Core Viewpoint - Quantum Song (QSG.US) reported a significant revenue growth and strategic transformation, focusing on the collectible toy business as a key growth area for the future [1] Financial Performance - For the fiscal year 2025, Quantum Song achieved a total revenue of 2.726 billion RMB and a net profit of 357 million RMB [1] - In the fourth quarter, the newly disclosed collectible toy business generated revenue of 65.78 million RMB, accounting for approximately 10.6% of total revenue [1] Strategic Focus - The fourth quarter marks a critical milestone in the company's strategic transformation, with the collectible toy business showing strong growth potential [1] - The company plans to fully concentrate on the collectible toy sector, expanding its IP matrix, deepening self-operated channels, and pursuing international expansion to enhance brand strength and user engagement [1]

Core Viewpoint - Quantum Song (QSG.US) reported a significant increase in stock price by 10%, reaching $9.70, following the announcement of its financial results for fiscal year 2025, which showed a revenue of 2.726 billion RMB and a net profit of 357 million RMB [1] Financial Performance - For fiscal year 2025, Quantum Song achieved total revenue of 2.726 billion RMB and a net profit of 357 million RMB [1] - In the fourth fiscal quarter, the newly disclosed潮玩 (trendy toy) business generated revenue of 65.78 million RMB, accounting for approximately 10.6% of total revenue [1] Strategic Focus - The fourth quarter marks a critical milestone in the company's strategic transformation, with the潮玩 business demonstrating strong growth potential upon its first disclosure [1] - The company is accelerating its self-operated model and entering a product-driven development phase [1] - Future plans include a comprehensive focus on the潮玩 sector, expanding the IP matrix, deepening self-operated channels, and pursuing international expansion to enhance brand strength and user engagement, ultimately creating long-term value for shareholders [1]

Core Insights - The business of trendy toys is experiencing rapid growth, with Quantum Song (NASDAQ: QSG) reporting significant revenue and profit figures for the fiscal year ending June 30, 2025 [2][3] - The company has successfully integrated its trendy toy business, Letsvan, and rebranded it as "Qimeng Island," focusing on high-growth sectors and resource concentration [2][3] Financial Performance - For the fiscal year 2025, the company achieved total revenue of RMB 2.726 billion and a net profit of RMB 357 million, with Q4 revenue at RMB 618 million and net profit at RMB 108 million [2] - The trendy toy segment generated revenue of RMB 65.78 million, accounting for approximately 10.6% of total revenue [2][8] Market Trends - The trendy toy market is dominated by Chinese original IPs, with a significant increase in sales rankings for new designer IPs in 2025 [3] - The WAKUKU blind box product has shown remarkable market performance, with a 330.2% increase in order volume and a 309.7% increase in transaction value on the Xianyu platform in Q2 2025 [3] Strategic Developments - The company is focusing on expanding its trendy toy business through an IP matrix, self-operated channels, and international expansion [3][7] - Letsvan has established a diverse IP matrix with 11 proprietary IPs and 4 licensed IPs, operating over 40 blind box product lines [7] Partnerships and Collaborations - WAKUKU has gained visibility through collaborations with popular channels and has been featured in various media, enhancing its market presence [5][6] - The company has formed strategic partnerships with major brands and events, including the China Tennis Open, to broaden its IP value [7] Future Projections - The company anticipates Q1 2026 revenue from the trendy toy business to be between RMB 100 million and RMB 110 million, with an overall revenue forecast of RMB 750 million to RMB 800 million for the fiscal year 2026 [10]

| 代码 | 名称 | 最新价 | 涨跌幅 へ | 涨跌额 | 成交额 | | --- | --- | --- | --- | --- | --- | | CHOW | ChowChow Cloud Inte | 5.380 | -36.71% | -3.120 | 517.81万 | | TIRX | 天喜祥 | 2.120 | -14.17% | -0.350 | 29.59万 | | QSG | 量子之歌 | 8.815 | -11.32% | -1.125 | 1197.7万 | | STAK | 斯塔克工业 | 0.8200 | -10.69% | -0.0981 | 89.16万 | | WNW | 美物科技 | 1.870 | -10.53% | -0.220 | 16.05万 | 中概股收盘跌幅前五的个股为：ChowChow Cloud inte跌36.71%，天睿祥跌14.17%，量子之歌跌 11.32%，斯塔克工业跌10.69%，美物科技跌10.53%。(格隆汇) ...

