8月19日，泡泡玛特披露2025年中期业绩。财报显示，上半年泡泡玛特营收为138.8亿元，同比增长 204.4%，经调整净利润为47.1亿元，同比增长362.8%。上半年公司毛利率为70.3%，同比提升了6.3个百 分点，多项数据创下历史新高。 在具体的产品上，"LABUBU"所在的"THE MONSTERS"系列是泡泡玛特上半年的"吸金王"，该系列上 半年营收48.1亿元，占比34.7%。"MOLLY""SKULLPANDA""CRYBABY"等系列的营收突破10亿元。另 外，今年上半年，泡泡玛特的毛绒品类营收61.4亿元，收入占比首次超过手办品类。 这是泡泡玛特全球组织架构调整后的首份业绩公告，也首次详细披露了中国、亚太(指中国以外的亚洲 和大洋洲国家与地区，也不包括美洲国家)、美洲和欧洲及其他地区四大区域业绩。具体来说，来自中 国的营收为82.8亿元，同比增长135.2%；来自亚太地区的营收为28.5亿元，同比增长257.8%；来自美洲 地区的营收为22.6亿元，同比增长1142.3%；来自欧洲及其他地区的营收为4.8亿元，同比增长729.2%。 ...

Core Viewpoint - The article highlights the recent complaints regarding delayed shipments from Pop Mart, indicating a significant issue with their order fulfillment process and customer service response [1][4][5]. Group 1: Customer Complaints - Consumers have reported that products purchased from Pop Mart's official channels have not been shipped by the promised deadlines, leading to over 1,000 complaints related to "delayed shipment," "non-shipment," and "false shipment" on the Black Cat Complaints APP [1][4]. - Specific complaints include promises of 72-hour and 48-hour shipping that extended to 6 and 7 days without fulfillment, with many customers expressing dissatisfaction with the customer service's inability to resolve these issues [1][4]. Group 2: Company Response - Pop Mart has publicly apologized for the delays, attributing the issue to a surge in order volume and stating that they are working to expedite shipments, with an expectation to fulfill orders within approximately 7 days [4][5]. - The company has acknowledged that the delays affect multiple product lines, including popular series like THE MONSTERS and SKULLPANDA [4]. Group 3: Operational Challenges - The article raises questions about whether the delays are due to increased promotional orders or production capacity issues, with no official response from Pop Mart on this matter [5]. - Reports indicate that the company has been under pressure to increase production capacity since the beginning of the year, but demand has outpaced the supply chain's ability to respond effectively [5].