@carolcronin
China's film IP derivative market is experiencing explosive growth. For instance, toys based on "Langlang Mountain Little Monsters" have sold out, with single-film sales revenue reaching billions of yuan. This signals a shift in the industry from reliance on box office earnings to comprehensive, full-industry-chain development. Sustainability relies on long-term operations of high-quality content, cross-border licensing, and the transformation of emotional value. The core of IP operation lies in creating high-quality, extensible character images, building an ecological closed loop, and achieving emotional resonance alongside diversified monetization.