Nan Fang Du Shi Bao·2025-10-30 08:52Core Insights - Pop Mart has officially entered the Middle East market with its first store opening at Hamad International Airport in Doha, Qatar, which is also its first 24/7 operational store globally targeting international travelers [2] - The company aims to accelerate its globalization strategy, focusing on travel retail as a core direction for expansion, with plans to open more stores in tourist cities and airports worldwide [2] - Pop Mart has opened over 570 physical stores globally, including locations in Bali, Vietnam, France, and Singapore, positioning its IP products as popular travel souvenirs [2] Financial Performance - In the first half of the year, Pop Mart's overseas revenue reached 5.59 billion yuan, marking a year-on-year increase of 437.5%, significantly outpacing the 135.2% growth in its Chinese business [2] - Overseas business now accounts for 40.3% of total revenue, narrowing the gap with the Chinese business, which holds a 59.7% share [2] - For the third quarter, overseas revenue is projected to grow by 365%-370%, compared to a 185%-190% increase in the Chinese market [3] - The Americas region showed the highest growth rate, with revenue increasing by 1265%-1270%, followed by Europe and other regions at 735%-740%, and the Asia-Pacific region at 170%-175% [3]