Chinese companies are looking to go global, no longer just about hard manufacturing
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Forbes
27 minutes ago
- Forbes
China Market Update: Xiaomi's Results Roar (Quietly) As Hong Kong & Mainland China Take A Breather
Xiaomi fell by -1.23% in Hong Kong trading but reported earnings after the market's close. Xpeng fell by -1.85% in Hong Kong trading. A bigger piece of news after the close was that the Ministry of Industry and Information Technology (MIIT) held a symposium on competition in the solar industry, highlighting efforts to standardize competition and promote the orderly exit of outdated production capacity. The MIIT will strengthen price monitoring and enforcement against practices such as sales below cost and false advertising. It will be interesting to watch how US-listed China solar stocks respond, as this could affect Hong Kong and Mainland markets tomorrow. Asian equities were mixed as Vietnam gained 1%, Hong Kong closed lower for the fourth consecutive day, and Mainland China took a breather after its market cap hit a 10-year high . Profit taking centered on growth stocks and sub-sectors, but Tencent (+0.94%) and electronics held up well, aided by Premier Li's positive comments on domestic consumption. East Buy Holding was a notable decliner, dropping -20.89% in Hong Kong and -3.41% in Mainland China after reaching 52-week highs yesterday, reportedly on an unconfirmed rumor. Meanwhile, Mainland investors bought the Hong Kong dip in volume, with $2.38 billion in net buying, and strong flows into the Hong Kong Tracker ETF following Friday's $4.58 billion of net buying. The 1 and 3-Year Loan Prime Rates (LPRs), set at 3% and 3.5% respectively, are not expected to change; the 3-year rate remains the reference rate for mortgages. Diplomatic relations between India and China seem to be improving, as China has agreed to sell rare earths to India following Foreign Minister Wang Yi's visit. Having returned from a family holiday, I'm still shaking off the proverbial mental fog, although my wife insists that's a permanent state, and she's got plenty of evidence, too. I missed that Tong Cheng Travel reported Q2 financial results yesterday after the Hong Kong close, posting beats in revenue, adjusted net income, and adjusted earnings per share (EPS). It is worth noting that 2020 revenue was RMB 5.93 billion, and the 2025 revenue estimate is RMB 19.51 billion, yet the stock has only risen 35% over the past five years. This is fairly typical in our space, where revenues multiply but stock appreciation lags. New Content Read our latest article: Labubus: How Pop Mart's Newest Craze Reflects Chinese Cultural Influence in the U.S. Please click here to read
WIRED
29 minutes ago
- WIRED
Labubus Are on Track to Be a Billion-Dollar Business This year
Aug 19, 2025 10:49 AM Pop Mart, the Chinese company behind the Labubu franchise, has sold $670 million worth of related products so far this year—more than iconic US toy lines Barbie and Hot Wheels. Photograph: UCG/Getty Images Labubus, the mischievous elf plush toys seen hanging on every celebrity's designer bag this summer, have gone viral across the world, but now we know exactly how popular—and profitable—they have been. On Tuesday, the Chinese company Pop Mart, which manufactures and sells the Labubu franchise, released its financial report for the first half of 2025, and it has had a terrific year. Overall, Pop Mart's revenues grew 204 percent compared to the year before, and net profits increased 362 percent. The company's gross margin rate reached 70.3 percent in 2025. The Monsters franchise, designed by Chinese-Dutch artist Kasing Lung and primarily represented by the character Labubu, generated over 4.81 billion RMB ($670 million) in revenues for Pop Mart in the first six months of 2025, a 668 percent increase compared to the same period last year. (For comparison, Mattel sold $374 million worth of Barbie toys and $626 million worth of Hot Wheels products during the same period.) The soaring popularity of Labubu has also made The Monsters series Pop Mart's most successful franchise, contributing to nearly 35 percent of the company's total revenues, an increase from just 14 percent in June 2024. Another major factor that has helped turn Labubu into a viral sensation is the company's product line of vinyl-plush keychains. This specific type of toy, which combines the softness of plush toys and the sculptural details of facial features seen more in figurines, has unexpectedly blown up, even though the company only started selling them in late 2023. First in China and then in the West, the soft Labubu keychains have been used as bag charms and accessories by celebrities like Rihanna, Lady Gaga, and Kim Kardashian, fueling a social media obsession and causing them to sell out everywhere. According to Pop Mart's latest financial report, the company's revenue from plush products grew over 1200 percent overall this year to 6.13 billion RMB ($854 million), accounting for 44 percent of the company's total revenues. Pop Mart has released over 20 different plush products since the start of 2025 using different manufacturing techniques in an attempt to replicate Labubu's success. While these numbers are impressive, they only capture a portion of the true popularity of Labubu keychains, because there are also countless counterfeit Labubus (commonly called Lafufus by fans) sold around the world. Because of a supply shortage deliberately orchestrated by Pop Mart, some of the company's products, including the Labubu plush dolls, are traded for far more than their list price on second-hand markets, profits of which are also not reflected in its earnings. Pop Mart was founded in 2010 as a variety store selling trendy toys and gadgets, and has become increasingly international. By June 2025, over 40 percent of Pop Mart's revenue came from outside China. Pop Mart has been growing particularly fast in the United States. Revenues in the Americas market (primarily the US) rose more than 1100 percent to 2.26 billion RMB ($315 million) in the first half of 2025. The number of physical Pop Mart stores in the Americas have also almost doubled to 41, making it the company's fastest growing region. In total, Pop Mart currently has 571 stores across the world.
