China News Service, Hong Kong, December 11 (Reporter Shi Bingyun) China's largest trendy toy company Bubble Mart successfully listed in Hong Kong on the 11th. The opening price on the 11th was double the fixed price, which was 77.1 Hong Kong dollars and closed at 69 Hong Kong dollars. 7.3 billion Hong Kong dollars, with a market value of over 95 billion Hong Kong dollars at the close of the market.

　　Bubble Mart is a trendy toy company with IP operation as its core. It currently has the largest market share in the trendy play field and has the fastest growth.

As of June 30, 2020, there are 3.6 million registered members.

It is reported that the company currently operates 93 IPs, including 12 own IPs, 25 exclusive IPs and 56 non-exclusive IPs.

The most well-known and highest-selling IP is Molly, whose revenue contribution rate reached 32.9% in 2019.

　　Ye Shangzhi, chief strategist at First Shanghai Securities, said in an interview with a reporter from China News Agency that there are two main reasons for the hot market response.

First, the stocks that can be used in the Hong Kong stock market are relatively rare. People are very interested in entertainment consumer stocks like Bubble Mart.

Second, the founder of the company stated that the prospects are "same as Disney," and the market has high expectations for it.

　　Pao Mart’s joint global coordinator of the IPO, Chairman of Huaxing Capital Group and the founding partner of Huaxing New Economy Fund Bao Fan, said that Pao Mart has opened up a huge consumer market in the field of spiritual symbols for young people and expressed firm optimism about this market. prospect.

　　Associate Professor Zhuang Tailiang of the Department of Economics of the Chinese University of Hong Kong said that the concept of Bubble Mart cannot only be aimed at traditional "toy vendors". The "gambling" mentality of customers drawing "blind boxes" and opening capsules will continue to attract consumers.

　　It is reported that in 2019, the gross profit margin of Bubble Mart products in retail stores, online channels, and robot stores reached 60% or more than 70%.

　　Zhuang Tailiang pointed out that the main source of profit for Bubble Mart in the future is not physical toys, but the IP concept behind it.

The particularly popular "star" doll IP will have the opportunity to continuously derive different content, which can provide a continuous flow of funds.

"For example, Mickey Mouse and Donald Duck will produce a variety of business development models."

　　From 2017 to 2019, the net profit of Bubble Mart was 1.56 million yuan (RMB, the same below), 99.52 million yuan and 451 million yuan respectively.

Revenues were 158.1 million yuan, 514.5 million yuan, and 1.683.4 million yuan, respectively. The company was still losing money for the previous three years.

　　Ye Shangzhi pointed out that in the short term, the trendy play market craze led by Bubble Mart is still there, and there is no ceiling for the time being, but the long-term expansion of the scale still depends on the promotion of new IP, derivatives, and even various supporting products. Production to extend the life cycle of the product.

In addition, in the international market, Bubble Mart's products are not well-known in places other than the mainland. How to create products that meet the taste of the international market is the key to the company's development.

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