8. On May 15, Bairui Toys in Luchuan County, Yulin City, Guangxi held an opening celebration ceremony. Bairui Toys is expected to have a total investment of 50 million yuan, and is expected to achieve an output value of more than 20 million yuan in the future, and is expected to recruit more than 300 workers.
9. After Yongshun Group, a core OEM factory of Mattel, announced the establishment of a factory in Vietnam, the company established a new factory in Chashan, Dongguan. Yifengtai Plastic Products (Dongguan) Co., Ltd. is affiliated to Yongshun Group, in September 2021 It was established in Dongguan Tea Mountain and will be opened in early 2023.
10. In July, Shenzhen Shenli Toy Factory announced its closure. The factory is a toy factory with a history of more than 38 years. The factory is located in Building 4, Pai 1, Xinqiao Third Industrial Zone, Baoan District, Shenzhen City, Guangdong Province. It is a toy manufacturing enterprise affiliated to Hong Kong Keely Toys Manufacturing Co., Ltd. The factory covers an area of 10,000 square meters and has a construction area of 20,000 square meters. There were thousands of people at its peak. The factory mainly focuses on injection molding electronic toys and has two injection molding workshops, a spray printing workshop, an electronic welding workshop, an electronic assembly workshop and two finished product assembly workshops. It mainly produces musical toys, telephone toys, educational toys, space toys, rocking series toys, etc. At the time of the collapse, many employee salaries and supplier arrears had not yet been settled. Many workers and suppliers gathered around the factory hoping for a proper solution.
11. On July 16, the groundbreaking ceremony of the Leizhou Industrial Cluster Area Infrastructure Support Facilities Construction Project (Phase I) and the Meida Plastic Electronic Toy Production Base Project was held grandly. The project has a total investment of 650 million yuan and will create employment for 5,000 people after reaching full capacity. This marks another fruitful result in Leizhou City’s investment promotion work and will lead Leizhou’s light industry into a new field.
12. The Huizhou branch of Shenzhen Xintongfu Manufacturing Industrial Co., Ltd. opened. The company is a Sino-US joint venture integrating industry and trade. It mainly produces products for export, mainly engaged in plastics, remote controls, electronic toys and plush sewing gifts and toys. etc., is a multi-functional enterprise integrating development, design, production and sales. Its products are exported to European and American countries. The company has a factory in Yongzhou, Hunan.
In August, Hasbro announced that it had finally sold eOne for US$500 million, but it did not give up on film and television. However, after Hasbro acquired eOne for US$4 billion at the end of 2019, the transaction became a sensation at the time.
In September 14., the American toy giant Funko encountered a crisis, with inventory backlog, the boss was forced to resign, continuous layoffs, and 30% of the number of SKUs were cut. The company will be sold.
15. In early October, Haba Sales GmbH & Co. KG, the world's largest wooden toy manufacturer, submitted a bankruptcy application to the Coburg District Court in Germany. The company, based in Bad Rodach (Coburg district), announced that a court had ordered temporary self-administration.
The Haba Family Group owns three brands: Haba, Haba Pro and Oko-o. The famous German toy manufacturer Haba is facing the crisis of self-bankruptcy. Through this process, the 85-year-old company aims to regain its former strength and establish a solid financial foundation for the long term.
16. On October 11, Spin Master announced that it had reached a final agreement to acquire Melissa & Doug, the world's largest wooden toy brand, for US$950 million in cash. The acquisition will solidify Spin Master's position as a leader in the children's entertainment industry and will bring complementary capabilities to early childhood toys by adding to Melissa & Doug's high-quality offering of open-ended, creative and developmental wooden toys.
17. On November 19, Mattel announced that it would close Foshan Sino-US Toy Factory ("MGY"). Mattel Sino-US Toy Factory was one of the first US-owned toy factories to enter production in mainland China. It was co-founded in 1984 by Mattel and the former Guanyao Town Government in Foshan, Guangdong. Production orders are expected to shift to Vietnam.
