1、2022中期報告二零二二年中報 INTERIM REPORT 202212 Corporate Information 公司資料6 Financial Summary 財務概要7 Management Discussion and Analysis 管理層討論與分析34 Other Information 其他資料43 Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 中期簡明綜合損益及其他全面收益表45 Interim Condensed Consolidated

2、 Balance Sheet 中期簡明綜合資產負債表48 Interim Condensed Consolidated Statements of Changes in Equity 中期簡明綜合權益變動表50 Interim Condensed Consolidated Statements of Cash Flows 中期簡明綜合現金流量表52 Notes to the Interim Condensed Consolidated Financial Information 中期簡明綜合財務資料附註CONTENTS目錄POP MART INTERNATIONAL GROUP LIMITED

3、 泡泡瑪特國際集團有限公司 2CORPORATE INFORMATION公司資料董事會執行董事王寧先生（董事會主席）楊濤女士劉冉女士司德先生非執行董事屠錚先生何愚先生獨立非執行董事張建君先生吳聯生先生顏勁良先生薪酬委員會張建君先生（主席）吳聯生先生王寧先生提名委員會王寧先生（主席）張建君先生吳聯生先生審核委員會吳聯生先生（主席）屠錚先生顏勁良先生聯席公司秘書李鴻軒先生李菁怡女士BOARD OF DIRECTORSExecutive DirectorsMr.Wang Ning(Chairman of the Board)Ms.Yang TaoMs.Liu RanMr.Si DeNon-Execu

4、tive DirectorsMr.Tu ZhengMr.He YuIndependent Non-Executive DirectorsMr.Zhang JianjunMr.Wu LianshengMr.Ngan King Leung GaryREMUNERATION COMMITTEEMr.Zhang Jianjun(Chairman)Mr.Wu LianshengMr.Wang NingNOMINATION COMMITTEEMr.Wang Ning(Chairman)Mr.Zhang JianjunMr.Wu LianshengAUDIT COMMITTEEMr.Wu Liansheng

5、(Chairman)Mr.Tu ZhengMr.Ngan King Leung GaryJOINT COMPANY SECRETARIESMr.Li HongxuanMs.Li Ching Yi二零二二年中報 INTERIM REPORT 20223CORPORATE INFORMATION公司資料授權代表王寧先生李菁怡女士總部及中國主要營業地點中國北京市朝陽區大望京科技商務園區宏泰東街浦項中心A座36及37樓香港主要營業地點香港德輔道中188號金龍中心14樓股份過戶登記總處Maples Fund Services(Cayman)LimitedPO Box 1093Boundary HallC

6、ricket SquareGrand Cayman KY1-1102Cayman Islands香港股份過戶登記處香港中央證券登記有限公司香港灣仔皇后大道東183號合和中心17樓1712-1716號舖AUTHORISED REPRESENTATIVESMr.Wang NingMs.Li Ching YiHEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN THE PRCFloor 36&37,Block A,Puxiang CenterHongtai East StreetDawangjing Technology Business ParkChaoy

7、ang District,BeijingPRCPRINCIPAL PLACE OF BUSINESS IN HONG KONG14/F,Golden Centre188 Des Voeux Road CentralHong KongPRINCIPAL SHARE REGISTRARMaples Fund Services(Cayman)LimitedPO Box 1093Boundary HallCricket SquareGrand Cayman KY1-1102Cayman IslandsHONG KONG SHARE REGISTRARComputershare Hong Kong In

8、vestor Services LimitedShops th Floor Hopewell Centre183 Queens Road EastWanchaiHong KongPOP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 4CORPORATE INFORMATION公司資料主要往來銀行中國工商銀行股份有限公司（珠市口支行）中國北京市崇文區珠市口東大街15號交通銀行股份有限公司（望京支行）中國北京市朝陽區望京街9號望京國際商業中心中國民生銀行股份有限公司（望京支行）中國北京市朝陽區廣順北大街南湖東園一區122號樓博泰國

9、際B座公司網站法律顧問有關香港法律達維律師事務所香港中環遮打道3A號香港會所大廈18樓有關中國法律競天公誠律師事務所中國上海市徐匯區淮海中路1010號嘉華中心45層郵政編碼：200031有關開曼群島法律邁普達律師事務所（香港）有限法律責任合夥香港灣仔港灣道18號中環廣場26樓PRINCIPAL BANKSIndustrial and Commercial Bank of China Limited(Zhu Shi Kou Branch)No.15,East Street,ZhushikouChongwen District,Beijing,PRCBank of Communications C

10、o.,Ltd.(Wang Jing Branch)Wangjing International Commerce CenterNo.9,Wangjing Street,Chaoyang District,Beijing,PRCChina Minsheng Banking Corp.,Ltd.(Wang Jing Branch)Botai International,Block B,Building 122District 1,Nanhu East Part,Guangshun North StreetChaoyang District,Beijing,PRCCOMPANY WEBSITELEG

11、AL ADVISERSAs to Hong Kong lawsDavis Polk&Wardwell18th Floor,The Hong Kong Club Building3A Chater RoadCentralHong KongAs to PRC lawsJingtian&Gongcheng45/F,K.Wah Centre1010 Huaihai Road(M)Xuhui DistrictShanghai 200031PRCAs to Cayman Islands lawsMaples and Calder(Hong Kong)LLP26th Floor,Central Plaza1

12、8 Harbour RoadWanchai,Hong Kong二零二二年中報 INTERIM REPORT 20225CORPORATE INFORMATION公司資料核數師羅兵咸永道會計師事務所執業會計師註冊公眾利益實體核數師香港中環太子大廈22樓股份代號9992AUDITORPricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22/F,Princes BuildingCentral,Hong KongSTOCK CODE9992POP MART INTERNAT

13、IONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 6FINANCIAL SUMMARY財務概要For the six months ended30 June截至6月30日止六個月UnauditedUnaudited未經審核未經審核20222021Change2022年2021年本期比上年同期變動RMB000RMB000人民幣千元人民幣千元 Revenue收益2,358,8181,772,57733.1%Gross profit毛利1,370,4071,117,06522.7%Operating profit經營溢利446,057486,687-8.3%Profit before

14、 income tax除所得稅前溢利457,936496,555-7.8%Profit for the period期內溢利332,945358,798-7.2%Profit attributable to owners of the Company 本公司擁有人應佔溢利332,820358,742-7.2%Non-IFRS adjusted net profit 非國際財務報告準則經調整純利376,285435,189-13.5%Gross profit margin毛利率58.1%63.0%Net profit margin純利率14.1%20.2%Non-IFRS adjusted ne

15、t profit margin非國際財務報告準則經調整純利率16.0%24.6%UnauditedAudited未經審核經審核As at 30 June 2022As at 31 December 2021Change於2022年6月30日於2021年12月31日本期末比上年年末變動RMB000RMB000人民幣千元人民幣千元 Assets資產Non-current assets非流動資產1,747,9211,566,33711.6%Current assets流動資產6,841,9536,757,2891.3%Total assets資產總值8,589,8748,323,6263.2%Equ

16、ity權益Total equity權益總額7,114,1836,820,0064.3%Liabilities負債Non-current liabilities非流動負債449,569410,9149.4%Current liabilities流動負債1,026,1221,092,706-6.1%Total liabilities負債總額1,475,6911,503,620-1.9%二零二二年中報 INTERIM REPORT 20227MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析業務回顧2022年上半年由於疫情反覆，多個主要地區及城市限制出行，對各地經濟

17、造成了短期的影響。儘管疫情對消費行業造成了巨大衝擊，我們的收入仍達到人民幣2,358.8百萬元，同比有33.1%的增長，非國際財務報告準則經調整純利達到人民幣376.3百萬元。期內，我們戰略重點是進一步深耕潮流玩具業務，繼續貫徹公司的長期既定策略和發展方向。我們仍以藝術家發掘、IP運營、消費者觸達、潮流玩具文化的推廣及創新業務孵化為主要業務重點。藝術家發掘和IP運營IP運營和創作設計對於我們的產品至關重要，這也是推動泡泡瑪特發展的核心驅動力。我們不斷豐富IP類型、輸出風格多樣化的產品，以滿足不同用戶群體的需求。2022 年上半年，我們頭部IP 持續推出新品，新系列的表現保 持 強勁，S K U

18、 L L PA N D A、Molly和Dimoo在2022年上半年分別實現收入人民幣461.8百萬元、人民幣404.3百萬元和人民幣298.4百萬元，同比分別增長了152.3%、98.3%和45.6%；2022年1月份推出的SKULLPANDA第五個系列夜之城，截至2022年6月30日單系列銷售收入達到人民幣179.1百萬元。由我們內部的設計師團隊PDC(Pop Design Center)推出的小甜豆，2022年上半年實現收入人民幣81.2百萬元同比增長了27.5%，2021年新IP小野推出首個系列The Other One通過獨特的設計風格，深受粉絲的喜愛，該系列在2022年上半年貢獻了

19、收入人民幣34.9百萬元。BUSINESS REVIEWIn the first half of 2022,many major regions and cities were subjected to travelling restrictions because of the recurring epidemic which resulted in short-term influences on the economy of such locations.Despite the dramatic impact on the consumer industry caused by the

20、epidemic,our revenue amounted to RMB2,358.8 million,representing a year-on-year increase of 33.1%,while our non-IFRS adjusted net profit amounted to RMB376.3 million.During the period,we strategically focused on the further development of our pop toy business to consistently implement our long-term

21、established strategy and development direction.We remained to regard artists development,IP operation,consumer access,pop toy culture promotion and innovative business incubation as our major business focus.Artists Development and IP OperationIP operation as well as creation and design are essential

22、 to our products,which are the key drivers for the development of Pop Mart.We continuously enrich our types of IP and launch products of diversified styles to meet the demands of different customers.In the first half of 2022,our top IPs continued to launch new products,and the performance of new ser

23、ies remained strong.In the first half of 2022,revenue generated from SKULLPANDA,Molly and Dimoo amounted to RMB461.8 million,RMB404.3 million and RMB298.4 million,respectively,representing a year-on-year increase of 152.3%,98.3%and 45.6%,respectively.As of 30 June 2022,revenue from City of Night,the

24、 fifth series of SKULLPANDA launched in January 2022,amounted to RMB179.1 million.Revenue generated from Sweet Bean series,launched by our in-house design team PDC(Pop Design Center),amounted to RMB81.2 million in the first half of 2022,representing a year-on-year increase of 27.5%.In 2021,our new I

25、P Hirono launched its first series The Other One,which was much loved by the fans because of its unique design style.This series contributed a revenue of RMB34.9 million in the first half of 2022.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 8MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析作為我們推動 潮玩藝術

26、化 而打造的高端產品線，MEGA珍藏系列 承載高品質和兼具時尚感與寓意深度的內容表達。2022年上半年，在品牌聯合方面，我們攜手Moncler、可口可樂推出重磅聯名款；在藝術家合作方面，我們聯合韓美林、大久保、PHILIP COLBERT，將多元的藝術風格以潮玩的形式重新表達。於此同時，我們也為JUST DIMOO和 SKULLPANDA推出了MEGA珍藏系列的產品，不斷創新與深度合作持續探索高端潮玩的可能性。2022年上半年，MEGA珍藏系列共實現收入人民幣193.4百萬元，超過去年全年產生的收入。消費者觸達 線下渠道為應對疫情的不確定性，我們放緩了新增線下門店及機器人商店的開店計劃，202

27、2年上半年我們於中國大陸新開23家線下門店，門店數量從2021年12月31日的288家增至2022年6月30日的308家1。2022上半年我們於中國大陸新開業55家機器人商店，機器人商店數量從2021年12月31日的1,861家增至2022年6月30日的1,916家。線上渠道泡泡瑪特抽盒機為我們在微信平台上自主研發設計的小程序，旨在於創造好玩、有趣的購物體驗，於2022年上半年實現了人民幣543.5百萬元的收入，同比增長了67.2%。天貓旗艦店2022年上半年收入為人民幣244.9百萬元，同比增長了11.8%，京東旗艦店2022年上半年收入為人民幣70.2百萬元，同比增長了50.0%。1 20

28、22年上半年，因租約到期和其他商業原因，我們關閉了3家門店。As a high-end production line created because of our promotion of“pop toy as art”,the“MEGA Collection Series”represents high-quality and is characterized by both fashion and a deep sense of moral.In terms of brand crossover,in the first half of 2022,we joined with Moncl

29、er and Coca-Cola to launch heavyweight co-brand models;in terms of artist collaboration,we collaborated with Han Meilin,Hiroto Ohkubo and PHILIP COLBERT to re-present their diverse art style in the form of pop toys.Meanwhile,we launched MEGA Collection products for JUST DIMOO and SKULLPANDA,with an

30、innovative and in-depth collaboration and the continuous exploration of high-end pop toy.In the first half of 2022,the revenue of the“MEGA Collection Series”amounted to RMB193.4 million,which exceeded the revenue generated throughout last year.Consumer Access Offline channelsIn response to the uncer

31、tainty of the epidemic,we slowed down our store opening plan for new physical stores and roboshops.In the first half of 2022,we opened 23 new physical stores in Mainland China.The number of physical stores increased from 288 as of 31 December 2021 to 3081 as of 30 June 2022.In the first half of 2022

32、,we opened 55 roboshops in Mainland China.The number of roboshops increased from 1,861 as of 31 December 2021 to 1,916 as of 30 June 2022.Online channelsPop Draw is a mini program independently invented and developed by us on WeChat platform,aiming to create fun and interesting shopping experience.I

33、n the first half of 2022,revenue amounted to RMB543.5 million,representing a year-on-year increase of 67.2%.In the first half of 2022,the revenue of Tmall Flagship stores amounted to RMB244.9 million,representing a year-on-year increase of 11.8%,and in the same period,the revenue of JD.com Flagship

34、stores amounted to RMB70.2 million,representing a year-on-year increase of 50.0%.1 In the first half of 2022,due to lease expiration and other commercial reasons,we closed 3 stores.二零二二年中報 INTERIM REPORT 20229MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 會員運營通過渠道的持續擴張及IP的不斷豐富，並通過全渠道會員運營，用戶數字化規模快速擴大，截至2

35、022年6月30日，累計註冊會員總數從2021年12月31日的1,958.0萬人增至2,305.9萬人，新增註冊會員347.9萬人。2022年上半年會員貢獻銷售額佔比93.1%，會員複購率為47.9%2。港澳台地區及海外渠道2022年上半年，我們港澳台地區及海外業務從以To B為主轉型為以DTC(Direct To Customer)為主導的模式。截至2022年6月30日，我們的港澳台地區及海外門店數達到24家（含加盟），我們的港澳台地區及海外機器人商店達到98台（含加盟），跨境電商平台站點數達到11個。我們在今年上半年分別在在英國、新西蘭、美國開了第一家線下門店。隨着渠道的增加，泡泡瑪特品牌

36、和產品被廣大海外消費者所青睞。2 2022年上半年，購買會員中買過2次及以上的佔比。Member operationBy continuous channel expansion and IPs portfolio enhancement,through omni-channel member operation,the scale of user digitalization grew rapidly.As of 30 June 2022,the total number of registered members increased from 19.580 million as at 31

37、 December 2021 to 23.059 million.In particular,there were 3.479 million new registered members.During the first half of 2022,the sales contributed by our members represents 93.1%of total sales,with repeat purchase rate of our member of 47.9%2.Hong Kong,Macao,Taiwan and overseas channelsIn the first

38、half of 2022,we changed Hong Kong,Macao,Taiwan and oversea business from To B-oriented model to DTC(Direct To Customer)model.As at 30 June 2022,the number of our stores in Hong Kong,Macao,Taiwan and overseas cities amounted to 24(including franchise)and the number of roboshops amounted to 98(includi

39、ng franchise),respectively,with overseas e-commerce platforms reaching 11.We established our first offline physical store in the United Kingdom,New Zealand,and the United States in the first half of this year.The brand and products of Pop Mart are favored by overseas consumers as the channels increa

