泡泡玛特2023年简体中文版年报

泡泡玛特2023年简体中文版年报
ANNUAL REPORT
二零二三年年报ANNUAL REPORT 202312Corporate Information公司资料6Financial Summary财务概要8Chairman’s Statement董事长致辞10Management Discussion and Analysis管理层讨论与分析33Biographies of Directors and Senior Management董事及高级管理层履历40Report of Directors董事会报告书76Corporate Governance Report企业管治报告1002023 Environmental, Social and Governance Report2023年环境、社会及管治报告172Independent Auditor’s Report独立核数师报告180Consolidated Statement of Profit or Loss andOther Comprehensive Income综合损益及其他全面收益表182Consolidated Balance Sheet综合资产负债表185Consolidated Statement of Changes in Equity综合权益变动表187Consolidated Statement of Cash Flows综合现金流量表189Notes to the Consolidated Financial Statements综合财务报表附注319Definition释义CONTENTS目录
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司2CORPORATE INFORMATION公司资料董事会执行董事王宁先生（董事会主席）杨涛女士（于2024年3月20日辞任）刘冉女士司德先生文德一先生（于2024年3月20日获委任）非执行董事屠铮先生何愚先生独立非执行董事张建君先生吴联生先生颜劲良先生薪酬委员会张建君先生（主席）吴联生先生王宁先生提名委员会王宁先生（主席）张建君先生吴联生先生审核委员会吴联生先生（主席）屠铮先生颜劲良先生联席公司秘书李鸿轩先生李菁怡女士授权代表王宁先生李菁怡女士BOARD OF DIRECTORSExecutive DirectorsMr. Wang Ning(Chairman of the Board)Ms. Yang Tao(resigned on March 20, 2024)Ms. Liu RanMr. Si DeMr. Moon Duk Il(appointed on March 20, 2024)Non-Executive 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(Chairman)Mr. Tu ZhengMr. Ngan King Leung GaryJOINT COMPANY SECRETARIESMr. Li HongxuanMs. Li Ching YiAUTHORISED REPRESENTATIVESMr. Wang NingMs. Li Ching Yi
二零二三年年报ANNUAL REPORT 20233CORPORATE INFORMATION公司资料HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN THE PRCFloor 36 & 37, Block A, Puxiang CenterHongtai East StreetDawangjing Technology Business ParkChaoyang District, BeijingPRCPRINCIPAL PLACE OF BUSINESS IN HONG KONG19/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 Investor Services LimitedShops 1712-171617th Floor Hopewell Centre183 Queen’s Road EastWanchaiHong Kong总部及中国主要营业地点中国北京市朝阳区大望京科技商务园区宏泰东街浦项中心A座36及37楼香港主要营业地点香港德辅道中188号金龙中心19楼股份过户登记总处Maples Fund Services (Cayman) LimitedPO Box 1093Boundary HallCricket SquareGrand Cayman KY1-1102Cayman Islands香港股份过户登记处香港中央证券登记有限公司香港湾仔皇后大道东183号合和中心17楼1712-1716号舖
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司4CORPORATE INFORMATION公司资料PRINCIPAL BANKSIndustrial and Commercial Bank of China Limited(Zhu Shi Kou Branch)No.15, East Street, ZhushikouChongwen District, Beijing, PRCBank of Communications Co., 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 WEBSITEwww.popmart.comLEGAL ADVISERSAs to Hong Kong lawsDavis Polk & Wardwell10th Floor, The Hong Kong Club Building3A Chater RoadCentralHong KongAs to PRC lawJingtian & Gongcheng45/F, K. Wah Centre1010 Huaihai Road (M)Xuhui DistrictShanghai 200031PRCAs to Cayman Islands lawsMaples and Calder (Hong Kong) LLP26th Floor, Central Plaza18 Harbour RoadWanchai, Hong Kong主要往来银行中国工商银行股份有限公司（珠市口支行）中国北京市崇文区珠市口东大街15号交通银行股份有限公司（望京支行）中国北京市朝阳区望京街9号望京国际商业中心中国民生银行股份有限公司（望京支行）中国北京市朝阳区广顺北大街南湖东园一区122号楼博泰国际B座公司网站www.popmart.com法律顾问有关香港法律达维律师事务所香港中环遮打道3A号香港会所大厦10楼有关中国法律竞天公诚律师事务所中国上海市徐汇区淮海中路1010号嘉华中心45层邮政编码：200031有关开曼群岛法律迈普达律师事务所（香港）有限法律责任合伙香港湾仔港湾道18号中环广场26楼
二零二三年年报ANNUAL REPORT 20235CORPORATE INFORMATION公司资料AUDITORPricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22/F, Prince’s BuildingCentral, Hong KongSTOCK CODE9992核数师罗兵咸永道会计师事务所执业会计师注册公众利益实体核数师香港中环太子大厦22楼股份代号9992
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司6FINANCIAL SUMMARY财务概要FINANCIAL PERFORMANCE HIGHLIGHTSFor the year ended 31 December截至12月31日止年度202320222021202020192023年2022年2021年2020年2019年RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元Revenue收入6,301,0024,617,324 4,490,6512,513,4711,683,434Gross profit毛利3,864,0712,654,543 2,758,6241,594,1081,090,334Operating profit经营溢利1,230,646583,380 1,149,812718,783598,794Profit before income tax除所得税前溢利1,415,755639,529 1,171,191707,403598,375Profit for the year年内溢利1,088,771475,801 854,567523,312451,118Profit attributable toowners of the Company本公司拥有人应占溢利1,082,344475,660 854,339523,505451,118Non-IFRS adjusted net profit非国际财务报告准则经调整纯利1,190,519573,540 1,001,635590,506469,123Gross profit margin毛利率61.3%57.5%61.4%63.4%64.8%Net profit margin纯利率17.3%10.3%19.0%20.8%26.8%Non-IFRS adjusted netprofit margin非国际财务报告准则经调整纯利率18.9%12.4%22.3%23.5%27.9%财务业绩摘要
二零二三年年报ANNUAL REPORT 20237FINANCIAL SUMMARY财务概要财务状况表摘要FINANCIAL POSITION HIGHLIGHTSAs at 31 December于12月31日202320222021202020192023年2022年2021年2020年2019年RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元Total current assets总流动资产7,683,4696,615,535 6,757,2896,255,900716,601Total non-current assets总非流动资产2,285,3941,964,527 1,566,337715,399349,880Total assets总资产9,968,8638,580,0628,323,6266,971,2991,066,481Total current liabilities总流动负债1,733,3011,130,747 1,092,706665,313381,570Total non-current liabilities总非流动负债455,180483,990 410,914174,98492,130Total liabilities总负债2,188,4811,614,7371,503,620840,297473,700Equity attributable toowners of the Company本公司拥有人应占权益7,769,9276,963,288 6,818,1826,129,374592,781Non-controlling interests inequity非控股权益10,4552,037 1,8241,628–Total equity总权益7,780,3826,965,3256,820,0066,131,002592,781Total equity and liabilities总权益及负债9,968,8638,580,0628,323,6266,971,2991,066,481
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司8CHAIRMAN’S STATEMENT董事长致辞尊敬的各位股东及投资人朋友：三年一个小周期，一转眼，泡泡玛特已经度过了上市后第三个完整的财年。回顾过去一年，泡泡玛特营收、净利润均创历史新高。泡泡玛特全年实现营收63亿人民币，同比增长36.5%；调整后净利润11.9亿元，同比增长107.6%。去年泡泡玛特IP整体表现优异，第一次有10个IP销售额过亿。头部IP SKULLPANDA、MOLLY收入均突破10亿人民币，销售占比都在16%左右。销售排名前五的IP合计占比在55%左右，IP销售占比既有集中也有分散，是一个非常健康的状态，这些销售数据证明了我们IP的吸引力，以及我们多年积累下来的更加成熟的IP运营能力。深化DTC战略是近年来泡泡玛特全球化的核心思路，通过布局品牌线下门店、线上渠道，及举办行业展会，泡泡玛特品牌及旗下IP在全球认可度进一步提升。2023年，泡泡玛特线下门店首次进驻法国、马来西亚、泰国、荷兰，全球门店首日销售额纪录数次刷新。泡泡玛特上市的时候就对外界表示，IP是我们的核心，全球化和集团化是我们的核心发展战略。近几年，尽管经济、社会环境复杂多变，我们始终坚定不移地执行两大战略，保持业务稳步推进，实现营收增长并持续盈利，体现了强大的组织韧性。2023年是泡泡玛特上市以来，战略成果初见成效的一年，过去埋下的一些种子结出了丰硕果实：泡泡玛特城市乐园落地北京朝阳公园，成为潮玩行业首个沉浸式IP主题乐园；游戏业务宣布即将上线；旗下青年当代艺术运营机构inner flow在北京798艺术区落地inner flow Gallery；动画业务也在积极筹备中。Dear Shareholders and Investors:As time flies by, Pop Mart has spent its third complete financial year afterlisting. Looking back on the past year, Pop Mart’s revenue and net profithit a record high. Pop Mart achieved an annual revenue of RMB6.3 billion,representing a year-on-year increase of 36.5%; adjusted net profit wasRMB1.19 billion, with a year-on-year increase of 107.6%.The overall IP performance of Pop Mart was excellent last year, with 10IPs exceeding RMB100 million in sales for the first time. The revenue ofSKULLPANDA and MOLLY, the top IPs, exceeded RMB1 billion, and their salesboth accounted for approximately 16% of the total. The top five IPs in termsof sales accounted for around 55% of the total, and the sales share of IPswas both concentrated and dispersed, which was in a very sound position.These sales figures proved the attractiveness of our IPs and our more maturecapability on IP operation accumulated over the years.Deepening the DTC strategy is the core approach to globalize Pop Mart inrecent years. By expanding our brand through retail stores, online channels,and hosting industry conventions, the recognition of Pop Mart’s brand and itsIP has further increased globally. In 2023, we opened our first offline stores inFrance, Malaysia, Thailand and Netherlands, and set a new global store recordfor sales on the first day.We had always stood firm on regarding IP as our core asset at the time oflisting, with globalisation and conglomeration as our core developmentstrategies. In recent years, despite the complex and ever-changing economicand social environment, we have consistently implemented these two majorstrategies to steadily advance our business and achieve revenue growthand sustainable profitability, which has demonstrated strong organisationalresilience. The year of 2023 has witnessed initial success of Pop Mart’sstrategies since its listing, with seeds sown in the past having borneabundant fruits: POP LAND has landed in Chaoyang Park in Beijing, becomingthe first immersive IP-themed park in the pop toy industry; the gamingbusiness is announced to be launched soon; the Company’s contemporaryart operation institution, inner flow, has opened a Gallery in Beijing 798 ArtPark; and the animation business is also in proactive preparation.
二零二三年年报ANNUAL REPORT 20239CHAIRMAN’S STATEMENT董事长致辞As the process of globalisation and conglomeration continues to deepen,“Pop Toy”no longer fully explains the essence of Pop Mart. In 2023, we re-identified and restructured the Company’s future business development intofour core segments: IP incubation and operation, pop toy merchandizingand retail, theme park and IP experience, and digital entertainment. Amongwhich, the theme park and IP experience. The theme park and IP experiencebusiness includes park operations, domestic and overseas pop toy shows, andinternally-incubated new businesses. Meanwhile, the digital entertainmentbusiness focuses on game development, content creation, and relatedactivities.In 2023, Pop Mart has achieved excellent results. However, we are muchmore concerned about the Company’s determination to execute its strategyand the new capabilities it has developed as well as its enhanced steadinessas a whole, not just financial figures. The Company is becoming more andmore mature, while the sound development of many new businesses hascreated expectations for the future. Thus, we are very confident in the futuredevelopment of the Company.Finally, I would like to extend my gratitude to all consumers, partnersand investors for your long-time support and trust, and to all colleaguesfor your hard work. I hope we can continue to work together and forgeahead towards our vision of becoming the world’s leading pop cultureentertainment company.Chairman of the BoardMr. Wang Ning随着全球化和集团化稳步推进，「潮玩」两个字已不足以定义泡泡玛特。2023年，我们重新梳理了本公司未来的业务版块，把本公司业务分成了IP孵化与运营、潮流玩具与零售、主题乐园与体验、数字娱乐四大版块。其中主题乐园与体验业务包含乐园业务、国内和海外的潮玩展业务，以及内部孵化的一些新业务；数字娱乐更多是基于未来，包含了我们的游戏、内容等相关的业务。2023年，泡泡玛特取得了非常不错的成绩，但我们更关心数字背后，本公司对战略的执行定力，长出的新能力，以及整个公司健康度的提升。本公司在变得越来越成熟，很多新业务的健康发展给未来埋下了值得期待的种子。我们对本公司未来的发展非常有信心。最后，要感谢所有消费者、合作伙伴、投资人一如既往的支持与信任，感谢所有同事的辛勤工作。希望我们继续携手奋进、砥砺前行，为实现全球领先的潮流文化娱乐公司这一使命全力以赴。董事会主席王宁先生
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司10MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析业务回顾在2023年，随着一系列扩大内需、促进消费政策的有效实施，居民消费需求得到了加快释放，消费市场的恢复基础也不断得到巩固。同时，居民的出游意愿增强，带动了线下商业的良好发展态势。随着国民经济的持续回暖，消费市场的扩大趋势将得到进一步巩固和增强。基于公司各部门的不懈努力，我们凭借出色的运营能力和创造力，在为消费者提供优质服务的同时，推出了多个受到广大消费者喜爱的新品系列，取得了优秀的销量表现。报告期间，我们的收入达到人民币6,301.0百万元，同比增速36.5%。通过持续拓展国际市场、深入推进本土化运营，我们的港澳台及海外业务保持了高速发展的态势，收入达到人民币1,066.1百万元，同比增速134.9%，其收入占比达到16.9%。IP孵化与运营IP运营与创意设计是推动泡泡玛特发展的关键因素。我们在全球范围内挖掘极具潜力的潮流艺术家和设计师，通过成熟的IP运营体系，打造出备受欢迎的潮流文化IP形象。同时，我们不断加强产品的设计创新，丰富产品品类，以满足不同粉丝群体的需求，为全世界的消费者带来更多快乐。BUSINESS REVIEWIn 2023, with the effective implementation of a series of policies to expanddomestic demand and promote consumption, residents’consumptiondemand was released at a faster pace, and the foundation for the recoveryof the consumer market was constantly consolidated as well. Meanwhile,residents’desire to travel has increased, driving a sound developmentof offline commerce. As the national economy continues to recover, theexpansion momentum of the consumer market was further consolidated andenhanced.Based on the unremitting efforts of various departments of the Company,with our outstanding operational capabilities and creativity, we havelaunched several new product series that gained popularity amongconsumers and achieved excellent sales performance while providing qualityservices to consumers.During the reporting period, we recorded a revenue of RMB6,301.0 million,representing a year-on-year increase of 36.5%. Through continuous expansionof the international market and in-depth promotion of localized operation,our business in Hong Kong, Macao, Taiwan and overseas maintained a rapiddevelopment, with the revenue reaching RMB1,066.1 million, representing ayear-on-year increase of 134.9% and accounting for 16.9% of our revenue.IP Incubation and OperationIP operation and creative designs are the key factors to promote ourdevelopment. We explored highly-potential pop artists and designersworldwide and created popular pop culture IP images through well-established IP operation system. At the same time, we continued tostrengthen innovation in product designs and diversify product categoriesto meet the needs of different fan groups and create more happiness forconsumers around the world.
二零二三年年报ANNUAL REPORT 202311MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析IP矩阵持续扩容，呈现出丰富的态势，2023年销售额过亿的艺术家IP达到10个。SKULLPANDA、MOLLY和DIMOO在2023年分别实现收入人民币1,024.8百万元、人民币1,020.3百万元和人民币737.7百万元，SKULLPANDA持续探索，不断突破风格的边界，实现20.3%的同比增长，其中SKULLPANDA第八个系列《温度》，截至2023年12月31日单系列本年销售额达到人民币313.8百万元；MOLLY持续展现蓬勃的生命力，通过多样性的商业化运营，相关收入依然实现27.2%的同比增长；通过多样化的产品品类设计和创新的呈现形式，THE MONSTERS的形象变得更生动鲜活，其个性也更丰满，从而受到了更多粉丝的喜爱，相关收入实现39.9%的同比增长。我们内部设计师团队PDC (Pop Design Center)推出的多个IP在2023年同样表现亮眼。小野通过设计语言触发粉丝的情感共鸣，2023年收入同比增长149.5%，此外，小甜豆、PINO JELLY及Zsiga等也受到了市场的欢迎和认可。我们不断地探索和扩大授权IP的范围，推出各种不同类型和风格的潮玩手办、联名款产品，以满足不同消费者的需求和兴趣。通过与动漫、游戏、电影等多种版权方的合作，为粉丝们带来更多选择和惊喜，同时我们持续扩大IP授权地域，目前已获得大多数授权IP的全球授权，为全球消费者带来更独特的潮玩体验。Our IP matrix continued to expand, showing a trend of diversity. In 2023,10 artist IPs recorded sales of over RMB100 million. Revenue generatedfrom SKULLPANDA, MOLLY and DIMOO amounted to RMB1,024.8 million,RMB1,020.3 million and RMB737.7 million in 2023, respectively. SKULLPANDAcontinuously explored and looked for breakthroughs in styles, achieving20.3% year-on-year growth in related revenue. Specifically, the sales of“Temperature”, the eighth series of SKULLPANDA, reached RMB313.8 millionfor the year ended 31 December 2023. Moreover, MOLLY continued to showstrong vitality and still achieved a year-on-year increase of 27.2% in relatedrevenue through diverse commercialization operations. Through diversifieddesigns for different product categories and innovative presentation forms,the image of THE MONSTERS has become more vibrant and vivid, while alsodemonstrating more enriched personalities, which in turn has been wellreceived by more fans, contributing to a year-on-year growth of 39.9% inrelated revenue.Several IPs launched by our in-house design team PDC (Pop Design Center)also recorded an outstanding performance in 2023. Hirono triggeredemotional empathy among fans through design language, representing ayear-on-year increase of 149.5% in revenue in 2023. Moreover, Sweet Bean,PINO JELLY, Zsiga and other IPs were also well received and recognized bythe market.We continued to explore and expand the scope of Licensed IPs by launchinga series of pop garage kits and co-branded products in different types anddiversified styles to meet the needs and interests of different consumers.Through cooperation with various copyright owners of anime, games andmovies, we brought more choices and surprises to our fans. At the sametime, we continued to expand the territories of IP licensing, and alreadyobtained global licenses for most of our Licensed IPs, bringing a more uniquepop toy experience to consumers around the world.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司12MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析作为我们推动「潮玩艺术化」而打造的高端产品线，MEGA COLLECTION兼具时尚感与内容深度的艺术表达，今年是我们推出MEGACOLLECTION的第三年，品牌运营逐渐进入成熟阶段。年初，Grand系列推出的首款陶瓷材质潮玩MEGA SPACE MOLLY 1000%炉火纯青•燃，受到跨圈层消费者的广泛关注。此外，与CLOT、兰博基尼等不同领域顶级品牌的合作，也挖掘了MEGA COLLECTION的多元可能。2023年，MEGA珍藏系列共实现收入人民币681.5百万元。在持续推出有创意的设计的同时，我们不断在产品层面尝试创新，丰富产品品类。在潮玩手办之外，我们也在持续开发更多新的品类，希望能更生动地展示IP的形象和内涵。搪胶毛绒产品作为我们在2023年推出的爆款产品品类，不仅贡献了不菲的业绩，还通过深挖IP内核、开发多元产品模式和创新玩法，增强了粉丝对IP的黏性。泡泡萌粒以我们旗下众多IP的Q版形象为设计灵感，上市伊始就以软萌多变的产品造型和丰富多样的互动玩法深受消费者喜爱。萌粒诞生至今已发售十余款系列产品，围绕装罐、盲袋及吊卡等多样的产品形式，在丰富IP的产品形式的同时也为消费者带来更多有趣的消费体验。As a high-end production line created because of our promotion of“pop toyas art”, the MEGA COLLECTION is characterized by both fashion and a deepsense of artistic expression. 2023 is the third year since we launched MEGACOLLECTION, and the brand operation has gradually entered a mature stage.In the beginning of the year, the first ceramic material pop garage kits“MEGASPACE MOLLY 1000% Lu Huo Chun Qing • Ran”(MEGA SPACE MOLLY 1000%炉火纯青•燃) launched by the Grand series has received extensive attentionacross consumers from different social networks. In addition, the cooperationwith top brands in different fields such as CLOT and Lamborghini has alsotapped the diverse possibilities of MEGA COLLECTION. In 2023, revenue ofthe MEGA Collection Series amounted to RMB681.5 million.We continued innovation in products and enriched our categories whilecontinuously launching creative items. Apart from pop figures, we madecontinuous efforts in developing new categories with an aim to demonstrateimages and connotation of IPs in a more vivid way.As our product category in vogue launched in 2023, the rotocasting plushdolls not only contributed abundant revenue, but also enhanced thestickiness of fans to IPs by exploring the cores of IPs, developing diverseproduct models and innovative gameplay.POP BEAN draws inspiration from the Q version images of many IPs underour brand. Since its launch, it has been well-received by consumers for itscute and changeable product designs and rich variety of interaction. Since itsinception, POP BEAN has released more than ten series of products, includingvarious forms such as canned products, blind bags and hanging cards. Whileenriching the product forms of IPs, it also brings consumers more interestingconsumption experiences.
二零二三年年报ANNUAL REPORT 202313MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析消费者触达－线下渠道2023年，我们于中国内地新开55家线下门店，门店数量从截至2022年12月31日的329家增至截至2023年12月31日的363家1。2023年我们于中国内地新开业123家机器人商店，机器人商店数量从截至2022年12月31日的2,067家增至截至2023年12月31日的2,190家。－线上渠道泡泡玛特抽盒机是我们在微信平台上自主研发设计的小程序，旨在创造好玩、有趣、便捷的购物体验，抽盒机于2023年实现了人民币729.3百万元的收入。天猫旗舰店2023年收入为人民币322.0百万元。我们的内容电商团队深入挖掘IP特点和系列特色，打造了多个自营直播间，并在抖音平台上持续输出优质直播内容。这一系列举措不仅成功吸引了大量粉丝，还推广了更多生活场景相关的商品，取得了出色的销售成绩。抖音平台2023年收入为人民币283.3百万元，同比增长了431.2%。－会员运营随著渠道的持续扩张及IP的不断丰富，并通过全渠道会员运营，用户数字化规模快速扩大，截至2023年12月31日，中国内地累计注册会员总数从2022年12月31日的2,600.4万人增至3,435.4万人，新增注册会员835.0万人。2023年会员贡献销售额占比92.1%，会员复购率为50.0%2。12023年，因租约到期和其他商业原因，我们关闭了21家门店。22023年，会员中购买过2次或以上的占比。Consumer Access– Offline channelsIn 2023, we opened 55 new physical stores in Mainland China. Thenumber of physical stores increased from 329 as of 31 December 2022to 3631as of 31 December 2023. In 2023, we opened 123 roboshops inMainland China. The number of roboshops increased from 2,067 as of 31December 2022 to 2,190 as of 31 December 2023.– Online channelsPop Draw is a mini program independently invented and developedby us on WeChat platform, aiming to create fun, interesting andconvenient shopping experience. In 2023, revenue from Pop Drawamounted to RMB729.3 million. In 2023, the revenue of Tmall Flagshipstores amounted to RMB322.0 million. Our content-related e-commerceteam continuously outputs high-quality live content on DouYin basedon the characteristics of the IP and series by organizing a number ofself-operated live streams. Such methods not only attracted a largenumber of fans, but also promoted more life scenes of merchandize andachieved excellent sales performance. In 2023, the revenue of DouYinamounted to RMB283.3 million, representing a year-on-year increase of431.2%.– Member operationWith continuous channel expansion and IPs portfolio enhancement,through omni-channel member operation, the scale of user digitalizationgrew rapidly. As of 31 December 2023, the total number of registeredmembers in Mainland China increased from 26.0 million as at 31December 2022 to 34.4 million. In particular, there were 8.4 million newregistered members. In 2023, the sales contributed by our membersrepresented 92.1% of total sales, with repeat purchase rate of ourmembers of 50.0%2.1In 2023, due to lease expiration and other commercial reasons, we closed 21stores.2Representing the proportion of members who made purchase for twice or morein 2023.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司14MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析－港澳台及海外渠道我们港澳台及海外业务持续推进DTC (DirectTo Customer)的发展战略。截至2023年12月31日，我们的港澳台及海外门店达到80家（含合营），机器人商店达到159台（含合营及加盟）。2023年，我们在法国、马来西亚、泰国以及荷兰开设了首家线下门店，并于12月份在中国台湾西门町开设了全球第三家旗舰店，首日销售额刷新全球门店纪录。通过不断开拓线下和线上的销售渠道，我们的品牌和产品在全球范围内获得了更广泛的认可和喜爱。主题乐园与IP体验及创新业务孵化我们建立了多产业链的IP商业化体系，持续加深粉丝与IP的情感连接，探索IP在价值实现路径上更多的可能性。2023年9月，泡泡玛特城市乐园落地北京朝阳公园，成为潮玩行业首个沉浸式IP主题乐园。在乐园不仅可以体验IP场景中的沉浸游玩、与泡泡明星朋友亲密互动，还可以尽享可爱美味的IP主题餐饮、将乐园专属纪念品收入囊中。不仅为更广阔圈层的游客带来了快乐体验与美好回忆，也吸引着泡泡玛特粉丝前来游玩。乐园的落地增加了泡泡玛特及众多IP与用户加深情感连接的渠道。公司推动了旗下IP与其他知名IP、品牌开展授权或联名合作，在多个国家和地区举办潮流玩具展及IP主题展览，不断扩大旗下IP在全球的影响力。– Hong Kong, Macao, Taiwan and overseas channelsThe implementation of our DTC (Direct To Customer) strategy forHong Kong, Macao, Taiwan and overseas business continued. As of31 December 2023, the number of our physical stores in Hong Kong,Macao, Taiwan and overseas was 80 (including those operated by jointventure), and the number of roboshops reached 159 (including thoseoperated by joint venture and roboshop partners). In 2023, we openedour first physical stores in France, Malaysia, Thailand and Netherlands,and also opened our third flagship store in Ximending, Taiwan, the PRCin December and set a new global store record for sales on the first day.With the continuous expansion of offline and online channels, the PopMart’s brand and products received increasing recognition and favoraround the world.Theme Park and IP Experience and Innovative BusinessIncubationWe have established an IP commercialization system with a multi-industrychain, continuously deepening the emotional connection between fans andIPs, and exploring the potential of realizing the value of IP.In September 2023, POP LAND landed in Chaoyang Park in Beijing, becomingthe first immersive IP-themed park in the pop toy industry. In POP LAND,not only can the visitors experience immersive play in IP scenes and interactclosely with Pop stars, but they can also enjoy cute and delicious IP-themeddining, and get exclusive park souvenirs. While providing happy experiencesand beautiful memories to a wider range of visitors, POP LAND also attractsfans of Pop Mart, making it a channel for deeper emotional connectionbetween Pop Mart and IPs and users.The Company has promoted the cooperation with other well-known IPsand brands in the licensing or co-branding of its IPs, and organized poptoy shows and IP-themed exhibitions in various countries and regions tocontinuously expand the influence of its IPs in the world.
