Chinese toymaker taps ‘kidult’ craze as shares soar on Hong Kong debut

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Financial Times 11h ago

Chinese toymaker taps ‘kidult’ craze as shares soar on Hong Kong debut - Financial Times

Quick Summary:

China’s toy market was worth Rmb159.8bn ($21.8bn) in 2023, according to a recent report from Daxue Consulting, which highlighted the rise of so-called “pop toys” inspired by popular culture.

Yet Bloks Group has made a loss since at least 2021, according to its unaudited financial information in its IPO prospectus, with a pre-tax loss of Rmb203,000 in its 2024 fiscal year.

Enthusiasm for the toy market comes amid a demographic slowdown in China which has seen the number of newborns fall sharply, as well as a wider loss of consumer confidence against the backdrop of a weak property sector.