Purchase suggestions:

The company is an intellectual property company whose business includes the creation, design and licensing of its own, own and iconic B.Duck family roles across multiple channels, the company manages and markets the IP, and the image of B.Duck ducklings is used in different product categories. Including home, bathroom, kitchen, stationery, electronic products, holiday gifts, clothing, accessories and personal care products for infants and young children, the products are exported to many European countries and are well-known in Europe, Japan and other places. The company authorizes the B.Duck family role and brand to the licensee, and provides product design application services to enable customers to use this role on a variety of products. The company designs and creates a wide range of products covering different consumer industries, and has developed more than 25000 SKU. The company also sells products featuring B.Duck family roles through online channels (such as Tmall's flagship store) and offline sales channels. It has received more than 1050 followers on major e-commerce platforms and online social media platforms (including more than 3.6 million followers of Weibo Corp, more than 3.5 million followers of Tmall, more than 1.0 million followers of Facebook Inc and more than 0.9 million followers of Vipshop Holdings Limited). The company's business model covers the entire value chain of role brand business, including role design and development, role authorization, role-based product promotion and role promotion and marketing. The company's revenue increased from HK $200 million in 2018 to HK $233 million in 2020. Net profit increased from HK $9.9 million in 2018 to HK $5450 in 2020. The post-IPO valuation of the company is about HK $3.45 billion, which currently corresponds to about 70 times the dynamic PE in 2021, which is higher than the market average. We believe that the audience of the products developed by the company is too small, with only more than 10 million followers, and the IP update iteration cycle is very fast, and if it is out of date, it will face weak revenue growth, so we suggest that you apply carefully.