First day of new stock | BLOKS (00325) first listed in the morning with an opening up 81.61%, Goldman Sachs and Huatai International are joint sponsors.

BLOKS (00325) debuts on the market, with Goldman Sachs and Huatai International as joint sponsors. The announcement shows that BLOKS is priced at HK$60.35 per share, with a total issuance of 27.7383 million shares, in lots of 300 shares each, generating a net amount of approximately HK$1.557 billion. As of the time of writing, it has risen by 81.61%, trading at HK$109.6, with a turnover of HK$1.067 billion. Public information shows that BLOKS is the leader in China's building block toy industry, with over 500 patents in place, original IP capabilities, and non-exclusive cooperation with around 50 well-known IPs, focusing on providing consumers with high-quality and affordable building block toys and achieving rapid growth. In 2023 and the six months ended June 30, 2024, most of the company's revenue came from the sales of products based on the Ultraman IP, accounting for 63.5% and 57.4% of revenue, respectively. According to Frost & Sullivan, BLOKS is China's largest and leading building block toy company, achieving approximately RMB 1.8 billion in GMV in 2023. The company is also a fast-growing toy company, with GMV growth exceeding 170% in 2023. In 2023, by GMV, the company held market shares of 30.3% and 7.4% in China's building block toy sub-market and the overall building block toy market, respectively. By GMV, the market size of China's building block toy market was RMB 5.8 billion in 2023, accounting for 5.5%, 14.3%, and 24.4% of China's overall toy market, character toy market, and building block toy market, respectively.