Core Viewpoint - Jay Chou's IP is expanding into the card game sector with the launch of officially licensed collectible cards, marking a strategic move for the company in the collectibles economy [1][2]. Group 1: Product Launch and Sales - The collectible cards themed around Jay Chou's 25-year music career and "Carnival" tour are priced at 350 yuan per box, containing 50 cards, with a limited edition of 118,000 boxes [2][5]. - As of October 11, over 1,000 boxes have been sold within the first two days of pre-sale, indicating strong interest from fans [1][5]. - The product is being marketed primarily to Jay Chou's fanbase, with some fans purchasing multiple sets to boost sales [5][6]. Group 2: Company Background and Strategy - The company, Giant Star Legend, was founded in 2017 and is closely associated with Jay Chou, focusing on new retail and IP creation [1][8]. - Giant Star Legend aims to deepen its engagement with Jay Chou's IP and explore more character and content IP card development paths [2][8]. - The company has established a significant IP matrix, collaborating with over 200 authorized partners since the launch of the "Zhou Tongxue" IP in 2019, generating over 1 billion yuan in sales [8][10]. Group 3: Market Context and Comparisons - The collectible card market is experiencing growth, with active users in China increasing from 10 million in 2019 to 30 million in 2023 [6][10]. - Compared to broader IPs like anime and gaming, which dominate the card market, Jay Chou's celebrity IP cards represent a smaller segment, accounting for about 15%-20% of the market [6][10]. - The total release of 118,000 boxes for Jay Chou's cards is significantly lower than the 4.5 million packs released for the "Nezha" card series, which sold out in a week [5][6]. Group 4: Financial Performance and Market Reaction - Giant Star Legend reported a revenue of 355 million yuan in the first half of 2025, a 33% year-on-year increase, although the IP creation segment saw an 8.2% decline [8][9]. - The company's stock price has surged over 208% in the past 120 days, reflecting positive market sentiment towards its IP strategies [11].