公司簡介
布魯可是中國拼搭角色類玩具的領導者。公司擁有500余項專利、原創IP能力及約50個知名IP的非獨家授權，產品定位“好而不貴”。憑藉產品力與供應鏈優勢，保持成本競爭力並持續拓展品類。公司已建立多渠道銷售網路，2022年起主推以經銷商為核心的線下渠道。據弗若斯特沙利文資料，2023年公司GMV約18億元，同比增長超170%，在中國拼搭角色類玩具市場佔有率30.3%，拼搭類玩具市場佔有率7.4%。同期，中國拼搭角色類玩具市場規模58億元，占玩具市場5.5%、角色類市場14.3%、拼搭類市場24.4%。
2025年實現扭虧為盈， 研發能力得到系統性強化
2025年銷售收入達29.13億元（人民幣，下同），同比+30.0%，分系列看，變形金剛、奧特曼、假面騎士及英雄無限為公司前四大暢銷系列，分別實現收入9.51億元、8.15億元、3.31億元及2.64億元；分品類看，拼搭角色類玩具實現收入28.43億元，占比97.6%，同比+29.1%；拼搭載具類玩具及積木玩具實現收入0.70億元，占比2.4%，同比+77.0%；分渠道看，線下經銷實現收入26.37億元，占比90.5%，同比+27.8%，委託銷售實現收入2250萬元，占比0.8%，线上渠道實現收入2.53億元，占比8.7%，同比+62.3%，线上渠道增速領先於公司整體收入，發展勢頭強勁。經調整利潤為6.75億元，同比+15.5%；年內利潤為6.34億元，同比扭虧為盈。截至2025年底，公司研發團隊成員為618人，佔員工總數比例高達66.1%。公司擁有548項國內授權專利、24項海外授權專利和83項國內發明專利。2025年研發費用率為9.1%，同比+37.3%，公司研發能力得到系統性強化。公司圍繞用戶核心需求拓展品類，在載具、動物及換裝等主題取得顯著研發成果，產品矩陣持續豐富，市場回饋良好。報告期內，推出“布魯可積木車”系列，兼具易組裝與易改裝特點，結合多元IP題材與汽車文化，並採用自主智慧財產權的高密度材料；開發“自然集”動物主題玩具（如恐龍系列），通過“骨肉皮體系”實現拼搭、可動與精細皮紋的融合；推出換裝主題“綺遇記12分”系列，採用模組化素體及標準化關節，搭配布料服裝適配多種場景。
海外收入同比增長近4倍，全球化初顯成效
2025年，公司持續拓展海外市場並深化海外用戶運營，推出覆蓋亞太12個國家及地區的官方粉絲社區APP“BLOKEES”，旨在沉澱全球粉絲生態，支撐海外業務增長。海外銷售收入增至3.19億元，同比+近4倍。分地區看，亞洲（除中國外）收入增至1.33億元，同比+238.1%；美洲地區收入增至1.5億元，同比+804.1%。2025年美國與印尼為公司海外前兩大收入市場。
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本科主修市場行銷和英語，並於香港浸會大學獲得經濟學碩士學位。現為輝立証券持牌分析師，主要負責能源和公用事業等板塊的研究。曾在大型銀行、券商和資產管理公司工作，對於期貨和大宗商品衍生品領域擁有銷售、研究分析和市場推廣等工作經驗。 Margaret, a holder of a Bachelor`s degree in Marketing and English and a Master`s degree in Applied Economics from Hong Kong Baptist University, is currently employed as a licensed analyst at Phillip Securities. She specializes in conducting research focusing on the energy and utilities sectors. Prior to her current position, Margaret gained valuable work experience in a large bank, securities firm, and asset management companies. Her expertise lies in sales, research analysis, and marketing within the fields of futures and commodities derivatives.
