BRIEF: Pop Mart profit quadruples on overseas growth, popular toys
Leading collectible toy brand Pop Mart International Group Ltd. (9992.HK) announced on Tuesday that its revenue rose 200% or more year-on-year in the first half of this year. It said it expects to report its net profit, excluding the impact of fair value changes in financial instruments, rose by 350% during the period.
The maker of popular Labubu toys attributed the major growth to stronger global traction for its brand and intellectual properties (IPs), a more diversified product portfolio, continued expansion in overseas markets, and enhanced profitability driven by economies of scale and cost control.
Pop Mart’s share opened lower on Wednesday and closed at HK$246.4 by the midday break, down 6.38%.
By Lee Shih Ta
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