Newsweek
an hour ago
- Newsweek
Woman Thrifts Designer Top for $13, Stunned When She Discovers Retail Value
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A thrift-store fashionista has offered a glimpse of what she believes might be her "craziest" find of recent times. Roms Mason, from London in the U.K., took to her TikTok, @relovedwithroms, to reveal the bargain she stumbled upon while browsing the rails of an RSPCA charity shop in Stoke Newington. Mason has a keen eye for spotting designer pieces in thrift stores. and has cultivated a significant following on social media through her love of fashion. "Growing up, I used fashion and clothing as a way to show my personality," Mason told Newsweek. "Obviously, at 13, I didn't have a lot of money, so buying designer items secondhand and for low prices was the only way to build a designer wardrobe." In more-recent times, resale platforms such as Vinted and eBay have given Mason even more of an opportunity to hone her craft and eye for a good bargain. "My recent best finds are a Prada bag for £20 on Vinted and a Issey Miyake Pleats Please jacket for £20," Mason said. "I also look for brands with distinct quality and styles. I find it quite easy to tell by touch and the feel of a material if it might be something special." The demand for secondhand apparel is on the rise. Statista says that the global secondhand apparel market was estimated to be worth $227 billion in 2024, with that figure forecast to rise to $379 billion by 2027. Videos like the ones Mason shares online are only likely to further increase the number of people heading out to thrift designer bargains. This most-recent find is a prime example of that: a JW Anderson chevron knit top that normally retails for £683 ($922) but was on sale for just £10 ($13) at the RSPCA store. "My wardrobe is quite monochrome, so I tend to look through black and white pieces first and go from there," Mason said. From the moment she laid her hands on it, Mason could tell the top was the real deal. "It's super thick so, as soon as I touched it, I knew it was good quality," she said. However, Mason was shocked when she looked at the label and realized who had designed it. "Jonathan Anderson is one of the most-influential designers of this century; his work with Loewe was revolutionary. I'm chuffed [excited] to own a piece from his personal brand," Mason said. While this kind of thrift-store find might be a surprise to most, Mason said that Stoke Newington is a "creative hub" in London, so it is not a huge shock to find something like this here. As for how the garment ended up there, she said that "it could be anything from an original sample to just someone's unwanted fashion item." Given the disparity between the retail price and what she purchased it for, it would be understandable if Mason chose to sell the top on at a handsome profit, but she is unsure. "It will depend if I wear it or not! I normally keep things for about a year, and if I don't reach for it often, I would sell it on to a more-loving home," Mason said. "However, just because the retail value is £600, that doesn't necessarily mean I'd be able to sell it for anything close to that." Though this does standout as one of her best thrift-store finds of recent times, Mason said she has found even-better bargains. "My best finds overall are probably a Pleats Please dress for £6 or a Christian Dior top for $5 when thrifting in America," she said. "I love to thrift in different countries and places—you never know what you're going to find!" Mason may also be on the lookout for designer goods, but she said she hopes her videos inspire others to realize that "fashion isn't exclusive to the 'wealthy' and is also not limited to designer brands." "Style is so deeply personal," Mason said. "It can reflect your political and ethical beliefs; you also don't need to be wearing 'expensive' or designer clothing to be considered fashionable."
