Bloks Technology Group

What Bloks Technology Group does

Bloks Technology Group (布鲁可集团) is a Chinese toymaker publicly listed on the Hong Kong Stock Exchange under ticker 0325.HK, founded in 2014 and headquartered in Minhang, China. The company operates a single product portfolio spanning three tiers: entry-level blind box toys priced at 9.9 yuan, mid-range toys based on licensed intellectual property (notably Transformers under license from Hasbro and Ultraman), and higher-priced collectibles targeting adult demographics. Unlike peers such as Pop Mart, Bloks has not built a portfolio of self-developed characters and depends almost entirely on third-party licensed IP for its content.

The company's go-to-market is direct-to-consumer, with rapid international expansion driving a fivefold surge in overseas sales in 2025. The 9.9 yuan blind box price point is a deliberate strategy to undercut established competitors like Pop Mart and Lego in price-sensitive segments, while higher-priced collectibles address an adjacent adult collector segment. Revenue reached 2.91 billion yuan in 2025, up 30% year-over-year, and the company swung to a 634 million yuan net profit after four consecutive years of losses — aided by a 78.9% reduction in administrative expenses and the overseas growth, though gross margins compressed by 5.8 percentage points on tooling costs and thin margins from ultra-low-priced products. The company is led by founder and CEO Weisong Zhu, employs 101–250 people, and has no disclosed proprietary technology, AI capabilities, or platform infrastructure.

Name

Bloks Technology Group

Legal name

Bloks Group Ltd.

Website

https://bloks.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Bloks Technology Group is a Chinese toymaker (HKEX: 0325) selling ultra-low-priced 9.9 yuan blind boxes and licensed IP collectibles (Transformers, Ultraman) to mass-market and adult collector consumers, with rapidly expanding overseas sales.

Ownership category

akta.pro rank

Product category

Toys and Collectibles

NAICS

Doll, Toy, and Game Manufacturing (33993), Hobby, Toy, and Game Retailers (45912)

SIC

Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944)

akta.pro primary industry

Traditional Toys Distribution (CRAOAMAA)

Keywords

• Blind box toys
• Licensed IP toys
• Collectible toys
• Building block toys
• Model figure toys

Headquarters

HQ city

Minhang

HQ country

China

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Toy Products Sales: Revenue generated from sale of blind box toys and collectible toys. The company offers ultra-low-priced products (9.9 yuan blind boxes) as well as higher-priced collectibles for older demographics.
2. Licensed IP Products: Revenue from toys featuring licensed intellectual property including Transformers and Ultraman, relying heavily on licensed IP rather than self-developed characters.

Go-to-market motion1 record

Core offering

Bloks Group (布鲁可集团) is a Chinese toymaker that designs, manufactures, and sells blind box toys, licensed IP character toys (Transformers, Ultraman), and higher-priced collectible figures. The company's portfolio relies heavily on licensed intellectual property rather than self-developed characters, with products anchored by an ultra-low-priced 9.9 yuan blind box line driving rapid international expansion.

Product overview

Bloks Group (布鲁可集团) is a Chinese toymaker operating as a single unified product portfolio consisting of ultra-low-priced blind box toys (9.9 yuan), licensed IP toys (Transformers, Ultraman), and higher-priced collectibles. The company relies heavily on licensed intellectual property rather than self-developed characters, competing against established brands like Pop Mart and Lego while expanding into older demographics with premium collectibles.

Differentiator

Problem solved

Functional benefit

Products and services

• Ultra-Low-Priced Blind Box Toys Entry-level blind box toys priced at 9.9 yuan, designed for mass-market budget-conscious consumers and collectors. The blind box format drives repeat purchases and was the lead driver of Bloks Group's 2025 turnaround and fivefold surge in overseas sales.
• Licensed IP Toys (Transformers, Ultraman) Toy products manufactured and sold under license featuring popular intellectual property characters including Transformers (licensed from Hasbro) and Ultraman. These licensed IP toys form the backbone of Bloks Group's product portfolio in the absence of significant self-developed characters.
• Higher-Priced Collectibles Premium collectible toys targeting older demographics and adult hobbyist collectors at higher price points, representing Bloks Group's expansion strategy beyond the children's toy segment to compete directly with Pop Mart and Lego in the adult collector market.

Quantifiable outcome

• Revenue increased 30% to 2.91 billion yuan in 2025
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Pop Mart: Pop Mart is the leading Chinese blind-box collectibles company (Labubu, Molly, Skullpanda). It is Bloks' most direct competitor, competing for the same mass-market and adult collector segments with proprietary IP and a comparable low-priced entry point.
• 52TOYS: 52TOYS is a Chinese collectible toy company producing blind boxes, designer figures, and IP-licensed toys. It is a direct domestic peer to Bloks in the blind-box collectibles segment targeting mass-market and adult hobbyist consumers.
• Funko: Funko produces licensed pop-culture collectibles (Pop! Vinyls) and is comparable to Bloks' higher-priced collectibles line targeting adult collectors of entertainment IP. Both companies monetise third-party entertainment franchises through affordable physical collectibles.

Broad incumbents

• Lego: Lego is the global leader in construction toys and a key competitor cited by Bloks. While Lego targets builders rather than blind-box collectors, both companies compete for toy shelf space, gifting occasions, and licensing partnerships with major entertainment IP.
• Hasbro: Hasbro is the licensor of Transformers and a major global toy/IP company. Bloks is a downstream licensee of Hasbro IP, making Hasbro both an upstream partner and a strategic comparable for monetising entertainment IP through physical toys.
• Bandai Namco: Bandai Namco is a major Japanese toy and collectibles company producing licensed and original IP figures (Gundam, Dragon Ball). It is comparable to Bloks as a global IP-toy monetiser with both licensed and proprietary character portfolios.
• Mattel: Mattel is a global toy incumbent (Barbie, Hot Wheels, Masters of the Universe). Comparable to Bloks in toy manufacturing scale, IP licensing practices, and exposure to mass-market retail channels, but with a much broader and more proprietary IP portfolio.
• Sanrio: Sanrio owns Hello Kitty and other character IP and monetises it through licensed toy and collectible merchandise. Comparable to Bloks' model of leveraging character IP into physical toy and collectible product revenue.

Regional players

• TopToy / TOP TOY: TOP TOY is the collectibles retail arm of Chinese retailer Mixc, stocking blind boxes, designer toys, and IP merchandise. Comparable to Bloks as a Chinese collectibles ecosystem player, though TOP TOY is primarily retail/distribution rather than product manufacturing.

Emerging players

• Medicom Toy: Medicom Toy produces Be@rbrick and other high-end collectible figures targeting adult collectors. Comparable to Bloks' higher-priced collectible line in terms of adult-collector product positioning and limited-edition drop mechanics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bloks Technology Group