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Pop Mart: In the first half of the year, the group's 6 major IPs generated over 1 billion in revenue, with 11 IPs earning over 100 million. THE MONSTERS ranked first with revenue of 4.45 billion yuan, followed by Star People with 2.65 billion yuan, achieving a growth rate of over 580%. The semi-annual report disclosed that Pop Mart operates 676 offline stores and 2,827 robot stores worldwide, with a total registered membership exceeding 100 million globally. Among them, the Chinese market operates 455 stores, generating revenue of 12.2 billion yuan, achieving a growth of 47.3%. Although the number of stores did not increase significantly, performance growth was steady, and operational quality further improved. To date, Pop Mart has established offices in more than 20 countries and regions worldwide, and has set up regional headquarters in Los Angeles, London, Singapore, and other locations. The global workforce exceeds 12,000 employees, strengthening the talent foundation, and the enhancement of organizational capabilities provides solid support for the long-term development of the business.