狂飙的泡泡玛特，冲向千亿营收

Core Insights - 2024 marks a significant year for Pop Mart, achieving a revenue of 13.04 billion yuan, a year-on-year increase of 106.9%, and an adjusted net profit of 3.4 billion yuan, up 185.9% [1] - The company aims to reach a revenue of 20 billion yuan in 2025, targeting over 50% year-on-year growth, with overseas business expected to exceed 10 billion yuan, achieving over 100% growth [1][5] Revenue Breakdown - Domestic revenue reached 7.97 billion yuan, a 52.3% increase, while overseas and Hong Kong, Macau, and Taiwan revenue was 5.07 billion yuan, growing 375.2%, accounting for 38.9% of total revenue [1] - Southeast Asia emerged as the highest revenue region with 2.4 billion yuan, representing 47.4% of overseas revenue and a staggering growth of 619.1% [2] IP Performance - LABUBU became a standout IP, generating 3 billion yuan in revenue, contributing over 20% to total revenue, and surpassing the previous leading IP, MOLLY [3] - MOLLY generated 2.09 billion yuan, up 105.2%, while SKULLPANDA reached 1.31 billion yuan, a 27.7% increase [3] Product Category Expansion - The company diversified its product categories, with figures showing 6.94 billion yuan from figurines, a 44.7% increase, while plush toys saw explosive growth at 2.83 billion yuan, up 1289% [4] Future Plans - Pop Mart plans to open approximately 100 new stores overseas, focusing on key urban locations and transportation hubs, with significant expansions planned in the US, Australia, France, Singapore, and Japan [2][5] - The company aims to enhance its brand presence and consumer experience, moving towards a more culturally enriched IP consumption experience [5]