Core Viewpoint - Beijing Pop Mart Cultural and Creative Co., Ltd. has expanded its business scope to include retail of daily household appliances, home appliances, daily necessities, and paper products [1][2]. Company Information - Beijing Pop Mart Cultural and Creative Co., Ltd. was established on October 20, 2010, with a registered capital of 200 million RMB [2][3]. - The company is wholly owned by POP MART (HONG KONG) HOLDING LIMITED [2]. Business Expansion - The recent change in business scope allows the company to engage in the retail of daily household appliances, home appliances, daily necessities, and paper products [1][3]. - The company is actively recruiting talent in the small appliance sector, with salaries ranging from 12,000 to 45,000 RMB, indicating a significant investment in this area [3]. Recruitment and Talent Acquisition - Job postings for positions related to refrigerators and small appliances have generated considerable public interest, with specific experience requirements for products like coffee machines and electric kettles [3]. - The recruitment efforts suggest that the company is pursuing A+ level investment projects in the small appliance sector [3].

Core Viewpoint - MINISO has recorded a profit decline for the first time in four years, but management remains confident, and investment banks view the operational data positively [1][4]. Financial Performance - In the first half of 2025, MINISO achieved revenue of 9.393 billion yuan, a year-on-year increase of 21.1%, and operating profit of 1.546 billion yuan, up 3.4%. However, net profit fell to 906 million yuan, a decrease of 23.1% [1]. - The decline in net profit is primarily attributed to losses from its investment in Yonghui Supermarket, which reported a total revenue of 29.948 billion yuan, down 20.73%, and a net loss of 241 million yuan [4][5]. Operational Highlights - MINISO's same-store sales showed positive growth, and domestic business performance exceeded expectations, while overseas operations expanded steadily [1][7]. - As of June 30, 2025, MINISO had a total of 7,612 stores globally, with 4,305 in mainland China and 3,307 overseas, reflecting a net increase of 30 and 94 stores respectively in the second quarter [7][10]. Future Growth Expectations - Management expects group revenue to grow by 25%-28% in the third quarter, with adjusted operating profit projected to increase by double digits [7]. - For the full year 2025, MINISO anticipates revenue growth of no less than 25%, with adjusted operating profit expected to be between 3.65 billion and 3.85 billion yuan [7]. IP Development Strategy - MINISO is focusing on developing its own IP, aiming to replicate the success of Pop Mart, and has signed contracts with nine promising original toy artists [9][12]. - The company believes that enhancing its own IP will create a sustainable growth driver and differentiate its offerings in the market [9][12]. Business Model Comparison - Unlike Pop Mart, which is cautious about store expansion, MINISO relies heavily on a partner system for rapid growth, with a significant number of partner stores compared to its directly operated stores [10][11]. - MINISO's product offerings are perceived as more accessible compared to Pop Mart's, which may affect brand perception and pricing power if not managed carefully [11][12].

Group 1 - The 2025 Taiwan Tourism Expo Autumn Exhibition features popular mainland潮玩 (trendy toys) IPs, attracting significant attention from attendees [1][3][6] - The theme "Travel with潮玩" is highlighted, with the popular IP "星星人" (Star Person) as the main visual, creating multiple immersive exhibition areas [1][3][6] - The event runs from August 22 to 25, organized by the Cross-Strait Tourism Exchange Association Taipei Office in collaboration with Pop Mart [1][3] Group 2 - The exhibition showcases a growing trend among young people in both Taiwan and mainland China, who engage in activities like unboxing blind boxes and collecting潮玩 IPs [3][6] - Attendees express strong emotional connections to潮玩, viewing them not just as collectibles but as items that enhance their daily lives and provide comfort [3][4] - The event aims to deepen the emotional connection between young people and潮玩 IPs, enriching their spiritual world and promoting the beauty of life [6]

. QD 77 0-0 0.0 A t n w 1.4 n al 30 100 N 7019 (0) 3 088 (0.0) 07 . 4 no etti 0 6.07 W BESC 01 = 16 P 0.0 C 0.0 t 0.0) C 01 46 48 P le 同时，泡泡玛特还官宣了THE MONSTERS 心底密码系列-字母挂件盲盒新品，产品分为A/B两端，各含 14个常规款，1个隐藏款，常规款概率是1：14，隐藏款概率为1：168。该系列单个盲盒售价为59元，整 套售价为826元。线上发售时间为8月28日22：00，线下发售时间为8月29日。（闫妍） 新浪科技讯 8月22日晚间消息，泡泡玛特正式官宣mini版LABUBU新品，产品分为A/B两端，各含14个 常规款，1个隐藏款，常规款概率为1：14，隐藏款概率为1：168。单个盲盒售价为79元，整套售价为 1106元。新品线上发售时间为8月28日22：00，线下发售时间为8月29日。 责任编辑：何俊熹 ...

