中国商务部9月25日发布公告，决定自当天起对墨西哥相关涉华限制措施启动贸易投资壁垒调查。 根据公告，本案的被调查措施为：墨西哥政府拟对中国等非自贸伙伴的产品提高进口关税税率的相关措施。此外，墨西哥近年来采取的 其他涉及中国的贸易投资限制措施也在本次调查范围内。 商务部新闻发言人表示，中方认为，在当前美方滥施关税的背景下，各国应共同反对各种形式的单边主义和保护主义，绝不能因为他人 胁迫而牺牲第三方利益。墨方单边加税举动一旦落地，即便是在世贸框架内，也会损害包括中国在内的相关贸易伙伴的利益，还会严重 影响墨营商环境的确定性，降低企业对墨投资的信心，中方对此坚决反对。 墨西哥政府9月10日向国会提交关税提案，拟对来自中国及其他与墨方没有自由贸易协定的国家的进口商品加征最高达50%的关税，其中 既包括汽车及零部件、钢铁、纺织品等大宗商品，也包括日用品、鞋履服饰、玩具、家电等消费品。 当前，该关税提案仍处于审议阶段，需要议院批准才能生效。如果获批，相关措施预计最早于2026年12月31日前全面生效，但具体以何 种形式落地暂无定数。对中国出海企业来说，这一举措引发广泛讨论和担忧。中国商务部此前回应称，这么做将降低中国企业 ...

守护 Kidult 精神自留地，泡泡玛特首次超越迪士尼 2025 年上半年，历史上首次，泡泡玛特以 138.8 亿元的营收超过了迪士尼消费品部的 138.6 亿元。 虽然玩具领域的"东升西落"并不是新鲜事，但一份由 @wuhu动画人空间 整理的榜单却依然引起了小红书用户的热议。 | | | | | 2025年上半年玩具与IP消费品公司收入 | | | --- | --- | --- | --- | --- | --- | | 排名 | 品牌 | 中文品牌名 | 地区 | 销售收入(亿元人民币) | 备注 | | 1 | The LEGO Group | 乐高集团 | 丹麦 | 384.5 | 基于公司2025年半年报 | | 2 | Pop Mart | 泡泡玛特 | 中国 | 138.8 | 基于公司2025年半年报 | | 3 | Disney | 迪士尼 | 美国 | 138.6 | 基于2025年Q2与Q3财报估算 | | 4 | Bandai Namco | 万代南梦宫 | 日本 | 134.4 | 基于2025年年报估算 | | 5 | Hasbro | 孩之宝 | 美国 | 133.4 | 基于 ...

从借鉴日本食玩的微缩巧思、扭蛋机的低门槛逻辑，到国内UGC二创的创意迸发、收纳审美的升级，迷你潮玩在这样的演进中，催生出市场 消费热潮。如今，迷你潮玩已经开始跳出小众收藏圈层，进入大众消费市场，成为不可忽视的重要品类。玩具尺寸从 「大」变「小」的背 后，是年轻人消费观念和审美观念的转变，这种转变又反哺着产业生态的发展。 在社媒语境中，来自东北方言的「小鼻嘎」已经成了迷你玩具的代称。 「小鼻嘎」中的顶流之一是一只黄色贵宾犬——森贝儿家族系列IP中的Milo。写着「已老实，求放过」字样的表情包因贴合当代年轻人精神状态迅速走 红，无辜可爱的形象和阴阳怪气的文案形成反差萌。这个来自日本的老牌玩具公司EPOCH旗下的40年经典IP就此焕发了新的生命力，只有2cm大小的迷你 公仔在中国收获了无数「信众」。 在垂直潮玩领域，迷你型号延伸出更独立的产品品类：「萌粒」。广东省玩具协会《2025年度全球玩具产业发展报告》显示，2024年中国潮玩整体市场规 模预计达727亿元，其中「盲盒盲袋公仔/萌粒」被列为大多数厂商认可的热门品类。而在捏捏、毛绒以至于吧唧等更宽泛的玩具品类下，产品的迷你化也 在成为热门趋势。小尺寸、低门槛、强情 ...

