Toymaker Bloks Group Ltd. (0325.HK) announced on Wednesday its revenue rose 32.7% year-over-year to 1.78 billion yuan ($263 million) in the first half of this year, while its profit climbed 30% to 387 million yuan.
The company’s online and offline sales both posted double-digit growth during the six-month period. Offline sales grew 31.4% year-over-year to 1.59 billion yuan, accounting for 89.7% of total revenue. Online revenue jumped by a faster 68.1% to 181 million yuan, making up 10.2% of the total. The company had 1,851 stock-keeping units (SKUs) on sale in the first half of the year, including 426 newly launched products.
Bloks posted triple-digit revenue growth overseas, with international sales soaring 228.5% year-over-year to 366 million yuan. The U.S and Indonesia were the two biggest countries among its international markets during the period.
Shares of Bloks opened up 6.2% at HK$63 on Thursday. The stock is down nearly 50% from its 52-week high.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
Bloks Group’s super-sized profit shows its toys aren’t just child’s play
- Involution in China consumer market sparks new ‘Races to the bottom’
-
Han’s CNC etches out triple-digit growth on AI infrastructure boom
3200.HK301200.SHE
- ATRenew revenue growth accelerates as it notches record profit
- Fast-rising toothpaste newcomer brushes up for IPO
- BRIEF: Smoore’s profit slides on rising costs, despite strong revenue growth
- BRIEF: Haina Intelligent returns to profit on strong sales growth
