Pop Mart and Mixue Beat! Which Company is a Safer Bet for 2025 Investment?

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Tiger_SG
03-26
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Today, two major Hong Kong Stocks release earnings: $POP MART(09992)$ and $MIXUE GROUP(02097)$ both reported significant growth, with year-to-date increases of 56% and 102%, respectively.

After Pop Mart's release of its H2 2024 earnings, both revenue and profits exceeded expectations, with the stock rising 10.87%, hitting a new all-time high.

  • Revenue: ¥13.04 billion (up 107% YoY), surpassing market expectations (market expected about +80%).

  • Gross Margin 68.3% in the second half, setting a new historical high. Sales & management expense ratios both decreased, and core operating profit far exceeded expectations.

  • Same-Store Revenue: Both domestic and international same-store sales saw a sequential acceleration, with international stores' revenue more than three times that of domestic stores.

  • IP Performance: The "Monsters" series surpassed Molly to become the top IP, accounting for nearly 30%. Plush toys saw a significant increase in their share, rising from less than 10% in the first half to 30%.

  • Overseas business continued its strong growth momentum from Q3, with a 438% increase in the second half.

  • Despite the sluggish domestic consumption environment, offline store performance exceeded expectations, with a sequential acceleration of 55%-60% in Q4 compared to Q3, and a 70% increase in the second half.

$MIXUE GROUP(02097)$ Releases 2024 Annual Earnings Report Post-Market

As the first earnings report since going public, Mixue Group not only saw positive growth in several financial indicators but also achieved new business milestones, delivering a standout "report card."

  • 2024 Revenue: ¥24.83 billion, a 22.3% YoY increase.

  • Gross Profit: ¥8.06 billion, up 34.4% YoY.

  • Gross Margin: 32.5%; Net Profit: ¥4.45 billion, a significant 39.8% YoY increase, with a net profit margin of approximately 18%.

  • Global Store Count: 46,479 stores, an increase of 8,914 stores YoY, surpassing $Starbucks(SBUX)$ to become the largest global chain of ready-to-drink beverage stores. The increase in stores led to more sales channels and customer groups, driving revenue growth.

  • Overseas Market: The number of stores outside mainland China increased by 564 compared to the same period in 2023, showing progress in the company's overseas expansion and providing a broader space for future growth.

Which Company Do You Favor More? Key Financial Metrics Comparison:

Mixue as a ready-to-drink tea beverage manufacturer, has a higher net profit margin than its peers but is still lower than Pop Mart's margin.

The chart above compares the net profit margin of $MIXUE GROUP(02097)$ before its IPO.

Which company is your pick?

Leave your comments and also post to win tiger coins~

HK$2.2B Stock Sale: A Major Red Flag For Pop Mart?
Pop Mart Shares Dumped by Founding Shareholder at Highs — Involving Around HK$2.2 Billion. The major shareholder offloaded approximately 11.91 million shares through multiple block trades, accounting for about 0.9% of Pop Mart’s total share capital. On May 7, Pop Mart closed down 5.43% at HK$184.5. ----------- Is this a sell signal from the major shareholder? Has Pop Mart peaked? Would you continue to hold?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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Comments

  • koolgal
    03-31
    koolgal

    🌟🌟🌟I am torn between choosing $POP MART(09992)$  and $MIXUEGROUP(02097)$ as both are outstanding companies in their respective fields.  However if I have to make a choice, I would choose Mixue as it has surpassed $McDonald's(MCD)$ and $Starbucks(SBUX)$  to become the world's largest fast food chain with over 45,000 stores globally.  That is really an incredible feat. 

    Mixue's phenomenal success can be attributed to its low cost, high efficiency store models with modular design and digitalised operations.  Mixue positions itself as an "infrastructure level" beverage chain focusing on affordability and scalability. 

    Affordability is the key word to Mixue's success!  It is hard to resist Mixue if I can buy an ice cream or drink for under USD 1.  That is why Mixue is such a popular chain. 