Core Viewpoint - The global robotics market is projected to exceed $1.2 trillion by 2030, indicating a significant growth opportunity despite previous uncertainties in business monetization paths [3][7]. Group 1: Industry Trends - The robotics industry has faced a period of unclear business paths, with companies focusing on long-term value creation rather than immediate financial returns [6][7]. - A shift is expected by 2025, driven by advancements in embodied intelligence and increased investment activity, leading to a more structured ecosystem [8][9]. Group 2: JD's Strategic Positioning - JD has launched its embodied intelligence brand, JoyInside, aiming to become a key player in the robotics market by providing both hardware and software solutions [12][14]. - JoyInside offers a comprehensive solution that integrates hardware, software, and ecosystem support, addressing the technical gaps faced by traditional robotics companies [18][39]. Group 3: AI Toy Market Dynamics - The AI toy market is anticipated to surpass $10 billion by 2030, with a growth rate exceeding 70%, attracting significant interest from major players [21][22]. - JoyInside enhances AI toys by providing intelligent interaction capabilities, making them more appealing to consumers and increasing user engagement [25][27]. Group 4: Competitive Advantages - JD's JoyInside platform leverages its extensive retail experience and data to optimize user interactions and improve the overall customer experience [39][41]. - The integration of JoyInside into various AI products has shown significant improvements in user engagement, with some products experiencing over 120% increase in interaction [31][43].

Core Viewpoint - In the first half of 2025, China's Pop Mart has surpassed Disney and Bandai Namco in toy revenue, becoming the second-largest toy company globally, only behind LEGO, with a revenue of 138.76 billion RMB, marking a significant growth in the industry landscape [1][5]. Revenue Performance - Pop Mart achieved a revenue of 138.8 billion RMB in the first half of 2025, representing a year-on-year growth of 204.4%, while adjusted net profit reached 47.1 billion RMB, up 362.8% [1]. - The core IP "THE MONSTERS," represented by Labubu, contributed 48.1 billion RMB in revenue, accounting for 34.7% of total revenue [3]. - The plush toy category saw revenue of 61.4 billion RMB, a staggering increase of 1276.2%, surpassing the figure for figurines for the first time [3]. Comparison with Competitors - Disney's consumer products division reported a revenue of 138.6 billion RMB in the first half of 2025, with a growth of approximately 3.5%, while Bandai Namco's toy revenue is estimated at 134.4 billion RMB [5]. - Pop Mart, Disney, and Bandai Namco are closely matched in toy revenue, with only a few hundred million RMB separating them [5]. IP Strategy and Market Position - Pop Mart's success is attributed to its unique approach, leveraging its own IPs without relying on traditional media narratives, unlike Disney and Bandai Namco, which depend on strong content ecosystems [7][9]. - Pop Mart's IPs, including THE MONSTERS, MOLLY, SKULLPANDA, CRYBABY, and DIMOO, all generated over 10 billion RMB in revenue, indicating a robust portfolio [9]. - The recent opening of Pop Mart's city park in Beijing signifies a strategic move to enhance IP value through physical experiences [10]. Future Outlook - Despite Pop Mart's rapid growth, traditional giants like Disney and Bandai Namco still hold advantages in IP diversity and global reach, leaving the future competitive landscape uncertain [12].

Group 1 - The Chinese Ministry of Commerce announced a trade investigation into Mexico's trade restrictions against Chinese imports, particularly targeting the automotive sector [1] - The investigation was triggered by Mexico's decision to raise tariffs on automotive imports from countries without free trade agreements from 20% to 50%, significantly impacting Chinese automotive exports, which amounted to $3.7 billion in 2022, accounting for 15% of Mexico's total automotive imports [1] - The scope of the investigation mirrors the sectors affected by Mexico's tariff increase, including automotive manufacturing, textiles, children's toys, and agricultural products, with a flexible investigation period of six months that can be extended [1] Group 2 - The investigation serves as a warning to Mexico, emphasizing that external pressures should not compromise third-party interests, implicitly pointing to the influence of the United States [2] - By initiating this investigation during a time when the Biden administration is strengthening economic ties with Mexico, China is sending a clear message that any attempts to create a trade encirclement against China will face strong retaliation [4] - Mexico exports approximately $280 million worth of agricultural products to China annually, with fresh products like avocados and berries having a high dependency rate of 40%, which could become leverage for China in future retaliatory measures [4] Group 3 - There remains a negotiation window of about 90 days before Mexico's tariff policy is officially implemented, indicating potential for resolution [7] - If Mexico proceeds with the tariff increase, it could lead to significant impacts on global supply chains, particularly affecting consumers in Mexico who rely heavily on Chinese manufacturing for automotive and electronic products [7] - The outcome of this trade dispute will test the political acumen of all parties involved [7]

