POP MART(HK:09992) Mei Ri Jing Ji Xin Wen·2025-03-26 09:01Core Insights - Pop Mart reported a significant increase in net profit for 2024, reaching 3.4 billion yuan, a year-on-year growth of 185.9% [1][3] - The company anticipates a sales growth of over 50% in 2025, aiming for total sales to reach 20 billion yuan and overseas sales to exceed 10 billion yuan [4] Financial Performance - In 2024, Pop Mart achieved revenue of 13.04 billion yuan, a year-on-year increase of 106.9% [1][3] - Revenue from mainland China was 7.97 billion yuan, up 52.3%, while overseas and Hong Kong, Macau, and Taiwan revenue reached 5.07 billion yuan, soaring 375.2% [1][3] - The overseas revenue accounted for 38.9% of total revenue, with Southeast Asia contributing 2.4 billion yuan, a staggering growth of 619.1% [3] Business Expansion - Pop Mart added 38 new offline stores in mainland China, bringing the total to 401, and increased the number of robot stores to 2,300 [3][4] - Offline store revenue grew by 43.9% to 3.83 billion yuan, while robot store revenue increased by 26.4% to 700 million yuan [3] Product and IP Development - In 2024, four major IPs generated over 1 billion yuan each, with THE MONSTERS surpassing 3 billion yuan in revenue [3] - The plush toy category saw explosive growth of 1,289%, while the share of figurine products dropped to 53.2% [3] Online Sales Growth - Online channels also experienced significant growth, with revenue from box machines reaching 1.11 billion yuan, up 52.7% [4] - The Tmall flagship store generated 630 million yuan, a 95% increase, and self-operated live streaming revenue reached 600 million yuan, growing by 112.2% [4] Strategic Outlook - The chairman and CEO of Pop Mart indicated that the company's international strategy has been successfully implemented, becoming a key growth driver [4] - The management is confident in achieving substantial growth in 2025, particularly in overseas markets [4]