London as its European headquarters [2][3]. - The company plans to open seven new stores in the UK, including flagship locations in Birmingham, Cardiff, and Oxford Street, and aims to expand to 20 stores across Europe, creating over 150 jobs in the UK [2][3][6]. Creative Integration - Wang Ning emphasized that London serves as a core of the global creative ecosystem, making it a strategic choice for the brand to deepen its presence in Europe and globally [3][7]. - The establishment of the European headquarters will enable Pop Mart to integrate global creative resources and collaborate with outstanding artists in Europe, enhancing the value of its IP and promoting cultural exchange [3][7].

Investment Rating - Pop Mart is rated as a Top Buy in China's consumer sector, with a target price of HK$415.00, representing an expected return of 92.0% from the current price of HK$216.20 [8][10]. Core Insights - The report highlights that Pop Mart's user base is growing globally, with 76% of survey participants making their first purchase within one year, and 45% within three months [2][12]. - A significant 87% of respondents expressed a likelihood to purchase Pop Mart products in the next three months, driven by new product series, limited editions, and seasonal releases [3][30]. - Brand perception is strong, with 54% of respondents very satisfied and 39% somewhat satisfied, indicating a positive emotional connection with the brand [4][46]. Summary by Sections Consumer Behavior - 76% of respondents had their first Pop Mart purchase within one year, with 45% within three months [2][12]. - 34% shop for Pop Mart products every month, and 29% every three months, indicating high purchase frequency [12][14]. - 90% of respondents own at least two Pop Mart items, with the US having the highest per capita ownership [18][25]. Purchase Drivers - 87% of respondents are likely to buy Pop Mart products in the next three months, with new series and limited editions being key drivers [3][30]. - 93% plan to buy Pop Mart products in the future, with 48% maintaining current purchase frequency and 26% planning to buy more often [36][39]. - Wider product range, better quality, and lower prices are cited as factors that could increase purchase frequency [40]. Brand Perception - 54% of respondents are very satisfied with Pop Mart, with the highest satisfaction in the US at 70% [46][48]. - Gift-giving and collection/hobby are the top reasons for purchasing, with emotional satisfaction also playing a significant role [48][50]. - Character design, rarity/exclusivity, and emotional connection are highly valued attributes of Pop Mart products [51]. Financial Performance - The projected net profit for 2026 is Rmb 18,357 million, with a diluted EPS of Rmb 13.763, reflecting a growth of 35.5% [7][10]. - The company is expected to maintain a strong gross margin of around 72% in 2026 [10]. Market Dynamics - The survey indicates that Pop Mart's user base continues to grow despite concerns about secondary market prices, with only 9% of respondents purchasing from secondhand platforms [2][27]. - The brand's strong presence in physical stores, especially in China, contrasts with higher online purchase ratios in the US and UK [27][29].

Group 1 - The stock of Pop Mart (09992.HK) increased by nearly 3%, with a current rise of 2.86%, trading at 230 HKD [1] - The trading volume reached 428 million HKD [1]