Core Insights - The article discusses the significant changes in the global toy industry, highlighting the revenue rankings of toy companies for the first half of 2025, which reflect evolving consumer trends and business models in the post-pandemic era [5][6]. Group 1: Market Overview - The global toy market showed a notable recovery in the first half of 2025, with an average year-on-year sales growth of 7% across 12 major markets excluding China [6]. - Specific categories such as "games and puzzles" and "collectibles" experienced explosive growth, with increases of 36% and 35% respectively [7]. Group 2: Revenue Rankings - The top toy companies by revenue for the first half of 2025 include: - LEGO Group: 38.45 billion RMB - Pop Mart: 13.88 billion RMB - Disney: 13.86 billion RMB - Bandai Namco: 14.44 billion RMB - Hasbro: 13.34 billion RMB - Mattel: 13.18 billion RMB - Sega Sammy: 6.64 billion RMB - Asmodee: 5.77 billion RMB - Tomy: 5.55 billion RMB - Pokémon: 5.50 billion RMB - Spin Master: 5.21 billion RMB - MGA Entertainment: 3.93 billion RMB - Sanrio: 3.91 billion RMB - Ravensburger: 3.04 billion RMB - VTech: 2.89 billion RMB - Funko: 2.74 billion RMB - Simba Dickie Group: 2.71 billion RMB - Moose Toys: 2.68 billion RMB - JAKKS Pacific: 1.66 billion RMB - Blokees: 1.34 billion RMB - Dream International Limited: 1.21 billion RMB [12][11]. Group 3: Key Trends - The article identifies three major trends driving profitability and growth in the toy industry: 1. The rise of IP collectible toys and trading card games. 2. The increasing importance of adult consumers in the toy market. 3. The necessity for brands to excel in IP development and cross-platform value amplification [15][19]. Group 4: Company Strategies - Disney continues to leverage its strong content ecosystem to drive sales, with its consumer products division generating 13.86 billion RMB in revenue, a 3.5% increase year-on-year [21][26]. - Bandai Namco's toy sales are closely tied to its content, with significant contributions from popular franchises like "One Piece" and "Dragon Ball" [27][30]. - Mattel is transitioning from a traditional toy company to a content-driven entity, establishing Mattel Studios to enhance its IP narrative capabilities [39][42]. - Pop Mart has emerged as a leading player in the global trend toy market, achieving 13.88 billion RMB in revenue, with its core IP "THE MONSTERS" contributing significantly to its success [48][50]. Group 5: Trading Card Games - Trading card games (TCGs) have become one of the fastest-growing and most profitable segments in the toy market, with the global TCG market projected to reach $7.8 billion (approximately 55.5 billion RMB) in 2025 [56][59]. - Hasbro's "Magic: The Gathering: Final Fantasy" set a record for single-day sales, highlighting the potential of TCGs in driving revenue growth [61][66]. Group 6: Distribution and Market Dynamics - Asmodee has established itself as a major distributor in the TCG market, with approximately 64% of its revenue coming from card games [69][76]. - Bandai Namco has also made significant strides in the TCG space, with multiple titles dominating sales charts in Japan [77][80].

