Core Viewpoint - The collaboration between Alibaba's Aiyu and Sanrio is driving significant revenue growth for both companies, particularly in the Chinese market, with strong performance in licensing and IP authorization. Group 1: Company Performance - Damai Entertainment (01060) saw its stock price increase by 7.08%, reaching HKD 1.21, with a trading volume of HKD 2.32 billion [1] - Sanrio reported a revenue of RMB 376 million in Q1 of FY2026 for its China operations, marking a 120% year-on-year increase [1] - The licensing revenue for Sanrio in China was RMB 251 million, reflecting a 158% year-on-year growth [1] Group 2: Strategic Partnerships - CITIC Securities noted that the partnership between Aiyu and Sanrio has positively impacted both companies' performance [1] - The collaboration is expected to contribute over 50% of Aiyu's revenue in FY2025 [1] - Sanrio's strong performance in China and its emphasis on the significant contribution from this market indicate a solid and beneficial partnership with Aiyu, focusing on long-term operations and steady growth [1] Group 3: Marketing and Future Prospects - Aiyu's marketing initiatives for Sanrio are expected to enhance the development and operation of other collaborative IPs such as Chiikawa, Crayon Shin-chan, and Universal Studios in China [1] - The successful execution of events like "Hi Fan Festival" and "Super Product Day" demonstrates the effective online and offline activities being carried out [1] - The partnership is likely to lead to the signing of more new IPs, further strengthening the company's licensing business [1]