There are two stocks by the name of Playmates listed on the Stock Exchange of Hong Kong.

Playmates Toys (HKEX:0869) manufactures physical toys of popular cartoons such as Frozen and Teenage Mutant Ninja Turtles (TMNT). Their toys are sold in Walmart, Target and Amazon with the U.S. being their biggest market.

Playmates Holdings (HKEX:0635) is the parent company of Playmates Toys (HKEX:0869). The former has a 50.85% stake in the latter. Besides taking a share of profits from the toy business, Playmates Holdings has a property investment business and its most prestigious property would be The Toy House. This building houses one of Apple’s flagship stores is Hong Kong.

We bought shares in Playmates Holdings in Jan 2017, where it was trading way below the value of their investment properties and the cash that they have. Essentially we got the toy