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Earnings & capital

Results, operating data, funding and IPOs.

Summaries are AI-generated

Industry52TOYS Files for Hong Kong IPO, Targeting Main Board Listing

52TOYS filed for a Hong Kong IPO on May 22, targeting a Main Board listing, with Citi and Huatai International as joint sponsors. According to the prospectus, 52TOYS is China's second-largest multi-category IP toy company by 2024 GMV. The company relies mainly on licensed IPs, with sales of licensed products rising from 50.2% in 2022 to 64.5% in 2024, but high licensing costs result in lower gross margins than POP MART.

36氪 · Original ↗ ·
Global expansionFunding/IPORetail

IndustryBlokees Stock Breaks HK$126 Driven by IP and Channels

Blokees' stock is up over 108% this year, with a gross margin of 52.9% in the first half of 2024. Relying on over 50 IP licenses, full-channel layout, and tech innovation, the company is transforming from a toy manufacturer to an IP ecosystem operator, though it faces IP dependency and overseas challenges.

腾讯网 · Original ↗ ·
Building blocksTransformersPokémon

IndustryKayou: Seeing a New Cultural Business Model Through a Card

Kayou's 2024 revenue exceeded 10 billion yuan, with the Nezha series selling out 4.5 million packs within a week. The company focuses on the TCG sector, operates its own factory, holds dozens of licensed IPs, and plans to expand its TCG gameplay overseas.

中国网 · Original ↗ ·
Cards/TCGMy Little PonyKayou

ReleasesKotobukiya’s ARTIST SUPPORT ITEM Hand Model Series Surpasses 100,000 Units Shipped Globally

Kotobukiya announced that its ARTIST SUPPORT ITEM hand model series has now shipped over 100,000 units worldwide. Since its 2022 debut, the figures have been praised for near‑human joint articulation and detailed realism, earning accolades such as the Makuake Of The Year 2023 SILVER award and a special prize at the AmiAmi Figure Awards. Kotobukiya also revealed a new web service, ‘Jizaiten – Free‑Angle Manga Asset Collection’, slated for early 2025 to further aid creators.

寿屋 Kotobukiya（PR TIMES） · Original ↗ ·
Figures/GKNew release

IndustryBlokees Files Hong Kong IPO Prospectus for Main Board Listing

Blokees Group has filed a prospectus with the Hong Kong Stock Exchange for a main board listing. The company reported 877 million yuan in revenue in 2023 and accumulated losses exceeding 1.1 billion yuan from 2021 to 2023. The prospectus highlights the company's heavy reliance on licensed IPs like Ultraman and Transformers, with some licensing periods expiring soon.

36氪 · Original ↗ ·
Building blocksUltramanTransformers

IndustryKayou Files for HKEX Listing: Q3 2023 Sales Halved

Kayou filed a prospectus on Jan 26 to list on the Main Board. Q3 2023 trading card sales dropped 49.44% YoY to 1.04 billion packs, with revenue of 1.952 billion yuan, heavily reliant on the Ultraman series.

36氪 · Original ↗ ·
Cards/TCGGlobal expansionUltraman

IndustryBandai Namco Posts ¥1.35 Trillion Net Sales in FY2026

Bandai Namco reported consolidated net sales of ¥1.35 trillion for FY2026, up 8.6% year-on-year. Operating profit reached ¥189.5 billion, and the company maintained a 17% return on equity and a 14.1% operating margin.

The Globe and Mail · Original ↗ ·
Bandai

IndustrySummary and Interpretation of China's Toy Industry Policies in 2024 and 31 Provinces

The Ministry of Industry and Information Technology and other departments released the 'Work Plan for Stabilizing the Light Industry (2023-2024)', proposing to stimulate toy consumption and stabilize imports and exports. Provincial plans also emphasize promoting the integration of animation games and toys, and implementing industry standards. POP MART and other listed companies are listed as industry representatives.

腾讯网 · Original ↗ ·
AnalysisPOP MARTRegulation

IndustryBandai, Namco to merge

Motivated by a shrinking consumer base, higher development costs, Bandai and Namco have announced a merger.

GameSpot · Original ↗ ·
Bandai