Summary by Futu AI
POP MART ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023, SHOWING THAT THE COMPANY'S REVENUE REACHED RMB6,301 MILLION, AN INCREASE OF 36.5% YEAR-ON-YEAR. Gross profit and profit for the year reached RMB3,864 million and RMB1,089 million, respectively, increasing 45.6% and 128.8%, respectively. Basic earnings per share were RMB0.81, an increase of 131.4% year-on-year. Bubble Mart said the growth in results was mainly driven by international market expansion, localization operations and the launch of new product lines. The Company repurchased approximately 2,000 million shares on the Hong Kong Stock Exchange during the reporting period at a total cost of approximately HK$3.71 million. The Board of Directors proposes to distribute a final dividend of RMB28.21 per share, and the total amount of the final dividend is expected to be RMB378.84 million. Bubble Mart Future will continue to enrich IP types, expand its IP library, and further cultivate the trendy toy business.