二零二三年年报ANNUAL REPORT 202315MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析2023年9月8日至10日，我们在新加坡举办了首届海外大型潮玩展，本次潮玩展三天累计共有超过2万观众入场参观，展示了来自世界各地的90多名风格各异的艺术家的作品。这次展会为东南亚的潮玩粉丝打开了一扇大门，让粉丝能够接触到他们喜欢的潮玩IP，以及富有想象力的创作者。时隔三年的上海国际潮流玩具展，于2023年9月份重回线下，展会吸引了全球近400个潮玩品牌及近百位海内外艺术家集体亮相。国际潮流玩具展(PTS)向全球消费者深入展示IP魅力，并吸引更多海外艺术家和品牌与我们进行合作，深入推动潮玩文化的全球发展。我们依托自身强大的艺术家发掘能力及市场号召力，推动着更多潮玩艺术家走向大众视野，为消费者带来了更优质的体验。2023年，我们在中国内地举办商场主题展31场、艺术家签售会24场，为IP创作者和粉丝搭建了互动平台，进一步推动了潮流玩具文化的蓬勃发展。以及inner flow作为公司旗下的当代艺术机构，目前已与近百位国内外优秀艺术家进行合作，在全国各城市举办超10场展览。2023年下半年innerflow Gallery在北京798艺术园区顺利开幕，获得了行业的广泛关注与好评。Between 8 and 10 September 2023, we organized the first large-scaleoverseas pop toy show in Singapore. During three days of this pop toy show,a total of more than 20,000 visitors were received and the works of over 90artists from all over the world with different styles were displayed. This showhas opened the door for trendy fans from Southeast Asia, enabling themto contact the pop toy IPs they like and imaginative creators. The ShanghaiInternational Trendy Toy Fair returned to offline in September 2023 afterthree years, attracting nearly 400 trendy toy brands around the world andnearly 100 domestic and overseas artists. The POP TOY SHOW (PTS) hascomprehensively showed the charm of IPs to global consumers, attractedmore overseas artists and brands to cooperate with us and further promotedthe global development of pop toy culture.Leveraging on our excellent capability of artists development and powerfulmarket appeal, we promote more trendy artists to the public and bringbetter experience to consumers. In 2023, we held 31 themed exhibitionsin shopping malls and 24 artists’signing meetings in Mainland China,which established interactive platforms for IP creators and fans and furtherpromoted the blooming of pop toy culture. In addition, as a contemporaryart institution of the Company, inner flow has cooperated with nearly100 outstanding domestic and overseas artists in holding more than 10exhibitions in various cities across the country. In the second half of 2023,inner flow Gallery was successfully opened in Beijing 798 Art Park, receivingwide attention and praise from the industry.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司16MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析财务回顾销售收入本公司收入从2022年的人民币4,617.3百万元上升到2023年的人民币6,301.0百万元，同比增长36.5%。根据渠道划分的收入本公司的收入来自于中国内地和港澳台及海外包括：1.线下渠道；2.线上渠道；及3.批发渠道及其他。下表载列本公司2023年及2022年的按渠道划分的收入：FINANCIAL REVIEWSales RevenueRevenue of the Company increased from RMB4,617.3 million in 2022 toRMB6,301.0 million in 2023, representing a year-on-year increase of 36.5%.Revenue by channelsRevenue of the Company is generated in Mainland China and Hong Kong,Macao, Taiwan and overseas, including: 1. offline channels; 2. online channels;and 3. wholesales channels and others. The following table sets out theCompany’s revenue by channels in 2023 and 2022:For the year ended 31 December 2023For the year ended 31 December 2022截至2023年12月31日止年度截至2022年12月31日止年度RevenueGrossprofitmarginProportionof revenueRevenueGrossprofitmarginProportionof revenue收入毛利率收入占比收入毛利率收入占比RMB’000RMB’000人民币千元人民币千元Mainland China中国内地Offline channels线下渠道3,027,81563.0%48.1%2,069,94260.7%44.8%Online channels线上渠道1,710,46960.5%27.1%1,829,80957.8%39.6%Wholesales and others批发及其他496,61746.7%7.9%263,63535.6%5.8%Total合计5,234,90160.6%83.1%4,163,38657.8%90.2%Hong Kong, Macao, Taiwan and overseas港澳台及海外Offline channels线下渠道640,28774.4%10.1%150,76873.4%3.2%Online channels线上渠道155,80573.5%2.5%90,22474.5%2.0%Wholesales and others批发及其他270,00937.6%4.3%212,94632.6%4.6%Total合计1,066,10164.9%16.9%453,93854.5%9.8%Grand total总计6,301,00261.3%100.0%4,617,32457.5%100.0%
二零二三年年报ANNUAL REPORT 202317MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析(1) Mainland China–Offline channels.Revenue from offline sales increased by 46.3%from RMB2,069.9 million in 2022 to RMB3,027.8 million in 2023. Thetable below sets forth a breakdown of revenue from offline salesand the city tier:For the year ended31 December 2023For the year ended31 December 2022截至2023年12月31日止年度截至2022年12月31日止年度RevenueProportionof revenueRevenueProportionof revenueChange收入收入占比收入收入占比变动RMB’000RMB’000人民币千元人民币千元Retail stores零售店2,479,24381.9%1,691,11281.7%46.6%Roboshops机器人商店548,57218.1%378,83018.3%44.8%Total合计3,027,815100.0%2,069,942100.0%46.3%Retail storesRoboshops零售店机器人商店For the year ended 31 DecemberFor the year ended 31 December截至12月31日止年度截至12月31日止年度20232022202320222023年2022年2023年2022年NumberRevenueNumberRevenueNumberRevenueNumberRevenueCity tier城市等级数量收入数量收入数量收入数量收入(RMB’000)(RMB’000)(RMB’000)(RMB’000)（人民币千元）（人民币千元）（人民币千元）（人民币千元）First-tier cities3一线城市31201,019,936123684,944592146,735559100,293New first-tier cities4新一线城市4105685,31695490,952672173,346634118,727Second-tier and other cities5二线及其他城市5138773,991111515,216926228,491874159,810Total合计3632,479,2433291,691,1122,190548,5722,067378,8303Refer to first-tier cities in Mainland China, including Beijing, Shanghai, Guangzhouand Shenzhen4Refer to new first-tier cities in Mainland China, including Chengdu, Chongqing,Hangzhou, Wuhan, Xi’an, Zhengzhou, Qingdao, Changsha, Tianjin, Suzhou,Nanjing, Dongguan, Shenyang, Hefei and Foshan5Refer to cities other than first-tier cities and new first-tier cities in Mainland China3指中国内地一线城市，包括北京、上海、广州和深圳4指中国内地新一线城市，包括成都、重庆、杭州、武汉、西安、郑州、青岛、长沙、天津、苏州、南京、东莞、沈阳、合肥和佛山5指中国内地除去一线城市和新一线城市以外的城市(1)中国内地－线下渠道。线下收入由2022年的人民币2,069.9百万元增长到2023年的人民币3,027.8百万元，增长了46.3%，以下为线下收入明细和城市分布：
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司18MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析零售店。零售店销售收入从2022年的人民币1,691.1百万元增加到2023年的人民币2,479.2百万元，同比增长了46.6%。2023年中国内地店舖开设情况：截至2023年12月31日比截至2022年12月31日的零售店数量增加了34家，截至2023年12月31日合计零售店363家。机器人商店。机器人商店销售收入从2022年的人民币378.8百万元增加到2023年的人民币548.6百万元，同比增长了44.8%。2023年中国内地机器人商店开设情况：截至2023年12月31日比截至2022年12月31日的机器人商店数量增加了123间，截至2023年12月31日合计机器人商店2,190间。－线上渠道。线上收入由2022年的人民币1,829.8百万元下降到2023年的人民币1,710.5百万元，下降了6.5%。以下为线上收入明细。Retail stores. Revenue from retail store sales increased by 46.6%year-on-year from RMB1,691.1 million in 2022 to RMB2,479.2 millionin 2023. The status of retail stores of the Mainland China in 2023: asof 31 December 2023, the number of retail stores increased by 34as compared to 31 December 2022. As of 31 December 2023, therewere a total of 363 retail stores.Roboshops. Revenue from roboshop sales increased by 44.8%year-on-year from RMB378.8 million in 2022 to RMB548.6 million in2023. The status of roboshops of the Mainland China in 2023: as of31 December 2023, the number of roboshops increased by 123 ascompared to 31 December 2022. As of 31 December 2023, therewere a total of 2,190 roboshops.–Online channels. Revenue from online sales decreased by 6.5%from RMB1,829.8 million in 2022 to RMB1,710.5 million in 2023. Thetable below sets forth a breakdown of revenue from online sales.For the year ended31 December 2023For the year ended31 December 2022截至2023年12月31日止年度截至2022年12月31日止年度RevenueProportionof revenueRevenueProportionof revenueIncrease收入收入占比收入收入占比变动(RMB’000)(RMB’000)人民币千元人民币千元Pop Draw泡泡玛特抽盒机729,28042.6%954,67852.2%-23.6%Tmall flagship store天猫旗舰店321,96618.8%462,39425.3%-30.4%DouYin抖音平台283,31816.6%53,3312.9%431.2%Other online channels其他线上渠道375,90522.0%359,40619.6%4.6%Total合计1,710,469100.0%1,829,809100.0%-6.5%
二零二三年年报ANNUAL REPORT 202319MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析中国内地线上收入包括泡泡玛特抽盒机、天猫旗舰店、抖音平台以及其他线上渠道。其中，泡泡玛特抽盒机从2022年的人民币954.7百万元下降至2023年的人民币729.3百万元，下降了23.6%；天猫旗舰店收入从2022年的人民币462.4百万元下降至2023年的人民币322.0百万元，下降了30.4%；抖音平台从2022年的人民币53.3百万元增长到2023年的人民币283.3百万元，增长了431.2%。－批发及其他。批发及其他收入从2022年的人民币263.6百万元增长到2023年的496.6百万元，增长了88.4%，主要由于(1)向经销商的销售增长；及(2)泡泡玛特城市乐园于2023年9月开业带来的收入增加。(2)港澳台及海外－线下渠道。线下收入由2022年的人民币150.8百万元上升到2023年的人民币640.3百万元，增长了324.7%。Online revenue sources in Mainland China include Pop Draw, Tmallflagship store, DouYin and other online channels. In particular,revenue from Pop Draw decreased by 23.6% from RMB954.7million in 2022 to RMB729.3 million in 2023; revenue from Tmallflagship store decreased by 30.4% from RMB462.4 million in 2022to RMB322.0 million in 2023; revenue from DouYin increased by431.2% from RMB53.3 million in 2022 to RMB283.3 million in 2023.–Wholesales and others.Revenue from wholesales and othersincreased by 88.4% from RMB263.6 million in 2022 to RMB496.6million in 2023, primarily due to (1) the increase in sales towholesalers; and (2) the increase in revenue generated from POPLAND since its opening in September 2023.(2) Hong Kong, Macao, Taiwan and Overseas–Offline channels. Revenue from offline sales increased by 324.7%from RMB150.8 million in 2022 to RMB640.3 million in 2023.For the year ended31 December 2023For the year ended31 December 2022截至2023年12月31日止年度截至2022年12月31日止年度RevenueProportionof revenueRevenueProportionof revenueChange收入收入占比收入收入占比变动RMB’000RMB’000人民币千元人民币千元Retail stores零售店582,90991.0%135,55989.9%330.0%Roboshops机器人商店57,3789.0%15,20910.1%277.3%Total合计640,287100.0%150,768100.0%324.7%
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司20MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析零售店。零售店销售收入从2022年的人民币135.6百万元增长到2023年的人民币582.9百万元，同比增长了330.0%。2023年港澳台及海外店舖开设情况：截至2023年12月31日比截至2022年12月31日的零售店数量增加了42家，截至2023年12月31日合计零售店70家。机器人商店。机器人商店销售收入从2022年的人民币15.2百万元增长到2023年的人民币57.4百万元，同比增长了277.3%。2023年港澳台及海外机器人开设情况：截至2023年12月31日比截至2022年12月31日的机器人商店数量增加了50间，截至2023年12月31日合计机器人商店99间。－线上渠道。线上收入由2022年的人民币90.2百万元增长到2023年的人民币155.8百万元，增长了72.7%。以下为线上收入明细。Retail stores.Revenue from retail store sales increased by 330.0%year on year from RMB135.6 million in 2022 to RMB582.9 million in2023. The status of retail stores of Hong Kong, Macao, Taiwan andoverseas in 2023: as of 31 December 2023, the number of retailstores increased by 42 as compared to 31 December 2022. As of 31December 2023, there were a total of 70 retail stores.Roboshops.Revenue from roboshop sales increased by 277.3%year on year from RMB15.2 million in 2022 to RMB57.4 millionin 2023. The status of roboshops of Hong Kong, Macao, Taiwanand overseas in 2023: as of 31 December 2023, the number ofroboshops increased by 50 as compared to 31 December 2022. Asof 31 December 2023, there were a total of 99 roboshops.–Online channels. Revenue from online sales increased by 72.7%from RMB90.2 million in 2022 to RMB155.8 million in 2023. The tablebelow sets forth a breakdown of revenue from online sales.For the year ended31 December 2023For the year ended31 December 2022截至2023年12月31日止年度截至2022年12月31日止年度RevenueProportionof revenueRevenueProportionof revenueIncrease收入收入占比收入收入占比变动RMB’000RMB’000人民币千元人民币千元ShopeeShopee42,88527.5%25,18627.9%70.3%Pop Mart official website泡泡玛特官方网站39,47925.4%27,06130.0%45.9%Other online channels其他线上渠道73,44147.1%37,97742.1%93.4%Total合计155,805100.0%90,224100.0%72.7%
二零二三年年报ANNUAL REPORT 202321MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析港澳台及海外线上收入包括Shopee、泡泡玛特官方网站和其他线上渠道。Shopee收入从2022年的人民币25.2百万元增长到2023年的人民币42.9百万元，增长了70.3%；泡泡玛特官方网站收入从2022年的人民币27.1百万元增长到2023年的人民币39.5百万元，增长了45.9%。主要由于我们开始深耕港澳台及海外的业务，快速提升区域品牌建设，以当地市场文化差异化为根基推出当地限定产品等。－批发及其他。港澳台及海外批发及其他收入从2022年的人民币212.9百万元增长至2023年的270.0百万元，增长了26.8%。主要为港澳台及海外业务规模的扩张，结合IP和产品种类的多样化，品牌和IP的知名度在提升，受众群体也在增加。Online revenue sources in Hong Kong, Macao, Taiwan and overseasinclude Shopee, Pop Mart official website and other onlinechannels. Revenue from Shopee increased by 70.3% from RMB25.2million in 2022 to RMB42.9 million in 2023. Revenue from Pop Martofficial website increased by 45.9% from RMB27.1 million in 2022to RMB39.5 million in 2023, primarily because we have refined ouroperation in Hong Kong, Macao, Taiwan and overseas throughthe rapid promotion in regional brand building and the launch oflocal limited products based on the differentiation of local marketculture.–Wholesales and others.Revenue from wholesales and others inHong Kong, Macao, Taiwan and overseas increased by 26.8% fromRMB212.9 million in 2022 to RMB270.0 million in 2023, primarily dueto the expansion of business scale in Hong Kong, Macao, Taiwanand overseas, combined with the diversification of IPs and productcategories, which increased the popularity of brands and IPs, as wellas the number of target customers.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司22MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析根据IP划分的收入泡泡玛特的自主产品是我们的主要商品类型，自主产品收入于截至2023年12月31日止年度占总收入的比例达到93.0%，自主产品从2022年的人民币4,190.0百万元增长到2023年的人民币5,858.0百万元，增长了39.8%。泡泡玛特的自主产品主要分为：艺术家IP和授权IP6，以下为根据IP划分的收入明细。6为更直观的反映艺术家原创IP及外部授权经典IP相关自主产品的收入贡献，本公司已重新划分IP分类方法，艺术家IP包括原自有IP及独家IP，授权IP则为非独家IP。Revenue by IPsPop Mart proprietary products are our major product type. During the yearended 31 December 2023, revenue from proprietary products contributed93.0% of our total revenue. Revenue from proprietary products increased by39.8% from RMB4,190.0 million in 2022 to RMB5,858.0 million in 2023.Proprietary products of Pop Mart are mainly divided into: artist IPs andlicensed IPs6, and below sets forth a breakdown of revenue by IPs.For the year ended 31 December截至12月31日止年度202320222023年2022年RevenueProportionof revenueRevenueProportionof revenue收入收入占比收入收入占比RMB’000RMB’000人民币千元人民币千元Proprietary products自主产品5,857,95793.0%4,189,97190.8%Artist IPs艺术家IP4,822,22676.5%3,639,70578.9%SKULLPANDA SKULLPANDA1,024,78816.3%851,61118.4%MOLLY MOLLY1,020,30516.2%802,15517.4%DIMOO DIMOO737,66611.7%577,94812.5%THE MONSTERS THE MONSTERS367,8715.8%263,0025.7%HIRONO小野351,2015.6%140,7683.1%Sweet Bean小甜豆203,6143.2%147,9403.2%PINO JELLY PINO JELLY158,0742.5%76,8701.7%HACIPUPU HACIPUPU151,7582.4%42,7970.9%Other artist IPs其他艺术家IP806,94912.8%736,61416.0%Licensed IPs授权IP1,035,73116.5%550,26611.9%External procurement and others外采及其他443,0457.0%427,3539.2%Total合计6,301,002100.0%4,617,324100.0%6In order to more intuitively reflect the revenue contribution of proprietaryproducts from artists’original IPs and externally licensed classic IPs, the Companyhas reclassified the IPs classification method. Artist IPs include original proprietaryIPs and exclusive IPs, while licensed IPs are non-exclusive IPs.
二零二三年年报ANNUAL REPORT 202323MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析－艺术家IP。艺术家IP产品是本公司主要商品类型，主要包括SKULLPANDA、MOLLY、DIMOO、THE MONSTERS等。艺术家IP产品收入从2022年的人民币3,639.7百万元，上升至2023年的人民币4,822.2百万元，增长了32.5%，主要由于我们不断创新产品设计、丰富商品类型，推出更多受消费者喜爱的产品。－授权IP。授权IP产品收入从2022年的人民币550.3百万元，增长至2023年的人民币1,035.7百万元，增长了88.2%，主要由于我们不断加深与更多版权方的合作，推出了更多风格、种类的产品。销售成本销售成本由2022年的人民币1,962.8百万元上升到2023年的人民币2,436.9百万元，增长了24.2%，主要由于(1)商品成本由2022年的人民币1,693.5百万元增加到2023年的人民币2,042.7百万元，其主要原因为销售增长；及(2)设计及授权成本由2022年的人民币159.7百万元增加到2023年的人民币236.6百万元，主要由于自主产品占比增多，以及联名产品增加，需要支付更多的IP授权费以及产品设计费。–Artist IPs.Artist IPs are the major product type of the Company,primarily including SKULLPANDA, MOLLY, DIMOO and THE MONSTERSand other IPs. Revenue from artist IPs increased by 32.5% fromRMB3,639.7 million in 2022 to RMB4,822.2 million in 2023, primarily dueto the fact that we continued to innovate our product design and enrichour product types to launch more products that are popular amongconsumers.–Licensed IPs.Revenue from licensed IPs increased by 88.2% fromRMB550.3 million in 2022 to RMB1,035.7 million in 2023, primarily dueto the fact that we continuously deepened our cooperation with morecopyright owners to launch more styles and types of products.Costs of SalesOur costs of sales increased by 24.2% from RMB1,962.8 million in 2022 toRMB2,436.9 million in 2023, primarily due to (1) the increase in costs of goodsfrom RMB1,693.5 million in 2022 to RMB2,042.7 million in 2023, which wasmainly due to the increase in sales; and (2) the increase in costs of design andlicense from RMB159.7 million in 2022 to RMB236.6 million in 2023, whichwas mainly due to more IP licensing fees and product design fees as a resultof the increase in the proportion of our proprietary products and the increasein co-branded products.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司24MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析毛利我们的毛利由截至2022年的人民币2,654.5百万元增长到2023年的人民币3,864.1百万元，增长了45.6%，主要由于我们的收入增长以及销售成本的控制。我们的毛利率由2022年的57.5%提升至2023年的61.3%，主要由于自主产品的毛利率增长。泡泡玛特自主产品产生的毛利由2022年的人民币2,518.2百万元增长到2023年的人民币3,716.2百万元，增长了47.6%。主要由于泡泡玛特自主产品的销售收入增加。自主产品的毛利率从2022年的59.7%，增长到2023年的63.4%，主要由于(1)优化了产品设计，加大了原材料供应商的成本管控；及(2)增强主要类别商品的供应商集中采购，提升对供应商的议价能力，保持供应商价格体系稳定。我们的外采和其他产品产生的毛利由2022年的人民币136.4百万元增长到2023年的人民币147.9百万元。经销及销售开支我们的经销及销售开支由2022年的人民币1,470.8百万元增长至2023年的人民币2,004.7百万元，增长了36.3%；其中(1)雇员福利开支；及(2)使用权资产折旧占比较高。－雇员福利开支。雇员福利开支从2022年的人民币394.0百万元增长至2023年的人民币598.5百万元，增长了51.9%。主要由于我们的销售员工人数由截至2022年12月31日的3,171名员工（由于公司结构调整，该数据经重新划分及统计）增加到截至2023年12月31日的3,735名员工，主要用以支持我们扩张零售店及机器人商店网络。Gross ProfitOur gross profit increased by 45.6% from RMB2,654.5 million in 2022 toRMB3,864.1 million in 2023, primarily due to the increase in revenue and thecontrol of cost of sales. Our gross profit margin increased from 57.5% in 2022to 61.3% in 2023, primarily due to the increase in gross profit margin of ourproprietary products.Gross profit from Pop Mart proprietary products increase by 47.6% fromRMB2,518.2 million in 2022 to RMB3,716.2 million in 2023, primarily due tothe increase in revenue of sales from our Pop Mart proprietary products.Gross profit margin of proprietary products increased from 59.7% in 2022 to63.4% in 2023, primarily due to the fact that (1) we optimized our productdesign and improved the cost control of raw material suppliers; and (2)we enhanced the centralized procurement of suppliers of major productcategories, increased our bargaining power with suppliers and maintainedthe stability of the suppliers’pricing system.Gross profit from external procurement and other products increased fromRMB136.4 million in 2022 to RMB147.9 million in 2023.Distribution and Selling ExpensesOur distribution and selling expenses increased by 36.3% from RMB1,470.8million in 2022 to RMB2,004.7 million in 2023, among which, (1) employeebenefit expenses; and (2) depreciation of right-of-use assets accounted forhigher proportions.–Employee benefit expenses.Our employee benefit expenses increasedby 51.9% from RMB394.0 million in 2022 to RMB598.5 million in 2023,primarily due to the increase in the number of sales personnel from3,171 (due to structural adjustment of the Company, such figure wasreclassified and recalculated) as of 31 December 2022 to 3,735 as of 31December 2023, primarily for supporting the expansion of our retailstores and roboshop network.
二零二三年年报ANNUAL REPORT 202325MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析－使用权资产折旧。使用权资产折旧从2022年的人民币269.3百万元增长至2023年的人民币304.9百万元，增长了13.2%。主要由于线下零售店数量数量较截至2022年12月31日增加了76间，来满足我们中国内地和港澳台及海外的业务扩张。一般及行政开支我们的一般及行政开支由2022年的人民币686.3百万元增长至2023年的人民币707.3百万元，增长了3.1%。其中占比较高的为雇员福利开支，我们的行政员工及设计开发人员由2022年12月31日的1,007名（由于公司结构调整，该数据经重新划分及统计）增加到截至2023年12月31日的1,110名员工。其他收入本公司的其他收入由2022年的人民币45.6百万元增长至2023年的人民币74.9百万元，增长了64.4%。其中政府补助由2022年的人民币11.6百万元增长至2023年的人民币30.9百万元。经营溢利综上所述，本公司的经营溢利由2022年的人民币583.4百万元增长至2023年的人民币1,230.6百万元，增长了111.0%。财务收入净额我们的财务收入净额由2022年的人民币29.1百万元，增长到2023年的人民币151.9百万元，主要由于我们的利息收入增加。–Depreciation of right-of-use assets.Our depreciation of right-of-useassets increased by 13.2% from RMB269.3 million in 2022 to RMB304.9million in 2023, mainly due to the increase in the number of offline retailoutlets by 76 compared to that as of 31 December 2022 to cater for ourbusiness expansion in Mainland China, Hong Kong, Macao and Taiwanand overseas.General and Administrative ExpensesOur general and administrative expenses increased by 3.1% from RMB686.3million in 2022 to RMB707.3 million in 2023. Among them, employeebenefit expenses accounted for higher proportions, and the number of ouradministrative and design development personnel increased from 1,007 (dueto structural adjustment of the Company, such figure was reclassified andrecalculated) as of 31 December 2022 to 1,110 as of 31 December 2023.Other IncomeThe other income of the Company increased by 64.4% from RMB45.6 millionin 2022 to RMB74.9 million in 2023. Among them, government grantsincreased from RMB11.6 million in 2022 to RMB30.9 million in 2023.Operating ProfitAs a result of the above, the Group’s operating profit increased by 111.0%from RMB583.4 million in 2022 to RMB1,230.6 million in 2023.Finance Income, NetOur finance income, net increased from RMB29.1 million in 2022 to RMB151.9million in 2023, primarily due to the increase in our interest income.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司26MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析Income Tax ExpenseOur income tax expense increased from RMB163.7 million in 2022 toRMB327.0 million in 2023 as a result of the increase in profit before incometax. Our effective tax rate dropped from 25.6% in 2022 to 23.1% in 2023.Profit for the YearAs a result of the above, our profit for the year increased from RMB475.8million in 2022 to RMB1,088.8 million in 2023.Non-IFRS Financial IndicatorsTo supplement our financial information which are presented in accordancewith IFRS Accounting Standards, we use non-IFRS adjusted net profit asan additional financial measure, which is not required by, or presented inaccordance with IFRS Accounting Standards. We believe that this non-IFRSmeasure facilitates comparisons of operating performance from period toperiod and company to company by eliminating potential impacts of itemsthat our management does not consider to be indicative of our operatingperformance. We believe that this measure provides useful informationto investors and others in understanding and evaluating our consolidatedresults of operations in the same manner as they help our management.However, our presentation of non-IFRS adjusted net profit may not becomparable to a similarly titled financial measure presented by othercompanies. The use of this non-IFRS measure has limitations as an analyticaltool, and investors should not consider it in isolation from, or as substitute foranalysis of, our results of operations or financial condition as reported underIFRS Accounting Standards.所得税开支我们的所得税开支由2022年的人民币163.7百万元增长至2023年的人民币327.0百万元，原因为我们的所得税前溢利增长。我们的实际税率由2022年的25.6%下降到2023年的23.1%。年内溢利由于上文所述，我们的年内溢利由2022年的人民币475.8百万元增长至2023年的人民币1,088.8百万元。非国际财务报告准则财务指标为补充我们根据国际财务报告会计准则呈列的财务资料，我们采用并非国际财务报告会计准则要求或并非按国际财务报告会计准则呈列的非国际财务报告准则经调整纯利，作为额外财务计量。我们认为该非国际财务报告准则计量通过免除管理层认为对我们经营表现没有指标作用的项目的潜在影响，有助于比较不同期间及不同公司的经营业绩。我们认为，该计量为投资者及其他人士提供了有用的资料，帮助彼等按其帮助管理层相同的方式了解及评估我们的综合经营表现。然而，我们对非国际财务报告准则经调整纯利的呈列可能与其他公司呈列的类似名称的财务计量不具有可比性。使用该非国际财务报告准则计量作为分析工具具有局限性，投资者不应单独考虑，或作为根据国际财务报告会计准则呈报的经营业绩或财务状况分析的替代。
二零二三年年报ANNUAL REPORT 202327MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析The non-IFRS adjusted net profit has not been calculated in accordancewith the IFRS Accounting Standards, thus it is deemed as non-IFRS financialindicator. The non-IFRS adjusted net profit refers to the net profit afterexcluding share based payment, while the non-IFRS adjusted net profitmargin refers to the non-IFRS adjusted net profit divided by revenue. Thefollowing table set out the reconciliation of non-IFRS financial indicators ofthe Company for the respective years.Year ended31 December 2023Year ended31 December 2022截至2023年12月31日止年度截至2022年12月31日止年度(RMB’000)(RMB’000)（人民币千元）（人民币千元）Profit for the year年内溢利1,088,771475,801Adjustments调整项目Share-based payment以股份为基础的付款报酬101,74897,739Non-IFRS adjusted net profit非国际财务报告准则经调整纯利1,190,519573,540Non-IFRS adjusted net profit margin非国际财务报告准则经调整纯利率18.9%12.4%The management is of the view that share-based payment expenses arenon-cash items, which do not directly reflect our business operation. Hence,through eliminating the effects of such items on calculation of non-IFRSadjusted net profit, relevant operating performance can be better reflected,and it would be more convenient to compare operating performance indifferent years.非国际财务报告准则经调整纯利未按照国际财务报告会计准则计算，因此视为非国际财务报告准则的财务指标，非国际财务报告准则经调整纯利指剔除以股份为基础的付款后的纯利，而非国际财务报告准则经调整纯利率指非国际财务报告准则经调整纯利除以收益。下表载列本公司各年度的非国际财务报告准则的财务指标对账情况。我们管理层认为以股份为基础的付款开支属于非现金项目且并无直接反应我们的业务营运。因此，通过撇除该等项目对计算非国际财务报告准则经调整纯利影响的举措，可更好地反应我们的相关经营表现，并更加便于比较逐年的经营表现。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司28MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析Current Assets, Financial Resources and Capital ExpendituresIn 2023, the Group adopted conservative and stable fund management andfinancial policies with regard to its overall business operations. The Groupmaintained the following resources to meet its working capital requirements:Current assets and current liabilitiesOur net current assets increased from RMB5,484.8 million as of 31 December2022 to RMB5,950.2 million as of 31 December 2023, which was basicallystable.Trade receivablesTrade receivables represent outstanding amounts receivable by us from ourcustomers in the ordinary course of business. Our trade receivables increasedfrom RMB194.4 million as of 31 December 2022 to RMB321.3 million as of 31December 2023. The increase was primarily due to the increase in receivablesfrom wholesales and other channels as a result of business expansion inHong Kong, Macao, Taiwan and overseas. Trade receivables turnover daysamounted to 15 days as of 31 December 2023, which was in line with that of2022.InventoriesOur inventories comprise finished goods. Our inventories increased fromRMB867.0 million as of 31 December 2022 to RMB904.7 million as of 31December 2023. The increase was primarily due to the increase in productinventories to meet with the sales demands. Inventory turnover daysdecreased from 156 days in 2022 to 133 days as of 31 December 2023.Cash and cash equivalentsOur cash and cash equivalents primarily comprise cash at bank. Cash andcash equivalents increased from RMB685.3 million as of 31 December 2022 toRMB2,077.9 million as of 31 December 2023, which was mainly due to (1) theincrease in cash flows from operating activities in 2023; and (2) the decreasein certain time deposits in 2023.流动资产、财务资源及资本开支2023年，本集团在整体业务经营方面采纳保守稳健的资金管理及财务政策。本集团维持以下资源以应付其营运资金需求：流动资产及流动负债我们的流动资产净值由截至2022年12月31日的人民币5,484.8百万元增加至截至2023年12月31日的人民币5,950.2百万元，基本维持稳定。贸易应收款项贸易应收款项指日常业务过程中我们应收客户的未结算款项。我们的贸易应收款项由截至2022年12月31日的人民币194.4百万元增加至截至2023年12月31日的人民币321.3百万元，该等增加主要由于港澳台及海外业务扩张，批发等渠道应收账款增加。截至2023年12月31日的贸易应收款项周转天数为15天，与2022年保持一致。存货我们的存货包括制成品。我们的存货由截至2022年12月31日的人民币867.0百万元增加至截至2023年12月31日的人民币904.7百万元。主要由于我们增加了我们的产品库存以满足销售需求。存货周转天数从2022年的156天下降到截至2023年12月31日的133天。现金及现金等价物我们的现金及现金等价物主要包括银行现金。现金及现金等价物从截至2022年12月31日的人民币685.3百万元增加至截至2023年12月31日的人民币2,077.9百万元，主要由于(1)2023年经营活动产生的现金流增加；及(2)2023年减少了部分定期存款。
二零二三年年报ANNUAL REPORT 202329MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析贸易应付款项贸易应付款项主要指我们在日常业务过程中向供应商支付货款的责任。贸易应付款项从截至2022年12月31日的人民币259.0百万元增加至截至2023年12月31日的人民币444.9百万元。贸易应付款项周转天数从2022年的49天增加至截至2023年12月31日的53天。银行借款截至2023年12月31日，我们的银行借款余额为人民币15.1百万元，为一家商业银行的短期银行贷款（2022年12月31日：无）。有关更多详情，请参阅综合财务报表附注34。资产抵押截至2023年12月31日本集团并无任何资产抵押（2022年12月31日：无）。资产负债率资产负债率为总负债除以总资产乘以100%。截至2023年12月31日，本集团的资产负债率为22.0%，而截至2022年12月31日的资产负债率为18.8%。或有事件我们目前并无涉及任何重大法律诉讼，亦不知悉我们涉及任何待决或潜在重大法律诉讼。倘我们涉及有关重大法律诉讼，则我们会于产生亏损且有关亏损金额有合理估计时，按当时所得资料记录任何亏损或或有负债。外汇风险管理本集团附属公司在中国内地、港澳台及海外经营，面对若干货币敞口（主要有关美元及港币）引致的外汇风险。由于本集团以我们经营实体各自功能货币以外货币计值的重大金融资产及负债不重大，故管理层认为业务并无任何重大外汇风险敞口。于截至2023年及2022年12月31日止期间，我们并无对冲和外币波动。Trade payablesTrade payables primarily represent our obligation to pay for merchandisefrom suppliers in the ordinary course of business. Trade payables increasedfrom RMB259.0 million as of 31 December 2022 to RMB444.9 million as of 31December 2023. Trade payable turnover days increased from 49 days in 2022to 53 days as of 31 December 2023.Bank borrowingsAs of 31 December 2023, we had a total of RMB15.1 million of bankborrowings, representing short-term loans from a commercial bank (31December 2022: nil). For more details, please refer to note 34 to theconsolidated financial statements.Pledge of AssetsThe Group did not have any pledged assets as of 31 December 2023 (31December 2022: nil).Gearing RatioThe gearing ratio is calculated by dividing total liabilities by total assets andthen multiplying by 100%. As of 31 December 2023, the Group’s gearing ratiowas 22.0% as compared with the gearing ratio of 18.8% as of 31 December2022.ContingencyWe are not currently involved in any material legal proceedings, nor are weaware of any pending or potential material legal proceedings involving us. Ifwe are involved in such material legal proceedings, we would record any lossor contingent liabilities when, based on information then available, it is likelythat a loss has been incurred and the amount of the loss can be reasonablyestimated.Foreign Exchange Risk ManagementThe Group’s subsidiaries operate in Mainland China, Hong Kong, Macao,Taiwan and Overseas, and they are exposed to foreign exchange risk arisingfrom various currency exposures, primarily with respect to USD and HKD. Ourmanagement considers that the business is not exposed to any significantforeign exchange risk as the financial assets and liabilities of our Groupdenominated in currencies other than the respective functional currenciesof our operating entities are not significant. We did not hedge against anyfluctuation in foreign currency during the period ended 31 December 2023and 2022.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司30MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析Capital ExpendituresOur capital expenditures consist of purchases of property, plant andequipment and purchases of intangible assets. The table below sets forth theCompany’s capital expenditures in 2022 and 2023:For the year ended31 December 2023For the year ended31 December 2022截至2023年12月31日止年度截至2022年12月31日止年度(RMB’000)(RMB’000)（人民币千元）（人民币千元）Purchases of property, plant and equipment购置物业、厂房和设备324,179266,132Purchases of intangible assets购置无形资产68,28781,491Total合计392,466347,623Human ResourcesAs of 31 December 2023, we had a total of 4,845 employees, including3,735 sales personnel and 1,110 administrative and development personnel.During the year ended 31 December 2023, we incurred staff costs (includingremuneration, payrolls, allowances and benefits) of RMB1,048.5 million.Future Plans on Significant InvestmentsAs of 31 December 2023, we did not hold any significant investment.We will continue to seek for potential strategic investment opportunities, aswell as potential quality target operations and assets that can create synergyeffect to the Group.Material Acquisitions and DisposalsAs of 31 December 2023, we had not conducted any material acquisition ordisposal of subsidiaries, associates and joint ventures.资本开支本公司的资本开支包括购置物业、厂房及设备的款项和购置无形资产的款项。下表载列本公司2022年以及2023年的资本开支情况：人力资源截至2023年12月31日，我们共有4,845名员工，包括销售员工3,735名，行政及开发人员1,110名。截至2023年12月31日止年度，我们共发生员工成本（包括薪金、工资、津贴和福利）人民币1,048.5百万元。重大投资的未来计划截至2023年12月31日，我们并无持有任何重大投资。我们将继续广泛寻找潜在的策略性投资机会，并寻求可为本集团带来协同效应的潜在优质目标业务及资产。重大收购及出售截至2023年12月31日，我们并无进行任何重大收购或出售附属公司、联营公司及合营企业。
二零二三年年报ANNUAL REPORT 202331MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析主要风险及不确定因素我们面临的主要风险及不确定因素乃关于：(i)作为潮流文化娱乐公司，我们无法保证，我们将能够设计及开发受消费者欢迎的产品，或我们将能够保持成功产品的受欢迎程度；(ii)倘我们获授权的IP的市场吸引力低于预期，或使用该等IP的产品的销售额不足以满足最低保证特许权使用费，我们可能无法实现授权的全部利益；(iii)我们的业务在很大程度上取决于我们「泡泡玛特」品牌的市场认知度，且对我们的品牌、商标或声誉的任何损害，或未能有效推广我们的品牌，均可能对我们的业务及经营业绩造成重大不利影响；(iv)我们通过第三方制造商生产所有的泡泡玛特品牌产品，未能控制产品质量可能会对我们的业务造成不利影响；及(v)宏观经济增速放缓可能削弱对我们产品的需求，从而可能给本公司经营业绩带来一定的负面影响。未来展望IP是我们业务的核心，我们通过创意的产品、精致的设计和优质的服务使消费者收获快乐美好、潮流体验和艺术熏陶，同时，通过提升品牌价值，增加用户对泡泡玛特的品牌忠诚度，保持我们强势的市场地位及竞争力。我们将致力丰富IP类型，扩大IP库，保持高质量的设计创新水平，推出更多头部系列产品，对IP进行持续运营，强化IP心智，加深粉丝与IP之间的情感连接。我们将不断拓宽潮玩品类及IP衍生品。进一步挖掘MEGA、萌粒、衍生品、BJD等品类的价值，不断完善相关工艺及生产发售流程。Major Risks and UncertaintiesPrincipal risks and uncertainties we face are relating to: (i) as a pop cultureentertainment company, we cannot assure that we will be able to design anddevelop products that will be popular with consumers, or that we will be ableto maintain the popularity of successful products; (ii) we may not realize thefull benefit of our licenses if the IPs we are granted license have less marketappeal than expected or if sales from the products that use those IPs arenot sufficient to satisfy the minimum guaranteed royalties; (iii) our businessdepends significantly on market recognition of our“Pop Mart”brand, andany damage to our brand, trademarks or reputation, or failure to effectivelypromote our brand, could materially and adversely impact our business andresults of operations; (iv) we use third-party manufactures to manufactureall of our Pop Mart brand products, and failure in product quality controlmay adversely affect our business; and (v) the slowdown in macro-economicgrowth may weaken the demand in our products which may have a certainnegative impact on the Company’s operating results.OutlookIP is at the core of our business. Through our innovative products, delicatedesign and quality services, we aim to offer consumers with joyful popculture and artistic experience. At the same time, by elevating our brandvalue, 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 the types of our IPs, expand the portfolio of ourIPs, maintain high-quality design and innovation standards, introducemore products as top-selling series, operate IPs continuously, strengthenIPs’impression in the public’s eye, and deepen the emotional connectionbetween fans and IPs. In addition, we will increase types of pop toys and IPside products, further explore the value of product lines such as MEGA, POPBEAN, derivative products and BJD, and improve production technique andsale procedures.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司32MANAGEMENT DISCUSSION AND ANALYSIS管理层讨论与分析我们国际业务将保持快速增长，通过持续推进海外DTC战略，布局线下门店、机器人商店、跨境电商平台等渠道，推动我们的品牌在全球的渗透，不断提升泡泡玛特在海外国家、地区的知名度和潮玩市场份额。业务本地化是海外业务的核心，在加强终端消费者的消费体验和互动的同时，我们将与更多当地生意伙伴和艺术家合作，探索出更多符合本土市场的业务模式、IP和商品品类。我们将致力于扩展我们的渠道网络，从而触达更多的用户，不断精进我们的运营能力，提升用户的消费体验，加强会员拓展和会员运营能力，推动创新零售数字化运作，以更多样化的方式触达和维护用户，提供定制化的、更好的服务。我们将通过更丰富多样的途径持续推广潮流玩具文化，持续影响整个行业，为会员提供更多权益，提高粉丝黏性，提升粉丝的文化认同和品牌认知。在进一步深耕潮流玩具业务的同时，我们将持续深耕MEGA、共鸣、inner flow等新品牌，通过乐园、游戏等新兴业务，进一步加强粉丝对IP的了解、增加与IP互动的方式，从而增进与IP之间的情感联系。打造以IP为核心的更完善、更丰富的商业生态框架。报告期间后事项于最后实际可行日期，本集团于报告期间后并无发生须进一步披露或调整的重大事项。Our international business will continue to grow rapidly, driving the globalpenetration of our brands through the continued promotion of our overseasDTC strategy and the deployment of physical stores, roboshops, cross-bordere-commerce platforms and other channels. We will strive to increase ourbrand awareness and market share in pop toy market in overseas countriesand regions. Localization of operation is the core of our overseas operationsstrategy. While enhancing the shopping experience and interaction of endconsumers, we will also cooperate with more local partners and artists toexplore more business models, IPs and product types that meet the needs oflocal market.We will strive to expand our channel network so as to reach more users. Inaddition, we will continue to strengthen our operating capability, improveuser shopping experience, enhance member expansion and memberoperation capability, promote innovative retail digitalized operation, reachand retain users through diversified measures, and offer customized, betterservices.We will continue to promote pop toy culture through more diversifiedmeans, influence the whole industry continuously, offer more benefits forour privilege members, increase the stickiness of fans, as well as enhance thecultural identity and brand awareness of fans.While further engaging in the Pop Toy business, we will continue to expandnew brands including MEGA, GONG and inner flow. Through emergingbusinesses such as amusement parks and games, we will further strengthenour fans’understanding of IPs and increase their way to interact with IPs, soas to enhance the emotional connection with IPs. Besides, we will constructa more sophisticated and comprehensive business ecosystem with IP as itscore.SUBSEQUENT EVENTS AFTER REPORTING PERIODAs at the Latest Practicable Date, the Group has no significant eventsoccurred after the reporting period which require additional disclosures oradjustments.