40、sed.2 The proportion of members who made purchase for twice or more during the first half of 2022.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 10MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析潮流玩具文化推廣及創新業務孵化2022年，泡泡瑪特成立共鳴工作室，定位集團旗下無邊界硬核衍生品品牌，並推出首個產品巴斯光年合金可動人偶。2022年上半年，泡泡瑪特旗下藝術推廣機構Inner Flow為簽約藝術家沒影舉

41、辦了首場個人展覽。2022年4月，Inner Flow上線官方小程序，推出版畫、雕塑等藝術衍生品。目前，Inner Flow已簽約近20位青年當代藝術家。2022年4月，泡泡瑪特舉辦了首屆潮玩設計大賽(POP TOY AWARD,PTA2022)。這是我們舉辦的首屆面向整個行業的設計大賽，旨在通過評選來激勵富有創造力的藝術家群體，支持在創業發展期的新銳設計師，為新生藝術家打造展示原創作品的平台。泡泡瑪特在今年加速推進品牌全球化的進程，推動潮玩文化在海外的傳播。2022年2月，泡泡瑪特在迪拜世博會開啟 潮玩之旅 活動，現場展示MOLLY、DIMOO等多個IP系列潮玩，吸引了來自世界各地的參觀者。

42、2022年3月，泡泡瑪特在新加坡舉辦BUNNY主題商場展，向海外消費者展示中國原創潮玩IP的魅力。泡泡瑪特持續向粉絲傳播潮流玩具文化，今年上半年推出了第 6 期、第 7 期會員內刊PLAYGROUND，推出了30期播客節目，邀請藝術家、設計師及行業人士參與，幫助粉絲更好地了解潮玩文化。Pop Toy Culture Promotion and Innovative Business IncubationIn 2022,Pop Mart established a“GONG Studio”,where boundless hard-core derivative brands under the

43、 Group are designed,and the studio launched the first product which was a movable alloyed action figure,Buzz Lightyear.In the first half of 2022,an art promotion organization Inner Flow under Pop Mart organized the first individual exhibition for contracted artist MEIYING.In April 2022,Inner Flow la

44、unched an official online app,which includes artistic derivatives such as prints and sculptures.Currently,Inner Flow have signed almost existing 20 young artists.In April 2022,the first POP TOY AWARD,PTA2022 was held,which was the first industry-wide design competition,aiming to select to inspire cr

45、eative artists and support up-and-coming designers in the entrepreneurial development period,and create a platform for new artists to display their original works.This year,Pop Mart speeds up the promotion of brand globalization by boosting the broadcast of pop toy culture overseas.In February 2022,

46、Pop Mart organized“The Journey of Art Toys”in Expo Dubai.The exhibition showcased many pop toys of different IP series such as MOLLY and DIMOO and attracted visitors around the world.In March 2022,Pop Mart held a mall exhibition that themed BUNNY in Singapore to show overseas consumers the attractiv

47、eness of Chinas original IP of pop toys.Pop Mart continued to promote the pop toy culture to its fans and published the sixth and seventh issues of our internal magazine“PLAYGROUND”for members in the first half of 2022.We launched 30 episodes of podcasts,inviting artists,designers and industry parti

48、cipants to help its fans better understand the pop toy culture.二零二二年中報 INTERIM REPORT 202211MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析財務回顧銷售收入本公司收入從2021年上半年的人民幣1,772.6百萬元上升到2022年上半年的人民幣2,358.8百萬元，同比增長33.1%。根據渠道劃分的收入本公司的收入來自於中國大陸地區和港澳台地區及海外的：1.線下渠道；2.線上渠道；及3.批發渠道及其他。下表載列本公司2022年上半年及2021年上半年的按渠道劃分的收入：

49、FINANCIAL REVIEWSales RevenueRevenue of the Company increased from RMB1,772.6 million for the first half of 2021 to RMB2,358.8 million for the first half of 2022,representing a year-on-year increase of 33.1%.Revenue by channelsRevenue of the Company is generated in Mainland China and Hong Kong,Macao

50、,Taiwan and overseas regions through:1.offline channels;2.online channels;and 3.wholesales channels and others.The following table sets out the Companys revenue by channels for the first half of 2022 and the first half of 2021:For the six months ended 30 June 2022For the six months ended 30 June 202

51、1截至2022年6月30日止六個月截至2021年6月30日止六個月RevenueGross profit marginProportion of revenueRevenueGross profit marginProportion of revenue收入毛利率收入佔比收入毛利率收入佔比RMB000RMB000人民幣千元人民幣千元 Mainland China中國大陸地區Offline Channels線下渠道1,095,65860.6%46.4%899,52964.8%50.7%Online Channels線上渠道977,93359.2%41.5%666,29067.3%37.6%Who

52、lesales and others批發及其他128,53729.8%5.5%146,87940.3%8.3%Total合計2,202,12858.2%93.4%1,712,69863.6%96.6%Hong Kong,Macao,Taiwan and overseas regions港澳台地區及海外Offline Channels線下渠道38,65768.9%1.6%3,31861.9%0.2%Online Channels線上渠道34,82974.3%1.5%11,99165.8%0.7%Wholesales and others批發及其他83,20444.2%3.5%44,57039.2

53、%2.5%Total合計156,69057.0%6.6%59,87945.8%3.4%Grand total總計2,358,81858.1%100.0%1,772,57763.0%100.0%POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 12MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析(1)中國大陸地區線下渠道。線下收入由2021年上半年的人民幣899.5百萬元上升到2022年上半年的人民幣1,095.7百萬元，增長了21.8%。下表為按渠道及城市等級劃分的線下收入明細：(1)Mainland Chi

54、naOffline channels.Revenue from offline sales increased by 21.8%from RMB899.5 million for the first half of 2021 to RMB1,095.7 million for the first half of 2022.The table below sets forth a breakdown of revenue from offline sales by channel and the city tier:For the six months ended 30 June 2022For

55、 the six months ended 30 June 2021截至2022年6月30日止六個月截至2021年6月30日止六個月RevenueProportion of revenuefrom offline channels in Mainland ChinaRevenueProportion of revenuefrom offline channels in Mainland ChinaChange收入中國大陸地區線下渠道收入佔比收入中國大陸地區線下渠道收入佔比變動RMB000RMB000人民幣千元人民幣千元 Retail stores零售店891,70181.4%672,76074

56、.8%32.5%Roboshops機器人商店203,95718.6%226,76925.2%-10.1%Total合計1,095,658100.0%899,529100.0%21.8%二零二二年中報 INTERIM REPORT 202213MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析Retail StoresRoboshops零售店機器人商店For the six months ended 30 JuneFor the six months ended 30 June截至6月30日止六個月截至6月30日止六個月202220222年

57、2021年2022年2021年City tierNumber of storesRevenueNumber of storesRevenueNumber of storesRevenueNumber of storesRevenue城市等級數量收入數量收入數量收入數量收入RMB000RMB000RMB000RMB000人民幣千元人民幣千元人民幣千元人民幣千元 First-tier cities3一線城市3117340,75591323,83154751,11847372,389New first-tier cities4新一線城市489270,86064197,93060364,3494837

58、4,093Second-tier and other cities5二線及其他城市5102280,08660150,99976688,49052180,287 Total合計308891,701215672,7601,916203,9571,477226,769 Retail stores.Revenue from retail store sales increased by 32.5%year on year from RMB672.8 million for the first half of 2021 to RMB891.7 million for the first half of

59、2022,primarily due to the followings:(1)the number of retail stores increased to 308 in Mainland China as of 30 June 2022,which had increased by 93 as of 30 June 2021;(2)a total of 133 retail stores shut down for one week to three months given the pandemic outbreaks in numerous locations in the firs

60、t half of 2022,causing significant impact on the retail store sales.3 Refers to the first-tier cities in Mainland China,including Beijing,Shanghai,Guangzhou and Shenzhen4 Refers to the new first-tier cities in Mainland China,including Chengdu,Chongqing,Hangzhou,Wuhan,Xian,Zhengzhou,Qingdao,Changsha,

61、Tianjin,Suzhou,Nanjing,Dongguan,Shenyang,Hefei and Foshan5 Refers to the cities other than first-tier cities and new first-tier cities in Mainland China 3 指中國大陸一線城市，包括北京、上海、廣州和深圳4 指中國大陸新一線城市，包括成都、重慶、杭州、武漢、西安、鄭州、青島、長沙、天津、蘇州、南京、東莞、瀋陽、合肥和佛山5 指中國大陸除去一線城市和新一線城市以為的城市 零售店。零售店銷售收入從2021年上半年的人民幣672.8百萬元增加到202

62、2年上半年的人民幣891.7百萬元，同比增長了32.5%。主要由於(1)截至2022年6月30日中國大陸零售店增至308家，自2021年6月30日起增加了93家；(2)2022年上半年多地出現疫情，零售店閉店時間在一周至三個月的店舖數量達到133家，對零售店銷售產生較大影響。POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 14MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 機器人商店。機器人商店銷售收入從2021年上半年的人民幣226.8百萬元下降到2022年上半年的人民幣204.0百萬元，同比下降10.

63、1%，主要由於(1)截至2022年6月30日合計機器人商店1,916間，自2021年6月30日起增加了439間，鑑於機器人的 雷達 作用，我們會在銷售額較高的機器人所在商場開設機器人商店，機器人商店的銷售會受到分流、稀釋導致部分機器的銷售業績下降；(2)2022年上半年多地出現疫情，機器人閉店時間在一周至三個月的數量達到324間，對機器人商店的銷售產生較大影響。線上渠道。線上收入由2021年上半年的人民幣666.3百萬元增加到2022年上半年的人民幣977.9百萬元，增長了46.8%。以下為線上收入明細：Roboshops.Revenue from roboshop sales decreas

64、ed by 10.1%year on year from RMB226.8 million for the first half of 2021 to RMB204.0 million for the first half of 2022,primarily due to the followings:(1)as of 30 June 2022,there were a total of 1,916 roboshops,which had increased by 439 as of 30 June 2021.Given the“Radar”function of the robots,we

65、chose to open roboshops in the shopping malls where the robots achieve higher sales,which split and diluted the sales of roboshops,thus resulting in a decrease in the sales of some robots;(2)a total of 324 roboshops shut down for one week to three months given the pandemic outbreaks in numerous loca

66、tions in the first half of 2022,causing significant impact on the roboshop sales.Online channels.Revenue from online sales increased by 46.8%from RMB666.3 million for the first half of 2021 to RMB977.9 million for the first half of 2022.The table below sets forth a breakdown of revenue from online s

67、ales:For the six months ended30 June 2022For the six months ended30 June 2021截至2022年6月30日止六個月截至2021年6月30日止六個月RevenueProportion of revenuefrom online channels in Mainland ChinaRevenueProportion of revenuefrom online channels in Mainland ChinaChange收入中國大陸地區線上渠道收入佔比收入中國大陸地區線上渠道收入佔比變動RMB000RMB000人民幣千元人民

68、幣千元 Pop Draw泡泡瑪特抽盒機543,51655.6%325,02348.8%67.2%Tmall flagship store天貓旗艦店244,88225.0%219,00032.9%11.8%JD.com flagship store京東旗艦店70,1987.2%46,8047.0%50.0%Other online channels其他線上渠道119,33712.2%75,46311.3%58.1%Total合計977,933100.0%666,290100.0%46.8%二零二二年中報 INTERIM REPORT 202215MANAGEMENT DISCUSSION AND

69、 ANALYSIS管理層討論與分析中國大陸地區線上收入包括泡泡瑪特抽盒機、天貓旗艦店、京東旗艦店以及其他線上渠道。其中，泡泡瑪特抽盒機從2021年上半年的人民幣325.0百萬元增長至2022年上半年的人民幣543.5百萬元，增長了67.2%；天貓旗艦店收入從2021年上半年的人民幣219.0百萬元增長至2022年上半年的人民幣244.9百萬元，增長了11.8%；京東旗艦店收入從2021年上半年的人民幣46.8百萬元增長至2022年上半年的人民幣70.2百萬元，增長了50.0%。2022年上半年線上渠道的收入增長主要源於品牌影響力、會員人數的增加；儘管疫情對我們的線上渠道造成了相對較大的影響，但

70、會員數量有所增加。批發及其他。批發及其他收入從2021年上半年的人民幣146.9百萬元下降到2022年上半年的128.5百萬元，下降了12.5%，主要由於經銷商南京泡泡瑪特受疫情影響，店舖銷售下降，因此向北京泡泡瑪特文化創意有限公司採購減少。Online revenue sources in Mainland China include Pop Draw,Tmall flagship store,JD.com flagship store and other online channels.In particular,revenue from Pop Draw increased by 67.

71、2%from RMB325.0 million for the first half of 2021 to RMB543.5 million for the first half of 2022;revenue from Tmall flagship store increased by 11.8%from RMB219.0 million for the first half of 2021 to RMB244.9 million for the first half of 2022;revenue from JD.com flagship store increased by 50.0%f

72、rom RMB46.8 million for the first half of 2021 to RMB70.2 million for the first half of 2022.The increase in revenue from online channels for the first half of 2022 was primarily due to the stronger brand influence and the increased number of members,despite the relatively significant impact on our

73、online channels due to the pandemic.Wholesales and others.Revenue from wholesales and others decreased by 12.5%from RMB146.9 million for the first half of 2021 to RMB128.5 million for the first half of 2022,primarily due to effects of the pandemic on our distributor,Nanjing Pop Mart,whose procuremen

74、t from Beijing Pop Mart Culture&Creative Co.,Ltd.reduced due to the decreased store sales.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 16MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析(2)港澳台地區及海外線下渠道。線下收入由2021年上半年的人民幣3.3百萬元上升到2022年上半年的人民幣38.7百萬元，增長了1,065.1%。以下為線下收入明細：(2)Hong Kong,Macao,Taiwan and ov

75、erseas regionsOffline channels.Revenue from offline sales increased by 1,065.1%from RMB3.3 million for the first half of 2021 to RMB38.7 million for the first half of 2022.The table below sets forth a breakdown of revenue from offline sales:For the six months ended 30 June 2022For the six months end

76、ed 30 June 2021截至2022年6月30日止六個月截至2021年6月30日止六個月RevenueProportion of revenuefrom offlinechannels inHong Kong,Macao,Taiwanand overseasregionsRevenueProportion of revenuefrom offline channels inHong Kong,Macao,Taiwanand overseasregionsChange收入港澳台地區及海外線下渠道收入佔比收入港澳台地區及海外線下渠道收入佔比變動RMB000RMB000人民幣千元人民幣千元 R

77、etail stores零售店34,79490.0%2,52676.1%1,277.4%Roboshops機器人商店3,86310.0%79223.9%387.8%Total合計38,657100.0%3,318100.0%1,065.1%Retail stores.Revenue from retail store sales increased by 1,277.4%year on year from RMB2.5 million for the first half of 2021 to RMB34.8 million for the first half of 2022,primari

78、ly due to the increase in the number of retail stores,continuous expansion of channels in other regions outside the Mainland China and opening of retail stores in more countries and regions.As of 30 June 2022,there were a total of 11 retail stores,which had increased by 9 from 30 June 2021.零售店。零售店銷售

79、收入從2021年上半年的人民幣2.5百萬元增加到2022年上半年的人民幣34.8百萬元，同比增長了1,277.4%。主要由於零售店數量的增加，不斷擴張中國大陸外地區渠道，在更多國家及地區開設零售店，截至2022年6月30日合計零售店11家，自2021年6月30日起增加了9家零售店。二零二二年中報 INTERIM REPORT 202217MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 機器人商店。機器人商店銷售收入從2021年上半年的人民幣0.8百萬元增加到2022年上半年的人民幣3.9百萬元，同比增長了387.8%，主要由於機器人商店數量的增加。截至20

