POP MART(HK:09992) IPO早知道·2025-07-21 08:19Core Viewpoint - Pop Mart aims to establish itself as a deeply rooted enterprise, akin to a tree, leveraging China's rich culture, strong manufacturing capabilities, and vast market potential [2][19]. Group 1: Company Development and Strategy - Pop Mart has pioneered the trendy toy category in China, previously known as designer toys, and has significantly promoted this culture through events like the Beijing International Trendy Toy Expo [6]. - The company reported a sales figure exceeding 3 billion yuan for its popular IP, Labubu, in the previous year, indicating its rapid growth and international recognition [7]. - Pop Mart's strategy involves transitioning from merely selling products to selling culture, aiming to create high-value products that resonate globally [8]. Group 2: Market Expansion and Internationalization - The company anticipates that its overseas revenue will surpass domestic sales by 2025, with a projected revenue of 5.07 billion yuan in 2024, reflecting a year-on-year growth of 375.2% [12][13]. - Pop Mart's international expansion is supported by China's robust manufacturing and market advantages, allowing it to serve as a platform for global artists [14]. - The company emphasizes a gradual and focused approach to international growth, prioritizing quality and local adaptation over rapid expansion [15]. Group 3: Cultural and Artistic Integration - The founder believes in the power of design and beauty as a driving force for industry growth, suggesting a shift from mere existence to a focus on aesthetic value [21]. - Pop Mart's marketing strategy is rooted in cultural expression, utilizing blind box sales as a unique language to engage consumers [10]. - The company aims to balance artistic uniqueness with commercial viability, striving to create a respected brand that conveys beauty and warmth [18].