Zheng Quan Shi Bao Wang·2025-02-15 01:14Core Viewpoint - The report from Huatai Securities highlights that the success of merchandise related to "Nezha 2" is driven by both the commercial monetization of quality content and the rising trend of emotional consumption and the emergence of domestic IPs [1] Group 1: Market Trends - The demand for emotional value and product innovation on the supply side are driving the high prosperity of the market [1] - The toy and cultural economy is expected to maintain high prosperity through 2025, supported by the upgrading of domestic product quality and the rise of brand power [1] Group 2: Investment Recommendations - The report recommends investing in industry leaders while also suggesting to pay attention to leading companies in the Jimu Ren sector that possess strong product barriers and scale effect advantages [1] - There is significant potential for expansion into overseas markets [1]