80、22年6月30日合計零售店20間，自2021年6月30日起零售店數量增加了13間；在更多國家及地區鋪設機器人商店。線上渠道。線上收入由2021年上半年的人民幣12.0百萬元增加到2022年上半年的人民幣34.8百萬元，增長了190.5%。以下為線上收入明細：Roboshops.Revenue from roboshop sales increased by 387.8%year on year from RMB0.8 million for the first half of 2021 to RMB3.9 million for the first half of 2022,primarily

81、 due to an increase in the number of roboshops.As of 30 June 2022,there were a total of 20 roboshops,which had increased by 13 as compared to 30 June 2021;while continuously opening roboshops in more countries and regions.Online channels.Revenue from online sales increased by 190.5%from RMB12.0 mill

82、ion for the first half of 2021 to RMB34.8 million for the first half of 2022.The table below sets forth a breakdown of revenue from online sales:For the six months ended 30 June 2022For the six months ended 30 June 2021截至2022年6月30日止六個月截至2021年6月30日止六個月RevenueProportion of revenuefrom online channels

83、in Hong Kong,Macao,Taiwan and overseas regionsRevenueProportion of revenuefrom online channels in Hong Kong,Macao,Taiwan and overseas regionsChange收入港澳台地區及海外線上渠道佔比收入港澳台地區及海外線上渠道佔比變動RMB000RMB000人民幣千元人民幣千元 Pop Mart official website泡泡瑪特官方網站16,05346.1%5,51646.0%191.0%Amazon亞馬遜9,29526.7%7796.5%1,093.2%Ot

84、her online channels其他線上渠道9,48127.2%5,69647.5%66.5%Total合計34,829100.0%11,991100.0%190.5%POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 18MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析港澳台地區及海外線上收入包括泡泡瑪特官方網站、亞馬遜和其他線上渠道。泡泡瑪特官方網站收入從2021年上半年的人民幣5.5百萬元增長到2022年上半年的人民幣16.1百萬元，增長了191.0%；亞馬遜收入從2021年上半年的人民幣0.8百萬

85、元增長1,093.2%到2022年上半年的人民幣9.3百萬元，主要由於快速推進跨境電商平台站點的建設，優化渠道結構；通過媒體宣傳和社區運營深耕品牌形象，改善服務及物流流程，提升消費者互動和購物體驗。批發及其他。港澳台地區及海外批發及其他收入從2021年上半年的人民幣44.6百萬元增長至2022年上半年的人民幣83.2百萬元，增長了86.7%。主要為中國港澳台地區及海外業務的不斷拓展，同時泡泡瑪特的品牌和商品被更多消費者認知和接受。Online revenue sources in Hong Kong,Macao,Taiwan and overseas regions include Pop M

86、art official website,Amazon,and other online channels.Revenue from Pop Mart official website increased by 191.0%from RMB5.5 million for the first half of 2021 to RMB16.1 million for the first half of 2022.Revenue from Amazon increased by 1,093.2%from RMB0.8 million for the first half of 2021 to RMB9

87、.3 million for the first half of 2022,primarily due to the following reasons:we sped up efforts to advance the building of cross-border e-commerce platform sites,improve channel structure,and we strived to build brand image through media advertising and community operation,and improve service and lo

88、gistics process,thus enhancing customers interaction and shopping experience.Wholesales and others.Revenue from wholesales and others in Hong Kong,Macao,Taiwan and overseas regions increased by 86.7%from RMB44.6 million for the first half of 2021 to RMB83.2 million for the first half of 2022,primari

89、ly due to the continuous expansion of our business in Hong Kong,Macao,Taiwan and overseas regions,while the brand and products of Pop Mart are recognized and accepted by more consumers.二零二二年中報 INTERIM REPORT 202219MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析根據IP劃分的收入泡泡瑪特的自主產品是我們的主要商品類型，2022年上半年自主產品收入佔

90、總收入的比例為91.4%，自主產品收入從2021年上半年的人民幣1,582.4百萬元增加到2022年上半年的人民幣2,155.7百萬元，增長了36.2%。泡泡瑪特的自主產品主要分為：自有IP、獨家IP和非獨家IP，以下為IP劃分的收入明細：Revenue by IPsPop Mart proprietary products are our major product type.In the first half of 2022,revenue from proprietary products contributed 91.4%of our total revenue.Revenue fro

91、m proprietary products increased by 36.2%from RMB1,582.4 million for the first half of 2021 to RMB2,155.7 million for the first half of 2022.Proprietary products of Pop Mart are mainly divided into:proprietary IPs,exclusive licensed IPs and non-exclusive licensed IPs,and below sets forth a breakdown

92、 of revenue by IPs:For the six months ended 30 June 2022For the six months ended 30 June 2021截至2022年6月30日止六個月截至2021年6月30日止六個月RevenueProportion of revenueRevenueProportion of revenue收入收入佔比收入收入佔比RMB000RMB000人民幣千元人民幣千元 Proprietary products自主產品2,155,65291.4%1,582,39189.3%Proprietary IPs自有IP1,528,22664.8

93、%900,40950.9%SKULLPANDA SKULLPANDA461,76619.6%183,04210.3%Molly Molly404,34717.1%203,90011.5%Dimoo Dimoo298,44212.7%204,99311.6%Sweet Bean 小甜豆81,2473.4%63,7193.6%Bunny Bunny43,4981.8%101,9135.8%HIRONO HIRONO37,5381.6%Other proprietary IPs 其他自有IP201,3888.6%142,8428.1%Exclusive licensed IPs獨家IP326,798

94、13.9%394,31622.2%The Monsters The Monsters134,8875.7%145,7898.2%PUCKY PUCKY63,6652.7%107,0976.1%Other exclusive licensed IPs 其他獨家IP128,2465.5%141,4307.9%Non-exclusive licensed IPs非獨家IP300,62812.7%287,66616.2%External procurement and consignment外採及代銷203,1668.6%190,18610.7%Total合計2,358,818100.0%1,772,

95、577100.0%POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 20MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 自有IP。自有IP是本公司主要商品類型，主要包括Molly、SKULLPANDA、Dimoo、小甜豆等。自有IP的收入佔比由2021年上半年的50.9%增加到2022年上半年的64.8%，收入貢獻大幅增加。自有IP收入從2021年上半年的人民幣900.4百萬元，上升至2022年上半年的人民幣1,528.2百萬元，增長了69.7%。主要由於SKULLPANDA、Molly、和Dimoo的銷售

96、收入貢獻較高，以及MEGA產品的收入貢獻。獨家IP。獨家IP收入從2021年上半年的人民幣394.3百萬元，下降至2022年上半年的人民幣326.8百萬元，下降了17.1%。主要由於The Monsters、PUCKY在2022年上半年因為排期原因發售新系列減少。非獨家IP。非獨家IP收入從2021年上半年的人民幣287.7百萬元，上升至2022年上半年的人民幣300.6百萬元，增長了4.5%，主要由於2022年上半年新系列產品的銷售。銷售成本銷售成本從2021年上半年的人民幣655.5百萬元上升到2022年上半年的人民幣988.4百萬元，增長了50.8%，增加主要由於商品成本由2021年上半

97、年的人民幣518.9百萬元增加到2022年上半年的人民幣868.0百萬元，其主要原因為銷售增加，及商品成本單價增加。Proprietary IPs.Proprietary IPs are the major product type of the Company,primarily including Molly,SKULLPANDA,Dimoo and Sweet Bean.The proportion of revenue from proprietary IPs increased from 50.9%for the first half of 2021 to 64.8%for the

98、first half of 2022,representing a significant increase in revenue contribution.Revenue from proprietary IPs increased by 69.7%from RMB900.4 million for the first half of 2021 to RMB1,528.2 million for the first half of 2022,primarily due to the increased revenue contribution from sales of SKULLPANDA

99、,Molly,and Dimoo and revenue contribution from sales of MEGA products.Exclusive licensed IPs.Revenue from exclusive licensed IPs decreased by 17.1%from RMB394.3 million for the first half of 2021 to RMB326.8 million for the first half of 2022,primarily due to the decrease in the sales of new series

100、of The Monsters and PUCKY in the first half of 2022 arising from scheduling.Non-exclusive licensed IPs.Revenue from non-exclusive licensed IPs increased by 4.5%from RMB287.7 million for the first half of 2021 to RMB300.6 million for the first half of 2022,primarily due to the sales of new series pro

101、ducts in the first half of 2022.Costs of SalesOur costs of sales increased by 50.8%from RMB655.5 million for the first half of 2021 to RMB988.4 million for the first half of 2022.The increase was primarily due to the increase in costs of goods from RMB518.9 million for the first half of 2021 to RMB8

102、68.0 million for the first half of 2022,which was mainly due to the increase in sales and the increase in unit cost of goods.二零二二年中報 INTERIM REPORT 202221MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析毛利本公司的毛利由2021年上半年的人民幣1,117.1百萬元上升到2022年上半年的人民幣1,370.4百萬元，增長了22.7%，主要由於我們的收入增加。我們的毛利率由2021年上半年的63.0%下降至20

103、22年上半年的58.1%，主要由於我們泡泡瑪特自主產品的毛利率下降。我們泡泡瑪特自主產品產生的毛利由2021年上半年的人民幣1,058.2百萬元增加到2022年上半年的人民幣1,303.4百萬元，增長了23.2%。主要由於泡泡瑪特自主產品的收益增加。泡泡瑪特自主產品的毛利率從2021年上半年的66.9%，下降到2022年上半年的60.5%，主要由於(1)隨著產品工藝的愈發複雜，原材料價格上漲，OEM廠每道工序加工成本上升；(2)由於疫情導致我們在2022年上半年做了一些促銷活動。我們的外採和其他產品產生的毛利由2021年上半年的人民幣58.9百萬元增加到2022年上半年的人民幣67.0百萬元，

104、增長了13.8%。外採和其他產品的毛利率從2021年上半年的31.0%增加到2022年上半年的33.0%，主要由於產品結構優化，產品採購成本略有上升。經銷及銷售開支我們的經銷及銷售開支由2021年上半年的人民幣419.8百萬元增長至2022年上半年的人民幣693.2百萬元，增長了65.1%。其中佔比較高的為(1)僱員福利開支；及(2)廣告及市場費用。Gross ProfitThe Companys gross profit increased by 22.7%from RMB1,117.1 million for the first half of 2021 to RMB1,370.4 mil

105、lion for the first half of 2022,primarily due to the increase in revenue.Our gross profit margin dropped from 63.0%for the first half of 2021 to 58.1%for the first half of 2022,primarily due to the decline in gross profit margin of our Pop Mart proprietary products.Gross profit from our Pop Mart pro

106、prietary products increased by 23.2%from RMB1,058.2 million for the first half of 2021 to RMB1,303.4 million for the first half of 2022,primarily due to the increase in revenue from Pop Mart proprietary products.Gross profit margin of Pop Mart proprietary products dropped from 66.9%for the first hal

107、f of 2021 to 60.5%for the first half of 2022,primarily due to the fact that(1)the raw material prices and processing costs per process in OEM factories increased as a result of the increasing complexity of our products;(2)we conducted some promotional activities in the first half of 2022 due to the

108、pandemic.Gross profit generated from external procurement and other products increased by 13.8%from RMB58.9 million for the first half of 2021 to RMB67.0 million for the first half of 2022.Gross profit margin of external procurement and other products increased from 31.0%for the first half of 2021 t

109、o 33.0%for the first half of 2022,primarily due to the slight increase in cost of product procurement as a result of the optimization of product structure.Distribution and Selling ExpensesOur distribution and selling expenses increased by 65.1%from RMB419.8 million for the first half of 2021 to RMB6

110、93.2 million for the first half of 2022.Among which,(1)employee benefit expenses;and(2)advertising and marketing expenses accounted for higher proportions.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 22MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 僱員福利開支。僱員福利開支從2021年上半年的人民幣108.6百萬元增長至2022年上半年的人民幣1

111、96.0百萬元，增長了80.5%。主要由於(1)我們的銷售員工人數由2021年上半年的1,909名員工增加到2022年上半年的2,374名員工，主要用以支持我們擴張零售店及機器人商店網絡；及(2)股權激勵的股份支付金額共計人民幣13.2百萬元。廣告及市場費用。廣告及市場費用從2021年上半年的人民幣56.8百萬元增長至2022年上半年的人民幣114.1百萬元，增長了100.9%。主要由於線上線下渠道的宣傳推廣的增加，比如：微信抽盒機和天貓的平台推廣，MEGA產品等視頻推廣，IP主題展等對泡泡瑪特品牌宣傳。一般及行政開支我們的一般及行政開支由2021年上半年的人民幣239.7百萬元增長至2022

112、年上半年的人民幣322.7百萬元，增長了34.6%。其中佔比較高的為(1)僱員福利開支；及(2)使用權資產折舊。僱員福利開支。僱員福利開支從2021年上半年的人民幣170.0百萬元增長至2022年上半年的人民幣206.2百萬元，增長了21.4%。主要由於(1)我們的行政員工及設計開發人員人數由2021年上半年的1,211名員工增加至2022年上半年的1,506名員工，主要用以支持我們的產品開發以及業務擴張，及薪資水平提升以吸引人才；及(2)股權激勵的股份支付金額共計人民幣30.1百萬元。使用權資產折舊。使用權資產折舊從2021年上半年的人民幣13.8百萬元增長到2022年上半年的人民幣24.7

113、百萬元，增長了78.9%，主要由於辦公室的擴租以滿足辦公需求。Employee benefit expenses.Employee benefit expenses increased by 80.5%from RMB108.6 million for the first half of 2021 to RMB196.0 million for the first half of 2022,mainly due to(1)the increase in the number of sales personnel from 1,909 for the first half of 2021 to

114、2,374 for the first half of 2022,mainly for supporting the expansion of our retail stores and roboshop network;and(2)share-based payment for share incentive scheme of RMB13.2 million in aggregate.Advertising and marketing expenses.Advertising and marketing expenses increased by 100.9%from RMB56.8 mi

115、llion for the first half of 2021 to RMB114.1 million for the first half of 2022,mainly due to the increase in the promotion of online and offline channels.For example,we promote Pop Mart brand through the platform promotion of WeChat box extractor and Tmall,the promotion of MEGA products,other video

116、s and the IP theme exhibition and so forth.General and Administrative ExpensesOur general and administrative expenses increased by 34.6%from RMB239.7 million for the first half of 2021 to RMB322.7 million for the first half of 2022.Among which,(1)employee benefit expenses;and(2)depreciation of right

117、-of-use assets accounted for higher proportions.Employee benefit expenses.Employee benefit expenses increased by 21.4%from RMB170.0 million for the first half of 2021 to RMB206.2 million for the first half of 2022,mainly due to(1)the increase in number of our administrative and design development pe

118、rsonnel from 1,211 for the first half of 2021 to 1,506 for the first half of 2022,mainly for supporting our product development and business expansion,as well as the rise in remuneration level for attracting talents;and(2)share-based payment for share incentive scheme of RMB30.1 million in aggregate

119、.Depreciation of right-of-use assets.Depreciation of right-of-use assets increased from RMB13.8 million for the first half of 2021 to RMB24.7 million for the first half of 2022,representing an increase of 78.9%which is mainly due to the expansion of office leasing to meet office demand.二零二二年中報 INTER

120、IM REPORT 202223MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析其他收入本公司的其他收入由2021年上半年的人民幣25.4百萬元降低到2022年上半年的人民幣24.3百萬元，減少了4.3%。其中(1)來自於優衣庫、歐萊雅等品牌合作項目的IP授權收入由2021年上半年的人民幣17.8百萬元增加到2022年上半年的人民幣18.9百萬元，及(2)政府補助由2021年上半年的人民幣6.7百萬元降低至2022年上半年的人民幣4.8百萬元。其他收益淨額2021年上半年錄得其他收益淨額人民幣6.9百萬元，2022年上半年錄得其他收益淨額人民幣67.1百萬元

