Lezi Tiancheng Seeks Hong Kong Listing, Revenue Up 36% in 2024

Beijing Lezi Tiancheng Culture Development Co., Ltd. (Lezi Tiancheng) has submitted an application to the Hong Kong Stock Exchange for a main board listing. The company is a leading IP toy company in China, with over 100 self-owned and licensed IP assets as of December 31, 2024. According to Frost & Sullivan, Lezi Tiancheng ranks second in China in terms of GMV for multi-category IP toy companies and is the third-largest IP toy company in China based on the same criteria.

Lezi Tiancheng is one of the few companies in the industry that operates across the entire value chain, from IP incubation and development to product design, flexible supply chain management, and omni-channel sales. The company's "IP Hub" strategy, multi-category operational capabilities, and full industry chain layout enable it to continuously launch popular authorized IP products such as Crayon Shin-chan and Tom and Jerry.

In 2024, Lezi Tiancheng's Crayon Shin-chan and Tom and Jerry product series ranked first in China for similar IP products in terms of GMV. The company's self-owned IP product series, such as the Beast Box Transforming Mecha series, PandaRoll Panda series, and Sleep series, are also popular among consumers. For example, the Beast Box IP has launched over 160 SKUs during the performance period, with a cumulative GMV of over 190 million yuan.

From a financial perspective, Lezi Tiancheng achieved revenues of approximately 463 million yuan, 482 million yuan, and 630 million yuan for the years 2022, 2023, and 2024, respectively. During the same periods, the company's annual losses and total comprehensive expenses were 1.708 million yuan, 71.934 million yuan, and approximately 122 million yuan, respectively.