Pop Mart's revenue in 2025 is 37.12 billion yuan, a year-on-year increase of 184.7%. Net profit increased by 308.8% year-on-year.

Ask AI · Pop Mart’s overseas revenue accounts for nearly half—how does its globalization strategy drive a surge in performance?

Author statement: This article was created with AI assistance

On March 25, Pop Mart International Group Limited (9992.HK) released its 2025 annual results report. The data shows that the company achieved full-year revenue of RMB 37.12 billion, up 184.7% year over year; net profit of RMB 13.01 billion, up 293.3%; and profit attributable to owners of the company of RMB 12.78 billion, up 308.8%.

Gross margin increased from 66.8% in 2024 to 72.1%, and operating profit rose to RMB 16.89 billion, up 306.6% year over year. The board of directors recommended paying a final dividend of RMB 2.3817 per ordinary share.

Overseas business revenue was RMB 16.27 billion, accounting for 43.8% of total revenue, up from 31.8% in 2024. Of this, revenue from the Americas was RMB 6.81 billion, up 748.4%; revenue from the Asia-Pacific region was RMB 8.01 billion, up 157.6%; and revenue from Europe and other regions was RMB 1.45 billion, up 506.3%.

In terms of IP revenue, THE MONSTERS generated RMB 14.16 billion, SKULLPANDA RMB 3.54 billion, CRYBABY RMB 2.93 billion, MOLLY RMB 2.90 billion, and DIMOO RMB 2.78 billion. Self-developed product revenue accounted for 99.1% of total revenue.

By product category, revenue from plush products was RMB 18.71 billion, up 560.6% year over year, and accounted for 50.4% of total revenue; revenue from collectible figures was RMB 12.02 billion, up 73.3% year over year, and accounted for 32.4% of total revenue.

As of the end of 2025, the company had a total of 630 stores worldwide, with a net increase of 109 during the year; 2,637 robot stores, with a net increase of 165. The total number of registered members on mainland China was 72.58 million, an increase of 26.50 million compared with the end of 2024. Member repurchase rate was 55.7%.

On the same day, the company announced that it would adjust the intended use of proceeds from its listing. It would reallocate the unutilized funds originally planned for acquiring IP to overseas market expansion and working capital, among other uses.

Pop Mart will hold its 2026 annual general meeting of shareholders on May 13, 2026, to consider matters including the distribution of the final dividend.