    Mixue raises more than USD 400 million in an IPO that sets a new record in the Hong Kong Stock Exchange. The stock closed at 43% above its IPO price to HKD 290, giving Mixue a valuation of more than USD 10 Billion. 

    Its humble beginnings was in Henan in 1997, where its Founder Zhang Hongchao opened a small store selling shaved ice. 

    Mixue also charges below average franchising fees.  It generates most of its revenue by selling supplies to franchisees.

    Low prices alone do not explain how Mixue became so popular.  It has a cute mascot, the Snow King which has  become a national icon on par with Ronald McDonald and Colonel Sanders. 

    Almost 90% of the stores are in China with the rest in 10 other Asian countries and Australia. 

    Mixue's menu is  short and sweet.  It includes the signature ice cream cone, variations on bubble tea and a lemonade that makes Mixue China's biggest purchaser of lemons. 

    Mixue has made its Founders Zhang Hongchao and Zhang Hongfu who are brothers, billionaires with a combined net worth of USD 8.1 billion, surpassing Starbucks' former CEO Howard Schultz.    That is simply amazing! 

    @Tiger_SG  @Tiger_comments  @CaptainTiger  @TigerStars  @TigerClub  

  • Barcode
    03-26
    Barcode

    🎎💰🎎 $POP MART(09992)$ $MIXUE GROUP(02097)$ You know, when I stack Pop Mart up against Mixue Group, it’s like pitting a rocket ship against a trusty scooter, Pop Mart’s my pick, and it’s not even a contest. Their profit didn’t just climb last year, it vaulted 188% to 3.1 billion yuan, leaving analyst guesses in the dust, while sales doubled to 13 billion yuan. That’s no happy accident, it’s a tsunami, propelled by Labubu dolls that have morphed from plastic trinkets into totems of a global cult, all because Blackpink’s Lisa can’t stop cradling them like postmodern relics. Mixue’s brewing its tea in the shadows, but Pop Mart’s out here rewriting the cultural scripture.

    What’s got me hooked is their sheer gall. They’re planting flagship stores in the pulsing cores of North America and Europe, think Piccadilly Circus, not a suburban afterthought, turning retail into a branding coup. Then they rope in artists and brands, crafting a pop culture alchemy that’s less about selling toys and more about distilling zeitgeist into collectable form. Labubu’s not just a doll, it’s a tiny philosopher, king, presiding over a kingdom of hype where Plato’s cave, dwellers trade shadows for vinyl. Mixue’s regional hustle feels like a footnote, earnest, but no match for this kind of swagger. The market agrees: Pop Mart’s stock rocketed 360% in a year, spiking 12% in Hong Kong recently, with a HK$176.7 billion cap that radiates momentum. Shareholders even get a cheeky 0.8146 yuan dividend nod.

    For me, this isn’t just about backing a winner, it’s about hitching a ride on a wave that’s redefining play as power. Pop Mart’s not waiting for the future, it’s dragging it in, kicking and screaming, with a smirk and a doll in hand. I’m sold.

    @Shyon Lah, Shyon, thanks sia, so good of you to tag me into this competition! Really appreciate it, you damn solid lah! Always tagging me in! 

    @Ah_Meng  Oi, Ah_Meng, don’t just chill there like some kampong legend lah, I’m tagging you into this competition sia! Time to jump in and flex your skills, bro, don’t say I never pass you the baton to shine. Let’s see if you can own it or just end up blur lah [Facepalm]  [LOL]  

    • BarcodeReplyShyon: 
      Ta matey! Cheers lah 👍🩵🍀🍀🍀
    • Shyon: 
      Nice article from you too lah 😆😁🙂
  • Shyon
    03-26
    Shyon

    I prefer $POP MART(09992)$  between these two companies. Its latest earnings show incredible growth across the board, with revenue and profits smashing expectations. What really stands out is how well its IP strategy is working—new collections are gaining traction, and international markets are expanding rapidly. Even in a tough consumer environment, Pop Mart's offline stores are performing strongly, proving the brand's resilience and appeal.

