Pop Mart International Group Ltd Ordinary Shares

09992: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Pop Mart Earnings: Valuation Lifted by 17% on Stronger Top-Line Forecasts; Shares Fairly Priced

Jeff Zhang

Oct 22, 2025

Pop Mart saw a 245%-250% year-on-year revenue growth for the third quarter of 2025, mainly driven by a 365%-370% overseas top-line expansion, with the Americas and Europe continuing to serve as key growth engines. Domestic revenue also surged by 185%-190%, supported by strong online channel sales.

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Pop Mart International Group Ltd Ordinary Shares

Pop Mart Earnings: Valuation Lifted by 17% on Stronger Top-Line Forecasts; Shares Fairly Priced

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