量子之歌集团董事长李鹏表示，"第四季度标志着公司战略转型的关键落地，潮玩业务首次披露即展现 强劲成长性，自营模式加速推进，公司进入产品驱动发展阶段。未来我们将全面聚焦潮玩赛道，通过IP 矩阵扩容、自营渠道深化与国际化拓展，持续构建品牌力和用户触达能力，为股东创造长期价值。" 据悉，量子之歌通过三大策略持续增强IP储备与市场渗透：一是加大原创投入，于北京、杭州、深圳设 立设计中心，有效加速IP产品迭代与创意转化；二是推进IP授权合作，拓展不同风格、品类与区域的独 家授权机会，并与艺术家共创首发产品；三是深化跨界合作，公司已与体育、娱乐和消费品牌展开深度 联动：WAKUKU成为2025中国网球公开赛首个且唯一官方合作潮玩，Letsvan奇梦岛同步成为赛事市场 核心合作伙伴，实现行业内潮玩与国际顶级体育赛事的首次深度融合；此外，公司与环球影城、元气森 林、北京时装周以及热门剧集《赴山海》建立合作，进一步拓宽IP价值边界。 9月17日，量子之歌（NASDAQ:QSG）公布截至2025年6月30日的2025财年第四季度及全年财报。随着 公司全面聚焦潮玩业务，战略转型进入关键落地期，潮玩业务首次披露即展现成长性，标志着向 ...

Core Viewpoint - The潮玩 (trendy toy) sector is experiencing significant growth globally, becoming a notable force in the consumer market, as evidenced by the market capitalization of leading companies like Bubble Mart surpassing HKD 400 billion, highlighting the lucrative potential of the industry [1][3]. Group 1: Industry Trends - The潮玩 market in China is projected to grow from RMB 22.9 billion in 2020 to RMB 76.3 billion by 2024, with a compound annual growth rate (CAGR) of 35.11%, while the global潮玩 industry is expected to increase from USD 20.3 billion to USD 41.8 billion during the same period, with a CAGR of nearly 20% [3]. - The shift in consumer motivation from functional satisfaction to emotional value acquisition is driving the demand for潮玩 products, particularly among younger consumers who prefer products that resonate emotionally and allow for personalized expression [3][4]. Group 2: Company Strategy - Quantum Song has fully acquired the潮玩 brand Letsvan and rebranded it as "奇梦岛," marking a strategic pivot towards the潮玩 sector, while also initiating the divestment of non潮玩 businesses to concentrate resources on this high-growth area [5][8]. - The company aims to transition from a "traffic-driven" to a "product-driven" model, focusing on潮玩 to unlock greater growth potential and shareholder value [8]. Group 3: Financial Performance - For the fourth quarter of the 2025 fiscal year, Quantum Song reported total revenue of RMB 618 million and a net profit of RMB 108 million, with潮玩 business contributing RMB 65.78 million, accounting for 10.6% of total revenue [2][8]. - The company anticipates潮玩 business revenue to reach between RMB 750 million and RMB 800 million for the entire 2026 fiscal year, indicating a projected quarter-on-quarter growth rate exceeding 50% [10]. Group 4: IP Development and Market Expansion - Quantum Song has developed a diverse IP matrix, operating 11 proprietary IPs and 4 licensed IPs, covering over 40 blind box product lines and 30 plush products, which enhances its market competitiveness [11][12]. - The company is expanding its IP portfolio through increased original investment, IP licensing partnerships, and cross-industry collaborations, such as partnerships with major events and brands to enhance brand visibility and emotional connection with consumers [12][14]. Group 5: Channel Strategy - Quantum Song employs a comprehensive channel strategy that includes online self-operated platforms, offline distribution, and international expansion, significantly increasing market coverage and consumer reach [14][16]. - The online self-operated channel has seen rapid growth, with GMV surpassing RMB 18 million by August 2025, reflecting the effectiveness of the self-operated model [14]. Group 6: Supply Chain Management - The company has optimized its supply chain management to enhance production capacity and responsiveness, achieving a monthly output of over 1 million plush products by August 2025, which is a more than 20-fold increase since the beginning of the year [17][19]. - This supply chain enhancement supports current operations and future business expansion, ensuring timely product availability and reducing potential sales losses due to stockouts [19]. Group 7: Conclusion - Quantum Song's commitment to潮玩 represents a strategic alignment with the emotional value consumption trend, leveraging IP, multi-channel strategies, and supply chain capabilities to drive sustainable growth [20]. - With a robust cash reserve of RMB 1 billion and clear performance guidance, the company is well-positioned for future growth and value re-evaluation as it expands its IP ecosystem and global presence [20].

