New stock news | Bruco Hong Kong Stock Exchange submission fails, with GMV growth exceeding 170% year over year in 2023.

Brickle Group Limited's Hong Kong IPO prospectus submitted on May 17, 2024 expired after 6 months on November 17, with Goldman Sachs and Huatai International as its joint sponsors at the time of submission. The prospectus shows that Brickle is an innovator and leader in the global construction role-play toy industry. With over 470 patents, original IP capabilities, and partnerships with over 30 well-known IPs, the company focuses on providing consumers with high-quality and affordable construction role-play toys and has achieved rapid growth. According to Frost & Sullivan, Brickle is China's largest and a global leading construction role-play toy company, achieving approximately RMB 1.8 billion in GMV in 2023. The company is the fastest-growing scaled toy company globally, with GMV increasing by over 170% year-on-year in 2023. In terms of finance, the company's revenue in 2021, 2022, 2023, as well as January-March 2023 and January-March 2024, were approximately RMB 330 million, RMB 326 million, RMB 877 million, RMB 144 million, and RMB 466 million respectively; with gross profit for the same periods being approximately RMB 123 million, RMB 123 million, RMB 415 million, RMB 589.37 million, and RMB 242 million respectively.