泡泡玛特卖爆了。 3月26日，泡泡玛特发布2024年财报，一直以来备受质疑的它交出了一份出人意料的成绩单。2024年，泡泡玛特实现130.38亿元营收，相比2023年增加了 一倍多；经调整净利润34.03亿元，同比增长185.9%，表现出了极强的盈利能力—作为对比，全球玩具巨头美泰2024年获得了53.8亿美元（约合392.7亿元 人民币）的收入，但其全年净利润也仅有5.42亿美元（约合39.6亿元人民币）。 将定价几十元且实用价值有限的盲盒卖给成年人，一度是一门不被广泛看好的生意。2020年在香港联合交易所上市后，被誉为"盲盒第一股"的泡泡玛特首 日开盘后就冲到每股77.1港元，相比每股38.5港元的发行价翻了一番，市值一度超过1000亿港元，但资本市场对潮玩行业和泡泡玛特的商业模式始终缺乏 坚定的信心。 推出高端潮玩产品线"MEGA珍藏系列"。 2022.1.28 股价跌至37.7港元/股,跌破发行价。 新冠疫情进一步放大了这种疑虑。上市前，泡泡玛特连续两年保持着每年超过200%的营收增速，但到了2020年，其营收和净利润的增速纷纷放缓，2022 年增长则几乎停滞，全年营收46.17亿元，同比增长仅2.8 ...

第137届广交会第三期"美好生活"5月1日至5日在广州琶洲展馆举行。记者从汕头市商务局获悉，第三期是汕头参展规模最大一期，全市共有267个参展企 业，设517个展位。汕头玩具创意和纺织服装两大特色产业企业铆足干劲，向全球客商展现"汕头制造"的硬核实力。 "本届广交会，是我们准备得最充分的一届。"广交会三期17.1号馆，汕头市澄海区山姆玩具实业有限公司总经理戴春阳和销售人员忙碌地与客户交流。他告 诉记者，今年无论是从产品的研发，到客户的邀约，以及产品目录纸质版、电子版的制作，摊位的装修等，公司都花费了一番心思认真准备，也特别安排了 多位"得力干将"参会，"但凡有客户到我们摊位，我们都确保有相应业务的人员精准对接。"戴春阳说，销售人员特别邀约了一些在跨境电商平台接触的客 户，与这些"老朋友"在线下洽谈业务。 戴春阳告诉记者，过去公司主要依托跨境平台开展业务，线上销售比例占到六七成。疫情防控之后，公司加强了线下布局。但最近的国际形势，让戴春阳又 重新思考如何布局市场。他坦言，公司短期内虽然受到一些订单暂停的损失，但也陆续收到不少美国客户新订单的邀约。"机遇与挑战总是并存的。"戴春阳 在跨境领域有着十多年经验。他分析 ...

泡泡玛特 以下是泡泡玛特 FY24 H2 的财报电话会纪要，财报解读请移步《 泡泡玛特：出海封神！泡泡玛特一路 "狂飙" 》 一、财报核心信息回顾 | | | | | | 泡泡玛特财务数据概览 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 单位:亿/CNY | 1H21 | 2H21 | 1H22 | 2H22 | 1H23 | SH23 | 1H24 | 2H24 | 2H24e | 实际 VS 换期 | | 整体收入 | 17.7 | 27.2 | 23.6 | 22.6 | 28.1 | 36.7 | 45.6 | 84.8 | 76.7 Beat | 10.5% | | VOV | 117% | 85% | 33% | -17% | 19% | 62% | 62% | 131% | | | | 大陆 | 17.1 | 25.9 | 22.0 | 19.6 | 24.4 | 29.8 | 32.1 | 47.6 | 41.8 Beat | 14.0% | | 浅下 | 6.7 | 12. ...

Core Insights - In 2024, Pop Mart achieved a revenue of 13.04 billion yuan, marking a year-on-year growth of 106.9%, with an adjusted net profit of 3.4 billion yuan, up 185.9% [1] - The company reported that four major IPs generated over 1 billion yuan each, with 13 IPs surpassing 100 million yuan in revenue [1] - The company’s gross margin reached a historical high of 66.8%, an increase of 5.5 percentage points from 61.3% in 2023 [2] Domestic Business Performance - In mainland China, Pop Mart's revenue was 7.97 billion yuan, reflecting a year-on-year increase of 52.3% [2] - The company added 38 offline stores, bringing the total to 401, while the number of robot stores increased to 2,300 [2] - Revenue from offline stores was 3.83 billion yuan, up 43.9%, and robot store revenue was 700 million yuan, growing by 26.4% [2] International Market Growth - Pop Mart's overseas and Hong Kong, Macau, and Taiwan business generated 5.07 billion yuan, a staggering growth of 375.2%, accounting for 38.9% of total revenue [3] - The Southeast Asia market led the growth with a revenue of 2.4 billion yuan, a year-on-year increase of 619.1% [3] - Online sales in overseas markets reached 1.46 billion yuan, up 834%, with the highest revenue from the overseas official website at 530 million yuan, growing by 1246.2% [3] Product Innovation and Sales Channels - The plush toy category saw explosive growth with a revenue increase of 1289%, while the proportion of sales from figurines dropped to 53.2% [1] - The company’s抽盒机 (blind box machine) generated 1.11 billion yuan, a 52.7% increase, surpassing the historical peak of 2022 [2] - The Tmall flagship store achieved 630 million yuan in revenue, a 95% increase, and the content e-commerce team generated 600 million yuan, up 112.2% [2]