上海市 泡泡玛特门店 "要拉布布吗？"在浙江省某批发市场行走时，一名路过的男子低声问道，并提出交易："买10个以上一 个2.5元"。中国曾因大量生产外国品牌的仿冒品而饱受国际社会批评。如今，中国也体验到了作为执法 方的辛苦…… 中国海关当局在今年1月至8月中旬，查获了183万个在全球人气攀升的中国原创角色"拉布布"的假货。 长期以来，中国因大量生产外国品牌的仿冒品而饱受国际社会批评。如今，中国也体验到了作为执法方 的辛苦。 "要拉布布吗？"在浙江省某批发市场行走时，一名路过的男子低声问道，并提出交易："买10个以上一 个2.5元"。与售价约100元的正品相比，价格极其便宜。男子小声说："这是假的，被抓到就要坐牢"。 全球热销，销售额增长7倍 拉布布是香港插画家龙家升（Kasing Lung）绘本中的角色。玩具巨头泡泡玛特（Pop Mart）自2019年 起，以"THE MONSTERS"系列名义销售毛绒玩具和手办等产品。 2024年，韩国女子组合BLACKPINK成员在照片分享应用Instagram上发布了拉布布周边的照片，掀起了 年轻人在全球范围内将拉布布挂饰挂在包包上的潮流。 全球 各路名人也纷纷介绍这一 ...

Core Insights - The integration of "Chinese industry" with "global design" is redefining product possibilities, highlighted by the conclusion of the 2025 Hebei International Industrial Design Week, which attracted participation from over 2,488 design institutions and innovative enterprises from more than 70 countries and regions since its inception in 2018 [1][2] Group 1: Event Overview - The design week showcased over 24,000 design pieces from both domestic and international sources, drawing global attention to the event [1] - High-level exhibitions and international product launches were held, focusing on cutting-edge design trends and facilitating design matchmaking sessions with countries like Italy, Denmark, and Japan [1][2] Group 2: Industry Focus - The design matchmaking sessions targeted specific needs in Hebei's fashion industry clusters, such as bag manufacturing, cashmere, leather, and furniture, as well as demands for design innovation and procurement in various industrial sectors [2] - The event served as a bridge for Hebei enterprises to connect with international resources, promoting the internationalization of Hebei's design innovation [2] Group 3: Market Trends - The rise of the Z generation, self-indulgence economy, and IP economy are driving rapid growth in the trendy toy market, with a mature supply chain in China making it an opportune time for trendy toys to enter overseas markets [3] - The emphasis on storytelling in product design is crucial, as consumers are increasingly interested in the narratives behind products rather than just their physical attributes [3] Group 4: Environmental and Economic Impact - The "Reed Building System" from Xiong'an exemplifies high value and environmental benefits, with reed materials exported to 17 countries, showcasing a price increase of 20 times for mid-range products [3] - The role of design is evolving from merely beautifying products to becoming a core driver of industrial upgrades, as emphasized by the director of the Hebei Future Industrial Design Innovation Center [3]

来源：21世纪商业评论 潮汕创二 代陈创煌， 招揽人才振兴家业。 以下文章来源于21世纪商业评论 ，作者王睿 蔡婷 21世纪商业评论 . 《21世纪商业评论》敏感于一切商业新知、商业产品、商业模式和商业英雄，敏感于新公司的新玩意、 老公司的新改造、旧话题的新表达、老商业的新颠覆，为您提供最新鲜实用的商业养分。 收拢资源，聚焦主业。 撰文：王睿 蔡婷 来 「 黑马·消费崛起精选课 」， 向中日消费冠军学习产品创新和品牌出海。 扫码咨询报名 9月16日，其主持召开股东大会，审议通过星辉娱乐第一个员工持股计划。 据计划，6位高管和53名核心骨干，能以2.9元/股的价格，购入257万股。对比 当日 收盘 价，这相当于打了4折。 "我们希望借此激励员工，使其更好地为主营业务做贡献，并增加员工跟公司的粘性。"星辉娱 乐证券部回复《21CBR》记者。 陈创煌掌管星辉已有三年，其动作频频，收拢战线，准备卖出一家120年的西甲俱乐部。 这位年轻掌门人，将资源投向玩具和游戏业务，开始收获成果，星辉娱乐联营公司云图动漫， 制作的《剑来2》动漫作品，与腾讯合作，预约量已超500万。 此事也点燃市场热情，星辉娱乐一度连日大涨，至18日 ...