Every toy-industry item we collected, newest first.
Summaries are AI-generated
52TOYS filed a prospectus with the HKEX, planning to raise funds for direct store construction and expansion in Southeast Asia, the US, and Japan. With 2024 revenue of 630 million yuan and a net loss of 122 million yuan, the company has a gross margin of 39.9% and relies heavily on licensed IPs, with core contracts expiring in 2026-2027.
Kayou's prospectus expired on the HKEX website, marking its second failed IPO attempt after January 2024. Despite strong financial performance and leading market share, the company faces regulatory pressure due to its 'gambling-like' business model and concerns over minor protection.
52TOYS opened its first brand store at Studio City Macau on November 3. The over-100-square-meter store features a gilded exterior and local landmarks like the Ruins of St. Paul's. A limited Pouka Pouka vinyl plush inspired by Portuguese tarts is sold exclusively at the store, along with a designer signing event for CiCiLu.
Kotobukiya and KDDI Technology announced a joint verification of product display using the latest 3D Gaussian Splatting technique. The method renders high‑precision, lightweight models in browsers on smartphones and PCs, addressing the difficulty of showing transparent surfaces and fine details for figures and plastic models online. Data from the test will be released gradually between November and December 2025 to explore ways to improve the e‑commerce shopping experience.
Collectibles manufacturer Funko will report Q3 earnings after market hours this Thursday, having previously beaten analyst revenue expectations by 5.2%.
Funko will report Q3 earnings after market close this Thursday, with analysts expecting revenue to decline 10.5% year-on-year to $262 million. The stock is down 22% versus the average analyst target of $3.75 and has underperformed the consumer discretionary sector.
JAKKS Pacific reported its Q3 2025 results and will hold an analyst call on October 30. The Board declared a quarterly cash dividend of $0.25 per share, payable on December 29.
MegaHouse announced on Oct 28 2025 that it is reopening recruitment for the elementary‑school program “Learning Universal Design with Othello.” The program supplies two universal‑design Othello boards, one standard board, plus videos, slides, lesson plans and worksheets for immediate classroom use. Over 80% of teachers who piloted it in 2024 rated it “satisfied” or higher, indicating strong educational value.
In September, TOP TOY, owned by MINISO, filed its prospectus with the Hong Kong stock exchange, while the trading card company Hitcard was reported to be advancing its IPO process. Earlier this year, 52TOYS and Kayou also filed applications with the Hong Kong stock exchange.
Miniso is strengthening its IP operations with tailored e-commerce strategies and offline pop-ups like the Harry Potter theme. The company plans to spin off its toy brand TOP TOY for a Hong Kong listing and has shifted its focus to IP-based products.
TOP TOY submitted a prospectus to the Hong Kong Stock Exchange on September 26, 2025, to go public. In the first half of 2025, the company reported revenue of 1.36 billion RMB, gross profit of 441 million RMB, and profit of 180 million RMB. As of June 30, 2025, it operated 293 stores with over 10 million members. In July 2025, it completed an A-round financing of approximately 427 million RMB, valuing the company at 9 billion RMB.
In August 2025, POP MART reported 13.88 billion yuan in revenue, with its stock hitting a record high. The same month, TOP TOY, backed by MINISO, secured investment from Temasek at a post-money valuation of about 10 billion HKD. Major Chinese art toy brands like POP MART, Blokees, Kayou, and 52TOYS are rushing to list or file IPOs, accelerating their expansion into Southeast Asia.
POP MART's H1 2025 revenue reached 13.88 billion yuan, up 204.4%. THE MONSTERS series earned 4.81 billion yuan, driven by LABUBU. Plush category revenue was 6.14 billion yuan, accounting for 44.2%, overtaking figures for the first time.
Collectibles company Funko reported a $41 million loss in the second quarter, with shares plunging more than 35% in reaction to the poor earnings call.
Bandai Namco's Q1 FY2026 earnings show Gundam revenue up 81.2% to 65.4 billion yen, a record high. Other major IPs like Dragon Ball and One Piece saw declines in the same period.
On July 25, Feng Zhiming's delegation visited 52TOYS, praising its awards and role as a model for cultural products 'going global'.
POP MART reported a revenue growth of at least 200% and a net profit increase of over 100% for the first half of 2025. Despite the strong performance, the market remains unimpressed, reflecting a disconnect between fundamentals and secondary market sentiment.
Companies like Aofei Entertainment, Starry Sky Entertainment, and Tomcat are key players in China's AI toy sector. Aofei Entertainment's toy revenue exceeded 1 billion yuan in 2024, with firms focusing on AI technologies like multi-turn dialogue.
Funko faces a tough sales environment with U.S. retail sales down double digits and retailers hesitant to take on inventory. The analyst downgrades FNKO stock to sell, citing thin gross margins, tariff threats, and tight liquidity.
Kotobukiya announced that the cumulative global shipments of its bishōjo plastic model series surpassed 8.4 million units as of June 2025. The series includes titles such as Frame Arms Girl, Megami Device, Sōsai Shōjo Teien and Arcana Dia. The company said it will continue to develop new models to meet worldwide fans’ expectations.
Blokees achieved 10 billion yuan in revenue in just two and a half years, but relies heavily on Ultraman. New IPs like Pokémon underperformed. The company expanded via low-price products and all channels, causing declining gross margins and lower channel efficiency, facing transition pains.
China's third-largest IP toy company 52TOYS filed a prospectus with the HKEX, reporting 630 million yuan in revenue and 32.01 million yuan in adjusted net profit in 2024, showing a significant gap with market leaders. The company seeks growth by expanding licensed IP and accelerating overseas expansion, but faces challenges including low gross margins, high channel dependency, and bottlenecks in developing its own IPs.
Dreams USA has secured two preliminary injunctions against alleged infringers of its trademarked and copyrighted Sonny Angel®, HIPPERS®, and Smiski® products in the U.S. market. The company is actively policing and pursuing legal action against various infringers, including kiosk operators, C-store owners, and social media sellers, to protect authorized distributors and prevent consumers from purchasing unauthorized and inferior products.
52TOYS filed for a Hong Kong IPO on May 22, targeting a Main Board listing, with Citi and Huatai International as joint sponsors. According to the prospectus, 52TOYS is China's second-largest multi-category IP toy company by 2024 GMV. The company relies mainly on licensed IPs, with sales of licensed products rising from 50.2% in 2022 to 64.5% in 2024, but high licensing costs result in lower gross margins than POP MART.
52TOYS opens its first store in Yangzhou MixC, located by the Slender West Lake. The store features original IP 'CiCiLu', NOOK, and the dinosaur 'Dio', alongside products like Stitch, Crayon Shin-chan, and Strawberry Bear. Promotions include discounts and gifts during the opening.
Takara Tomy Arts and Marvelous’ Pokémon Frienda arcade machine, launched on July 11 2024, has logged over 100 million plays in about 273 days (as of April 9 2025). Featuring twin cabinets, tag‑play and a touch‑screen interface, the machine costs up to ¥600 per play and sets the fastest cumulative‑play record for Pokémon kids’ arcade machines.
52TOYS opened a flagship store at Taipei's Zhongxiao SOGO on April 18, featuring IP elements and interactive displays, along with exclusive activities.
Kayou's 2024 revenue exceeded 100 billion yuan, with trading card sales of 8.2 billion yuan and a 71.1% market share. The company is diversifying into stationery and dolls to reduce reliance on single card products and build a comprehensive merchandising brand.
Kayou updated its prospectus for a Hong Kong Main Board listing. Revenue exceeded 10 billion yuan in 2024, with a 71.1% market share in trading cards. The company operates a matrix of 70+ IPs, featuring core products like Ultraman, My Little Pony, and Nezha collab cards.
Kayou filed a prospectus on April 14 to pursue an HK IPO. In 2024, the company reported revenue of approximately 10.057 billion yuan, with TCGs contributing 81.5% of total income and holding a 71.1% market share in the TCG segment of the entertainment toy industry.
