New Share0325 IPO】 Bloks Group Listing News | Plungs Increased by Over 82%

Futu NewsDecember 31 News, China Lumber Brand $BLOKS(00325.HK)$ Announcement to launch from 31 December 2024 to 7 January 2025IPOsIt is expected to be listed on January 10, and the company will sell 24.1203 million shares worldwide. Adhering to the Economic Concept, the Four Foundations of the United Kingdom are included.

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Bloks Group IPOs

Financial Overview

For 2021, 2022 and 2023, and the six months to 30 June 2024, Bloks Group recorded revenues of RMB0.33 billion, RMB0.326 billion, RMB0.877 billion and RM1.046 billion, respectively, with an average compound growth rate of 63.0% for 2021 to 2023, compared to 20246 Year-to-date revenue increased 237.6% in the six months ended June 30.

The company's gross margin continued to grow over the record period, rising from 37.4% in 2021 to 37.9% in 2022, further increasing to 47.3% in 2023 and 52.9% in the six months ended June 30, 2024.

Overview of Lumber Industry

The global patchwork toy market will reach RMB176.5 billion in 2023, with a compound growth rate of 15.0% from 2023 to 2028. The Chinese patchwork toy market is expected to grow from RMB23.7 billion in 2023 to RMB64 billion in 2028, with a compound growth rate of 22.1% per annum.

In the Chinese patchwork toy market, the matching role-playing toys market is expected to lead the growth. Its market size is expected to grow from RMB 5.8 billion in 2023 to RMB32.5 billion in 2028, with a compound annual growth rate of 41.3%.

Bloks Group Capital Investors

For Kishiki Investors, UBS AM Singapore, Fujian Investors Fund and Hong Kong Hong Kong have agreed to comply with the terms and conditions, with an offer price or promotion of a total purchase price of US$0.388 billion (holiday development price of HK$58 billion), the middle of the immediate sale price range.

Use of Bloks Group

In terms of utilisation, Bloks Group expects a net global sale of HK$1.294 billion (based on the issue price range of HK$58 billion). Based on the solicitation of shares, Bloks Group will use the global sales pool funds for the following purposes:

Approximately 25% will be used to enhance the company's R&D capabilities related to product design and development;
Approximately 25% will be used to invest in core production resources (such as molds) and focus on the production of matching role-playing toys;
Approximately 20% will be used to further select the company's IP portfolio to develop the company's growth strategy;
Approximately 20% will be spent on sales and marketing activities;
Approximately 10% will be used for working capital and other general corporate purposes.

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