Chinese designer toy and pop-culture retailer monetizing character intellectual property through blind boxes and collectible products.
Profile & Fundamentals
Pop Mart: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Pop Mart Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Pop Mart International Group Limited, an investment holding company, designs, develops, and sells pop toys in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. The company offers blind boxes. It sells its products through a network of retail stores and roboshops; online channels, including Tmall flagship store, DouYin, Pop Draw, and other online channels; and wholesale channels and others. The company also provides internet technology, customer, and technology development services; and operates playgrounds, as well as engages in investment and exhibition activities. Pop Mart International Group Limited was founded in 2010 and is headquartered in Beijing, the People's Republic of China.
Company profile record
Pop Mart International Group Ltd
Common Stock · Consumer Discretionary · Leisure Products
Company
- Company / asset
- Pop Mart International Group Ltd
- Security type
- Common Stock
- Sector
- Consumer Discretionary
- Industry
- Leisure Products
- HQ
- 🇨🇳 China
- Head office
- Puxiang Center, Beijing, China, 100102
Leadership & scale
- Chief executive
- Mr. Ning Wang
- CEO year born
- 1988
- Full-time employees
- 12.1K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- HKD 200.0B
- P/E
- 9.1x
- Revenue (Q2 26)
- CNY 16.9B
- Profit (Q2 26)
- CNY 5.0B
- Dividend Yield
- 1.8%
- Revenue (FY 25)
- CNY 36.2B
- Shares in public float
- 652M
- Insider ownership
- 50%
Reporting & identifiers
- Symbol
- 9992.HKEX
- Listing
- 🇭🇰 Hong Kong | Dividend Tax: 0%
- Ticker Currency
- HKD
- Income Statement Currency
- CNY
- Balance Sheet Currency
- CNY
- Cash Flow Currency
- CNY
- EPS Currency
- CNY
- Contract Type
- SPOT
- ISIN
- KYG7170M1033
- Asset ID
- equity_804a2def-b0be-59de-ae2c-48ecef21117b
Ownership
Shares Outstanding
Latest: 1.3B | Max: 1.4B | Min: 1.2B
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
49.10%
652.0M latest reported shares
Insider Ownership
50.00%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 1,381,580,400 |
| 2018-01-01 | 1,381,580,400 |
| 2019-01-01 | 1,154,566,000 |
| 2020-01-01 | 1,271,703,000 |
| 2021-01-01 | 1,379,071,000 |
| 2022-01-01 | 1,356,160,000 |
| 2023-01-01 | 1,335,505,000 |
| 2024-01-01 | 1,333,059,000 |
| 2025-01-01 | 1,342,942,000 |
| 2026-01-01 | 1,327,866,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Pop Mart's financial performance demonstrates an impressive operational transition from explosive viral expansion into stable, cash-generative maturity. Full-year 2025 revenue surged over 180% to 36.2 billion Renminbi, driven by global craze-level demand. For the first half of 2026, revenue growth moderated to a still-robust 23.8% at 17.17 billion Renminbi, while net profit rose 10.1% to 5.04 billion Renminbi. Beneath this headline slowdown lies an encouraging story of product diversification. Strong mainland membership repeat sales and secondary character growth offset an 11% overseas sales decline, proving the business is not a fragile one-character vendor. Operating cash flows remain exceptionally healthy, funding corporate expansion internally.
Pop Mart's financial performance demonstrates an impressive operational transition from explosive viral expansion into stable, cash-generative maturity. Full-year 2025 revenue surged over 180% to 36.2 billion Renminbi, driven by global craze-level demand. For the first half of 2026, revenue growth moderated to a still-robust 23.8% at 17.17 billion Renminbi, while net profit rose 10.1% to 5.04 billion Renminbi. Beneath this headline slowdown lies an encouraging story of product diversification. Strong mainland membership repeat sales and secondary character growth offset an 11% overseas sales decline, proving the business is not a fragile one-character vendor. Operating cash flows remain exceptionally healthy, funding corporate expansion internally.
Revenue, Net Income, and Free Cash Flow
Latest: CNY 36.2B | Max: CNY 36.2B | Min: CNY 1.6M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 15x
Profitability & Margins
Margins and Operating Efficiency
AI Review
The company commands rare pricing power within consumer retail, defending gross profit margins near 70%. In fiscal 2025, operating margins peaked above 45% during the viral crest of plush sales. For the first half of 2026, gross margins held firm at 69.7%, although adjusted net margins adjusted toward 30% due to overseas investments. This margin resilience demonstrates that customers purchase emotional brand connection rather than cheap plastic toys. While foreign store opening expenses and export shipping duties create modest near-term overhead, the underlying unit profitability provides an immense cushion against rising costs and inflationary pressures.
The company commands rare pricing power within consumer retail, defending gross profit margins near 70%. In fiscal 2025, operating margins peaked above 45% during the viral crest of plush sales. For the first half of 2026, gross margins held firm at 69.7%, although adjusted net margins adjusted toward 30% due to overseas investments. This margin resilience demonstrates that customers purchase emotional brand connection rather than cheap plastic toys. While foreign store opening expenses and export shipping duties create modest near-term overhead, the underlying unit profitability provides an immense cushion against rising costs and inflationary pressures.
Profitability Margins
Latest: 72.1% | Max: 72.1% | Min: 1.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
72.1%
Gross profit / revenue
Operating Margin
45.5%
Operating income / revenue
Net Margin
34.4%
Net income / revenue
FCF Margin
26.7%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2017-12-31 | 24,281,720.43 | 241,013.82 | 590,541.94 |
| 2018-12-31 | 74,783,575.58 | 14,465,261.63 | 21,076,327.62 |
| 2019-12-31 | 241,872,701.15 | 64,815,804.6 | 57,103,924.71 |
| 2020-12-31 | 384,911,332.31 | 80,169,218.99 | 69,460,963.09 |
| 2021-12-31 | 706,077,201.26 | 134,330,031.45 | 69,933,427.2 |
| 2022-12-31 | 669,177,391.3 | 68,936,231.88 | 81,680,233.77 |
| 2023-12-31 | 806,786,427.66 | 138,584,379 | 226,484,782.82 |
| 2024-12-31 | 1,677,959,974.26 | 402,248,777.35 | 583,922,873.75 |
| 2025-12-31 | 5,173,010,586.55 | 1,780,406,294.71 | 1,383,400,587.98 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 14.77 | Trailing four quarters |
| 2024-12-31 | 28.22 | Trailing four quarters |
| 2022-12-31 | 49.92 | Annual net income |
| 2021-12-31 | 58.83 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2017-12-31 | 47.61 | 2.77 | 0.99 | 2.43 |
| 2018-12-31 | 57.92 | 25.97 | 19.34 | 28.18 |
| 2019-12-31 | 64.77 | 35.57 | 26.8 | 23.61 |
| 2020-12-31 | 63.42 | 28.6 | 20.83 | 18.05 |
| 2021-12-31 | 61.43 | 25.6 | 19.02 | 9.9 |
| 2022-12-31 | 57.49 | 12.63 | 10.3 | 12.21 |
| 2023-12-31 | 61.32 | 19.53 | 17.18 | 28.07 |
| 2024-12-31 | 66.79 | 31.86 | 23.97 | 34.8 |
| 2025-12-31 | 72.1 | 45.53 | 34.42 | 26.74 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-10-01.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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