HK Stock Market Move | BLOKS (00325) rise against the market by more than 5%. China's trendy toy industry continues to expand, with the company's IP system and product matrix continuously enriched.

BLOKS (00325) rose more than 5% against the market, up 5.41% as of press time, at 72.05 Hong Kong dollars, with a turnover of 61.96 million Hong Kong dollars. On the news front, Guosheng research report pointed out that China's IP-based spiritual consumption is on the fast track of growth, with the increase in domestic IP supply, expanding audience base, and large growth potential in per capita consumption compared to developed countries. Sinolink stated that the tide play industry continues to expand, with overseas acceleration evident. The industry is mainly focused on three main themes: creating value for thick IP and category innovation and efficiency and globalization, selecting top companies that focus on IP content and emotional resonance, and actively expanding overseas channels and improving efficiency. Huatai released a research report stating that looking back, in the context of weak overall traditional toy consumption in 2025, it is expected that BLOKS' traditional main business in 2025 will be weaker than market expectations. However, the performance of new business lines such as the 9.9 yuan Star Edition product, adult-oriented products, and overseas expansion is outstanding, which is expected to drive a sequential revenue acceleration in 2025H2 and continue the rapid growth trend in 2026. In addition, in order to support the promotion of new products and regional development, the company increased investment in molds, manpower, and other costs in 2025, causing temporary disruption to profitability, but it is expected to see a recovery in 2026.