【New Stock IPO】Master Copper Cultural and Creative Successfully Passes the Gate, Holding Licenses for Well-Known IPs such as "Avengers" and "Nezha 2" Xiaomi and Lei Jun Hold a Total of Nearly 23%

More “Grain Economy” concept stocks are about to list in Hong Kong. Copper Master Cultural Creativity, which develops copper-based cultural and creative products, has passed the Hong Kong Stock Exchange listing hearing, indicating that the IPO process can begin in the short term. China Merchants Securities International is the exclusive sponsor for Copper Master Cultural Creativity. In the first nine months of 2025, the company’s profit fell 22% year-on-year to 41.55 million yuan (RMB), while revenue increased 11% to 448 million yuan.

Copper Master Cultural Creativity online product priced at 598 yuan

Founded in 2013, Copper Master Cultural Creativity mainly produces cultural and creative gifts and home decor items. Its product lines include copper, silver, gold cultural and creative products, and plastic figurines, with copper products as the core. As of the end of September last year, the average online order value was 598 yuan; offline was 726 yuan.

Based on the 2024 market for copper cultural and creative crafts, Copper Master Cultural Creativity holds a 35% market share, ranking first in China.

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The top five IPs account for 23.4% of total revenue

Copper Master Cultural Creativity’s IP matrix includes self-developed IPs and licensed IP collaborations. By the end of September last year, the company launched 327 SKUs based on self-developed IPs and 77 SKUs based on licensed IPs. Public information shows that the company has also licensed well-known IPs such as “The Avengers,” “Nezha Conquers the Devil,” and the National Museum.

The company emphasizes that it has established a diversified IP portfolio to avoid heavy reliance on a single IP. In the first nine months of last year, the top five IPs contributed 23.4% of total revenue.

Lei Jun’s Shunwei Capital and Xiaomi hold nearly 23%

Regarding ownership structure, founder Yu Guang is the major shareholder with a 26.27% stake. Xiaomi Group (01810), founder Lei Jun’s Shunwei Capital, and Xiaomi hold 13.39% and 9.56%, respectively, making them the second and third largest shareholders.