As birth rates fall in Asia, companies focus on nostalgic toys for young adults
Shares in Bloks Group, a maker of Transformers and other toy figurines, as much as doubled on their Hong Kong debut on Friday, making a billionaire of their founder and underlining the surge in ‘kidult’ culture despite falling birth rates in the world’s second-largest economy. Shares in the Chinese toymaker rose as much as 82 per cent on their secondary listing debut in Hong Kong, before closing up 41 per cent, valuing founder Weisong Zhu’s stake at more than US$1bn.
The listing was heavily oversubscribed for its Hong Kong allocation, as well as its international portion, according to documents filed with the Hong Kong stock exchange. Yet Bloks Group has made a loss since at least 2021, according to its unaudited financial information in its IPO prospectus, with a pre-tax loss of Rmb203,000 in its 2024 fiscal year. China’s toy market was worth Rmb159.
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