$POP MART(09992)$ is set to report its 2025 H1 results on August 19th. Investors are eyeing this release closely as the Chinese trendy toy giant may cross a major milestone — overseas revenue is expected to surpass 50% of total revenue for the first time, thanks to the global popularity of Labubu and its IP co-branding strategy.
💰 Bloomberg estimates for H1 2025:
Revenue: RMB 13.76B (+201.9% YoY)
Adjusted Net Profit: RMB 4.298B (+322.4% YoY)
EPS: RMB 3.18 (+314% YoY)
📌 What to Watch
Overseas Expansion: Pop Mart now operates over 150 overseas stores. With revenue from the U.S., Europe, and Southeast Asia growing 500%+, global sales are expected to overtake domestic for the first time.
IP Popularity (Labubu & Friends): Labubu’s latest plush line sparked a global buying frenzy, topping app store rankings and sending June’s GMV over RMB 3.7B. Watch for the sustained impact of its cross-border IP strategy.
Co-branded IPs: Hits like “Ne Zha 2” boosted online sales to 42%. Upcoming collabs with One Piece and Harry Potter could provide further tailwinds.
Profit Margins: Analysts expect gross margin to rise from 66.8% to 70%, with net margin expanding to 32%, driven by scale, cost controls, and stronger overseas unit economics.
Pop Mart is no longer just a toy seller—it’s evolving into a global cultural brand. Will this earnings report ignite another rally? Or is all the good news already priced in?
Event Details
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⏰Event Duration
The deadline for this event is 09:00 on 20 August 2025.
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Comments
Profitability is another area I’ll be watching closely. If gross margin reaches 70% and net margin expands past 30%, it would show Pop Mart is scaling efficiently while monetizing IP successfully. Co-branded hits like “Ne Zha 2” and upcoming partnerships with One Piece & Harry Potter could add further upside.
That said, the stock already reflects high expectations. But if earnings beat estimates & management delivers strong guidance, I believe the momentum continues. My prediction is that Popmart will close higher on Aug 20 after earnings, supported by its growing status.
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