At 10 PM tonight, the debut of POP MART's highly anticipated "Star Kid" character in its first plush vinyl series, titled "Animal Farm," triggered an immediate buying frenzy. The collection sold out within seconds across multiple online channels, underscoring the brand's strong consumer pull in the collectible toys market.
Notably, the series' hidden figure is currently trading at a staggering premium—nearly 14 times its official retail price of 129 yuan—surpassing the peak performance of the LABUBU Vintage Barbershop series during the same period this year. According to market observations on the Dewu App, more than 24,000 users had pre-registered for the series before sales began, and inventory was depleted almost instantly upon launch.
The hidden figure, named "Ugly Duckling," has seen a highest bid of 1,799 yuan, reflecting a roughly 14-fold increase from its launch price. This makes it one of the standout performers in this summer's collectible market in terms of secondary-market appreciation. Among the regular figures, "Warm Sheep" leads in transaction prices, with current market prices reaching up to 299 yuan. Other designs like "Stubborn Cowboy," "Innocent Pig," and "Trusting Puppy" also maintain robust circulation and trading activity.
On the same day, POP MART released its 2026 semi-annual report, revealing group revenue of 17.17 billion yuan for the first half of the year, a 23.8% year-on-year increase. Adjusted net profit reached 5.16 billion yuan, with an adjusted net margin of 30% and a gross margin of 69.7%. During this period, six major IPs each generated over 1 billion yuan in revenue, while 11 IPs surpassed the 100-million-yuan mark. THE MONSTERS ranked first with 4.45 billion yuan in revenue, while Star Kid climbed to second place with 2.65 billion yuan, posting a staggering growth rate of over 580%.
Other billion-yuan-level IPs also sustained growth in the first half: CRYBABY brought in 1.63 billion yuan, up 34%; DIMOO earned 1.62 billion yuan, a 46.5% increase; SKULLPANDA generated 1.55 billion yuan, rising 27.1%; and Hirono recorded 1.01 billion yuan, up 38.5%. Notably, MOLLY, which celebrated its 20th anniversary, saw revenue decline 33.6% to 900 million yuan, falling short of the billion-yuan IP threshold this period.
During the earnings call, POP MART founder Wang Ning commented that while LABUBU's growth in overseas markets has moderated, the company's IP portfolio is now more diversified and healthier than before. With Star Kid ascending to the number two position and IPs like CRYBABY and DIMOO continuing to expand, POP MART has reduced its reliance on any single character. In terms of revenue scale, THE MONSTERS remains the company's largest IP.