2025.08.26
JunHe recently served as the legal counsel to TOP TOY International Group Limited (TOP TOY) and assisted it in completing a strategic financing round led by Temasek. The post-money valuation of this financing stands at approximately HKD 10 billion, showcasing the market recognition of TOP TOY's business model, brand equity and global expansion roadmap amidst the rapid growth of the pop-culture toy business.
TOP TOY is a dedicated pop-culture toy brand under MINISO and was established in December 2020. It aims to build a toy experience and consumption hub for young people that has both artistic and commercial value. Since opening its first store in Guangzhou's Grandview Mall in December 2020, TOP TOY has rapidly expanded to over 80 cities nationwide, including Beijing, Shanghai, Shenzhen and Chengdu, covering more than 100 major core business districts. MINISO is a dual-listed company on the Hong Kong Stock Exchange and the New York Stock Exchange.
JunHe provided comprehensive legal services to TOP TOY in this transaction. These services included seller due diligence, the design and validation of the transaction structure, the formulation of employee incentive plans, the drafting of transaction documents and negotiation, as well as signing and closing.
The project was led by JunHe partner Mr. ZHANG, Ping (Pete). JunHe partners Ms. JIN, Hong (Cathryn), Mr. LAO, Chengzhe and Mr. Joe Wan were the primary handling partners.
