8锟斤拷19锟秸ｏ拷锟斤拷锟捷拷锟截囷拷锟紿锟斤拷锟紽锟絣锟斤拷2025锟斤拷锟斤拷锟斤拷財锟斤拷锟紷示锟斤拷锟较帮拷锟斤拷锟斤拷锟捷拷锟截營锟斤拷138.8锟絴元锟斤拷锟斤拷锟斤拷牛锟斤拷锟酵拷锟斤拷锟酵拷锟斤拷锟斤拷L204.4%锟斤拷锟斤拷锟絳锟斤拷锟斤拷锟斤拷锟斤拷47.1锟絴元锟斤拷同锟斤拷锟斤拷锟絃362.8%锟斤拷锟斤拷锟斤拷I锟斤拷突锟狡百億锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷2024全锟疥，锟斤拷锟紽锟絀锟斤拷锟劫勶拷锟铰高ｏ拷锟斤拷項斤拷锟絀指锟剿憋拷锟紽锟斤拷锟斤拷锟斤拷

锟紷锟斤拷锟斤拷锟捷拷锟斤拷全锟斤拷M锟斤拷锟杰橈拷锟絳锟斤拷锟斤拷锟斤拷追锟截旓拷锟斤拷状锟斤拷锟铰讹拷锟斤拷袊锟斤拷锟斤拷锟教拷锟街革拷袊锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟睫硷拷锟斤拷锟斤拷锟睫囷拷锟揭和地區锟斤拷锟斤拷锟斤拷锟睫和歐锟睫硷拷锟斤拷锟斤拷锟截區锟侥达拷^锟斤拷I锟斤拷锟斤拷锟叫囷拷锟絀锟斤拷82.8锟絴元锟斤拷同锟斤拷锟斤拷锟絃135.2%锟斤拷锟斤拷太锟絀锟斤拷28.5锟絴元锟斤拷同锟斤拷锟斤拷锟絃257.8%锟斤拷锟斤拷锟睫營锟斤拷22.6锟絴元锟斤拷同锟斤拷锟斤拷锟絃1142.3%锟斤拷锟絎锟睫硷拷锟斤拷锟斤拷锟截區锟絀锟斤拷4.8锟絴元锟斤拷同锟斤拷锟斤拷锟絃729.2%锟斤拷锟侥达拷^锟斤拷I锟斤拷锟斤拷锟斤拷锟紽锟斤拷锟斤拷位锟斤拷锟斤拷锟絃锟斤拷锟斤拷锟斤拷锟斤拷锟劫筹拷十锟斤拷锟斤拷锟斤拷锟紿锟斤拷锟斤拷锟斤拷迎锟斤拷锟斤拷輪锟斤拷锟絣锟斤拷

锟斤拷锟斤拷全锟斤拷锟絀锟饺的筹拷锟斤拷锟侥伙拷锟绞橈拷锟斤拷锟紽锟斤拷IP锟斤拷锟斤拷锟絚锟絓锟絀始锟終锟斤拷锟斤拷锟捷拷锟截發展锟侥猴拷锟侥勶拷锟斤拷锟斤拷锟较帮拷锟斤拷锟斤拷锟捷拷锟斤拷锟斤拷锟斤拷锟絋锟斤拷IP锟秸獲锟斤拷锟斤拷锟剿氣，LABUBU锟斤拷锟节碉拷THE MONSTERS锟絀锟斤拷48.1锟絴元锟斤拷占锟斤拷34.7%锟斤拷MOLLY锟斤拷SKULLPANDA锟斤拷CRYBABY锟斤拷DIMOO锟絀锟秸撅拷突锟斤拷10锟絴元锟斤拷13锟斤拷藝锟絞锟斤拷IP锟斤拷锟斤拷锟狡億锟斤拷IP锟斤拷锟斤拷锟斤拷l锟斤拷元锟斤拷锟斤拷锟斤拷锟较帮拷锟疥，毛锟絨品類營锟斤拷61.4锟絴元锟斤拷锟斤拷锟斤拷占锟斤拷锟阶次筹拷锟絕锟斤拷锟絢锟斤拷锟絘品锟斤拷锟铰烇拷I锟斤拷锟斤拷锟斤拷锟斤拷锟絃注锟诫強锟脚勶拷锟杰ｏ拷 锟狡勶拷锟斤拷锟捷拷锟截成烇拷锟斤拷锟斤拷_锟脚帮拷锟捷碉拷全锟斤拷IP平锟絖锟斤拷

