Congratulations to Bloks on Its Successful Main Board Listing on the Hong Kong Stock Exchange — China's Leader in Buildable Character Toys | Gaorong Ventures News

On January 10, Bloks Group Limited (stock code: 0325.HK) officially listed on the Main Board of the Hong Kong Stock Exchange, with an IPO price of HK$60.350 per share. By 10:00 AM, Bloks was trading at HK$104.100 per share. This historic moment marks a major milestone for China's buildable character toy industry as it steps onto the global stage.

At the listing ceremony, Bloks Group Chairman Zhu Weisong and Executive Director & CEO Sheng Xiaofeng rang the opening gong together. Representatives from the Hong Kong Special Administrative Region government, industry guests, and figures from various sectors attended the ceremony.

Gaorong Ventures participated in Bloks' Pre-A round in 2020 and continued to invest in its Series A round.

A decade in the making, expanding further into global markets

In his listing address, Chairman Zhu Weisong said: "Today, Bloks' successful listing on the Hong Kong Stock Exchange is not only an important milestone in our journey, but also a brand new starting point. Just two weeks ago, Bloks celebrated its tenth anniversary. A decade in the making — we are grateful to all our investors and partners for your support and trust."

"The essence of toys is to bring joy. We love this industry and dare to innovate. Along the way, we have upheld our core values: 'passion-driven, teamwork, user-first, integrity in action, and delivering on promises.'" Zhu continued, "Going forward, we will continue to increase R&D investment and launch more and better products. Together with our partners, we will drive innovation and development in the industry. Our thanks to the Stock Exchange — through this Hong Kong listing, Bloks will attract more outstanding talent, further expand into global markets, and deliver even stronger business performance to repay investors' trust and support. Thank you again for your companionship and encouragement. Let us work hand in hand to create an even brighter future!"

Innovation-driven growth, Bloks continues to lead the industry

Founded in 2014, Bloks focuses on the design, R&D, and sales of buildable character toys. It owns two original IPs, Magic Bloks and Hero Infinity, and holds non-exclusive licenses for over 50 globally renowned IPs including Ultraman, Transformers, Marvel heroes, and Naruto.

According to Frost & Sullivan, Bloks has become China's largest and the world's third-largest buildable character toy company, ranking among the fastest-growing scaled toy enterprises globally.

Fusing technology and creativity Building a "all demographics, all price points, all global" product matrix

According to its prospectus, as of June 30, 2024, Bloks had 331 R&D staff, accounting for 64% of total employees. Through continuous innovation, the company has accumulated over 500 patents, establishing the core competitive strength of its brand. These innovations give Bloks' brick figure products four defining characteristics: "high IP fidelity, easy assembly, strong playability, and accessibility" — enabling the company to achieve comprehensive coverage across age groups and consumption tiers.

Bloks' products not only meet domestic consumer demand but also drive Chinese building blocks onto the global stage through coverage of overseas markets including the US, Southeast Asia, and Europe.

BFC Community: A highly interactive ecosystem of user co-creation

The Bloks Figure Creators (BFC) community engages with players worldwide through events such as creation contests, model competitions, and exhibitions, encouraging users to innovate in their builds and create derivative works. BFC breaks away from traditional one-way communication, building a user-centered co-creation ecosystem. Players are not just consumers of products, but also creators and brand ambassadors, providing valuable inspiration for Bloks' product development and innovation.

Creating innovative products, spreading the joy of building

With the proceeds from this offering, Bloks plans to further strengthen its R&D capabilities, enrich its IP portfolio, invest in core production resources, and focus on scaled manufacturing of buildable character toys to consolidate its market leadership.

Bloks stated that it will take its listing as a new starting point, continuing to deepen its "all demographics, all price points, all global" strategy, and constantly bring more high-quality, fun, and accessible building toys to consumers worldwide, spreading the joy of building.

Lucy Yang, Managing Director at Gaorong Ventures, said: "Bloks is a company with vision and original aspiration, one that has persisted for ten years in bringing innovative products and joy to users. The company's growth shows us the triumph of long-termism — starting from users, insisting on good innovation and good products, and earning the recognition of consumers and the market. Today we warmly congratulate the company on its Hong Kong Stock Exchange listing, and look forward to Bloks continuing to create spiritual and cultural products that accompany us for the long term. May the company thrive and achieve even greater glory!"