Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$173, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Specialty Retail industry in Hong Kong. Total returns to shareholders of 887% over the past three years. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Lian Wu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 05
Pop Mart International Group Limited to Report Fiscal Year 2025 Results on Mar 25, 2026 Pop Mart International Group Limited announced that they will report fiscal year 2025 results on Mar 25, 2026 Announcement • Aug 04
Pop Mart International Group Limited to Report First Half, 2025 Results on Aug 19, 2025 Pop Mart International Group Limited announced that they will report first half, 2025 results on Aug 19, 2025 Announcement • May 28
Pop Mart International Group Limited Approves Final Dividend for the Year Ended December 31, 2024, Payable on June 20, 2025 Pop Mart International Group Limited at its AGM held on May 27, 2025, approved a final dividend of Renminbi ("RMB") 81.46 cents per Share issued for the year ended December 31, 2024 (the "Final Dividend") will be paid in Hong Kong Dollar ("HKD") on June 20, 2025 to the Shareholders whose names shall appear on the register of members of the Company on June 4, 2025. Announcement • Mar 11
Pop Mart International Group Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 Pop Mart International Group Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to HK$75.20, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 8x in the Specialty Retail industry in Hong Kong. Total returns to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$49.14 per share. Buy Or Sell Opportunity • Oct 18
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 54% to HK$63.95. The fair value is estimated to be HK$51.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 77% in 2 years. Earnings are forecast to grow by 101% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$56.60, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 9x in the Specialty Retail industry in Hong Kong. Total returns to shareholders of 9.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$51.69 per share. Reported Earnings • Sep 25
First half 2024 earnings released: EPS: CN¥0.69 (vs CN¥0.35 in 1H 2023) First half 2024 results: EPS: CN¥0.69 (up from CN¥0.35 in 1H 2023). Revenue: CN¥4.56b (up 62% from 1H 2023). Net income: CN¥921.3m (up 93% from 1H 2023). Profit margin: 20% (up from 17% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Specialty Retail industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$47.95, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 7x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 13% over the past three years. Reported Earnings • Aug 21
First half 2024 earnings released: EPS: CN¥0.69 (vs CN¥0.35 in 1H 2023) First half 2024 results: EPS: CN¥0.69 (up from CN¥0.35 in 1H 2023). Revenue: CN¥4.56b (up 62% from 1H 2023). Net income: CN¥921.3m (up 93% from 1H 2023). Profit margin: 20% (up from 17% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Specialty Retail industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Aug 08
Pop Mart International Group Limited to Report First Half, 2024 Results on Aug 20, 2024 Pop Mart International Group Limited announced that they will report first half, 2024 results on Aug 20, 2024 Buy Or Sell Opportunity • Jul 12
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to HK$39.10. The fair value is estimated to be HK$31.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 22% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. Buy Or Sell Opportunity • May 30
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 75% to HK$37.10. The fair value is estimated to be HK$30.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 21% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Announcement • May 23
Pop Mart International Group Limited Approves Final Dividend for the Year Ended December 31, 2023, Payable on June 12, 2024 Pop Mart International Group Limited announced that at the AGM held on May 21, 2024, the company approved final dividend of 28.21 RMB cents per issued ordinary share of the Company for the year ended December 31, 2023, will be paid in HKD on June 12, 2024 to the Shareholders whose names shall appear on the register of members of the Company on May 30, 2024. Upcoming Dividend • May 16
Upcoming dividend of CN¥0.28 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 12 June 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (4.9%). Reported Earnings • Apr 27
Full year 2023 earnings released: EPS: CN¥0.81 (vs CN¥0.35 in FY 2022) Full year 2023 results: EPS: CN¥0.81 (up from CN¥0.35 in FY 2022). Revenue: CN¥6.30b (up 37% from FY 2022). Net income: CN¥1.08b (up 127% from FY 2022). Profit margin: 17% (up from 10% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Specialty Retail industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 85% to HK$34.55. The fair value is estimated to be HK$28.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. Declared Dividend • Mar 22
Dividend of CN¥0.28 announced Shareholders will receive a dividend of CN¥0.28. Ex-date: 23rd May 2024 Payment date: 12th June 2024 Dividend yield will be 1.0%, which is lower than the industry average of 5.5%. Payout Ratios Payout ratio: 35%. Cash payout ratio: 31%. Announcement • Mar 21
