Di Yi Cai Jing·2025-08-20 04:21Core Viewpoint - The founder of Pop Mart, Wang Ning, expressed an optimistic outlook for the company's revenue, aiming for 20 billion RMB this year, with a belief that reaching 30 billion RMB is also feasible. He emphasized the importance of both revenue growth and the overall health of the company [1]. Financial Performance - In the first half of 2025, Pop Mart reported a revenue of 13.88 billion RMB, a year-on-year increase of 204.4%, and an adjusted net profit of 4.71 billion RMB, up 362.8%. This revenue surpassed the total for the entire year of 2024 [3]. - The report revealed performance across four regions: - China: 8.28 billion RMB, up 135.2% - Asia-Pacific: 2.85 billion RMB, up 257.8% - Americas: 2.26 billion RMB, up 1142.3% - Europe and others: 480 million RMB, up 729.2% [3]. IP Performance - The LABUBU IP, part of THE MONSTERS, generated 4.81 billion RMB in revenue, accounting for 34.7% of total revenue. Other IPs like MOLLY, SKULLPANDA, CRYBABY, and DIMOO also exceeded 1 billion RMB in revenue [4]. - The plush toy category achieved a revenue of 6.14 billion RMB, marking a significant shift as it surpassed the sales of figurines, driven by product innovation [4]. Online Sales Growth - Online channels saw rapid growth, generating 2.94 billion RMB, a year-on-year increase of 212.2%. The box machine sales contributed 1.13 billion RMB, up 181.9%, while content e-commerce platforms like Douyin generated 560 million RMB, up 168.6% [5]. - During the 618 shopping festival, Pop Mart's flagship stores ranked first in sales across major platforms, with Tmall achieving 660 million RMB, a growth of 230.7% [5]. Supply Chain and Product Development - The company is currently in a "catch-up" phase regarding production capacity, with plush toy output reaching 30 million units per month, ten times that of the previous year [5]. - A new Mini version of LABUBU, designed to be hung on mobile phones, is set to be released, expanding its usage scenarios [6].