POP MART(HK:09992) Zhong Guo Jing Ji Wang·2025-08-29 12:33Core Insights - The launch of the mini LABUBU series by Pop Mart was highly successful, with all stock sold out within minutes across multiple platforms [1][3] - The mini LABUBU figures are priced at 79 yuan each, with a complete set costing 1106 yuan, and sales figures indicate over 30 million units sold on Taobao, 15.5 million on Douyin, and 70 million on JD [3][5] - The resale market for these figures has seen significant price increases, with some selling for over 1000 yuan, and complete sets reaching prices between 1500 and 3200 yuan shortly after launch [4] Sales Performance - Pop Mart reported a revenue of 13.88 billion yuan in the first half of 2025, a year-on-year increase of 204.4%, and an adjusted net profit of 4.71 billion yuan, up 362.8% [5] - The sales of five key IPs, including THE MONSTERS and MOLLY, exceeded 1 billion yuan each in the first half of the year, with 13 IPs generating over 100 million yuan [5] Market Dynamics - Prior to the official launch, resale prices on secondary markets were already two to three times higher than retail prices, indicating strong demand [4] - The company has not established specific policies to control high-priced resales or scalping, but it advises customers to purchase through official channels to ensure product authenticity [4]