二零二三年年报ANNUAL REPORT 202333BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历董事及高级管理层的履历详情载列如下：执行董事王宁先生，37岁，本公司执行董事、董事会主席及行政总裁。王先生于2010年10月成立本集团，负责本公司整体战略规划及管理。王先生于2009年6月获得中国郑州大学西亚斯国际学院（现为郑州西亚斯学院）广告专业学士学位，并于2017年6月获得中国北京大学光华管理学院工商管理硕士学位。王先生目前担任本公司数家主要附属公司的董事，包括北京泡泡玛特及Pop Mart (Hong Kong)Holding Limited。王先生为副总裁杨涛女士的配偶。刘冉女士，36岁，本公司执行董事及副总裁。刘女士大学毕业后不久即于2011年7月加入本集团，负责本公司的总裁办。刘女士于2010年7月获得中国郑州大学西亚斯国际学院（现为郑州西亚斯学院）旅游管理专业学士学位，并于2020年7月获得中国北京大学光华管理学院工商管理硕士学位。刘女士目前担任本公司主要附属公司北京泡泡玛特的董事。The biographical details of the Directors and senior management are set outas follows:EXECUTIVE DIRECTORSMr. Wang Ning (王宁), aged 37, is our executive Director, Chairman of theBoard and Chief Executive Officer of our Company. Mr. Wang founded ourGroup in October 2010, and is responsible for the overall strategic planningand management of our Company.Mr. Wang received his bachelor’s degree in advertising from Sias InternationalCollege of Zhengzhou University (郑州大学西亚斯国际学院) (currentlyknown as Sias University) in the PRC in June 2009, and his master’s degreein business administration from Guanghua School of Management of PekingUniversity (北京大学光华管理学院) in the PRC in June 2017.Mr. Wang is currently a director of certain principal subsidiaries of ourCompany including Beijing Pop Mart, and Pop Mart (Hong Kong) HoldingLimited.Mr. Wang is the spouse of Ms. Yang Tao, our vice president.Ms. Liu Ran (刘冉), aged 36, is our executive Director and vice president. Ms.Liu joined our Group in July 2011 shortly after graduating from university. Ms.Liu is in charge of the president office of our Company.Ms. Liu received her bachelor’s degree in tourism management from SiasInternational College of Zhengzhou University (currently known as SiasUniversity) in the PRC in July 2010, and her master’s degree in businessadministration from Guanghua School of Management of Peking Universityin the PRC in July 2020.Ms. Liu is currently a director of Beijing Pop Mart, a principal subsidiary of ourCompany.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司34BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历司德先生，35岁，本公司执行董事、首席运营官。司先生于2015年3月加入本集团，负责集团运营工作及大陆地区的整体业务。司先生入职本集团之初的职务为品牌总监，于2016年7月晋升为副总裁。司先生于2011年7月在中国获得中国传媒大学法语专业学士学位，并于2017年7月获得中国北京大学光华管理学院工商管理硕士学位。司先生目前担任本公司若干主要附属公司的董事，包括上海葩趣贸易有限公司、北京葩趣互娱科技有限公司及天津泡泡玛特文化传播有限公司。文德一先生，45岁，本公司执行董事、副总裁及国际业务总裁。文先生于2018年8月加入本集团，负责监察本公司港澳台及海外业务部。在此之前，文先生于2013年7月至2018年7月先后担任CJ CheilJedang Corporation的业务发展部全球业务规划专员、全球业务规划高级专员及全球业务规划经理，及于2009年1月至2013年5月担任CJ ENM的全球战略部经理。于2004年12月至2008年12月，文先生任职于Lotte Cinema Co.,Ltd.的规划管理部。文先生于2005年2月获得韩国建国大学中文学士学位，并于2018年7月获得中国北京大学工商管理硕士学位。文先生目前担任本公司若干主要附属公司及合营企业的董事，包括Pop Mart (Singapore)Holding Pte. Ltd.、POP MART SOUTH ASIA PTE.LTD.及POP MART (Thailand) CO., Ltd.。Mr. Si De (司德), aged 35, is our executive Director, chief operating officer.Mr. Si joined our Group in March 2015, and is responsible for the operationsof the Group and the overall business in mainland China. Mr. Si joined ourGroup as the brand director and was promoted to vice president in July 2016.Mr. Si received his bachelor’s degree in French studies from ChinaCommunication University (中国传媒大学) in the PRC in July 2011, andhis master’s degree in business administration from Guanghua School ofManagement of Peking University in the PRC in July 2017.Mr. Si is currently a director of certain principal subsidiaries of our Company,including Shanghai Paqu Commerce Co., Ltd. (上海葩趣贸易有限公司),Beijing Paquhuyu Technology Co., Ltd. (北京葩趣互娱科技有限公司) andTianjin Pop Mart Cultural Communication Co., Ltd. (天津泡泡玛特文化传播有限公司).Mr. Moon Duk Il (文德一), aged 45, is our executive Director, vice presidentand president of international business. Mr. Moon joined our Group inAugust 2018, responsible for overseeing the Hong Kong, Macao, Taiwanand overseas business department of our Company. Prior to that, Mr. Moonserved successively as a global business planning specialist, global businessplanning senior specialist and global business planning junior manager atthe business development department of CJ CheilJedang Corporation fromJuly 2013 to July 2018, and a manager of the global strategy department ofCJ ENM from January 2009 to May 2013. From December 2004 to December2008, Mr. Moon served at the planning management department of LotteCinema Co., Ltd.Mr. Moon received his bachelor’s degree in Chinese from Konkuk Universityin Korea in February 2005, and his master’s degree in business administrationfrom Peking University in the PRC in July 2018.Mr. Moon is currently a director of certain principal subsidiaries and jointventures of our Company, including Pop Mart (Singapore) Holding Pte. Ltd.,POP MART SOUTH ASIA PTE. LTD., and POP MART (Thailand) CO., Ltd.
二零二三年年报ANNUAL REPORT 202335BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历非执行董事屠铮先生，46岁，本公司非执行董事。屠先生于2019年5月获委任为本公司非执行董事，负责向董事会提供专业建议。屠先生自2018年5月起担任上海蜂巧投资管理有限公司的合伙人。彼于2015年5月至2018年4月担任深圳市启赋资本管理有限公司的合伙人。于2007年6月至2015年4月，屠先生于深圳市达晨财智创业投资管理有限公司任职，先后担任投资经理、投资总监及浙江分公司总经理、华东地区副总经理兼TMT部门负责人。屠先生于2000年6月获得中国浙江大学英语专业学士学位，并于2003年6月获得美国芝加哥大学公共政策硕士学位。屠先生目前持有由中国证券投资基金业协会于2017年8月授出的中国证券投资基金执业证书。屠先生目前担任北京泡泡玛特的董事。何愚先生，43岁，本公司非执行董事。何先生于2019年5月获委任为本公司非执行董事，负责向董事会提供专业建议。何先生于2016年2月创办并担任深圳前海黑蚁创新投资合伙企业（有限合伙）的合伙人。在此之前，何先生于2015年8月至2016年2月担任北京字节跳动科技有限公司的战略投资部主管。何先生于2003年6月获得中国南开大学国际经济与贸易专业学士学位，并于2005年11月获得英国兰卡斯特大学金融系硕士学位。何先生于2008年9月获特许财经分析师学会认可为特许金融分析师，并于2017年2月获中国证券投资基金业协会颁发中国证券投资基金执业证书。何先生目前担任北京泡泡玛特的董事。NON-EXECUTIVE DIRECTORSMr. Tu Zheng (屠铮), aged 46, is our non-executive Director. Mr. Tu wasappointed as non-executive Director in May 2019, and is responsible forproviding professional advice to the Board.Mr. Tu has been serving as a partner of Shanghai Fengqiao InvestmentManagement Co. Ltd. (上海蜂巧投资管理有限公司) since May 2018. Heserved as a partner at Shenzhen Qifu Capital Management Co., LTD (深圳市启赋资本管理有限公司) from May 2015 to April 2018. From June 2007to April 2015, Mr. Tu worked at Shenzhen Fortune Caizhi Venture CapitalManagement Co., Ltd. (深圳市达晨财智创业投资管理有限公司) where heserved successively as an investment manager, an investment director, thegeneral manager of Zhejiang branch office, the deputy general manager ofEast China and the head of TMT sector.Mr. Tu received his bachelor’s degree in English studies from ZhejiangUniversity (浙江大学) in the PRC in June 2000, and his master’s degree inpublic policy from the University of Chicago in the United States in June2003. Mr. Tu currently holds the China Securities Investment Fund PracticingCertificate granted by the Asset Management Association of China (中国证券投资基金业协会) in August 2017.Mr. Tu is currently a director of Beijing Pop Mart.Mr. He Yu (何愚), aged 43, is our non-executive Director. Mr. He wasappointed as non-executive Director in May 2019, and is responsible forproviding professional advice to the Board.Mr. He founded and served as a partner of Shenzhen Qianhai Heiyi InnovationInvestment Partnership (Limited Partnership) (深圳前海黑蚁创新投资合伙企业(有限合伙)) since February 2016. Prior to that, Mr. He served as the headof strategy and investment department at Beijing Bytedance Technology Co.Ltd. (北京字节跳动科技有限公司) from August 2015 to February 2016.Mr. He received his bachelor’s degree in international economics and tradefrom Nankai University (南开大学) in the PRC in June 2003, and his master’sdegree in finance from the University of Lancaster in the United Kingdomin November 2005. Mr. He was admitted as a Chartered Financial Analyst bythe CFA Institute in September 2008, and was granted the China SecuritiesInvestment Fund Practicing Certificate by the Asset Management Associationof China in February 2017.Mr. He is currently a director of Beijing Pop Mart.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司36BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历独立非执行董事张建君先生，57岁，自2020年12月11日（「上市日期」）起为本公司独立非执行董事，负责向董事会提供独立意见及判断。张先生现为北京大学光华管理学院组织与战略管理系教授。张先生的研究重点为企业社会责任、企业政治活动、领导及领导团队以及企业文化等课题。张先生自2004年3月起担任北京大学光华管理学院教职人员。彼在过去15年的研究中积累有关企业管治的深入知识。张先生的出版物「Marketization and Democracy in China」于2011年3月获北京大学第十一届人文社会科学研究优秀成果奖一等奖及中国教育部颁发的第六届高等学校科学研究优秀成果奖二等奖。张先生亦分别于2014年12月及2018年12月获北京大学光华管理学院颁发厉以宁教学奖及厉以宁研究奖。于2014年11月至2017年8月，张先生担任建信人寿保险股份有限公司的独立董事。张先生分别于1989年7月及1992年7月获得中国北京大学法学学士及硕士学位。张先生于2003年12月获得美国加州大学伯克利分校社会学博士学位。吴联生先生，53岁，自上市日期起为本公司独立非执行董事，负责向董事会提供独立意见及判断。吴先生于2001年9月至2022年3月担任北京大学光华管理学院教职人员，自2022年3月起担任南方科技大学商学院教职人员。INDEPENDENT NON-EXECUTIVE DIRECTORSMr. Zhang Jianjun (张建君), aged 57, is our independent non-executiveDirector with effect from 11 December 2020 (the“Listing Date”), and isresponsible for providing independent opinion and judgment to the Board.Mr. Zhang is currently a professor of organizational and strategicmanagement at Guanghua School of Management of Peking University.Mr. Zhang’s research focuses on corporate social responsibilities, corporatepolitical activities, leaders and leadership teams and corporate culture,among other subjects. Mr. Zhang has been a faculty member at GuanghuaSchool of Management of Peking University since March 2004. Mr. Zhanghas accumulated in-depth understanding of corporate governance from hisresearch over the past 15 years. His publication, Marketization and Democracyin China, has won the first prize of the 11th sociology studies achievementaward of the Peking University in March 2011 and second prize of the 6thaward for outstanding achievement of scientific research in colleges anduniversities issued by the Ministry of Education of the PRC. Mr. Zhang wasalso awarded the Li Yining Teaching Award in December 2014 and Li YiningResearch Award in December 2018 by the Guanghua school of Managementof Peking University. Mr. Zhang served as an independent director of CCB LifeInsurance Company Limited from November 2014 to August 2017.Mr. Zhang received his bachelor’s and master’s degrees in law from PekingUniversity in the PRC in July 1989 and July 1992, respectively. Mr. Zhangreceived his Ph.D in sociology from the University of California, Berkeley inthe United States in December 2003.Mr. Wu Liansheng (吴联生), aged 53, is our independent non-executiveDirector with effect from the Listing Date, and is responsible for providingindependent opinion and judgement to the Board. Mr. Wu was facultymember at Guanghua School of Management of Peking University fromSeptember 2001 to March 2022, and has been faculty member at SouthernUniversity of Science and Technology Business School since March 2022.
二零二三年年报ANNUAL REPORT 202337BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历吴先生于若干上市公司担任董事职务。彼于2008年5月至2014年7月担任华能国际电力股份有限公司（一家于上海证券交易所（股份代号：600011）、联交所（股份代号：902）及纽约证券交易所（股份代号：HNP）上市的公司）的独立董事，于2009年1月至2012年1月担任荣盛房地产发展股份有限公司（一家于深圳证券交易所上市的公司，股份代号：002146）的独立董事，于2011年2月至2015年9月担任西部矿业股份有限公司（一家于上海证券交易所上市的公司，股份代号：601168）的独立董事，于2011年1月至2015年11月担任万达电影院线股份有限公司（现称万达电影股份有限公司，一家于深圳证券交易所上市的公司，股份代号：002739）的独立董事，于2011年11月至2016年5月担任中国建材股份有限公司（一家于联交所上市的公司，股份代号：3323）的独立非执行董事，以及于2014年5月至2016年3月担任新华网股份有限公司（一家于上海证券交易所上市的公司，股份代号：603888）的独立董事及于2018年9月至2021年3月担任中银国际证券股份有限公司（一家于上海证券交易所上市的公司，股份代号：601696）的独立董事。吴先生自2020年5月起担任正源控股股份有限公司（一家于上海证券交易所上市的公司，股份代号：00321）的独立董事，自2021年11月起担任中国农业银行股份有限公司（一家于上海证券交易所（股份代号：601288）、联交所（股份代号：1288）上市的公司）的独立董事。吴先生分别于1993年7月及1996年6月获得中国武汉大学经济学学士及硕士学位，并于1999年6月获得中国中南财经大学（现称中南财经政法大学）管理学博士学位。Mr. Wu had served directorships in certain listed companies. He served asan independent director of Huaneng Power International, Inc. (华能国际电力股份有限公司), a company listed on the Shanghai Stock Exchange (StockCode: 600011), the Stock Exchange (Stock Code: 902) and the New York StockExchange (Stock Code: HNP) from May 2008 to July 2014, an independentdirector of RiseSun Real Estate Development Co., Ltd. (荣盛房地产发展股份有限公司), a company listed on the Shenzhen Stock Exchange (StockCode: 002146) from January 2009 to January 2012, an independent directorof Western Mining Co., Ltd. (西部矿业股份有限公司), a company listed onthe Shanghai Stock Exchange (Stock Code: 601168) from February 2011 toSeptember 2015, an independent director of Wanda Cinema Line Co. Ltd (万达电影院线股份有限公司) (now known as Wanda Film Holding Co., Ltd (万达电影股份有限公司)), a company listed on the Shenzhen Stock Exchange(Stock Code: 002739) from January 2011 to November 2015, an independentnon-executive director of China National Building Material Company Limited(中国建材股份有限公司), a company listed on the Stock Exchange (StockCode: 3323) from November 2011 to May 2016, an independent director ofXinhuanet Co., Ltd (新华网股份有限公司), a company listed on the ShanghaiStock Exchange (Stock Code: 603888) from May 2014 to March 2016 and anindependent director of BOC International (China) Co., Ltd. (中银国际证券股份有限公司), a company listed on the Shanghai Stock Exchange (StockCode: 601696) from September 2018 to March 2021. Mr. Wu has served asan independent director of Rightway Holdings Co., Ltd., a company listed onthe Shanghai Stock Exchange (Stock Code: 00321) since May 2020, and hasserved as an independent director of Agricultural Bank Of China Limited, acompany listed on the Shanghai Stock Exchange (Stock code: 601288) andthe Stock Exchange (Stock code:1288) since November 2021.Mr. Wu received his bachelor’s degree in economics from Wuhan Universityin the PRC in July 1993, his master’s degree in economics from WuhanUniversity in the PRC in June 1996, and his Ph.D in management fromZhongnan University of Finance and Economics (中南财经大学) (now knownas Zhongnan University of Economics and Law (中南财经政法大学)) in thePRC in June 1999.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司38BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历颜劲良先生，40岁，自上市日期起为本公司独立非执行董事，负责向董事会提供独立意见及判断。颜先生自2015年6月起担任美图公司（一家于联交所上市的公司，股份代号：1357）的首席财务官。彼于2016年8月2日获委任为美图公司的联席公司秘书之一，并自2019年12月15日起成为美图公司的公司秘书。颜先生于2012年5月至2015年6月担任云游控股有限公司（一家于联交所上市的公司，股份代号：484）的首席营运官、首席财务官及联席公司秘书。在此之前，彼于2006年7月至2012年4月担任UBS AG的董事和香港及中国互联网研究主管。颜先生于2006年获得美国宾夕法尼亚大学沃顿商学院经济学理学学士学位。彼自2010年起一直为特许金融分析师。高级管理层王宁先生，37岁，本公司执行董事、董事会主席及行政总裁。有关其履历的详情，请参阅本节「执行董事」分节。司德先生，35岁，本公司执行董事、首席运营官。有关其履历的详情，请参阅本节「执行董事」分节。文德一先生，45岁，本公司执行董事、副总裁及国际业务总裁。有关其履历的详情，请参阅本节「执行董事」分节。杨涛女士，37岁，本公司副总裁。杨女士在硕士学位课程结束后于2010年10月加入本集团，负责本公司IP运营、产品研发及Inner flow艺术机构。杨女士于2019年5月至2024年3月担任本公司执行董事。杨女士于2009年5月获得美国福特海斯州立大学通识学学士学位，并于2010年11月获得香港浸会大学传播学硕士学位。Mr. Ngan King Leung Gary (颜劲良), aged 40, is our independent non-executive Director with effect from the Listing Date, and is responsible forproviding independent opinion and judgement to the Board.Mr. Ngan has served as the chief financial officer at Meitu, Inc., a companylisted on the Stock Exchange (stock code: 1357) since June 2015. He wasappointed as one of the joint company secretaries of Meitu, Inc. on 2 August2016, and became the company secretary of Meitu, Inc. since 15 December2019. Between May 2012 and June 2015, Mr. Ngan held the positions ofchief operating officer, chief financial officer and joint company secretary atForgame Holdings Limited, a company listed on the Stock Exchange (stockcode: 484). Prior to that, he was the director and head of Hong Kong andChina Internet research at UBS AG, where he worked from July 2006 to April2012.Mr. Ngan received his bachelor of science degree in economics from theWharton School, University of Pennsylvania in the United States in 2006. Hehas been a CFA Charterholder since 2010.SENIOR MANAGEMENTMr. Wang Ning (王宁), aged 37, is our executive Director, Chairman ofthe Board and Chief Executive Officer of our Company. For details of hisbiography, please see the sub-section headed“Executive Directors”in thissection.Mr. Si De (司德), aged 35, is our executive Director, Chief Operations Officer.For details of his biography, please see the sub-section headed“ExecutiveDirectors”in this section.Mr. Moon Duk Il (文德一), aged 45, is our executive Director, vice presidentand president of international business. For details of his biography, pleasesee the sub-section headed“Executive Directors”in this section.Ms. Yang Tao (杨涛), aged 37, is our vice president. Ms. Yang joined ourGroup in October 2010 after completion of her master’s program, and is incharge of IP operation, product R&D and the Inner flow art organization ofour Company. Ms. Yang served as an executive director of the Company fromMay 2019 to March 2024.Ms. Yang received her bachelor’s degree in general studies from Fort HaysState University in the United States in May 2009, and her master’s degree incommunication studies from Hong Kong Baptist University in Hong Kong inNovember 2010.
二零二三年年报ANNUAL REPORT 202339BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历杨女士目前担任本公司主要附属公司北京泡泡玛特的董事。杨女士为本公司执行董事、董事会主席及行政总裁王先生的配偶。刘冉女士，36岁，本公司执行董事及副总裁。有关其履历的详情，请参阅本节「执行董事」分节。杨镜冰先生，45岁，本公司首席财务官。杨先生于2017年8月加入本集团，负责本公司的财务管理。于加入本集团之前，杨先生于2010年3月至2017年8月先后担任北京金隅大成开发有限公司（现称北京金隅房地产开发集团有限公司）的财务及资本部经理、总经理助理及首席财务官。于2009年3月至2010年3月，彼担任北京大成开发有限公司的财务规划部经理。于2007年9月至2009年3月，杨先生担任北京金隅股份有限公司的上市办公室财务部成员。于2002年7月至2007年9月，杨先生担任北京金隅嘉业房地产开发公司的财务部职员。杨先生于2002年6月获得中国上海财经大学法学及管理学学士学位，并于2016年6月获得中国北京大学光华管理学院工商管理硕士学位。Ms. Yang is currently a director of Beijing Pop Mart, a principal subsidiary ofour Company.Ms. Yang is the spouse of Mr. Wang, our executive Director, Chairman of theBoard and Chief Executive Officer of our Company.Ms. Liu Ran (刘冉), aged 36, is our executive Director and vice president.For details of her biography, please see the sub-section headed“ExecutiveDirectors”in this section.Mr. Yang Jingbing (杨镜冰), aged 45, is the Chief Financial Officer of ourCompany. Mr. Yang joined our Group in August 2017, and is responsible forthe management of finance of our Company.Prior to joining our Group, Mr. Yang served successively as a manager ofthe finance and capital department, an assistant to the general managerand a chief financial officer of Beijing BBMG Dacheng Development Co.,Ltd. (北京金隅大成开发有限公司) (now known as Beijing BBMG PropertyDevelopment Group Co., Ltd. (北京金隅房地产开发集团有限公司)) fromMarch 2010 to August 2017. He served as a manager of financial planningdepartment Beijing Dacheng Development Co., Ltd. (北京大成开发有限公司) from March 2009 to March 2010. From September 2007 to March 2009,Mr. Yang served as a member of the finance section of the listing office ofBBMG Corporation (北京金隅股份有限公司). Mr. Yang served as a staff of thefinance department of Beijing GEM Real Estate Development Company (北京金隅嘉业房地产开发公司) from July 2002 to September 2007.Mr. Yang received his bachelor’s degree in law and management in June2002 from Shanghai University of Finance and Economics in the PRC, and hismaster’s degree in business administration in June 2016 from the GuanghuaSchool of Management of Peking University in the PRC.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司40REPORT OF DIRECTORS董事会报告书本公司董事（「董事」）会（「董事会」）欣然提呈本公司年报连同本公司截至2023年12月31日止年度之经审核综合财务报表。主要业务本公司是中国领先的潮流玩具公司，中国潮流玩具文化的开拓者及主要推广者。IP是我们业务的核心。我们建立了覆盖潮流玩具IP全产业链的综合运营平台，包括IP孵化与运营、潮流玩具与零售、主题乐园与体验、数字娱乐四大版块，通过该平台我们得以激发粉丝对潮流的热情，给他们带来快乐和美好。业绩本集团截至2023年12月31日止年度之业绩载于本年报第180至318页之综合财务报表。股息分派我们拟每年向股东派付股息，数额不少于我们可分派纯利的20%，惟须经董事酌情决定。经股东于股东大会上批准后，董事会可指示通过分派任何类型的特定资产全部或部分偿付股息。任何股息的宣派和派付以及金额将须遵守我们的章程文件及开曼公司法。我们的股东可在股东大会上批准任何股息的宣派，但不得超过董事会推荐的金额。股息只能从本公司可合法作分派用途的溢利及储备（包括股份溢价）中宣派或派付。本公司不会就股息支付利息。The board (the“Board”) of directors (the“Directors”) of the Company ispleased to present its report together with the audited consolidated financialstatements of the Company for the year ended 31 December 2023.PRINCIPAL BUSINESSThe Company is a leading pop toy company, and a pioneer and keypromoter of pop toy culture in China. IP is at the core of our business. Wehave established an integrated operation platform covering the entireindustry chain of pop toy IPs, including four segments being IP incubationand operation, pop toys and retail, theme park and IP experience, and digitalentertainment, through which we light up the passion of fans and bringthem joy.RESULTSThe results of the Group for the year ended 31 December 2023 are set out inthe consolidated financial statements on pages 180 to 318 of this annual report.DIVIDEND DISTRIBUTIONWe intend to distribute dividends to our Shareholders on an annual basisof no less than 20% of our distributable net profit, which is subject to thediscretion of our Directors. The Board, with the sanction of the Shareholdersin general meeting, may direct any dividend be satisfied wholly or in part bythe distribution of specific assets of any kind. Any declaration and paymentas well as the amount of dividends will be subject to our constitutionaldocuments and the Cayman Companies Law. Our Shareholders in a generalmeeting may approve any declaration of dividends, which must not exceedthe amount recommended by our Board. No dividends shall be declaredor payable except out of our profits and reserves of our Company lawfullyavailable for distribution including share premium. No dividend shall carryinterest against our Company.
