After the close of trading on April 22, Chinese trend-driven toy company Pop Mart (POP MART, HKEX: 9992) released its latest business update for the first quarter of 2025:
Overall revenue (unaudited) grew 165%-170% year-over-year compared to the first quarter of 2024. Of this, revenue from the Chinese Mainland increased by 95%-100% year-over-year, while overseas revenue surged by 475%-480% year-over-year.
— Chinese Mainland Market:
- Revenue from offline channels increased by 85%-90% year-over-year.
- Revenue from online channels increased by 140%-145% year-over-year.
— Overseas Market:
- Revenue in the Asia-Pacific region grew by 345%-350% year-over-year;
- Revenue in the Americas grew by 895%-900% year-over-year;
- Revenue in Europe grew by 600%-605% year-over-year.
The announcement emphasized that these figures are based on the Board of Directors’ preliminary review of management accounts and have not been audited by external auditors, and therefore may be subject to change.
On April 22, Pop Mart’s share price closed up 6.93% from the previous day to HKD 175.9 per share, marking a record high and bringing its total market capitalization to HKD 236.2 billion (approximately USD 30.2 billion).
Key Developments for Pop Mart in the First Quarter of 2025:
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In January, Pop Mart launched the first-ever nationwide exhibition space for Pop Bean at Tianjin Joy City.
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In January, Pop Mart introduced its jewelry brand “POPOP” and opened a pop-up store at Shanghai IFC, followed by another pop-up store at OneAvenue Excellence Center in Shenzhen.
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In February, Pop Mart opened the first store of its Hirono sub-brand at Shanghai Zhonghuan Plaza.
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In February, Pop Mart opened its first-ever new concept flagship store globally at Seacon Square Srinakarin shopping mall in Bangkok.
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Starting from March, Pop Mart launched the MEGA SPACE MOLLY “Daughter of Earth” art installation at the South Plaza of the Shougang No.3 Blast Furnace in Beijing.
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In March, Pop Mart’s IP SKULLPANDA collaborated with Japanese fashion brand UNIQLO to launch a new co-branded collection.
｜Source: Pop Mart Announcement
｜Image Credit: Pop Mart Official Website
｜Editor: LeZhi
