随着我国老龄化进程加快，截至2024年末，60岁及以上老年人口已达3.1亿，占总人口的22%。然而， 适老玩具市场长期存在设计不规范、功能不匹配、安全无标准的问题。澄海玩具协会联合华南理工大 学、广东省质检院等单位，历时18个月研制完成《适老玩具团体标准》，明确了产品分类、技术要求、 标志标识及检验方法，为生产企业提供研发与品控依据，也为老年人带来更安全、有趣、温暖的陪伴产 品。 中国发展网讯林少丽杨帆记者罗勉报道10月22日，从汕头市澄海区玩具协会主办的2025年汕头市玩具设 计大赛颁奖仪式暨适老玩具团体标准发布会了解到，国内首个《适老玩具团体标准》正式发布，标志着 澄海玩具产业在细分市场标准化、专业化道路上迈出关键一步。 活动现场还举行了2025汕头市玩具设计大赛颁奖仪式及澄海玩具产业年度颁奖盛典。大赛设立产品组与 概念组，涌现出"智能手办底座""3D贪吃蛇"等一批融合科技、文化与创意的优秀作品。产业奖项方 面，"玩具智造奖""匠心智造奖""优秀供应商""卓越贡献奖""战略合作伙伴"五大类奖项颁发给一批优秀 企业，涵盖智能制造、产业链协同、市场拓展等多个维度，展现澄海玩具产业的生态活力与协同创新实 力。 ...

Investment Rating - The report maintains a strong buy rating for the card industry, indicating a positive outlook for investment opportunities [3]. Core Insights - The card industry is characterized by high growth and significant potential within the broader entertainment sector, with collectible card games (CCGs) experiencing a compound annual growth rate (CAGR) exceeding 50% over the past five years [5]. - The leading company in the collectible card market, Card Game Co., has shown impressive revenue growth, with projected revenues increasing from 4.131 billion yuan in 2022 to 10.057 billion yuan in 2024, reflecting a CAGR of 56.03% [5][6]. - The report highlights the competitive landscape, noting that while Card Game Co. dominates the market, there is increasing competition from brands like Collect Card Society and Flash Soul [5][6]. Industry Analysis - The collectible card market in China is still in its early stages compared to more mature markets like Japan and the United States, suggesting substantial room for growth in per capita spending [39]. - The overall market for collectible cards in China is projected to grow from 2.8 billion yuan in 2019 to 26.3 billion yuan by 2024, with a CAGR of 56.6% [20]. - The report emphasizes the importance of intellectual property (IP) partnerships, as Card Game Co. has secured licenses for popular franchises such as Ultraman and My Little Pony, enhancing its product offerings [43]. Company Overview - Card Game Co. has established itself as a leader in the collectible card market, with a strong focus on expanding its IP and product matrix, currently holding 69 licensed IPs and one proprietary IP [43]. - The company has a concentrated ownership structure, with the founders holding 83.5% of the shares, which allows for strategic decision-making aligned with long-term growth objectives [45]. - Financially, Card Game Co. has demonstrated robust performance, with revenues increasing significantly and adjusted net profits projected to rise from 1.62 billion yuan in 2022 to 4.466 billion yuan in 2024, reflecting a CAGR of 66.05% [51]. Competitive Advantages - The report identifies several competitive advantages for Card Game Co., including a diverse IP portfolio, strong distribution channels, and innovative gameplay design that enhances consumer engagement [6][7]. - The company is well-positioned to capitalize on the growing demand for collectible cards, particularly among younger consumers who favor low-priced, high-frequency purchases [7]. - Card Game Co. is also exploring international markets, aiming to leverage its established brand and product offerings to create a second growth curve [7]. Growth Outlook - The report suggests that the collectible card industry is poised for continued expansion, driven by collaborations with content creators and a focus on enhancing the entertainment and social aspects of competitive trading card games (TCGs) [7]. - The potential for growth in the collectible card segment is further supported by the increasing popularity of mobile gaming, which may help broaden the audience for card games [5][6].

