- Pop Mart‘s net income for the first half of the year was 4.57 billion yuan, significantly exceeding the estimate of 3.83 billion yuan, and up from 921.3 million yuan year-over-year.
- Revenue rose to 13.88 billion yuan, surpassing the estimate of 13.76 billion yuan, compared to 4.56 billion yuan year-over-year.
- “THE MONSTERS” Artist IP generated 4.81 billion yuan in revenue, a sharp increase from 626.8 million yuan year-over-year.
- “CRYBABY” Artist IP achieved revenue of 1.22 billion yuan, up from 349.4 million yuan year-over-year.
- “MOLLY” Artist IP recorded revenue of 1.36 billion yuan, marking a 73% increase year-over-year.
- Operating profit was 6.04 billion yuan, higher than the estimated 5.64 billion yuan and the 1.13 billion yuan recorded in the previous year.
- The gross profit margin improved to 70.3%, exceeding the estimated 69.3% and the previous year’s 64%.
- Selling and distribution expenses totaled 3.19 billion yuan, which was below the estimated 3.34 billion yuan, but up from 1.35 billion yuan year-over-year.
- Adjusted net income reached 4.71 billion yuan, beating the estimate of 4.15 billion yuan, up from 1.02 billion yuan year-over-year.
- Earnings per share (EPS) rose significantly to 342.95 yuan, compared to 69.22 yuan year-over-year.
- The company plans to enhance its online presence through increased investment in its official website and self-developed applications to boost promotions and improve functionality.
- Pop Mart aims to capitalize on its brand influence by collaborating with a wider range of global brands and artists.
- Analyst recommendations include 41 buys, 2 holds, and 1 sell.
Pop Mart on Smartkarma
Independent analysts on Smartkarma are closely following the investment potential of Pop Mart (9992 HK). Xinyao (Criss) Wang highlighted the growth outlook of Pop Mart, projecting overseas revenue to reach RMB16bn in 2025 and RMB42bn in 2026. While foreseeing uncertainties beyond 2026 due to channel policies and IP-driven factors, Wang emphasized the importance of assessing future growth potential for Pop Mart.
Similarly, Janaghan Jeyakumar, CFA, suggested that Pop Mart could be added to the HSCEI index in September 2025, potentially replacing J&T Global. This change could lead to significant one-way index flows of US$269mn. With a high likelihood of inclusion in the index, Pop Mart is a top pick for analysts expecting outperformance in the coming weeks. The official index changes for September 2025 will be announced soon, shaping the investment landscape for Pop Mart moving forward.
A look at Pop Mart Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 5 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Pop Mart International Group Limited, a toys wholesales company, is poised for long-term success based on its impressive Smartkarma Smart Scores. With a strong Growth score of 5, the company shows promising potential for expansion and increasing market share. Complementing this, Pop Mart also received high scores in Resilience and Momentum, indicating its ability to weather economic uncertainties and maintain positive market momentum.
Despite scoring lower in Value and Dividend, the overall outlook for Pop Mart remains optimistic due to its solid scores in key areas such as Growth, Resilience, and Momentum. As a company engaged in trendy toy design, production, and global marketing, Pop Mart International Group is well-positioned to thrive in the dynamic toy industry landscape, supported by its robust Smartkarma Smart Scores.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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