Pop Mart International Group Limited, Annual General Meeting, May 21, 2024 Pop Mart International Group Limited, Annual General Meeting, May 21, 2024. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: CN¥0.81 (vs CN¥0.35 in FY 2022) Full year 2023 results: EPS: CN¥0.81 (up from CN¥0.35 in FY 2022). Revenue: CN¥6.30b (up 37% from FY 2022). Net income: CN¥1.08b (up 127% from FY 2022). Profit margin: 17% (up from 10% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Specialty Retail industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Mar 21
Pop Mart International Group Limited Announces Board Changes The board of directors of Pop Mart International Group Limited announced that Ms. Yang Tao tendered her resignation as an executive Director with effect from March 20, 2024, in order to focus on IP operation and product R&D. She will remain as the vice president of the Company. The Board announced that Mr. Moon Duk II has been appointed as an executive Director of the Company with effect from March 20, 2024. Mr. Moon Duk II, aged 45, is the vice president and president of international business of the Company. Mr. Moon joined the Group in August 2018, responsible for overseeing the overseas business department of the Company. Prior to that, Mr. Moon served successively as a global business planning specialist, global business planning senior specialist and global business planning junior manager at the business development department of CJ CheilJedang Corporation from July 2013 to July 2018, and a manager of the global strategy department of CJ ENM from January 2009 to May 2013. From December 2004 to December 2008, Mr. Moon served at the planning management department of Lotte Cinema Co. Ltd. Mr. Moon received his bachelor's degree in Chinese from Konkuk University in Korea in February 2005, and his master's degree in business administration from Peking University in the PRC in July 2018. Mr. Moon has entered into a service agreement with the Company. The initial term of his service agreement shall commence from the Appointment Date and continue for a period of three years, and shall be subject to re-election as and when required under the articles of association of the Company, until terminated in accordance with the terms and conditions of the service agreement or by either party giving to the other not less than three months' prior notice in writing. Mr. Moon will not receive any director's fee from the Company as the remuneration of Mr. Moon will be covered by his current employment in the Company with reference to his responsibilities and performance and the prevailing market conditions and trends. Announcement • Mar 20
Pop Mart International Group Limited Proposes Ordinary Final Dividend for the Year Ended 31 December 2023, Payable on 12 June 2024 Pop Mart International Group Limited proposed ordinary final dividend of RMB 0.2821 per share for the year ended 31 December 2023, payable on 12 June 2024. Record date is 30 May 2024. Ex-dividend date is 23 May 2024. Date of shareholders' approval is 21 May 2024. Announcement • Mar 09
Pop Mart International Group Limited to Report Fiscal Year 2023 Results on Mar 20, 2024 Pop Mart International Group Limited announced that they will report fiscal year 2023 results on Mar 20, 2024 Reported Earnings • Aug 23
First half 2023 earnings released: EPS: CN¥0.35 (vs CN¥0.24 in 1H 2022) First half 2023 results: EPS: CN¥0.35 (up from CN¥0.24 in 1H 2022). Revenue: CN¥2.81b (up 19% from 1H 2022). Net income: CN¥476.6m (up 43% from 1H 2022). Profit margin: 17% (up from 14% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Specialty Retail industry in Hong Kong. Announcement • Aug 11
Pop Mart International Group Limited to Report First Half, 2023 Results on Aug 22, 2023 Pop Mart International Group Limited announced that they will report first half, 2023 results on Aug 22, 2023 Recent Insider Transactions • May 30
Key Executive recently bought HK$6.0m worth of stock On the 29th of May, De Si bought around 365k shares on-market at roughly HK$16.37 per share. This transaction amounted to 69% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$10.0m. De has been a buyer over the last 12 months, purchasing a net total of HK$16m worth in shares. Announcement • May 19
Pop Mart International Group Limited Approves Final Dividend for the Financial Year End 31 December 2022, Payable on June 8, 2023 Pop Mart International Group Limited announced that at the AGM held on May 17, 2023 approved final dividend of RMB 0.087 per share for the financial year end 31 December 2022. Ex-dividend date 19 May 2023, Record date 29 May 2023 and Payment date 08 June 2023. Upcoming Dividend • May 12
Upcoming dividend of CN¥0.087 per share at 0.5% yield Eligible shareholders must have bought the stock before 19 May 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (3.7%). Recent Insider Transactions • May 03
Key Executive recently bought HK$10.0m worth of stock On the 28th of April, De Si bought around 530k shares on-market at roughly HK$18.83 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was De's only on-market trade for the last 12 months. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CN¥0.35 (vs CN¥0.62 in FY 2021) Full year 2022 results: EPS: CN¥0.35 (down from CN¥0.62 in FY 2021). Revenue: CN¥4.62b (up 2.8% from FY 2021). Net income: CN¥475.7m (down 44% from FY 2021). Profit margin: 10% (down from 19% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Specialty Retail industry in Hong Kong. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$19.92, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 11x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 44% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$34.92 per share. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 17% share price gain to HK$23.25, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 11x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 45% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$36.67 per share. