Actively Promoting Intelligent Transformation Strategy: Interview with Chen Chuanghuang, Chairman of Rastar Group

Recently, the 36th Shenzhen International Toy and Education Fair (referred to as "Toy & Edu China") was grandly held in Shenzhen, where Rastar Group Chairman Chen Chuanghuang was interviewed by China Securities Journal.

 

 

Below are excerpts from China Securities Journal’s report titled “Actively Promoting Intelligent Transformation Strategy: Interview with Chen Chuanghuang, Chairman of Rastar Group”

 

During the 2024 Shenzhen International Toy Fair, Chen Chuanghuang, Chairman of Rastar Group, stated in an exclusive interview with a China Securities Journal reporter that the company will actively promote its strategic shift towards intelligent transformation. They aim to persist in the high-quality development path of intelligent toy manufacturing, continuously explore overseas markets, and expand their brand influence, aspiring to make "RASTAR" a global benchmark in the toy industry.

 

Implementing an Innovation-Driven Development Strategy

 

At the Rastar Group booth, the latest remote-controlled cars, static car models, and baby toys attracted significant interest from both domestic and international buyers. The booth was bustling with activity, and over ten staff members were busy enthusiastically introducing products and negotiating with buyers. The company showcased the Audi RS Q e-tron remote-controlled car, which garnered widespread attention upon its debut. According to a staff member, Audi was the first brand to use an electric racing car to challenge the Dakar Rally, winning the first championship in the 2024 Dakar Rally with this model. The remote-controlled car, officially licensed by Audi, boasts a high degree of realism, simulating acceleration, smooth drifting, and wheel changes.

 

Another highlight at Rastar Group’s booth was the Ferrari 499P, the champion car from the 24 Hours of Le Mans, which also received great enthusiasm. This model, officially licensed by Ferrari, features a realistic Le Mans race car design, with visible interiors and manually operable double side doors, faithfully replicating the details of the race car, which has been well-received by enthusiasts.

Chen Chuanghuang emphasized that in product research and innovation, Rastar Group has always been market-oriented, leveraging their research foundation and IP assets to systematically expand into new categories. He highlighted that the company places great importance on toy product research and innovation, integrating it into their development strategy. This year, they will deepen the implementation of their innovation empowerment strategy, focusing on the development and innovation of toy products, staying aligned with market trends, and expanding into new product categories to enrich their product lineup.

To date, Rastar Group holds authorizations from over 35 globally renowned automotive brands and owns more than 260 patents. "In the future, the company will accelerate the pace of intelligent transformation in toy manufacturing, further explore overseas markets, and continue to expand our brand influence, aiming to establish 'RASTAR' as a globally benchmarked Chinese leading toy brand," said Chen Chuanghuang.

Advancing Toy + AI Integration

 

Founded in 2000 and listed on the Growth Enterprise Market in January 2010, Rastar Group’s main businesses include football clubs, games, and toys. In the toy sector, the company focuses on the research, production, and sales of dynamic and static car models, robots, baby toys, building block assembly toys, and outdoor riding products. Currently, they offer over 400 high-quality toy products that are exported to more than 120 countries and regions, with "RASTAR" becoming an internationally recognized toy brand.

 

At the international toy fair, the rapid advancement of artificial intelligence and other technologies has made technological innovation and its application a common goal among many toy companies. According to Chen Chuanghuang, the rapid development of AI and other technologies is profoundly shaping the toy industry. He noted that the company has been closely monitoring the impact of cutting-edge technologies like AI on the toy industry. As technology continues to evolve, AI will significantly influence the form, interaction, and marketing of toy products. The company aims to explore the integration of advanced technologies with their products, providing users with richer and more immersive entertainment experiences.

 

Currently, Rastar Group has incorporated VR remote control and voice control technologies into their dynamic toy series and plans to further integrate AI technologies into more products and applications, launching more intelligent toy products.

 

Continuously Enhancing Brand Influence

 

According to announcements, in 2022, Rastar Group’s toy and derivative business achieved a main business income of 376 million yuan, an 8.05% increase from the previous year. The company expects a profit of 26-39 million yuan for 2023, reflecting a 108.38%-112.56% increase from the previous year. In the toy sector, income and profit have remained stable due to the optimization of the product structure and active marketing strategies.

Chen Chuanghuang noted that despite the international toy market's recent sluggish performance, the company's toy export business has continued to develop steadily. Looking ahead, the company will expand the categories of car model authorizations, deepen the construction of channel systems, and solidify its channel advantages. They will also actively explore overseas markets, uncover emerging market opportunities, and continuously expand their brand influence, aiming to make "RASTAR" a global benchmark in the toy industry.

 

To further enhance brand influence, Rastar Group has actively expanded IP licensing partners and product categories in recent years, obtaining licenses from over 35 world-renowned automotive companies, making it one of the leading toy derivative manufacturers in China. Additionally, the company has become a significant partner for brands like BMW and Ferrari and holds trademark intellectual property rights in over 110 countries and regions.

In terms of channel system construction, Rastar Group participates in major international and professional exhibitions such as the Nuremberg Toy Fair, Hong Kong Toy Fair, Canton Fair, and Shanghai Toy Fair, constantly expanding its customer base and promoting its brand. They maintain long-term and stable cooperation with well-known toy agents in various countries and regions. Moreover, the company extends its brand reach through leading e-commerce platforms like Amazon, JD.com, and Tmall, and emerging private and content e-commerce platforms like Xiaohongshu, Dewu, and TikTok, deepening connections with end consumers, increasing brand loyalty and trust, and further enhancing brand influence.

 

Additionally, the company remains user-centric, maintaining a keen awareness of market dynamics, continuously exploring the needs of existing and emerging regions, and launching products tailored to target markets. Chen Chuanghuang mentioned that the company has always been alert to opportunities in toy sub-sectors. In 2020, the company seized the opportunity to enter the building block toy market. In the future, they will continue to monitor market trends, focusing on their strengths while actively exploring new opportunities, continually innovating in dynamic car models, static car models, and outdoor riding series, and diligently working in new areas.