盲盒之王，业绩“爆”了！

Core Viewpoint - The article highlights the impressive mid-year performance of Pop Mart, showcasing its significant revenue growth and strategic global expansion efforts, positioning itself as a leading player in the new consumption sector [1][3]. Group 1: Financial Performance - In the first half of 2025, Pop Mart reported revenue of 13.876 billion yuan, a year-on-year increase of 204.4% [1][3]. - The company's pre-tax profit reached 6.157 billion yuan, up 401.2% year-on-year, while net profit attributable to shareholders was 4.574 billion yuan, reflecting a 396.5% increase [1]. - The revenue from various regions showed substantial growth, with Asia-Pacific revenue at 2.851 billion yuan (up 257.8%), Americas at 2.265 billion yuan (up 1142.3%), and Europe and other regions at 478 million yuan (up 729.2%) [3]. Group 2: Global Strategy and Market Expansion - Pop Mart aims to become a world-class consumer brand, actively pursuing group and international strategies [3]. - The company has expanded its operations to 37 countries, with 571 offline stores and 2,597 robot stores as of mid-2025 [6][7]. - In the Americas, the focus is on the U.S. market, while in Europe, the company is establishing regional headquarters to enhance its global presence [7]. Group 3: IP and Product Strategy - Pop Mart has evolved from a single blind box manufacturer to an "IP full industry chain operator," enhancing the commercial viability of its IPs [4]. - In the first half of 2025, 13 artist IPs generated over 100 million yuan in revenue, with THE MONSTERS family leading at 4.814 billion yuan [4]. - The company plans to explore and expand collaborations with licensed IPs, offering diverse products to meet consumer interests [5]. Group 4: Online Business and Membership Growth - Pop Mart is actively developing its online business, utilizing platforms like Shopee and Amazon to reach local consumers [8]. - As of June 30, 2025, the total number of registered members in mainland China increased from 46.08 million to 59.12 million, with member sales contributing 91.2% of total sales [8].