Core Insights - The collaboration between the Cross-Strait Tourism Exchange Association and Pop Mart at the 2025 Taiwan Tourism Expo aims to enhance tourism experiences through immersive pop culture [1][2] - Pop Mart's theme area features eight exhibition booths centered around its popular "Starry People" IP, attracting significant public interest and engagement [1] - The presence of over 10 Pop Mart stores in Taiwan, including a flagship store in Taipei, highlights the brand's growing popularity among young consumers [1] Group 1 - The 2025 Taiwan Tourism Expo is held from August 22 to 25 in Taipei, showcasing the theme "Travel with Trendy Toys" [1] - Pop Mart's Vice President, Chen Xiaoyun, emphasizes the strong consumer enthusiasm among young people for trendy toy IPs, aiming to deepen emotional connections and enhance their quality of life [1][2] - The Pop Mart flagship store in Taipei, exceeding 700 square meters, has become a popular gathering place for local youth [1] Group 2 - The collaboration between the Cross-Strait Tourism Exchange Association and Pop Mart seeks to leverage the synergy between trendy toy IPs and tourism, encouraging Taiwanese citizens to visit Pop Mart's city park in Beijing [2] - The immersive experience provided by Pop Mart's city park is highlighted as a significant attraction for consumers, enhancing the appeal of trendy toys [2]

8月22日傍晚，泡泡玛特官宣"迷你版LABUBU" （THE MONSTERS心底密码系列） 将于8月28日22点线上开售、8月29日线下开售。 产品分为A/B两端，各含14个常规款，1个隐藏款，常规款概率为1:14，隐藏款概率为1:168。 区别于17厘米高、单价99元一只的常规版 LABUBU搪胶毛绒公仔， 迷你版LABUBU单价79元，整套售价为1106元。 THE MONSTERS 心底密码系列 -搪胶毛绒植件盲盒发售信息 (A-M)(N-Z) 线上发售时间：2025年8月28日22:00 (线上具体发售平台以平台信息为准) 线下发售时间：2025年8月29日 (线下发售具体时间以商场实际开业时间为准) 产品信息：THE MONSTERS 心底密码系列-搪胶毛绒挂 件盲盒(A-M)/(N-Z)各含14个常规款，1个隐藏款，常规款 概率是1:14,隐藏款概率为1:168。该系列单个盲盒售价为 79元,整套售价为1106元。 温馨提示：如到店取订单约满,可能会导致门店库存不足 无法到店直接购买,建议您优先选择线上渠道购买。 下载财联社APP获取更多资讯 准确 快速 权威 专业 7x24h电报 头条新闻 实 ...

Core Viewpoint - The Hang Seng Index Company announced the quarterly review results, including Pop Mart International Group Co., Ltd. in the Hang Seng Index, marking its first inclusion, alongside China Telecom Co., Ltd. - H shares and JD Logistics Co., Ltd. [3][4] Group 1: Company Inclusion in Index - Pop Mart International Group Co., Ltd. has been included in the Hang Seng Index's China Enterprises Index, increasing the number of constituent stocks from 85 to 88, effective September 8, 2025 [3]. - This marks the first time Pop Mart has been included in the Hang Seng Index, having previously been listed as a potential candidate multiple times [4]. Group 2: Financial Performance and Market Position - As of August 22, Pop Mart's stock price was HKD 320.4, with a total market capitalization exceeding HKD 430 billion [4]. - The company has seen a stock price increase of over 258% year-to-date [4]. - In the first half of 2025, Pop Mart's IP LABUBU and other major IPs generated over HKD 1 billion in revenue, with five major IPs exceeding HKD 1 billion in total revenue [4].

Core Viewpoint - The discussion of "consumption downgrade" has been replaced by the consensus of "consumption stratification," indicating a shift in consumer behavior towards valuing experience, identity, and future potential rather than merely seeking low prices [3][4]. Group 1: Consumer Behavior Trends - Consumers are increasingly emphasizing "value for money" rather than just low prices, showing a willingness to pay for "emotional value" in areas like tea drinks and supermarkets [3][4]. - Experience consumption is a major category for younger consumers, with activities such as travel, concerts, and outdoor events being prioritized [3][4]. - The new consumption trends are characterized by a focus on emotional and practical values, leading to the emergence of new economic sectors like toy economy, pet economy, and cultural creative economy [4]. Group 2: New Consumption Landscape - The retail sales of consumer goods reached 24.55 trillion yuan in the first half of the year, with a year-on-year growth of 5.0%, indicating steady growth in the overall market [4]. - New consumption is defined by diverse demands from target customer groups, driven by new technologies, concepts, and models, leading to continuous product and service innovation [4]. - The essence of new consumption lies in the innovation of product categories, scenarios, and the emotional connection consumers have with brands [4]. Group 3: Event Overview - The Shenzhen Craft Beer Festival and the Third Shenzhen Teao Festival aim to explore new consumption scenarios and promote night economy development [5][7]. - The event will feature various activities, including beer competitions, live music, and creative showcases, designed to create a vibrant social atmosphere [7][12]. - Over 70 brands will participate, fostering cross-industry collaboration and creative exchanges to inspire new lifestyle concepts [12][14]. Group 4: Brand and Market Insights - The event organizers recognize the importance of brand beliefs that can transcend cycles, memorable product expressions, and commercial language that reflects urban culture [14]. - The "CITYFORCE Annual Brand" initiative will be launched to identify brands that excel in commercial, user, and social value, showcasing innovation and experience [14].

Group 1 - The core product launch is the mini version of LABUBU, which includes two variants (A/B), each containing 14 regular items and 1 hidden item [1] - The probability of obtaining a regular item is 1 in 14, while the probability for the hidden item is 1 in 168 [1] - The price for a single blind box is set at 79 yuan, and the complete set is priced at 1106 yuan [1] Group 2 - The release date for online sales is scheduled for August 28, 2025, at 22:00, with offline sales starting on August 29, 2025 [3] - The product series is titled "THE MONSTERS 心底密码系列" and includes similar pricing and probability structures as the LABUBU series [3] - A note indicates that in-store order fulfillment may lead to inventory shortages, suggesting customers prioritize online purchases [3]

22日，@POPMART泡泡玛特 官宣mini版labubu。据悉，mini版labubu共14个常规款，1个隐藏款，售价79元。 ...