Core Insights - The collaboration between KAYOU and Fanatics Collectibles aims to launch the NBA Match Attax 2025 series in the Chinese market, marking a significant step in Fanatics' global strategy [1][2] - The NBA Match Attax 2025 series will be sold through various online and offline channels, with two packaging options priced at 10 RMB and 20 RMB, targeting a broader audience rather than just hardcore sports fans [2][3] Company Overview - Fanatics Collectibles, a subsidiary of Fanatics Inc., focuses on producing and selling sports trading cards and memorabilia, and its entry into the Chinese market is crucial given the large NBA audience in the country [2] - KAYOU's partnership with Fanatics is a strategic move to enter the sports IP card market, which is expected to enhance its product line despite potential short-term profit limitations due to licensing costs [2][3] Market Context - The trading card market has historical significance and has seen a surge in popularity, particularly with the rise of emotional consumption and new sales formats like live streaming and blind boxes [5][6] - The Chinese trading card market is currently lukewarm, lacking prominent manufacturers and a mature secondary market, which presents both challenges and opportunities for new entrants [5][6] Strategic Implications - KAYOU's entry into the trading card sector is part of its broader transformation strategy following challenges in its IPO process, aiming to diversify its product offerings and reduce reliance on single IPs [8][9] - The collaboration with Fanatics could help KAYOU distance itself from its previous low-age blind box image and tap into a potentially lucrative new market [9]