POP MART(HK:09992) 投资实习所·2025-08-22 03:33Group 1 - The core viewpoint of the article highlights the significant growth and success of Pop Mart's Labubu series, which is projected to exceed $1 billion in revenue this year, marking a 688% year-on-year increase, surpassing Barbie dolls [1] - Pop Mart's overall revenue increased by 204% year-on-year, with net profit rising by 362%, and a projected gross margin of 70.3% by 2025 [1] - The plush product category saw a staggering 1200% increase in revenue, reaching nearly $854 million, accounting for 44% of total revenue [1] Group 2 - By June 2025, over 40% of Pop Mart's revenue is expected to come from international markets, with the Americas, particularly the U.S., experiencing a remarkable 1100% year-on-year revenue growth, reaching $315 million [1] - The number of physical stores in the Americas nearly doubled to 41, making it the fastest-growing market for the company [1] - In the first half of this year, Pop Mart launched over 20 different plush products, aiming to replicate the success of Labubu [2] Group 3 - The article suggests that Pop Mart is pursuing a new cultural approach to globalization, differentiating itself from AI-related products that focus on productivity [3]