    On the other hand, $MIXUE GROUP(02097)$ has achieved impressive scale, now surpassing Starbucks in global store count. Its expansion, especially overseas, is solid, but the business operates in a much more competitive space with tighter margins. While it's a reliable player in the beverage industry, it lacks the same premium pricing power and cultural buzz that Pop Mart commands with its collectibles and IP-driven model.

    For me, Pop Mart is the more exciting opportunity. Its ability to innovate, cultivate fan loyalty, and scale globally gives it an edge over Mixue's more traditional growth path. I'd lean toward Pop Mart for higher upside, though Mixue could still be a steady performer for investors seeking slower but stable expansion.

    @Tiger_SG  @Tiger_comments  @TigerStars  @TigerGPT  @Daily_Discussion  

  • Queengirlypops
    03-26
    Queengirlypops
    Manic yo//@Barcode:

    🎎💰🎎 $POP MART(09992)$ $MIXUE GROUP(02097)$ You know, when I stack Pop Mart up against Mixue Group, it’s like pitting a rocket ship against a trusty scooter, Pop Mart’s my pick, and it’s not even a contest. Their profit didn’t just climb last year, it vaulted 188% to 3.1 billion yuan, leaving analyst guesses in the dust, while sales doubled to 13 billion yuan. That’s no happy accident, it’s a tsunami, propelled by Labubu dolls that have morphed from plastic trinkets into totems of a global cult, all because Blackpink’s Lisa can’t stop cradling them like postmodern relics. Mixue’s brewing its tea in the shadows, but Pop Mart’s out here rewriting the cultural scripture.

    What’s got me hooked is their sheer gall. They’re planting flagship stores in the pulsing cores of North America and Europe, think Piccadilly Circus, not a suburban afterthought, turning retail into a branding coup. Then they rope in artists and brands, crafting a pop culture alchemy that’s less about selling toys and more about distilling zeitgeist into collectable form. Labubu’s not just a doll, it’s a tiny philosopher, king, presiding over a kingdom of hype where Plato’s cave, dwellers trade shadows for vinyl. Mixue’s regional hustle feels like a footnote, earnest, but no match for this kind of swagger. The market agrees: Pop Mart’s stock rocketed 360% in a year, spiking 12% in Hong Kong recently, with a HK$176.7 billion cap that radiates momentum. Shareholders even get a cheeky 0.8146 yuan dividend nod.

    For me, this isn’t just about backing a winner, it’s about hitching a ride on a wave that’s redefining play as power. Pop Mart’s not waiting for the future, it’s dragging it in, kicking and screaming, with a smirk and a doll in hand. I’m sold.

    @Shyon Lah, Shyon, thanks sia, so good of you to tag me into this competition! Really appreciate it, you damn solid lah! Always tagging me in! 

    @Ah_Meng  Oi, Ah_Meng, don’t just chill there like some kampong legend lah, I’m tagging you into this competition sia! Time to jump in and flex your skills, bro, don’t say I never pass you the baton to shine. Let’s see if you can own it or just end up blur lah [Facepalm]  [LOL]  

  • Hen Solo
    03-26
    Hen Solo
    Love the pic BC! They really go mad for these dolls! //@Barcode:

    🎎💰🎎 $POP MART(09992)$ $MIXUE GROUP(02097)$ You know, when I stack Pop Mart up against Mixue Group, it’s like pitting a rocket ship against a trusty scooter, Pop Mart’s my pick, and it’s not even a contest. Their profit didn’t just climb last year, it vaulted 188% to 3.1 billion yuan, leaving analyst guesses in the dust, while sales doubled to 13 billion yuan. That’s no happy accident, it’s a tsunami, propelled by Labubu dolls that have morphed from plastic trinkets into totems of a global cult, all because Blackpink’s Lisa can’t stop cradling them like postmodern relics. Mixue’s brewing its tea in the shadows, but Pop Mart’s out here rewriting the cultural scripture.