121、，主要由於2022年上半年股權投資和基金投資的公允價值變動導致。經營溢利綜上所述，本公司的經營溢利由2021年上半年的人民幣486.7百萬元降低至2022年上半年的人民幣446.1百萬元，減少了8.3%。財務收入淨額我們的財務收入淨額由2021年上半年的淨收益人民幣5.7百萬元增長到2022年上半年的淨收益的人民幣7.0百萬元，主要由於我們的利息收入增加。所得稅開支我們的所得稅開支由2021年上半年的人民幣137.8百萬元降低到2022年上半年的人民幣125.0百萬元，原因為我們的所得稅前溢利減少。我們的實際稅率由2021年上半年的27.7%降低至2022年上半年的27.3%。Other In

122、comeOther income of the Company decreased by 4.3%from RMB25.4 million for the first half of 2021 to RMB24.3 million for the first half of 2022.Among which,(1)IP licensing income from brand cooperation projects such as Uniqlo and LOral increased from RMB17.8 million for the first half of 2021 to RMB1

123、8.9 million for the first half of 2022,and(2)government grants decreased from RMB6.7 million for the first half of 2021 to RMB4.8 million for the first half of 2022.Other Gains NetWe recorded other gains,net of RMB6.9 million for the first half of 2021,and other gains,net of RMB67.1 million for the

124、first half of 2022,primarily due to the fair value changes of equity investments and fund investments for the first half of 2022.Operating ProfitIn light of the above,the Companys operating profit decreased by 8.3%from RMB486.7 million for the first half of 2021 to RMB446.1 million for the first hal

125、f of 2022.Finance Income NetOur finance income,net,increased from net gains of RMB5.7 million for the first half of 2021 to net gains of RMB7.0 million for the first half of 2022,primarily due to the increase in our interest income.Income Tax ExpenseOur income tax expense decreased from RMB137.8 mil

126、lion for the first half of 2021 to RMB125.0 million for the first half of 2022 as a result of the decrease in profit before income tax.Our effective tax rate declined from 27.7%for the first half of 2021 to 27.3%for the first half of 2022.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 24MANAGEMEN

127、T DISCUSSION AND ANALYSIS管理層討論與分析期內盈利由於上文所述，我們的期內盈利由2021年上半年的人民幣358.8百萬元降低至報告期間的人民幣332.9百萬元，減少約7.2。茲提述本公司日期為2022年7月15日的盈利警告公告（盈利警告公告），其中本公司估計本集團於報告期內的溢利較去年同期將錄得減少不高於35%。本公司謹此澄清，期內溢利實際減少百分比約為7.2%，儘管在該範圍內，但仍低於盈利警告公告所指的預期百分比水平。董事會謹此強調，盈利警告公告所載資料乃基於董事會對本集團於報告期內未經審核管理賬目之初步審閱及截至盈利警告公告日期董事會可得之最新資料。實際溢利與估計溢

128、利之間的差額主要是由於本公司某基金投資的公允價值發生重大變動，金額約為人民幣58.8百萬元，而董事會僅在盈利警告公告日期之後才獲知該等情況。有關更多詳情，請參閱上文 其他收益淨額分節。非國際財務報告準則經調整純利非國際財務報告準則經調整純利未按照國際財務報告準則計算，視為非國際財務報告準則的財務指標，其定義為除以股份為基礎的薪酬後純利，而非國際財務報告準則經調整純利率的定義為非國際財務報告準則經調整純利除以收益。我們認為，這些信息對於投資者在不影響本集團經營業績或現金流的情況下比較本集團的業績是有用的，並允許投資者考慮管理層在評估本集團業績時使用的指標。投資者不應認為非國際財務報告準則的財務指

129、標替代或由於本集團的國際財務報告準則的業績。此外，可能不是所有公司會以相同的方式計算該項非國際財務報告主責的財務指標，因此未必可與其他公司採用的相若計量比較。Profit for the PeriodAs a result of the above,our profit for the period decreased from RMB358.8 million for the first half of 2021 to RMB332.9 million for the Reporting Period,representing a decrease of approximately 7.2%

130、.Reference is made to the profit warning announcement of the Company dated 15 July 2022(the“Profit Warning Announcement”),in which the Company estimated the Groups profit for the Reporting Period will decrease by no more than 35%as compared with that for the corresponding period last year.The Compan

131、y would like to clarify that the actual percentage of decrease in profit for the period is approximately 7.2%,which,though within the range,is less than the expected percentage level as indicated in the Profit Warning Announcement.The Board would like to emphasize that the information contained in t

132、he Profit Warning Announcement was based on the preliminary review by the Board on the unaudited management accounts of the Group for the Reporting Period and the latest information available to the Board up to the date of the Profit Warning Announcement.The discrepancy between the actual profit and

133、 the estimated profit is mainly attributable to a significant fair value changes of certain fund investment of the Company,in the amount of approximately RMB58.8 million,which became available to the Board after the date of the Profit Warning Announcement.For more details,please refer to the sub-sec

134、tion headed“Other gainsnet”above.Non-IFRS Adjusted Net ProfitThe non-IFRS adjusted net profit has not been calculated in accordance with the IFRS,thus it is deemed as non-IFRS financial indicator.The non-IFRS adjusted net profit refers to the net profit after excluding share-based payment,while the

135、non-IFRS adjusted net profit margin refers to the non-IFRS adjusted net profit divided by revenue.We are of the view that such information is useful for investors to compare the results of the Group,provided that the results of operation or cash flows of the Group are not being affected,and enables

136、investors to take into consideration of the indicators used by the management when assessing the results of the Group.Investors shall not treat non-IFRS financial indicator as an alternative or better version of the results of the Group prepared in accordance with IFRS.In addition,not all companies

137、will adopt the same way in calculating such non-IFRS financial indicators.Hence,similar measurements made by other companies may not be comparable.二零二二年中報 INTERIM REPORT 202225MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析以股份為基礎的付款開支屬於非現金項目且並無直接反應我們的業務營運。因此，通過撇除該等項目對計算非國際財務報告準則經調整純利影響的舉措，可更好地反應我們的相關經營表現

138、，並更加便於比較逐年的經營表現。流動資產、財務資源及資本開支截至2022年6月30日止六個月，本公司及附屬公司在整體業務經營方面採納保守穩健的資金管理及財務政策。本集團維持以下資源以應付其營運資金需求：流動資產及流動負債我們的流動資產淨值由截至2021年12月31日的人民幣5,664.6百萬元增加至截至2022年6月30日的人民幣5,815.8百萬元，基本維持穩定。下表載列本公司各期間的非國際財務報告準則的財務指標對賬情況。The following table sets out the reconciliation of non-IFRS financial indicators of th

139、e Company for the respective periods.For the sixmonths ended30 June 2022For the sixmonths ended30 June 2021截至2022年6月30日止六個月截至2021年6月30日止六個月RMB000RMB000人民幣千元人民幣千元 Profit for the period期內盈利332,945358,798Adjustments調整項目Share-based payment以股份為基礎的付款報酬43,34076,391 Non-IFRS adjusted net profit非國際財務報告準則經調整純

140、利376,285435,189 Non-IFRS adjusted net profit margin非國際財務報告準則經調整純利率16.0%24.6%Share-based payment expenses are non-cash items,which do not directly reflect our business operation.Hence,through eliminating the effects of such items on calculation of non-IFRS adjusted net profit,relevant operating perfo

141、rmance can be better reflected,and it would be more convenient to compare operating performance in different years.Current Assets,Financial Resources and Capital ExpendituresFor the six months ended 30 June 2022,the Company and its subsidiaries adopted conservative and stable fund management and fin

142、ancial policies in their overall business operations.The Group maintained the following resources to meet its working capital requirements:Current assets and current liabilitiesOur net current assets increased from RMB5,664.6 million as of 31 December 2021 to RMB5,815.8 million as of 30 June 2022,wh

143、ich was basically stable.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 26MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析貿易應收款項貿易應收款項指日常業務過程中我們應收客戶的未結算款項。我們的貿易應收款項由截至2021年12月31日的人民幣171.3百萬元減少至截至2022年6月30日的人民幣132.4百萬元，該等減少主要由於關聯方經銷商南京泡泡瑪特的付款減少。貿易應收款項周轉天數從2021年的10天增加至截至2022年6月30日止六個月的12天。存貨我們的存貨包括製成品。我們

144、的存貨由截至2021年12月31日的人民幣788.8百萬元增加至截至2022年6月30日的人民幣957.4百萬元。主要由於我們增加了我們的產品庫存，以滿足不斷增長的產品需求；及2022年上半年疫情影響銷售未達預期，存貨餘額增加。存貨周轉天數從2021年的128天增加到截至2022年6月30日止六個月的160天。現金及現金等價物我們的現金及現金等價物主要包括銀行現金。現金及現金等價物從截至2021年12月31日的人民幣5,264.7百萬元下降至截至2022年6月30日的人民幣1,075.4百萬元，主要為我們購買一年期的定期存款。貿易應付款項貿易應付款項主要指我們在日常業務過程中向供應商支付貨款的

145、責任。貿易應付款項從截至2021年12月31日的人民幣266.1百萬元增加至截至2022年6月30日的人民幣308.5百萬元，主要原因為我們的業務增長，導致採購量增加，進而令應付供應商款項的餘額有所增加。貿易應付款項周轉天數從2021年的40天增加至截至2022年6月30日止六個月的60天。銀行借款截至2022年6月30日，本集團並無任何銀行借款。Trade receivablesTrade receivables represent outstanding amounts receivable by us from our customers in the ordinary course o

146、f business.Our trade receivables decreased from RMB171.3 million as of 31 December 2021 to RMB132.4 million as of 30 June 2022.The decrease was primarily due to the decrease in payments from Nanjing Pop Mart,our related party distributor.Trade receivables turnover days increased from 10 days in 2021

147、 to 12 days for the six months ended 30 June 2022.InventoriesOur inventories comprise finished goods.Our inventories increased from RMB788.8 million as of 31 December 2021 to RMB957.4 million as of 30 June 2022.The increase was primarily due to the increase in product inventories to meet the increas

148、ing product demands and the increase in our balance of inventories as a result of our sales falling short of our expectations due to the impact of the pandemic in the first half of 2022.Inventory turnover days increased from 128 days in 2021 to 160 days for the six months ended 30 June 2022.Cash and

149、 cash equivalentsOur cash and cash equivalents primarily comprise cash at bank.Cash and cash equivalents decreased from RMB5,264.7 million as of 31 December 2021 to RMB1,075.4 million as of 30 June 2022,primarily due to our purchase of time deposits with one-year term.Trade payablesTrade payables pr

150、imarily represent our obligation to pay for merchandise from suppliers in the ordinary course of business.Trade payables increased from RMB266.1 million as of 31 December 2021 to RMB308.5 million as of 30 June 2022,primarily due to the increase in procurement amount as a result of our business growt

151、h,which in turns resulted in the increase in balance of payables to suppliers.Trade payable turnover days increased from 40 days in 2021 to 60 days for the six months ended 30 June 2022,Bank borrowingsThe Group did not have any bank borrowings as of 30 June 2022.二零二二年中報 INTERIM REPORT 202227MANAGEME

152、NT DISCUSSION AND ANALYSIS管理層討論與分析資產抵押截至2022年6月30日，本集團並無任何資產抵押。資產負債率資產負債率為總負債除以總資產乘以100%。截至2022年6月30日，本集團的資產負債率為17.2%，而截至2021年12月31日的資產負債率為18.1%。或有事件我們目前並無涉及任何重大法律訴訟，亦不知悉我們涉及任何待決或潛在重大法律訴訟。倘我們涉及有關重大法律訴訟，則我們會於產生虧損且有關虧損金額有合理估計時，按當時所得資料記錄任何虧損或或有負債。於2020年8月28日，我們收到日期為2020年8月19日的法院傳票，內容有關金鷹國際商貿集團（中國）有限公司（

153、作為股東）代表南京金鷹泡泡瑪特商貿有限公司在江蘇省南京市中級人民法院向北京泡泡瑪特文化創意有限公司提起的申索。於2021年6月17日及2022年6月10日，上述案件分別進行了兩次庭審，主要程序為收集及核證金鷹國際及本集團提供的進一步資料。直至本中期簡明綜合財務資料批准日期，上述案件仍在審理當中。根據中國法律顧問告知，金鷹國際提起的申索並無依據，申索判決金鷹國際勝訴的可能性極低，本公司面臨的來自該申索的風險微乎其微，且該申索將不會對我們的運營及財務表現產生重大不利影響，故概無就該申索於綜合財務報表確認撥備。外匯風險管理我們主要於中國經營業務，交易主要以人民幣結算。由於本集團並無以我們經營實體各自

154、功能貨幣以外貨幣計值得重大金融資產或負債，故管理層認為業務並無任何重大外匯風險敞口。於截至2022年6月30日止六個月期間，我們並無對沖任何外幣波動。Pledge of AssetsThe Group did not have any pledged assets as of 30 June 2022.Gearing RatioThe gearing ratio is calculated by dividing total liabilities by total assets and then multiplying by 100%.As at 30 June 2022,the geari

155、ng ratio of the Group was 17.2%as compared with the gearing ratio of 18.1%as at 31 December 2021.ContingencyWe are not currently involved in any material legal proceedings,nor are we aware of any pending or potential material legal proceedings involving us.If we are involved in such material legal p

156、roceedings,we would record any loss or contingent liabilities when,based on information then available,it is likely that a loss has been incurred and the amount of the loss can be reasonably estimated.On 28 August 2020,we received a court summons dated 19 August 2020 in relation to a claim brought b

157、y Golden Eagle International Retail Group(China)Co.,Ltd.(金鷹國際商貿集團(中國)有限公司)as a shareholder on behalf of Nanjing Golden Eagle Pop Mart Trading Co.,Ltd.at the Jiangsu Nanjing Intermediate Peoples Court(江蘇省南京市中級人民法院)against Beijing Pop Mart Culture&Creative Co.,Ltd.On 17 June 2021 and 10 June 2022,two

158、hearings of the above case were held respectively,and the major proceedings were the collection and verification of further information provided by Golden Eagle International and the Group.Up to the date of approval of this interim condensed consolidated financial information,the above case is still

159、 in process.As advised by our PRC legal adviser,the claim brought by Golden Eagle International is groundless,and the likelihood that the claim will be decided in favor of Golden Eagle International is very low.The risk exposure of the Company from the claim is minimal and the claim will not have a

160、material adverse impact on our operations and financial performance.Hence,no provision in relation to this claim has been recognized in the consolidated financial statements.Foreign Exchange Risk ManagementWe operate mainly in the PRC with most of the transactions settled in RMB.Our management consi

161、ders that the business is not exposed to any significant foreign exchange risk as there are no significant financial assets or liabilities of our Group denominated in currencies other than the respective functional currencies of our operating entities.For the six months ended 30 June 2022,we did not

162、 hedge against any fluctuation in foreign currency.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 28MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析資本開支本公司的資本開支包括購置物業、廠房及設備的款項和購置無形資產的款項。下表載列本公司2021年上半年以及2022年上半年的資本開支情況：Capital ExpendituresThe Companys capital expenditures consist of purchases of proper

163、ty,plant and equipment and purchases of intangible assets.The table below sets out the Companys capital expenditures for the first half of 2021 and the first half of 2022:For the sixmonths ended30 June 2022For the sixmonths ended30 June 2021截至2022年6月30日止六個月截至2021年6月30日止六個月RMB000RMB000人民幣千元人民幣千元 Purc

164、hases of property,plant and equipment購置物業、廠房和設備135,860114,350Purchase of intangible assets購置無形資產26,25312,460 Total合計162,113126,810 Human ResourcesAs of 30 June 2022,we had a total of 3,880 employees,including 2,374 sales personnel and 1,506 administrative and development personnel.For the six months

165、 ended 30 June 2022,we incurred staff costs(including remuneration,payrolls,allowances and benefits)of RMB402.2 million in total.The remuneration payable by the Company to its employees includes salaries,bonuses and employee benefit plans contributions.The salaries of our employees are generally det

