Core Viewpoint - The demand for LABUBU products from Pop Mart is surging, with recent releases selling out quickly and commanding high resale prices, indicating a strong market presence and consumer interest in collectible toys [1][6]. Sales Performance - The recent release of the LABUBU mini and colorful versions sold over 300,000 units within minutes, showcasing the high demand [1]. - The resale price for the LABUBU products has seen significant appreciation, with some items selling for over 9 times their original price [1][6]. Revenue Growth - The revenue for the THE MONSTERS series reached 3.04 billion yuan in 2024, marking a year-on-year increase of 726.6%, making it Pop Mart's most profitable IP [6]. - In the first half of 2024, the revenue from THE MONSTERS series was 4.814 billion yuan, surpassing the total revenue for the previous year [6]. Market Trends - Pop Mart has seen a rise in the popularity of other IPs, with 13 IPs generating over 100 million yuan in revenue in 2024, including SKULLPANDA and CRYBABY [7]. - The newly signed IP "Star People" is also gaining traction, with resale prices for its products reaching 9-15 times their original prices [9]. Financial Performance - For the first half of 2025, Pop Mart reported a record revenue of 13.88 billion yuan, a year-on-year increase of 204.4%, and an adjusted net profit of 4.71 billion yuan, up 362.8% [11]. - The company aims for a revenue target of 30 billion yuan for the current year, with optimistic projections suggesting it could reach 30 billion yuan easily [11]. Stock Market Presence - Pop Mart was included in the Hang Seng Index, effective September 8, 2025, marking a significant milestone for the company [11]. - As of August 28, 2025, Pop Mart's stock closed at 324.4 HKD per share, with a market capitalization exceeding 430 billion HKD [11].