Qi Lu Wan Bao·2025-08-20 06:49Core Insights - The founder of Pop Mart, Wang Ning, stated that the new LABUBU products this year are being released in a restrained manner, indicating strong existing demand and future value potential [1] - Wang Ning announced the upcoming release of a Mini version of LABUBU, which will expand its usage scenarios beyond just being attached to bags [1] - The revenue contribution from IPs is not a major concern for the company, as each IP has its unique characteristics [5] Revenue Performance - In the first half of the year, the revenue from LABUBU's category, THE MONSTERS, reached 4.81 billion yuan, accounting for 34.7% of total revenue [5] - Other IPs such as MOLLY, SKULLPANDA, CRYBABY, and DIMOO also surpassed 1 billion yuan in revenue [5] - The company's stock price increased by nearly 6%, approaching 300 HKD, with a market capitalization nearing 400 billion HKD, marking a historical high [5] Future Projections - Wang Ning expressed confidence that achieving 30 billion yuan in revenue this year is quite feasible, with a previous expectation of 20 billion yuan for 2025, reflecting a 50% year-on-year growth [7]