锟組锟絭全锟斤拷知锟斤拷锟截橈拷 锟侥达拷^锟斤拷锟斤拷锟斤拷F锟斤拷锟絣锟斤拷锟絃

2025锟较帮拷锟疥，锟斤拷锟捷拷锟斤拷锟斤拷英锟斤拷锟斤拷锟斤拷印锟斤拷锟斤拷锟絬锟饺地橈拷锟斤拷位锟斤拷锟絖锟絆锟斤拷锟阶硷拷锟絋锟疥，锟斤拷锟絤锟組锟絭全锟斤拷知锟斤拷锟截標★拷锟斤拷锟斤拷6锟斤拷30锟秸ｏ拷锟斤拷锟捷拷锟斤拷锟斤拷全锟斤拷18锟斤拷锟斤拷锟斤拷锟絖锟絆锟剿癸拷571锟斤拷锟絋锟疥，锟斤拷锟叫撅拷锟斤拷锟絋锟斤拷锟斤拷锟斤拷40锟揭ｏ拷锟紺锟斤拷锟斤拷锟教碉拷锟斤拷锟斤拷105锟絖锟斤拷

2025锟斤拷4锟铰ｏ拷锟斤拷锟捷拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷全锟斤拷M锟斤拷锟杰橈拷全锟斤拷锟斤拷锟斤拷锟斤拷锟阶达拷锟斤拷锟侥达拷^锟斤拷锟絆锟斤拷锟剿區锟津總诧拷锟斤拷锟斤拷锟紿锟斤拷锟斤拷锟皆诧拷锟斤拷锟筋化锟斤拷锟叫囷拷锟叫堬拷锟斤拷锟紽锟絓锟絀效锟杰和業锟斤拷效锟绞的诧拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟絋锟疥數锟斤拷锟斤拷未锟斤拷锟斤拷锟斤拷拥锟斤拷锟絩锟铰ｏ拷锟斤拷锟絀锟絀锟斤拷锟斤拷锟紽锟剿革拷锟斤拷锟斤拷锟絃锟斤拷锟斤拷锟斤拷锟絋锟斤拷锟斤拷锟�12锟揭ｏ拷锟絖锟斤拷443锟揭ｏ拷锟斤拷锟铰營锟斤拷50.8锟絴元锟斤拷同锟斤拷锟斤拷锟絃117.1%锟斤拷

锟叫囷拷锟叫堬拷锟侥撅拷锟斤拷锟斤拷锟斤拷锟絫锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷展锟斤拷元锟斤拷锟斤拷锟組锟絯驗，锟斤拷锟紽锟絀锟斤拷29.4锟絴元锟斤拷同锟斤拷锟斤拷锟絃212.2%锟斤拷锟斤拷锟叫ｏ拷锟斤拷锟捷拷锟截筹拷袡C锟斤拷锟絤锟絣锟絔锟斤拷锟斤拷锟斤拷锟斤拷锟绞橈拷锟斤拷锟斤拷購锟絀锟絯锟斤拷锟斤拷锟斤拷锟斤拷荩锟狡凤拷锟斤拷驴蛻锟斤拷锟饺拷锟斤拷锟斤拷械锟秸硷拷却锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟紽锟絀锟斤拷11.3锟絴元锟斤拷同锟斤拷锟斤拷锟絃181.9%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷膬锟斤拷锟斤拷锟教聚斤拷锟斤拷品效锟杰ｏ拷锟斤拷锟紽锟絀锟斤拷5.6锟絴元锟斤拷同锟斤拷锟斤拷锟絃168.6%锟斤拷锟斤拷锟狡斤拷_锟斤拷艦锟斤拷锟斤拷|锟絚锟斤拷锟斤拷锟斤拷锟絣锟斤拷锟节斤拷锟斤拷618锟斤拷锟絞锟斤拷锟斤拷貓锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟絴平锟絖锟斤拷锟叫業锟絅锟斤拷锟斤拷锟斤拷锟斤拷位锟叫碉拷一锟斤拷锟斤拷貓锟斤拷艦锟疥實锟紽锟絀锟斤拷6.6锟絴元锟斤拷同锟斤拷锟斤拷锟絃230.7%锟斤拷

