RASTAR GROUP -A

What RASTAR GROUP -A does

Rastar Group (Xinghui Interactive Entertainment Co., Ltd., A-share code 300043 on the Shenzhen Stock Exchange, GEM board) is a Chinese publicly listed company operating two principal business segments: Rastar Toys and Rastar Games. Founded in 2000 in Shantou, Guangdong Province, the company became the first GEM-listed enterprise in eastern Guangdong when it IPO'd in January 2010. In 2025, Rastar divested its stake in RCD Espanyol football club to concentrate capital and R&D on its toys and games businesses, supported by a corporate structure of 23 holding companies and 16 invested companies.

Rastar Toys manufactures licensed toy products including radio-controlled (RC) cars at scales from 1:8 to 1:32, die-cast metal model cars, building block (brick) assembling cars, transformable robots, children's ride-on electric vehicles, and licensed bicycles, tricycles, and scooters. The business holds IP licenses from over 35 world-renowned automotive brands (BMW, Mercedes-Benz, Ferrari, Lamborghini, Porsche, Audi, Bentley, Bugatti, McLaren, Pagani, Land Rover, Bentley, Maserati, Aston Martin, Toyota, Honda, etc.) with 10+ year global exclusive BMW rights for RC cars and children's bicycles. The product portfolio spans 400+ SKUs exported to 120+ countries via Amazon (US/UK), Tmall, JD.com, and international wholesale distributors, leveraging 240+ accumulated patents and integrating AI/voice interaction features in newer products including the RS Intelligent Dog with Bluetooth near-field interaction and voice capability.

Rastar Games develops and publishes mobile games across self-developed and licensed IP, including the Legend of Three Kingdoms strategy series (cumulative business volume exceeding RMB 6.6 billion), Battlefield without Borders, MapleStory R: Evolution, MapleStory: Will of the Alliance, Ragnarok Dawn, Time Raiders, and Zero to Hero: Pixel Saga. The segment holds IP licenses from NEXON Korea (MapleStory), GRAVITY Korea (Ragnarok), UserJoy (Three Kingdoms), and Nanpai Sanshu (Time Raiders). Distribution covers all major Chinese and international app stores (Tencent, Huawei, OPPO, vivo, Xiaomi, Honor, Apple, Google Play, BiliBili, TapTap, Douyin) with deep HarmonyOS ecosystem integration. Revenue is generated through hardware sales (toys), in-app purchases and game publishing fees (games), and IP licensing royalties, with the toys business achieving 46.47% gross margin in 2024.

Name

RASTAR GROUP -A

Legal name

星辉互动娱乐股份有限公司

Website

https://rastar.cn

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Rastar Group operates two segments: Rastar Toys produces licensed RC cars, die-cast models, and ride-on vehicles under 35+ automotive IP licenses across 120+ countries, and Rastar Games publishes mobile games on Three Kingdoms, MapleStory, Ragnarok, and Time Raiders IPs across major Chinese and international app stores.

Ownership category

akta.pro rank

Product category

Toys and Games

NAICS

Doll, Toy, and Game Manufacturing (339930), Hobby, Toy, and Game Retailers (45912), Software Publishers (51321)

SIC

Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944), Retail-Hobby, Toy & Game Shops (5945)

akta.pro primary industry

RC Model Kits & Parts (Cars, Drones, Boats, Planes) (CRALAKAI)

akta.pro secondary industries

Outdoor & Ride-On Toys Retail (CRALAFAC), Hobby & Model Kits Distribution (RC, Scale Models, Miniatures) (CRAOAMAD), PC Digital Game Stores & Launchers (MPAFACAA)

Keywords

• Licensed toy manufacturing
• Mobile game publishing
• Remote control cars
• Die-cast model cars
• IP licensing

Headquarters

HQ city

Shantou

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Toy Products Sales: Rastar Toys generates revenue through the manufacture and sale of RC cars, die-cast models, building block toys, ride-on cars, bicycles, robots, and outdoor cycling products. Products are sold through Amazon (US/UK), Tmall flagship stores, JD.com flagship stores, and export distribution to 120+ countries. Over 400 quality toy products are sold globally.
2. Game Publishing and Operations: Rastar Games publishes self-developed and licensed mobile games across major Chinese and international app stores. Revenue is generated through in-game purchases, downloads, and game publishing fees. Key titles include Legend of Three Kingdoms series, MapleStory R: Evolution, Ragnarok Dawn, Battlefield without Borders, and Time Raiders.
3. IP Licensing: Rastar holds IP licenses from major franchises including Three Kingdoms (from UserJoy), MapleStory (from NEXON Korea), Battle Through the Heavens, Ragnarok (from GRAVITY Korea), The Lost Tomb (from Nanpai Sanshu), and Q Yu Du Jia (from Beijing Mandarin Digital Publishing). These licenses are used for game development and publishing.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Rastar Group manufactures and sells licensed toy products (RC cars, die-cast models, building block cars, robots, ride-on vehicles, bicycles, and smart interactive toys) under 35+ world-renowned automotive brand IP licenses, and develops and publishes mobile games (strategy, MMORPG, card RPG, idle RPG) across all major Chinese and international app stores. The company operates two segments: RASTAR Toys (manufacturing) and RASTAR Games (development and publishing), with products exported to 120+ countries and games available in mainland China, Hong Kong, Macau, Taiwan, Japan, Korea, North America, and Europe.