Core Insights - The 24th Shantou Chenghai International Toy and Gift Expo opened on October 23, featuring a theme of "Toy Capital, Energizing the World" with an exhibition area of 100,000 square meters, showcasing 2,000 brands from 53 countries and regions, and expecting 250,000 professional visitors and consumers [1] - The expo introduced an innovative format of "2.5 days for professionals + 1.5 days for the public," catering to both professional buyers and the general public [1] - The first day of the expo saw a signing amount of 15.8 billion yuan, with Charoen Pokphand Group making a significant purchase of 40 million yuan, highlighting the strong industrial appeal of Chenghai toys [1] Industry Development - Chenghai's toy industry is accelerating its transformation from "manufacturing" to "intelligent manufacturing," aiming to build a trillion-level industrial cluster [1] - Chenghai has established a complete industrial chain, with over 90% of toy parts available for local procurement, and new products can be delivered in as fast as 7 days [1] - The industrial output value of Chenghai's toy creative industry is projected to reach 14.091 billion yuan in 2024, with products exported to over 140 countries and regions worldwide [1] Innovation Highlights - AI toys emerged as a major highlight at the expo, featuring innovative products like AI Magic Star and dance robots that incorporate advanced technologies such as voice interaction and multi-modal recognition [2] - The "Guangdong Province Action Plan for Accelerating AI Empowerment in the Toy Industry (2025-2027)" was introduced, providing new momentum for the development of AI toys in Chenghai [2] - Chenghai is focusing on both independent innovation and international cooperation in IP ecosystem development, nurturing classic domestic IPs while collaborating with renowned international IPs like Pokémon and Disney [2] Achievements and Events - Chenghai's toy industry recently set a Guinness World Record with 1,860 students and teachers using over 1.4 million building blocks to create a puzzle in 8 hours, showcasing the transition from "manufacturing" to "creation" [2] - The expo also gathered nine major toy industrial belts from across the country, featuring specialized exhibition areas for drones, trendy toys, and sports toys, demonstrating the innovative vitality and development potential of China's toy industry [2] - The event will continue until October 26, hosting over 20 professional activities, including the Third China Building Block Industry Conference and cross-border procurement matchmaking events [2]

2025 年 10 月 24 日 星期五 ➢ 每日大市点评 周四港股低开高走。恒生指数一度突破 26,000 点，但是最终回顺，收报 25,968 点，上升 0.7%。国企指数收报 9,301 点， 上升 0.8%。成交配合大市增长，全日港股成交 2,453 亿港元，高于周三的 2,275 亿港元。分类指数方面，能源、非必需 性消费、电讯分别上升 1.6%、1.0%、0.8%，工业、必需性消费、医疗保健分别下跌 0.1%、0.2%、1.2%。蓝筹个股方面， 李宁(2331 HK)及中国宏桥(1378 HK)领涨，分别上升 6.6%及 4.5%；泡泡玛特(9992 HK)及石药集团(1093 HK)领跌，分别 下跌 9.4%及 3.0%。 四中全会公报昨日发布。内容整体符合预期。全会提出了"十五五"经济社会发展的主要目标：(一)高质量发展取得显 着成效；(二)科技自立自强水平大幅提高；(三)进一步全面深化改革取得新突破；(四)社会文明程度明显提升；(五)人 民生活品质不断提高；(六)美丽中国建设取得新的重大进展；(七)国家安全屏障更加巩固。全会也提出，到 2035 年经济 实力、科技实力、国防实力、综合国力和国 ...

