Century Securities·2025-04-28 00:34Investment Rating - The report indicates a strong market outlook for the IP toy and pet food sectors, suggesting a positive investment rating for these industries [2]. Core Insights - The IP toy industry is experiencing high growth, with leading brand Pop Mart reporting a revenue increase of 165%-170% year-on-year for Q1 2025, and a significant 475%-480% growth in overseas revenue [2][4]. - The pet food sector also shows robust growth, with leading brands reporting revenue increases of 21.22% and 19.2% year-on-year for 2024, and Q1 2025 revenues growing by 34.82% and 25.41% respectively [2][4]. Summary by Sections Market Weekly Review - The consumer sector showed mixed performance, with beauty care and home appliances leading with increases of +3.80% and +2.28% respectively, while food and beverage sectors saw declines [4]. - Notable stock performances included Wanchen Group (+22.23%) and Budweiser (+61.05%) leading the gains, while ST Chuntian (-21.52%) and Xingguang Co. (-31.73%) faced significant losses [4]. Industry News and Key Company Announcements - The report highlights the strong growth potential in the Chinese toy market, with projections estimating the market size to reach 168.9 billion yuan by 2024, growing at a CAGR of nearly 18% from 2017 to 2024 [2][4]. - The pet market is also expanding, with the urban pet consumption market expected to grow by 7.5% in 2024, reaching 300.2 billion yuan, and projected to hit 404.2 billion yuan by 2027 [2][4].