二零二三年年报ANNUAL REPORT 202341REPORT OF DIRECTORS董事会报告书董事会将根据下列因素不时检讨股息政策，以决定是否宣派及派付股息：•我们的经营业绩；•我们的现金流量；•我们的财务状况；•我们的资金要求；•相关法律规定；及•董事会认为相关的其他因素。根据第二次经修订及重述的组织章程细则，本公司可在股东大会宣布以任何货币派发股息，惟股息金额不得高于董事会所建议者。于2023年12月31日，概无本公司股东放弃或同意放弃其股息之安排。董事会已决定宣派截至2023年12月31日止年度的末期股息每股已发行普通股人民币28.21分。拟派末期股息须待股东在将于2024年5月21日（星期二）举行的本公司应届股东周年大会（「股东周年大会」）上审议及批准。末期股息将向2024年5月30日（星期四）名列本公司股东名册的股东派付。待股东周年大会批准，末期股息预计将于2024年6月12日（星期三）分派。The Board will review dividend policy from time to time in light of thefollowing factors in determining whether dividends are to be declared andpaid:• our results of operations;• our cash flows;• our financial condition;• our capital requirements;• relevant legal requirements; and• other factors the Board may deem relevant.In accordance with the second amended and restated Articles of Association,the Company in general meeting may declare dividends in any currency butno dividends shall exceed the amount recommended by the Board.As at 31 December 2023, no arrangement was reached pursuant to which theshareholders of the Company waived or agreed to waive their dividends.The Board has resolved to declare a final dividend of RMB28.21 centsper ordinary Share issued for the year ended 31 December 2023. Theproposed final dividend is subject to the consideration and approval by theShareholders at the forthcoming annual general meeting of the Company tobe held on Tuesday, 21 May 2024 (the“AGM”). The final dividend is payableto the Shareholders whose names are listed in the register of members of theCompany on Thursday, 30 May 2024. Once approved by the AGM, the finaldividend is expected to be distributed on Wednesday, 12 June 2024.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司42REPORT OF DIRECTORS董事会报告书税务减免及豁免董事并不知悉股东因其持有本公司证券而享有的任何税务减免及豁免。股东周年大会本公司股东周年大会将于2024年5月21日举行。股东周年大会通告将按联交所证券上市规则（「上市规则」）规定的方式于适当时候刊发及派发予股东。暂停办理股份过户登记为确定出席股东周年大会并于会上投票之资格，本公司将于2024年5月16日（星期四）至2024年5月21日（星期二）（包括首尾两天）暂停办理股份过户登记手续，在此期间将暂停股份过户。为符合资格出席股东周年大会并于会上投票，所有填妥之股份过户表格连同有关股票必须不迟于2024年5月14日（星期二）下午四时三十分前，一并送达本公司的香港股份过户登记分处香港中央证券登记有限公司以供登记，地址为香港湾仔皇后大道东183号合和中心17楼1712-1716号舖。为确定获取建议末期股息之资格（须待股东于股东周年大会上批准），本公司将于2024年5月27日（星期一）至2024年5月30日（星期四）（包括首尾两天）暂停办理股份过户登记手续，在此期间将暂停本公司股份过户。为符合资格获取末期股息，所有过户文件连同有关股票必须不迟于2024年5月24日（星期五）下午四时三十分前，一并送达本公司的香港股份过户登记分处香港中央证券登记有限公司以供登记，地址为香港湾仔皇后大道东183号合和中心17楼1712-1716号舖。TAX RELIEF AND EXEMPTIONThe Directors are not aware of any tax relief and exemption available to theShareholders by reason of their holding of the Company’s securities.ANNUAL GENERAL MEETINGThe AGM of the Company will be held on 21 May 2024. The notice of theAGM will be published and dispatched to the Shareholders in due course inthe manner as required by the Rules Governing the Listing of Securities onthe Stock Exchange (the“Listing Rules”).CLOSURE OF REGISTER OF MEMBERSIn order to determine the entitlement to attend and vote at the AGM, theregister of members of the Company will be closed from Thursday, 16 May2024 to Tuesday, 21 May 2024, both days inclusive, during which period notransfer of Shares will be registered. In order to be qualified to attend andvote at the AGM, all completed transfers forms accompanied by the relevantshare certificates must be lodged for registration with the Company’s branchshare registrar in Hong Kong, Computershare Hong Kong Investor ServicesLimited, at Shops 1712-1716, 17th Floor Hopewell Centre, 183 Queen’s RoadEast, Wanchai, Hong Kong no later than 4:30 p.m. on Tuesday, 14 May 2024.In order to determine the entitlement to the proposed final dividends,subject to the approval of the Shareholders at the AGM, the register ofmembers of the Company will be closed from Monday, 27 May 2024 toThursday, 30 May 2024 (both days inclusive), during which period no transferof Shares of the Company will be registered. In order to be qualified to obtainfinal dividends, all transfers accompanied by the relevant share certificatesmust be lodged for registration with the Company’s branch share registrar inHong Kong, Computershare Hong Kong Investor Services Limited, at Shops1712-1716, 17th Floor Hopewell Centre, 183 Queen’s Road East, Wanchai,Hong Kong no later than 4:30 p.m. on Friday, 24 May 2024.
二零二三年年报ANNUAL REPORT 202343REPORT OF DIRECTORS董事会报告书业务回顾有关本集团业务的中肯回顾及本集团年内业绩的讨论与分析（使用主要财务表现指标）及影响其业绩及财政状况的重大因素以及本集团的业务前景载于本年报第10至32页的「管理层讨论与分析」。本集团面对的主要风险及不明确因素之描述载于本年报第31页的「管理层讨论与分析」。环保政策及表现促进可持续、保护环境是我们的企业及社会责任。就此，我们透过减少碳足迹，并以可持续方式进行企业发展，致力将我们对环境造成的影响降至最低。于截至2023年12月31日止年度期间，我们须遵守各种环保法例及规例。有关截至2023年12月31日止年度期间我们在环保、社会及管治方面的工作详情，请参阅本年报「环境、社会及管治报告」。法律程序及遵守相关法例及规例我们可能不时成为一般业务过程引起的各类法律程序的一方。董事确认，于截至2023年12月31日止年度及直至最后实际可行日期，我们并无涉及任何针对我们或任何董事作出且可能对我们的业务、财务状况或营运业绩造成重大不利影响的任何诉讼、仲裁或行政程序。此外，就董事所知，概无针对我们或任何董事作出且可能对我们的业务、财务状况或营运业绩造成重大不利影响的未决或可见诉讼、仲裁或行政程序。于截至2023年12月31日止年度及直至最后实际可行日期，本集团在所有重大方面已遵守法例，包括香港公司条例（香港法例第622章）、上市规则、《证券及期货条例》及上市规则附录C1所载企业管治守则（「企业管治守则」）有关（其中包括）资讯披露及企业管治的规定。BUSINESS REVIEWA fair review of the business and a discussion and analysis of the Group’sperformance during the year, using financial key performance indicatorsand the material factors underlying its results and financial position as wellas the outlook of the Group’s business are provided in the“ManagementDiscussion and Analysis”on pages 10 to 32 of this annual report. Descriptionof the principal risks and uncertainties faced the Group can be found in the“Management Discussion and Analysis”on page 31 of this annual report.ENVIRONMENTAL POLICIES AND PERFORMANCEIt is our corporate and social responsibility to promote a sustainable and eco-friendly environment. In this respect, we strive to minimize our environmentalimpact by reducing our carbon footprint and to build our corporation in asustainable way.During the year ended 31 December 2023, we are subject to variousenvironmental protection laws and regulations. For more details, pleaserefer to“Environmental, Social and Governance Report”of this annual reportfor our work in respect of environmental protection, social and governanceduring year ended 31 December 2023.LEGAL PROCEEDINGS AND COMPLIANCE WITHRELEVANT LAWS AND REGULATIONSWe may from time to time become a party to various legal proceedingsarising in the ordinary course of business. Directors confirm that, during theyear ended 31 December 2023 and up to the Latest Practicable Date, we hadnot involved in any litigation, arbitration or administrative proceeding againstus or any of our Directors that could have a material and adverse effect onour business, financial conditions or results of operations. Furthermore, tothe knowledge of our Directors, there is no pending or foreseeable litigation,arbitration or administrative proceeding against us or any of our Directorsthat could cause a material and adverse effect on our business, financialconditions or results of operations.During the year ended 31 December 2023 and up to the Latest PracticableDate, the Group had complied with the laws in all material respects, includingthe requirements under the Hong Kong Companies Ordinance (Chapter 622of the Laws of Hong Kong), the Listing Rules, the SFO and the CorporateGovernance Code (the“CG Code”) contained in Appendix C1 to the ListingRules for, among other things, the disclosure of information and corporategovernance.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司44REPORT OF DIRECTORS董事会报告书财务概要本公司于过去五个财政年度的业绩、资产及负债的概要载于本年报第6至7页。该概要并不构成经审核综合财务报表的一部分。与持份者的关系雇员截至2023年12月31日，我们共有4,845名雇员。我们的绝大多数雇员常驻中国。我们主要通过校园招聘会、招聘代理以及我们的公司网站及社交网络平台等线上渠道招聘雇员。我们已采用健全的内部培训政策，根据该等政策，内部主讲人或外聘顾问定期向雇员提供管理、技术及其他培训。根据中国法律法规的要求，我们参与各项政府法定雇员福利计划，包括社会保险基金（即养老金供款计划、医疗保险计划、失业保险计划、工伤保险计划及生育保险计划）及住房公积金。根据中国法律，我们须根据员工薪金、花红及特定津贴的特定百分比向员工福利计划供款，惟以当地政府不时规定的最高金额为限。我们与所有最高行政人员及绝大多数员工订立有关保密、知识产权、雇佣、商业道德及不竞争的标准合约及协议。该等合约通常包括不竞争条文及在受雇于我们期间及之后有效的保密条文。我们相信我们与雇员保持良好的工作关系，且我们于截至2023年12月31日止年度及直至最后实际可行日期并无发生任何重大劳资纠纷，招聘经营所需员工时亦无遭遇任何难题。FINANCIAL SUMMARYA summary of the Company’s results, assets and liabilities for the last fivefinancial years are set out on pages 6 to 7 of this annual report. This summarydoes not form part of the audited consolidated financial statements.RELATIONSHIP WITH STAKEHOLDERSEmployeesAs of 31 December 2023, we had a total of 4,845 employees. Substantially allof our employees are based in the PRC.We primarily recruit our employees through on-campus job fairs, recruitmentagencies and online channels including our corporate websites and socialnetworking platforms. We have adopted robust internal training policies,pursuant to which management, technology and other training are regularlyprovided to our employees by internally sourced speakers or externally hiredconsultants.As required by PRC laws and regulations, we participate in variousgovernment statutory employee benefit plans, including social insurancefunds, namely a pension contribution plan, a medical insurance plan, anunemployment insurance plan, a work-related injury insurance plan, amaternity insurance plan, and a housing provident fund. We are requiredunder PRC law to contribute to employee benefit plans at specifiedpercentages of the salaries, bonuses and certain allowances of our employeesup to a maximum amount specified by the local government from time totime.We enter into standard contracts and agreements regarding confidentiality,intellectual property, employment, commercial ethics and non-competitionwith all of our executive officers and the vast majority of our employees.These contracts typically include a non-competition provision and aconfidentiality provision effective during and after their employment with us.We believe that we maintain a good working relationship with ouremployees, and we have not experienced any significant labor disputes orany difficulty in recruiting staff for our operations during the year ended 31December 2023 and up to the Latest Practicable Date.
二零二三年年报ANNUAL REPORT 202345REPORT OF DIRECTORS董事会报告书客户我们的客户主要包括粉丝及经销商，其次包括我们的批量采购公司客户。我们一般向批发客户提供30至90天的信贷期。信贷历史良好且保持长期关系的若干批发客户可享受最多180天的优惠信贷期。我们拥有多元化的客户基础。截至2023年12月31日止年度，本集团向五大客户的销售额占本集团总销售额的比例不足30%。供应商目前，我们的供应商主要包括中国境内的选定第三方制造商。我们根据质量、产能、价格、经营年资、声誉及对适用法律法规的遵守情况等因素选择第三方制造商。我们的大多数第三方制造商具备丰富的行业经验，并与中国及全球其他主要玩具品牌合作。此外，我们的供应商亦包括第三方品牌拥有人，我们购买彼等的产品并通过我们的网络进行销售。我们通常与供应商订立至少一年的供应协议，惟须遵守我们的标准条款及条件。在大多数情况下，当与特定供应商签订的订单超过协定金额时，我们将在购买价基础上享有与供应商协定的一定百分比的回佣或折扣。我们的供应商可能授予我们最多180天的信贷期。截至2023年12月31日止年度，本集团向五大供应商作出的采购额占本集团总采购额的60.6%，向最大供应商作出的采购额则占24.5%。于截至2023年12月31日止年度期间及直至最后实际可行日期，就董事所知，董事或本公司或其附属公司的最高行政人员、彼等各自的联系人或紧随全球发售完成后持有本公司已发行股本超过5%的任何本公司股东概无于我们任何五大供应商中拥有任何权益。CustomersOur customers primarily consist of our fans and distributors, and to a lesserextent, our bulk purchase corporate customers. We generally provide creditterms to our wholesale customers ranging from 30 to 90 days. Certainwholesale customers with good history and long-term relationship areextended preferential credit terms of up to 180 days. We have a diversifiedcustomer base.For the year ended 31 December 2023, the Group’s sales to its five largestcustomers accounted for less than 30% of the Group’s total sales.SuppliersCurrently, our suppliers primarily include selected third-party manufacturersin China. We select third-party manufacturers based on factors such asquality, capacity, price, years of operation, reputation and compliance withapplicable laws and regulations. Most of our third-party manufacturers haveextensive industry experience and cooperate with other major toy brands inChina and globally. In addition, our suppliers also include third-party brandowners from whom we procure their products and sell through our network.We usually enter into supply agreements of at least one year with oursuppliers, subject to our standard terms and conditions. In most cases, whenorders placed with a particular supplier exceed the agreed amount, we willbe entitled to a percentage rebate or discount on the purchase price asagreed with the supplier. Our suppliers may grant us credit terms of up to180 days.For the year ended 31 December 2023, purchases from the Group’s fivelargest suppliers accounted for 60.6% of the Group’s total purchases andpurchases from the largest supplier accounted for 24.5%.So far as our Directors are aware, none of our Directors or executive officersof our Company or its subsidiaries, their respective associates or anyShareholders of our Company holding more than 5% of the issued sharecapital of our Company immediately following the completion of the GlobalOffering, had any interests in any of our five largest suppliers during the yearended 31 December 2023 and up to the Latest Practicable Date.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司46REPORT OF DIRECTORS董事会报告书股本本公司股本于截至2023年12月31日止年度期间的变动详情载于综合财务报表附注25。于2023年12月31日，本公司的已发行股本为1,348,243,150股股份。储备本集团截至2023年12月31日止年度期间的储备变动详情载于本年报第185至186页的综合权益变动表。可分派储备于2023年12月31日，本公司可向股东分派之储备约为人民币11,964,634,000元。有关更多详情，请参阅综合财务报表附注37。物业、厂房及设备本集团截至2023年12月31日止年度期间的物业、厂房及设备变动详情载于综合财务报表附注14。充足公众持股量于截至2023年12月31日止年度期间及于最后实际可行日期，基于本公司公开可得资料及据董事所深知，本公司已遵照上市规则的规定维持25%的最低公众持股量。优先认购权组织章程细则或开曼群岛法律概无有关优先认购权的条文规定本公司须按比例向现有股东发售新股份。SHARE CAPITALDetails of movements in the share capital of the Company during the yearended 31 December 2023 are set out in note 25 to the consolidated financialstatements.As at 31 December 2023, the issued share capital of the Company was1,348,243,150 shares.RESERVESDetails of movements in the reserves of the Group during the year ended31 December 2023 are set out on pages 185 to 186 in the consolidatedstatement of changes in equity in this annual report.DISTRIBUTABLE RESERVESAs at 31 December 2023, the Company’s reserve available for distributionto shareholders amounted to approximately RMB11,964,634,000. For moredetails, please refer to note 37 to the consolidated financial statements.PROPERTY, PLANT AND EQUIPMENTDetails of movements in the property, plant and equipment of the Groupduring the year ended 31 December 2023 are set out in note 14 to theconsolidated financial statements.SUFFICIENCY OF PUBLIC FLOATDuring the year ended 31 December 2023 and as at the Latest PracticableDate and based on the information publicly available to the Company andto the best knowledge of the Directors, the Company has maintained theminimum public float of 25% as required under the Listing Rules.PRE-EMPTIVE RIGHTSThere is no provision for pre-emptive rights under Articles of Association orthe laws of the Cayman Islands that would oblige the Company to offer newshares on a pro rata basis to the existing Shareholders.
二零二三年年报ANNUAL REPORT 202347REPORT OF DIRECTORS董事会报告书董事及高级管理层本公司于截至2023年12月31日止年度期间及直至最后实际可行日期的董事及高级管理层载列如下：DIRECTORS AND SENIOR MANAGEMENTThe Directors and senior management of the Company during the yearended 31 December 2023 and up to the Latest Practicable Date are set outbelow:NamePosition in the Company姓名于本公司的职位Directors董事Mr. Wang NingExecutive Director, Chairman of the Board and Chief Executive Officer王宁先生执行董事、董事会主席及行政总裁Ms. Yang Tao(resigned as Executive Directoron 20 March 2024)Vice President杨涛女士（于2024年3月20日辞任为执行董事）副总裁Ms. Liu RanExecutive Director and Vice President刘冉女士执行董事及副总裁Mr. Si DeExecutive Director, Chief Operating Officer司德先生执行董事、首席运营官Mr. Moon Duk Il(appointed as ExecutiveDirector on 20 March 2024)Executive Director, Vice President and President of International Business文德一先生（于2024年3月20日获委任为执行董事）执行董事、副总裁及国际业务总裁Mr. Tu ZhengNon-executive Director屠铮先生非执行董事Mr. He YuNon-executive Director何愚先生非执行董事Mr. Zhang JianjunIndependent Non-executive Director张建君先生独立非执行董事Mr. Wu LianshengIndependent Non-executive Director吴联生先生独立非执行董事Mr. Ngan King Leung GaryIndependent Non-executive Director颜劲良先生独立非执行董事Senior management高级管理层Mr. Wang NingExecutive Director, Chairman of the Board and Chief Executive Officer王宁先生执行董事、董事会主席及行政总裁Mr. Si DeExecutive Director, Chief Operating Officer司德先生执行董事、首席运营官Mr. Moon Duk IlExecutive Director, Vice President and President of International Business文德一先生执行董事、副总裁及国际业务总裁Ms. Yang TaoVice President杨涛女士副总裁Ms. Liu RanExecutive Director and Vice President刘冉女士执行董事及副总裁Mr. Yang JingbingChief Financial Officer杨镜冰先生首席财务官
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司48REPORT OF DIRECTORS董事会报告书据董事所知、所悉及所信，除本年报所披露者外，董事及高级管理层之间并无任何关系。根据组织章程细则第16.2及16.19条，文德一先生、张建君先生、吴联生先生及颜劲良先生将轮值告退，并符合资格及愿意于股东周年大会膺选连任为董事。概无退任董事订有本公司或其任何附属公司于一年内未经支付赔偿（一般法定责任除外）则不可终止的未届满服务合约。董事及高级管理层的履历详情载于本年报第33至39页。董事的服务协议各执行董事王宁先生、刘冉女士及司德先生已与本公司订立服务协议，任期自上市日期起计为期三年，并可根据其各自的条款予以终止。文德一先生已与本公司订立服务协议，任期自委任日期起计为期三年，并可根据其服务合约予以终止。服务合约将于届满时自动重续。非执行董事各自与本公司订立服务协议，据此彼等同意担任非执行董事，初步年期为上市日期起计三年。非执行董事或本公司可发出不少于一个月的书面通知终止服务协议。服务合约将于届满时自动重续。独立非执行董事各自与本公司签订任命书，年期为上市日期起计三年。独立非执行董事或本公司可发出不少于一个月的书面通知终止任命书。任命书将于届满时自动重续。To the best of the Directors’knowledge, information and belief, save asdisclosed in this annual report, the Directors and senior management do nothave any relationship amongst them.In accordance with articles 16.2 and 16.19 of the Articles of Association, Mr.Moon Duk Il, Mr. Zhang Jianjun, Mr. Wu Liansheng and Mr. Ngan King LeungGary will retire by rotation, and being eligible, have offered themselves for re-election as Directors at the AGM.None of the retiring Directors has an unexpired service contract which isnot determinable by the Company or any of its subsidiaries within oneyear without payment of compensation, other than under normal statutoryobligations.Biographical details of the Directors and senior management are set out onpages 33 to 39 of this annual report.SERVICE AGREEMENTS OF DIRECTORSEach of the executive Directors, namely Mr. Wang Ning, Ms. Liu Ran and Mr.Si De, has entered into a service agreement with the Company for a termof three years commencing from the Listing Date, which are subject totermination in accordance with their respective terms. Mr. Moon Duk Il hasentered into a service agreement with the Company for a term of three yearcommencing from his appointment, which are subject to termination inaccordance with his service contact. The service contract will be automaticallyrenewed upon expiration.Each of the non-executive Directors has entered into a service agreementwith the Company under which they agreed to act as non-executive Directorsfor an initial term of three years commencing from the Listing Date, whichmay be terminated by not less than one month’s notice in writing served byeither the non-executive Directors or the Company. The service contract willbe automatically renewed upon expiration.Each of the independent non-executive Directors has signed an appointmentletter with the Company for a term of three years commencing from theListing Date, which may be terminated by not less than one month’s noticein writing served by either the independent non-executive Director or theCompany. The appointment letter will be automatically renewed uponexpiration.
二零二三年年报ANNUAL REPORT 202349REPORT OF DIRECTORS董事会报告书董事的任命须符合组织章程细则下有关董事轮席退任的条文。概无董事订有或拟订立本公司或其任何附属公司于一年内未经支付赔偿（法定赔偿除外）则不可终止的服务协议。独立非执行董事的独立性本公司已接获各独立非执行董事根据上市规则第3.13条所作出有关其独立性的年度确认书。本公司认为，于截至2023年12月31日止年度期间，全体独立非执行董事均属独立人士，且截至最后实际可行日期仍属独立人士。董事资料变动于2024年3月20日，杨女士辞任本公司执行董事，以专注于知识产权营运及产品研发。同日，文德一先生获董事会委任为本公司执行董事。文先生已于2024年3月18日获取上市规则第3.09D条所述的法律意见，内容有关作为上市发行人董事适用的上市规则要求以及向联交所作出虚假声明或提供虚假信息的潜在后果，且彼确认已了解作为上市发行人董事的义务。除本报告所披露者外，概无其他董事及行政总裁资料的变动须根据上市规则第13.51B(1)条予以披露。The appointment of Directors is subject to the provisions of retirement androtation of Directors under the Articles of Association.None of the Directors has or is proposed to have a service agreement whichis not determinable by the Company or any of its subsidiaries within one yearwithout payment of compensation (other than statutory compensation).INDEPENDENCE OF INDEPENDENT NON-EXECUTIVE DIRECTORSThe Company has received from each of the independent non-executiveDirectors an annual confirmation of his independence pursuant to Rule 3.13of the Listing Rules. The Company considers all of the independent non-executive Directors to be independent during the year ended 31 December2023 and remain so as of the Latest Practicable Date.CHANGE OF INFORMATION OF DIRECTORSOn 20 March 2024, Ms. Yang resigned from her position as an executivedirector of the Company, in order to focus on IP operation and productR&D. On the same day, Mr. Moon Duk Il was appointed by the Board as anexecutive director of the Company.Mr. Moon has obtained the legal advice referred to in Rule 3.09D of theListing Rules as regards the requirements under the Listing Rules thatare applicable to him as a director of a listed issuer and the possibleconsequences of making a false declaration or giving false information to theStock Exchange on 18 March 2024, and he has confirmed he understood hisobligations as a director of a listed issuer.Save as disclosed in this report, there are no other changes to the Directors’and chief executive’s information as required to be disclosed pursuant toRule 13.51B(1) of the Listing Rules.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司50REPORT OF DIRECTORS董事会报告书董事及行政总裁于股份、相关股份及债权证的权益及淡仓于2023年12月31日，本公司董事及行政总裁于本公司或其任何相联法团（定义见《证券及期货条例》第XV部）的股份、相关股份及债权证中拥有根据《证券及期货条例》第XV部第7及第8分部已知会本公司及联交所（包括根据《证券及期货条例》的有关条文彼等被当作或视为拥有的权益及淡仓），或根据《证券及期货条例》第352条须予存置的登记册所记录或根据标准守则已另行知会本公司及联交所的权益及淡仓如下：于本公司股份及相关股份的权益附注：(1)于2023年12月31日，本公司合共已发行1,348,243,150股股份。字母「L」代表有关人士于股份的好仓。DIRECTORS’AND CHIEF EXECUTIVE’S INTERESTSAND SHORT POSITIONS IN SHARES, UNDERLYINGSHARES AND DEBENTURESAs at 31 December 2023, the interests and short positions of the Directorsand the chief executive of the Company in the Shares, underlying Shares anddebentures of the Company or any of its associated corporations (within themeaning of Part XV of the SFO) which had been notified to the Companyand the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO(including interests and short positions which they were taken or deemedto have taken under such provisions of the SFO), or which were recordedin the register required to be kept pursuant to section 352 of the SFO or asotherwise notified to the Company and the Stock Exchange pursuant to theModel Code were as follows:Interests in Shares and underlying Shares of the CompanyName of Director董事姓名Capacity/Nature of interest身份╱权益性质Total numberof Shares/underlyingShares held(1)所持股份╱相关股份总数(1)Approximatepercentage ofshareholdinginterest in theCompany (%)(1)占本公司股权概约百分比(%)(1)Mr. Wang Ning王宁先生Beneficiary and founder of a trust; and Interest ofcontrolled corporation(2) (3)信托的受益人及创办人；及受控法团权益(2) (3)676,081,407 (L)50.15%Ms. Yang Tao(5)杨涛女士(5)Interest of spouse(3) (4)配偶权益(3) (4)676,081,407 (L)50.15%Mr. Si De司德先生Founder of a discretionary trust(6); and beneficial owner酌情信托创办人(6)；及实益拥有人12,438,126 (L)0.92%Mr. Tu Zheng屠铮先生Interest of controlled corporation(7)受控法团权益(7)32,910,000 (L)2.44%Mr. He Yu何愚先生Interest of controlled corporation(8)受控法团权益(8)2,088,310 (L)0.15%Notes:(1) As at 31 December 2023, the Company had issued 1,348,243,150 Shares in total.The letter“L”denotes the person’s long position in the Shares.
