Core Viewpoint - JinTian Animation, a pioneer in China's IP fun food industry, is set to go public in Hong Kong after delisting from the New Third Board, showcasing strong growth and a diverse product portfolio [1][2]. Group 1: Company Overview - JinTian Animation has established five production bases across China and holds 26 authorized IPs with over 600 active SKUs, including categories like candy, biscuits, puffed snacks, chocolate, and seaweed snacks [1]. - The company is recognized as the largest IP fun food enterprise in China by revenue, with a market share of 7.6%, and the fourth largest in the IP food sector, holding a 2.5% market share as of 2024 [1]. Group 2: Financial Performance - The company's revenue has shown significant growth, with figures of CNY 596 million in 2022, CNY 664 million in 2023, and projected CNY 877 million in 2024. In the first half of 2025, revenue reached CNY 444 million [2]. - JinTian Animation's gross margin and net margin have been on the rise, with a gross margin of 34.7% and a net margin of 15.8% reported in the first half of 2025 [2]. Group 3: IP Contribution - The Ultraman IP has been a major revenue driver, contributing approximately CNY 1.46 billion from 2022 to the first half of 2025, accounting for over 56% of total revenue during this period [2]. - The company has seen a shift in revenue contribution from various IPs, with the share from Ultraman decreasing while that from My Little Pony and Crayon Shin-chan has increased, indicating a strategic diversification of IP product offerings [2][3]. Group 4: Market Trends - The Chinese IP fun food market is experiencing robust growth, with the market size projected to increase from CNY 5.6 billion in 2020 to CNY 11.5 billion in 2024, reflecting a compound annual growth rate (CAGR) of 19.6% [3]. - The market is expected to continue expanding at a CAGR of 20.9% from 2025 to 2029, potentially exceeding CNY 30.5 billion by 2029 [3].
金添动漫赴港上市 奥特曼IP产品贡献过半收入
Zheng Quan Shi Bao Wang·2025-10-21 08:20