Pop Mart’s 2026 interim report showed first-half revenue of 17.17 billion yuan, up 23.8% year over year, with adjusted net profit of 5.16 billion yuan, a 30% net profit margin and a 69.7% gross margin. THE MONSTERS, which includes LABUBU, led revenue at 4.45 billion yuan, while Starry People (星星人) generated 2.65 billion yuan, up 580.6%. Six IP franchises each exceeded 1 billion yuan in revenue and 11 exceeded 100 million yuan. Pop Mart operated 676 physical stores and 2,827 robot stores globally, with more than 100 million registered members. Founder Wang Ning said first-half growth exceeded 20% but warned that difficulties and pressure could increase in the second half, making the established 20% full-year growth target unlikely. The company plans a share buyback of 2 billion yuan to 5 billion yuan over six months. Shares fell nearly 8% at one point after the report, while major shareholder Duan Yongping defended the company’s long-term prospects and dismissed concerns about regional online sales.