[Click eStock] "SAMG Enter, Biggest Beneficiary of China Reopening"

[Asia Economy Reporter Hyungsoo Park] FS Research analyzed on the 7th that SAMG Entertainment is the biggest beneficiary of China's reopening (resumption of economic activities).

Jongwoon Park, a researcher at FS Research, explained, "SAMG Entertainment's sales in China are increasing based on the popularity of characters such as Mini Force and Tini Ping," adding, "The cumulative sales of Mini Force in China amount to approximately 180 billion KRW."

He continued, "Tini Ping is gaining more popularity than Mini Force," and added, "They are expanding the range of Tini Ping products, so this year's sales of the Chinese subsidiary are expected to exceed expectations."

Furthermore, "the sales volume of Tini Ping toys surged around the Chinese Lunar New Year period this year," and "the average sales volume per product category increased by 49% compared to a year ago," he analyzed.

Researcher Park emphasized, "Based on last month's sales, Tini Ping toys ranked 5th in the figure category on Tmall, China's largest e-commerce platform," and "on JD.com, known as the 'Amazon of China,' they ranked 2nd in the figure category."

He explained, "Until last year, Tini Ping toys were sold in the Chinese market through licensing," and "from this year, the proportion of direct business, which is relatively more profitable, has increased." He added, "at the request of the Chinese partner company Dadi, a joint venture (JV) is also being discussed," and "if the JV is established, it will benefit in line with the growth of the Chinese consumer market."