YLYT(SZ:002878) Zheng Quan Shi Bao Wang·2025-10-29 15:06Core Insights - Yuanlong Yatu, a leading company in the cultural and creative industry, reported a revenue of 2.214 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 23.75%, and a net profit attributable to shareholders of 8.986 million yuan, up 127.09% [1] - In Q3 2025, the company achieved a revenue of 823 million yuan, reflecting a 41.06% year-on-year growth, and a net profit of 13.593 million yuan, which is a 235.80% increase compared to the same period last year [1] Group 1: Business Strategy and Performance - The company is advancing its "Big IP + Technology" core strategy, transitioning from a B2B marketing leader to a "B+C linkage" model, focusing on retail IP cultural product design and development [1][2] - The marketing service business, including gifts, promotional services, and new media marketing, generated a total revenue of 2.176 billion yuan in the first three quarters, up 25.17% year-on-year, with a gross profit of 259 million yuan, a 2.86% increase [2] - Yuanlong Yatu's licensed merchandise business in the sports IP sector generated 33.56 million yuan in revenue, with a gross margin of 35.22%, an increase of 3.42 percentage points, driven by events like the Harbin Winter Universiade and Chengdu World University Games [2] Group 2: Retail Strategy and Market Expansion - The company launched its C-end retail strategy with the establishment of a wholly-owned subsidiary, Yuanlong Yuanchuang Cultural (Beijing) Co., Ltd., and introduced the C-end retail sub-brand "Yuanlong Yuanchuang" [3] - The first store of "Yuanlong Yuanchuang" opened in Beijing, featuring nearly 400 SKUs from around 20 well-known domestic and international IPs, showcasing a modular store design that combines standardized IP scenes with local cultural displays [3] - The company is expanding its retail store network, with 51 licensed merchandise retail stores opened in Guangzhou, Shenzhen, and Hong Kong, anticipating continued revenue growth in the licensed merchandise business in Q4 [2][4]