Group 1 - MINISO FRIENDS opened its first store in South China, located in Shenzhen, aiming to create a new landmark for youth culture through immersive IP experiences [2] - The store features a unique "Right Right Sauce" glass window and various interactive installations, integrating popular global IPs such as Disney and Harry Potter [2] - MINISO's latest financial report indicates a total revenue of 4.97 billion yuan in Q2, representing a year-on-year growth of 23.1%, with a gross margin of 44.3%, up 40 basis points from the previous year [2] Group 2 - Shenzhen is promoting consumption upgrades through the "first store economy," with trendy toys becoming a significant aspect of this initiative [2] - Jin Guanghua Plaza has introduced 21 first-store brands, including high-traffic toy brands like WANGXIAOBEN and TOP TOY [3] - Shenzhen leads the nation in the toy industry, housing over 3,000 toy-related companies, which account for 14.4% of the total number of toy enterprises in China, forming a complete industry chain from design to export [3]

Group 1: Event Overview - The well-known anime IP "I Am Not a Free Lunch" held a successful signing event at Ningbo Yinzhou Wanda Cool Play MONMMA store, marking a collaboration with the trendy toy brand "TT" to celebrate the back-to-school season [1] - The event featured interactive sessions with fans, showcasing the signature character of "I Am Not a Free Lunch" and creating an engaging atmosphere [1] - The MONMMA store was transformed into a themed pop-up space, displaying various co-branded products such as plush toys, trendy accessories, stationery, and mystery blind boxes, attracting a large number of students and young families [1] Group 2: Market Growth - The trendy toy industry in China has experienced explosive growth, with the market size increasing from 6.3 billion yuan in 2015 to 60 billion yuan in 2023, and is expected to exceed 110.1 billion yuan by 2026, reflecting a compound annual growth rate of over 20% [1] - The global market reached 31.2 billion USD in 2022 and is projected to grow to 44.8 billion USD by 2024, with the adult collector market contributing significantly to this growth [1] Group 3: Company Strategy and Performance - Chuangyuan Co., Ltd. has established a clear strategic positioning in the IP economy, focusing on cultural output and consumption upgrades as dual driving forces for transformation [2] - The company reported a 40% year-on-year revenue growth and a 218% surge in net profit in Q1 2025, validating the effectiveness of its strategic transformation [2] - The launch of the trendy toy brand "TT" and the collaboration with the popular IP "I Am Not a Free Lunch" have garnered significant market attention, with the company's stock price increasing nearly 60% in August and over 140% year-to-date, resulting in a market capitalization exceeding 6 billion yuan [3]