POP MART sees revenue, profits jump

POP MART, China's leading pop culture and entertainment company, has recorded strong growth in revenue and profits year-on-year, boosted by its popular intellectual properties and the expansion of its stores online and offline.

The company has reached revenue of 4.49 billion yuan ($704.5 million), up 78.7 percent year-on-year, and a net income of 1 billion yuan, an increase of 69.6 percent, according to its annual financial results for 2021, which were released on Monday.

The leading toy maker has reached 19.58 million registered members, including 12.18 million new members.

In 2021, members contributed to 92.2 percent of sales, and the repurchase rate of members was 56.5 percent.

Existing IPs continued to add revenue. Seven top IPs generated revenue of over 100 million yuan, while new IPs showed strong development momentum.

Revenue generated from MOLLY has maintained strong growth through new product launches, cross-border cooperation, theme exhibitions and other operations. In 2021, MOLLY hit revenue of 705 million yuan, an increase of 97.6 percent year-on-year.

Other top IPs such as DIMOO and SKULLPANDA achieved revenue of 567 and 595 million yuan, respectively, with a year-on-year increase of 79.8 percent and 1,423.8 percent in 2021. The company launched many new IPs, such as Sweet Bean and the new IP HIRONO, which was released in October. In 2021, SWEET BEAN achieved revenue of over 162 million yuan, a year-on-year increase of 458.1 percent. HIRONO generated 52.2 million yuan in revenue.

Last year, POP MART launched the high-end designer toy product line MEGA COLLECTION, achieving total revenue of 178 million yuan.

The company expanded its retail outlets aggressively last year.

POP MART launched 106 new stores on the Chinese mainland, with total stores rising from 187 in late 2020 to 288 in 2021. It has also worked on improving the quality of its offline stores. Last year the company opened stores at Universal Beijing Resort and Shanghai Disney Resort.

Fiscal results show its online channels developed rapidly, and the revenue of POP Draw, a mini-program on WeChat developed by POP MART, was 898 million yuan, an increase of 92.6 percent year-on-year.

Its JD flagship store and Tmall flagship store saw revenue of 143 and 599 million yuan, respectively, with an increase of 296 percent and 47.5 percent year-on-year, ranking first in Tmall's Double 11 toy category sales for the third consecutive year.

Last year, the company's overseas business expanded steadily. By the end of 2021, the company had opened seven overseas stores, including its first store in Europe which opened last year.

POP MART also signed an agreement with the operator of Chaoyang Park in Beijing to build POP MART's first theme park.

wangzhuoqiong@chinadaily.com.cn