Pop Mart reported record interim results for H1 2025, with revenue climbing 204.4% YoY to 13.88 billion RMB ($1.94 billion) and net profit surging 396.5% to 4.57 billion RMB ($640 million). For the first time, plush toys overtook figurines, generating 6.14 billion RMB ($860 million) in sales, up 1,276% YoY and accounting for 44.2% of total revenue. The surge was largely driven by Labubu from The Monsters series, which delivered 4.81 billion RMB ($670 million) in sales, up 668%. All major IPs including Molly, Skullpanda, Crybaby, and Dimoo posted over 1 billion RMB ($140 million) in revenue each. Internationally, Pop Mart’s revenues more than doubled, with the Americas leading at 1,142% growth.