HK Stock Market Move | MNSO(09896) rose by more than 7%, the prosperity of the IP industry continues to rise. The company relies on global IP co-branding and rapid overseas expansion to grow rapidly.

MNSO (09896) rose more than 7%, rising by 7.02% at the time of publication to HKD 37.35, with a turnover of HKD 4.87 billion. On the news front, Cinda pointed out that in 2024, the trendy industry presents a dual-wheel drive feature of "domestic optimization + overseas outbreak". MNSO relies on global IP joint names, such as Disney, Sanrio, etc., to drive premiums, and relies on domestic market penetration in sinking markets, combined with accelerated overseas store expansion. The company's 2024 revenue increased by 23%, with domestic revenue increasing by 11% and overseas revenue by 42%. The bank expects the company's overseas store expansion to continue to grow in Q1 2025. In addition, according to the Ministry of Commerce website news on Thursday, Minister of Commerce Wang Wentao published an article titled "Vigorously Boost Consumption, Expand Domestic Demand in All Aspects, and Promote Continuous Improvement and Recovery of the Economy" in the "Flag" magazine, mentioning the creation of an IP creative design and new product release platform, construction of IP consumer business landmarks, launch of IP classic consumer routes, and expansion of immersive consumer spaces. Guosen indicated that the rise of domestic cartoons, the record high transaction volume of Xianyuguzi in the first quarter of 2025, and the continued upward trend in the prosperity of the IP grains industry, are optimistic about IP, operation, channels and other links.