Zheng Quan Shi Bao·2025-11-07 09:17Core Insights - The recent incident involving a live broadcast by Pop Mart has sparked significant discussion, leading to the dismissal of two staff members, although the company has stated that it will not terminate the employees involved in the incident [1][2]. Group 1: Company Performance - Pop Mart's stock price fell significantly by 5.882% as of November 7 [2]. - For the third quarter of 2025, Pop Mart reported an overall revenue growth of 245%-250% year-on-year, with the Chinese market growing by 185%-190% and overseas markets showing remarkable growth of 365%-370% [2]. - The Americas market experienced a year-on-year increase of over 1200%, while Europe saw a growth of over 700% [2]. Group 2: Market Expansion - Pop Mart opened its first store in the Middle East at Hamad International Airport in Doha, which operates 24/7, indicating a strategic focus on tourism-related retail as part of its global expansion [2]. - The company has established over 570 physical stores worldwide, emphasizing its commitment to expanding its international presence [2]. Group 3: Industry Insights - According to China International Capital Corporation (CICC), the Chinese market benefits from a rich variety of IP sources, including online literature, domestic animation, and mobile games, which provide fertile ground for IP development [2]. - The domestic collectible toy market is continuously growing, with consumers increasingly accepting creative and culturally rich IP derivatives, creating opportunities for both domestic and foreign IP [2].