Pop Mart, a global leader in pop culture and entertainment products, has released its financial report for 2024.
The company continues to experience remarkable growth, with revenue surpassing 13 billion renminbi (RMB). This represents a year-on-year increase of 106.9%, along with an adjusted net profit of 4.4 billion RMB, up 185.9% compared to the previous year.
Revenue from Mainland China reached 7.97 billion RMB, reflecting a year-on-year growth of 52.3%. In addition, revenue from markets outside Mainland China, including Hong Kong, Macao, and Taiwan, totaled 5.07 billion RMB, marking a significant increase of 375.2% year-on-year.
In 2024, the company organized its product offerings into four main categories. Notably, four key intellectual properties (IPs) exceeded 1 billion RMB in revenue for the first time in the company’s history. The plush toys category saw explosive growth, generating revenue of 2.83 billion RMB, a staggering increase of 1289% year-on-year, accounting for 21.7% of the total revenue.
By the end of 2024, the company’s gross profit margin reached a record 66.8%, up by 5.5 percentage points from 61.3% in 2023. While the company has a strong presence in China, it also earned 40% of its total revenue from international markets in 2024. Its business has expanded to nearly 100 countries and regions worldwide.
For more information, visit popmart.com.
