Everything about Kayou: releases, IPs and collaborations, business and retail.
Summaries are AI-generated
China Post Securities report highlights trading cards' dual value. China's collection card market hit 32.1 billion yuan in 2024, up 152.8%, expected to reach 45.5 billion yuan by 2029. Kayou holds a 71.1% market share in the country's trading card sector based on 2024 GMV.
Top card companies like Kayou and Hitcard are shifting from card-only to diversified entertainment, expanding into toys, stationery, BJD, and TCG products to build diverse matrices.
Kayou gave away 20,000 sets of horse-themed cards for 1 cent at the 2026 Spring Festival Gala, while a Pokémon card sold for 114 million RMB. The article compares these events, noting the card category is expanding its consumer base, and analyzes the strategies of Kayou, Suplay, and Hitcard regarding national trend IPs and financing.
Kayou became the first card partner of the Spring Festival Gala, launching the 'Galloping Steed Collection' gift boxes. The Gala distributed cards and announced an online sale, with 20,000 sets selling out instantly.
The toy and card industry saw a concentrated wave of financing in 2026, with major players like POP MART, Blokees, and companies like Kayou and Flash Soul securing large rounds. Capital now prioritizes supply chain barriers and profitability, though IP dependency, aesthetic fatigue, and international risks remain concerns.
2025年国内非对战式卡牌市场规模达235亿元，同比收缩26.8%。卡游、集卡社等头部品牌热销品数量下滑，但TCG、球星卡及影视综收藏卡等细分赛道表现亮眼，资本与出海布局持续加码。
Jason Entertainment, the parent company of Jikashe, secured a new round of hundreds of millions in strategic funding from investors including CCTV Media Fusion Fund and Game for Peace. Meanwhile, Card Kingdom's Hong Kong IPO application lapsed as its prospectus expired. Experts note the market's growth potential but stress the need for companies to expand boundaries to overcome development ceilings.
Kayou and global sports collectibles giant Topps announced a partnership to launch the NBA Match Attax 2025 series in China, jointly developing official NBA-licensed products and leveraging Topps' global distribution network.
Kayou and Fanatics launched the officially licensed NBA Match Attax 2025 series on October 3. Available in 10 yuan 'Power Pack' and 20 yuan 'Super Pack' formats via Kayou's channels, the release fills the gap for licensed NBA trading cards in China.
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.
Kayou and Aviation Culture launched the 'China Fighter Collection Cards: Winning in the Sky' on August 1, featuring 30+ aircraft models including the J-20 and J-35A. The series includes 8 card types that combine technical education with interactive assembly play to engage young collectors.
Kayou resubmitted its IPO prospectus to the HKEX in April 2025. The company is developing film card products like 'Ne Zha 2' and expanding its IP matrix to 70 to reduce reliance on core IPs like Ultraman and My Little Pony, while attracting a broader adult user base.
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 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.
Kayou Limited updated its IPO prospectus, reporting 2024 revenue of 10.059 billion yuan and adjusted net profit of 4.466 billion yuan, up 378.16% year-on-year. The company holds a 71.1% market share in China's trading card sector with a 67.3% gross margin, ranking second only to MINISO and POP MART in scale.
Kayou filed for IPO, with revenue rising from 4.13 billion yuan to 10.057 billion yuan and net profit reaching 4.466 billion yuan from 2022 to 2024. Trading card business accounts for over 80% of revenue with a gross margin of about 67%.
Kayou's 2024 revenue exceeded 10 billion yuan, with the Nezha series selling out 4.5 million packs within a week. The company focuses on the TCG sector, operates its own factory, holds dozens of licensed IPs, and plans to expand its TCG gameplay overseas.
Kayou secured the Nezha 2 license, and its first batch of products sold out quickly upon release. The second batch's online pre-orders exceeded 10,000 units. The company is ramping up restocks with its supply chain, holding a 70% market share in China's trading card sector.
Kayou Limited filed a prospectus for listing on the Main Board of the HKSE on January 26, 2024, with Morgan Stanley, CICC, and JPMorgan as joint underwriters.
Kayou Limited filed a prospectus with the HKEX on January 26, 2024, for listing on the Main Board. While its 2019 revenue exceeded 4 billion yuan, card business revenue fell 46.55% year-on-year in the first nine months of 2023, and stationery business revenue dropped 51.87%.
Kayou filed a prospectus on Jan 26 to list on the Main Board. Q3 2023 trading card sales dropped 49.44% YoY to 1.04 billion packs, with revenue of 1.952 billion yuan, heavily reliant on the Ultraman series.
