IP衍生品产业研究（十四）：从CTE中国玩具展，看布鲁可产品力进阶

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies [20]. Core Insights - The 2025 CTE China Toy Exhibition showcased over 100 products from the company, including more than 20 new products and over 40 outstanding works from the BFC community, highlighting the introduction of a new product category, "Building Cars," and new IPs such as "Star Wars" and "DC" [3][11]. - The overall product range is extensive, covering multiple price points and demographics, with high-quality new products and improved cost-performance ratios [11]. - Feedback on new IPs, such as "Star Wars," has been positive, and the new category of building cars shows potential due to limited competition [11]. Summary by Sections Event Description - The 2025 CTE China Toy Exhibition, the largest toy exhibition in Asia, was held from October 15 to 17, featuring over 2,500 exhibitors and 5,400 brands, including 2,600 global licensed IPs [6]. Product Highlights - The company presented various products targeting different age groups, including: - For ages 4-6: "PreCOOL" series priced at 39 yuan, featuring new characters [8]. - For ages 6-16: "HERO" series with products priced from 9.9 yuan to 39 yuan, including new DC heroes and Transformers [8]. - For collectors aged 16 and above: "CHAMPION" and "LEGEND" series priced between 79 yuan and 249 yuan, featuring over 40 new products [9]. - New IPs and series were introduced, including "EVA" and "Pokémon," with a focus on DIY products for female players [9]. Community Engagement - The BFC community has hosted offline creative competitions in nearly 200 cities, receiving around 90,000 online submissions, establishing a unique brand culture [9].