    What’s got me hooked is their sheer gall. They’re planting flagship stores in the pulsing cores of North America and Europe, think Piccadilly Circus, not a suburban afterthought, turning retail into a branding coup. Then they rope in artists and brands, crafting a pop culture alchemy that’s less about selling toys and more about distilling zeitgeist into collectable form. Labubu’s not just a doll, it’s a tiny philosopher, king, presiding over a kingdom of hype where Plato’s cave, dwellers trade shadows for vinyl. Mixue’s regional hustle feels like a footnote, earnest, but no match for this kind of swagger. The market agrees: Pop Mart’s stock rocketed 360% in a year, spiking 12% in Hong Kong recently, with a HK$176.7 billion cap that radiates momentum. Shareholders even get a cheeky 0.8146 yuan dividend nod.

    For me, this isn’t just about backing a winner, it’s about hitching a ride on a wave that’s redefining play as power. Pop Mart’s not waiting for the future, it’s dragging it in, kicking and screaming, with a smirk and a doll in hand. I’m sold.

    @Shyon Lah, Shyon, thanks sia, so good of you to tag me into this competition! Really appreciate it, you damn solid lah! Always tagging me in! 

    @Ah_Meng  Oi, Ah_Meng, don’t just chill there like some kampong legend lah, I’m tagging you into this competition sia! Time to jump in and flex your skills, bro, don’t say I never pass you the baton to shine. Let’s see if you can own it or just end up blur lah [Facepalm]  [LOL]  

  • Tui Jude
    03-26
    Tui Jude
    Always a craze with dolls! //@Barcode:

    🎎💰🎎 $POP MART(09992)$ $MIXUE GROUP(02097)$ You know, when I stack Pop Mart up against Mixue Group, it’s like pitting a rocket ship against a trusty scooter, Pop Mart’s my pick, and it’s not even a contest. Their profit didn’t just climb last year, it vaulted 188% to 3.1 billion yuan, leaving analyst guesses in the dust, while sales doubled to 13 billion yuan. That’s no happy accident, it’s a tsunami, propelled by Labubu dolls that have morphed from plastic trinkets into totems of a global cult, all because Blackpink’s Lisa can’t stop cradling them like postmodern relics. Mixue’s brewing its tea in the shadows, but Pop Mart’s out here rewriting the cultural scripture.

    What’s got me hooked is their sheer gall. They’re planting flagship stores in the pulsing cores of North America and Europe, think Piccadilly Circus, not a suburban afterthought, turning retail into a branding coup. Then they rope in artists and brands, crafting a pop culture alchemy that’s less about selling toys and more about distilling zeitgeist into collectable form. Labubu’s not just a doll, it’s a tiny philosopher, king, presiding over a kingdom of hype where Plato’s cave, dwellers trade shadows for vinyl. Mixue’s regional hustle feels like a footnote, earnest, but no match for this kind of swagger. The market agrees: Pop Mart’s stock rocketed 360% in a year, spiking 12% in Hong Kong recently, with a HK$176.7 billion cap that radiates momentum. Shareholders even get a cheeky 0.8146 yuan dividend nod.

    For me, this isn’t just about backing a winner, it’s about hitching a ride on a wave that’s redefining play as power. Pop Mart’s not waiting for the future, it’s dragging it in, kicking and screaming, with a smirk and a doll in hand. I’m sold.

    @Shyon Lah, Shyon, thanks sia, so good of you to tag me into this competition! Really appreciate it, you damn solid lah! Always tagging me in! 

    @Ah_Meng  Oi, Ah_Meng, don’t just chill there like some kampong legend lah, I’m tagging you into this competition sia! Time to jump in and flex your skills, bro, don’t say I never pass you the baton to shine. Let’s see if you can own it or just end up blur lah [Facepalm]  [LOL]  

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