10月23日，由广东省商务厅主办，澄海区人民政府、汕头市商务局联合主办，广东省网商协会、汕头市澄海区玩具协会承办的"跨境电商+产业带"助力"百千 万工程"系列活动——澄海玩具创意产业带专场在汕头国际会展中心举行。本次专场活动以"主题分享+生态展示+采购对接"三位一体的综合形式展开，聚焦 玩具产业跨境电商发展，搭建政策解读、资源对接、品牌出海的高效平台，推动广东特色产业带与跨境电商深度融合，助力澄海玩具走向全球。 值得关注的是，今年3月，汕头澄海玩具创意产业带成功入选广东省首批"跨境电商+产业带"试点名单，成为十个入选产业带之一，在第24届玩博会期间举办 的澄海玩具创意产业带专场活动，正是澄海区推动《汕头市澄海区跨境电商赋能玩具创意产业带，助力"百千万工程"三年行动计划》（2025—2027）落地、 促进玩具创意产业与跨境电商深度融合的关键实践。 活动邀请了在玩具品类上拿到成果的跨境电商卖家代表进行了实战分享——泡芙传媒通过结合海外短视频与直播，打造了一系列的潮玩IP，将高附加值玩具 商品销往海外；跨境电商卖家卓学诚科技分享玩具出海东南亚道路上遇到的"坑"与实战经历。作为海外电商增量市场平台代表，Egatee与 ...

Core Insights - The toy industry is undergoing significant changes, largely initiated by Pop Mart's impressive Q3 2025 earnings announcement, which revealed a staggering 245% year-on-year revenue increase [1] - The overseas market growth for Pop Mart was particularly remarkable, soaring between 365% and 370%, overshadowing the 185% to 190% growth in the Chinese market [1][3] - The Americas market experienced over a 12-fold increase, propelling Pop Mart into the global spotlight [1] - Online sales channels showed exceptional performance with over 300% growth, significantly outpacing the 130% increase in offline sales, highlighting the success of the company's digital transformation [1] Market Performance - Pop Mart's overall revenue growth reflects a broader trend in the toy industry, with Europe and other regions achieving a growth rate of 735% to 740%, and the Asia-Pacific region seeing a 170% to 175% increase [3] - Despite these impressive figures, concerns are emerging regarding the sustainability of such high growth rates, as indicated by analysts who suggest that the market has already priced in expectations of a slowdown in growth [5] Investment Sentiment - The capital market is becoming increasingly rational regarding the "new consumption" phenomenon, as evidenced by the decline in stock prices of Pop Mart and other related companies, signaling a shift in investor confidence [5] - The success of Pop Mart is attributed to continuous innovation and precise marketing, yet it faces challenges related to product lifecycle limitations and cultural differences in global markets [6] Future Outlook - The rapid expansion into global markets presents both opportunities and challenges, with the online sales boom altering traditional retail dynamics and introducing new operational pressures [6] - Investors are exhibiting caution, reflecting concerns about Pop Mart's future growth and the cyclical nature of the consumer industry [6][7] - The case of Pop Mart serves as a warning to new consumer brands that rapid growth often leads to subsequent challenges, emphasizing the need for sustainable development [8]

2025.10.23 本文字数：2828，阅读时长大约4分钟 作者 |第一财经 王方然 短短几个月时间，曾经风光无限的港股新消费板块，就从一路高歌猛进，走向了"杀估值"的急剧下跌。 10月23日，港股新消费板块持续走低，泡泡玛特（09992.HK）盘中一度跌近11%，最终报收232.4港元/ 股，跌幅9.36%，最新总市值为3121亿元；两只明星股古茗、蜜雪集团（02097.HK），也分别跌超 6%、4%。 目前，泡泡玛特、老铺黄金（06181.HK）、蜜雪集团等明星股，较年内高点已普遍跌幅超20%，三大 龙头市值蒸发超2800亿港元。泡泡玛特交出同比增长245%-250%的亮眼三季报后，股价仍连续下挫。 资金流向显示，南下资金虽然仍在流入，但香港本地、国际中介机构的资金，却出现一定程度撤离。 业内人士分析，增长见顶的担忧、商业模式的再审视，以及巨大的获利了结压力，共同构成了本轮调整 的三重推手。在当前阶段，机构分歧正在加剧——是短暂回调还是叙事终结，将成为决定板块未来走势 的关键。 三大龙头较年内高点蒸发2800亿港元 恒生指数持续震荡之际，年内表现一度领跑港股的新消费板块，近期遭遇集体重挫，多只明星股自年 ...

