传媒行业动态跟踪：潮玩新品类：集换式卡牌

Investment Rating - The industry is rated as "Outperform the Market" [7] Core Insights - The collectible card game segment is experiencing significant growth, with a market size of 11.31 billion yuan in 2022, showing a year-on-year increase of 42.1% [5] - The collectible card market is expected to grow at rates of 40.5%, 33.0%, and 30.8% from 2023 to 2025, reaching a market size of 27.66 billion yuan by 2025 [5] - The key drivers for consumer choice in collectible cards are aesthetic design (39.5%) and favored IP characters (38.9%) [4] Summary by Sections Collectible Card Format - Collectible cards are priced between 2 to 10 yuan, with packs containing 3 cards priced between 2 to 10 yuan and boxes containing 18 to 30 packs priced between 60 to 180 yuan [2] Gameplay and Collection - Collectible cards are categorized into competitive and collectible types, where competitive cards are used for strategic gameplay and collectible cards are primarily for collection [3] Importance of IP - The collectible card industry heavily relies on IP collaborations, with popular series including Ultraman, Pokémon, and My Little Pony [4] Market Size and Growth - The collectible card industry in China had a market size of 11.31 billion yuan in 2022, with the IP card market accounting for 8.67 billion yuan [5] Investment Recommendations - Suggested companies to watch include card-related firms like Yaoji Technology and Huali Technology, as well as IP-related companies such as Aofei Entertainment, Yuedu Group, and Bilibili [6]