Pop Mart revenue doubles, earnings soar in 2024

Pop Mart International Group (HKEX:9992) announced stellar annual results for the year ended December 31, 2024, with revenue surging to RMB 13.04 billion, a 106.9% increase year-on-year. Profit attributable to owners of the company hit RMB 3.13 billion, up 188.8% from the previous year. Driving this growth was a robust performance from proprietary products, particularly artist IPs like THE MONSTERS, MOLLY, and SKULLPANDA. International expansion also played a key role, with revenue from Hong Kong, Macao, Taiwan and overseas markets growing by 375.2%. The company's board has recommended a final dividend of RMB 0.8146 per share. The company says it will continue to focus on IP development, product innovation, and global market expansion. Registered members in Mainland China reached 46.1 million, contributing 92.7% of total sales. Pop Mart is navigating global tax changes as well, currently assessing the impact of the new OECD Pillar Two legislation.