166、ermined by the employees respective position,qualification,experience and performance.The bonuses are calculated based on our employees respective position,duration of services and performance.In order to attract and retain our employees,we assess the remuneration package offered to our employees on

167、 an annual basis to determine whether any adjustment to the bonus should be made.人力資源截至2022年6月30日，我們共有3,880名員工，包括銷售員工2,374名，行政及開發人員1,506名。截至2022年6月30日，我們共發生員工成本（包括薪金、工資、津貼和福利）人民幣402.2百萬元。本公司應付僱員酬金包括薪金、花紅及僱員福利計劃供款。僱員薪金通常按僱員各自的職位、資歷、經驗及表現釐定。獎金乃按僱員各自的職位、服務年期及僱員表現計算。為吸引並挽留僱員，我們每年評估提供予僱員的薪酬方案，以確定是否應對獎金作出

168、任何調整。二零二二年中報 INTERIM REPORT 202229MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析根據中國法律法規的要求，我們參與各項政府法定僱員福利計劃，包括社會保險基金（即養老金供款計劃、醫療保險計劃、失業保險計劃、工傷保險計劃及生育保險計劃）及住房公積金。我們為所有僱員提供培訓計劃，以實現員工與企業共同發展。我們將為所有新員工提供豐富的入職培訓課程，以使其快速融入公司，其後根據部門需要、本公司的發展戰略、及員工訴求進行多種在職培訓，增強僱員與我們業務相關的知識、技能及能力。重大投資的未來計劃截至2022年6月30日，我們並無持有任何重

169、大投資。我們將繼續廣泛尋找潛在的策略性投資機會，並尋求可為本集團帶來協同效應的潛在優質目標業務及資產。重大收購及出售截至2022年6月30日止六個月，我們並無進行任何重大收購或出售附屬公司、聯營公司及合營企業。報告期間後事項於本中期報告日期，本集團於報告期後並無發生須進一步披露或調整的重大事項。As required by PRC laws and regulations,we participate in various government statutory employee benefit plans,including social insurance funds(namely a

170、pension contribution plan,a medical insurance plan,an unemployment insurance plan,a work-related injury insurance plan and a maternity insurance plan)and a housing provident fund.We provide training programs for all employees to achieve common development between employees and the Company.We will pr

171、ovide all new employees with a wealth of induction training courses so that they can quickly integrate into the Company,and subsequently,we will provide the employees with various on-the-job training according to the needs of the departments,the Companys development strategy,and the demands of the e

172、mployees,so as to enhance their knowledge,skills and capabilities in relation to our business.Future Plans on Significant InvestmentsAs of 30 June 2022,we did not hold any significant investment.We will continue to seek for potential strategic investment opportunities,as well as potential quality ta

173、rget operations and assets that can create synergy effect to the Group.Material Acquisitions and DisposalsFor six months ended 30 June 2022,we had not conducted any material acquisition or disposal of subsidiaries,associates and joint ventures.SUBSEQUENT EVENT AFTER REPORTING PERIODAs at the date of

174、 this interim report,the Group has no significant events occurred after the Reporting Period which require additional disclosures or adjustments.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 30MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析未來展望IP是我們業務的核心，我們通過創意的產品、精緻的設計和優質的服務使消費者收獲快樂美好、潮流體驗和藝術熏陶，同時，通

175、過提升品牌價值，增加用戶對泡泡瑪特的品牌忠誠度，保持我們強勢的市場地位及競爭力。我們將致力豐富IP類型，擴大IP庫，保持高質量的設計創新水準，推出更多頭部系列產品，對IP進行持續運營，強化IP心智，加深粉絲與IP之間的情感連接。以及拓寬除更多潮玩品類，進一步發掘MEGA、衍生品、BJD等品類的發開及完善相關工藝及生產發售流程。我們海外業務將全面提速，通過加速推進海外DTC戰略，佈局線下門店、機器人商店、跨境電商平台等渠道，推動我們品牌在全球的滲透，提高我們在海外國家、地區的知名度和潮玩市場份額。實現當地業務本地化是海外業務的核心，在加強終端消費者的消費體驗和互動的同時，與更多當地的合作夥伴和藝

176、術家，探索出更多符合當地市場的業務模式、IP和商品品類。我們將致力擴展我們的渠道網絡，從而觸達更多的用戶，不斷精進我們的運營能力，提升用戶的消費體驗，加強會員拓展和會員運營能力，推動創新零售數字化運作，以更多樣化的方式觸達和維護用戶，提供定制化的、更好的服務。我們將通過更豐富多樣的途徑持續推廣潮流玩具文化，持續影響整個行業，為會員提供更多權益，提高粉絲黏性，提升粉絲的文化認同和品牌認知。OUTLOOKIP is at the core of our business.Through our innovative products,delicate design and quality serv

177、ices,we aim to offer consumers with joyful pop culture and artistic experience.At the same time,by increasing our brand value,we will enhance the brand loyalty of users on Pop Mart products,thereby maintaining our strong market position and competitiveness.We will strive to enrich our IPs types,expa

178、nd our IPs base,maintain high-quality design and innovation standards,introduce more products under the head series,operate IPs continuously,strengthen IPs mentality,and deepen the emotional connection between fans and IPs.In addition,we will increase types of pop toys,further explore the developmen

179、t of box products such as MEGA,side products and BJD,and improve relevant technologies and production and sales procedures.Our overseas business will be promoted in an all-round way by accelerating the overseas DTC strategy,deploying physical stores,roboshops,overseas e-commerce platforms and other

180、channels to promote the global penetration of our brand and increase our brand awareness and market share in pop toy market in overseas countries and regions.Localization of operation is the core of our overseas operations.While enhancing the shopping experience and interaction of end consumers,we w

181、ill also cooperate with more local partners and artists to explore more business models,IPs and product types that meet the needs of local market.We will strive to expand our channel network so as to reach more users.In addition,we will continue to strengthen our operating capability,improve user sh

182、opping experience,enhance member expansion and member operation capability,promote innovative retail digitalized operation,reach and retain users through diversified measures,and offer customized,better services.We will continue to promote pop toy culture through more diversified means,influence the

183、 whole industry continuously,offer more benefits for our privilege members,increase the stickiness of fans,as well as enhance the cultural identity and brand awareness of fans.二零二二年中報 INTERIM REPORT 202231MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析上市所得款項淨額用途本公司股份於2020年12月11日通過全球發售在香港聯合交易所有限公司（聯交所）主板上

184、市，經扣除專業費用、包銷佣金及其他相關上市開支後，本公司自全球發售（包括悉數行使超額配股權）所收取所得款項淨額總額（所得款項淨額）約為5,781.7百萬港元。誠如本公司日期為2020年12月1日的招股章程（招股章程）所述，所得款項淨額的擬定用途及所得款項淨額餘額載列如下：USE OF NET PROCEEDS FROM LISTINGThe shares of the Company were listed on the Main Board of the Stock Exchange of Hong Kong Limited(the“Stock Exchange”)on 11 Decembe

185、r 2020 by way of global offering,and the total net proceeds(the“Net Proceeds”)received by the Company from the global offering(including the full exercise of the over-allotment option)amounted to approximately HK$5,781.7 million after deducting professional fees,underwriting commissions and other re

186、lated listing expenses.As stated in the prospectus of the Company dated 1 December 2020(the“Prospectus”),the intended uses and the balance of the Net Proceeds are set out below:Intended use of Net ProceedsAllocation of Net ProceedsPercentage of total Net proceedsAmount of Net Proceeds utilized up to

187、31 December 2021Amount of Net Proceeds utilized up to 30 June 2022Balance of Net Proceeds unutilized as at 30 June 2022Intended timetable for use of the unutilized Net Proceeds所得款項淨額擬定用途所得款項淨額的分配佔總所得款項淨額百分比直至2021年12月31日已動用的所得款項淨額金額直至2022年6月30日已動用的所得款項淨額金額於2022年6月30日的未動用所得款項淨額餘額動用未動用所得款項淨額的擬定時間表 (i)T

188、o finance part of our expansion plans of consumer access channels and overseas marketsHK$1,734.5 million1,734.5百萬港元30.0%HK$735.8 million735.8百萬港元HK$1,094.4 million1,094.4百萬港元HK$640.1 million640.1百萬港元Before 31 December 2024用於為我們的消費者觸達渠道及海外市場擴展計劃撥付部分資金2024年12月31日之前(a)for opening new retail storesHK$95

189、4.0 million16.5%HK$603.4 millionHK$897.5 millionHK$56.5 million用於開設新零售店954.0百萬港元603.4百萬港元897.5百萬港元56.5百萬港元(b)for opening new roboshopsHK$346.9 million6.0%HK$98.7 millionHK$140.6 millionHK$206.3 million用於開設新機器人商店346.9百萬港元98.7百萬港元140.6百萬港元206.3百萬港元(c)for expanding our business into overseas marketsHK$

190、433.6 million7.5%HK$33.7 millionHK$56.3 millionHK$377.3 million用於擴展業務至海外市場433.6百萬港元33.7百萬港元56.3百萬港元377.3百萬港元(ii)To fund our potential investments in,acquisitions of and strategic alliance with companies along the value chain of our industryHK$1,561.1 million1,561.1百萬港元27.0%HK$262.0 million262.0百萬港元H

191、K$311.8 million311.8百萬港元HK$1,249.3 million1,249.3百萬港元Before 31 December 20242024年12月31日之前用於為潛在投資、收購本行業價值鏈上下游公司及與該等公司建立戰略聯盟撥資POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 32MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析Intended use of Net ProceedsAllocation of Net ProceedsPercentage of total Net proc

192、eedsAmount of Net Proceeds utilized up to31 December 2021Amount of Net Proceeds utilized up to 30 June 2022Balance of Net Proceeds unutilized as at 30 June 2022Intended timetable for use of the unutilized Net Proceeds所得款項淨額擬定用途所得款項淨額的分配佔總所得款項淨額百分比直至2021年12月31日已動用的所得款項淨額金額直至2022年6月30日已動用的所得款項淨額金額於202

193、2年6月30日的未動用所得款項淨額餘額動用未動用所得款項淨額的擬定時間表 (iii)To invest in technology initiatives to strengthen our marketing and fan engagement efforts,and to enhance the digitalization of our businessHK$867.2 million867.2百萬港元15.0%HK$139.8 million139.8百萬港元HK$226.5 million226.5百萬港元 HK$640.7 million640.7百萬港元用於投資技術舉措，以增強

194、我們的營銷及粉絲參與力度及提升業務的數字化程度(a)for talent recruitment 用於人才招募HK$173.5 million173.5百萬港元3.0%HK$19.5 million19.5百萬港元HK$41.0 million41.0百萬HK$132.5 million132.5百萬港元Before 31 December 20232023年12月31日之前(b)for acquiring relevant software and hardware to enhance digitalization and establish information systems for

195、 digital marketing,customer services,logistics,products,supply chain,warehousing,membership,transactions and store management and marketingHK$346.9 million346.9百萬港元6.0%HK$28.3 million28.3百萬港元HK$49.2 million49.2百萬港元HK$297.7 million297.7百萬港元Before 31 December 20242024年12月31日之前用於購買相關軟件及硬件以加強數字化，並建立用於數字

196、營銷、客戶服務、物流、產品、供應鏈、倉儲，會員、交易以及門店管理及營銷的信息系統(c)for optimizing our online marketing efforts,which primarily consist of strategically placed advertisement,icons,links and news feeds on third party promotional platformsHK$346.8 million346.8百萬港元6.0%HK$92.0 million92.0百萬港元HK$136.3 million136.3百萬港元HK$210.5 mi

197、llion210.5百萬港元Before 31 December 20242024年12月31日之前用於優化我們的線上營銷工作，主要包括戰略性地在第三方推廣平台上投放廣告、圖標、鏈接及信息推送二零二二年中報 INTERIM REPORT 202233MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析Intended use of Net ProceedsAllocation of Net ProceedsPercentage of total Net proceedsAmount of Net Proceeds utilized up to31 Decembe

198、r 2021Amount of Net Proceeds utilized up to 30 June 2022Balance of Net Proceeds unutilized as at 30 June 2022Intended timetable for use of the unutilized Net Proceeds所得款項淨額擬定用途所得款項淨額的分配佔總所得款項淨額百分比直至2021年12月31日已動用的所得款項淨額金額直至2022年6月30日已動用的所得款項淨額金額於2022年6月30日的未動用所得款項淨額餘額動用未動用所得款項淨額的擬定時間表 (iv)To expand

199、our IP pool用於擴大我們的IP庫HK$1,040.7 million1,040.7百萬港元18.0%HK$68.3 million68.3百萬港元HK$177.2 millionHK$863.5 million177.2百萬港元863.5百萬港元(a)for enhancing our ability to identify outstanding artists 用於加強我們物色優秀藝術家的能力HK$260.3 million260.3百萬港元4.5%HK$38.3 million38.3百萬港元HK$97.4 million97.4百萬港元HK$162.9 million162.

200、9百萬港元Before 31 December 20242024年12月31日之前(b)for recruiting talented designers to join our in-house design team to enhance our in-house original IP development capability by providing competitive salary 用於以提供具有競爭力的薪金的方式招募有才華的設計師加入我們的內部設計團隊，以增強我們的內部原創IP發掘實力HK$86.6 million86.6百萬港元1.5%HK$30.0 million30.

201、0百萬港元HK$79.8 million79.8百萬港元HK$6.8 million6.8百萬港元Before 31 December 20232023年12月31日之前(c)for acquisitions of popular IPs from to expand our IP pool 用於收購受歡迎的IP以擴大我們的IP庫HK$693.8 million693.8百萬港元12.0%HK$693.8 million693.8百萬港元Before 31 December 20242024年12月31日之前(v)Working capital and general corporate pu

202、rposes營運資金及一般公司用途HK$578.2 million578.2百萬港元10.0%HK$578.2 million578.2百萬港元HK$578.2 million578.2百萬港元Before 31 December 20232023年12月31日之前The Group will utilise the Net Proceeds of the initial public offering in accordance with the intended purposes as set out in the Prospectus.本集團將遵照招股章程所載擬定目的動用首次公開發售所得

203、款項淨額。POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 34OTHER INFORMATION其他資料中期股息董事會不建議派付截至2022年6月30日止六個月的中期股息。遵守企業管治守則本公司董事（董事）會（董事會）致力維持高水平的企業管治標準。董事會相信，高企業管治標準對於本公司提供框架以保障股東權益、提升企業價值及問責性方面發揮關鍵作用。本公司已採納香港聯合交易所有限公司證券上市規則（上市規則）附錄十四所載的企業管治守則（企業管治守則），作為其本身的企業管治守則。本公司於截至2022年6月30日止六個月期間內一直遵守企業管治守則項下的所

204、有適用守則條文，惟下文 主席及行政總裁 一段所述偏離守則條文第C.2.1條除外。主席及行政總裁企業管治守則的守則條文第C.2.1條規定主席與行政總裁的職責應有所區分，不應由同一人士履行。根據董事會現行架構，本公司主席及行政總裁職位由王寧先生擔任。董事會相信，這種架構將不會削弱董事會與本公司管理層之間的權力及權限平衡，原因是：(i)董事會所作決定至少需要由大多數董事批准，而董事會九名董事當中有三名獨立非執行董事，董事會認為董事會內部有足夠的制衡作用；(ii)王寧先生及其他董事知悉並承諾履行彼等作為董事的受信責任，當中要求（其中包括）彼等為本公司的利益及最佳利益行事，並據此作出本集團決策；及(ii

205、i)權力及權限平衡乃以董事會運作加以保障，而董事會由經驗豐富、高質素人士組成，彼等定期會面討論影響本集團運作的事宜。此外，本集團的整體戰略及其他主要業務、財務及營運政策乃經董事會及高級管理層層面全面商討後共同作出。最後，由於王寧先生為我們的主要創辦人，董事會認為由同一人士擔任主席及行政總裁可確保本集團的領導貫徹一致，令本集團實現更為有效及高效的整體戰略規劃。董事會將繼續檢討本集團企業管治架構的有效性，以評估是否需要區分主席與行政總裁的職責。INTERIM DIVIDENDThe Board did not recommend the payment of an interim dividend

