Ye Guofu, founder of MNSO (09896.HK) +0.350 (+1.029%) Short selling $61.20M; Ratio 25.136% (MNSO.US) , disclosed that there is a fixed methodology for IP operations with four key steps: signing exclusive IPs or incubating proprietary IPs; developing products; launching them in stores while tracking data; and promoting IPs that perform well based on the data.Trendy toy companies that sign artist IPs or incubate their own IPs without having their own stores create a closed-loop ecosystem are doomed to fail if they enter distribution channels, Ye emphasized.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-19 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)