二零二三年年报ANNUAL REPORT 202351REPORT OF DIRECTORS董事会报告书(2) GWF Holding is a company with limited liability incorporated in the BVI andwholly-owned by UBS Trustees (B.V.I.) Ltd. as trustee for a trust established byMr. Wang Ning (as settlor) for the benefit of Mr. Wang Ning. Mr. Wang Ning isdeemed to be interested in 571,981,960 Shares of our Company held by GWFHolding under the SFO. Tianjin Paqu Holding Limited is a company with limitedliability incorporated under the laws of BVI and of which Mr. Wang Ning is thesole shareholder. Mr. Wang Ning is therefore deemed to be interested in the31,196,420 Shares of our Company held by Tianjin Paqu Holding Limited underthe SFO.(3) Pop Mart Hehuo Holding Limited is a company with limited liability incorporatedunder the laws of BVI and holds 72,903,027 Shares in our Company. Mr. WangNing and Ms. Yang Tao holds 41.99% and 17.81% of the issued share capital of PopMart Hehuo Holding Limited respectively. Both Mr. Wang Ning and Ms. Yang Taoare deemed to be interested in the Shares held by each other due to their spousalrelationship and are therefore deemed to have an interest in the Shares held byPop Mart Hehuo Holding Limited.(4) Ms. Yang Tao is the spouse of Mr. Wang Ning. By virtue of the SFO. Ms. Yang Tao isdeemed to be interested in all the shares held by Mr. Wang Ning.(5) Ms. Yang Tao was resigned as an executive Director of the Company with effectfrom 20 March 2024.(6) Sidsi Holding Limited is an investment holding company incorporated under thelaws of BVI and wholly-owned by TMF (Cayman) Ltd. as trustee of XM Family Trustset up by Mr. Si (as settlor) for the benefit of Mr. Si De. Mr. Si De is deemed to beinterested in 10,933,075 Shares held by Sidsi holding Limited under the SFO.(7) Borchid Phoenix Holding Limited is wholly owned by Shanghai Zhuniao EnterpriseManagement Partnership (Limited Partnership), which is 99.9% and 0.1% ownedby Suzhou Borchid Jichu Venture Capital Partnership (Limited Partnership) andZhoushan Borchid Lizhi Enterprise Management Partnership (Limited Partnership)respectively. Suzhou Borchid Jichu Venture Capital Partnership (LimitedPartnership) is owned as to 1% by Zhoushan Borchid Lizhi Enterprise ManagementPartnership (Limited Partnership), while Zhoushan Borchid Lizhi EnterpriseManagement Partnership (Limited Partnership) is owned as to 69% by Mr. TuZheng. Mr. Tu Zheng is therefore deemed to be interested in the 32,910,000shares in the Company held by Borchid Phoenix Holding Limited by virtue of theSFO.(8) BA Capital Fund III, L.P. is held as to 3% by BA Capital Limited, which is indirectlyowned as to 51% by Mr. He Yu. Mr. He Yu is therefore deemed to be interested inthe 2,088,310 shares of the Company held by BA Capital Limited by virtue of theSFO.(2) GWF Holding为一家于英属维京群岛注册成立的有限公司，由UBS Trustees (B.V.I.) Ltd.全资拥有，而UBS Trustees (B.V.I.) Ltd.以王宁先生作为委托人（以王宁先生为受益人）所创立信托的受托人身份全资拥有。根据《证券及期货条例》，王宁先生被视为于GWF Holding所持本公司571,981,960股股份中拥有权益。Tianjin Paqu Holding Limited为一家根据英属维京群岛法律注册成立的有限公司，而王宁先生为唯一股东。根据《证券及期货条例》，王宁先生因而被视为于Tianjin Paqu HoldingLimited所持本公司31,196,420股股份中拥有权益。(3) Pop Mart Hehuo Holding Limited为一家根据英属维京群岛法律注册成立的有限公司，并于本公司持有72,903,027股股份。王宁先生及杨涛女士分别持有Pop Mart Hehuo Holding Limited已发行股本的41.99%及17.81%。王宁先生及杨涛女士因其配偶关系被视为于彼此持有之股份中拥有权益，因此彼等被视为于Pop Mart Hehuo Holding Limited所持股份中拥有权益。(4)杨涛女士为王宁先生的配偶。根据《证券及期货条例》，杨涛女士被视为于王宁先生持有的所有股份中拥有权益。(5)自2024年3月20日起，杨涛女士已辞任本公司执行董事。(6) Sidsi Holding Limited为一家根据英属维京群岛法律注册成立的投资控股公司，由TMF (Cayman)Ltd.（作为由司德先生（作为委托人）以其本身为受益人设立的XM Family Trust的受托人）全资拥有。根据《证券及期货条例》，司德先生被视为于Sidsiholding Limited持有的10,933,075股股份中拥有权益。(7) Borchid Phoenix Holding Limited由上海朱鸟企业管理合伙企业（有限合伙）全资拥有，而上海朱鸟企业管理合伙企业（有限合伙）分别由SuzhouBorchid Jichu Venture Capital Partnership (LimitedPartnership)及Zhoushan Borchid Lizhi EnterpriseManagement Partnership (Limited Partnership)拥有99.9%及0.1%。Suzhou Borchid Jichu VentureCapital Partnership (Limited Partnership)由Zhoushan Borchid Lizhi Enterprise ManagementPartnership (Limited Partnership)拥有1%，而Zhoushan Borchid Lizhi Enterprise ManagementPartnership (Limited Partnership)由屠铮先生拥有69%。根据《证券及期货条例》，屠铮先生因而被视为于Borchid Phoenix Holding Limited所持本公司32,910,000股股份中拥有权益。(8) BA Capital Fund III, L.P.由BA Capital Limited持有3%，而BA Capital Limited由何愚先生间接拥有51%。根据《证券及期货条例》，何愚先生因而被视为于BA Capital Limited所持本公司2,088,310股股份中拥有权益。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司52REPORT OF DIRECTORS董事会报告书除上文所披露者外，于2023年12月31日，概无本公司董事于本公司或其任何相联法团（定义见《证券及期货条例》第XV部）的股份、相关股份或债权证中拥有或被视为拥有任何根据《证券及期货条例》第XV部第7及第8分部须知会本公司及联交所（包括根据《证券及期货条例》的有关条文彼等被当作或视为拥有的权益及淡仓），或须记入根据《证券及期货条例》第352条须由本公司存置的登记册，或根据标准守则须知会本公司及联交所的权益或淡仓。主要股东于股份及相关股份的权益及淡仓于2023年12月31日，据本公司董事及行政总裁所知，下列人士（本公司董事及行政总裁除外）于股份或相关股份拥有根据《证券及期货条例》第XV部第2及第3分部须向本公司披露或根据《证券及期货条例》第336条须由本公司存置的登记册所记录的权益或淡仓：于本公司股份及相关股份的权益附注：(1)于2023年12月31日，本公司合共已发行1,348,243,150股股份。字母「L」代表有关人士于股份的好仓。Save as disclosed above, as at 31 December 2023, none of the Directors ofthe Company had or was deemed to have any interest or short positionin the Shares, underlying Shares or debentures of the Company or anyof its associated corporations (within the meaning of Part XV of the SFO)which was required to be notified to the Company and the Stock Exchangepursuant to Divisions 7 and 8 of Part XV of the SFO (including interests andshort positions which they were taken or deemed to have taken under suchprovisions of the SFO), or which were required to be recorded in the registerto be kept by the Company under Section 352 of the SFO, or which wererequired to be notified to the Company and the Stock Exchange pursuant tothe Model Code.SUBSTANTIAL SHAREHOLDERS’INTERESTS ANDSHORT POSITIONS IN SHARES AND UNDERLYINGSHARESAs at 31 December 2023, to the best knowledge of the Directors or chiefexecutives of the Company, the following persons (not being a Directoror chief executive of the Company) had interests or short positions in theShares or underlying Shares which fall to be disclosed to the Company underthe provisions of Divisions 2 and 3 of Part XV of the SFO as recorded in theregister required to be kept by the Company pursuant to section 336 of theSFO:Interests in Shares and underlying Shares of the CompanyName of Shareholder股东名称Capacity/Nature of interest身份╱权益性质Total numberof Shares/underlyingShares held(1)所持股份╱相关股份总数(1)Approximatepercentage ofshareholdinginterest in theCompany (%)(1)占本公司股权概约百分比(%)(1)UBS Trustees (B.V.I.) LimitedTrustee(2)受托人(2)571,981,960 (L)42.42%GWF Holding LimitedBeneficial owner(2)实益拥有人(2)571,981,960 (L)42.42%Pop Mart Hehuo Holding LimitedBeneficial owner(3)实益拥有人(3)72,903,027 (L)5.41%DFZQ东方证券股份有限公司Interest of controlled corporation(4)受控法团权益(4)69,574,800 (L)5.16%Notes:(1) As at 31 December 2023, the Company had issued 1,348,243,150 Shares in total.The letter“L”denotes the person’s long position in the shares.
二零二三年年报ANNUAL REPORT 202353REPORT OF DIRECTORS董事会报告书(2) GWF Holding为一家于英属维京群岛注册成立的有限公司，由UBS Trustees (B.V.I.) Ltd.全资拥有，而UBS Trustees (B.V.I.) Ltd.以王宁先生作为委托人（以王宁先生为受益人）所创立信托的受托人身份全资拥有。根据《证券及期货条例》，王宁先生被视为于GWF Holding所持本公司571,981,960股股份中拥有权益。Tianjin Paqu Holding Limited为一家根据英属维京群岛法律注册成立的有限公司，而王宁先生为唯一股东。根据《证券及期货条例》，王宁先生因而被视为于Tianjin Paqu HoldingLimited所持本公司31,196,420股股份中拥有权益。(3) Pop Mart Hehuo Holding Limited为一家根据英属维京群岛法律注册成立的有限公司，并于本公司持有72,903,027股股份。王宁先生及杨涛女士分别持有Pop Mart Hehuo Holding Limited已发行股本的41.99%及17.81%。王宁先生及杨涛女士因其配偶关系被视为于彼此持有之股份中拥有权益，因此彼等被视为于Pop Mart Hehuo Holding Limited所持股份中拥有权益。(4)东方证券股份有限公司为一家于中国注册成立的股份有限公司。根据《证券及期货条例》，东方证券股份有限公司被视为于上海东方证券资产管理有限公司持有的69,574,800股股份中拥有权益。除上文所披露者外，于2023年12月31日，本公司尚未接获任何其他人士（本公司董事除外）通知，表示其于本公司股份或相关股份拥有根据《证券及期货条例》第XV部第2及第3分部须予披露，或须记入根据《证券及期货条例》第336条须由本公司存置的登记册的权益或淡仓。董事收购股份或债权证的权利除本年报另行披露者外，本公司或其任何附属公司于年内任何时间概无订立任何安排以使董事可藉收购本公司或任何其他法团的股份或债权证而获得利益，且概无董事或任何彼等的配偶或未满18岁子女获授任何认购本公司或任何其他法团的股权或债权证的权利或已经行使任何有关权利。发行债权证截至2023年12月31日止年度，本公司并无发行任何债权证。(2) GWF Holding is a company with limited liability incorporated in the BVI andwholly-owned by UBS Trustees (B.V.I.) Ltd. as trustee for a trust established byMr. Wang Ning (as settlor) for the benefit of Mr. Wang Ning. Mr. Wang Ning isdeemed to be interested in 571,981,960 Shares of our Company held by GWFHolding under the SFO. Tianjin Paqu Holding Limited is a company with limitedliability incorporated under the laws of BVI and of which Mr. Wang Ning is thesole shareholder. Mr. Wang Ning is therefore deemed to be interested in the31,196,420 Shares of our Company held by Tianjin Paqu Holding Limited underthe SFO.(3) Pop Mart Hehuo Holding Limited is a company with limited liability incorporatedunder the laws of BVI and holds 72,903,027 Shares in our Company. Mr. WangNing and Ms. Yang Tao holds 41.99% and 17.81% of the issued share capital of PopMart Hehuo Holding Limited respectively. Both Mr. Wang Ning and Ms. Yang Taoare deemed to be interested in the Shares held by each other due to their spousalrelationship and are therefore deemed to have an interest in the Shares held byPop Mart Hehuo Holding Limited.(4) DFZQ (东方证券股份有限公司) is a joint stock company incorporated in the PRCwith limited liability. DFZQ is deemed to be interested in 69,574,800 Shares heldby Shanghai Orient Securities Asset Management Co., Ltd. under the SFO.Save as disclosed above, as at 31 December 2023, the Company had not beennotified by any other persons (other than the Directors of the Company) whohad an interest or short position in the Shares or underlying Shares of theCompany which would fall to be disclosed under Divisions 2 and 3 of Part XVof the SFO, or which were required to be entered in the register required tobe kept by the Company pursuant to Section 336 of the SFO.DIRECTORS’RIGHTS TO ACQUIRE SHARES ORDEBENTURESSave as otherwise disclosed in this annual report, at no time during the year,was the Company or any of its subsidiaries a party to any arrangement thatwould enable the Directors to acquire benefits by means of acquisition ofShares in, or debentures of, the Company or any other body corporate, andnone of the Directors or any of their spouses or children under the age of 18were granted any right to subscribe for the equity or debt securities of theCompany or any other body corporate or had exercised any such right.ISSUANCE OF DEBENTURESDuring the year ended 31 December 2023, no issuance of debentures wasmade by the Company.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司54REPORT OF DIRECTORS董事会报告书董事及控股股东于竞争业务的权益据董事会所知，截至2023年12月31日止年度，董事、彼等的联系人或控股股东概无于任何与本集团业务直接或间接竞争或可能竞争的业务中拥有任何权益。持续关连交易合约安排本集团订立根据上市规则第14A章构成非豁免持续关连交易的一系列合约安排。背景本公司不得直接拥有葩趣互娱的任何股权。因此，为使本集团有效控制及享有葩趣互娱全部经济利益，北京泡泡玛特、葩趣互娱及相关股东已订立一系列合约安排。合约安排使我们能够(i)获得葩趣互娱的绝大部分经济利益，作为北京泡泡玛特向葩趣互娱提供服务的代价；(ii)对葩趣互娱行使实际控制权；及(iii)在中国法律允许的情况下及在其允许的范围内持有购买葩趣互娱全部或部分股权的独家购买权。下列简化图表说明于完成重组后，根据合约安排所订明的葩趣互娱对本集团的经济利益流向：北京泡泡玛特“___”指于股权中的法定和实益所有权“......”指合约安排葩趣互娱相关股东(3)100%(2)(1)(1)(1)北京泡泡玛特提供软件开发及其他技术咨询服务，以从葩趣互娱取得服务费。DIRECTORS’AND CONTROLLING SHAREHOLDERSINTERESTS IN COMPETING BUSINESSESTo the knowledge of the Board, none of the Directors, their associates or thecontrolling shareholders had any interests in any business which competesor is likely to compete, directly or indirectly, with the businesses of the Groupfor the year ended 31 December 2023.CONTINUING CONNECTED TRANSACTIONSContractual ArrangementsThe Group entered into a series of Contractual Arrangements which wouldconstitute non-exempt continuing connected transactions pursuant toChapter 14A of the Listing Rules.BackgroundThe Company is prohibited from directly owning any equity interest in PaquHuyu. Therefore, in order for our Group to effectively control and enjoy theentire economic benefit of Paqu Huyu, a series of Contractual Arrangementshave been entered into among Beijing Pop Mart, Paqu Huyu, and theRelevant Shareholders. The Contractual Arrangements enable us to (i) receivesubstantially all of the economic benefits from Paqu Huyu in consideration forthe services provided by Beijing Pop Mart to Paqu Huyu; (ii) exercise effectivecontrol over Paqu Huyu; and (iii) hold an exclusive option to purchase all orpart of the equity interests in Paqu Huyu when and to the extent permittedby PRC law.The following simplified diagram illustrates the flow of economic benefitsfrom Paqu Huyu to our Group stipulated under the Contractual Arrangementsafter completion of the Reorganization:(1) Beijing Pop Mart provides software development and other technical consultationservices in exchange for service fees from Paqu Huyu.Beijing Pop Mart“___” denotes legal and beneficial ownership in the equity interest“......” denotes the Contractual ArrangementsPaqu HuyuRelevantShareholders(3)100%(2)(1)(1)
二零二三年年报ANNUAL REPORT 202355REPORT OF DIRECTORS董事会报告书(2)相关股东以北京泡泡玛特为受益人订立独家购买权协议，以收购葩趣互娱全部股权及╱或资产。相关股东向北京泡泡玛特质押（作为第一押记）彼等各自于葩趣互娱的全部股权，作为彼等支付结欠北京泡泡玛特的任何或所有款项并确保彼等履行于独家咨询和服务协议、独家购买权协议、股东表决权委托协议及授权书项下责任的抵押品。相关股东以北京泡泡玛特为受益人订立股东表决权委托协议及授权书。(3)王宁先生持有葩趣互娱91.56%股份。27名其他股东合共持有葩趣互娱8.44%股份，包括宋泉先生(0.31%)、吴忠福先生(0.31%)、赵建宜先生(0.31%)、周丽霞女士(0.31%)、肖杨先生(0.31%)、麦刚先生(0.31%)、杨镜冰先生(0.31%)、李双双女士(0.31%)、王培先生(0.31%)、于春晓女士(0.31%)、陈华先生(0.31%)、杨桂芳女士(0.31%)、马红红女士(0.31%)、尹巍先生(0.31%)、司德先生(0.31%)、杨涛女士(0.31%)、周立峰先生(0.31%)、程富先生(0.31%)、张超先生(0.31%)、吴毅先生(0.31%)、邢宗宇先生(0.31%)、杨积敢先生(0.31%)、于晶女士(0.31%)、胡健先生(0.31%)、蔡晓东先生(0.31%)、宣毅郎先生(0.31%)及刘冉女士(0.31%)。王宁先生及27名其他股东统称「相关股东」。合约安排概要独家购买权协议葩趣互娱及其相关股东于2019年12月18日与北京泡泡玛特订立独家购买权协议（统称「独家购买权协议」），据此，北京泡泡玛特（或其指定的第三方，「指定人士」）将获授一项不可撤销、无条件及独家权利可按名义价购买葩趣互娱全部股权及╱或资产，除非相关政府机关或中国法律要求使用另一金额作为购买价，在此情况下则采用该要求下的最低金额作为购买价。根据相关中国法律法规，相关股东须将彼等已收取的任何购买价款项退还予葩趣互娱。应北京泡泡玛特的要求，在北京泡泡玛特行使其购买权后，相关股东及╱或葩趣互娱将即时无条件转让彼等各自于葩趣互娱的股权及╱或相关资产予北京泡泡玛特或其指定人士。独家购买权协议初步为期10年。倘北京泡泡玛特于独家购买权协议到期前要求延长，则相关股东及葩趣互娱须应北京泡泡玛特要求签订新独家购买权协议或继续履行独家购买权协议项下的责任。(2) The Relevant Shareholders executed an exclusive option agreement in favourof Beijing Pop Mart, for the acquisition of 100% of the equity interests and/orassets in Paqu Huyu. The Relevant Shareholders pledged as first charge all of theirrespective equity interests in Paqu Huyu to Beijing Pop Mart as collateral securityfor any or all of their payments due to Beijing Pop Mart and to secure performanceof their obligations under the Exclusive Consultation and Service Agreement,the Exclusive Option Agreement and the Voting Rights Proxy Agreement andPowers of Attorney. The Relevant Shareholders executed the Voting Rights ProxyAgreement and Powers of Attorney in favour of Beijing Pop Mart.(3) Mr. Wang Ning holds 91.56% of the shares of Paqu Huyu. 27 other shareholdershold an aggregate of 8.44% of the shares of Paqu Huyu, including Mr. Song Quan(0.31%), Mr. Wu Zhongfu (0.31%), Mr. Zhao Jianyi (0.31%), Ms. Zhou Lixia (0.31%),Mr. Xiao Yang (0.31%), Mr. Mai Gang (0.31%), Mr. Yang Jingbing (0.31%), Ms. LiShuangshuang (0.31%), Mr. Wang Pei (0.31%), Ms. Yu Chunxiao (0.31%), Mr. ChenHua (0.31%), Ms. Yang Guifang (0.31%), Ms. Ma Honghong (0.31%), Mr. Yin Wei(0.31%), Mr. Si De (0.31%), Ms. Yang Tao (0.31%), Mr. Zhou Lifeng (0.31%), Mr.Cheng Fu (0.31%), Mr. Zhang Chao (0.31%), Mr. Wu Yi (0.31%), Mr. Xing Zongyu(0.31%), Mr. Yang Jigan (0.31%), Ms. Yu Jing (0.31%), Mr. Hu Jian (0.31%), Mr. CaiXiaodong (0.31%), Mr. Xuan Yilang (0.31%) and Ms. Liu Ran (0.31%). Mr. WangNing and the 27 other shareholders are collectively referred to as the“RelevantShareholders”.Summary of the Contractual ArrangementsExclusive Option AgreementPaqu Huyu and its Relevant Shareholders entered into an exclusive optionagreement with Beijing Pop Mart on 18 December 2019 upon completionof the Reorganization (collectively, the“Exclusive Option Agreement”),pursuant to which Beijing Pop Mart (or a third party designated by it, the“designee”) will be granted an irrevocable, unconditional and exclusive rightto purchase 100% of the equity interest in and/or assets of Paqu Huyu for anominal price, unless the relevant government authorities or the PRC lawsrequest that another amount be used as the purchase price, in which casethe purchase price shall be the lowest amount under such request. Subject torelevant PRC laws and regulations, the Relevant Shareholders shall return anyamount of purchase price they have received to Paqu Huyu. At Beijing PopMart’s request, the Relevant Shareholders and/or Paqu Huyu will promptlyand unconditionally transfer their respective equity interests in and/or therelevant assets of Paqu Huyu to Beijing Pop Mart (or its designee) after BeijingPop Mart exercises its purchase right. The Exclusive Option Agreement isfor an initial term of 10 years. The Relevant Shareholders and Paqu Huyushall agree to an extension of the term of the Exclusive Option Agreementif Beijing Pop Mart requests for extension before the expiry, and shall sign anew Exclusive Option Agreement or continue the obligations of the ExclusiveOption Agreement as requested by Beijing Pop Mart.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司56REPORT OF DIRECTORS董事会报告书Exclusive Consultation and Service AgreementPaqu Huyu entered into an Exclusive Consultation and Service Agreementwith Beijing Pop Mart on 18 December 2019 (the“Exclusive Consultationand Service Agreement”), pursuant to which Paqu Huyu will agree toengage Beijing Pop Mart as its exclusive provider of software developmentand promotion, technical support, business cooperation consultation, marketconsultancy, customer management consultancy, public relations andhuman resources consultancy, market research, setting market developmentplans and other relevant consultation and services required by Paqu Huyu,in exchange for service fees. Under these arrangements, Beijing Pop Martmay adjust the service fees at its sole discretion, which will be wired tothe designated account of Beijing Pop Mart upon issuance of paymentnotification by Beijing Pop Mart.Unless terminated by Beijing Pop Mart prior to the expiry of the ExclusiveConsultation and Service Agreement, it is for an initial term of 10 years andmay be extended by Beijing Pop Mart for a term determined by Beijing PopMart, and shall sign a new Exclusive Consultation and Service Agreementor continue the obligations of the Exclusive Consultation and ServiceAgreement as requested by Beijing Pop Mart.Share Pledge AgreementPaqu Huyu, the Relevant Shareholders and Beijing Pop Mart entered intoa share pledge agreement on 18 December 2019 (collectively, the“SharePledge Agreement”). Under the Share Pledge Agreement, the RelevantShareholders will pledge as first charge all of their respective equityinterests in Paqu Huyu to Beijing Pop Mart as collateral security for any orall of their payments due to Beijing Pop Mart and to secure performance oftheir obligations under the Exclusive Consultation and Service Agreement,the Exclusive Option Agreement and the Voting Rights Proxy Agreement.Beijing Pop Mart is entitled to implement the pledge under the Share PledgeAgreement if the above default is not successfully resolved to Beijing PopMart’s satisfaction within 10 days upon the written demand. The pledgesunder the Share Pledge Agreement have been duly registered with therelevant PRC legal authority pursuant to PRC laws and regulations.独家咨询和服务协议葩趣互娱于2019年12月18日与北京泡泡玛特订立独家咨询和服务协议（「独家咨询和服务协议」），据此，葩趣互娱将同意委聘北京泡泡玛特为其软件开发及推广、技术支援、业务合作咨询、市场咨询、客户管理咨询、公共关系及人力资源咨询、市场研究、制定市场开发计划以及葩趣互娱要求的其他相关咨询及服务的独家供应商，以换取服务费。根据该等安排，北京泡泡玛特可全权酌情调整服务费，该等服务费将于北京泡泡玛特发出付款通知后电汇至北京泡泡玛特指定账户。除非由北京泡泡玛特于独家咨询和服务协议到期前终止，否则独家咨询和服务协议初步为期10年，并可由北京泡泡玛特延长，有关期限由北京泡泡玛特厘定，并须应北京泡泡玛特要求签订新独家咨询和服务协议或继续履行独家咨询和服务协议项下的责任。股权质押协议葩趣互娱、相关股东及北京泡泡玛特于2019年12月18日订立股权质押协议（统称「股权质押协议」）。根据股权质押协议，相关股东将向北京泡泡玛特质押（作为第一押记）彼等各自于葩趣互娱的全部股权，作为彼等支付结欠北京泡泡玛特的任何或所有款项及确保彼等履行于独家咨询和服务协议、独家购买权协议及股东表决权委托协议项下责任的抵押品。倘上述违约事件未能于书面要求后10天内以令北京泡泡玛特满意的方式成功解决，则北京泡泡玛特有权实施股权质押协议项下的质押。根据股权质押协议作出的质押已根据中国法律法规向相关中国法律部门妥为办理登记手续。
二零二三年年报ANNUAL REPORT 202357REPORT OF DIRECTORS董事会报告书股东表决权委托协议相关股东、北京泡泡玛特及葩趣互娱于2019年12月18日订立股东表决权委托协议，据此，相关股东将不可撤销、无条件及独家地委任北京泡泡玛特或一名指定人士为彼等的独家代理及授权代表，以代表彼等就与葩趣互娱相关的所有事项行事及行使其作为葩趣互娱登记股东的所有权利。根据授权书，我们透过北京泡泡玛特能够就对葩趣互娱经济表现具有最重大影响的业务活动行使管理控制权。股东表决权委托协议亦规定，为避免潜在利益冲突，倘相关股东为本集团的高级职员或董事，则授权书将以本集团其他无关联的高级职员或董事为受益人授出。一旦北京泡泡玛特行使其于独家购买权协议项下购买葩趣互娱的所有股权或资产的权利，则股东表决权委托协议将于北京泡泡玛特发出30天的书面通知后终止。葩趣互娱无权单方面终止股东表决权委托协议，惟法律所规定者则另作别论。股东表决权委托协议须于到期时终止，除非根据股东表决权委托协议的相关规定予以延长。仅当北京泡泡玛特因重大过失、欺诈、其他非法活动、宣告破产或进入清盘时，股东表决权委托协议方于到期前终止。倘北京泡泡玛特于股东表决权委托协议到期前宣告破产或进行清盘，则股东表决权委托协议将自动终止。尽管订有上述条文，北京泡泡玛特有权于向相关股东及葩趣互娱发出30天书面通知后随时终止股东表决权委托协议。Voting Rights Proxy AgreementA Voting Rights Proxy Agreement has been entered into between theRelevant Shareholders, Beijing Pop Mart and Paqu Huyu on 18 December2019, whereby the Relevant Shareholders will irrevocably, unconditionallyand exclusively appoint Beijing Pop Mart or a designated person as theirexclusive agent and attorney to act on their behalf on all matters concerningPaqu Huyu and to exercise all of their rights as a registered shareholder ofPaqu Huyu. As a result of the Powers of Attorney, we, through Beijing PopMart, is able to exercise management control over the activities that mostsignificantly impact the economic performance of Paqu Huyu. The VotingRights Proxy Agreement also provided that, in order to avoid potentialconflicts of interest, where the Relevant Shareholders are officers or directorsof our Group, the powers of attorney are granted in favor of other unrelatedofficers or the Directors of our Group.The Voting Rights Proxy Agreement shall terminate upon 30 days of writtennotice given by Beijing Pop Mart once Beijing Pop Mart has exercised its rightto purchase all equity interest or assets of Paqu Huyu under the ExclusiveOptions Agreement. Paqu Huyu has no right to unilaterally terminate theVoting Rights Proxy Agreement unless provided by law. The Voting RightsProxy Agreement shall terminate upon expiry, unless extended based onrelevant provisions of the Voting Rights Proxy Agreement. The Voting RightsProxy Agreement shall terminate prior to expiry only when Beijing Pop Marthas committed gross negligence, fraud, other illegal activities, declaresbankrupt or enters into liquidation. Shall Beijing Pop Mart declare bankruptor enters into liquidation prior to the expiry of the Voting Rights ProxyAgreement, the Voting Rights Proxy Agreement shall terminate automatically.Despite the provisions mentioned, Beijing Pop Mart has the power toterminate the Voting Rights Proxy Agreement at any time given 30 days ofwritten notice to the Relevant Shareholders and Paqu Huyu.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司58REPORT OF DIRECTORS董事会报告书Spouse UndertakingsEach of the spouses of the Relevant Shareholders executed an irrevocableundertaking on 18 December 2019, whereby he/she expressly and irrevocablyacknowledged and undertook that (i) any equity interests held by his/herspouse as a registered shareholder in Paqu Huyu do not fall within the scopeof their communal properties; (ii) he/she will not take any measures that arein conflict with the Contractual Arrangements; and (iii) he/she had neverparticipated and will not participate in the operation or management of PaquHuyu.Business Activities of Paqu Huyu and Significance to the GroupOur growth could be attributed to our dedication to promoting pop toyculture and have attracted a premium and passionate fan base. We havemembership program to build our fan community, enhance its loyalty, andincentivize repeat purchases through a variety of membership benefits.Through our membership program, we are also able to communicate withour fans in a frequent, efficient and real time manner. We are exploring newand fun ways to develop a comprehensive community with our fans and ouronline community, including online culture services and internet informationservices. In order to expand, we launched Paqu Huyu whose principalbusiness activities are to conduct online culture services and internetinformation services to our fans and community (collectively, the“RelevantBusinesses”).Reasons for Adoption of the Contractual ArrangementsThe Relevant Businesses of Paqu Huyu are subject to foreign investmentrestrictions in accordance with relevant PRC laws and regulations. PaquHuyu currently holds an ICP License and an ICB License, which are requiredfor the operation of the Relevant Businesses. After consultation with ourPRC Legal Advisor, we determined that it was not viable for our Group todirectly hold any equity ownership in Paqu Huyu. Instead, we decided that,in line with common practice in industries in the PRC subject to foreigninvestment restrictions, we would gain effective control over, and receive allthe economic benefits generated by the business currently operated by PaquHuyu through the Contractual Arrangements between Beijing Pop Mart, awholly-owned subsidiary of our Company established in the PRC, on the onehand, and Paqu Huyu and the Relevant Shareholders, on the other hand.配偶承诺函相关股东各自的配偶于2019年12月18日签立不可撤销的承诺函，据此，彼明确及不可撤销地承认并承诺(i)其配偶（作为登记股东）于葩趣互娱所持有的任何股权不属于夫妻共有财产的范畴；(ii)彼不会采取与合约安排有冲突之任何行动；及(iii)彼从未亦将不会参与葩趣互娱的营运或管理。葩趣互娱的业务活动及对本集团的重要性我们的增长可归功于我们致力推广潮流玩具文化，吸引了优质和热情的粉丝群。我们已制定会员计划，以建立我们的粉丝社区、提高忠诚度，并透过各种会员福利刺激重复购买。透过我们的会员计划，我们亦能够以频繁、高效及实时的方式与粉丝沟通。我们正在探索新颖有趣的方式与粉丝及我们线上社区建立一个综合社区，包括线上文化服务以及互联网信息服务。为拓展业务，我们推出葩趣互娱，其主要业务活动为向我们的粉丝及社区提供线上文化服务以及互联网信息服务（统称「相关业务」）。采纳合约安排的理由葩趣互娱的相关业务受相关中国法律法规之外商投资限制规限。葩趣互娱目前持有ICP许可证及ICB许可证，均为营运相关业务所必需的。经咨询我们的中国法律顾问后，我们认为本集团直接持有葩趣互娱的任何股权并不可行。相反，我们认为，根据受外商投资限制规限的中国行业惯例，透过北京泡泡玛特（本公司于中国成立的全资附属公司，作为一方）与葩趣互娱及相关股东（作为另一方）之间的合约安排，我们将获得对葩趣互娱的实际控制权，并取得葩趣互娱目前经营的业务所产生的所有经济利益。