中国经济网北京9月18日讯（记者 鞠然）17日，量子之歌（NASDAQ:QSG）公布截至2025年6月30日的 2025财年第四季度及全年财报。随着公司全面聚焦潮玩业务，战略转型进入关键落地期，潮玩业务首次 披露即展现成长性，标志着向潮玩赛道全面聚焦的路径已清晰显现。 财报显示，2025财年公司全年实现营收人民币27.26亿元，净利润3.57亿元；第四季度营收6.18亿元，净 利润1.08亿元。值得关注的是，本季度首次纳入披露的潮玩业务实现营收6,578万元，占总营收约 10.6%。公司现金储备达10.41亿元，为潮玩业务的IP开发、渠道拓展及国际化布局提供充足资金保障。 截至公告发布之日，公司达成全资控股深圳熠起文化有限公司（"Letsvan"）的相关安排，并完成品牌 升级，中文品牌名焕新为"奇梦岛"。与此同时，公司已启动对原有非潮玩业务的重组，以集中资源深耕 高成长赛道，战略聚焦进一步明晰。 量子之歌集团董事长李鹏表示，"第四季度标志着公司战略转型的关键落地，潮玩业务首次披露即展现 强劲成长性，自营模式加速推进，公司进入产品驱动发展阶段。未来我们将全面聚焦潮玩赛道，通过IP 矩阵扩容、自营渠道深化与国际化 ...

财报显示，截至本公告发布之日，量子之歌达成全资控股深圳熠起文化有限公司（"Letsvan"）的 相关安排，并完成品牌升级，中文品牌名焕新为"奇梦岛"。 与此同时，公司已启动对原有非潮玩业务 的重组，以集中资源深耕高成长赛道，战略聚焦进一步明晰。（智通财经记者 吴雨欣） （责任编辑：关婧） 9月17日，量子之歌（Nasdaq：:QSG）公布截至2025年6月30日的2025财年财报。财报显示，2025 财年量子之歌全年实现营收人民币27.26亿元，同比下降28.18%；净利润3.57亿元，同比下降7.5%。 值得关注的是，量子之歌第四财季首次纳入披露的潮玩业务实现营收6578万元，占总营收约 10.6%。量子之歌表示，公司现金储备达10.41亿元，为潮玩业务的IP开发、渠道拓展及国际化布局提供 充足资金保障。 ...

