share_log

出海大获成功!泡泡玛特Q3营收同比翻番,海外业务营收暴增四倍! | 财报见闻

Great success in going global! Pop Mart's Q3 revenue doubled year-on-year, with overseas business revenue quadrupling! | Financial report insights

wallstreetcn ·  Oct 22 03:06

In the third quarter, pop mart's e-commerce platform revenue increased by 135%-140% year-on-year, offline retail store revenue increased by 30%-35% year-on-year, and siasun robot&automation store revenue increased by 20%-25% year-on-year. Pop mart previously stated that they have already achieved "creating another pop mart overseas".

Pop Mart has achieved great success in going overseas, with overseas business revenue in the third quarter increasing more than four times year-on-year, driving a doubling of the company's overall revenue.

On Tuesday, October 22nd, Pop Mart released its third quarter financial report:

In the third quarter, revenue increased by 120%-125% year-on-year, with mainland China revenue increasing by 55%-60% year-on-year, and Hong Kong, Macao, Taiwan, and overseas revenue increasing by 440%-445% year-on-year.

In terms of profit channels, in the third quarter:

Pop Mart's retail store revenue increased by 30%-35% year-on-year; siasun robot&automation shop revenue increased by 20%-25% year-on-year; Pop Mart's blind box machine revenue increased by 55%-60% year-on-year;

Revenue from e-commerce platforms and other online platforms increased by 135%-140% year-on-year, with Douyin platform revenue increasing by 115%-120% year-on-year, and Tmall flagship store revenue increasing by 155%-160% year-on-year;

Wholesale and other channels revenue increased by 45%-50% year-on-year.

Pop Mart fell by 0.24% today to HKD 63.45 per share, with a nearly 175% increase over the past year.

big

Pop Mart has achieved great success in its overseas expansion.

This year, Pop Mart's overseas business performance has been outstanding. In the first half of the year, revenue from Hong Kong, Macao, Taiwan, and overseas markets increased by 259.6% year-on-year. In the third quarter, revenue from Hong Kong, Macao, Taiwan, and overseas markets increased by 440% to 445% year-on-year. During the 2024 interim results briefing, Pop Mart revised its full-year performance guidance, expecting a revenue increase of over 60% for the year and over 200% for overseas revenue. If this target is achieved, Pop Mart's full-year revenue will exceed 10 billion RMB.

At the end of August's interim results briefing, Wang Ning, CEO of Pop Mart, stated that the company has successfully created another 'Pop Mart' overseas.

Overseas business has been the core business of Pop Mart in recent years. Last year, we expressed our desire to create another 'Pop Mart' overseas during the results briefing, which we achieved several months ahead of schedule.

Dolphin Fund Research analysis suggests that the overseas market, with higher pricing, also yields higher gross margins, nearly 10 percentage points higher than domestic markets. Moreover, due to the essence of exporting Chinese culture and design, within the circle of the first wave of overseas consumers (Oriental cultural circle + Chinese cultural circle), there is less need for entirely new and localized intellectual properties (IPs). Therefore, IP design expenses can be reused for the export market without incurring significant additional costs.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment