智通财经获悉，8月20日，泡泡玛特(09992)召开2025中期业绩发布会，供应链负责人袁俊杰表示，泡泡 玛特毛绒品类成为爆款品类，得益于产业链的精密制造和双向协同，毛绒品类产能同比提升10倍，8月 产能突破3000万只。得益于3A供应链，泡泡玛特通过开发新材料、新工艺，从而制定标准持续提升质 量管理管理水平。在今年上半年，泡泡玛特供应链联合广州海关等机构共同发布了潮玩产品、周边产品 的相关标准。2025年上半年，泡泡玛特毛绒品类实现营收61.4亿元，同比增长1276.2%。 ...

泡泡玛特高管：正在探索中东、中欧及中南美等新兴市场。 本文源自：金融界AI电报 ...

Group 1 - The core viewpoint is that despite the popularity of LABUBU, its sales revenue only accounts for about 35% of the total, indicating challenges in production capacity for the second half of the year [1] - The current monthly production capacity is over ten times that of the same period last year, highlighting significant growth in production capabilities [1] - The company emphasizes that lean production automation is key to enhancing production capacity from a technical perspective [1] Group 2 - The stock of Pop Mart experienced a nearly 4% increase during trading, recovering from a previous drop of over 4% [1]

Group 1 - The core viewpoint is that despite the popularity of LABUBU, its sales revenue only accounts for about 35% of the total, indicating challenges in production capacity for the second half of the year [1] - The current monthly production capacity is over ten times that of the same period last year, showcasing significant growth in production capabilities [1] - The company emphasizes that lean production automation is key to enhancing production capacity from a technical perspective [1] Group 2 - The stock of Pop Mart experienced fluctuations, initially dropping over 4% before rising nearly 4% during trading [1]

Core Insights - Bubble Mart reported a significant increase in revenue and profit for the first half of 2025, with revenue reaching 13.88 billion yuan, a year-on-year growth of 204.4%, and adjusted net profit of 4.71 billion yuan, up 362.8% [1] - The company's gross margin improved to 70.3%, an increase of 6.3 percentage points compared to the previous year, marking multiple historical highs in various metrics [1] Group 1 - The production capacity for plush products reached 30 million units in August, which is ten times the capacity of the same period last year [1] - The company emphasizes a vertically integrated supply chain, ensuring that any directive or artistic idea is seamlessly communicated across thousands of production lines and a workforce of over 100,000 [1] - The company is focusing on lean production automation to enhance capacity and meet the growing demand from fans and consumers [1] Group 2 - The founder of Bubble Mart, Wang Ning, stated that the company aims to sell 10 million LABUBU units each month, indicating a demand that exceeds the current supply chain growth [2] - Wang Ning mentioned that production capacity is being increased monthly, with a doubling of capacity from the previous month, although strict quality control limits the extent of this increase [2]

Core Viewpoint - Pop Mart's production capacity has significantly increased, now exceeding ten times that of the same period last year, driven by lean production automation and accurate sales forecasting [1] Group 1 - Pop Mart's Vice President Yuan Junjie announced the current monthly production capacity is over ten times that of the same month last year [1] - The company attributes its production capacity enhancement to lean production automation techniques [1] - To meet the demands of fans and consumers, the company emphasizes the importance of aligning actual demand, sales forecasts, and production plans [1]

新浪讯 8月20日上午消息，泡泡玛特2025年中期业绩发布会在香港举行。泡泡玛特创始人、董事长兼 CEO王宁表示，"很高兴能够在香港跟大家见面，回顾过去的半年是很特别的半年，我觉得这半年真的 有我们很多努力的结果，也有很多我们想象不到的惊喜。" 王宁表示，"值得高兴的不只是业绩，还有我们整个海外全球化的成功，以及整个IP平台更进一步的发 展和健康化。当然，还有大家熟知的LABUBU进一步扩圈，成为了世界级的IP。"（闫妍） 来源：新浪网 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 8月19日，泡泡玛特国际集团发布2025年半年报。财报显示，上半年泡泡玛特营收138.8亿元（人民币， 下同），同比增长204.4%，经调整净利润47.1亿元，同比增长362.8%。半年营收突破百亿，净利润超 2024全年，集团业绩再创新高。 ...

Group 1 - The core message of the news is the impressive financial performance of Pop Mart in the first half of 2025, highlighting significant revenue and profit growth [2][3] - Pop Mart reported a revenue of 13.88 billion yuan, representing a year-on-year increase of 204.4% [3] - The adjusted net profit for the first half of 2025 reached 4.71 billion yuan, showing a remarkable year-on-year growth of 362.8% [3] Group 2 - The company achieved a revenue exceeding 10 billion yuan and a net profit surpassing the total for the entire year of 2024, marking a new high in its performance [3] - The CEO emphasized the success of the company's global expansion and the further development of its IP platform, indicating a strategic focus on international growth [3] - The LABUBU brand has expanded its reach, positioning itself as a world-class intellectual property [3]

IP运营与创意设计是推动泡泡玛特发展的关键因素。泡泡玛特IP分为艺术家IP和授权IP。报告期内，泡 泡玛特的艺术家IP的收入占比由去年上半年的81.0%上升到今年上半年的88.1%。艺术家IP收入从去年上 半年的36.88亿元，上升至今年上半年的122.29亿元，增长了231.6%。（智通财经） 【#LABUBU带动泡泡玛特半年净赚45.74亿#】#泡泡玛特年内股价涨约200%# 8月19日，泡泡玛特 (09992.HK)发布今年上半年中期业绩报告。期内，该公司收益138.76亿元，同比增长204.4%；拥有人应 占溢利45.74亿元，同比增长396.5%。#泡泡玛特上半年营收138.8亿元# ...

Core Viewpoint - Pop Mart's adjusted net profit for the first half of 2025 surged by 367% year-on-year to 4.66 billion RMB, driven by strong overseas market performance and the success of its IP matrix, particularly the new IP "Twinkle Twinkle" which generated 389 million RMB in sales within six months [1][2][9]. Group 1: Financial Performance - Adjusted net profit reached 4.66 billion RMB, exceeding previous forecasts by 4% [2]. - Total revenue increased by 204% to 13.9 billion RMB, aligning with market expectations [2]. - Gross profit margin improved to 70.3%, up 6.3 percentage points from the previous year, while net profit margin rose to 33.0%, an increase of 12.8 percentage points [11]. Group 2: Overseas Market Expansion - Overseas sales, including Hong Kong and Macau, skyrocketed by 440% to 5.59 billion RMB, contributing approximately 50% to total group sales [3][4]. - The average sales per store in overseas markets are estimated to be four times higher than those in mainland China [3]. - Online sales in overseas markets increased significantly, with the proportion rising from 23.2% to 45.8% [3]. Group 3: IP Performance - The flagship IP Labubu saw sales grow by 668% to 4.81 billion RMB, accounting for 34.7% of total sales [7]. - The new IP "Twinkle Twinkle" achieved remarkable sales of 389 million RMB within its first six months, outperforming previous new IP launches [9]. - Crybaby, another established IP, ranked fourth in sales but experienced a 248% year-on-year growth, making it the second-fastest growing IP [10]. Group 4: Future Catalysts - The company is set to launch a collaboration with Uniqlo on August 22, which is expected to drive further sales [12][14]. - Potential inclusion in the Hang Seng Index could increase demand significantly, with estimates suggesting around 420 million USD in increased demand if added [12][14]. - Upcoming releases include the first season of "Labubu & Friends" animation and new product launches, which are anticipated to boost sales [12][14].