锟絊锟斤拷锟斤拷锟紿锟斤拷锟斤拷锟皆的诧拷锟斤拷锟斤拷锟诫，锟絎锟斤拷锟缴达拷^锟津實現锟剿業锟斤拷锟斤拷锟絣锟斤拷锟絃锟斤拷锟斤拷锟斤拷锟叫堬拷锟桔斤拷锟斤拷锟斤拷锟斤拷锟较帮拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷T锟斤拷19锟揭ｏ拷锟絖锟斤拷41锟揭ｏ拷锟斤拷锟铰營锟斤拷8.4锟絴元锟斤拷同锟斤拷锟斤拷锟絃744.3%锟斤拷锟絎锟斤拷锟叫堬拷锟絕锟絤锟斤拷锟斤拷全锟斤拷知锟斤拷锟截標ｏ拷锟较帮拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷T锟斤拷4锟揭ｏ拷锟絖锟斤拷18锟揭ｏ拷锟斤拷锟铰營锟斤拷2.8锟絴元锟斤拷同锟斤拷锟斤拷锟絃569.6%锟斤拷锟斤拷太锟叫堬拷锟筋化锟斤拷锟斤拷锟斤拷锟桔诧拷锟皆ｏ拷锟斤拷锟斤拷全锟斤拷知锟斤拷锟斤拷锟斤拷目锟侥碉拷锟皆硷拷锟紺锟斤拷锟斤拷锟较帮拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷T锟斤拷5锟揭ｏ拷锟絖锟斤拷69锟揭ｏ拷锟斤拷锟铰營锟斤拷15.3锟絴元锟斤拷同锟斤拷锟斤拷锟絃203.5%锟斤拷

锟较帮拷锟疥，锟斤拷锟捷拷锟截官網锟斤拷APP影锟斤拷锟斤拷@锟斤拷锟斤拷锟斤拷锟斤拷目前锟斤拷锟捷拷锟截官網锟窖革拷锟絯37锟斤拷锟斤拷锟揭ｏ拷锟斤拷锟斤拷34锟斤拷锟斤拷锟斤拷同锟斤拷锟较撅拷锟斤拷锟斤拷锟斤拷APP锟斤拷锟节斤拷锟斤拷锟较帮拷锟疥，锟斤拷锟捷拷锟斤拷一锟饺碉拷锟斤拷锟斤拷锟斤拷^APP STORE購锟斤拷锟斤拷锟叫帮拷牡锟揭伙拷锟斤拷锟斤拷锟斤拷锟斤拷诙锟皆拷锟斤拷木锟斤拷锟斤拷锟斤拷M锟斤拷锟斤拷锟斤拷锟斤拷锟捷拷锟截業锟斤拷锟絴锟絖锟斤拷锟劫傦拷锟斤拷锟揭和地區锟斤拷锟斤拷锟睫撅拷锟斤拷锟斤拷锟斤拷锟絀锟斤拷13.3锟絴元锟斤拷同锟斤拷锟斤拷锟絃1977.4%锟斤拷锟絎锟睫硷拷锟斤拷锟斤拷锟截區锟斤拷锟斤拷锟斤拷锟斤拷锟絀锟斤拷1.6锟絴元锟斤拷同锟斤拷锟斤拷锟絃1358.7%锟斤拷锟斤拷太锟斤拷锟斤拷锟斤拷锟斤拷锟絀锟斤拷10.7锟絴元锟斤拷同锟斤拷锟斤拷锟絃546.7%锟斤拷

