Futu News reports on January 10, $BLOKS (00325.HK)$ On the first day, it opened high and is currently up 81.61%, as of the time of writing, trading at HKD 109.6, with a trading volume exceeding 1 billion HKD and a total market value of 26.465 billion HKD.

Market source: Futu Securities.

According to previous news, during the last trading day's Futu dark pool trading, Blucco opened high and closed up 73.49%, trading at HKD 104.70, with a trading volume of 0.469 billion HKD; each hand is 300 shares, without considering fees, each hand earns HKD 13,305.

Additionally, according to previously public news, during the public offering phase, Blucco received subscriptions of 5,999.96 times, with a total subscription amount reaching 876 billion HKD, of which Futu accounted for 59%. After redistribution, the final number of shares for the public offering was 12.0603 million shares, accounting for about 43.5% of the total number of shares for sale. A total of 126,841 valid applications were received, with 40,201 applications accepted, and the percentage of H shares allocated for each hand applied for was approximately 10%.

Moreover, during the international placement phase, Blucco received subscriptions of 38.6 times, taking into account the full exercise of the adjustment rights and after redistribution, the final number of international offering shares was 15.678 million shares, equivalent to 56.5% of the total number of shares for sale.

Among them, the IPO subscription amount for Blucco through Futu reached 513.9 billion HKD, ranking first in the All Market! In less than a month, the subscription amount has once again set a new record in the IPO market (Mao Ge Ping: 90.5 billion HKD subscription). Futu News has summarized the relevant data in the table below:

Company Overview.

Bluc is the leader in building block character toys in China, achieving rapid growth by focusing on providing consumers with high-quality and affordable building block character toy products through over 500 patented layouts, original IP capabilities, and non-exclusive partnerships with around 50 well-known IPs. As of 2023 and for the six months ending June 30, 2024, most of the company's revenue came from sales of products based on the Ultraman IP, accounting for 63.5% and 57.4% of revenue, respectively.

According to Frost & Sullivan data, Blokus is the largest and leading building block character toy company in China, achieving approximately RMB 1.8 billion in GMV in 2023, and is a rapidly growing toy company, with GMV growth exceeding 170% in 2023.

Financial Overview

In 2021, 2022, and 2023, as well as for the six months ending June 30, 2024, Bluc recorded revenues of RMB 0.33 billion, RMB 0.326 billion, RMB 0.877 billion, and RMB 1.046 billion, respectively, with a compound annual growth rate of 63.0% from 2021 to 2023, and a year-on-year revenue growth of 237.6% for the six months ending June 30, 2024.

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

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Editor/joe, jeffy