二零二三年年报ANNUAL REPORT 202359REPORT OF DIRECTORS董事会报告书与合约安排有关的风险合约安排涉及若干风险，包括：•倘中国政府发现我们借以在中国建立业务经营架构的协议不符合适用中国法律法规，或该等法规或其诠释日后出现变更，我们或须承受严重后果，包括合约安排失效及放弃我们在葩趣互娱的权益。•我们的合约安排未必会在提供经营控制权方面如直接拥有权一样有效。葩趣互娱或其相关股东可能未能履行彼等于合约安排下的责任。•倘葩趣互娱宣布破产或牵涉解散或清盘程序，我们可能无法使用葩趣互娱所持有对我们的业务经营属重要的资产。•葩趣互娱的相关股东可能与我们存在利益冲突，从而对我们的业务产生重大不利影响。•倘我们行使选择权收购葩趣互娱的股权及资产，所有权或资产转让可能使我们受到若干限制及承担巨额成本。•《外商投资法》的诠释及实施及其可能对我们当前的公司架构、企业管治及业务营运的可行性造成的影响存在巨大不确定性。•我们的合约安排可能受中国税务机关审查，而若发现我们欠缴额外税款，则我们的综合净收入及阁下的投资价值可能大幅减少。有关该等风险的进一步详情，请参阅本公司招股章程「风险因素－与我们的合约安排有关的风险」一节。Risks relating to the Contractual ArrangementsThere are certain risks that are associated with the Contractual Arrangements,including:• If the PRC government finds that the agreements that establish thestructure for operating our businesses in China do not comply withapplicable PRC laws and regulations, or if these regulations or theirinterpretations change in the future, we could be subject to severeconsequences, including the nullification of contractual arrangementsand the relinquishment of our interest in Paqu Huyu.• Our contractual arrangements may not be as effective in providingoperational control as direct ownership. Paqu Huyu or its RelevantShareholders may fail to perform their obligations under our contractualarrangements.• We may lose the ability to use assets held by Paqu Huyu that arematerial to our business operations if Paqu Huyu declare bankruptcy orbecome subject to a dissolution or liquidation proceeding.• The Relevant Shareholders of Paqu Huyu may have conflicts of interestwith us, which may materially and adversely affect our business.• If we exercise the option to acquire equity ownership and assets ofPaqu Huyu the ownership or asset transfer may subject us to certainlimitations and substantial costs.• Substantial uncertainties exist with respect to the interpretation andimplementation of the Foreign Investment Law and how it may impactthe viability of our current corporate structure, corporate governanceand business operations.• Our contractual arrangements may be subject to scrutiny by the PRCtax authorities, and a finding that we owe additional taxes couldsubstantially reduce our consolidated net income and the value of yourinvestment.For further details of these risks, please refer to the section headed“RiskFactors—Risks Related to Our Contractual Arrangements”of the Prospectusof our company.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司60REPORT OF DIRECTORS董事会报告书Our Group has adopted the following measures to ensure the effectiveoperation of our Group with the implementation of the ContractualArrangements and our compliance with the Contractual Arrangements:• major issues arising from the implementation of and compliancewith the Contractual Arrangements or any regulatory enquiries fromgovernment authorities will be submitted to our Board, if necessary, forreview and discussion as and when they arise;• our Board will review the overall performance of and compliance withthe Contractual Arrangements at least once a year;• our Company will disclose the overall performance of and compliancewith the Contractual Arrangements in our annual reports; and• our Company will engage external legal advisers or other professionaladvisers, if necessary, to assist the Board to review the implementationof the Contractual Arrangements, review the legal compliance of BeijingPop Mart and Paqu Huyu to deal with specific issues or matters arisingfrom the Contractual Arrangements.Material ChangesAs of the Latest Practicable Date, there were no material changes in theContractual Arrangements and/or the circumstances under which theContractual Arrangements were adopted.Unwinding of the Contractual ArrangementsAs of the Latest Practicable Date, there has not been any unwinding of anyContractual Arrangements, nor has there been any failure to unwind anyContractual Arrangements when the restrictions that led to the adoption ofthe Contractual Arrangements are removed.本集团已采取以下措施，确保通过实施合约安排及遵守合约安排维持本集团的有效营运：•实施及遵守合约安排或政府机构的任何监管查询引起的重大事宜将于发生时提交董事会（如需要）审阅及讨论；•董事会将最少每年一次审视合约安排的整体履行及遵守情况；•本公司将于年报披露合约安排的整体履行及遵守情况；及•如有需要，本公司将委聘外聘法律顾问或其他专业顾问，协助董事会审视合约安排的实施情况，以及审视北京泡泡玛特及葩趣互娱处理合约安排引起的特定事件或事宜的合规情况。重大变动截至最后实际可行日期，合约安排及╱或采用合约安排的情况概无重大变动。解除合约安排截至最后实际可行日期，概无任何合约安排被解除或在导致采用合约安排的限制被移除的情况下未能解除任何合约安排。
二零二三年年报ANNUAL REPORT 202361REPORT OF DIRECTORS董事会报告书确认独立非执行董事已审视合约安排并确认(i)概无于报告期内进行的交易未有根据合约安排相关条款订立；(ii)葩趣互娱并无向相关股东作出其后未有以其他方式指让或转让予本集团的股息或其他分派；(iii)于报告期内，本集团与葩趣互娱之间并无订立、重续或续订新合约；及(iv)合约安排乃于本集团一般及正常业务过程中按一般商业条款订立，就本集团而言属公平合理，且符合本公司及其股东的整体利益。截至2023年12月31日止年度，根据独家咨询和服务协议，葩趣互娱并无向北京泡泡玛特支付服务费。根据合约安排，截至2023年12月31日止年度葩趣互娱的收益及亏损净额分别约为人民币0百万元及人民币1.4百万元。根据合约安排，截至2023年12月31日止年度葩趣互娱的总资产及总负债分别约为人民币0.8百万元及人民币1.6百万元。本公司核数师于致董事会函件中确认，就上述持续关连交易而言：(i)未留意到任何事项导致彼等认为该等已披露持续关连交易尚未经董事会批准；(ii)未留意到任何事项导致彼等认为该等该等交易未在所有重大方面按照规管该等交易的相关协议而订立；及(iii)未留意到任何事项致使彼等认为葩趣互娱对其股权持有人所派付股息或所作其他分派其后并未转拨或转让予本集团。ConfirmationsOur Independent non-executive Directors have reviewed the ContractualArrangements and confirmed that (i) no transaction has been carriedout during the Reporting Period which have not been entered into inaccordance with the relevant provisions of the Contractual Arrangements;(ii) no dividends or other distributions have been made by Paqu Huyu tothe Relevant Shareholders which are not otherwise subsequently assignedor transferred to our Group; (iii) no new contract has been entered into,renewed or reproduced between our Group and Paqu Huyu during theReporting Period; and (iv) the Contractual Arrangements had been enteredinto in the ordinary and usual course of business of our Group, and are onnormal commercial terms and are fair and reasonable so far as our Groupis concerned, and in the interest of our Company and its Shareholders as awhole.No service fee was paid by Paqu Huyu to Beijing Pop Mart pursuant tothe Exclusive Consultation and Service Agreement for the year ended 31December 2023. The revenue and net loss of Paqu Huyu subject to theContractual Arrangements amounted to approximately RMB0 million andRMB1.4 million for the year ended 31 December 2023, respectively. Thetotal assets and total liabilities of Paqu Huyu subject to the ContractualArrangements amounted to approximately RMB0.8 million and RMB1.6million as at 31 December 2023, respectively.The auditor of the Company confirmed in a letter to the Board that, withrespect to the aforesaid continuing connected transactions:(i) nothing has come to their attention that causes them to believe that thedisclosed continuing connected transactions have not been approvedby the Board;(ii) nothing has come to their attention that causes them to believe thatthe transactions were not entered into, in all material respects, inaccordance with relevant agreements governing such transactions; and(iii) nothing has come to their attention that causes them to believe thatdividends or other distributions have been made by Paqu Huyu to theholders of the equity interests of Paqu Huyu which are not otherwisesubsequently assigned or transferred to the Group.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司62REPORT OF DIRECTORS董事会报告书RELATED PARTY TRANSACTIONDetails of the related party transactions carried out in the normal courseof business are set out in note 36 to the consolidated financial statements.Save as the related party transactions involving payment of remuneration tocertain Directors, which constitute continuing connected transactions fullyexempt from the connected transaction requirements under Rule 14A.76(1)or Rule 14A.95 of the Listing Rules, during the year ended 31 December 2023,none of these related party transactions constitutes a connected transactionor continuing connected transaction as defined under the Listing Rules. TheCompany has complied with the disclosure requirements under Chapter 14Aof the Listing Rules.CONTINUING DISCLOSURE OBLIGATIONSPURSUANT TO THE LISTING RULESSave as disclosed in the annual report, the Company does not have anydisclosure obligations under Rule 13.20, 13.21 and 13.22 of the Listing Rules.DIRECTORS’INTERESTS IN TRANSACTIONS,ARRANGEMENTS OR CONTRACTS OFSIGNIFICANCESave as disclosed in this report, no Director or an entity connected witha Director was materially interested, either directly or indirectly, in anytransaction, arrangement or contract which is significance in relation to thebusiness of the Group to which the Company or any of its subsidiaries orfellow subsidiaries was a party subsisting during the year ended 31 December2023 or at the end of the year ended 31 December 2023.CONTRACT OF SIGNIFICANCENo contract of significance was entered into between the Company, orone of its subsidiary companies, and a controlling Shareholder or any of itssubsidiaries during the year ended 31 December 2023.MANAGEMENT CONTRACTSNo contracts concerning the management and administration of the wholeor any substantial part of the business of the Company were entered intoor existed during the year ended 31 December 2023 between the Companyand a person other than a Director or any person engaged in the full-timeemployment of the Company.关联方交易于一般正常业务过程中进行的关联方交易详情载于综合财务报表附注36。除涉及向若干董事支付薪酬的关联方交易根据上市规则第14A.76(1)条或第14A.95条构成获全面豁免遵守关连交易规定的持续关连交易外，于截至2023年12月31日止年度期间，概无该等关联方交易构成上市规则所界定的关连交易或持续关连交易。本公司已遵守上市规则第十四A章的披露规定。根据上市规则的持续披露责任除年报所披露者外，本公司根据上市规则第13.20、13.21及13.22条并无任何披露责任。董事于重大交易、安排或合约的权益除本报告披露者外，概无董事或与董事有关连的实体于本公司或其任何附属公司或同系附属公司所订立之任何对本集团业务属重大且于截至2023年12月31日止年度期间或于截至2023年12月31日止年度末仍然生效之交易、安排或合约中直接或间接拥有重大权益。重大合约截至2023年12月31日止年度期间，本公司或其任何附属公司与控股股东或其任何附属公司概无订立任何重大合约。管理合约截至2023年12月31日止年度期间，本公司概无与董事或本公司任何全职雇员以外的人士订立或存在任何有关本公司全部或重大部分业务之管理及行政之合约。
二零二三年年报ANNUAL REPORT 202363REPORT OF DIRECTORS董事会报告书董事的获准许弥偿条文有关董事及高级职员责任保险的获准许弥偿条文（定义见香港法例第622章公司条例）目前有效且于报告期内生效。于截至2023年12月31日止年度及直至最后实际可行日期期间，本公司已安排适当的保险以涵盖董事及高级人员因公司活动所产生针对本公司及其联营公司董事及高级人员的法律诉讼的相关责任。员工、薪酬政策及董事酬金本公司向董事提供具竞争力的薪酬待遇。薪酬待遇乃通过与行业、市场规模、工作量及复杂程度相近的公司进行基准测试厘定。其他酬金乃由董事会参考董事的职责、责任及表现以及本集团的业绩厘定。应付雇员酬金包括薪金、花红及雇员福利计划供款。雇员薪金通常按雇员各自的职位、资历、经验及表现厘定。奖金乃按雇员各自的职位、服务年期及雇员表现计算。为吸引并挽留雇员，我们每年评估提供予雇员的薪酬方案，以确定是否应对基本薪金及花红作出任何调整。根据中国法律法规的要求，我们参与各项政府法定雇员福利计划，包括社会保险基金（即养老金供款计划、医疗保险计划、失业保险计划、工伤保险计划及生育保险计划）及住房公积金。根据中国法律，我们须根据员工薪金、花红及特定津贴的特定百分比向员工福利计划供款，惟以当地政府不时规定的最高金额为限。于截至2023年12月31日止年度，本集团定额供款计划项下供款概无遭没收，且本集团并无动用任何被没收的供款以减少既有供款水平。DIRECTORS’PERMITTED INDEMNITY PROVISIONA permitted indemnity provision (as defined in the Companies Ordinance(Chapter 622 of the Laws of Hong Kong)) in relation to directors’and officers’liability insurance is currently in force and was in force during the ReportingPeriod.The Company has arranged appropriate insurance cover for Directors’and officers’liabilities in respect of legal actions arising out of corporateactivities against the Directors and officers of the Company and its associatedcompanies during the year ended 31 December 2023 and up to the LatestPracticable Date.STAFF, EMOLUMENT POLICY AND DIRECTORS’REMUNERATIONThe Company offers competitive remuneration packages to the Directors.The packages were set by benchmarking with companies in similar industries,companies with similar size in the market, volume and complexity of work.Other emoluments are determined by the Board with reference to theDirectors’duties, responsibilities and performance and the results of theGroup.The remuneration payable to our employees includes salaries, bonuses andemployee benefit plans contributions. The salaries of our employees aregenerally determined by the employees’respective position, qualification,experience and performance. The bonuses are calculated based on ouremployees’respective position, duration of services and performance ofour employees. In order to attract and retain our employees, we assessthe remuneration package offered to our employees on an annual basis todetermine whether any adjustment to the basic salaries and bonus should bemade.As required by PRC laws and regulations, we participate in variousgovernment statutory employee benefit plans, including social insurancefunds, namely a pension contribution plan, a medical insurance plan, anunemployment insurance plan, a work-related injury insurance plan, amaternity insurance plan, and a housing provident fund. We are requiredunder PRC law to contribute to employee benefit plans at specifiedpercentages of the salaries, bonuses and certain allowances of our employeesup to a maximum amount specified by the local government from time totime. During the year ended 31 December 2023, there was no forfeiture ofcontributions under the defined contribution plans of the Group, and therewere no forfeited contributions had been used by the Group to reduce theexisting level of contributions.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司64REPORT OF DIRECTORS董事会报告书我们为所有雇员提供培训计划，以增强雇员与我们业务相关的知识、技能及能力。我们将为所有新员工提供入职培训课程，以使其熟悉本集团，其后根据部门需要及本集团发展战略进行在职培训。而由于我们已制定政策及程序，列明晋升的评估准则，故我们亦为有能力的雇员提供晋升机会。董事及五名最高酬金人士于截至2023年12月31日止年度的酬金详情分别载于综合财务报表附注38和附注33。于截至2023年12月31日止年度期间，本集团并无向任何董事、过往董事或五名最高薪酬人士支付酬金作为吸引其加入本集团或加入后的奖励或离职补偿。有关高级管理人员酬金等级如下表所载列：We provide training programs for all of our employees to enhance ouremployees’knowledge, skills and capability relevant to our business. All ofour new hires will be provided with an induction program to familiarize withthe Group, followed by on-the-job training based on departmental needsand the development strategies of the Group. We also provide promotionopportunities for capable employees as we have policies and proceduressetting out the assessment criteria for promotion.Details of the emoluments of the Directors and five highest paid individualsfor the year ended 31 December 2023 are set out in note 38 and note 33 tothe consolidated financial statements respectively. During the year ended 31December 2023, there were no emoluments paid by the Group to any of theDirectors, past Directors or the five highest paid individuals as an inducementto join, or upon joining the Group, or as compensation for loss of office.The table below shows the emolument of senior management by band:Year ended31 December 2023(Number of SeniorManagement)截至2023年12月31日止年度（高级管理层人数）Year ended31 December 2022(Number of SeniorManagement)截至2022年12月31日止年度（高级管理层人数）Emolument bands (in HKD)酬金范围（以港元计）HKD1,000,001 to HKD1,500,0001,000,001港元至1,500,000港元–2HKD1,500,001 to HKD2,000,0001,500,001港元至2,000,000港元21HKD2,000,001 to HKD2,500,0002,000,001港元至2,500,000港元11HKD4,000,001 to HKD4,500,0004,000,001港元至4,500,000港元–1HKD6,000,001 to HKD6,500,0006,000,001港元至6,500,000港元–1HKD6,500,001 to HKD7,000,0006,500,001港元至7,000,000港元1–HKD8,500,001 to HKD9,000,0008,500,001港元至9,000,000港元1–HKD10,000,001 to HKD10,500,00010,000,001港元至10,500,000港元1–
二零二三年年报ANNUAL REPORT 202365REPORT OF DIRECTORS董事会报告书首次公开发售后股份奖励计划本公司于2020年7月24日（「采纳日期」）有条件采纳并于2023年5月17日（「修订日期」）修订首次公开发售后股份奖励计划。对于董事会根据首次公开发售后股份奖励计划授出的任何奖励（「奖励」），本公司委任恒泰信托（香港）有限公司为首次公开发售后股份奖励计划的受托人（「受托人」），以管理首次公开发售后股份奖励计划，有关奖励可以股份（「奖励股份」）或奖励股份之实际售价以现金的形式归属。于2023年12月31日，首次公开发售后股份奖励计划的剩余期限约为六年零八个月。除另有指明外，本节所用词汇具有本公司日期为2023年4月24日之通函所界定的相同涵义。(a)计划的目的首次公开发售后股份奖励计划的目的为：(i)透过股份所有权、股息及就股份支付的其他分派及╱或提升股份价值令合资格人士的利益与本集团的利益一致；及(ii)鼓励并挽留合资格人士，以就本集团的长期增长及溢利作出贡献。(b)计划的参与者可能被选为首次公开发售后股份奖励计划参与者的合资格人士可为任何个人或公司实体（视情况而定），即(i)雇员参与者；(ii)关联实体参与者；及(iii)服务提供者中的任何一类，其经董事会或其代表全权酌情考虑后对本集团作出贡献或将作出贡献。倘有关个人所在地的法律法规不允许根据首次公开发售后股份奖励计划授予、接受或归属奖励，或董事会或其代表认为，为遵守所在地的适用法律法规将有关个人排除在外乃属必要或适宜，该等个人无权参与首次公开发售后股份奖励计划。POST-IPO SHARE AWARD SCHEMEThe Company conditionally adopted the Post-IPO Share Award Schemeon 24 July 2020 (the“Adoption Date”) and amended on 17 May 2023 (the“Amendment Date”). Our Company appointed Trident Trust Company (HK)Limited as the trustee (the“Trustee”) of the Post-IPO Share Award Schemeto administer the Post-IPO Share Award Scheme with respect to the grant ofany award by the Board (an“Award”) which may vest in the form of Shares(“Award Shares”) or the actual selling price of the Award Shares in cash inaccordance with the Post-IPO Share Award Scheme. As at 31 December 2023,the remaining life of the Post-IPO Share Award Scheme was approximatelysix years and eight months. Unless otherwise stated, capitalized terms used inthis section shall have the same meanings as those defined in the circular ofthe Company dated 24 April 2023.(a) Purpose of the SchemeThe purpose of the Post-IPO Share Award Scheme are: (i) to align theinterests of Eligible Persons with those of the Group through ownershipof Shares, dividends and other distributions paid on Shares and/or theincrease in value of the Shares; and (ii) to encourage and retain eligiblepersons to make contributions to the long-term growth and profits ofthe Group.(b) Participant of the SchemeThe eligible persons who may be selected to become a participant ofthe Post-IPO Share Award Scheme are any individuals, or corporateentities (as the case may be) being any of (i) an Employee Participant; (ii)a Related Entity Participant; and (iii) a Service Provider, who the Board orits delegates considers, in its sole discretion, to have contributed or willcontribute to the Group. No individual who is resident in a place wherethe grant, acceptance or vesting of the Awards pursuant to the Post-IPOShare Award Scheme is not permitted under the laws and regulationsof such place or where, in the view of the Board or its delegates,compliance with applicable laws and regulations in such place makesit necessary or expedient to exclude such individual, shall be entitledto participate in the Scheme and such individual, shall be entitled toparticipate in the Post-IPO Share Award Scheme.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司66REPORT OF DIRECTORS董事会报告书(c) Scheme Limit and Service Provider SublimitThe Company shall not make any further grant of Award whichwill result in the aggregate number of Shares to be issued by theCompany in respect of all grants of options and awards made after theAmendment Date pursuant to the Post-IPO Share Award Scheme andany other schemes adopted by the Company (excluding options orawards lapsed in accordance with relevant scheme rules) to exceed 10%of the total issued and outstanding Shares as at the Amendment Dateunless Shareholders approve a further refreshment of the Scheme Limitor Shareholders’approval is obtained in compliance with the ListingRules.The Company shall not make any further grant of Awards to ServiceProviders which will result in the aggregate number of Shares to beissued by the Company in respect of all grants of options and awardsmade to Service Providers, after the Amendment Date pursuant to thePost-IPO Share Award Scheme and any other schemes adopted bythe Company (excluding options or awards lapsed in accordance withrelevant scheme rules) to exceed 1% of the total issued and outstandingShares as at the Amendment Date unless the Shareholders approve afurther refreshment of the Service Provider Sublimit or Shareholders’approval is obtained in compliance with the Listing Rules.The number of Award Shares available for grant under the Post-IPOShare Award Scheme on 1 January 2023 is 114,034,728. After the Post-IPO Share Award Scheme was amended to fully comply with thecurrently effective Chapter 17 of the Listing Rules, the number of AwardShares available for grant under the Scheme Limit and Service ProviderSublimit as of 31 December 2023 were 131,928,325 and 13,675,901,respectively.No new Shares may be issued in respect of Award Shares granted underthe Post-IPO Share Award Scheme during the year ended 31 December2023 as those Award Shares shall be funded by the Shares previouslyissued to and held by the Trustee. As at the Latest Practicable Date,the total number of Shares available for issue under the Post-IPO ShareAward Scheme is 124,082,961, representing approximately 9.24% of thetotal issued Shares.(c)计划限额及服务提供者分项限额除非股东批准进一步更新计划限额或根据上市规则取得股东批准，否则本公司不得进一步授予任何奖励，以致本公司就所有在修订日期后根据首次公开发售后股份奖励计划以及本公司采纳的任何其他计划授予的购股权及奖励（不包括根据相关计划规则失效的购股权或奖励）发行的股份总数超过修订日期已发行及发行在外股份总数的10%。除非股东批准进一步更新服务提供者分项限额或根据上市规则取得股东批准，否则本公司不得进一步授予服务提供者任何奖励，以致本公司就所有在修订日期后根据首次公开发售后股份奖励计划以及本公司采纳的任何其他计划授予服务提供者的购股权及奖励（不包括根据相关计划规则失效的购股权或奖励）发行的股份总数超过修订日期已发行及发行在外股份总数的1%。于2023年1月1日，根据首次公开发售后股份奖励计划可供授出的奖励股份数量为114,034,728股。经修订首次公开发售后股份奖励计划以全面符合现行生效的上市规则第17章后，截至2023年12月31日，根据计划限额及服务提供者分项限额可供授出的奖励股份数目分别为131,928,325股及13,675,901股。概无新股份会因根据首次公开发售后股份奖励计划于截至2023年12月31日止年度内授予的奖励股份而发行，因为该等奖励股份将由受托人持有的先前发行的股份拨付。于最后实际可行日期，首次公开发售后股份奖励计划项下可供发行的股份总数为124,082,961股，约占已发行股份总数的9.24%。
二零二三年年报ANNUAL REPORT 202367REPORT OF DIRECTORS董事会报告书(d)个别限额倘根据首次公开发售后股份奖励计划及本公司采纳的任何其他计划向选定参与者授出任何奖励将导致于截至有关授出日期（包括该日）止12个月期间向有关人士授出的所有购股权及奖励（不包括根据相关计划规则失效的购股权或奖励）涉及的已发行及将予发行的股份数目合共超过本公司于相关期间已发行及发行在外的股份总数的1%，则有关授出须经股东于股东大会上另行批准，而有关选定参与者及其紧密联系人（或倘选定参与者为关连人士，则为联系人）须放弃投票。(e)授出奖励董事会或计划管理人可不时全权酌情决定以奖励函（「奖励函」）的方式向选定参与者（倘为董事会代表，则为向除本公司董事或高级职员以外的任何选定参与者）授出奖励。奖励函将列明授出日期、奖励涉及的奖励股份数目、归属标准及条件、归属日期以及董事会或计划管理人可能不时认为必要的有关其他详情。选定参与者就申请或接纳奖励毋须支付代价。(d) Individual LimitWhere any grant of Awards to a Selected Participant would resultin the Shares issued and to be issued in respect of all options andawards granted to such person, pursuant to the Post-IPO Share AwardScheme and any other schemes adopted by the Company (excludingoptions or awards lapsed in accordance with relevant scheme rules),in the 12-month period up to and including the date of such grantrepresenting in aggregate over 1% of the total issued and outstandingShares of the Company in issue at the relevant time, such grant mustbe separately approved by Shareholders in general meeting with suchSelected Participant and his/her close associates (or associates if theSelected Participant is a connected person) abstain from voting.(e) Grant of AwardThe Board or the Scheme Administrator may, from time to time, attheir absolute discretion, grant an Award to a selected participant (inthe case of the Board’s delegate(s), to any selected participant otherthan a Director or an officer of our Company) by way of an award letter(the“Award Letter”). The award letter will specify the grant date, thenumber of Award Shares underlying the Award, the vesting criteria andconditions, the vesting date and such other details as the Board or theScheme Administrator may consider necessary.No consideration is payable by the Selected Participant on applicationor acceptance of the Awards.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司68REPORT OF DIRECTORS董事会报告书(f) Vesting PeriodThe Board or the Scheme Administrator may from time to time while thePost-IPO Share Award Scheme is in force and subject to all applicablelaws, determine such vesting criteria and conditions or periods for theAward to be vested hereunder, provided however that the vestingperiod for Awards shall not be less than 12 months, except that anyAwards granted to an Employee Participant may be subject to a shortervesting period, including where:(i) grants of“make whole”Awards to new Employee Participant toreplace awards or options such Employee Participants forfeitedwhen leaving their previous employers;(ii) grants to an Employee Participant whose employment is terminateddue to death or disability or event of force majeure;(iii) grants of Awards which are subject to fulfillment of performancetargets as determined in the conditions of his/her grant;(iv) grants of Awards the timing of which is determined byadministrative or compliance requirements not connected withthe performance of the relevant Employee Participant, in whichcase the Vesting Date may be adjusted to take account of the timefrom which the Award would have been granted if not for suchadministrative or compliance requirements;(v) grants of Awards with a mixed vesting schedule such that theAwards vest evenly over a period of 12 months; or(vi) grant of Awards with a total vesting period of more than 12 months,such as where the Awards may vest by several batches with the firstbatch to vest within 12 months of the grant date and the last batchto vest 12 months after the grant date.(g) Purchase PriceThe purchase price payable (if any) for the Award Shares will be statedin the Award Letter, to be determined by the Board or the SchemeAdministrator in accordance with the purpose of the Post-IPO ShareAward Scheme, taking into account (including but not limited to)the prevailing closing price of the Shares and profile of the selectedparticipant.(f)归属期董事会或计划管理人可在首次公开发售后股份奖励计划生效期间并在符合所有适用法律的情况下，不时决定计划项下待归属奖励的有关归属标准及条件或期限，惟奖励的归属期不得少于12个月，惟授予雇员参与者的任何奖励的归属期可更短，包括以下情况：(i)向新雇员参与者授出「补偿性」奖励，以取代有关雇员参与者离职时失去的奖励或购股权；(ii)授予因身故或残疾或不可抗力事件而被终止雇佣关系的雇员参与者；(iii)授出的奖励受达成其获授予的表现目标所限；(iv)授出奖励的时机由管理或合规要求厘定，与相关雇员参与者的表现无关，在该情况下，归属日期可参考奖励若非因有关管理或合规要求而本已授出的时间进行调整；(v)授出的奖励附带混合归属时间表，令奖励可在12个月期间内平均归属；或(vi)授出的奖励的总归属期超过12个月，例如，奖励可能分多批归属，第一批在授出日期12个月内归属，最后一批在授出日期的12个月后归属。(g)购买价奖励股份的应付购买价（如有）由董事会或计划管理人经计及（包括但不限于）股份当前收市价及选定参与者的条件后根据首次公开发售后股份奖励计划之目的厘定并于奖励函中列明。
二零二三年年报ANNUAL REPORT 202369REPORT OF DIRECTORS董事会报告书During the year ended 31 December 2023, the details of the changes inthe Award Shares granted under the Post-IPO Share Award Scheme areset out below:Number of Award Shares奖励股份数目RelevantParticipant相关参与者Number ofAwardSharesGranted授出奖励股份数目Grant Date授出日期Vesting Period归属期间As at1 January2023于2023年1月1日Grantedduringthe year年内已授出Vestedduringthe year年内已归属Lapsedduringthe year年内已失效Cancelledduringthe year年内已注销As at31 December2023于2023年12月31日Mr. Si De司德先生609,85121 April 20232023年4月21日Vested in tranches within 3years upon the grant date授出日期后3年内分批次归属0609,851152,46300457,388Employees雇员2,683,3264 January 20212021年1月4日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属799,6580501,49617,3840280,778721,2901 April 20212021年4月1日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属490,227047,6430368,81873,766763,2581 June 20212021年6月1日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属509,6940165,06024,6230320,011160,7522 July 20212021年7月2日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属91,209045,6060045,603348,0584 October 20212021年10月4日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属287,0990119,0244,0210164,054113,4893 January 20222022年1月3日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属89,676044,8400044,8361,303,7921 April 20222022年4月1日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属1,303,7920236,320001,067,472102,1644 July 20222022年7月4日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属102,16404,1420098,022407,2774 July 20222022年7月4日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属345,15000110,4480234,702222,3793 October 20222022年10月3日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属222,37907,94300214,436102,90630 December 20222022年12月30日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属102,9060049,983052,9233,679,08321 April 20232023年4月21日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属03,679,083954,649002,724,43468,7097 July 20232023年7月7日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属068,70900068,7094,769,44518 October 20232023年10月18日Vested in tranches within 4years upon the grant date授出日期后4年内分批次归属04,769,44507,46404,761,981截至2023年12月31日止年度，按首次公开发售后股份奖励计划授出之奖励股份的变动详情载列如下：
