On April 14, Wang Ning, Chairman and Chief Executive Officer of POP MART (9992.HK), issued an all-staff letter titled "Comprehensive Organizational Structure Upgrade to Advance the Group's Globalization Strategic Goals", announcing the immediate launch of a comprehensive upgrade of the global organizational structure. This is the largest structural adjustment for the company in five years.
The core of this upgrade is to focus on regional strategies by setting up regional headquarters in the China region, the Americas, Asia-Pacific, and Europe. Among them, Wen De-yi, Senior Vice President of POP MART International Group, is responsible for the operation and management of the Asia-Pacific and Europe regions, while Si De, Chief Operating Officer (COO), is in charge of the operation and management of the China and Americas regions.
POP MART, a Chinese famous entertainment company, has more than 4,000 employees, with its headquarters located in Beijing. Its business scope includes retail stores, product R&D, IP licensing, APP development, and hosting large-scale pop toy exhibitions. POP MART's globalization journey began in 2018. So far, its overseas business has achieved full offline and online presence in more than 20 countries and regions.
POP MART's 2024 annual financial report shows that last year the company achieved a revenue of CNY 13.04 billion, a year-on-year increase of 106.9%. Its adjusted net profit reached CNY 3.4 billion, a year-on-year increase of 185.9%. Among them, the revenue in mainland China was CNY 7.97 billion, a year-on-year increase of 52.3%; the revenue from overseas and Hong Kong, Macao, and Taiwan businesses was CNY 5.07 billion, a year-on-year increase of 375.2%, accounting for 38.9% of the total revenue.
In 2024, POP MART divided its overseas business into four major regions for the first time. Among them, the revenue in the Southeast Asian market was CNY 2.4 billion, accounting for 47.4% and showing a year-on-year increase of 619.1%. It was the region with the highest revenue proportion and the fastest business growth rate among the four major regions. The revenue in the East Asia and Hong Kong, Macao, and Taiwan regions was CNY 1.39 billion, accounting for 27.4% with a year-on-year increase of 184.6%. The revenue in the North American market was CNY 720 million, accounting for 14.3% and increasing by 556.9% year-on-year. The revenue in Europe, Australia, and other markets was CNY 550 million, accounting for 10.9% and rising by 310.7% year-on-year.