206、 for the six months ended 30 June 2022.C O M P L I A N C E W I T H T H E C O R P O R A T E GOVERNANCE CODEThe board(the“Board”)of directors(the“Directors”)of the Company is committed to maintaining high corporate governance standards.The Board believes that high corporate governance standards are es

207、sential in providing a framework for the Company to safeguard the interests of Shareholders and to enhance corporate value and accountability.The Company has adopted the Corporate Governance Code(the“CG Code”)as set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exc

208、hange of Honk Kong Limited(the“Listing Rules”)as its own code of corporate governance.The Company has complied with all applicable code provisions of the CG Code during the six months ended 30 June 2022,except for deviation from code provision C.2.1 as explained under the paragraph headed“Chairman a

209、nd Chief Executive Officer”below.Chairman and Chief Executive OfficerCode provision C.2.1 of the CG Code stipulates that the roles of chairman and chief executive should be segregated and should not be performed by the same individual.According to the current structure of the Board,the positions of

210、the Chairman and Chief Executive Officer of the Company are held by Mr.Wang Ning.The Board believes that this structure will not impair the balance of power and authority between the Board and the management of the Company,given that:(i)decision to be made by the Board requires approval by at least

211、a majority of the Directors and that the Board comprises three independent non-executive Directors out of nine Directors,and the Board believes there is sufficient check and balance on the Board;(ii)Mr.Wang Ning and the other Directors are aware of and undertake to fulfil their fiduciary duties as D

212、irectors,which require,among other things,that they act for the benefit and in the best interests of the Company and will make decisions of the Group accordingly;and(iii)the balance of power and authority is ensured by the operations of the Board which comprises experienced and high caliber individu

213、als who meet regularly to discuss issues affecting the operations of the Group.Moreover,the overall strategic and other key business,financial and operational policies of the Group are made collectively after thorough discussion at both the Board and senior management levels.Finally,as Mr.Wang Ning

214、is our principal founder,the Board believes that vesting the roles of both chairman and chief executive officer in the same person has the benefit of ensuring consistent leadership within the Group and enables more effective and efficient overall strategic planning for the Group.The Board will conti

215、nue to review the effectiveness of the corporate governance structure of the Group in order to assess whether separation of the roles of chairman and chief executive officer is necessary.二零二二年中報 INTERIM REPORT 202235OTHER INFORMATION其他資料本公司致力提升適用於其經營行為及業務增長的企業管治常規，並不時審閱該等常規，以保證彼等符合法定及專業標準且與最新發展保持一致。

216、進行證券交易的標準守則本公司採納上市規則附錄十所載上市發行人董事進行證券交易的標準守則（標準守則），作為本公司涉及董事證券交易的行為守則。經向全體董事作出具體查詢後，各董事已確認於截至2022年6月30日止六個月一直遵守標準守則所載的規定。可能擁有本公司未公佈內幕消息的本公司僱員亦須遵守標準守則。董事及高級管理層之資料變更除本中期報告披露者外，並無根據上市規則第13.51B(1)條須予披露之董事及高級管理層資料之變動。董事及行政總裁於股份、相關股份及債權證的權益及淡倉於2022年6月30日，本公司董事及行政總裁於本公司或其任何相聯法團（定義見 證券及期貨條例 第XV部（香港法例第571章）（證

217、券及期貨條例）的股份、相關股份及債權證中擁有根據證券及期貨條例 第XV部第7及第8分部已知會本公司及聯交所（包括根據 證券及期貨條例的有關條文彼等被當作或視為擁有的權益及淡倉），或根據 證券及期貨條例 第352條須予存置的登記冊所記錄或根據標準守則已另行知會本公司及聯交所的權益及淡倉如下：The Company is committed to enhancing its corporate governance practices appropriate to the conduct and the growth of its business and to reviewing such pr

218、actices from time to time to ensure that they comply with statutory and professional standards and align with the latest development.MODEL CODE FOR SECURITIES TRANSACTIONSThe Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers(the“Model Code”)as set out in A

219、ppendix 10 to the Listing Rules as its own code of conduct regarding directors securities transactions.Having made specific enquiries of all Directors,each of the Directors has confirmed that he/she has complied with the required standards as set out in the Model Code during the six months ended 30

220、June 2022.The Companys employees,who are likely to be in possession of unpublished inside information of the Company,are also subject to the Model Code.CHANGE IN DIRECTORS AND THE SENIOR MANAGEMENTS INFORMATIONSave as disclosed in this interim report,there is no change in the information of the Dire

221、ctors and the senior management required to be disclosed pursuant to Rule 13.51B(1)of the Listing Rules.DIRECTORS AND CHIEF EXECUTIVES INTERESTS AND SHORT POSITIONS IN SHARES,UNDERLYING SHARES AND DEBENTURESAs at 30 June 2022,the interests and short positions of the Directors and chief executives of

222、 the Company in the Shares,underlying Shares and debentures of the Company or any of its associated corporations(within the meaning of Part XV of the Securities and Futures Ordinance(Chapter 571 of the Laws of Hong Kong)(“SFO”)which had been notified to the Company and the Stock Exchange pursuant to

223、 Divisions 7 and 8 of Part XV of the SFO(including interests and short positions which they were taken or deemed to have taken under such provisions of the SFO),or which were recorded in the register required to be kept pursuant to section 352 of the SFO or as otherwise notified to the Company and t

224、he Stock Exchange pursuant to the Model Code were as follows:POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 36OTHER INFORMATION其他資料於本公司股份及相關股份的權益附註：(1)於 2 0 2 2 年 6 月 3 0 日，本 公 司 合 共 已 發 行1,397,572,150股股份。字母 L 代表有關人士於股份的好倉。(2)GWF Holding Limited為一家於英屬維京群島註冊成立的有限公司，由UBS Trustees(B.V.I.)Ltd.全資擁有，而U

225、BS Trustees(B.V.I.)Ltd.以王寧先生作為委託人（以王寧先生為受益人）所創立信託的受託人身份全資擁有。根據 證券及期貨條例，王寧先生被視為於GWF Holding Limited所持本公司571,981,960股股份中擁有權益。Tianjin Paqu Holding Limited為一家根據英屬維京群島法律註冊成立的有限公司，而王寧先生為唯一股東。根據 證券及期貨條例，王寧先生因而被視為於Tianjin Paqu Holding Limited所持本公司30,082,220股股份中擁有權益。(3)Pop Mart Hehuo Holding Limited為一家根據英屬維京

226、群島法律註冊成立的有限公司，並於本公司持有72,903,027股股份。王寧先生及楊濤女士分別持有Pop Mart Hehuo Holding Limited已發行股本的41.99%及17.81%。王寧先生及楊濤女士因其配偶關係被視為於彼此持有之股份中擁有權益，因此彼等被視為於Pop Mart Hehuo Holding Limited所持股份中擁有權益。(4)楊濤女士為王寧先生的配偶。根據 證券及期貨條例，楊濤女士被視為於王寧先生持有的所有股份中擁有權益。Interests in Shares and underlying Shares of the CompanyName of Direct

227、or董事姓名Capacity/Nature of interest身份權益性質Total number of Shares/underlying Shares held(1)所持股份相關股份總數(1)Approximate percentage of shareholding interest in the Company(%)(1)佔本公司股權概約百分比(%)(1)Mr.Wang Ning王寧先生Beneficiary and founder of a trust;and Interest of controlled corporation(2)(3)信託的受益人及創辦人；及受控法團權益(2

228、)(3)674,967,207(L)48.30%Ms.Yang Tao楊濤女士Interest of spouse(3)(4)配偶權益(3)(4)674,967,207(L)48.30%Mr.Si De司德先生Founder of a discretionary trust(5)酌情信託創辦人(5)10,933,075(L)0.78%Mr.Tu Zheng屠錚先生Interest of controlled corporation(6)受控法團權益(6)32,910,000(L)2.35%Mr.He Yu何愚先生Interest of controlled corporation(7)受控法團

229、權益(7)2,088,310(L)0.15%Notes:(1)As at 30 June 2022,the Company had issued 1,397,572,150 Shares in total.The letter“L”denotes the persons long position in the Shares.(2)GWF Holding Limited is a company with limited liability incorporated in the BVI and wholly-owned by UBS Trustees(B.V.I.)Ltd.as truste

230、e for a trust established by Mr.Wang Ning(as settlor)for the benefit of Mr.Wang Ning.Mr.Wang Ning is deemed to be interested in 571,981,960 Shares of the Company held by GWF Holding Limited under the SFO.Tianjin Paqu Holding Limited is a company with limited liability incorporated under the laws of

231、BVI and of which Mr.Wang Ning is the sole shareholder.Mr.Wang Ning is therefore deemed to be interested in the 30,082,220 Shares of the Company held by Tianjin Paqu Holding Limited under the SFO.(3)Pop Mart Hehuo Holding Limited is a company with limited liability incorporated under the laws of BVI

232、and holds 72,903,027 Shares in the Company.Mr.Wang Ning and Ms.Yang Tao holds 41.99%and 17.81%of the issued share capital of Pop Mart Hehuo Holding Limited respectively.Both Mr.Wang Ning and Ms.Yang Tao are deemed to be interested in the Shares held by each other due to their spousal relationship an

233、d are therefore deemed to have an interest in the Shares held by Pop Mart Hehuo Holding Limited.(4)Ms.Yang Tao is the spouse of Mr.Wang Ning.By virtue of the SFO,Ms.Yang Tao is deemed to be interested in all the shares held by Mr.Wang Ning.二零二二年中報 INTERIM REPORT 202237OTHER INFORMATION其他資料(5)Sidsi H

234、olding Limited為一家根據英屬維京群島法律註冊成立的投資控股公司，由TMF(Cayman)Ltd.（作為由司德先生（作為委託人）以其本身為受益人設立的XM Family Trust的受託人）全資擁有。(6)Borchid Phoenix Holding Limited由上海朱鳥企業管理合夥企業（有限合夥）全資擁有，而上海朱鳥企業管理合夥企業（有限合夥）分別由Suzhou Borchid Jichu Venture Capital Partnership(Limited Partnership)及Zhoushan Borchid Lizhi Enterprise Management

235、 Partnership(Limited Partnership)擁有99.9%及0.1%。Suzhou Borchid Jichu Venture Capital Partnership(Limited Partnership)由Zhoushan Borchid Lizhi Enterprise Management Partnership(Limited Partnership)擁有1%，而Zhoushan Borchid Lizhi Enterprise Management Partnership(Limited Partnership)由屠錚先生擁有69%。根據 證券及期貨條例，屠錚

236、先生因而被視為於Borchid Phoenix Holding Limited所持本公司32,910,000股股份中擁有權益。(7)BA Capital Fund III,L.P.由BA Capital Limited持有3%，而BA Capital Limited由何愚先生間接擁有51%。根據 證券及期貨條例，何愚先生因而被視為於BA Capital Limited所持本公司2,088,310股股份中擁有權益。除上文所披露者外，於2022年6月30日，概無本公司董事於本公司或其任何相聯法團（定義見證券及期貨條例 第XV部）的股份、相關股份或債權證中擁有或被視為擁有任何根據 證券及期貨條例 第

237、XV部第7及第8分部須知會本公司及聯交所（包括根據 證券及期貨條例 的有關條文彼等被當作或視為擁有的權益及淡倉），或須記入根據 證券及期貨條例 第352條須由本公司存置的登記冊，或根據標準守則須知會本公司及聯交所的權益或淡倉。主要股東於股份及相關股份的權益及淡倉於2022年6月30日，據本公司董事及行政總裁所知，下列人士（本公司董事及行政總裁除外）於股份或相關股份擁有根據 證券及期貨條例 第XV部第2及第3分部須向本公司披露或根據 證券及期貨條例 第336條須由本公司存置的登記冊所記錄的權益或淡倉：(5)Sidsi Holding Limited is an investment holdin

238、g company incorporated under the laws of BVI and wholly-owned by TMF(Cayman)Ltd.as trustee of XM Family Trust set up by Mr.Si De(as settlor)for the benefit of Mr.Si De.(6)Borchid Phoenix Holding Limited is wholly owned by Shanghai Zhuniao Enterprise Management Partnership(Limited Partnership),which

239、is 99.9%and 0.1%owned by Suzhou Borchid Jichu Venture Capital Partnership(Limited Partnership)and Zhoushan Borchid Lizhi Enterprise Management Partnership(Limited Partnership)respectively.Suzhou Borchid Jichu Venture Capital Partnership(Limited Partnership)is owned as to 1%by Zhoushan Borchid Lizhi

240、Enterprise Management Partnership(Limited Partnership),while Zhoushan Borchid Lizhi Enterprise Management Partnership(Limited Partnership)is owned as to 69%by Mr.Tu Zheng.Mr.Tu Zheng is therefore deemed to be interested in the 32,910,000 shares in the Company held by Borchid Phoenix Holding Limited

241、by virtue of the SFO.(7)BA Capital Fund III,L.P.is held as to 3%by BA Capital Limited,which is indirectly owned as to 51%by Mr.He Yu.Mr.He Yu is therefore deemed to be interested in the 2,088,310 shares of the Company held by BA Capital Limited by virtue of the SFO.Save as disclosed above,as at 30 J

242、une 2022,none of the Directors had or was deemed to have any interest or short position in the Shares,underlying Shares or debentures of the Company or any of its associated corporations(within the meaning of Part XV of the SFO)which was required to be notified to the Company and the Stock Exchange

243、pursuant to Divisions 7 and 8 of Part XV of the SFO(including interests and short positions which they were taken or deemed to have taken under such provisions of the SFO),or which were required to be recorded in the register to be kept by the Company under Section 352 of the SFO,or which were requi

244、red to be notified to the Company and the Stock Exchange pursuant to the Model Code.SUBSTANTIAL SHAREHOLDERS INTERESTS AND SHORT POSITIONS IN SHARES AND UNDERLYING SHARESAs at 30 June 2022,to the best knowledge of the Directors or chief executives of the Company,the following persons(not being a Dir

245、ector or chief executives of the Company)had interests or short positions in the Shares or underlying Shares which fall to be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of the SFO as recorded in the register required to be kept by the Company pursuant to section 33

246、6 of the SFO:POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 38OTHER INFORMATION其他資料於本公司股份及相關股份的權益附註：(1)於 2 0 2 2 年 6 月 3 0 日，本 公 司 合 共 已 發 行1,397,572,150股股份。字母 L 代表有關人士於股份的好倉。(2)GWF Holding Limited為一家於英屬維京群島註冊成立的有限公司，由UBS Trustees(B.V.I.)Ltd.全資擁有，而UBS Trustees(B.V.I.)Ltd.以王寧先生作為委託人（以王寧先生為受益人）所創立信

247、託的受託人身份全資擁有。根據 證券及期貨條例，王寧先生被視為於GWF Holding Limited所持本公司571,981,960股股份中擁有權益。Tianjin Paqu Holding Limited為一家根據英屬維京群島法律註冊成立的有限公司，而王寧先生為唯一股東。根據 證券及期貨條例，王寧先生因而被視為於Tianjin Paqu Holding Limited所持本公司30,082,220股股份中擁有權益。(3)Pop Mart Hehuo Holding Limited為一家根據英屬維京群島法律註冊成立的有限公司，並於本公司持有72,903,027股股份。王寧先生及楊濤女士分別持有

248、Pop Mart Hehuo Holding Limited已發行股本的41.99%及17.81%。王寧先生及楊濤女士因其配偶關係被視為於彼此持有之股份中擁有權益，因此彼等被視為於Pop Mart Hehuo Holding Limited所持股份中擁有權益。除上文所披露者外，於2022年6月30日，本公司尚未接獲任何其他人士（本公司董事除外）通知，表示其於本公司股份或相關股份擁有根據證券及期貨條例 第XV部第2及第3分部須予披露，或須記入根據 證券及期貨條例 第336條須由本公司存置的登記冊的權益或淡倉。Interests in Shares and underlying Shares of

249、 the CompanyName of Shareholder股東姓名Capacity/Nature of interest身份權益性質Total number of Shares/underlying Shares held(1)所持股份相關股份總數(1)Approximate percentage of shareholding interest in the Company(%)(1)佔本公司股權概約百分比(%)(1)UBS Trustees(B.V.I.)LimitedTrustee(2)571,981,960(L)40.93%受託人(2)GWF Holding LimitedBene

250、ficial owner(2)571,981,960(L)40.93%實益擁有人(2)Pop Mart Hehuo Holding LimitedBeneficial owner(3)72,903,027(L)5.22%實益擁有人(3)Notes:(1)As at 30 June 2022,the Company had issued 1,397,572,150 Shares in total.The letter“L”denotes the persons long position in the Shares.(2)GWF Holding Limited is a company with

251、 limited liability incorporated in the BVI and wholly-owned by UBS Trustees(B.V.I.)Ltd.as trustee for a trust established by Mr.Wang Ning(as settlor)for the benefit of Mr.Wang Ning.Mr.Wang Ning is deemed to be interested in 571,981,960 Shares of the Company held by GWF Holding Limited under the SFO.