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 27% share price gain to HK$17.34, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 10x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 66% over the past year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Lian Wu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improved over the past week After last week's 21% share price gain to HK$13.50, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 77% over the past year. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorated over the past week After last week's 22% share price decline to HK$10.42, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 79% over the past year. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to HK$15.18, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 72% over the past year. Reported Earnings • Aug 26
First half 2022 earnings released: EPS: CN¥0.24 (vs CN¥0.26 in 1H 2021) First half 2022 results: EPS: CN¥0.24 (down from CN¥0.26 in 1H 2021). Revenue: CN¥2.36b (up 33% from 1H 2021). Net income: CN¥332.8m (down 7.2% from 1H 2021). Profit margin: 14% (down from 20% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 39%, compared to a 15% growth forecast for the Specialty Retail industry in Hong Kong. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$19.30, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 10x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 66% over the past year. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$29.55, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 11x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 56% over the past year. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 17% share price gain to HK$33.20, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 10x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 55% over the past year. Upcoming Dividend • May 30
Upcoming dividend of CN¥0.15 per share Eligible shareholders must have bought the stock before 06 June 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (3.3%). Reported Earnings • Apr 29
Full year 2021 earnings released: EPS: CN¥0.62 (vs CN¥0.44 in FY 2020) Full year 2021 results: EPS: CN¥0.62 (up from CN¥0.44 in FY 2020). Revenue: CN¥4.49b (up 79% from FY 2020). Net income: CN¥854.3m (up 63% from FY 2020). Profit margin: 19% (down from 21% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 45%, compared to a 22% growth forecast for the retail industry in Hong Kong. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: CN¥0.62 (vs CN¥0.44 in FY 2020) Full year 2021 results: EPS: CN¥0.62 (up from CN¥0.44 in FY 2020). Revenue: CN¥4.49b (up 79% from FY 2020). Net income: CN¥854.3m (up 63% from FY 2020). Profit margin: 19% (down from 21% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 49%, compared to a 22% growth forecast for the retail industry in Hong Kong. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$30.70, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 8x in the Specialty Retail industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$58.82 per share. Buying Opportunity • Jan 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be CN¥59.29, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 77% over the last year. Earnings per share has grown by 36% over the last year. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 15% share price gain to HK$48.55, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 9x in the Specialty Retail industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$59.18 per share. Reported Earnings • Oct 01
First half 2021 earnings released: EPS CN¥0.26 (vs CN¥0.12 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥1.77b (up 117% from 1H 2020). Net income: CN¥358.7m (up 154% from 1H 2020). Profit margin: 20% (up from 17% in 1H 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 30
First half 2021 earnings released: EPS CN¥0.26 (vs CN¥0.12 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥1.77b (up 117% from 1H 2020). Net income: CN¥358.7m (up 154% from 1H 2020). Profit margin: 20% (up from 17% in 1H 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 28
Full year 2020 earnings released: EPS CN¥0.44 (vs CN¥0.39 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥2.51b (up 49% from FY 2019). Net income: CN¥523.5m (up 16% from FY 2019). Profit margin: 21% (down from 27% in FY 2019). The decrease in margin was driven by higher expenses. Announcement • Apr 27
Pop Mart International Group Limited Resolves to Declare Final Dividend for the Year Ended December 31, 2020, Payable on July 30, 2021 The Board of Pop Mart International Group Limited has resolved to declare final dividend of 14.94 RMB cents per ordinary Share issued for the year ended December 31, 2020. The proposed final dividend is subject to the consideration and approval by the Shareholders at the forthcoming annual general meeting of the Company to be held on Tuesday, June 1, 2021. The final dividend is payable to the Shareholders whose names are listed in the register of members of the Company on June 7, 2021, in an aggregate amount of RMB 209,402,000. Once approved by the AGM, the final dividend is expected to be distributed on July 30, 2021. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS CN¥0.44 (vs CN¥0.39 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥2.51b (up 49% from FY 2019). Net income: CN¥523.5m (up 16% from FY 2019). Profit margin: 21% (down from 27% in FY 2019). The decrease in margin was driven by higher expenses. 