第24届汕头·澄海国际玩具礼品博览会举行 中新网汕头10月23日电 (记者 李怡青)第24届汕头·澄海国际玩具礼品博览会(以下简称"玩博会")10月23日 至26日在广东汕头举行，海内外2000多个品牌25万款玩具及相关产品参展。 第24届汕头·澄海国际玩具礼品博览会(以下简称"玩博会")10月23日至26日在广东汕头举行，海内外 2000多个品牌25万款玩具及相关产品参展。林大森 摄 本届展会亮点聚焦人工智能、智能制造与科技创新。与往年相比，新增了无人机、潮玩、AI玩具特色 展区，其中无人机展区有10家企业参展。主办方介绍，目前澄海无人机产业企业约200家，构建了覆盖 研发设计、精密制造、测试飞行等完整无人机产业链，产品涉及农业植保、地理测绘、物流配送及应急 救援等多个领域。 玩博会期间，泰国正大集团及来自美国、墨西哥等地采购商代表和内地采购商代表分别与本地供应商代 表签订协议，总意向金额达158亿元人民币。 巴基斯坦驻广州总领事馆商务参赞伊姆兰23日接受记者采访时说，汕头市澄海玩具协会与巴基斯坦玩具 贸易商协会已建立了良好的合作关系。中国是巴基斯坦最主要的玩具进口来源国，占据进口市场份额近 九成，希望未来 ...

【导读】港股三大指数今日集体收涨 港股今日午后涨幅扩大，三大指数集体收涨。石油、银行等红利板块上涨，医药股继续下跌。 据商务部消息，中美双方将就中美经贸关系中的重要问题进行磋商。 港股全天震荡 午后发力 10月23日，港股三大指数全天震荡，午后发力，涨幅扩大。 截至收盘，恒生指数上涨0.72%，恒生科技指数上涨0.48%，恒生中国企业指数上涨0.83%。 盘面上，石油股走强，内银股继续拉升，医药股延续下跌。个股方面，泡泡玛特重挫超9%，美团盘中涨超6%。 盘中，根据商务部的消息，经中美双方商定，中共中央政治局委员、国务院副总理何立峰将于10月24日至27日率团赴马来西亚与美方举行经贸磋商。双方 将按照今年以来两国元首历次通话重要共识，就中美经贸关系中的重要问题进行磋商。 | 整体市场 [^ | | | | --- | --- | --- | | 恒生指数 | 恒生国企 | 恒生科技 | | 25967.98 | 9300.74 | 5951.45 | | +186.21 +0.72% | +76.96 +0.83% | +28.36 +0.48% | | 恒指期货 | 港股通50 | 恒生生物科技 | | 2 ...

【导读】港股三大指数今日集体收涨 中国基金报记者 储是 港股今日午后涨幅扩大，三大指数集体收涨。石油、银行等红利板块上涨，医药股继续下 跌。 据商务部消息，中美双方将就中美经贸关系中的重要问题进行磋商。 港股全天震荡 午后发力 10月23日，港股三大指数全天震荡，午后发力，涨幅扩大。 截至收盘，恒生指数上涨0.72%，恒生科技指数上涨0.48%，恒生中国企业指数上涨 0.83%。 盘面上，石油股走强，内银股继续拉升，医药股延续下跌。个股方面，泡泡玛特重挫超9%， 美团盘中涨超6%。 盘中，根据商务部的消息，经中美双方商定，中共中央政治局委员、国务院副总理何立峰将 于10月24日至27日率团赴马来西亚与美方举行经贸磋商。双方将按照今年以来两国元首历次 通话重要共识，就中美经贸关系中的重要问题进行磋商。 整体市场 它 | 恒生指数 | 恒生国企 | 恒生科技 | | --- | --- | --- | | 25967.98 | 9300.74 | 5951.45 | | +186.21 +0.72% | +76.96 +0.83% | +28.36 +0.48% | | 恒指期货 | 港股通50 | 恒生生物科技 ...