Core Viewpoint - In 2025, the company will actively engage in multi-dimensional legal, technical, and channel-based actions to combat counterfeiting and illegal practices, demonstrating a "zero tolerance" attitude towards infringement [1][2] Legal Actions - The company will collaborate with market supervision departments across multiple provinces, including Guangdong, Zhejiang, Fujian, Henan, Jiangsu, and Shandong, to target counterfeiting and illegal sales [1] - It will utilize legal tools such as the Trademark Law and the Anti-Unfair Competition Law to effectively combat the entire chain of infringement activities [1] Technical Measures - The company has launched a "genuine product verification" feature on its official mini-program, allowing consumers to verify authenticity by entering a 16-digit anti-counterfeiting code [1] - Consumers can also check the original configuration of products to avoid the "box reconfiguration" trap, enhancing transparency and consumer confidence [1] Channel Strategies - The company will conduct simultaneous online and offline investigations into infringement, focusing on high-risk areas such as e-commerce platforms and wholesale markets [2] - It encourages consumers to purchase products through official channels and report suspected counterfeit activities via its mini-program [2] Commitment to Consumer Protection - The company emphasizes a commitment to protecting consumer rights and maintaining market order, stating that every act of infringement will be met with serious accountability [2] - Future efforts will include deepening collaboration with law enforcement and continuously improving the regular protection mechanism to ensure that all forms of infringement are addressed [2]

Group 1 - The 2026 New Year holiday period saw a bustling atmosphere in Yiwu International Trade City, with both domestic and international buyers actively shopping, indicating a strong consumer sentiment at the start of the year [3][4] - Orders for popular products, such as plush toys with auspicious meanings, have surged, with one vendor reporting an order exceeding 200,000 yuan, reflecting high demand and a robust supply chain response [6] - The influx of visitors during the holiday has led to a significant increase in sales, with one store reporting a 50% rise in sales compared to normal days, driven by social media recommendations [8] Group 2 - The Yiwu Import Commodity Museum showcased a variety of global products, attracting tourists eager to experience international shopping, highlighting the city's role as a global trade hub [11] - New product launches, such as the Aoki character and plush blind boxes, have generated considerable interest, with one pop-up store attracting over 600 visitors in a single morning, demonstrating the effectiveness of innovative marketing strategies [13] - The overall market sentiment in Yiwu is optimistic, with businesses preparing for a vibrant year ahead, as indicated by the enthusiasm from both consumers and vendors [13]

Core Insights - The article highlights the significant rise of the collectible toy industry, particularly driven by the success of Pop Mart's LABUBU, which has become a global phenomenon since 2024, leading to increased market interest and investment in the sector [2][5][8]. Company Performance - Pop Mart's LABUBU has contributed to a remarkable financial performance, with its revenue from the THE MONSTERS series exceeding 30 billion yuan in 2024, and the company achieving a market capitalization of over 330 billion HKD [5][8]. - The stock price of Pop Mart surged from below 10 HKD in Q4 2022 to 252.6 HKD by June 2025, marking an increase of over 24 times [5][8]. - Other companies in the collectible toy space, such as Blokku, have also seen significant stock price increases, with Blokku's stock rising 40.85% on its debut and reaching new highs [6][8]. Market Trends - The collectible toy market has grown nearly tenfold from 63 billion yuan in 2015 to 600 billion yuan in 2023, with projections estimating it will reach 1,101 billion yuan by 2026 [8]. - The main consumer demographic for blind box toys consists of individuals born in the 1990s and 2000s, who represent 78% of the market and exhibit strong purchasing power [8]. IP Development and Competition - The success of LABUBU is attributed to its unique design and the influence of celebrities, which has helped it break into mainstream culture [4][6]. - Companies are increasingly focusing on IP development, with Pop Mart and others needing to continuously innovate to avoid becoming obsolete [9][10]. - The competitive landscape is shifting, with companies like 52TOYS and KAYOU also exploring overseas markets and developing their own IPs to enhance their market positions [12][15]. International Expansion - Pop Mart's overseas revenue reached 50.66 billion yuan in 2024, a 375.2% increase, with Southeast Asia being the most lucrative market [14][15]. - Other companies, such as KAYOU and 52TOYS, are also expanding internationally, with plans to open stores in Hong Kong and Macau, and to establish a presence in North America and Southeast Asia [15]