252、Tianjin Paqu Holding Limited is a company with limited liability incorporated under the laws of BVI and of which Mr.Wang Ning is the sole shareholder.Mr.Wang Ning is therefore deemed to be interested in the 30,082,220 Shares of the Company held by Tianjin Paqu Holding Limited under the SFO.(3)Pop Ma

253、rt Hehuo Holding Limited is a company with limited liability incorporated under the laws of BVI and holds 72,903,027 Shares in the Company.Mr.Wang Ning and Ms.Yang Tao holds 41.99%and 17.81%of the issued share capital of Pop Mart Hehuo Holding Limited respectively.Both Mr.Wang Ning and Ms.Yang Tao a

254、re deemed to be interested in the Shares held by each other due to their spousal relationship and are therefore deemed to have an interest in the Shares held by Pop Mart Hehuo Holding Limited.Save as disclosed above,as at 30 June 2022,the Company had not been notified by any other persons(other than

255、 the Directors of the Company)who had an interest or short position in the Shares or underlying Shares of the Company which would fall to be disclosed under Divisions 2 and 3 of Part XV of the SFO,or which were required to be entered in the register required to be kept by the Company pursuant to Sec

256、tion 336 of the SFO.二零二二年中報 INTERIM REPORT 202239OTHER INFORMATION其他資料董事收購股份或債權證的權利 除本中期報告另行披露者外，本公司或其任何附屬公司於截至2022年6月30日止六個月內任何時間概無訂立任何安排以使董事可藉收購本公司或任何其他法團的股份或債權證而獲得利益，且概無董事或任何彼等的配偶或未滿18歲子女獲授任何認購本公司或任何其他法團的股權或債權證的權利或已經行使任何有關權利。購入、出售或贖回上市證券 於截至2022年6月30日止六個月，本公司已於聯交所購回合共4,365,400股本公司股份，總代價約145,464,6

257、60港元。購回股份的具體情況如下：DIRECTORS RIGHTS TO ACQUIRE SHARES OR DEBENTURESSave as otherwise disclosed in this interim report,at no time during the six months ended 30 June 2022,was the Company or any of its subsidiaries a party to any arrangement that would enable the Directors to acquire benefits by means o

258、f acquisition of Shares in,or debentures of,the Company or any other body corporate,and none of the Directors or any of their spouses or children under the age of 18 were granted any right to subscribe for the equity or debt securities of the Company or any other body corporate or had exercised any

259、such right.PURCHASE,SALE OR REDEMPTION OF LISTED SECURITIESDuring the six months ended 30 June 2022,the Company repurchased a total of 4,365,400 shares of the Company on the Stock Exchange at an aggregate consideration of approximately HK$145,464,660.Particulars of the shares repurchased are as foll

260、ows:Month of RepurchaseNo.of Shares RepurchasedPrice Paid per ShareAggregate Consideration購回月份購回股份數目每股支付總代價Highest Lowest 最高價最低價(HK$)(HK$)(HK$)（港元）（港元）（港元）February2月1,410,20039.9536.8554,112,720March3月513,00032.0031.6016,361,170April4月893,60034.0532.6529,998,460May5月1,548,60029.9027.9544,992,310 Tot

261、al總計4,365,400145,464,660 Save as disclosed above,during the six months ended 30 June 2022,neither the Company nor any of its subsidiaries has purchased,sold or redeemed any of the Companys listed securities.除上文所披露者外，於截至2022年6月30日止六個月，本公司或任何其附屬公司並無購入、出售或贖回本公司的上市證券。POP MART INTERNATIONAL GROUP LIMITED

262、 泡泡瑪特國際集團有限公司 40OTHER INFORMATION其他資料首次公開發售後股份獎勵計劃本公司於2020年7月24日有條件採納首次公開發售後股份獎勵計劃。首次公開發售後股份獎勵計劃並非購股權計劃，因而不受上市規則第17章的條文規限。對於董事會根據首次公開發售後股份獎勵計劃授出的任何獎勵（獎勵），本公司委任恒泰信託（香港）有限公司為首次公開發售後股份獎勵計劃的受託人，以管理首次公開發售後股份獎勵計劃，有關獎勵可以股份（獎勵股份）或獎勵股份之實際售價以現金的形式歸屬。首次公開發售後股份獎勵計劃的進一步詳情，請見招股章程。如招股章程所披露，股份獎勵計劃下已有24,428,730股股份配發

263、及發行予Pop Mart Partner Limited，報告期內授予及歸屬的獎勵股份均為上述已發行股份的一部分。於報告期內，按首次公開發售後股份獎勵計劃授出之獎勵股份的變動詳情載列如下：POST-IPO SHARE AWARD SCHEMEThe Company conditionally adopted the Post-IPO Share Award Scheme on 24 July 2020.The Post-IPO Share Award Scheme is not a share option scheme and is not subject to the provisions

264、 of Chapter 17 of the Listing Rules.Our Company appointed Trident Trust Company(HK)Limited as the trustee of the Post-IPO Share Award Scheme to administer the Post-IPO Share Award Scheme with respect to the grant of any award by the Board(an“Award”)which may vest in the form of Shares(“Award Shares”

265、)or the actual selling price of the Award Shares in cash in accordance with the Post-IPO Share Award Scheme.For further details of the Post-IPO Share Award Scheme,please refer to the Prospectus.As disclosed in the Prospectus,24,428,730 Shares have been allotted and issued to Pop Mart Partner Limited

266、,and Award Shares granted and vested during the Reporting Period are part of above-mentioned issued Shares.During the Reporting Period,the details of the changes in the Award Shares granted under the Post-IPO Share Award Scheme are set out below:Relevantrecipient相關獎勵對象Number ofAward Sharesgranted授出獎

267、勵股份數目Grant date授出日期Vesting period(subject to other vesting conditions,if any)歸屬期間（惟須滿足其他歸屬條件，如有）Grantedand pendingvesting as of1 January 2022截至2022年1月1日已授出且待歸屬Vestedduring theperiod期內已歸屬Forfeitedduring theperiod期內已沒收Grantedand pendingvesting as of30 June 2022截至2022年6月30日已授出且待歸屬 Employees2,683,3264 J

268、anuary 2021Vested in tranches within 4 years after the grant date1,875,128134,249263,3501,477,529僱員2021年1月4日授出日期後4年內分批次歸屬104,92531 March 2021Vesting before 31 January 202244,76544,64212302021年3月31日2022年1月31日前歸屬721,2901 April 2021Vested in tranches within 4 years after the grant date721,29026,1250695

269、,1652021年4月1日授出日期後4年內分批次歸屬763,2581 June 2021Vested in tranches within 4 years after the grant date741,518179,61823,028538,8722021年6月1日授出日期後4年內分批次歸屬二零二二年中報 INTERIM REPORT 202241OTHER INFORMATION其他資料Relevantrecipient相關獎勵對象Number ofAward Sharesgranted授出獎勵股份數目Grant date授出日期Vesting period(subject to othe

270、r vesting conditions,if any)歸屬期間（惟須滿足其他歸屬條件，如有）Grantedand pendingvesting as of1 January 2022截至2022年1月1日已授出且待歸屬Vestedduring theperiod期內已歸屬Forfeitedduring theperiod期內已沒收Grantedand pendingvesting as of30 June 2022截至2022年6月30日已授出且待歸屬 160,7522 July 2021Vested in tranches within 4 years after the grant da

271、te94,86903,66091,2092021年7月2日授出日期後4年內分批次歸屬348,0584 October 2021Vested in tranches within 4 years after the grant date348,05808,685339,3732021年10月4日授出日期後4年內分批次歸屬33,0543 January 20223 January 2022033,054002022年1月3日2022年1月3日113,4893 January 2022Vested in tranches within 4 years after the grant date0023

272、,81389,6762022年1月3日授出日期後4年內分批次歸屬51,6011 April 20221 April 2022051,601002022年4月1日2022年4月1日1,303,7921 April 2022Vested in tranches within 4 years after the grant date0001,303,7922022年4月1日授出日期後4年內分批次歸屬Goods or service providers9,4051 April 20221 April 202209,40500貨品或服務2022年4月1日2022年4月1日 供應商177,99426 Ma

273、y 202226 May 20220177,994002022年5月26日2022年5月26日 POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 42OTHER INFORMATION其他資料AUDIT COMMITTEEThe audit committee of the Company(the“Audit Committee”)comprises two independent non-executive Directors and one non-executive Director,namely,Mr.Wu Liansheng,Mr.N

274、gan King Leung Gary and Mr.Tu Zheng.The chairman of the Audit Committee is Mr.Wu Liansheng,and Mr.Ngan King Leung Gary,a member of the Audit Committee,has a professional qualification in accountancy.The Audit Committee has reviewed with management the accounting principles and practices adopted by t

275、he Group,and discussed internal controls and financial reporting matters,including a review of the interim financial information for the six months ended 30 June 2022.The Companys external auditor,PricewaterhouseCoopers,has performed a review of the Groups interim financial information for the six m

276、onths ended 30 June 2022 in accordance with the International Standard on Review Engagements 2410,“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”.Based on their review,PricewaterhouseCoopers confirmed that nothing has come to their attention that causes t

277、hem to believe that the interim financial information is not prepared,in all material respects,in accordance with International Accounting Standard 34“Interim Financial Reporting”.On behalf of the BoardMr.Wang NingChairman of the BoardHong Kong,25 August 2022審核委員會本公司審核委員會（審核委員會）由兩名獨立非執行董事和一名非執行董事組成，

278、分別為吳聯生先生、顏勁良先生及屠錚先生。審核委員會主席為吳聯生先生，審核委員會成員顏勁良先生具專業會計資格。審核委員會已與管理層審閱本集團採納之會計準則及慣例，並討論內部監控及財務匯報事宜，包括審閱截至2022年6月30日止六個月之中期財務資料。本公司外聘核數師羅兵咸永道會計師事務所已根據國際審閱委聘準則第2410號 由實體的獨立核數師執行中期財務資料審閱，對本集團截至2022年6月30日止六個月的中期財務資料進行審閱。羅兵咸永道會計師事務所已確認，按照他們的審閱，並無發現任何事項致令他們相信中期財務資料在各重大方面未有根據國際會計準則第34號 中期財務報告 編製。代表董事會董事會主席王寧先生

279、香港，2022年8月25日二零二二年中報 INTERIM REPORT 202243INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME中期簡明綜合損益及其他全面收益表Six months ended 30 June截至6月30日止六個月202220212022年2021年RMB000RMB000人民幣千元人民幣千元Note(Unaudited)(Unaudited)附註（未經審核）（未經審核）Revenue收益52,358,8181,772,577Cost of sa

280、les銷售成本6(988,411)(655,512)Gross profit毛利1,370,4071,117,065 Distribution and selling expenses經銷及銷售開支6(693,230)(419,780)General and administrative expenses一般及行政開支6(322,679)(239,673)Reversal of/(provision for)impairment losses on financial assets金融資產減值虧損撥回（撥備）80(3,296)Other income其他收入724,33525,425Other

281、 gains-net其他收益淨額867,1446,946 Operating profit經營溢利446,057486,687 Finance income財務收入922,99213,888Finance expenses財務開支9(15,981)(8,160)Finance income-net財務收入淨額97,0115,728 Share of profit of investments accounted for using the equity method分佔使用權益法入賬的投資溢利164,8684,140 Profit before income tax除所得稅前溢利457,936

282、496,555 Income tax expense所得稅開支10(124,991)(137,757)Profit for the period期內溢利332,945358,798 Profit for the period attributable to:以下應佔期內溢利：Owners of the Company 本公司擁有人332,820358,742 Non-controlling interests 非控股權益12556 POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 44INTERIM CONDENSED CONSOLIDATED

283、 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME中期簡明綜合損益及其他全面收益表Six months ended 30 June截至6月30日止六個月202220212022年2021年RMB000RMB000人民幣千元人民幣千元Note(Unaudited)(Unaudited)附註（未經審核）（未經審核）Other comprehensive income/(loss)其他全面收益（虧損）Items that may be reclassified to profit or loss可能重新分類至損益的項目 Curren

284、cy translation differences 貨幣換算差額5,727(3,198)Items that will not be reclassified to profit or loss將不會重新分類至損益的項目 Currency translation differences 貨幣換算差額237,129(51,275)Other comprehensive income/(loss)for the period,net of tax期內其他全面收益（虧損），除稅後242,856(54,473)Total comprehensive income for the period期內全面

285、收益總額575,801304,325 Total comprehensive income for the period attributable to:以下應佔期內全面收益總額：Owners of the Company 本公司擁有人575,590304,336 Non-controlling interests 非控股權益211(11)Earnings per share for profit attributable to owners of the Company本公司擁有人應佔溢利的每股盈利Basic(expressed in RMB cents per share)基本（以每股人民

286、幣分表示）1224.1826.04Diluted(expressed in RMB cents per share)攤薄（以每股人民幣分表示）1224.1726.02 The above interim condensed consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.以上中期簡明綜合損益及其他全面收益表應與隨附附註一併閱讀。二零二二年中報 INTERIM REPORT 202245

287、INTERIM CONDENSED CONSOLIDATED BALANCE SHEET中期簡明綜合資產負債表As at 30 JuneAs at 31 December於6月30日於12月31日202220212022年2021年RMB000RMB000人民幣千元人民幣千元Note(Unaudited)(Audited)附註（未經審核）（經審核）Assets資產Non-current assets非流動資產Property,plant and equipment物業、廠房及設備13403,986366,281Intangible assets無形資產14119,378134,032Right

288、-of-use assets使用權資產15640,044609,517Investments accounted for using the equity method使用權益法入賬的投資1667,96961,539Financial assets at fair value through profit or loss按公平值計入損益的金融資產4.4471,235328,688Prepayments and other non-current assets預付款項及其他非流動資產1714,67630,727Deferred income tax assets遞延所得稅資產30,63335,5

289、53 Total non-current assets總非流動資產1,747,9211,566,337 Current assets流動資產Trade receivables貿易應收款項18132,442171,334Other receivables其他應收款項197,104154,939Inventories存貨957,448788,829Prepayments and other current assets預付款項及其他流動資產17374,916353,580Financial assets at fair value through profit or loss按公平值計入損益的金融

290、資產4.413,92620,544Restricted cash受限制現金3,4943,353Term deposits with initial term over three months and within one year初步為期三個月以上及一年以內的 定期存款4,087,243Cash and cash equivalents現金及現金等價物1,075,3805,264,710 Total current assets總流動資產6,841,9536,757,289 Total assets總資產8,589,8748,323,626 POP MART INTERNATIONAL GR

