On May 17, Bruco Group Limited (hereinafter referred to as “Bruker”) submitted a prospectus on the Hong Kong Stock Exchange to be listed on the Hong Kong Main Board. The co-sponsors are Goldman Sachs and Huatai International.

According to the prospectus, Bruker is a global innovator and leader in character building toys. Through more than 470 patented layouts, original IP capabilities, and partnerships with more than 30 well-known IPs, it focuses on providing consumers with a wide range of building character toy products that are good, inexpensive, and highly restore the charm of IP characters.

According to Frost & Sullivan, Bruker is the largest character toy company in China, achieving a GMV of about 1.8 billion yuan in 2023. Bruker is the fastest growing large-scale toy company in the world. In 2023, GMV grew by more than 170% year on year.

In terms of performance, from 2021 to 2023 and the first three months of 2024, Bruker achieved operating income of $330 million, $326 million, $887 million and $466 million respectively; net profit of -507 million yuan, -423 million yuan, -207 million yuan and 467.11 million yuan respectively; adjusted net profit was -356 million yuan, -225 million yuan, 72.882 million yuan and 122 million yuan respectively.

Prior to the IPO, Zhu Weisong held 50.90% and 4.05% of shares respectively through Next Bloks and Smart Bloks, for a total of 54.95%; Sheng Xiaofeng held 2.01% of shares through ShawnXF Limited; Huang Zheng held 0.63% of shares through Bloks Is Coming Limited; share incentive plan shareholding platform First Prosperity held 9.81%; Junlian Capital through Idea Great Limited, LC Fund holds 6.72% and 0.31% of shares respectively; Source Code Capital holds 5.64% of shares through BlueCo.

According to public information, Zhu Weisong, 41, is the founder of Bruker and is currently the chairman, executive director, and CEO of Bruker. Zhu Weisong co-founded Youzu Network Co., Ltd. in May 2009, which is mainly responsible for R&D management, and served as the supervisor from June 2014 to April 2016. Zhu Weisong obtained his doctorate degree in business administration from Shanghai Advanced School of Finance, Shanghai Jiao Tong University, China - Arizona State University in June 2023, and his master's degree in business administration from the Yangtze River Business School in September 2019.