18亿北京潮玩新贵 开始凶猛放量出货
2 1 Shi Ji Jing Ji Bao Dao·2025-12-04 06:16

Core Viewpoint - Qimeng Island is rapidly expanding its presence in the trendy toy market, aiming to achieve significant revenue growth through its IP-driven business model [2][6]. Financial Performance - For the period of July to September, Qimeng Island reported revenue of 127 million yuan, a quarter-on-quarter increase of 93.3%, with an operational loss of approximately 29 million yuan [2]. - The company anticipates revenue of 150 to 160 million yuan for the fourth quarter of 2023, projecting its main business to generate 750 to 800 million yuan in the next full fiscal year (July 2025 - June 2026) [6]. Product Development and IP Strategy - Qimeng Island has developed a portfolio of 11 proprietary IPs, including WAKUKU and ZIYULI, and operates over 40 blind box product lines and 30 plush card products [2]. - The newly launched IP SIINONO achieved sales of 12.89 million yuan within two months of its release, while ZIYULI generated 20.76 million yuan in the same timeframe, establishing them as key contributors alongside WAKUKU [3]. Market Expansion and Sales Channels - The company's online sales reached a GMV of 44.6 million yuan from July to September, with a 97.2% increase in GMV from its Douyin flagship store [5]. - Qimeng Island has expanded its offline presence to over 10,000 retail locations, including partnerships with MINISO and KKV, and plans to open four direct stores by early January [5]. Operational Challenges - Despite rapid growth, the core business has not yet achieved profitability, with significant sales and management expenses totaling 27.58 million yuan and 38.15 million yuan, respectively, leading to a net loss exceeding 25 million yuan for the period [7]. - As of September 30, the company held cash and cash equivalents of 789 million yuan, which can support short-term business expansion [7]. Investor Sentiment - Investor confidence remains low, as evidenced by a significant decline in Qimeng Island's market value, which dropped to approximately 250 million USD (about 1.8 billion yuan), losing two-thirds of its value from a three-month high [10].