POP MART: In the first half of the year, revenue from plush products increased by 1276.2% year-on-year to 6.139 billion yuan, accounting for 44.2% of total revenue

POP MART's semi-annual report shows that in the first half of 2025, plush products achieved revenue of RMB 6.139 billion, a year-on-year increase of 1276.2%, accounting for 44.2% of total revenue. POP MART stated that the company focuses on IP, creating a significantly differentiated plush product line by grasping the unique characteristics of different IPs. At the same time, relying on LABUBU's experience in vinyl plush products, it presents the characteristics of different IPs based on vinyl technology, combined with spray coloring technology and fashion fabrics