Zhong Guo Zheng Quan Bao·2025-10-21 12:12Core Viewpoint - The company, Pop Mart, announced a significant increase in overall revenue for Q3 2025, with a projected growth of 245% to 250% year-on-year, driven by strong performance in both domestic and overseas markets [1] Group 1: Revenue Growth - The revenue from the Chinese market is expected to grow by 185% to 190%, while overseas market revenue is projected to increase by 365% to 370% [1] - In Q3, the offline channels in China are anticipated to grow by 130% to 135%, and online channels are expected to see a growth of 300% to 305% [1] Group 2: Product and Channel Strategy - The company launched new IP products such as Mini Labubu and SP Unrest Theater, which, along with increased production capacity, contributed to the revenue growth in Q3 [1] - The company plans to balance product categories while continuously investing in new IP exposure and growth, ensuring a consistent consumer experience across different channels [1] Group 3: Organizational Changes and Global Expansion - In April, the company underwent its largest organizational restructuring in five years to enhance its global layout, which included adding new regions and strengthening its middle office [2] - The restructuring aims to promote globalization and streamline decision-making processes, allowing for more efficient responses to local market needs [2] - The overseas market revenue saw substantial growth, with the Asia-Pacific region increasing by 170% to 175%, the Americas by 1265% to 1270%, and Europe and other regions by 735% to 740% [2] Group 4: Future Outlook - The CEO expressed confidence in the growth of the North American and Asia-Pacific markets, projecting that their sales could match last year's domestic sales despite having fewer stores [3] - The company's ongoing globalization efforts have begun to yield positive results, indicating a successful initial phase of international expansion [3]