How popular is Sanrio in China?

So, I'm curious to know, just how big of a deal is Sanrio in China? Are they as beloved there as they are in other parts of Asia, or has their popularity waned over time? Do they have a strong online presence, or is it more of a physical retail thing? Are there any particular Sanrio characters that are particularly popular among the Chinese audience? And, of course, are there any unique challenges or opportunities that Sanrio faces in the Chinese market? I'd love to hear your thoughts on all of this!