锟絊锟斤拷全锟斤拷锟斤拷锟斤拷锟侥筹拷锟絤锟経锟斤拷锟斤拷IP锟斤拷锟絘品锟絅類的诧拷锟斤拷锟絊锟斤拷锟斤拷锟斤拷通锟絕锟斤拷锟斤拷锟斤拷锟斤拷锟絋锟絓锟絀锟斤拷锟斤拷锟絋锟斤拷锟街伙拷規模锟斤拷锟劫擴锟襟。斤拷锟斤拷2025锟斤拷6锟斤拷30锟秸ｏ拷锟叫囷拷锟饺碉拷锟斤拷計注锟皆曪拷锟絋锟斤拷锟斤拷锟斤拷2024锟斤拷12锟斤拷31锟秸碉拷4608锟絝锟斤拷锟斤拷锟絃锟斤拷5912锟絝锟剿ｏ拷锟斤拷锟斤拷注锟皆曪拷锟絋锟斤拷1304锟絝锟剿★拷2025锟较帮拷锟斤拷锟斤拷T貢锟絀锟絅锟斤拷占锟斤拷91.2%锟斤拷锟斤拷锟絋锟斤拷購锟绞烇拷50.8%锟斤拷

锟絀锟斤拷锟斤拷锟絤锟斤拷锟絃锟斤拷同锟絩锟斤拷锟斤拷锟捷拷锟截碉拷毛锟斤拷锟绞★拷锟斤拷锟斤拷锟绞★拷锟斤拷锟斤拷锟斤拷D锟斤拷锟絓锟絀指锟剿旓拷锟斤拷也锟节筹拷锟絤锟斤拷锟斤拷锟斤拷锟絯锟紽锟剿癸拷司锟斤拷锟斤拷锟斤拷\锟絀锟斤拷盈锟斤拷锟斤拷锟斤拷锟斤拷2025锟斤拷锟较帮拷锟疥，锟斤拷司毛锟斤拷锟绞烇拷70.3%锟斤拷同锟斤拷锟斤拷锟斤拷锟斤拷6.3锟斤拷锟劫凤拷锟絚锟斤拷锟斤拷锟铰歷史锟铰高★拷

5锟斤拷IP锟斤拷锟斤拷锟斤拷10锟絴 毛锟絨锟絀锟斤拷占锟斤拷锟阶筹拷锟斤拷锟絢

2025锟斤拷锟较帮拷锟疥，LABUBU全锟津爆伙拷蔀槌拷锟絀P锟斤拷THE MONSTERS锟斤拷MOLLY锟斤拷SKULLPANDA锟斤拷CRYBABY锟斤拷DIMOO锟斤拷锟絀P锟斤拷锟紽锟絀锟斤拷锟斤拷10锟絴元锟斤拷HIRONO锟斤拷锟斤拷锟斤拷锟剿★拷Zsiga锟斤拷PUCKY锟斤拷HACIPUPU锟斤拷13锟斤拷IP锟斤拷锟紽锟絀锟斤拷锟狡億元锟斤拷IP影锟斤拷锟饺拷锟斤拷锟饺︼拷锟�“一锟斤拷锟斤拷锟斤拷”锟斤拷殖锟斤拷锟斤拷锟斤拷锟絀P锟斤拷锟脚發展锟斤拷锟狡硷拷锟紽锟絀锟斤拷锟劫勶拷锟铰高★拷

通锟絕锟斤拷IP锟絘品锟侥诧拷锟斤拷锟斤拷锟铰ｏ拷THE MONSTERS锟斤拷锟紽锟絀锟斤拷48.1锟絴元锟斤拷同锟斤拷锟斤拷锟絃668.0%锟斤拷锟斤拷锟斤拷锟斤拷叽锟斤拷锟斤拷缘慕锟斤拷锟絀P锟斤拷MOLLY始锟終展锟紽锟斤拷锟筋勃锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟紽锟絀锟斤拷13.6锟絴元锟斤拷同锟斤拷锟斤拷锟絃73.5%锟斤拷SKULLPANDA锟斤拷锟斤拷突锟斤拷藝锟絞邊锟界，锟斤拷锟紽锟絀锟斤拷12.2锟絴元锟斤拷同锟斤拷锟斤拷锟絃112.4%锟斤拷CRYBABY锟皆拷锟截的憋拷锟絖锟斤拷锟斤拷锟斤拷锟絣锟斤拷w锟斤拷锟絈锟斤拷锟斤拷锟紽锟絀锟斤拷12.2锟絴元锟斤拷同锟斤拷锟斤拷锟絃248.7%锟斤拷DIMOO锟斤拷锟铰產品锟斤拷锟斤拷锟斤拷圈锟斤拷锟斤拷锟紽锟絀锟斤拷11.1锟絴元锟斤拷同锟斤拷锟斤拷锟絃192.5%锟斤拷

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