POP MART's core small home appliance OEM is Xinbao Electrical Appliances Holdings; large-scale stocking has begun

During POP MART's earnings conference call, Chairman and CEO Wang Ning stated that the company will launch IP-centric derivative small home appliance products in April, which will be sold on e-commerce platforms such as JD.com. In response, a reporter learned from an insider that POP MART's core small home appliance OEM partner is Xinbao Electrical Appliances Holdings. It is understood that the cooperation model between the two parties primarily involves OEM production, with current product categories including electric kettles, coffee makers, electric toothbrushes, and hair dryers. The company has now entered a large-scale stocking phase. The target market plan is likely to be domestic first, followed by overseas." (Lanjinger News)