记者丨 刘婧汐 编辑丨高梦阳 零食界的"泡泡玛特"也要上市了。 据港交所10月20日披露，广东金添动漫股份有限公司向港交所主板提交上市申请书，招商证券 国际、中国银河国际为联席保荐人。 | [编纂]的[编纂]數目 : | [编纂]股H股(視乎[编纂]行使與否而定) | | --- | --- | | [编纂]數目 : | [编纂]股H股(可予重新分配) | | [编纂]數目 " | [编纂]股H股(可予重新分配及視乎[编纂]行使與否 | | 而定) | | | 最高[編纂] : 每股H股[編纂]港元,另加1%經紀佣金、0.0027% | | | | 證監會交易徵費、0.00015%會財局交易徵費及 | | | 0.00565%聯交所交易費(須於[編纂時繳足,可 | | 予視還) | | | 面值 : | 每股H股人民幣1.0元 | | [猎膏] : [编纂] | | | 聯席保薦人 | | | 1 招商證券國際 | 中國銀河國際 CHINA GALAXY INTERNATIONAL | 儿童零食+ IP 所谓IP趣玩食品，即在传统零食中融入动漫元素包装，并附带玩具、徽章等小赠品的"儿童 向"零食产品形态。 比 ...

Core Viewpoint - The company, Guangdong Jintian Animation Co., Ltd., is preparing for an IPO on the Hong Kong Stock Exchange, aiming to become a significant player in the IP food market, similar to brands like Pop Mart and Miniso [1][12]. Company Overview - Jintian Animation specializes in children's snacks that incorporate popular IP elements, such as toys and badges, targeting a young audience [3][6]. - The company's revenue heavily relies on key IPs like Ultraman, My Little Pony, and Crayon Shin-chan, with the top five IPs contributing 90% of total revenue in 2022 [5][12]. Market Position - By 2024, Jintian Animation is projected to be the largest IP fun food company in China, holding a market share of 7.6% [13]. - The overall IP food market in China is expected to grow from RMB 354 billion in 2024 to RMB 849 billion by 2029, with a compound annual growth rate of 18.5% [12]. Financial Performance - The company has shown consistent revenue growth, with revenues of RMB 5.96 billion in 2022, RMB 6.64 billion in 2023, and projected RMB 8.77 billion in 2024 [14]. - Jintian Animation's gross margin is notably higher than other snack brands, reaching 33.7% in 2024, compared to 24.3% for Three Squirrels and 26.1% for Bestore [14][15]. Strategic Initiatives - The company plans to diversify its IP portfolio and enhance its product development capabilities through the IPO proceeds, which will also be used to expand sales networks and improve supply chain infrastructure [17]. - Jintian Animation aims to mitigate risks associated with reliance on external IPs by developing its own IPs and enhancing its design capabilities [9][8]. Sales Channels - The company has established a strong sales network, particularly in lower-tier cities, collaborating with various retail outlets, including supermarkets and convenience stores [10].

21世纪经济报道记者 刘婧汐 零食界的"泡泡玛特"也要上市了。 据港交所10月20日披露，广东金添动漫股份有限公司向港交所主板提交上市申请书，招商证券国际、中 国银河国际为联席保荐人。 据招股书，金添动漫是中国IP趣玩食品行业的开创者及领导者，目前主要业务为生产和销售IP趣玩食 品。截至2025年6月30日，公司在全国建有5大生产基地、拥有26个授权IP及超过600个活跃SKU，包括 糖果、饼干、膨化、巧克力、海苔零食五大产品类别。 儿童零食+IP 据招股书，公司合作的IP授权方来自日本、欧美、中国等不同国家和地区，已与授权IP建立长期稳定的 伙伴关系，最长合作年限超过15年。 但过度依赖外部IP授权存在一定风险。 在招股书中，金添动漫指出，目前公司全部产品都依托授权IP进行开发，其与IP所有者或者授权方的合 作通常并非独家的，这也使得其他公司也可以通过获得授权生产或者销售相似的IP趣玩产品。如果竞争 对手以更具竞争力的价格销售类似产品，会对其形成定价压力，损害其盈利能力和竞争优势。而如果竞 争对手推出更受青睐的产品，将对其业务、财务状况及经营业绩造成重大不利影响。 因此，在IP运营上，金添动漫计划进一步丰富 ...