Craze for Bing Dwen Dwen pushes up share prices

Xinhua

The frenzy related to Beijing 2022 Winter Olympics mascot Bing Dwen Dwen is spreading like wildfire.

Olympic merchandise is flying off the shelves with no end in sight, and the fever pitch has spread to the stock market, with a surge in share prices that have continued for several consecutive days.

Investors are hungry for relevant listed retailers and manufacturers on both the Shanghai and Shenzhen bourses amid expectations they will benefit from the hugely popular Olympic Games merchandise.

A handful of authorized merchandise vendors are expected to share whopping sales of 2.5 billion yuan (US$394.8 million) during the Games, and investors are seizing the opportunity to capitalize on the equity gains.

Shanxi Securities wrote in a research note that authorized retailers are expected to boost brand awareness through the selling of Olympics merchandise.

Beijing Yuanlong Yato Culture Dissemination posted its third consecutive 10-percent daily gain on Wednesday. Responsible for the design, production and sales of Olympics-related stuffed toys and a wide range of decorative items, the company says it's boosting production capacity to ensure adequate supplies.

Cultural Investment Holdings, another licensed retailer of Olympic merchandise, also rose 10 percent for the third straight session.

"It's almost impossible to buy Bing Dwen Dwen due to the limited supply, I already gave up," said one WeChat user surnamed Xu in Nanjing.

Beijing Caishikou Department Store, which sells badges and souvenir coins, advanced nearly 4 percent.

Huaxin Securities anticipates better-than-expected share performance for companies offering Olympics-related digital collectibles, such as China Sports Industry Group.