Core Viewpoint - TOP TOY International Group Limited has submitted its listing application to the Hong Kong Stock Exchange, with JPMorgan, UBS, and CITIC Securities as joint sponsors [1][3]. Company Overview - TOP TOY is recognized as the largest and fastest-growing潮玩 (trendy toy) collection brand in China, achieving a GMV of RMB 2.4 billion in 2024, with nearly 50% of revenue coming from self-developed products, the highest among Chinese潮玩 brands according to Frost & Sullivan [3][4]. - The company has established a comprehensive潮玩 industry chain platform since opening its first store in December 2020, demonstrating strong product design and IP operation capabilities that resonate with潮玩 enthusiasts [3][4]. Market Position - As a leader in the潮玩 collection brand sector, TOP TOY has built a highly recognized brand influence and possesses a large, active, and diverse customer base. It is the preferred潮玩 collection brand among consumers, as per Frost & Sullivan's consumer research [4]. - The company engages customers through private domain operations, multi-platform fan interactions, and content marketing on emerging social and content platforms, ensuring effective dissemination of quality content [4]. Membership and Customer Engagement - TOP TOY has developed a membership program with rich benefits to enhance customer loyalty and create a unique shopping experience, boasting over 10 million registered members by June 30, 2025, making it one of the companies with the largest member base in the潮玩 industry [4]. Financial Performance - The company reported revenues of approximately RMB 678.8 million, RMB 1.46 billion, RMB 1.91 billion, and RMB 1.36 billion for the six months ending June 30 in 2022, 2023, 2024, and 2025, respectively. The corresponding profits for these periods were approximately RMB -38.4 million, RMB 212.4 million, RMB 293.5 million, and RMB 179.7 million [5][6].
TOP TOY递表港交所 为中国规模最大、增速最快的潮玩集合品牌
Zhi Tong Cai Jing·2025-09-26 13:12