Core Viewpoint - Wanda Film is actively expanding its IP toy business by leveraging its extensive cinema resources and plans to open 100 "Time Space" art stores by 2025, focusing on immersive experiences and diverse product offerings [2] Group 1: Business Strategy - The company is utilizing its over 700 cinema locations to create immersive IP experience spaces called "Time Space," which will integrate toy retail, themed exhibitions, and limited-time events [2] - Wanda Film's subsidiary, Ying Shiguang, is transitioning towards a trend entertainment company by focusing on IP incubation, AI interactive experiences, and comprehensive consumer engagement [2] - The company has a diverse IP resource library that includes its own film and game IPs, leading licensed IPs, original IPs, and co-created IPs with artists [2] Group 2: Partnerships and Collaborations - Wanda Film has strategically invested in the IP toy brand "52TOYS," initiating collaboration in product development, marketing, and other related areas to enhance mutual benefits [2] - The partnership aims to leverage each other's strengths to boost the company's non-ticket revenue streams [2] Group 3: Future Plans - The company is in the early stages of these initiatives and is actively promoting them, with specific progress and developments to be disclosed in regular reports [2]