Core Viewpoint - The company emphasizes its dual-brand strategy, focusing on adult casual wear under the Semir brand and children's clothing under the Balabala brand, while enhancing emotional connections with consumers through IP collaborations [1] Brand Strategy - The company operates two major brand clusters: Semir for adult casual wear and Balabala for children's clothing [1] - Each brand tailors its approach based on brand positioning and consumer profiles, integrating IP resources for deeper consumer engagement [1] IP Management - An internal IP full-cycle management system has been established, overseeing key processes from IP introduction to product development and sales [1] - In 2023, the Semir brand launched a co-branded product with the popular game "Honor of Kings" [1]