Summary of Company and Industry Insights from Conference Call Company Overview - **Company**: 布鲁可 (Blukoo) - **Industry**: Toy and Collectible Market Key Points and Arguments Sales Performance - In Q2, Blukoo's sales trend is close to expectations, targeting over 1.2 billion CNY (excluding tax), with approximately 75% of the target achieved so far [1][2][3] - The Ultraman series' sales proportion increased from 35%-40% to 50%-55% after the launch of the new Ultraman 14 series in May [1][4] Product Launch and Strategy - New product promotion occurs in three phases: trial sales (KA channels, core regions), nationwide rollout, and increased supply [1][5] - The Conan series is currently in the trial sales phase, while Pokémon and Minions have been fully rolled out [6][7] - Focus on the Kamen Rider IP, aiming for it to maintain a 15% sales share due to positive retail turnover [1][9] Target Demographics - Plans to launch female-oriented products, with 50-60% of SKUs expected to cater to this demographic [10][11] - Current consumer demographics show that approximately 75%-80% of Pokémon buyers are male, while Minions have a slightly higher female consumer ratio of about 30% [13] Market Dynamics - The domestic market remains stable, while international orders are recovering post-political negotiations [2] - The KA channel's revenue share is expected to increase from about 10% last year to over 20% this year [2][29] Financial Goals - Last year's Q2 sales were over 600 million CNY, with a full-year target of 2 billion CNY, ultimately achieving 2.2 billion CNY [2] - This year's overall sales target is doubled to 4.5 billion CNY, with Q2 specifically targeting over 1.2 billion CNY [2] Product Mix and Pricing - Blind box products account for nearly 80% of sales, with a plan to increase the proportion of named products [38] - Products priced over 100 CNY make up about 30% of sales, with new high-end figures priced at 799 CNY and 1,299 CNY expected to boost this segment [39] Channel Strategy - KA channels are directly managed by the company, with a current network of approximately 9,700 outlets, indicating limited future expansion [31] - The company is focusing on optimizing display areas and inventory management in KA channels [37] Consumer Preferences and Product Development - The company employs a market-driven approach to product development, using sales data and consumer feedback to iterate on designs [17] - There is a significant focus on maintaining the original characteristics of established IPs while exploring new designs for female-oriented products [16][17] Challenges and Opportunities - The company faces challenges in balancing the design and approval processes for major IPs while seeking to innovate in the female-oriented product space [17] - The overall sales performance in May showed a significant increase compared to the previous year, driven by promotional events [28] Future Outlook - The company is optimistic about the sales trajectory for Q2, with expectations of meeting or exceeding targets [3] - Continued emphasis on expanding the female consumer base and enhancing product offerings to cater to diverse demographics [10][11] This summary encapsulates the critical insights from the conference call, highlighting the company's strategic direction, market performance, and future opportunities within the toy and collectible industry.