October 2026
Largest Toys & Games Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
POP MART, Bloks Group, Alpha, Shanghai Yaoji Tech and Rastar Group.
 | Pop Mart was founded in 2010 by entrepreneur Wang Ning and his partners to design, create, and sell pop-culture figure toys based on intellectual properties, or IPs. The company develops toy products by acquiring and self-incubating IPs, as well as collaborating with IP owners thorough exclusive and nonexclusive licensing agreements. Its products have gained widespread popularity in China and have rapidly expanded into overseas markets, such as Southeast Asia and North America, in recent years. To diversify its revenue streams, Pop Mart has also tapped into accessories, building blocks, and theme park operations. | $19 | -35% | $24B | $23B | 4.1x | 8.5x | ||
| Bloks Group Ltd is a assembly character toys company in China. Its Bloks System that combines standardization and individuality elements to create popular and fun assembly character toys, address consumers demand for toys that recreate the essence of IP characters, and deliver the joy of assembling. It has nearly 431 SKUs available for sale, including 116 SKUs designed for children under the age of six, 295 SKUs designed for consumers between the ages of six and 16, and 20 SKUs designed or consumers over the age of 16. | $8 | -26% | $2.1B | $1.6B | 3.8x | 13.4x | ||
| Alpha Group (Alpha Group Co., Ltd., 奥飞娱乐) is a Chinese animation, toy and entertainment company listed on the Shenzhen Stock Exchange since September 2009 under code 002292. It was founded in December 1993 by Cai Dongqing as Auldey Toys and later traded as Guangdong Alpha Animation and Culture before adopting its current name in 2016; its headquarters is in the Chenghai district of Shantou, Guangdong. The company creates and licenses animated IP, producing animated films and television series and distributing them through its media businesses, and it designs, manufactures and sells toys and building-block sets linked to its characters. Subsidiaries include Auldey Toys, Creative Power Entertaining, Alpha Pictures and Korea's David Toys and Entertainment and it has developed video games. Revenue comes from toy sales, IP licensing and content distribution. Cai Dongqing is chairman and general manager. | $1 | +12% | $2B | $2B | 5.5x | 71.7x | ||
| Shanghai Yaoji Technology Co Ltd, formerly Shanghai Yaoji Playing Card Co Ltd a Chinese card company principally engaged in the design, production, and sale of playing cards. It offers Wanshengda series products and Yao Ji series poker products. | $3 | -30% | $1.1B | $1.1B | 2.6x | 10.5x | ||
| Rastar Group is a Chinese company involved in the development, manufacturing, and sale of model cars in China. It also manufactures RC auto model, Die cast car, Ride-on products, and baby safety car seats. The company sells its products in China and also exports its products to the international countries. | $1 | -24% | $834M | $915M | 2.9x | 11.9x | ||
| Mubang High-Tech Co Ltd is a manufacturer which is specialized in the research, development, and production of educational plastic block toys and infant preschool block toys. It also engaged in the production and sales of precision non-metal molds, production and sales of pharmaceutical packaging materials, building block creative training, educational service consulting among others. | $1 | +11% | $523M | $585M | 10.1x | (6.1x) | ||
| Guangdong Qunxing Toys JSC Ltd is a China-based company engaged in developing, designing, producing and selling electrical toys. The company's main products include baby car series, children computer, baby toys, electric car series, mobile phone series, and others. | $1 | -16% | $449M | $429M | 6.1x | 116.7x | ||
| Cre8 Direct (Ningbo) Co Ltd is a China-based company principally engaged in the design, production and sales of paper-based products around the world. Its product lines span a vast number of categories including stationery, storage, office supplies, scrapbooking, paper crafting, party, D.I.Y., dated goods, card making, and children's crafting. | $2 | -48% | $365M | $426M | 1.3x | 15.6x | ||
| Median | $2 | -25% | $948M | $984M | 4.0x | 12.6x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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