Overview

• Pop Mart projects a net profit increase of at least 350% and a revenue gain exceeding 200% for the first half of 2025.
• The company said tightened product costs along with stronger expense controls drove its profitability leap.
• First-quarter revenue climbed 170% year-on-year as overseas business surged nearly 480% and domestic sales doubled.
• Its Labubu blind-box collectibles have driven global demand with long queues, high-value auctions and celebrity endorsements elevating the brand.
• State media warnings over blind-box consumerism, alongside analyst predictions of a mid-year slowdown, have injected volatility into its shares.