泡泡玛特、红杉、阅文押注，又一家卡牌公司准备上市

Core Insights - The collectible card market is entering a "monetization era" with companies like Hitcard and the industry leader, Kayo, pursuing IPOs [1][4] - Hitcard, founded in 2021, focuses on adult collectible cards and has secured significant funding from various investors, including major players like Reading Group and CyberAgent [1][3] - The company has achieved approximately 400 million RMB in revenue last year, with a projected 100% year-on-year growth this year, and has already reached profitability [3][4] Company Overview - Hitcard is a brand under Shanghai Qixing Network Technology Co., Ltd., specializing in collectible cards for adults [1] - The company has developed partnerships with popular IPs, including anime and film franchises, enhancing its product offerings [3] - Hitcard's collaboration with Reading Group allows access to over 1,000 IPs and offline channel resources [1] Market Dynamics - The collectible card market in China is still developing, with significant growth potential compared to developed countries [4] - In 2024, the top five companies in the collectible card industry will hold 82.4% of the market share, with Kayo leading at 71.1% [4] - The market is expected to grow at a compound annual growth rate of 11.1%, reaching 44.6 billion RMB by 2029 [4]