Pop Mart convened its interim results conference today, where founder Wang Ning announced the group's strongest-ever financial performance and projected annual revenue to exceed RMB 30 billion. During the event, Wang unveiled the miniaturized LABUBU series set for release this week, indicating plans to expand this iconic IP into more diverse usage scenarios: "While consumers traditionally attached LABUBU to bags, starting next week they can even hang it on their phones—this represents just the beginning of our scenario expansion strategy."
Wang emphasized that beyond quantitative growth, he prioritizes operational health and "the subtle stories behind big data." Although LABUBU possesses immense potential as a symbolic IP, the team maintains disciplined product development to avoid overexploitation. "The true value exploration of LABUBU will only commence when it becomes a globally recognized IP," Wang noted.
According to interim results released on August 19, Pop Mart's H1 2025 revenue surged to RMB 13.88 billion (up 204.4% YoY), with adjusted net profit reaching RMB 4.71 billion (up 362.8% YoY). This explosive growth stems from global expansion and continuous innovation in core IPs, particularly the LABUBU series, which tripled its sales in European and American markets.
Analysts observe that Pop Mart employs "scenario diversification + miniaturization" tactics to broaden IP applications while strictly controlling SKU quantities to maintain scarcity. Currently spanning 12 product categories across collectibles, digital accessories, and lifestyle products, the LABUBU IP is projected to generate over RMB 10 billion in standalone revenue by 2025.
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