Product overview

RASTAR Group (星辉互动娱乐股份有限公司, A-share code: 300043) operates two main business segments: RASTAR Toys (toy manufacturing) and RASTAR Games (game development and publishing). RASTAR Toys produces licensed remote control cars (RC Cars in scales from 1:8 to 1:32), die-cast model cars, building block assembling cars, robots (RS Police transforming robots, Space robot series), children's ride-on electric vehicles, and licensed bicycles/tricycles/scooters under brands including BMW, MINI, Land Rover, Ferrari, Lamborghini, Porsche, and others — with over 35 automotive brand licenses and 400+ toy products sold in 120+ countries. RASTAR Games develops and publishes mobile games including strategy titles (Legend of Three Kingdoms series, Battlefield without Borders), MMORPGs (Ragnarok Dawn, MapleStory: Will of the Alliance), card RPGs (Time Raiders), and idle RPGs (MapleStory R: Evolution). The company holds IP licenses for Three Kingdoms, MapleStory, Ragnarok, Battle Through the Heavens, Time Raiders, and The Lost Tomb. Games are distributed through Tencent, Huawei, Apple, Google Play, OPPO, vivo, Xiaomi, Honor, BiliBili, TapTap, Douyin, and HarmonyOS ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• RASTAR Toys: Toy brand focusing on RC cars, die-cast cars, ride-on cars, building block toys, baby toys and outdoor cycling products
• Rastar Games

Quantifiable outcome

• Over RMB 6.6 billion in cumulative business volume from the Legend of Three Kingdoms mobile game series
• +5 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

AI capability7 records

Feature6 records

Partnerships

22 partnerships are on record, tiered core.

