Bloks Group, a company focused on building and role-playing toys, has seen its growth momentum shift significantly toward international markets in the first half of the year.
On August 12, Bloks Group released its unaudited interim results for 2026. During the first six months, the company's revenue grew 32.7% year-on-year to 1.776 billion yuan, while profit for the period rose 30.5% to 387 million yuan. Adjusted profit increased 25.1% to 401 million yuan.
Overseas revenue surged 228.5% year-on-year to 366 million yuan, up from 111 million yuan in the same period last year. This brought its share of total revenue to 20.6% from 8.3% previously. In the same period, revenue from the Chinese market grew 14.9% to 1.41 billion yuan.
Based on the financial data, overseas markets contributed approximately 58% of the company's new revenue growth in the first half.
Within this, revenue from the Americas jumped about 349% year-on-year to 198 million yuan, from 44 million yuan, accounting for roughly 54% of overseas revenue. Revenue from Asian markets (excluding China) increased around 111% to 121 million yuan.
Currently, the United States and Indonesia are the two highest-revenue overseas countries for Bloks Group.
The company attributes its overseas growth primarily to an expanded international market presence, achieved through strategies such as regional distribution networks, global e-commerce platforms, and localized user operations.
On the offline front, Bloks Group is continuing to deepen existing channels and explore new ones in the Americas, entering more markets in Asia, and using core countries in Europe as a base to expand into surrounding regions.
Online, the company has established a presence on platforms including Amazon, TikTok, Shopee, and Lazada, and also operates its own overseas independent website.
Bloks Group also collaborated with overseas channels to conduct 44 online and offline events, covering 8 countries and regions. Its overseas BFC creator competition attracted more than 6,600 participants, spanning 17 countries and regions.
The company's overseas social media accounts have accumulated nearly 6 million subscribers, while its official fan community app, BLOKEES, along with its overseas customer service and self-service parts replacement system, now cover 42 countries and regions.
From a product mix perspective, Bloks Group's overseas growth during this period remains largely driven by its building role-playing toys. In the first half, this category generated 348 million yuan in overseas revenue, a 212.5% year-on-year increase, accounting for approximately 95% of all overseas sales.
However, at the group level, Bloks Group has begun to extend its research and development for building role-playing products and its standardized parts system into more categories, while also targeting adult consumers and the lower price segment.
Its building vehicle toys, launched in November 2025, generated 186 million yuan in revenue in the first half, representing 10.4% of total revenue.
The weight of adult products has increased. As of the end of the first half, Bloks Group had 393 SKUs on sale for consumers aged 16 and above, with the revenue share from these products rising from 14.8% to 25%.
Low-priced products continue to serve as a customer acquisition tool. In the first half, revenue from Bloks Group's 9.9 yuan products reached 347 million yuan, accounting for nearly one-fifth of total revenue. Sales volume of these items amounted to 77.5 million units, representing nearly half of total sales volume.
Official data shows that among users who activated the Transformers Star Edition via the "Bloks Club" mini-program, 60% were new users, and the repurchase rate for this group exceeded 70%.
Nevertheless, the expansion in channels and products has also brought cost pressures.
In the first half, Bloks Group's cost of sales increased 43.3% year-on-year to 989 million yuan. Within this, the cost of goods sold rose 40.6%, while mold depreciation increased 64.3%.
The company stated that new SKUs require more high-precision, multi-cavity molds, and the related capital expenditure is amortized into costs during the period. Consequently, the company's gross profit margin fell from 48.4% to 44.3%, a decline of 4.1 percentage points, while the adjusted net profit margin decreased from 23.9% to 22.6%.
Overseas expansion has also increased operating expenses, such as warehousing costs.
For example, selling and distribution expenses rose 20.9% to 214 million yuan, of which marketing and promotion expenses increased by 30.5 million yuan, and professional service fees increased by 10.6 million yuan. The latter is primarily attributed to warehouse operating expenses associated with international market expansion.
Looking ahead, the key question is whether the company can successfully replicate its strategies for new categories, adult products, and price tiers in overseas markets, thereby using larger revenue scale to dilute its investments in molds and localized operations.
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