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司70REPORT OF DIRECTORS董事会报告书Notes:(i) The purchase price of all Award Shares in the table above is nil.(ii) For Mr. Si De, the weighted average closing price of the Shares immediatelybefore the date on which the Award Shares were vested in 2023 wasHKD19.48 per Share.(iii) For employees of the Group, the weighted average closing price of theShares immediately before the date on which the Award Shares were vestedin 2023 was HKD20.95 per Share.(iv) The following grants were made during 2023:Relevant Participant相关参与者Grant Date授出日期Number of AwardShares Granted授出奖励股份数目Closing Price ofShares Immediatelybefore the Grant Date(HK$)于紧接授出日期前之股份收市价（港元）Fair Value ofAwards at the GrantDate per Award Share(HK$)每股奖励股份于授出日期的奖励公平值（港元）Mr. Si De司德先生21 April 20232023年4月21日609,85119.4818.28Employees雇员21 April 20232023年4月21日3,679,08319.4818.287 July 20232023年7月7日68,70917.7017.3818 October 20232023年10月18日4,769,44524.0523.85For more details, please refer to the announcement of the Company dated21 April 2023, 7 July 2023 and 18 October 2023, respectively.(v) All of the grants during the year ended 31 December 2023 were subject tofulfillment of certain individual performance targets stipulated in respectivegrant letters.(vi) Details of the valuation of the Award Shares during the year, including theaccounting standard and policy adopted for the Post-IPO Share AwardScheme, are set out in note 28 to the consolidated financial statements.EQUITY-LINKED AGREEMENTSSave as disclosed in this annual report, no equity-linked agreement wasentered into by the Company at any time during or subsisted at the end ofthe year ended 31 December 2023.CHARITABLE DONATIONSThe donations made by the Group during the year ended 31 December 2023amounted to RMB2.7 million.附注：(i)上表中所有奖励股份的购买价为零。(ii)就司德先生而言，紧接奖励股份于2023年归属日期前的股份加权平均收市价为每股19.48港元。(iii)就本集团雇员而言，紧接奖励股份于2023年归属日期前的股份加权平均收市价为每股20.95港元。(iv)于2023年授出情况如下：有关更多详情，请参阅本公司日期分别为2023年4月21日、2023年7月7日及2023年10月18日的公告。(v)截至2023年12月31日止年度之所有授出须待各自授出函所订明之若干个人绩效目标获达成后方可作实。(vi)有关年内奖励股份估值（包括首次公开发售后股份奖励计划所采用的会计准则及政策）之详情载于综合财务报表附注28。股票挂钩协议除本年报所披露者外，截至2023年12月31日止年度期间或年度结束时，本公司概无订立任何股票挂钩协议。慈善捐款截至2023年12月31日止年度期间，本集团作出的捐款为人民币2.7百万元。
二零二三年年报ANNUAL REPORT 202371REPORT OF DIRECTORS董事会报告书PURCHASE, SALE OR REDEMPTION OF LISTEDSECURITIESDuring the year ended 31 December 2023, the Company repurchased a totalof 19,947,000 shares of the Company on the Stock Exchange at an aggregateconsideration of approximately HK$370,687,990. Particulars of the sharesrepurchased are as follows:Month of Repurchase购回月份No. of SharesRepurchase购回股份数目Price Paid per Share每股支付AggregateConsideration(HK$)总代价（港元）Highest (HK$)最高价（港元）Lowest (HK$)最低价（港元）April4月3,632,60020.0017.0868,758,920May5月5,234,40019.9016.6296,699,024June6月6,350,00018.2816.40110,323,784July7月1,000,00018.5016.6817,539,668October10月1,400,00021.7021.2530,076,960November11月230,00021.6021.204,925,530December12月2,100,00021.2018.7842,364,104Total总计19,947,000370,687,990Save as disclosed above, during the year ended 31 December 2023, neitherthe Company nor any of its subsidiaries or consolidated affiliated entities haspurchased, sold or redeemed any of the Company’s listed securities.USE OF NET PROCEEDS FROM LISTINGThe Shares of the Company were listed on the Main Board of the StockExchange on 11 December 2020 by way of global offering, raised total netproceeds of approximately HK$5,781.7 million (the“Net Proceeds”) from theglobal offering (including the full exercise of the over-allotment option) afterdeducting professional fees, underwriting commissions and other relatedlisting expenses.购买、出售或赎回上市证券于截至2023年12月31日止年度期间，本公司已于联交所购回合共19,947,000股本公司股份，总代价约370,687,990港元。购回股份的具体情况如下：除上文所披露者外，于截至2023年12月31日止年度期间，本公司及其任何附属公司或综合联属实体并无购入、出售或赎回本公司的上市证券。上市所得款项净额用途本公司股份于2020年12月11日通过全球发售在联交所主板上市，经扣除专业费用、包销佣金及其他相关上市开支后，所筹得总所得款项净额（包括悉数行使超额配股权）合共约为5,781.7百万港元（「所得款项净额」）。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司72REPORT OF DIRECTORS董事会报告书诚如招股章程所述，首次公开发售所得款项的拟定用途载列如下：As stated in the Prospectus, the intended uses of the IPO proceeds are setout below:Intended use of Net Proceeds所得款项净额拟定用途Allocation ofNet Proceeds所得款项净额的分配Percentage oftotalNet proceeds占总所得款项净额百分比Amount of NetProceedsunutilized up to31 December2022直至2022年12月31日未动用的所得款项净额金额Amount of NetProceedsutilizedduring 12months ended31 December2023截至2023年12月31日止12个月已动用所得款项净额金额Amount ofNet Proceedsutilized up to31 December2023直至2023年12月31日已动用的所得款项净额金额Balance ofNet Proceedsunutilized as at31 December2023于2023年12月31日的未动用所得款项净额余额Intendedtimetable foruse of theunutilizedNet Proceeds动用未动用所得款项净额的拟定时间表(i) To finance part of our expansion plans of consumer accesschannels and overseas markets用于为我们的消费者触达渠道及海外市场扩展计划拨付部分资金HK$1,734.5 million1,734.5百万港元30.0%HK$508.1 million508.1百万港元HK$244.8 million244.8百万港元HK$1,471.2 million1,471.2百万港元HK$263.3 million263.3百万港元Before31 December20252025年12月31日之前(a) for opening new retail stores用于开设新零售店HK$954.0 million954.0百万港元16.5%––HK$954.0 million954.0百万港元–(b) for opening new roboshops用于开设新机器人商店HK$346.9 million346.9百万港元6.0%HK$162.1 million162.1百万港元HK$77.5 million77.5百万港元HK$262.3 million262.3百万港元HK$84.6 million84.6百万港元(c) for expanding our business into overseas markets用于扩展业务至海外市场HK$433.6 million433.6百万港元7.5%HK$346.0 million346.0百万港元HK$167.3 million167.3百万港元HK$254.9 million254.9百万港元HK$178.7 million178.7百万港元(ii) To fund our potential investments in, acquisitions of andstrategic alliance with companies along the value chain of ourindustry用于为潜在投资、收购本行业价值链上下游公司及与该等公司建立战略联盟拨资HK$1,561.1 million1,561.1百万港元27.0%HK$1,249.3 million1,249.3百万港元－HK$311.8 million311.8百万港元HK$1,249.3 million1,249.3百万港元Before31 December20252025年12月31日之前(iii) To invest in technology initiatives to strengthen ourmarketing and fan engagement efforts, and to enhance thedigitalization of our business用于投资技术举措，以增强我们的营销及粉丝参与力度及提升业务的数字化程度HK$867.2 million867.2百万港元15.0%HK$549.3 million549.3百万港元HK$178.6 million178.6百万港元HK$496.5 million496.5百万港元HK$370.7 million370.7百万港元(a) for talent recruitment用于人才招募HK$173.5 million173.5百万港元3.0%HK$113.4 million113.4百万港元HK$51.0 million51.0百万港元HK$111.1 million111.1百万港元HK$62.4 million62.4百万港元Before31 December20252025年12月31日之前
二零二三年年报ANNUAL REPORT 202373REPORT OF DIRECTORS董事会报告书Intended use of Net Proceeds所得款项净额拟定用途Allocation ofNet Proceeds所得款项净额的分配Percentage oftotalNet proceeds占总所得款项净额百分比Amount of NetProceedsunutilized up to31 December2022直至2022年12月31日未动用的所得款项净额金额Amount of NetProceedsutilizedduring 12months ended31 December2023截至2023年12月31日止12个月已动用所得款项净额金额Amount ofNet Proceedsutilized up to31 December2023直至2023年12月31日已动用的所得款项净额金额Balance ofNet Proceedsunutilized as at31 December2023于2023年12月31日的未动用所得款项净额余额Intendedtimetable foruse of theunutilizedNet Proceeds动用未动用所得款项净额的拟定时间表(b) for acquiring relevant software and hardware toenhance digitalization and establish informationsystems for digital marketing, customer services,logistics, products, supply chain, warehousing,membership, transactions and store management andmarketing用于购买相关软件及硬件以加强数字化，并建立用于数字营销、客户服务、物流、产品、供应链、仓储，会员、交易以及门店管理及营销的信息系统HK$346.9 million346.9百万港元6.0%HK$271.2 million271.2百万港元HK$29.2 million29.2百万港元HK$104.9 million104.9百万港元HK$242.0 million242.0百万港元Before31 December20252025年12月31日之前(c) for optimizing our online marketing efforts, whichprimarily consist of strategically placed advertisement,icons, links and news feeds on third party promotionalplatforms用于优化我们的线上营销工作，主要包括战略性地在第三方推广平台上投放广告、图标、链接及信息推送HK$346.8 million346.8百万港元6.0%HK$164.7 million164.7百万港元HK$98.4 million98.4百万港元HK$280.5 million280.5百万港元HK$66.3 million66.3百万港元Before31 December20252025年12月31日之前(iv) To expand our IP pool用于扩大我们的IP库HK$1,040.7 million1,040.7百万港元18.0%HK$818.7 million818.7百万港元HK$95.8 million95.8百万港元HK$317.8 million317.8百万港元HK$722.9 million722.9百万港元(a) for enhancing our ability to identify outstanding artists用于加强我们物色优秀艺术家的能力HK$260.3 million260.3百万港元4.5%HK$124.9 million124.9百万港元HK$95.8 million95.8百万港元HK$231.2 million231.2百万港元HK$29.1 million29.1百万港元Before31 December20252025年12月31日之前(b) for recruiting talented designers to join our in-housedesign team to enhance our in-house original IPdevelopment capability by providing competitivesalary用于以提供具有竞争力的薪金的方式招募有才华的设计师加入我们的内部设计团队，以增强我们的内部原创IP发掘实力HK$86.6 million86.6百万港元1.5%－－HK$86.6 million86.6百万港元－－
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司74REPORT OF DIRECTORS董事会报告书Intended use of Net Proceeds所得款项净额拟定用途Allocation ofNet Proceeds所得款项净额的分配Percentage oftotalNet proceeds占总所得款项净额百分比Amount of NetProceedsunutilized up to31 December2022直至2022年12月31日未动用的所得款项净额金额Amount of NetProceedsutilizedduring 12months ended31 December2023截至2023年12月31日止12个月已动用所得款项净额金额Amount ofNet Proceedsutilized up to31 December2023直至2023年12月31日已动用的所得款项净额金额Balance ofNet Proceedsunutilized as at31 December2023于2023年12月31日的未动用所得款项净额余额Intendedtimetable foruse of theunutilizedNet Proceeds动用未动用所得款项净额的拟定时间表(c) for acquisitions of popular IPs from to expand our IPpool用于收购受欢迎的IP以扩大我们的IP库HK$693.8 million693.8百万港元12.0%HK$693.8 million693.8百万港元－－HK$693.8 million693.8百万港元Before31 December20252025年12月31日之前(v) Working capital and general corporate purposes营运资金及一般公司用途HK$578.2 million578.2百万港元10.0%－－HK$578.2 million578.2百万港元－－The intended timetable for use of the unutilized Net Proceeds disclosedabove is later than originally planned, due to sufficient cash flow generatedfrom operating activities, cost saving achieved via improved operationalefficiency and prudent investment decision making of the Company. TheGroup will utilise the Net Proceeds of the initial public offering in accordancewith the intended purposes as set out in the Prospectus.COMPLIANCE WITH THE CORPORATE GOVERNANCECODEThe Company is committed to maintaining high corporate governancestandards. Information on the corporate governance practices adopted bythe Company is set out in the Corporate Governance Report on pages 76 to99 of this annual report.AUDIT COMMITTEEThe Audit Committee, together with the management and the externalauditor, had reviewed the accounting policies and practices adopted by theGroup as well as the internal control matters, and had also reviewed theGroup’s consolidated financial statements for the year ended 31 December2023.由于经营活动产生的现金流充足、透过提高营运效率实现成本节约以及本公司审慎的投资决策，上述所披露未动用所得款项净额的拟定时间表晚于原计划。本集团将遵照招股章程所载拟定目的动用首次公开发售所得款项净额。遵守企业管治守则致力维持高企业管治水平。有关本公司采纳的企业管治常规的资料载于本年报第76至99页的企业管治报告。审核委员会审核委员会已连同管理层及外部核数师审阅本集团采纳的会计政策及常规以及内部控制事宜，并已审阅本集团截至2023年12月31日止年度的综合财务报表。
二零二三年年报ANNUAL REPORT 202375REPORT OF DIRECTORS董事会报告书AUDITORThe consolidated financial statements of the Group for the ended 31December 2023 have been audited by PricewaterhouseCoopers.PricewaterhouseCoopers shall retire and being eligible, offer itself for re-appointment, and a resolution to this effect shall be proposed at the AGM.Since the Listing Date, the auditors of the Company have not changed.On behalf of the BoardMr. Wang NingChairman of the BoardHong Kong, 20 March 2024核数师本集团截至2023年12月31日止年度的综合财务报表已由罗兵咸永道会计师事务所审核。罗兵咸永道会计师事务所将于股东周年大会上退任，并合资格应聘续任，就此将于股东周年大会上提呈有关决议案。自上市日期起，本公司核数师并未更换。代表董事会董事会主席王宁先生香港，2024年3月20日
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司76CORPORATE GOVERNANCE REPORT企业管治报告本公司董事会致力维持高水平的企业管治标准。董事会相信，高企业管治标准对于本公司提供框架以保障股东权益、提升企业价值及问责性方面发挥关键作用。除下文所披露偏离守则条文第C.2.1条外，本公司已采纳上市规则附录C1所载企业管治守则的原则及守则条文，并于截至2023年12月31日止年度期间遵守适用守则条文。本公司致力提升适用于其经营行为及业务增长的企业管治常规，并不时审阅该等常规，以保证彼等符合法定及专业标准且与最新发展保持一致。企业宗旨、文化及价值作为中国潮流玩具文化的开拓者及主要推广者，我们以「创造潮流，传递美好」为使命，希望为更多的顾客带来快乐与美好。我们的管理团队以身作则，在日常运营中践行「担当」、「协作」、「极致」、「创新」和「正直」的核心价值理念，提高团队凝聚力，激发团队活力，促使我们在设计上不断突破，以丰富的产品品类满足各类顾客的需求，并最终致力于实现「成为全球领先的潮流文化娱乐公司」的愿景。董事会致力于促进本集团上下共同践行核心价值理念，使其成为我们的企业文化根基，并将我们的使命贯彻于经营活动当中。本集团以稳健的管理体系、严谨的风险控制及有效的内部沟通为基础，积极实践我们的企业文化和价值，使本集团业务得以持续发展，为股东带来长远价值。The Board of the Company is committed to maintaining high corporategovernance standards. The Board believes that high corporate governancestandards are essential in providing a framework for the Company tosafeguard the interests of Shareholders and to enhance corporate value andaccountability.The Company has adopted the principles and code provisions as set out inthe CG Code contained in Appendix C1 to the Listing Rules and compliedwith the applicable code provisions during the year ended 31 December2023, save for deviation from code provision C.2.1 as disclosed below.The Company is committed to enhancing its corporate governance practicesappropriate to the conduct and the growth of its business and to reviewingsuch practices from time to time to ensure that they comply with statutoryand professional standards and align with the latest development.CORPORATE PURPOSE, CULTURE AND VALUESAs a pioneer and key promoter of pop toy culture in China, we hope tobring happiness and joy to more customers with the mission of“To light uppassion and bring joy”. Our management team takes the lead to practice thecore values of“Responsibility”,“Cooperation”,“Perfection”,“Innovation”and“Integrity”in daily operations. By improving team cohesion and stimulatingteam vitality, we are enabled to make continuous breakthroughs in design,so as to meet the needs of various customers with rich product categories.Ultimately, we are committed to realizing our vision of“To be the world’sleading fashion culture and entertainment company”.The Board is committed to promoting the overall implementation of ourcore values across the Group, making them the foundation of our corporateculture and implementing our mission in our business activities. Based ona sound management system, rigorous risk control and effective internalcommunication, the Group actively practices our corporate culture andvalues, so that the Group’s business can continue to develop and bringlong-term value to shareholders.
二零二三年年报ANNUAL REPORT 202377CORPORATE GOVERNANCE REPORT企业管治报告董事会董事会监督本集团的业务、策略性决策及表现，并客观地作出符合本公司最佳利益的决策，以及确保本公司文化与其宗旨、价值观及策略一致。董事会已向本集团高级管理层授权有关本集团日常管理及经营方面的权力及职责。董事会已成立三个董事委员会，包括审核委员会、薪酬委员会及提名委员会，以监督本公司特定范畴的事务。董事会已向董事委员会授权彼等各自职权范围所载的职责。所有董事委员会均获提供充足资源以履行其职责。董事会定期检讨董事向本公司履行职责所需付出的贡献，以及有关董事有否付出足够时间履行职责。董事会组成董事会目前由九名董事组成，包括四名执行董事、两名非执行董事及三名独立非执行董事。于报告期内及直至最后实际可行日期，董事会成员组成列示如下：姓名于本公司职位王宁先生执行董事、董事会主席及行政总裁杨涛女士（于2024年3月20日辞任执行董事）执行董事及副总裁刘冉女士执行董事及副总裁司德先生执行董事、首席运营官文德一先生（于2024年3月20日获委任为执行董事）执行董事、副总裁及国际业务总裁屠铮先生非执行董事何愚先生非执行董事张建君先生独立非执行董事吴联生先生独立非执行董事颜劲良先生独立非执行董事BOARD OF DIRECTORSThe Board oversees the Group’s businesses, strategic decisions andperformance and takes decisions objectively in the best interest of theCompany as well as aligning the Company’s culture with its purpose, valueand strategy.The Board has delegated the authority and responsibilities for day-to-daymanagement and operation of the Group to the senior management of theGroup. To oversee particular aspects of the Company’s affairs, the Boardhas established three Board committees including the Audit Committee,the Remuneration Committee and the Nomination Committee. The Boardhas delegated to the Board committees responsibilities as set out in theirrespective terms of reference. All Board committees are provided withsufficient resources to perform their duties.The Board regularly reviews the contribution required from a Director toperform his/her responsibilities to the Company, and whether the Director isspending sufficient time performing them.Board CompositionThe Board currently comprises nine Directors, consisting of four executiveDirectors, two non-executive Directors and three independent non-executiveDirectors. During the Reporting Period and up to the Latest Practicable Date,the composition of the Board are listed as follows:NamePosition in the CompanyMr. Wang NingExecutive Director, Chairman of the Boardand Chief Executive OfficerMs. Yang Tao(resigned as Executive Directoron 20 March 2024)Executive Director and Vice PresidentMs. Liu RanExecutive Director and Vice PresidentMr. Si DeExecutive Director, Chief Operating OfficerMr. Moon Duk Il(appointed as ExecutiveDirector on 20 March 2024)Executive Director, Vice President andPresident of International BusinessMr. Tu ZhengNon-executive DirectorMr. He YuNon-executive DirectorMr. Zhang JianjunIndependent non-executive DirectorMr. Wu LianshengIndependent non-executive DirectorMr. Ngan King Leung GaryIndependent non-executive Director
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司78CORPORATE GOVERNANCE REPORT企业管治报告The list of Directors (by category) is also disclosed in all corporatecommunications issued by the Company from time to time pursuant tothe Listing Rules. The independent non-executive Directors are expresslyidentified in all corporate communications pursuant to the Listing Rules.The biographical information of the Directors is set out in the section headed“Biographies of Directors and Senior Management”of this annual report.Save as disclosed in the Prospectus and this annual report, to the bestknowledge of the Company, there are no financial, business, family, or othermaterial relationships among members of the Board.Chairman and Chief Executive OfficerCode provision C.2.1 of the CG Code stipulates that the roles of chairmanand chief executive should be segregated and should not be performed bythe same individual. According to the current structure of the Board, thepositions of the Chairman and Chief Executive Officer of the Company areheld by Mr. Wang Ning.The Board believes that this structure will not impair the balance of powerand authority between the Board and the management of the Company,given that: (i) decision to be made by the Board requires approval by at leasta majority of the Directors and that the Board comprises three independentnon-executive Directors out of nine Directors, and the Board believes thereis sufficient check and balance on the Board; (ii) Mr. Wang Ning and theother Directors are aware of and undertake to fulfil their fiduciary duties asDirectors, which require, among other things, that they act for the benefitand in the best interests of the Company and will make decisions of theGroup accordingly; and (iii) the balance of power and authority is ensured bythe operations of the Board which comprises experienced and high caliberindividuals who meet regularly to discuss issues affecting the operations ofthe Group. Moreover, the overall strategic and other key business, financialand operational policies of the Group are made collectively after thoroughdiscussion at both the Board and senior management levels. Finally, as Mr.Wang Ning is our principal founder, the Board believes that vesting the rolesof both chairman and chief executive officer in the same person has thebenefit of ensuring consistent leadership within the Group and enables moreeffective and efficient overall strategic planning for the Group. The Board willcontinue to review the effectiveness of the corporate governance structureof the Group in order to assess whether separation of the roles of chairmanand chief executive officer is necessary.董事名单（按类别划分）亦不时根据上市规则于本公司刊发的所有企业通讯中披露。根据上市规则，所有公司通讯亦已对独立非执行董事作出明确区分。各董事履历资料载于本年报「董事及高级管理层履历」一节。除招股章程及本年报所披露者外，据本公司所深知，董事会成员之间概无财务、业务、家族或其他重大关系。主席及行政总裁根据第C.2.1条守则条文，主席与行政总裁的角色应区别开来，不应由一个人履行。根据董事会现时架构，王宁先生同时担任本公司主席及行政总裁的角色。鉴于以下情况，董事会认为此架构将不会损害董事会与本公司管理层之间的权力平衡及权限分布：(i)董事会作出的决定须至少经大多数董事批准，且董事会九名董事中的三名为独立非执行董事，故董事会认为董事会内有充足权力制衡；(ii)王宁先生及其他董事知悉并承诺履行其作为董事的受信职责，当中要求（其中包括）彼等为本公司的裨益及最佳利益行事，并将据此作出本集团决策；及(iii)董事会的运作确保权力平衡及权限分布，董事会由经验丰富且才华横溢的人士组成，彼等定期开会讨论影响本集团运作的事宜。此外，本集团的整体战略及其他主要业务、财务及营运政策乃于董事会及高级管理层层级进行全面讨论后共同制定。最后，由于王宁先生为我们的主要创始人，故董事会认为，由同一人士担任主席及行政总裁将有利于确保本集团内部领导贯彻一致，令本集团实现更为有效及高效的整体战略规划。董事会将持续检讨本集团企业管治架构的成效，以评估是否有必要分离主席及行政总裁的角色。
二零二三年年报ANNUAL REPORT 202379CORPORATE GOVERNANCE REPORT企业管治报告独立非执行董事于上市日期至最后实际可行日期，董事会一直符合上市规则有关至少委聘三名独立非执行董事，即董事会的三分之一中有一名独立非执行董事须具备适当的专业资格或会计或相关财务管理专长的规定。本公司已根据上市规则第3.13条所载独立性指引，接获各独立非执行董事有关其独立性的年度书面确认书。本公司认为，所有独立非执行董事均为独立人士，并于截至最后实际可行日期一直为独立人士。独立观点董事会已制定机制，以确保可向董事会提供独立观点及意见。董事会确保至少任命三名独立非执行董事，且至少三分之一的董事会成员为独立非执行董事。此外，独立非执行董事将根据上市规则的规定及在实际可行的情况下获委任为董事会委员会成员，以确保可提供独立观点及意见。提名委员会就提名及委任独立非执行董事严格遵守上市规则所载的独立性评估标准，并获授权每年对独立非执行董事的独立性进行评估，以确保其能够持续作出独立判断。全体董事亦可获取独立专业意见，以履行其职能，费用由本公司承担。委任及重选董事各执行董事王宁先生、刘冉女士及司德先生已与本公司订立服务协议，任期自上市日期起计为期三年，并可根据其各自的条款予以终止。文德一先生已与本公司订立服务协议，任期自委任日期起计为期三年，并可根据其服务合约予以终止。服务合约将于届满时自动重续。Independent Non-Executive DirectorsSince the Listing Date to the Latest Practicable Date, the Board at all timesmet the requirements of the Listing Rules relating to the appointment of atleast three independent non-executive Directors representing at least one-third of the Board with one of whom possessing appropriate professionalqualifications or accounting or related financial management expertise.The Company has received written annual confirmation from each of theindependent non-executive Directors in respect of his independence inaccordance with the independence guidelines set out in Rule 3.13 of theListing Rules. The Company is of the view that all independent non-executiveDirectors are independent and remain so as of the Latest Practicable Date.Independent ViewThe Board has established mechanisms to ensure independent viewsand input are available to the Board. The Board ensures the appointmentof at least three independent non-executive directors and at least one-third of its members being independent non-executive directors. Further,independent non-executive directors will be appointed to committeesof the Board as required under the Listing Rules and as far as practicableto ensure independent views and input are available. The NominationCommittee strictly adheres to the independence assessment criteria as setout in the Listing Rules with regard to the nomination and appointment ofindependent non-executive directors, and is mandated to assess annuallythe independence of independent non-executive directors to ensure thatthey can continually exercise independent judgement. All Directors may alsoobtain independent professional advice at the Company’s expense for carryout their functions.Appointment and Re-election of DirectorsEach of the executive Directors, namely Mr. Wang Ning, Ms. Liu Ran and Mr.Si De, has entered into a service agreement with the Company for a termof three years commencing from the Listing Date, which are subject totermination in accordance with their respective terms. Mr. Moon Duk Il hasentered into a service agreement with the Company for a term of three yearcommencing from his appointment, which are subject to termination inaccordance with his service contact. The service contract will be automaticallyrenewed upon expiration.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司80CORPORATE GOVERNANCE REPORT企业管治报告各非执行董事已与本公司订立服务协议，任期自上市日期起计为期三年，并可根据其各自的条款予以终止。服务合约将于届满时自动重续。各独立非执行董事均已接获任命书，任期自上市日期起计为期三年，可由独立非执行董事或本公司发出不少于一个月书面通知终止。任命书将于届满时自动重续。所有董事的任期均受组织章程细则有关董事轮值告退之条文所规限。根据组织章程细则，于本公司各届股东周年大会上，当时三分之一董事（或倘若彼等的数目并非三或三的倍数，则最接近但不少于三分之一的数目）须轮值退任并合资格重新当选连任，惟每名董事（包括获委任于指定任期为董事者）必须至少每三年轮值退任一次。任何人士获董事会委任以填补董事会的临时空缺或增加董事会成员，须任职至本公司下届股东大会时止，并符合资格于股东大会上膺选连任。董事会及管理层的职责、问责及贡献董事会负责领导及控制本公司，并集体负责指导及监督本公司事务。董事会直接及通过其委员会间接领导，并通过制定战略及监督战略的实施向管理层提供指导、监督本集团的营运及财务表现，并确保具备健全的内部控制及风险管理体系。全体董事（包括独立非执行董事）为董事会的高效及有效运作提供广泛的宝贵商业经验、知识及专业精神。独立非执行董事负责确保本公司的高标准监管报告，并在董事会中提供平衡，以就企业行动及营运提出有效的独立判断。Each of the non-executive Directors has entered into a service agreementwith the Company for a term of three years commencing from the ListingDate, which are subject to termination in accordance with their respectiveterms. The service contract will be automatically renewed upon expiration.Each of the independent non-executive Directors was engaged on a letterof appointment for a term of three years commencing from the Listing Date,which may be terminated by not less than one month’s notice in writingserved by either the independent non-executive Director or the Company.The appointment letter will be automatically renewed upon expiration.All Directors will hold office subject to provision of retirement and rotationof directors under the Articles of Association. Pursuant to the Articles ofAssociation, at every annual general meeting of the Company one-third ofthe Directors for the time being (or, if their number is not three or a multipleof three, then the number nearest to but not less than one-third) shallretire from office by rotation and be eligible for re-election, provided thatevery Director (including those appointed for a specific term) is subject toretirement by rotation at least once every three years. Any person appointedby the Board to fill a temporary vacancy on or as an addition to the Boardshall hold office only until the next general meeting of the Company, andshall then be eligible for re-election.Responsibilities, Accountabilities and Contributions of theBoard and ManagementThe Board should assume responsibility for leadership and control of theCompany and is collectively responsible for directing and supervising theCompany’s affairs.The Board directly, and indirectly through its committees, leads and providesdirection to the management by laying down strategies and overseeing theirimplementation, monitors the Group’s operational and financial performance,and ensures that sound internal control and risk management systems are inplace.All Directors, including independent non-executive Directors, havebrought a wide spectrum of valuable business experience, knowledge andprofessionalism to the Board for its efficient and effective functioning. Theindependent non-executive Directors are responsible for ensuring a highstandard of regulatory reporting of the Company and providing a balancein the Board for bringing effective independent judgement on corporateactions and operations.
