Chinese toymaker Pop Mart says first-half revenue to rise by 200% from a year earlier
runaway success of its Labubu toy in international markets since last year, saying it expects first-half revenue and profit to surge from a year earlier.
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In a filing to the Hong Kong stock exchange on Tuesday, the Beijing-based company said it expected revenue for the first half of 2025 to increase by more than 200 per cent from a year earlier, while profit would rise by at least 350 per cent.
In April, the company said its first-quarter revenue rose by 170 per cent from a year earlier, driven by a nearly
480 per cent surge in overseas business and close to 100 per cent growth at home.
The company attributed its first-half growth to 'the increased global recognition of the Pop Mart brand and its [intellectual properties], and diversified product categories', noting that revenue from all regional markets rose 'rapidly and continuously'.
It added that its growing presence in overseas markets, where the brand has a more premium positioning, helped improve its revenue structure and overall gross profit. The company said it also benefited from a substantial increase in profit from economies of scale, cost optimisations and tighter expense controls.
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