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09992 泡泡瑪特國際集團
Pop Mart International Group
Listing Date2020/12/11
Listing Price38.500
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Pop Mart has established an integrated platform covering the entire industry chain of pop toys, including artists development, IP operation, consumer access and pop toy culture promotion. It is the largest and fastest-growing pop toy company in China, in terms of retail value in 2019 with a market share of 8.5% and revenue growth from 2017 to 2019, respectively, according to the Frost & Sullivan Report. IP is at the core of its business.

The Group develops a broad array of pop toy products based on its IPs. It labels all such pop toy products it developed with its “Pop Mart” brand, which are grouped as Pop Mart brand products. Through its membership program, online pop toy community, and various pop toy culture events hosted by us, it has formed a large and engaging fan community.

The Group has attracted and maintained a pool of high-quality IP resources in the pop toy industry by working with artists, established IP providers and its in-house design team. As of June 30, 2020, it operated 93 IPs, including 12 proprietary IPs, 25 exclusive licensed IPs and 56 non-exclusive licensed IPs.

As of June 30, 2020, its sales and distribution network consisted of 136 retail stores in 33 cities in China, primarily located at major commercial districts in first-tier and second-tier cities; 1,001 innovative roboshops in 62 cities in China; fast-growing online channels, including its Tmall flagship store, Pop Draw, Paqu, and other mainstream e-commerce platforms in China; and wholesale channels, primarily consisting of 25 distributors in China and 22 distributors in 21 overseas countries and regions such as Korea, Japan, Singapore and the United States. Also, the Group had a total of 3.6 million registered members.

In addition to Pop Mart brand products, the Group also sells third-party products from selected third-party suppliers, such as blind boxes, action figures, puzzles, plush toys, electronics and accessories, primarily from selected third-party brand owners.

MarketHong Kong (Main Board)
Business NatureHousehold & Personal Products
Board Lot200
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
No. of Offer Shares136m shares
No. of International Offer Shares119m shares
No. of HK Offer Shares16.29m shares
Offer Price$31.50 - $38.50
Nominal ValueUS$ 0.0001 each
Stock Code9992
Joint SponsorsMorgan Stanley Asia, CLSA Capital Markets
Joint Global CoordinatorsMorgan Stanley Asia, CLSA, China Renaissance Securities (Hong Kong)
Joint Bookrunners and Joint Lead ManagersMorgan Stanley Asia, Morgan Stanley & Co. International, CLSA, China Renaissance Securities (Hong Kong)
Application PeriodDec 1 (Tue) - Noon, Dec 4 (Fri)
Price Determination DateOn or Before 5pm, Dec 4 (Fri)
Result Announcement DateOn or Before Dec 10 (Thu)
Dispatch of Shares and Refund ChequesOn or Before Dec 10 (Thu)
Dealings in Shares commence onDec 11, 2020. (Fri)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription11X - 39X39X - 79XOver 79X
% of total shares reallocated to HK Offer18%24%47%
ExecutiveWang Ning (Chairman), Yang Tao, Liu Ran, Si De
Non-ExecutiveTu Zheng, He Yu
Independent Non-ExecutiveZhang Jianjun, Wu Liansheng, Ngan King Leung Gary
Director Wang Ning49.80%
(Year ended Dec 31)
2020 *20192018
Gross Profit533,4391,090,334298,025
Pre-Taxed Profit196,882598,375132,260
Attributable Profit for the period141,358451,11899,521
* For the six months ended June 30, 2020.
Offer Price$31.50 - $38.50
Capitalization$43,520m - $53,191m
Unaudited pro forma adj NAV / share$4.03 - $4.71
Assuming the offer price being at the mid-point of $35.00, the net proceeds raised would be HK$4,568.8m, of which:
* $1,370.6m (30.0%) to finance part of our expansion plans of consumer access channels and overseas markets ;
* $1,233.6m (27.0%) to fund its potential investments in, acquisitions of and strategic alliance with companies along the value chain of industry;
* $685.3m (15.0%) to invest in technology initiatives to strengthen marketing and fan engagement efforts, and to enhance the digitalization of business;
* $822.4m (18.0%) to expand its IP pool; and
* the balance of $456.9m (10.0%) as additional working capital.
Code Name Nominal Change %Change
08545AMUSE GROUPup0.1200.0043.448%
09992POP MARTdown50.650-3.650-6.722%
15-min delayed, last updated: 02/12/2021 17:59
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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