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Action doll toy market is fiercely competitive

by:Toysmax     2021-05-17

Zhitong Finance is informed that, recently, Playmate Group (00635) announced the first half of 2016 results. According to the announcement, its revenue decreased by 9.96% year-on-year to HK$726 million; the performance turned from profit to loss, and the net loss attributable to the company’s owners was HK$115 million; the loss per share was HK$0.53.

In the first half of the year, the turnover of Playstar Group's property investment and related businesses increased to approximately HK$121 million. The fair value of the revaluation of the group's investment properties is approximately HK$5.5 billion. The segment operating loss was HK$120 million.

Chen Junhao, Chairman of Playmate Group, said that the group remains optimistic about the long-term prospects of property investment and related businesses. The Group will continue to appropriately balance its investment property portfolio to achieve its strategic goals of capital appreciation and recurring income growth.

Zhitong Finance learned that in the first half of the year, the turnover of Playmate Toys (00869) was HK$595 million, a year-on-year decrease of 13.5%.

As for the above-mentioned decrease in turnover, Chen Junhao explained that this was mainly due to the fierce competition in the category of boy action doll toys.

Color Star Toys expects that the uncertain factors in the international market economy will increase in the second half of the year, and the fierce competition pressure will continue. However, it is worth mentioning that Playmates Toys stated that the toy business is basically affected by the seasonality of the industry, and different from the usual seasonal pattern in the past, the performance in the first half of the year benefited from the products that matched the 'Ninja Turtles Movie Sequel' . As the 'Ninja Turtles' business is always new and a new brand will be launched in 2017, Playmate Toys remains optimistic about its long-term prospects.

According to our understanding, Playmates Group has multiple operating businesses. The most important operating business is Playmate Toys. Its core business includes conception, design, marketing and global distribution of toys of well-known brands. Playmate Group is also engaged in property investment and related businesses.

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