POP MART(HK:09992) 21世纪经济报道·2025-08-19 12:13Core Viewpoint - The financial report of Pop Mart International Group for the first half of 2025 shows significant growth in revenue and profit, indicating strong performance and successful global expansion strategies [1][2]. Financial Performance - In the first half of 2025, Pop Mart reported revenue of 13.88 billion RMB, a year-on-year increase of 204.4%, and an adjusted net profit of 4.71 billion RMB, up 362.8% [1]. - The revenue and net profit for the first half of 2025 exceeded the total figures for the entire year of 2024 [1]. Regional Performance - Revenue breakdown by region shows: - China: 8.28 billion RMB, up 135.2% year-on-year [1]. - Asia-Pacific (excluding China): 2.85 billion RMB, up 257.8% [1]. - Americas: 2.26 billion RMB, up 1142.3% [1]. - Europe and other regions: 480 million RMB, up 729.2% [1]. Store Expansion - As of June 30, 2025, Pop Mart has opened a total of 571 stores across 18 countries, with 40 new physical stores and 105 new robot stores added in the first half of the year [1]. - In China, the number of offline stores increased by 12 to reach 443, generating offline revenue of 5.08 billion RMB, a year-on-year growth of 117.1% [2]. Online Sales - Online revenue reached 2.94 billion RMB, reflecting a year-on-year increase of 212.2%, with Douyin contributing 560 million RMB, up 168.6% [2]. IP Performance - The IP "THE MONSTERS," featuring LABUBU, generated 4.81 billion RMB, a growth of 668.0%, accounting for 34.7% of total revenue [4]. - Other IPs like MOLLY, SKULLPANDA, CRYBABY, and DIMOO each surpassed 1 billion RMB in revenue [4]. New IP Development - The opening of the HIRONO brand store in Shanghai contributed 730 million RMB in revenue, a growth of 197.0% [7]. - The new IP "Starry People" emerged as one of the fastest-growing, achieving 390 million RMB in revenue [7].