Blokees

Blokees (布鲁可集团) is a Chinese buildable-character-toy company founded in 2014, headquartered in Shanghai, that designs, develops and sells what it calls "buildable character" toys — a category that sits between traditional building blocks and action figures . By its January 2025 Hong Kong IPO, it had become China's largest and the world's third-largest player in this segment by revenue, according to Frost & Sullivan data cited in its prospectus .

The company's product strategy rests on a dual IP engine: two original properties ("百变布鲁可" and "英雄无限") alongside non-exclusive licenses for more than 50 global franchises including Ultraman, Transformers, Marvel and Naruto . It pitches this as a "full-audience, full-price-range, globalized" matrix, with R&D staff making up 64% of headcount as of mid-2024 and a patent portfolio exceeding 500 items . Blokees also cultivates a user-generated-content community, BFC, where fans submit custom builds and compete in design contests .

Gaorong Ventures, which first invested in Blokees' pre-A round in 2020 and doubled down in the Series A, counted the company's January 2025 HKEX listing (ticker: 0325.HK, issue price HK$60.35) as one of its 2025 portfolio IPOs . The company has since pushed into overseas markets including the US, Southeast Asia and Europe, and by early 2025 its products were available in 114 countries .