291、OUP LIMITED 泡泡瑪特國際集團有限公司 46INTERIM CONDENSED CONSOLIDATED BALANCE SHEET中期簡明綜合資產負債表As at 30 JuneAs at 31 December於6月30日於12月31日202220212022年2021年RMB000RMB000人民幣千元人民幣千元Note(Unaudited)(Audited)附註（未經審核）（經審核）Equity權益Share capital股本19920923Shares held for share award scheme就股份獎勵計劃持有的股份20(15)(15)Other reser

292、ves其他儲備4,984,7325,023,583Retained earnings保留盈利2,126,5111,793,691 Equity attributable to owners of the Company本公司擁有人應佔權益7,112,1486,818,182Non-controlling interests in equity非控股權益2,0351,824 Total equity總權益7,114,1836,820,006 Liabilities負債Non-current liabilities非流動負債License fees payables應付授權費2328,16046,

293、371Lease liabilities租賃負債15421,409364,543 Total non-current liabilities總非流動負債449,569410,914 Current liabilities流動負債Trade payables貿易應付款項22308,470266,098License fees payables應付授權費23106,46586,004Other payables其他應付款項24196,189266,902Contract liabilities合約負債93,331119,624Lease liabilities租賃負債15256,051256,90

294、9Current income tax liabilities即期所得稅負債65,61697,169 Total current liabilities總流動負債1,026,1221,092,706 Total liabilities總負債1,475,6911,503,620 Total equity and liabilities總權益及負債8,589,8748,323,626 二零二二年中報 INTERIM REPORT 202247INTERIM CONDENSED CONSOLIDATED BALANCE SHEET中期簡明綜合資產負債表The above interim conden

295、sed consolidated balance sheet should be read in conjunction with the accompanying notes.The interim condensed consolidated financial information on pages 43 to 104 was approved and authorised for issue by the Board of Directors on 25 August 2022 and was signed on its behalf by:Executive Director&Ch

296、airmanExecutive Director執行董事及主席執行董事以上中期簡明綜合資產負債表應與隨附附註一併閱讀。發佈第43頁至第104頁的中期簡明綜合財務資料於2022年8月25日獲董事會批准及授權刊發，並由下列董事代表簽署：POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 48INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY中期簡明綜合權益變動表Unaudited未經審核 Attributable to owners of the Company本公司擁有人應佔

297、 Share capital Share held for Share Award SchemeOther reservesRetained earningsSubtotalNon-controlling interestsTotal股本就股份獎勵計劃持有的股份其他儲備保留盈利小計非控股權益合計(Note 19)（附註19）NoteRMB000RMB000RMB000RMB000RMB000RMB000RMB000附註人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元 Balance at 1 January 2022於2022年1月1日的結餘923(15)5,023,58

298、31,793,6916,818,1821,8246,820,006Comprehensive income全面收益Profit for the period期內溢利332,820332,820125332,945Other comprehensive income其他全面收益Currency translation difference貨幣換算差額242,770242,77086242,856 Total comprehensive income全面收益總額242,770332,820575,590211575,801 Transaction with owners與擁有人的交易Purchas

299、e and cancellation of own shares購買及註銷自身股份(3)(120,005)(120,008)(120,008)Dividends declared宣派股息11(209,490)(209,490)(209,490)Shares vested under the Share Award Scheme*股份獎勵計劃項下已歸屬股份*20Share-based compensation以股份為基礎的報酬2147,87447,87447,874 Total transaction with owners與擁有人的交易總額(3)(281,621)(281,624)(281,6

300、24)Balance at 30 June 2022於2022年6月30日的結餘920(15)4,984,7322,126,5117,112,1482,0357,114,183 *The amount of shares vested under share award scheme is below RMB500,so it is rounded in above interim condensed consolidated statement of changes in equity.*股份獎勵計劃項下已歸屬股份金額低於人民幣500元，故約整至上述中期簡明綜合權益變動表。二零二二年中報 I

301、NTERIM REPORT 202249INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY中期簡明綜合權益變動表Unaudited未經審核 Attributable to owners of the Company本公司擁有人應佔 Share capital Share held for Share Award Scheme*Other reservesRetained earningsSubtotalNon-controlling interestsTotal股本就股份獎勵計劃持有的股份*其他儲備保留盈利小計非控股權益

302、合計(Note 19)(Note 20)（附註19）（附註20）NoteRMB000RMB000RMB000RMB000RMB000RMB000RMB000附註人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元 Balance at 1 January 2021於2021年1月1日的結餘923(16)5,189,115939,3526,129,3741,6286,131,002Comprehensive income全面收益Profit for the period期內溢利358,742358,74256358,798Other comprehensive income其他

303、全面收益Currency translation difference貨幣換算差額(54,406)(54,406)(67)(54,473)Total comprehensive income全面收益總額(54,406)358,742304,336(11)304,325 Transaction with owners與擁有人的交易Dividends declared宣派股息11(205,832)(205,832)(205,832)Shares vested under the Share Award Scheme*股份獎勵計劃項下已歸屬股份*20Share-based compensation

304、expenses 以股份為基礎的報酬開支2185,18285,18285,182 Total transaction with owners與擁有人的交易總額(120,650)(120,650)(120,650)Balance at 30 June 2021於2021年6月30日的結餘923(16)5,014,0591,298,0946,313,0601,6176,314,677 *The amount of shares vested under share award scheme is below RMB500,so it is rounded in above interim cond

305、ensed consolidated statement of changes in equity.The above interim condensed consolidated statement of changes in equity should be read in conjunction with the accompanying notes.*股份獎勵計劃項下已歸屬股份金額低於人民幣500元，故約整至上述中期簡明綜合權益變動表。以上中期簡明綜合權益變動表應與隨附附註一併閱讀。POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 50

306、INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS中期簡明綜合現金流量表Six months ended 30 June截至6月30日止六個月202220212022年2021年RMB000RMB000人民幣千元人民幣千元Note(Unaudited)(Unaudited)附註（未經審核）（未經審核）Cash flows from operating activities經營活動產生的現金流量Cash generated from operations經營所得現金523,391554,706Interest received已收利息1

307、,81113,888Income tax paid已付所得稅(151,624)(126,937)Net cash generated from operating activities經營活動所得現金淨額373,578441,657 Cash flows from investing activities投資活動產生的現金流量Purchases of property,plant and equipment購買物業、廠房及設備(135,860)(114,350)Purchases of intangible assets購買無形資產(26,253)(12,460)Purchases of fi

308、nancial assets at fair value through profit or loss購買按公平值計入損益的金融資產(1,084,688)(1,017,806)Increase in term deposits with initial terms over three months and within one year初步為期三個月以上及一年以內的 定期存款增加(3,985,022)(4,263,666)Proceeds from disposal of financial assets at fair value through profit or loss處置按公平值計

309、入損益的金融資產 所得款項1,010,949882,445Investment income from financial assets at fair value through profit or loss按公平值計入損益的金融資產投資 收入6,02111,500Proceeds from disposal of property,plant and equipment,intangible assets and right-of-use assets處置物業、廠房及設備、無形資產 及使用權資產所得款項4,95115,930 Net cash used in investing activ

310、ities投資活動所用現金淨額(4,209,902)(4,498,407)二零二二年中報 INTERIM REPORT 202251INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS中期簡明綜合現金流量表Six months ended 30 June截至6月30日止六個月202220212022年2021年RMB000RMB000人民幣千元人民幣千元Note(Unaudited)(Unaudited)附註（未經審核）（未經審核）Cash flows from financing activities融資活動產生的現金流量Paymen

311、t of lease liabilities租賃負債付款15(139,351)(94,201)Dividends paid已付股息11(221,202)(26,797)Payments for shares repurchase股份回購付款(120,008)Net cash used in from financing activities融資活動所用現金淨額(480,561)(120,998)Net decreased in cash and cash equivalents現金及現金等價物減少淨額(4,316,885)(4,177,748)Cash and cash equivalents

312、 at beginning of the period期初的現金及現金等價物5,264,7105,680,235Exchange gains on cash and cash equivalents現金及現金等價物的匯兌收益127,5551,135 Cash and cash equivalents at end of the period期末的現金及現金等價物1,075,3801,503,622 The above interim condensed consolidated statement of cash flows should be read in conjunction with

313、 the accompanying notes.以上中期簡明綜合現金流量表應與隨附附註一併閱讀。POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 52NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION中期簡明綜合財務資料附註1 一般資料泡泡瑪特國際集團有限公司（本公司）於2019年5月9日根據開曼群島公司法第22章（1961年第3號法例，經綜合及修訂）在開曼群島註冊成立為獲豁免有限公司。本公司註冊辦事處的地址為P.O.Box 309,Ugland House,Gra

314、nd Cayman,KY1-1104,Cayman Islands。本公司為投資控股公司，其附屬公司主要 於 中 華 人 民 共 和 國 及 若 干 海 外 國 家及地區從事潮流玩具的產品設計與開發及銷售。本公司的最終控股公司為GWF Holding Limited（前稱為Grant Wang Holding Limited），後者由王寧先生及其配偶楊濤女士控制。本公司股份自2020年12月11日起於香港聯合交易所有限公司（香港聯交所）主板上市。除非另有說明，否則本中期簡明綜合財務資料以人民幣（人民幣）呈列。本中期簡明綜合財務資料已於2022年8月25日經本公司董事會批准刊發。本截至2022年

315、6月30日止六個月的中期簡明綜合財務資料未經審核。1 GENERAL INFORMATIONPop Mart International Group Limited(the“Company”)was incorporated in the Cayman Islands on 9 May 2019 as an exempted company with limited liability under the Companies Law(Cap.22,Law 3 of 1961 as consolidated and revised)of the Cayman Islands.The addres

316、s of the Companys registered office is P.O.Box 309,Ugland House,Grand Cayman,KY1-1104,Cayman Islands.The Company is an investment holding company and its subsidiaries are principally engaged in the product design and development and sale of pop toys in the Peoples Republic of China and certain overs

317、eas countries and regions.The ultimate holding company of the Company is GWF Holding Limited(formerly known as Grant Wang Holding Limited),which is controlled by Mr.Wang Ning and his spouse,Ms.Yang Tao.The Companys shares have been listed on the Main Board of The Stock Exchange of Hong Kong Limited(

318、“Hong Kong Stock Exchange”)since 11 December 2020.This interim condensed consolidated financial information is presented in Renminbi(“RMB”),unless otherwise stated.This interim condensed consolidated financial information was approved for issue by the board of directors of the Company on 25 August 2

319、022.This interim condensed consolidated financial information for the six months ended 30 June 2022 has not been audited.二零二二年中報 INTERIM REPORT 202253NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION中期簡明綜合財務資料附註2 編製基準截至2022年6月30日止六個月中期簡明綜合財務資料乃根據國際會計準則第34號 中期財務報告（國際會計準則第34號）編製。中期簡明綜合

320、財務資料並不包括通常載於年度財務報告的所有類型附註。因此，本中期簡明綜合財務資料應與本集團根據國際財務報告準則（國際財務報告準則）編製的截至2021年12月31日止年度全年財務報表以及本公司於中期報告期已刊發的任何公告一併閱讀。2.1 會計政策編製本簡明綜合中期財務資料所採用的會計政策與截至2021年12月31日止年度全年財務報表所採用的會計政策一致，惟使用適用於預期年度總收益的稅率進行之所得稅估計除外。多項經修訂準則及年度改進於本報告期間生效。本集團並無因採納該等經修訂準則而變更其會計政策或作出追溯調整。已頒佈但尚未獲本集團採納的準則之影響若干新訂或經修訂會計準則已經頒佈，但並不對自2022

321、年1月1日起開始的報告期間強制生效，且並無獲本集團提早採納。該等新訂或經修訂準則預期將不會於本報告期間或未來報告期間對本集團及可見將來的交易造成重大影響。2 BASIS OF PREPARATIONThis interim condensed consolidated financial information for the six months ended 30 June 2022 has been prepared in accordance with International Accounting Standard 34“Interim Financial Reporting”(“I

322、AS 34”).The interim condensed consolidated financial information does not include all the notes of the type normally included in an annual financial report.Accordingly,this interim condensed consolidated financial information is to be read in conjunction with the Groups annual financial statements f

323、or the year ended 31 December 2021,which have been prepared in accordance with International Financial Reporting Standards(“IFRS”),and any public announcements made by the Company during the interim reporting period.2.1 Accounting policiesThe accounting policies applied to the preparation of this in

324、terim condensed consolidated financial information are consistent with those applied in the annual financial statements for the year ended 31 December 2021,except for the estimation of income tax using the tax rate that would be applicable to expected total annual earnings.A number of amended standa

325、rds and annual improvement became applicable for the current reporting period.The Group did not change its accounting policies or make retrospective adjustments as a result of adopting these amended standards.Impact of standards issued but not yet applied by the GroupCertain new or amended accountin

326、g standards have been published but are not mandatory for reporting period commencing 1 January 2022 and have not been early adopted by the Group.These new or amended standards are not expected to have a material impact on the Group in the current or future reporting periods and on foreseeable futur

327、e transactions.POP MART INTERNATIONAL GROUP LIMITED 泡泡瑪特國際集團有限公司 54NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION中期簡明綜合財務資料附註3 關鍵估計及判斷編製中期簡明綜合財務資料需要管理層作出判斷、估計及假設，該等判斷、估計及假設影響會計政策的應用以及資產及負債、收入及開支的報告金額。實際結果可能與估計不同。在編製本中期簡明綜合財務資料時，管理層在應用本集團會計政策時作出的重大判斷及估計不確定性的主要來源與截至2021年12月31日止年度綜合財

328、務報表所應用者相同。4 財務風險管理4.1 財務風險因素本集團的活動使其面臨各種財務風險：市場風險（包括外匯風險）、信貸風險及流動資金風險。中期簡明綜合財務資料並不包括年度財務報表要求的所有財務風險管理資料及披露，應與本集團截至2021年12月31日止年度全年財務報表一併閱讀。自2021年12月31日起，風險管理政策並無變動。3 CRITICAL ESTIMATES AND JUDGEMENTSThe preparation of interim condensed consolidated financial information requires management to make j

329、udgments,estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities,income and expense.Actual results may differ from these estimates.In preparing this interim condensed consolidated financial information,the significant judgments

330、made by management in applying the Groups accounting policies and the key sources of estimation uncertainty were the same as those that were applied to the consolidated financial statements for the year ended 31 December 2021.4 FINANCIAL RISK MANAGEMENT4.1 Financial risk factorsThe Groups activities

331、 expose it to a variety of financial risks:market risk(including foreign exchange risk),credit risk and liquidity risk.The interim condensed consolidated financial information does not include all financial risk management information and disclosures required in the annual financial statements,and s

332、hould be read in conjunction with the Groups annual financial statements for the year ended 31 December 2021.There have been no changes in the risk management policies since 31 December 2021.二零二二年中報 INTERIM REPORT 202255NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION中期簡明綜合財務資料附註4 財

333、務風險管理（續）4.2 信貸風險信貸風險指若本集團的顧客客戶或交易對手未能履行其對本集團的合約責任而蒙受財務損失的風險。本集團的信用風險主要來自於從事經營活動的附屬公司之貿易應收款項及其他應收款項。本集團按照國際財務報告準則第9號 金融工具 的條文，對以攤銷成本計量的債務工具減值評估採用 預期信貸虧損 模型。於2022年6月30日，本集團存有初步為期三個月以上及一年以內的定期存款人民幣4,087,243,000元。所有該等定期存款均存放於中國大陸信譽良好的金融機構以及中國大陸境外的國際金融機構，該等金融機構均為信用質量良好且並無重大信用風險的金融機構。4.3 流動資金風險下表分析本集團按報告期末至合約到期日的剩餘期間的相關到期組別將結付的金融負債（不包括法定負債）。下表披露金額乃合約非貼現現金流量。由於貼現的影響並不重大，故於十二個月內到期的結餘相等於賬面結餘。4 FINANCIAL RI