新股消息 | 桑尼森迪递表港交所 “黑灯工厂”已正式投入生产

Core Viewpoint - Sunnysondi (Hunan) Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Goldman Sachs and China International Capital Corporation as joint sponsors [1] Company Overview - Sunnysondi is a technology-driven IP toy company focused on reshaping traditional toy manufacturing methods, utilizing patented technology to integrate multiple colors and materials in a single molding process, thereby reducing steps while maintaining high quality [3][4] - The company uses environmentally friendly materials like ABS and TPR instead of traditional PVC, minimizing the use of spray painting to comply with food contact and product safety standards [3] - Sunnysondi's "black light factory" operates 24/7 with full automation, significantly enhancing production efficiency, product consistency, and capacity scalability, making it one of the first "black light factories" globally [3] - The company has secured global licensing from FIFA to design, develop, manufacture, and distribute merchandise themed around the 2026 FIFA World Cup in over 60 countries and regions, showcasing its world-class design, production, and delivery capabilities [3] - Sunnysondi aims to promote Chinese cultural creativity globally by collaborating with top domestic IPs, integrating traditional and contemporary elements into its toys [4] Financial Information - For the fiscal years 2023, 2024, and the nine months ending September 30, 2025, the company reported revenues of approximately RMB 107 million, RMB 245 million, and RMB 386 million, respectively [5] - The gross profit for the same periods was RMB 18.01 million, RMB 56.88 million, and RMB 136.29 million, respectively [5] - The gross profit margins for 2023, 2024, and the nine months ending September 30, 2025, were 16.9%, 23.3%, and 35.3%, respectively [7] Industry Insights - The global IP toy industry has been steadily expanding, driven by continuous technological advancements, an increase in quality IPs, and a growing consumer base, with the market size increasing from RMB 362.9 billion in 2019 to RMB 589.3 billion [9][10] - The industry is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2024 to 2030 [9] - Companies with a rich IP portfolio can achieve more diverse creative designs and meet the varied preferences of consumers [12] - The market for affordable IP toys in China has grown from RMB 9.2 billion in 2019 to RMB 29 billion in 2024, with a projected CAGR of 25.8% from 2024 to 2030 [12]