Guo Ji Jin Rong Bao·2025-08-20 14:34Core Viewpoint - The company aims to achieve significant revenue growth, projecting revenues of 200 billion yuan this year, with aspirations for 300 billion yuan, following a strong performance in the first half of the year [2][6]. Financial Performance - In the first half of the year, the company reported revenues of 138.8 billion yuan, a year-on-year increase of 204.4%, and adjusted net profit rose by 362.8% to 47.1 billion yuan, with a gross margin of 70.3%, up 6.3 percentage points from the previous year [6]. - Revenue growth was driven by substantial increases across all regions: China (82.8 billion yuan, +135.2%), Asia-Pacific (28.5 billion yuan, +257.8%), Americas (22.6 billion yuan, +1142.3%), and Europe & others (4.8 billion yuan, +729.2%) [6]. Market Expansion - The company has expanded its global presence, with a total of 571 stores and 2,597 robot stores worldwide as of June, including 443 stores in China, which saw a net increase of 12 stores from the previous year [7]. - The number of overseas stores reached 128, up from 58 a year earlier, with average revenue per store increasing by 99.3% [8]. Online Sales Growth - Online sales in the Americas surged by 1977.4% to 13.26 billion yuan, primarily through the company's official website and TikTok [9]. - The company is replicating its domestic online strategies in overseas markets, including the introduction of localized vending machine models [9]. Production Capacity - The monthly production capacity has reached approximately 30 million units, over ten times the capacity from the previous year, necessitating changes in production planning and automation [12]. - The company has improved operational efficiency by reducing the number of skilled workers needed for production lines through automation [12]. Intellectual Property Development - The company reported that 13 artist IPs generated over 1 billion yuan in revenue in the first half of the year, with significant contributions from key IPs such as THE MONSTERS and MOLLY [12]. - The company is cautiously developing its LABUBU IP, indicating strong market demand and plans for new product releases, including a Mini version [15][16].