According to the Financial News on January 3 (Editor Hu Jiarong), today's Hong Kong stocks continued to fluctuate, but some individual stocks reached new highs in nearly a year, such as MINISO, which has been strong since the beginning of the year. As of the time of reporting, it has risen by 9.71% to 52.55 Hong Kong dollars.

The recent rise of MINISO may be related to the IP collaboration behind it. According to reports, MINISO recently announced a partnership with the popular game "Black Myth: Wukong," which will jointly launch co-branded products expected to be released in 2025.

MINISO benefits from the "millet economy."

In recent years, the "millet economy" has been flourishing, and MINISO, as a globally renowned IP design retail giant, has precisely grasped this opportunity and reaped the benefits. It has now established deep cooperation with over 150 well-known IP brands, covering popular fields such as animation, film, and gaming, skillfully integrating various popular IP elements into everyday consumer products.

The latest earnings report indicates that MINISO performed remarkably in the third quarter, with revenue reaching 4.523 billion yuan, a 19.3% increase compared to the same period last year; profit for the same period reached 0.648 billion yuan, with a year-on-year increase of 4.9%.

Speaking of future plans, MINISO's founder Ye Guofu is full of confidence. In his view, the market for IP consumer products has huge potential and is a vast trillion-level blue ocean. MINISO's IP strategy is perfectly timed, and the prospects are limitless.

It is worth mentioning that the collaboration with MINISO on "Black Myth: Wukong" has also garnered significant attention. Since its launch on the Steam platform, it has successfully surpassed 23 million copies.

What do Institutions think about the "Millet Economy"?

In 2024, IP-related products continue to maintain high popularity. From the My Little Pony card game in the first half of the year to the millet stores and Jellycat pop-up stores since Q3, they have all maintained high levels of attention and there is strong market demand.

China Galaxy Securities pointed out that creating Intellectual Property (IP) is central to the "core" and trendy consumer products, where the influence of IP plays a crucial role in attracting fans and integrating multiple business formats. As a key to accumulating users and breaking boundaries for products, high-quality IP can better attract consumers and extend the product lifecycle. Therefore, in the current market, where attention is high and demand is strong, the prosperity of high-quality IP products is expected to be maintained.

Kyg Securities also pointed out that the essence of the "Millet Economy" is the recognition and emphasis on the influence of young consumers on Consumer trends. The subsequent consumer segments with a large young audience will maintain a high level of Topics. To cater to young consumers’ preferences, traditional retailers are accelerating their transformation to introduce second-dimensional formats to attract young traffic. As of October 2024, nearly 130 national layouts and preparations for related formats have been made, among which representative projects like Bailian ZX and Fun Bar District have achieved good results in their transformation.