进入2026年，"爱你老己"一词在全网走红。越来越多的年轻人在快节奏的生活中选择悦纳自己，为情绪买单，为快乐付费。"悦己消费"迅速成为消费市场 的重要增长极。 2025年，情绪消费表现如何？新的一年，情绪消费市场又有哪些新动向？ 从盲盒潮玩到"悦己"旅游 情绪价值拓展多元赛道 元旦假期，全国文旅消费市场热度持续攀升。从"销假游"的错峰出行，到"跨年游"的沉浸式体验，再到"冰雪游"的季节特色，"悦己游""仪式感跨年""南北 互换"等成为新年消费新趋势。 当物质生活丰裕之后，人们对情感归属、尊重和自我实现的需求愈发凸显。"情绪消费"的兴起，正是这一社会心态变迁的反映。尤其是在学业、就业等多 重压力交织的当代社会，为情绪价值买单，俨然成为许多人舒缓压力、滋养心灵的"减压阀"。 越来越多的消费人群选择"悦己"型消费，就是满足情绪价值的典型表现之一。从抢购潮玩、观看演唱会到参与深度冰雪游，"悦己"风潮已渗透消费市场各 层面。以刚过去的元旦假期为例，在线旅游平台报告显示，"00后"出游人群占比最高，他们不再满足于传统观光，而是将假期视为实现"悦己"的重要场 景。 据报道，我国情绪消费市场规模快速攀升，从2022年1.63 ...

52TOYS此次也带来旗下四大潮流IP——NOOK、CiCiLu、PoukaPouka、NINNIC。NOOK作为52TOYS 的明星IP之一带来两款新品；PoukaPouka则以温暖治愈的风格深受玩家喜爱；52TOYS还推出 PoukaPouka雪宝宝和一起滑雪吧两款搪胶毛绒产品。 北京商报讯(记者赵述评)12月12日至14日，QDF X ADTS北京国际艺术设计玩具展览会在北京国家会议 中心举办，52TOYS以"欢迎登陆52TOYS愿望岛"为主题，携旗下四大热门潮流IP及全新成员LITTLE BUNS亮相。 首次亮相的LITTLE BUNS由艺术家三山创作，系列角色都有着胖乎乎的小馒头脸，传递爱与陪伴，饼 饼兔和面面熊是其中重要角色。由于经历了一段时间的沉寂，该系列被潮玩爱好者视为"白月光"般的存 在。有业内人士预测，在52TOYS全产业链布局和全球化销售渠道的加持下，LITTLE BUNS有望实现更 高的辨识度和长线生命力。 52TOYS从2024年起开始加码自有IP的储备，2025年相继推出CiCiLu、Pouka Pouka、NINNIC三大全新 潮流IP，而此次亮相的LITTLE BUNS，进一步 ...

本报讯 （记者李豪悦）12月14日，"QDF X ADTS北京国际艺术设计玩具展览会"（以下简称"QDF"）在 北京落幕，潮玩品牌北京乐自天成文化发展股份有限公司（以下简称"52TOYS"）携旗下四大热门潮流 IP及全新成员LITTLE BUNS亮相。 除了新成员LITTLE BUNS，52TOYS此次也带来旗下四大潮流IP：NOOK、CiCiLu、PoukaPouka、 NINNIC。一直以来，52TOYS坚持依据IP特点打造不同产品，凸显和阐释每个IP的内核。 作为国内IP玩具领域的佼佼者，52TOYS从2024年起开始加码自有IP的储备，在全球范围内发掘了多个 优质IP。2025年，52TOYS相继推出CiCiLu、Pouka Pouka、NINNIC三大全新潮流IP，而此次亮相的 LITTLE BUNS，进一步验证了52TOYS作为头部IP运营平台，对于优质IP的强大吸引力。这些新IP陆续 推向市场，进一步丰富了52TOYS的自有IP矩阵。 本次QDF潮玩展，52TOYS不仅持续发酵CiCiLu、NOOK等IP的魅力，更通过新成员LITTLE BUNS的惊 喜亮相，为自身品牌及潮玩市场注入新鲜活力。从 ...

Core Insights - The article highlights the significant growth of Chinese潮玩 (trendy toys) brands in overseas markets, particularly by泡泡玛特 (Pop Mart), which reported substantial revenue increases across various regions in Q3 2025 [1][4] - The trend of self-owned IPs going global is emphasized, with companies focusing on their own intellectual properties rather than licensed ones [1][4] Group 1: Revenue Growth - In Q3 2025,泡泡玛特's overseas revenue in the Asia-Pacific region grew by 170% to 175%, in the Americas by 1265% to 1270%, and in Europe and other regions by 735% to 740% [1] - The overall export of toys from China, including trendy toys, exceeded 500 billion yuan in the first three quarters of 2025, reaching over 200 countries and regions [1] Group 2: Self-Owned IP Expansion -潮玩 brand HERE奇梦岛 has accelerated the international expansion of its self-owned IPs like WAKUKU and SIINONO, successfully launching multiple pop-up stores in Dubai, Indonesia, and Thailand [2] - 52TOYS showcased its self-owned IPs at major international exhibitions, with its变形机甲猛兽匣 series gaining significant attention and sales in overseas markets [2][3] Group 3: Market Strategy and Localization - The transition from "product export" to "brand export" is noted, indicating a shift towards exporting IP, culture, and complete consumer experiences [4] - HERE奇梦岛 emphasizes the importance of deep localization for emotional resonance, which includes understanding local cultural symbols and social habits [5]

Core Insights - The Chinese潮玩 (trendy toy) market has experienced explosive growth, with market value increasing from 6.3 billion yuan in 2015 to 60 billion yuan in 2023, and projected to reach 110.1 billion yuan by 2026 [2][3] - The rise of Labubu has significantly influenced the潮玩 industry, attracting more consumers and capital, while also leading to increased competition among brands [2][3][4] - The潮玩 market is characterized by a shift from materialistic consumption to emotional and social value, with consumers seeking identity recognition and emotional connection through潮玩 products [1][4] Market Dynamics - The潮玩 market is becoming increasingly crowded, with new brands emerging and competition intensifying as established players like泡泡玛特 dominate [2][4] - The top five潮玩 IP companies hold only 20.8% of the market share, indicating a fragmented industry with no clear monopoly [4][5] - The trend of emotional connection and companionship is becoming central to潮玩 design, with companies focusing on creating relatable and emotionally resonant IPs [5][6] Investment and Mergers - Significant mergers and acquisitions have occurred in the潮玩 sector, including量子之歌 acquiring 61% of Letsvan and万达电影 investing 144 million yuan in 52TOYS [3][4] - The influx of capital and interest in潮玩 is expected to drive further industry development, although it may also lead to resource concentration on popular IPs [3][4] Consumer Behavior - The consumer base for潮玩 is expanding, with increased accessibility through various retail channels, including online platforms and physical stores [2][3] - Social media plays a crucial role in shaping潮玩 culture, with platforms facilitating community engagement and content creation around潮玩 products [3][6] Future Trends - Companies are increasingly focusing on self-developed IPs, with plans to enhance their proprietary product offerings [5][6] - The潮玩 industry is exploring innovative marketing strategies, including collaborations with celebrities and immersive experiences to enhance consumer engagement [6][8] - Despite the growth, the潮玩 market is still perceived as niche, with ongoing challenges in reaching broader consumer demographics beyond urban centers [8][9]

Group 1 - 52TOYS showcased three new proprietary trendy IPs, CiCiLu and PoukaPouka, at the "2025 TOY HEART EXPO," enhancing its product matrix alongside the previously launched NOOK [1] - Since 2019, 52TOYS has been continuously developing its proprietary trendy IPs, including NOOK, Sleep, and Lilith, and plans to have 35 proprietary IPs by the end of 2024 [1] - The company has also established a sci-fi IP called "Beast Box" and a cultural IP named "Super Activation," indicating a diverse portfolio [1] Group 2 - 52TOYS emphasizes the diversity and differentiation of IP styles, creating various products based on the characteristics of each IP, which include static dolls, movable dolls, wind-up toys, transforming mechas, assembly toys, plush toys, and derivative peripherals [2] - By the end of 2024, 52TOYS will have 80 licensed IPs and has formed long-term stable partnerships with internationally recognized IPs like Disney, while also focusing on nurturing its proprietary IPs across trendy, sci-fi, and cultural categories [2] - The company announced the creation of a content ecosystem for the "Beast Box" IP, which includes novels, comics, and animations, facilitating cross-industry value-added opportunities [2]

Core Viewpoint - 52TOYS is projected to achieve a revenue of 630 million RMB and a net profit of approximately 30 million RMB in 2024, indicating growth in its financial performance [1][2]. Financial Performance - Revenue for 52TOYS from 2022 to 2024 is reported as 463 million RMB, 482 million RMB, and 630 million RMB respectively, while net losses are recorded at 1.71 million RMB, 71.93 million RMB, and 122 million RMB [2][3]. - Adjusted net profit (non-IFRS) shows a recovery from -56.75 million RMB in 2022 to 32.01 million RMB in 2024, reflecting a positive trend [4][12]. - The gross profit margin for 2024 is 39.9%, with a notable increase in gross profit from 133.65 million RMB in 2022 to 251.53 million RMB in 2024 [12][14]. Revenue Sources - The majority of 52TOYS' revenue comes from licensed IP, contributing 64.5% of total revenue in 2024, while self-owned IP sales are 1.54 billion RMB [6][10]. - The company has developed and operates 35 self-owned IPs, with significant contributions from popular IPs like Sleep and Beast Box [8][10]. Market Position - The IP derivative market in China is projected to grow from 174.2 billion RMB in 2024 to 335.7 billion RMB by 2029, with the IP toy market expected to reach 756 billion RMB in 2024 [6]. - 52TOYS ranks third among Chinese IP toy companies and second among multi-category IP toy companies based on GMV in 2024 [17]. Sales Channels - 52TOYS primarily relies on distributors for sales, with distributor sales accounting for 66.8% of total revenue in 2024, while direct sales contribute only 30.9% [15][16]. - The company has expanded its sales channels to Southeast Asia, Japan, South Korea, and North America, with domestic revenue making up 76.6% of total revenue in 2024 [17][18]. IP Licensing and Costs - 52TOYS has invested over 100 million RMB in licensing fees for IPs over the past three years, with significant upcoming expirations for major IPs like Disney and Crayon Shin-chan [10][13]. - The cost of goods sold for 52TOYS' products has been increasing, with a notable rise in costs associated with licensed IP [14].