暴涨1400%牛股，造就“新首富”！

Core Viewpoint - The article highlights the significant wealth increase of Wang Ning's family, the founder of Pop Mart, which has surged to $20.8 billion, making them the new richest family in Henan province, surpassing the founder of Muyuan Foods [1][2]. Company Performance - Pop Mart's stock price has skyrocketed over 11 times since the beginning of 2024, with a peak increase of over 1400% from its lowest to highest price [2]. - In 2024, Pop Mart achieved record revenue of 13.04 billion yuan, a year-on-year increase of 106.9%, and an adjusted net profit of 3.4 billion yuan, up 185.9% year-on-year [3]. - The company's IP products, particularly LABUBU, have gained immense popularity, with some limited editions selling for tens of thousands of yuan [3]. IP Development - Pop Mart reported that four major IPs (THE MONSTERS, MOLLY, SKULLPANDA, and CRYBABY) each generated over 1 billion yuan in revenue, with THE MONSTERS surpassing 3 billion yuan [3]. - The company emphasizes its ability to create successful IPs, showcasing its confidence in future growth as it celebrates the 10th anniversary of LABUBU and the 20th anniversary of MOLLY [3]. Global Expansion - In Q1 2025, Pop Mart's overall revenue is expected to grow by 165%-170% year-on-year, with domestic revenue increasing by 95%-100% and overseas revenue soaring by 475%-480% [4]. - The company plans to expand its global presence, focusing on North America, Southeast Asia, and Europe, by opening physical stores in landmark locations and enhancing brand experience [4]. Industry Trends - The global toy market is projected to grow at an average rate of 5.34%, reaching nearly 1 trillion yuan by 2028, with China's toy market expected to grow at an average rate of 9.27% [5]. - The IP toy market in China is anticipated to grow from 57.8 billion yuan in 2025 to 91.1 billion yuan by 2028, with an average growth rate of 17.02% [5]. - The competitive landscape of the toy market is characterized by "dual-track competition," with traditional giants like LEGO and Bandai on one side and innovative Chinese brands like Pop Mart on the other [6].