Pop Mart's 2025 performance hits a new high, with fruitful results from the IP matrix, yet in the afternoon, the stock price plummeted over 22%.

The financial report for 2025 recently released by Pop Mart International Group shows that the company’s annual revenue has surpassed the 30 billion yuan mark for the first time, reaching 37.12 billion yuan, with a year-on-year growth rate of 184.7%; adjusted net profit reached 13.08 billion yuan, a year-on-year increase of 284.5%. This impressive report signifies the group’s strengthened leading position in the global trend culture sector, with multiple core operating indicators hitting historical highs.

In terms of IP operations, the “one super, many strong” pattern established by Pop Mart has shown significant results. The core IP THE MONSTERS (including LABUBU) generated global revenue exceeding 14.16 billion yuan, up 365.7% year-on-year, successfully entering the ranks of world-class IPs. Notably, the six major IPs including SKULLPANDA, CRYBABY, MOLLY, DIMOO, and Star People all achieved annual revenues exceeding 2 billion yuan, while an additional 17 IPs reached annual revenues over 100 million yuan, reflecting a continuous increase from 13 IPs exceeding 100 million in the first half of 2025, showcasing strong IP incubation capabilities.

After 16 years of deep cultivation, Pop Mart has nurtured multiple trend IPs with global influence. The group continues to promote brand and IP development through differentiated operational strategies, achieving exponential growth in revenue scale while significantly enhancing operational quality. Financial report data shows that the company’s gross margin and net margin key indicators are continuously optimizing, reflecting excellent profitability and a healthy development trend.

Despite strong performance, the capital market’s response has been mixed. During the Hong Kong stock trading period on March 25, Pop Mart’s stock price suddenly plummeted, closing down over 22%, attracting widespread market attention. This unusual volatility sharply contrasts with the financial report data released during the same period, and the specific reasons require further observation and analysis.