Core Viewpoint - The company Quantum Song has reported its financial results for the fourth quarter and the full year of fiscal year 2025, indicating a strategic shift towards the trendy toy business, which has shown growth potential and marks a clear focus on this sector [2][9]. Financial Performance - For the fiscal year 2025, the company achieved total revenue of 2.726 billion yuan and a net profit of 357 million yuan; in the fourth quarter, revenue was 618 million yuan with a net profit of 108 million yuan [9]. - The newly disclosed trendy toy business generated revenue of 65.78 million yuan in the fourth quarter, accounting for approximately 10.6% of total revenue [9]. - The company has cash reserves of 1.041 billion yuan, providing sufficient funding for IP development, channel expansion, and international layout [9]. Strategic Developments - The company has fully acquired Shenzhen Yiqi Culture Co., Ltd. (Letsvan) and completed a brand upgrade, renaming it "Qimeng Island" [9]. - A restructuring of non-trendy toy businesses has been initiated to concentrate resources on high-growth sectors, further clarifying the strategic focus [9]. Product and IP Development - The company has established a diverse IP matrix consisting of 11 proprietary IPs and 4 licensed IPs, operating over 40 blind box product lines and 30 plush card products [10]. - The star IP WAKUKU generated 42.96 million yuan in revenue within three months of the fourth quarter, with over 1 million units sold since its launch in May [10]. - The new IP SIINONO has sold over 300,000 units since its launch in July, while the evergreen IP Youli has continued to grow through high-end brand collaborations, generating 17.51 million yuan in the fourth quarter [10]. Market Strategies - The company is enhancing its IP reserves and market penetration through three main strategies: increasing original investment by establishing design centers in Beijing, Hangzhou, and Shenzhen; advancing IP licensing cooperation; and deepening cross-industry collaborations with brands in sports, entertainment, and consumer sectors [12]. - The company has seen a rapid increase in GMV since launching its online self-operated model, surpassing 18 million yuan in August, which is over nine times the amount in April [12]. - Content marketing efforts have resulted in over 690 million total exposures on major platforms like Douyin and Xiaohongshu, with a follower count exceeding 250,000 [12]. Channel Expansion and Internationalization - The company has partnered with distributors to cover over 10,000 retail terminals and is negotiating to open at least three self-operated stores in major cities by the end of December [14]. - Internationally, the company has entered North American and Southeast Asian markets through platforms like TikTok and Shopee, and has conducted pop-up tests in Jakarta, expanding its distribution network to over 20 countries [14]. Future Projections - The company anticipates revenue from the trendy toy business to reach between 100 million to 110 million yuan in the first quarter of fiscal year 2026, with total revenue projected to be between 750 million to 800 million yuan for the fiscal year 2026 [14].

Core Viewpoint - Quantum Song (NASDAQ: QSG) is undergoing a strategic transformation focusing on the trendy toy business, which has shown growth potential in its first disclosure, marking a clear path towards this focus [2][3] Financial Performance - For the fiscal year 2025, the company achieved a total revenue of 2.726 billion yuan and a net profit of 357 million yuan; in Q4, revenue was 618 million yuan with a net profit of 108 million yuan [2] - The newly disclosed trendy toy business generated revenue of 65.78 million yuan in Q4, accounting for approximately 10.6% of total revenue [2] Strategic Focus - The company has fully acquired Shenzhen Yiqi Culture Co., Ltd. ("Letsvan") and rebranded it as "Qimeng Island," while restructuring its non-trendy toy business to concentrate resources on high-growth areas [2] - The chairman emphasized that the fourth quarter marks a critical phase in the company's strategic transformation, with a focus on product-driven development and brand strength [3] IP Development and Product Strategy - The company has established a diverse IP matrix consisting of 11 proprietary IPs and 4 licensed IPs, operating over 40 blind box product lines and 30 plush card products [3] - The star IP WAKUKU generated revenue of 42.96 million yuan in Q4, with its plush product achieving over 1 million units sold since its launch [3] - The new IP SIINONO showed explosive performance, selling 10,000 units in just 10 minutes on Douyin, with total sales exceeding 300,000 units [3] Market Penetration and Partnerships - The company is enhancing its IP reserve and market penetration through three strategies: increasing original investment, advancing IP licensing cooperation, and deepening cross-industry collaborations [4] - Notable partnerships include WAKUKU becoming the official trendy toy for the 2025 China Tennis Open and collaborations with Universal Studios and popular series [4] Channel Expansion and Internationalization - Since launching its online self-operated model in April 2025, the company's GMV surged to over 18 million yuan by August, a ninefold increase [6] - The company is expanding its offline presence through distributor partnerships, with over 10,000 terminal networks and plans to open at least three self-operated stores by the end of December [6] - Internationally, the company has entered North America and Southeast Asia through platforms like TikTok and Shopee, with a distribution network expanding to over 20 countries [6] Future Growth Projections - The company projects Q1 2026 revenue from the trendy toy business to be between 100 million and 110 million yuan, with total revenue for fiscal year 2026 expected to be between 750 million and 800 million yuan [7] - The focus will remain on trendy toys, product-driven growth, and international expansion, aiming to become a global symbol of trendy culture [7]