Lin Capital's portfolio company, Bluc, successfully launched its IPO on the Hong Kong Stock Exchange, establishing itself as a leader in China's building block role-playing toy industry.

Target Information

Lin Capital's portfolio company, Bluc, successfully went public on the Hong Kong Stock Exchange (HKEX) under the ticker 00325.HK on January 10, 2025. Bluc is recognized as the largest manufacturer of building block role-playing toys in China and has established an impressive portfolio of over 500 patents alongside its original intellectual property (IP) capabilities. The company has been awarded the title of "National Intellectual Property Advantage Enterprise" due to its innovation and commitment to advancing IP rights. Bluc collaborates with more than 50 globally recognized IP partners to provide a wide range of affordable building block toys that focus on quality and creativity, leading to rapid growth and market penetration.

Bluc’s toys are characterized by their accurate representation of popular IP characters, achieved through the combination of strong product and supply chain capabilities. This enables the company to maintain a cost advantage while diversifying its product offerings. The strategic partnerships with international IPs have allowed Bluc to create a rich product portfolio that appeals to a broad consumer base across various age groups and genders.

Industry Overview

The building block role-playing toy segment is among the fastest-growing categories within the global toy industry, boasting significant developmental prospects. Innovations in product design and superior supp