Pop Mart International Group Ltd Ordinary Shares

09992: XHKG (HKG)

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Pop Mart Should Continue to Benefit From Overseas Expansions and Strong Operating Leverage

Jeff Zhang

Jul 16, 2025

Business Strategy and Outlook

Pop Mart has maintained its sales leadership in China’s pop toy market over the past few years, thanks to the successful commercialization of toy products based on intellectual properties, or IPs. The firm sources IPs from self-incubation, acquisitions, and licensing agreements with third-party IP owners. Despite heavy competition in the pop toy sector, Pop Mart has gained significant popularity with IPs such as The Monsters, Molly, and Crybaby, which are well-received by global fans.

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Pop Mart International Group Ltd Ordinary Shares

Pop Mart Should Continue to Benefit From Overseas Expansions and Strong Operating Leverage

Business Strategy and Outlook

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