Suplay tau tsim muaj nyob rau hauv 2019 thiab ua nws tus kheej raws li lub ntiaj teb no taw qhia IP sau thiab cov neeg siv khoom tuam txhab. Nws cov nyiaj tau los feem ntau yog los ntawm ob pawg loj: cov khoom siv thiab cov khoom siv.
**Suplay's Business Model**
Cov khoom sib sau ua ke yog qhov tseem ceeb ntawm Suplay txoj kev lag luam, suav nrog cov ntawv sau, cov khoom sib sau ua ke - ntsig txog cov khoom siv, thiab cov kev pabcuam. Hauv 2023, 2024, thiab thawj cuaj lub hlis ntawm 2025, lub tuam txhab cov khoom lag luam sau tau nyiaj tau los ntawm RMB 47.946 lab, RMB 117 lab, thiab RMB 198 lab, suav txog 32.9%, 41.8%, thiab 70.0% ntawm tag nrho cov nyiaj tau los. Cov nyiaj tau los tag nrho rau ntu no yog 57.9%, 65.4%, thiab 69.5%, feem. Nyob rau lub sijhawm no, kev muag khoom ntawm cov ntawv sau tau mus txog 1.56 lab, 2.7534 lab, thiab 4.5819 lab units, nrog cov nyiaj tau los nruab nrab ntawm ib chav muag ntawm RMB 31, RMB 42.3, thiab RMB 43, feem. (Qhov nruab nrab cov nyiaj tau los ntawm ib chav muag khoom yog xam raws li cov nyiaj tau los faib los ntawm cov pob khoom muag, nrog rau txhua pob sawv cev rau chav muag khoom tsawg kawg nkaus.)
**Suplay's Comprehensive Income Statement**
Kakavo yog Suplay tus kheej- cov hom lag luam, tau tsim tawm xyoo 2021, feem ntau tsom rau cov khoom sib sau ua ke, tsis yog- cov khoom siv sib ntaus sib tua. Cov ntawv tshaj tawm sau tseg tias Kakavo phaib tau muab tso rau hauv siab - cov khoom kawg, nrog cov nqi muag khoom feem ntau yog li ntawm RMB 59.9 txog RMB 89.9 ib pob. Raws li Frost & Sullivan, Kakavo yog thawj daim npav sau npe hauv Suav teb kom tau txais ntawv pov thawj los ntawm thoob ntiaj teb saum toj kawg nkaus -cov koom haum muab qhab nia xws li PSA, CGC, BGS, thiab SGC. Lub hom phiaj yog thawj zaug hauv tus kheej- tus nqi xa tawm ntawm Suav suav sau daim npav hom thiab thib peb thoob ntiaj teb ntawm cov npe tsis yog{11}} kis las sau daim npav hom, ua kom pom kev ua tau zoo hauv kev muab qhab nia.
Xyoo 2023, Suplay tau tshaj tawm Hobbycase, lub hom phiaj muab cov khoom siv sib sau ua ke thiab cov kev pabcuam, suav nrog cov khoom siv hauv daim npav, kev muab qhab nia, kev lees paub, thiab lwm yam kev pabcuam. Qhov kev pib no yog txhawm rau muab kev tiv thaiv thiab tso saib kev txhawb nqa rau daim npav sib sau ua ke, txhim kho lawv txoj kev nyab xeeb thiab lub sijhawm ntev - tus nqi.
** Cov nyiaj tau los ntawm ob lub lag luam loj **
Cov khoom siv tau tsim los ua kom tau raws li kev xav tau ntawm kev coj noj coj ua thiab kev lom zem txhua hnub, suav nrog ob qho khoom ua si trendy thiab IP derivatives. Raws li daim ntawv tshaj tawm, cov nyiaj tau los ntawm ntu no tau nce los ntawm RMB 97.779 lab hauv 2023 rau RMB 163 lab hauv 2024, sawv cev rau 67.1% xyoo-ntawm- xyoo nce. Txawm li cas los xij, hauv thawj cuaj lub hlis xyoo 2025, cov nyiaj tau los ntawm ntu no tau poob qis los ntawm 28.2% xyoo-rau- xyoo rau RMB 84.862 lab. Los ntawm 2023 txog 2024 thiab thawj ib nrab ntawm 2025, qhov kev lag luam no suav nrog 67.1%, 58.2%, thiab 30.0% ntawm tag nrho cov nyiaj tau los, feem, nrog cov nyiaj tau los tag nrho ntawm 33.7%, 31.8%, thiab 19.3%. Kev muag khoom yog 2.4704 lab, 4.5671 lab, thiab 2.8838 lab units, nrog cov nyiaj tau los nruab nrab ntawm ib chav muag ntawm RMB 39.4, RMB 46, thiab RMB 29.4, raws li.
