Ge Long Hui·2025-10-24 04:57Core Insights - The company reported a significant increase in overall revenue for Q3 2025, with a growth of 245%-250% compared to the same period in 2024 [1] - Revenue from the China region grew by 185%-190%, while overseas revenue surged by 365%-370% [1] Revenue Breakdown - Offline channels in China saw a revenue increase of 130%-135%, while online channels experienced a remarkable growth of 300%-305% [1] - The overseas market continued its high growth trajectory, with the Asia-Pacific region growing by 170%-175%, the Americas by 1265%-1270%, and Europe and other regions by 735%-740% [1] Market Dynamics - The online growth in China for Q3 significantly outperformed the 212% growth seen in the first half of the year, attributed to innovative channel strategies and the impact of pre-sale income recognition for key products [1] - In the overseas market, the Americas are expected to experience monthly fluctuations due to restocking schedules, while the European market focuses on expanding into untapped regions [1] Future Outlook - The company anticipates continued high growth in the short to medium term, with the upcoming e-commerce promotions in China and the North American shopping season starting with Halloween [2] - For 2026, the company expects improved store efficiency in China and the Asia-Pacific region, alongside new business models being developed [2] IP Industry Position - The company is positioned as a leader in the trendy toy culture and commercialization, with IP being central to its business model [2] - The company has established an integrated platform covering the entire trendy toy industry chain, including artist discovery, IP operation, consumer engagement, and cultural promotion [2] Financial Projections - Revenue projections for 2025-2027 are set at 400.62 billion, 580.21 billion, and 778.14 billion respectively, with adjusted net profits of 140.02 billion, 203.61 billion, and 276.87 billion [2]