China's Pop Mart hits record high on H1 earnings surge

Pop Mart International

20/08/2025 04:35

** China's Pop Mart 9992.HK rises 5.1% to HK$295, highest since debut in December 2020

** Stock set for biggest one-day pct gain since August 6

** Pop Mart, which has taken the world by storm with its ugly-cute Labubu dolls, reports ~400% y/y jump in H1 net profit on high demand, shift toward higher-margin overseas markets

** Firm's executives bullish on animation, theme parks, global expansion; says further geographic expansion to emerging markets being explored

** Citi reiterates "buy", says earnings better than expected

** Sees Pop Mart's strong capability in IP incubation, operation and overseas expansion to continue underpinning its solid growth momentum in 2H FY25

** YTD, stock surges 228.4%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))