Nws yog ib qho tsim nyog sau cia tias Suplay cov khoom ua si trendy hom, Heyfans, tau txais hauv 2021. Nws cov khoom lag luam suav nrog cov duab, cov duab me me, thiab cov khoom ua si plush, xws li OHO Txiv ntxawm Refined Life Mini Figurine Series thiab Genshin Impact Natlan Young Dragon Mini Figurine Series. Lub npe IP derivatives, Letao Valley, tau tsim nyob rau xyoo 2021 thiab feem ntau tsim cov khoom Letao, suav nrog cov khoom ua si plush, cov hnab ntim khoom, cov khoom siv acrylic, cov khoom siv hlau, daim pib laser, thiab phau ntawv sau, nrog rau cov ntawv muag khoom muag - nkag- qib daim npav khoom tsim rau kev lag luam loj.
**Suplay's Ob Qhov Nyiaj Tau Los Loj **
** Muag Direct + Distribution Tsim kom muaj Channel Network **
Suplay ncav cuag cov neeg siv khoom los ntawm ntau-channel network sib txuas cov khw muag khoom offline, e- kev lag luam, thiab kev lag luam hauv zej zog, ua kom muaj kev sib txuas tsis sib haum nyob rau ntau qhov xwm txheej.
Raws li daim ntawv tshaj tawm, Suplay's channel network tau muab faib ua cov khoom muag ncaj qha thiab muag rau cov neeg xa khoom. Cov kev muag ncaj qha suav nrog WeChat Mini Programs, e- kev lag luam platforms, thiab lwm yam, ua txoj hauv kev rau lub tuam txhab cov khoom lag luam kom ncav cuag cov neeg siv khoom ncaj qha. Hauv 2023, 2024, thiab thawj cuaj lub hlis ntawm 2025, lub tuam txhab tau tsim cov nyiaj tau los ntawm RMB 37.736 lab, RMB 51.168 lab, thiab RMB 72.864 lab los ntawm kev muag khoom ncaj qha, suav txog 25.9%, 18.2%, thiab 25.7% ntawm tag nrho cov nyiaj tau los hauv lub sijhawm.
Tshwj xeeb tshaj yog, Suplay ua haujlwm ntau yam WeChat Mini Programs raws li nws cov khw muag khoom digital, feem ntau tsom mus rau ntiag tug. Raws li lub Cuaj Hlis 30, 2025, Cov Kev Pabcuam Mini no tau nce kwv yees li 1.3 lab tus tswv cuab. Hauv 2023, 2024, thiab thawj cuaj lub hlis ntawm 2025, cov nyiaj tau los ntawm WeChat Mini Cov Kev Pabcuam yog li RMB 20.878 lab, RMB 33.798 lab, thiab RMB 47.84 lab, suav txog 14.3%, 12.0%, thiab 16.9% ntawm tag nrho cov nyiaj tau los hauv lub sijhawm. Daim ntawv tshaj tawm qhia tau hais tias lub tuam txhab cov khoom khaws cia tau khaws cov kiv cua tseem ceeb, nrog rau cov neeg siv khoom muaj zog muaj kev ntseeg siab tau tshwm sim nyob rau hauv cov nyiaj rov qab tsis tu ncua. Hauv 2023, 2024, thiab thawj cuaj lub hlis ntawm 2025, tus nqi rov qab rau cov khoom sau los ntawm WeChat Mini Programs yog 76.6%, 77.6%, thiab 78.5%, feem.
E- lag luam platform flagship khw muag khoom xa mus rau cov khw muag khoom lag luam uas ua los ntawm lub tuam txhab ntawm cov lag luam hauv Suav teb loj e- xws li Tmall, Xiaohongshu, thiab Douyin. Hauv 2023, 2024, thiab thawj cuaj lub hlis ntawm 2025, cov nyiaj tau los ntawm e- kev lag luam platforms tau mus txog RMB 8.455 lab, RMB 12.476 lab, thiab RMB 22.636 lab, suav txog 5.8%, 4.4%, thiab 8.0% ntawm tag nrho cov nyiaj tau los nyob rau lub sijhawm.
** Ntau hom ntawv sau los ntawm Suplay **
Distributors sawv cev rau Suplay qhov tseem ceeb tshaj plaws ntawm cov nyiaj tau los. Leveraging distributors 'kev muag khoom raws thiab kev lag luam kev lag luam, lub tuam txhab muaj peev xwm nthuav dav nws txoj kev lag luam sai thiab txhim kho cov khoom siv tau zoo. Raws li daim ntawv tshaj tawm, lub tuam txhab muaj 156, 506, thiab 479 tus neeg xa khoom hauv 2023, 2024, thiab thawj cuaj lub hlis ntawm 2025, raws li. Cov nyiaj tau los ntawm cov neeg xa khoom tau txais RMB 108 lab, RMB 229 lab, thiab RMB 210 lab nyob rau lub sijhawm no, suav txog 74.1%, 81.8%, thiab 74.3% ntawm tag nrho cov nyiaj tau los.
