Strong Revenue Growth
Total revenue reached RMB 127.1 million, with the pop toy business growing 93.3% quarter-over-quarter from RMB 65.8 million, exceeding previous guidance.
Gross Margin Improvement
Gross margins expanded to 41.2%, up from 34.7% in the previous quarter, reflecting improved profitability.
Successful Strategic Partnerships
Established a strategic partnership with Beijing Radio and Television Station, participated in the China Open, and collaborated with top entertainment shows and urban development projects.
International Market Expansion
Momentum in international markets with established distribution networks in around 20 countries, including North America, Europe, Southeast Asia, and the Middle East.
Operational Efficiency
Operating expenses as a percentage of revenue decreased, with sales and marketing expenses dropping to 21.7% from 29% and R&D expenses to 12.5% from 13.5%.