SFC(SH:601595) 3 6 Ke·2025-08-13 08:04Core Insights - The animated film "Wang Wang Mountain Little Monsters" has become a surprise hit, surpassing 676 million yuan in box office revenue within just 11 days of its release, making it the highest-grossing domestic 2D animated film in China [2] - The film is based on the popular short series "Chinese Tales" and has resonated with contemporary young workers, leading to a surge in merchandise sales [2][4] - The film's IP has engaged over 30 companies for collaborative merchandise, resulting in more than 400 licensed products launched simultaneously with the film [4] Box Office Performance - "Wang Wang Mountain Little Monsters" achieved a box office of 676 million yuan by August 13, 2023, surpassing "Big Fish & Begonia" which had a total of 573 million yuan [2] - The film's rapid success indicates a strong market demand for quality animated content in China [2] Merchandise and IP Development - The film's merchandise, including plush toys and blind boxes, has seen significant sales, with over 700 million yuan in sales on the first day and 300 million blind boxes sold [4][7] - The merchandise strategy has been proactive, with products available for sale even before the film's official release, creating anticipation among consumers [8] - The collaboration with various brands has resulted in a diverse range of products, enhancing the film's market presence [4][8] Market Trends and Comparisons - The success of "Wang Wang Mountain Little Monsters" is compared to the previous hit "Nezha: Birth of the Demon Child," which also saw a massive surge in merchandise sales following its release [8] - The film's approach to IP development marks a shift towards a more integrated ecosystem, moving beyond reliance on box office revenue alone [9] - The Chinese animation industry is encouraged to adopt long-term strategies for IP management, similar to successful models from Disney and other international brands [9]