• Xiaomi Games (Publishing Channel)coreChannel Partner/ Reseller/ Distributor · 17 December 2025Rastar Games maintains close cooperation with Xiaomi Games as a publishing channel. At the 2025 Xiaomi Human x Car x Home Partner Conference, Rastar Games won three major awards: Xiaomi Games 2025 Emerging Partner, Most Popular Game for Legend of Three Kingdoms: Strategizing the Nine Kingdoms, and Most Innovative Mini-Game for Time Raiders.
• BMW AGcoreOEM/ Whitelabel/ Licensing PartnerBMW AG grants Rastar Group official IP licensing for toy products including RC cars, die-cast models, children's bicycles, balance bikes, tricycles, and ride-on cars. Rastar Group holds the global exclusive authorization for BMW RC cars and children's bicycle series for over 10 years, representing one of the most significant automotive IP partnerships for Rastar Toys.
• Ferrari S.p.A.coreOEM/ Whitelabel/ Licensing PartnerFerrari S.p.A. grants official IP licensing for Ferrari-branded toy products including RC cars, die-cast models, ride-on cars, and children's cycling products. Rastar Group is a key partner and supplier of Ferrari toy products.
• Mercedes-Benz AG (Daimler AG)coreOEM/ Whitelabel/ Licensing PartnerMercedes-Benz AG grants official IP licensing for Mercedes-Benz branded toy products including RC cars, die-cast models, and ride-on cars.
• Audi AGcoreOEM/ Whitelabel/ Licensing PartnerAudi AG grants official IP licensing for Audi-branded toy products including RC cars and building block toys.
• Lamborghini (Automobili Lamborghini S.p.A.)coreOEM/ Whitelabel/ Licensing PartnerAutomobili Lamborghini S.p.A. grants official IP licensing for Lamborghini-branded toy products including RC cars, die-cast models, and ride-on cars.
• General Motors (Hummer/GMC)coreOEM/ Whitelabel/ Licensing PartnerGeneral Motors grants official IP licensing for Hummer EV toy products. The 1:10 Hummer EV RC Brick Car won the 2025 Canton Fair Design Innovation Award Bronze using this license.
• McLaren AutomotivecoreOEM/ Whitelabel/ Licensing PartnerMcLaren Automotive grants official IP licensing for McLaren-branded toy products including RC cars and die-cast models.
• PaganicoreOEM/ Whitelabel/ Licensing PartnerPagani grants official IP licensing for Pagani-branded toy products including building block cars.
• Porsche AGcoreOEM/ Whitelabel/ Licensing PartnerPorsche AG grants official IP licensing for Porsche-branded toy products including RC cars and die-cast models.
• MaseraticoreOEM/ Whitelabel/ Licensing PartnerMaserati grants official IP licensing for Maserati-branded toy products including RC cars and building block toys.
• Land Rover (Jaguar Land Rover)coreOEM/ Whitelabel/ Licensing PartnerJaguar Land Rover grants official IP licensing for Land Rover-branded toy products including RC cars, children's bicycles, tricycles, and balance bikes.
• Volkswagen AGcoreOEM/ Whitelabel/ Licensing PartnerVolkswagen AG grants official IP licensing for Volkswagen-branded toy products including RC cars and ride-on cars.
• Bentley MotorscoreOEM/ Whitelabel/ Licensing PartnerBentley Motors grants official IP licensing for Bentley-branded toy products including ride-on cars.
• BugatticoreOEM/ Whitelabel/ Licensing PartnerBugatti grants official IP licensing for Bugatti-branded toy products including RC cars and die-cast models.
• NEXON Korea (for MapleStory IP)coreOEM/ Whitelabel/ Licensing PartnerRastar Games holds IP licensing from NEXON Korea for the MapleStory franchise, launching MapleStory R: Evolution and MapleStory: Will of the Alliance in various markets. MapleStory has accumulated 180 million registered users worldwide with over USD 5 billion in global revenue.
• GRAVITY Korea (for Ragnarok IP)coreOEM/ Whitelabel/ Licensing PartnerRastar Games holds IP licensing from GRAVITY Korea for the Ragnarok franchise, publishing Ragnarok Dawn MMORPG mobile game. The Ragnarok IP is based on Ragnarok Online, retaining classic RO elements with innovative gameplay features.
• UserJoy (for Three Kingdoms IP)coreOEM/ Whitelabel/ Licensing PartnerRastar Games holds IP licensing from UserJoy for the Three Kingdoms strategy franchise, developing and publishing Legend of Three Kingdoms: Strategizing the Nine Kingdoms. This self-developed and published title features true RTS gameplay and has achieved over RMB 6.6 billion cumulative business volume across the series.
• Nanpai Sanshu (for Time Raiders IP)coreOEM/ Whitelabel/ Licensing PartnerRastar Games holds IP licensing from Nanpai Sanshu for the Time Raiders novel franchise, developing Time Raiders card RPG mobile game. The game adopts a Q-version model + realistic illustrations art style and reached No. 2 on the iOS Free Chart on its first day of launch.
• Huawei (HarmonyOS Ecosystem)coreTechnology or IntegrationRastar Games maintains close cooperation with Huawei for HarmonyOS ecosystem integration. Multiple Rastar Games titles have achieved deep HarmonyOS system adaptation with second-level rapid startup. Legend of Three Kingdoms: Strategizing the Nine Kingdoms was showcased multiple times at the HarmonyOS 6 Special Launch Event and won the Huawei Annual HarmonyOS Innovation Game award.
• Tencent (Publishing Channel)coreChannel Partner/ Reseller/ DistributorTencent is a key distribution channel for Rastar Games titles including Legend of Three Kingdoms: Strategizing the Nine Kingdoms, Battlefield without Borders, and MapleStory R: Evolution. Rastar Games maintains long-term close cooperation with Tencent's app store ecosystem.
• OPPO, vivo, Honor, BiliBili, TapTap, Douyin, Google (Publishing Channels)coreChannel Partner/ Reseller/ DistributorRastar Games maintains long-term close cooperation with mainstream game channels including OPPO Games, vivo Game Center, Honor Game Center, BiliBili, TapTap, Douyin, and Google Play for game distribution across mainland China and international markets.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• HoYoverse: HoYoverse develops and globally publishes mobile games, making it a direct game-category peer for Rastar's multi-platform, IP-based titles.
• Lilith Games: Lilith Games develops and publishes mobile strategy and RPG titles internationally, directly comparable to Rastar's mobile game business and platform distribution.
• Tamiya: Tamiya makes model kits, radio-controlled vehicles, and hobby products, directly overlapping Rastar's RC and scale-model car offering and serving a similar enthusiast customer base.
• Spin Master: Spin Master develops branded and licensed toys, including RC and collectible vehicles, giving it direct product and customer overlap with Rastar Toys.

Broad incumbents

• Hasbro: Hasbro operates broad toy and games franchises and uses brand licensing, making it a broad incumbent comparable to Rastar's licensed products and game portfolio.
• Mattel: Mattel is a global toy company with licensed-vehicle products including Hot Wheels, making it a broad incumbent comparable to Rastar's licensed car models, RC vehicles, and global toy distribution.
• NetEase Games: NetEase Games develops and publishes mobile and online games globally, overlapping with Rastar's licensed strategy and RPG publishing and international distribution.
• LEGO: LEGO is a global building-block toy company with strong brand and IP extension. Its building sets and recurring product ecosystem overlap with Rastar's licensed brick-car line, although Rastar is more vehicle-focused.
• Tencent Games: Tencent Games publishes and distributes mobile titles through a large ecosystem, comparable to Rastar's mobile game publishing and app-store channel strategy.
• Bandai Namco: Bandai Namco combines toy businesses with video-game publishing and IP monetization, making it a broad incumbent comparable to Rastar's integrated games-and-toy model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/rastar-group--a

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 RASTAR GROUP -A