Investment Rating - The report rates the industry as "Buy" [2] Core Insights - The "Guzi Economy," representing the monetization of secondary IPs, is maturing and forming a complete industrial chain covering production, sales, logistics, and after-sales, becoming a significant growth point in cultural consumption [2][24] - The user base for the pan-secondary dimension in China has surpassed 500 million in 2023, with a projected increase to 520 million by 2026, reflecting a compound annual growth rate (CAGR) of 9.2% from 2016 to 2023 [2][24] - The secondary dimension industry in China has grown from 18.9 billion yuan in 2016 to 221.9 billion yuan in 2023, with a CAGR of 42.2%, and is expected to reach 590 billion yuan by 2029 [2][24] Summary by Sections Weekly Special: Secondary Dimension IP Monetization - The "Guzi Economy" includes derivative products based on anime, comics, and games, primarily targeting young consumers [2][24] - The complete industrial chain includes content production led by major companies like MiHoYo, Tencent, and NetEase, and significant IP agents like Alibaba Fish and Yizhou People [2][24] Weekly Market Review - From November 25 to November 29, 2024, the Shanghai Composite Index rose by 1.81%, with the light industry manufacturing sector increasing by 5.35% and textile and apparel rising by 7.65% [34] Key Data Tracking - The furniture sales in October 2024 reached 15.2 billion yuan, with a year-on-year growth of 7.4% [6] - The export value of furniture and its parts from January to October 2024 was 390.45 billion yuan, reflecting an 8.8% increase year-on-year [6] Industry Important News - Companies like Guangbo Co. and Miniso are leveraging both proprietary and licensed IPs to enhance brand competitiveness and market share, achieving significant revenue growth [2][31]
轻工纺服行业周报：二次元IP变现新机遇，“谷子经济”引领消费趋势
Huaan Securities·2024-12-02 12:32