Episode Details

Apple CEO Tim Cook's unexpected appearance at Pop Mart's 10th anniversary showcase in China this week sparked both social media buzz and a stock rally.

本周，苹果公司首席执行官蒂姆・库克意外现身泡泡玛特中国十周年庆典活动，这一消息不仅在社交媒体上引发热议，还推动泡泡玛特股价上涨。

During his visit on Monday, Cook toured the "The Monsters" exhibition in Shanghai, met Pop Mart founder Wang Ning and artist Kasing Lung, and was gifted a custom Labubu figurine — a version of the brand's best-known character — clutching an iPhone. Videos and photos of Cook's meeting quickly went viral on social media, sending Pop Mart intraday shares up as much as 6 percent to HK$276.8 ($35.6) before paring gains to close at HK$263, with trading volume exceeding HK$4.4 billion.

周一，库克在上海参观了“精灵天团”主题展览，会见了泡泡玛特创始人王宁及艺术家龙家升，并获赠一款定制版拉布布手办——拉布布是该品牌最具知名度的形象，这款定制手办手持iPhone。库克此次活动的相关视频与照片迅速在社交媒体上走红，带动泡泡玛特当日股价一度上涨6%，升至276.8港元（约合35.6美元），随后涨幅收窄，最终以263港元收盘，当日成交额超44亿港元。

The company has reported record sales and a surge in demand for its collectibles across the globe. On Dewu App, a trendy online shopping platform, the Labubu third-generation series, released in April, has been purchased by 580,000 users, with more than 740,000 others listing it as "wanted". The hidden edition Labubu ID, initially priced at 99 yuan ($13.9), peaked at 4,523 yuan — a 45.7-fold increase — before falling back to around 664 yuan after restocks.

据泡泡玛特披露，其全球销售额创下新高，旗下收藏品需求大幅增长。在潮流购物平台得物App上，今年4月推出的拉布布第三代系列产品，已有58万名用户下单购买，另有超74万名用户将其加入“求购”清单。其中，拉布布隐藏款ID手办初始售价为99元（约合13.9美元），价格最高曾飙升至4523元，涨幅达45.7倍；在品牌补货后，该手办价格回落至664元左右。

Strong momentum was also seen in sales of its other intellectual properties such as Twinkle Twinkle and Skullpanda. Many figurines were sold out instantly upon release, driving robust resale premiums. Pop Mart's first-half 2025 financial report highlights its continued growth. Revenue from Labubu skyrocketed 6.7 times to 4.81 billion yuan, while Skullpanda brought in about 1.2 billion yuan, more than doubling from a year earlier.

除拉布布外，泡泡玛特旗下其他知识产权（IP）产品如星星人、 Skullpanda系列的销量同样势头强劲。多款手办一经发售便迅速售罄，推动二手市场溢价空间显著。泡泡玛特2025年上半年财报显示，公司持续保持增长态势：拉布布相关收入同比激增6.7倍，达48.1亿元；Skullpanda系列收入约12亿元，较去年同期实现翻倍增长。

The rise of Pop Mart mirrors a wider wave of Chinese guochao (domestic trend) brands gaining global attention. In the first three quarters, China's exports of festive supplies, dolls and animal-shaped toys exceeded 50 billion yuan, reaching more than 200 economies, said Wang Lingjun, vice-minister of the General Administration of Customs.

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