# Pop Mart financial performance and IP trends

> Live situation record from CLSTR: https://clstr.news/situations/pop-mart-financial-performance-and-ip-trends
> Updated: 2026-08-25T02:36:21.000Z. Sources: 9. Developments: 2.

Pop Mart reported a 23.8% year-on-year increase in first-half revenue, totaling RMB 17.17 billion. The company achieved an adjusted net profit of RMB 5.16 billion and a gross margin of 69.7%.

Growth was largely driven by the plush toy category, which saw a 60% increase, and strong performance from various intellectual properties (IP). While ‘The Monsters’ franchise, including the Labubu character, remains the largest contributor, its share of total revenue decreased from 34.7% to 26%. Other significant contributors included ‘Twinkle Twinkle’, Crybaby, Dimoo, SkullPanda, and Hirono.

Regional performance showed a sharp contrast: revenue from Greater China, Hong Kong, Macau, and Taiwan jumped 47.3%. However, the company faced declining sales outside of China as interest in the Labubu character waned. Following the financial disclosure, Pop Mart shares fell more than 4% in Hong Kong.

## Timeline

### 2026-08-25: Pop Mart reports rising revenue amid declining international sales

Pop Mart reported a 23.8% increase in first-half revenue to RMB17.17 billion, though shares fell in Hong Kong amid declining international sales and waning Labubu character hype.

5 sources. https://clstr.news/cluster/pop-mart-reports-rising-revenue-amid-declining-international-sales

### 2026-08-21: Pop Mart reports 23.8% revenue growth driven by plush toys and IP diversification

Pop Mart's first-half revenue rose 23.8% to RMB 17.17 billion, driven by a 60% surge in plush products and diversifying IP success beyond the Labubu franchise.

4 sources. https://clstr.news/cluster/pop-mart-reports-238-revenue-growth-driven-by-plush-toys-and-ip-diversification

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Cite as: Pop Mart financial performance and IP trends. CLSTR, https://clstr.news/situations/pop-mart-financial-performance-and-ip-trends