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名创优品(09896):Q2盈利能力环比改善,发力自有IP矩阵
HUAXI Securities· 2025-08-25 11:41
公司发布 2025 上半年业绩公告。2025H1 公司实现营业收入 93.9 亿元,同比增长 21.06%,实现 净利润 9.06 亿元,同比下滑 23.1%,实现经调整归母净利润 12.8 亿,同比增长 3%。2025Q2 公司 实现营业收入 49.66 亿元,同比增长 23%,实现净利润 4.9 亿元,同比下降 16.67%,实现经调整 净利润 6.9 亿元,同比增长 10.6%。调整项主要包含收购永辉股权的银行贷款的利息开支、与股 票挂钩证券有关的利息开支以及分占永辉亏损等。 ► 25Q2 收入增长环比提速,国内及海外同店持续向好 证券研究报告|港股公司点评报告 [Table_Date] 2025 年 08 月 25 日 [Table_Title] Q2 盈利能力环比改善,发力自有 IP 矩阵 [Table_Title2] 名创优品(9896.HK) | [Table_DataInfo] 评级: | 增持 | 股票代码: | 9896 | | --- | --- | --- | --- | | 上次评级: | 增持 | 52 周最高价/最低价(港元): | 51.05/25.05 | | 目标价格(港元 ...
TOP TOY获淡马锡领投新一轮融资:估值约100亿港元,不断强化自有IP矩阵
IPO早知道· 2025-08-22 00:49
Core Viewpoint - The潮玩 industry remains vibrant, with TOP TOY achieving significant growth and attracting investment, indicating a strong market presence and potential for future expansion [4]. Group 1: Business Performance - In Q2 of this year, TOP TOY reported revenue of 400 million yuan, representing a year-on-year growth of 87.0%, with a total of 293 stores [6]. - TOP TOY has launched over 170 new products globally in the first half of the year, enhancing its product competitiveness and brand influence [6]. - The company has introduced its own IP, Nommi, into its portfolio, joining existing original IPs like卷卷羊, thereby strengthening its IP asset library [6]. Group 2: IP Development - TOP TOY established a joint venture with HITOY to operate IPs like Nommi and Maymei, focusing on unique character designs and storytelling [6]. - Nommi features a healing style with a unique movable eye structure, while Maymei embodies optimism and resilience, appealing to diverse consumer preferences [6][7]. - Since its launch in 2024, the combined global sales of Nommi and Maymei have exceeded 100 million yuan, with Nommi consistently ranking among the top three in sales for TOP TOY's rubber plush series [7]. Group 3: Future Strategy - TOP TOY aims to continue leveraging differentiated products and deep IP operations to attract a loyal and high-spending customer base [7]. - The company is focused on promoting the "Chinese潮玩 paradigm" globally and enhancing the潮玩 industry ecosystem, solidifying its position as a leader in the潮玩 sector [7].