Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/playmates-toys-ltd" target="_blank" data-smartkarma-citation="entities:2946:1" rel="noopener">Playmates Toys (869 HK)</a> just published its FY22 results showing a decrease in revenues of 19% but a consistent dividend of 2c HKD</li>
<li>More importantly, it shared more details about the TMNT upcoming movie launch</li>
<li>Reiterate thesis that upon TMNT relaunch Playmates toys could be a major beneficiary</li>
</ul>



Playmates Toys (869 HK) just published its FY22 results showing a decrease in revenues of 19% but a consistent dividend of 2c HKD
More importantly, it shared more details about the TMNT upcoming movie launch
Reiterate thesis that upon TMNT relaunch Playmates toys could be a major beneficiary


Playmates Toys: More Details of Upcoming TMNT Toys And... Another Dividend

<ul>
<li>
<a href="https://www.smartkarma.com/entities/playmates-toys-ltd" target="_blank" data-smartkarma-citation="entities:2946:1" rel="noopener">Playmates Toys (869 HK)</a> has been listed since 2008 and makes TMNT toys. It has traded as high as 4 HKD/share on the back of successful TMNT movie launches</li>
<li>Paramount is set to launch a highly anticipated Seth Rogen-produced, TMNT movie in August 2023. In 2013/2014 the stock went up 8x on the last successful TMNT movie launch</li>
<li>Playmates Toys trades at negative enterprise value, hence giving a large margin of safety option to bet on the success of a TMNT revival</li>
</ul>



Playmates Toys (869 HK) has been listed since 2008 and makes TMNT toys. It has traded as high as 4 HKD/share on the back of successful TMNT movie launches
Paramount is set to launch a highly anticipated Seth Rogen-produced, TMNT movie in August 2023. In 2013/2014 the stock went up 8x on the last successful TMNT movie launch
Playmates Toys trades at negative enterprise value, hence giving a large margin of safety option to bet on the success of a TMNT revival


Playmates Toys: Betting on Paramount's New Teenage Mutant Ninja Turtle (TMNT) Movie

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

<ul>
<li>The assembly character toy segment market size is not big and Bloks is already China’s largest player. So, there will be a day when the growth ceiling is reached.</li>
<li>Bloks’ business model is more similar to Pop Mart, rather than LEGO, but Bloks’ profitability is lagging behind both of them. The current high revenue growth may not be sustainable.</li>
<li>Pre-IPO valuation of Bloks reached RMB7.2 billion. Valuation of Bloks should be lower than Pop Mart. If Bloks’ valuation could reach the industry average after IPO, it is already good.</li>
</ul>


The assembly character toy segment market size is not big and Bloks is already China’s largest player. So, there will be a day when the growth ceiling is reached.
Bloks’ business model is more similar to Pop Mart, rather than LEGO, but Bloks’ profitability is lagging behind both of them. The current high revenue growth may not be sustainable.
Pre-IPO valuation of Bloks reached RMB7.2 billion. Valuation of Bloks should be lower than Pop Mart. If Bloks’ valuation could reach the industry average after IPO, it is already good.


Pre-IPO Bloks Group (PHIP Updates) - Some Points Worth the Attention

Hong Kong

Playmates Toys Limited design, develops, markets, and distributes toys. The Company's products include action figures, vehicles, dolls, plush, role play toys and interactive electronic toys.

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Playmates Toys (869 HK)

Playmates Toys: More Details of Upcoming TMNT Toys And... Another Dividend

Playmates and Paramount launched the first movie trailer of the new TMNT movie as well as the complete toy line up coming to consumers this summer.

Nicolas Van Broekhoven

Playmates Toys: Betting on Paramount's New Teenage Mutant Ninja Turtle (TMNT) Movie

Playmates Toys is strongly linked to the Teenage Ninja Mutant Turtles franchise owned by Viacom. A new Seth Rogen-produced movie is coming in...

Nicolas Van Broekhoven

Pre-IPO Bloks Group (PHIP Updates) - Some Points Worth the Attention

As China's largest assembly character toy player, Bloks faces growth ceiling/lagging profitability compared to peers. The key question is how to...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Playmates Toys: More Details of Upcoming TMNT Toys And... Another Dividend

Playmates and Paramount launched the first movie trailer of the new TMNT movie as well as the complete toy line up coming to consumers this summer.

Nicolas Van Broekhoven

Playmates Toys: Betting on Paramount's New Teenage Mutant Ninja Turtle (TMNT) Movie

Playmates Toys is strongly linked to the Teenage Ninja Mutant Turtles franchise owned by Viacom. A new Seth Rogen-produced movie is coming in...

Nicolas Van Broekhoven

Pre-IPO Bloks Group (PHIP Updates) - Some Points Worth the Attention

As ​China's largest assembly character toy player, Bloks faces growth ceiling/lagging profitability compared to peers. The key question is how to...

Xinyao (Criss) Wang

As China's largest assembly character toy player, Bloks faces growth ceiling/lagging profitability compared to peers. The key question is how to...