二零二三年年报ANNUAL REPORT 202381CORPORATE GOVERNANCE REPORT企业管治报告All Directors have full and timely access to all the information of theCompany and may, upon request, seek independent professional advice inappropriate circumstances, at the Company’s expenses for discharging theirduties to the Company.The Directors shall disclose to the Company details of other offices held bythem.The Board reserves for its decisions on all major matters relating to policymatters, strategies and budgets, internal control and risk management,material transactions (in particular those that may involve conflict ofinterests), financial information, appointment of directors and othersignificant operational matters of the Company. Responsibilities relatingto implementing decisions of the Board, directing and co-ordinating thedaily operation and management of the Company are delegated to themanagement.The Board has clearly set out the circumstances under which themanagement should report to and obtain prior approval from the Boardbefore making decisions or entering into any commitments on behalf of theCompany. The Board regularly reviews the above said circumstances andensures they remain appropriate.The Company has arranged appropriate insurance coverage on Directors’andofficers’liabilities in respect of any legal action taken against them arisingout of corporate activities. The insurance coverage would be reviewed on anannual basis.Continuous Professional Development of DirectorsDirectors shall keep abreast of regulatory developments and changes inorder to effectively perform their responsibilities and to ensure that theircontribution to the Board remains informed and relevant.Every newly appointed Director has received a formal and comprehensiveinduction on the first occasion of his/her appointment to ensure appropriateunderstanding of the business and operations of the Company and fullawareness of Director’s responsibilities and obligations under the ListingRules and relevant statutory requirements. Such induction shall besupplemented by visits to the Company’s key place of business and meetingswith senior management of the Company.全体董事均可全面并及时查阅本公司所有资料，以及可按要求于适当情况下征询独立的专业意见，以履行其对本公司的职责，费用由本公司承担。董事应向本公司披露其所担任的其他职务详情。董事会保留就与本公司政策事项、战略及预算、内部控制及风险管理、重大交易（尤其是可能涉及利益冲突的交易）、财务资料、董事任命以及其他重要营运事项有关的所有重大事项的决策权。董事会向管理层授权与执行董事会决策、指导以及协调本公司日常营运及管理有关的职责。董事会已明确规定，管理层于代表本公司作出决策或作出任何承诺前，应先向董事会报告并获得事先批准。董事会定期审阅上述情况，并确保有关安排仍然适当。本公司已就企业活动所引起针对董事及高级管理人员的法律诉讼，作出适当的投保安排。保险范围将每年进行审阅。董事的持续专业发展董事应紧贴监管发展及变动，以便有效履行其职责，并确保其对董事会作出适切贡献。每名新委任董事于其获委任之初均已接受正式全面的入职培训，以确保其对本公司业务及营运有适当了解，并完全知悉其在上市规则及相关法律规定下的职责及责任。此等培训将以参观本公司的主要营业地点并与本公司的高级管理层会面辅助进行。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司82CORPORATE GOVERNANCE REPORT企业管治报告董事应持续参与适当的专业发展以提升及更新自身的知识及技能。本公司将在适当情况下为董事安排内部简介会及向董事发出相关主题的阅读材料。本公司鼓励所有董事出席相关培训课程，费用由本公司承担。截至2023年12月31日止年度期间，本公司为全体董事举办培训课程，课程由法律顾问讲授。培训课程涵盖的相关主题范围广泛，包括董事的职责及责任、持续关连交易、利益披露及法规更新。此外，我们已向董事提供相关阅读材料（包括合规手册╱法律及法规更新╱研讨会讲义），供彼等参考及研读。截至2023年12月31日止年度，董事的培训记录概述如下：Directors should participate in appropriate continuous professionaldevelopment to develop and refresh their knowledge and skills. Internally-facilitated briefings for Directors would be arranged and reading materialson relevant topics would be provided to Directors where appropriate.All Directors are encouraged to attend relevant training courses at theCompany’s expenses.During the year ended 31 December 2023, the Company organized trainingsessions conducted by the legal advisers for all Directors. The trainingsessions covered a wide range of relevant topics including directors’dutiesand responsibilities, continuing connected transaction, disclosure of interestsand regulatory updates. In addition, relevant reading materials includingcompliance manual/legal and regulatory updates/seminar handouts havebeen provided to the Directors for their reference and studying.The training records of the Directors for the year ended 31 December 2023are summarized as follows:Name of Directors董事姓名Attending training,briefings, seminars,conferences and workshopsrelevant to the Company’sindustry and business,director’s duties and/orcorporate governance与本公司行业及业务、董事职责及╱或企业管治有关的培训、简介会、研讨会、会议及工作坊出席情况Reading news alerts,newspapers, journals,magazines and publicationsrelevant to the Company’sindustry and business,director’s duties and/orcorporate governance阅读与本公司行业及业务、董事职责及╱或企业管治有关的新闻快讯、报章、期刊、杂志及出版物Executive Directors执行董事Mr. Wang Ning (Chairman of the Board)王宁先生（董事会主席）√√Ms. Yang Tao(resigned on 20 March 2024)杨涛女士（于2024年3月20日辞任）√√Ms. Liu Ran刘冉女士√√Mr. Si De司德先生√√Non-executive Directors非执行董事Mr. Tu Zheng屠铮先生√√Mr. He Yu何愚先生√√Independent non-executive Directors独立非执行董事Mr. Zhang Jianjun张建君先生√√Mr. Wu Liansheng吴联生先生√√Mr. Ngan King Leung Gary颜劲良先生√√
二零二三年年报ANNUAL REPORT 202383CORPORATE GOVERNANCE REPORT企业管治报告BOARD COMMITTEESThe Board has established three committees namely, the Audit Committee,the Remuneration Committee and the Nomination Committee, each of whichhas been delegated responsibilities and reports back to the Board. The rolesand functions of these committees are set out in their respective terms ofreference. The terms of reference of each of these committees will be revisedfrom time to time to ensure that they continue to meet the needs of theCompany and to ensure compliance with the CG Code where applicable. Theterms of reference of the Audit Committee, the Remuneration Committeeand the Nomination Committee are posted on the Company’s website andthe Stock Exchange’s website and are available to Shareholders upon request.Audit CommitteeThe Audit Committee comprises three members, including two independentnon-executive Directors, namely Mr. Wu Liansheng and Mr. Ngan KingLeung Gary and one non-executive Director, namely Mr. Tu Zheng. Mr. WuLiansheng is the chairman of the Audit Committee.The terms of reference of the Audit Committee are of no less exacting termsthan those set out in the CG Code. The main duties of the Audit Committeeare to assist the Board in reviewing the financial information and reportingprocess, risk management and internal control systems, effectiveness of theinternal audit function, scope of audit and appointment of external auditors,provide advice and comments to the Board and arrangements to enableemployees of the Company to raise concerns about possible improprieties infinancial reporting, internal control or other matters of the Company.During the year ended 31 December 2023, the Audit Committee held threemeetings, during which matters such as reviewing the annual financial resultsand report for the year ended 31 December 2022, reviewing the Group’sunaudited interim results for the six months ended 30 June 2023, discussingthe audit plan for the 2023 financial year with the auditor, significant issueson the financial reporting, operational and compliance controls, effectivenessof the risk management and internal control systems and internal auditfunction.The Audit Committee considers that the annual financial results for the yearended 31 December 2023 are in compliance with the relevant accountingstandards, rules and regulations and appropriate disclosures have been dulymade.The Audit Committee also met the external auditors once without thepresence of the executive Directors.董事委员会董事会已成立三个委员会，即审核委员会、薪酬委员会及提名委员会，其各自已获董事会授权责任并向董事会报告。该等委员会的角色及职能已载列于其各自的职权范围。各委员会的职权范围将不时进行修订，以确保其继续满足本公司的需求，并确保于适当情况下遵守企业管治守则。审核委员会、薪酬委员会及提名委员会的职权范围登载于本公司网站及联交所网站，并可应要求向股东提供。审核委员会审核委员会由三名成员组成，包括两名独立非执行董事（即吴联生先生及颜劲良先生）以及一名非执行董事（即屠铮先生）。吴联生先生为审核委员会主席。审核委员会的职权范围与企业管治守则所载条文一致。审核委员会的主要职责是协助董事会审阅财务资料及报告流程、风险管理及内部控制系统、内部审核职能的有效性、审核范围及委任外部核数师、向董事会提供建议及意见，以及作出安排使本公司雇员能对本公司财务报告、内部控制或其他事项中可能存在的不当行为提出疑虑。于截至2023年12月31日止年度期间，审核委员会举行了三次会议，会议期间处理审阅截至2022年12月31日止年度之年度财务业绩及报告、审阅截至2023年6月30日止六个月本集团未经审核中期业绩及与核数师讨论2023财政年度之审核计划、有关财务报告、营运及合规控制、风险管理及内部控制系统以及内部审核职能有效性的重大问题等事宜。审核委员会认为截至2023年12月31日止年度全年财务业绩符合相关会计准则、规则及规例，并已妥为作出适当披露。审核委员会亦在执行董事不在场的情况下与外部核数师会面。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司84CORPORATE GOVERNANCE REPORT企业管治报告薪酬委员会薪酬委员会由三名成员组成，包括两名独立非执行董事（即张建君先生及吴联生先生）以及一名执行董事（即王宁先生）。张建君先生为薪酬委员会主席。薪酬委员会的职权范围与企业管治守则所载条文一致。薪酬委员会的主要职责包括就个别执行董事及高级管理层的薪酬待遇、全体董事及高级管理层的薪酬政策及架构向董事会提供推荐建议、建立正式透明的程序以制订薪酬政策，确保概无董事或其任何联系人将参与决定其本身的薪酬及╱或批准上市规则第十七章所述有关股份计划的事宜。于截至2023年12月31日止年度期间，薪酬委员会举行了一次会议，会议期间讨论董事及高级管理层的薪酬待遇、政策、架构及其他有关事宜。薪酬委员会亦已审阅及批准于2023年4月21日向司德先生及本公司两名高级管理人员授出奖励，并认为向彼等授出1,626,269份奖励，其中25%归属期少于12个月及无表现目标，乃(i)奖励彼为本公司之发展及增长作出的巨大贡献，(ii)激励彼等于制定本公司战略及长期发展方面进一步提供重要意见及贡献，(iii)符合本公司之薪酬政策，及(iv)符合首次公开发售后股份奖励计划之目的。有关更多详情，请参阅本公司日期为2023年4月21日的公告。Remuneration CommitteeThe Remuneration Committee comprises three members, including twoindependent non-executive Directors, namely Mr. Zhang Jianjun and Mr. WuLiansheng and one executive Directors, namely Mr. Wang Ning. Mr. ZhangJianjun is the chairman of the Remuneration Committee.The terms of reference of the Remuneration Committee are of no lessexacting terms than those set out in the CG Code. The primary functions ofthe Remuneration Committee include making recommendations to the Boardon the remuneration packages of individual executive Directors and seniormanagement, making recommendations to the Board on the Company’sremuneration policy and structure for all Directors and senior management;establishing a formal and transparent procedure for developing remunerationpolicy to ensure that no Director or any of his/her associates will participatein deciding his/her own remuneration and/or approving matters relating toshare schemes under Chapter 17 of the Listing Rules.During the year ended 31 December 2023, the Remuneration Committeeheld one meeting, during which matters such as the remuneration packages,policy and structure of the Directors and senior management and otherrelated matters were discussed.Our Remuneration Committee also reviewed and approved grant ofAwards, on April 21, 2023, to Mr. Si De and two senior management of theCompany, and considered that grant of 1,626,269 Awards to them, of which25% were attached with a vesting period of less than 12 months, and noperformance target, is (i) to reward the great contribution they made to thedevelopment and growth of the Company, (ii) to incentive them to furtherprovide essential opinions and contributions in building the strategy andlong-term development of the Company, (iii) consistent with the Company’sremuneration policy, and (iv) align with the purpose of the Post-IPO ShareAward Scheme. For more details, please refer to the announcement of theCompany dated 21 April 2023.
二零二三年年报ANNUAL REPORT 202385CORPORATE GOVERNANCE REPORT企业管治报告提名委员会提名委员会由三名成员组成，包括一名执行董事（即王宁先生）以及两名独立非执行董事（即张建君先生及吴联生先生）。王宁先生为提名委员会主席。提名委员会的职权范围不比企业管治守则所载者宽松。提名委员会的主要职责包括每年检讨董事会的架构、规模及多元化、就任何为配合本公司企业策略而拟对董事会作出的变动向董事会提供推荐建议、监督董事会成员多元化政策的实施，以及评估独立非执行董事的独立性。于截至2023年12月31日止年度期间，提名委员会举行了一次会议，会议期间讨论董事会架构、规模及组成、向董事会推荐重选董事、评估独立非执行董事的独立性及检讨董事会多元化政策及提名政策。提名委员会认为已维持董事会多元化观点的适当平衡。Nomination CommitteeThe Nomination Committee comprises three members, including oneexecutive Director, namely Mr. Wang Ning and two independent non-executive Directors, namely Mr. Zhang Jianjun and Mr. Wu Liansheng. MrWang Ning is the chairman of the Nomination Committee.The terms of reference of the Nomination Committee are of no less exactingterms than those set out in the CG Code. The principal duties of theNomination Committee include reviewing the structure, size and diversityrequired of the Board annually and making recommendations on anyproposed change to the Board to complement the Company’s corporatestrategy; monitoring the implementation of diversity policy for boardmembers, and assessing the independence of independent non-executiveDirectors.During the year ended 31 December 2023, the Nomination Committee heldone meeting, during which matters such as structure, size and compositionof the Board, making recommendations to the Board on the re-appointmentof Directors, assessing in the independence of independent non-executiveDirectors and reviewing the diversity policy and nomination policy of theBoard were discussed. The Nomination Committee considered an appropriatebalance of diversity perspectives of the Board is maintained.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司86CORPORATE GOVERNANCE REPORT企业管治报告In accordance with the Articles of Association, Directors shall be elected bythe general meeting with a term of three years and may serve consecutiveterms if re-elected. Any person appointed by the Board to fill a temporaryvacancy or as an addition to the Board shall hold office only until the nextgeneral meeting of the Company, and shall then be eligible for re-election.At the expiry of a Director’s term, the Director may stand for re-election andreappointment for further term. Subject to the compliance of the provisionsof the relevant laws and administrative regulations, the general meeting ofthe Shareholders may dismiss by ordinary resolution any Directors of whomthe term of office has not expired (the claim for compensation under anycontracts shall however be not affected).The procedures for the appointment, re-election and removal of directorsare set out in the Articles of Association. The Nomination Committeewill identify individuals suitably qualified to become directors and makerecommendations to the Board on the selection of individuals. TheNomination Committee will determine the composition of board membersbased on a range of diversity perspectives, including but not limited togender, age, cultural and educational background, ethnicity, professionalexperience, skills, knowledge and length of service. The NominationCommittee will also make recommendations to the Board of Directors onthe appointment or re-appointment of directors and succession planning fordirectors (in particular the Chairman of the Board of Directors and the generalmanager), taking into account the Company’s corporate strategy and mix ofskills, knowledge, experience and diversity needed in the future.The Board has adopted the Nomination Policy which sets out the nominationprocedures for selecting candidates for election as Directors of the Boardof the Group. The policy is adopted by the Board and administered by theNomination Committee.根据组织章程细则，董事应于股东大会上以选举产生，任期为三年，可获重选连任。任何人士获董事会委任以填补董事会的临时空缺或增加董事会成员，须任职至本公司下届股东大会时止，并符合资格于股东大会上膺选连任。董事任期届满时，董事可膺选连任及重新委任。在遵守相关法律及行政法规规定的前提下，股东大会可通过普通决议罢免任何任期未届满的董事，惟任何合约项下的赔偿索偿概不受影响。组织章程细则载列委任、重选及罢免董事的程序。提名委员会将物色合适合资格人选担任董事，并就甄选个人向董事会提供推荐建议。提名委员会将根据一系列多元化观点决定董事会成员的组成，包括但不限于性别、年龄、文化及教育背景、种族、专业经验、技能、知识及服务年期。提名委员会亦将考虑本公司企业策略以及日后所需的技能、知识、经验及多元化组合，就委任或重新委任董事以及董事（尤其是董事会主席及总经理）的继任计划向董事会提供推荐建议。董事会亦已采纳提名政策，当中载列甄选本集团董事候选人的提名程序。有关政策经董事会采纳，并由提名委员会管理。
二零二三年年报ANNUAL REPORT 202387CORPORATE GOVERNANCE REPORT企业管治报告董事会候选人的遴选乃基于（其中包括）品格及诚信、资历、愿意投入足够的时间履职以及一系列多元化观点，经参考本公司的业务模式及特定需求。候选人的遴选及推荐将基于提名程序、提名委员会采纳的流程及标准以及多项观点，包括但不限于性别、年龄、文化及教育背景、行业经验、技术及专业技能及╱或建议候选人的资历、知识、服务年期、个人操守及时间承诺。本公司亦应考虑与自身业务模式及不时的特定需求有关的因素。最终决定乃基于所选候选人将为董事会带来的功绩及贡献作出。提名委员会应定期检讨提名政策以及可衡量目标（如适用），以确保董事会的持续有效性。董事会及员工多元化董事会已采纳董事会多元化政策，当中载列须遵循的基本原则，以确保董事会具有必要技能、经验及多元化观点之间的适当平衡，以提升董事会的有效性及维持高标准的企业管治。根据董事会多元化政策，本公司寻求透过考虑若干因素，包括但不限于专业经验、技能、知识、性别、年龄、文化及教育背景、种族及服务年限，实现董事会多元化。我们董事拥有均衡的知识技能组合，包括商业管理、财务、投资、审计及会计。目前，董事会认为其多元化视角保持适当平衡及提名委员会已在专业经验、技能、知识、性别、年龄及服务年限等方面制定可衡量目标，以落实董事会多元化政策。该等目标将不时检讨，以确保其适当性及确定在实现该等目标方面取得的进展。Selection of board candidates shall be based on amongst others, characterand integrity, qualifications, willingness to devote adequate time and a rangeof diversity perspectives with reference to the Company’s business modeland specific needs.Selection and recommendation of candidates will be based on thenomination procedures and the process and criteria adopted by theNomination Committee and a number of perspectives, including but notlimited to gender, age, cultural and educational background, industryexperience, technical and professional skills and/or qualifications, knowledge,length of services, personal integrity and time commitments of the proposedcandidates. The Company should also take into account factors relating toits own business model and specific needs from time to time. The ultimatedecision is based on merit and contribution that the selected candidates willbring to the Board.The Nomination Committee shall review the Nomination Policy and themeasurable objectives periodically, and as appropriate, to ensure thecontinued effectiveness of the Board.BOARD AND WORKFORCE DIVERSITYThe Board has adopted the Board Diversity Policy which sets out the basicprinciples to be followed to ensure that the board has the appropriatebalance of skills, experience and diversity of perspectives necessary toenhance the effectiveness of the Board and to maintain high standards ofcorporate governance.Pursuant to the Board Diversity Policy, the Company seek to achieve Boarddiversity, through the consideration of a number of factors, including but notlimited to professional experience, skills, knowledge, gender, age, culture andeducation background, ethnicity and length of service. Our Directors havea balanced mix of knowledge and skills, including business management,finance, investment, auditing and accounting. At present, the Boardconsidered an appropriate balance of diversity perspectives of the Board ismaintained and the Nomination Committee has set measurable objectives (interms of professional experience, skills, knowledge, gender, age and length ofservice, etc.) to implement the Board Diversity Policy. Such objectives will bereviewed from time to time to ensure their appropriateness and the progressmade towards achieving those objectives will be ascertained.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司88CORPORATE GOVERNANCE REPORT企业管治报告于报告期内，董事会由九名董事组成，包括两名女性及七名男性，符合联交所性别多元化的规定。我们将在招聘员工时实施确保性别多元化的政策，以培养女性董事会潜在继任者。此外，我们将实施全面计划，旨在识别及培训我们具有领导力及潜力的女性员工，目标是将彼等晋升至董事会。截至2023年12月31日，我们共有4,704名全职员工，其中1,342名为男性，3,362名为女性。雇员（包括高级管理层）男女性别比例约为10比25。本公司旨在达致更为均衡的性别比例，并以实现员工性别比例为目标。本公司并不知悉任何缓解因素或导致实现员工（包括高级管理层）性别多元化更具挑战性或偏离的情况。我们亦致力于采用类似方式促进本公司管理层（包括但不限于高级管理层）的多元化，以提升本公司企业管治的整体成效。企业管治职能董事会负责履行企业管治守则守则条文第A.2.1条所载的职能。于截至2023年12月31日止年度期间，董事会已检讨本公司在遵守法律及监管规定方面的政策及常规、董事及高级管理层的培训及持续专业发展、企业管治政策及常规、标准守则的遵守情况、本公司遵守企业管治守则的情况以及于本企业管治报告的披露情况。董事会会议及董事的出席记录于截至2023年12月31日止年度期间，根据企业管治守则守则条文第C.5.1条，本公司已采取每年至少四次定期定期举行董事会会议之做法，大约每季一次，大多数董事亲自或通过电子通讯方式积极参与会议。During the Reporting Period, the Board comprised nine members, includingtwo female Directors and seven male Directors, which is in line with thegender diversity requirements by the Stock Exchange. We will implementpolicies to ensure gender diversity when recruiting staff to develop a pipelineof female potential successors to the Board. Furthermore, we will implementcomprehensive programs aimed at identifying and training our female staffwho display leadership and potential, with the goal of promoting them tothe Board.As of 31 December 2023, we had 4,704 full-time employees, of which1,342 were male and 3,362 were female. The gender ratio in the workforce(including senior management) was approximately 10 males to 25 females.The Company is aiming to achieve a more balanced gender ratio in theworkforce and targets to achieve a gender ratio in the workforce. TheCompany is not aware of any mitigating factor or circumstances whichmake achieving gender diversity across the workforce (including seniormanagement) more challenging or less relevant.We are also committed to adopting a similar approach to promote diversityof the management (including but not limited to the senior management) ofthe Company to enhance the effectiveness of corporate governance of theCompany as a whole.CORPORATE GOVERNANCE FUNCTIONSThe Board is responsible for performing the functions set out in the codeprovision A.2.1 of the CG Code.During the year ended 31 December 2023, the Board had reviewed theCompany’s policies and practices on compliance with legal and regulatoryrequirements, training and continuous professional development of Directorsand senior management, the corporate governance policies and practices,the compliance of the Model Code, and the Company’s compliance with theCG Code and the disclosure in this Corporate Governance Report.BOARD MEETINGS AND DIRECTORS’ATTENDANCERECORDSDuring the year ended 31 December 2023, the Company in accordance withcode provision C.5.1 of the CG Code, has adopted the practice of holdingBoard meetings regularly with at least four times a year, and at approximatelyquarterly intervals with active participation of majority of the Directors, eitherin person or through electronic means of communication.
二零二三年年报ANNUAL REPORT 202389CORPORATE GOVERNANCE REPORT企业管治报告The attendance records of each Director at the Board and Board committeemeetings of the Company held during the year ended 31 December 2023 areset out below:Attendance/Number of Meeting(s)出席情况╱会议次数Name of Directors董事姓名Boardmeeting(s)董事会会议AuditCommitteeMeeting(s)审核委员会会议RemunerationCommitteemeeting(s)薪酬委员会会议NominationCommitteemeeting(s)提名委员会会议Generalmeeting(s)股东大会Executive Directors执行董事Mr. Wang Ning王宁先生4/4N/A不适用1/11/11/1Ms. Yang Tao(resigned on 20 March 2024)杨涛女士（于2024年3月20日辞任）4/4N/A不适用N/A不适用N/A不适用1/1Ms. Liu Ran刘冉女士4/4N/A不适用N/A不适用N/A不适用1/1Mr. Si De司德先生4/4N/A不适用N/A不适用N/A不适用1/1Non-executive Directors非执行董事Mr. Tu Zheng屠铮先生4/43/3N/A不适用N/A不适用1/1Mr. He Yu何愚先生4/4N/A不适用N/A不适用N/A不适用1/1Independent non-executiveDirectors独立非执行董事Mr. Zhang Jianjun张建君先生4/4N/A不适用1/11/11/1Mr. Wu Liansheng吴联生先生4/43/31/11/11/1Mr. Ngan King Leung Gary颜劲良先生4/43/3N/A不适用N/A不适用1/1Notices of not less than 14 days will be given for all regular Board meetingsto provide all Directors with an opportunity to attend and include mattersin the agenda for a regular meeting. For other Board and Board committeemeetings, reasonable notice will be generally given.于截至2023年12月31日止年度期间，各董事的董事会及董事委员会会议出席记录载列如下：所有董事会定期会议的通知须于会议举行前至少十四天送呈全体董事，让全体董事有机会出席定期会议以及提呈将于会议议程中讨论的事宜。就其他董事会及董事委员会会议而言，本公司一般会发出适当通知。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司90CORPORATE GOVERNANCE REPORT企业管治报告董事会文件以及所有适当、完整及可靠资料须于各董事会会议或委员会会议举行前至少三天送呈全体董事，让董事了解本公司的最新动态及财务状况，并使其能作出知情决定。在必要情况下，董事会及各董事亦可分别及独立接触高级管理层。高级管理层出席所有董事会定期会议，并在必要时出席其他董事会及委员会会议，以就业务发展、财务及会计事项、法规及监管合规、企业管治以及本公司其他主要方面提供建议。公司秘书负责记录并保存所有董事会会议及委员会会议的会议记录。会议记录草稿一般会于每次会议后一段合理时间内供董事传阅，董事可借此提供意见，而会议记录的定稿亦公开予董事查阅。组织章程细则载有条文，规定董事就批准有关该等董事或其各自任何联系人于当中拥有潜在或实际利益冲突的交易时放弃投票，且不计算在会议的法定人数内。于报告期内，董事会主席在并无其他董事出席情况下与独立非执行董事举行一次会议。风险管理及内部控制董事会确认其对风险管理及内部控制系统负有责任，并负责检讨其成效。该等系统旨在管理而非消除未能达成业务目标的风险，且仅能就并无重大失实陈述或损失作出合理而非绝对保证。董事会全面负责评估及厘定本公司达成战略目标时所愿意承担的风险性质及程度，并设立及维护适当而有效的风险管理及内部控制系统。审核委员会协助董事会领导管理层并每半年审阅风险管理及内部控制系统的设计、实施及监控。部门主管透过识别、评估及降低已识别风险进行风险管理。Board papers together with all appropriate, complete and reliableinformation are sent to all Directors at least three days before each Boardmeeting or committee meeting to keep the Directors apprised of the latestdevelopments and financial position of the Company and to enable them tomake informed decisions. The Board and each Director also have separateand independent access to the senior management whenever necessary.The senior management attends all regular Board meetings and wherenecessary, other Board and committee meetings to advise on businessdevelopments, financial and accounting matters, statutory and regulatorycompliance, corporate governance and other major aspects of the Company.The company secretary is responsible for taking and keeping minutes ofall Board meetings and committee meetings. Draft minutes are normallycirculated to Directors for comment within a reasonable time after eachmeeting and the final version is open for Directors’inspection.The Articles of Association contain provisions requiring Directors to abstainfrom voting and not to be counted in the quorum at meetings for approvingtransactions in which such Directors or any of their associates have potentialor actual conflicts of interests.During the Reporting Period, the chairman of the Board met once withthe independent non-executive Directors without the presence of otherDirectors.RISK MANAGEMENT AND INTERNAL CONTROLSThe Board acknowledges its responsibility for the risk management andinternal control systems and reviewing their effectiveness. Such systemsare designed to manage rather than eliminate the risk of failure to achievebusiness objectives, and can only provide reasonable but not absoluteassurance against material misstatement or loss.The Board has the overall responsibility for evaluating and determining thenature and extent of the risks it is willing to take in achieving the Company’sstrategic objectives, and establishing and maintaining appropriate andeffective risk management and internal control systems.The Audit Committee assists the Board in leading the management andbiannually reviews the design, implementation and monitoring of the riskmanagement and internal control systems. Heads of departments managerisks through identification, evaluation and mitigation of risk identified.
二零二三年年报ANNUAL REPORT 202391CORPORATE GOVERNANCE REPORT企业管治报告Risk management mainly includes four major areas: risks identification, risksassessment, risks response and risk monitoring and reporting.Risk identification: each business and functional department and itssubsidiaries conducts, once in a year, an identification of potential internaland external risks in its respective operation processes. During risksidentification, references are mainly made to the impact the risks have on theCompany’s objectives, and major problems or risk incidents in the businessactivities for the past year.Risk assessment: according to the risks assessment standards, each businessand functional department and its subsidiaries reviews the risks identified,and assesses the possibilities of occurrence and the extents of impacts inorder to screen out the significant risks. The Group adopts a combination ofbottom-up and top-down risk assessment procedures to fully identify all ofthe Group’s significant risks, which are then given rankings. Significant risksare then reported to the appropriate management level, Audit Committeeand the Board. A final list of significant risks is confirmed after thoroughcommunication and discussion.Risks response: the responsible department of the identified risks formulatesa risk response plan by properly applying methods such as risk avoidance, riskreduction, risk sharing and risk acceptance, with consideration of the Group’slevel of risk tolerance. This allows the Group to properly allocate resources forrisk mitigation or improvements on risk response measures, with an aim toreduce the overall risk of the Group to an acceptable level.Risk monitoring and reporting: risk monitoring and reporting are carriedout by integrating the use of risk warning indicators, internal auditing andperiodic summarized risk reports.We endeavour to uphold the integrity of our business by maintaining aninternal control system into our organisational structure. Our internal controland risk management systems cover, among others, corporate governance,operations, management, legal matters, finance and auditing. Our Auditdepartment reviewed our internal control system and we have implementedand will continue to implement the relevant suggestions they proposed/propose. Our Audit department (the“internal audit and compliancedepartment”) performed a review of the adequacy and effectiveness ofthe risk management and internal control systems over our major businessprocesses. The Company has established risk management systems withrelevant policies and procedures that we believe are appropriate for ourbusiness operations.风险管理主要包括四个主要领域：风险识别、风险评估、风险应对以及风险监控及报告。风险识别：各业务及职能部门以及其附属公司每年进行一次识别其各自营运流程中潜在的内部及外部风险。于识别风险期间，主要参考风险对本公司目标的影响以及过去一年业务活动中的重大问题或风险事件。风险评估：根据风险评估标准，各业务及职能部门以及其附属公司对已识别风险进行审查，并评估发生的可能性及影响程度，以筛选出重大风险。本集团采纳自下而上及自上而下的风险评估程序，以全面识别本集团所有重大风险，其后对其进行排名。随后，向相应的管理层、审核委员会及董事会报告重大风险。进行充分沟通及讨论后，最终确认重大风险清单。风险应对：经考虑本集团的风险承受能力，已识别风险的负责部门通过适当运用诸如规避风险、降低风险、分担风险及接受风险等方法制定风险应对计划。此举令本集团能适当分配资源以缓解风险或改善风险应对措施，借以将本集团的整体风险降至可接受水平。风险监控及报告：风险监控及报告乃通过整合使用风险警告指标、内部审核及定期汇总风险报告进行。我们通过于组织架构中维持内部控制体系，致力维持业务的完整性。我们的内部控制及风险管理体系涵盖（其中包括）企业管治、营运、管理、法律事务、财务及审核等方面。我们的审计部已审阅我们的内部控制体系，且我们已实施并将继续实施彼等提出╱提议的相关建议。我们的审计部（「内部审核及合规部门」）对主要业务流程中的风险管理及内部控制体系的充分性及有效性进行审查。本公司已建立风险管理体系，并制定我们认为适合我们业务营运的相关政策及程序。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司92CORPORATE GOVERNANCE REPORT企业管治报告审计部对（其中包括）控制环境、风险评估、控制活动、信息与沟通、监督活动（例如收入循环、采购循环、支出循环等）进行后续检查（「内部控制审查」），并提供建议以加强本集团的内部控制体系。我们已采纳并执行审计部提供的建议，而审计部并无发现任何可能对我们内部控制体系的有效性产生重大影响的重大发现。根据内部控制审查结果，在审核委员会的支持下，董事会已审阅截至2023年12月31日止年度的风险管理及内部控制体系，包括财务、营运及合规控制，并认为该等体系属有效、充分。年度审查亦涵盖财务报告、内部审核职能、资源充足性、员工资历及经验，以及本公司会计、内部审核及财务报告职能的培训计划及预算。检举政策本公司已采取安排，以便利雇员及其他利益相关者对财务报告、内部控制或其他事项中可能存在的不当行为提出保密举报。审核委员会应定期审阅有关安排，确保备有适当安排以公平、独立调查该等事项，并采取适当的后续行动。内幕消息本公司了解并严格遵守现行适用法律、法规及指引的要求，包括于进行相关交易时遵守《证券及期货条例》及《上市规则》项下的内幕消息披露责任，以及遵守证券及期货事务监察委员会颁布的《内幕消息披露指引》。本集团已设立与内幕消息有关的授权及问责制以及处理及传播程序，且已与所有相关人员进行沟通并为其提供有关实施持续披露政策的专门培训。The Audit Department conducted a follow-up review (the“Internal ControlReview”) on, among others, control environment, risk assessment, controlactivities, information and communication, monitoring activities such asrevenue cycle, procurement cycle, expenditure cycle, etc. and providedrecommendations to enhance the internal control system of our Group.We have adopted and implemented the recommendations provided by theAudit Department and the Audit Department has not identified any materialfindings which may have material impact on the effectiveness of our internalcontrol system.Based on the result of the Internal Control Review, the Board, as supportedby the Audit Committee, reviewed the risk management and internal controlsystems, including the financial, operational and compliance controls, forthe year ended 31 December 2023, and considered that such systemsare effective and adequate. The annual review also covered the financialreporting, internal audit function, adequacy of resources, staff qualificationsand experiences, training programmes and budget of the Company’saccounting, internal audit and financial reporting functions.WHISTLEBLOWING POLICYThe Company has adopted arrangement to facilitate employees and otherstakeholders to raise concerns, in confidence, about possible improprieties infinancial reporting, internal control or other matters.The Audit Committee shall review such arrangement regularly and ensurethat proper arrangements are in place for fair and independent investigationof these matters and for appropriate follow-up action.INSIDE INFORMATIONThe Company is aware of and strictly complies with the requirements ofthe currently applicable laws, regulations and guidelines, including theobligations to disclose inside information under the SFO and the ListingRules, and the Guidelines on Disclosure of Inside Information issued by theSecurities and Futures Commission, at the time when the relevant businessesare transacted. The Group has established the authority and accountability,as well as the handling and dissemination procedures in relation to insideinformation, and has communicated to all relevant personnel and providedthem with specific trainings in respect of the implementation of thecontinuous disclosure policy.
二零二三年年报ANNUAL REPORT 202393CORPORATE GOVERNANCE REPORT企业管治报告董事会认为本公司有关内幕消息的处理及传播程序以及措施乃属有效。证券交易标准守则本公司已采纳上市规则附录C3所载的标准守则。已向全体董事作出具体查询，且全体董事均已确认彼等于截至2023年12月31日止年度一直遵守标准守则。可能拥有本公司未公布内幕资料的本公司雇员亦须遵守标准守则。董事对财务报表的责任董事知悉彼等有责任编制本公司截至2023年12月31日止年度的财务报表。董事会负责对年度及中期报告、与披露内幕资料有关的公告、上市规则以及其他法律法规要求规定的其他披露事项作出中肯、清晰及可理解的评估。管理层已向董事会提供必要的解释及资料，致使董事会能对本公司的财务报表进行知情评估，并提交董事会批准。董事并不知悉有任何可能会对本集团持续经营能力构成重大疑问的重大不明朗事件或情况。本公司独立核数师就其对综合财务报表的申报责任所作声明载于本年报独立核数师报告。The Board considers that the Company’s handling and disseminationprocedures and measures in relation to inside information are effective.MODEL CODE FOR SECURITIES TRANSACTIONSThe Company has adopted the Model Code as set out in Appendix C3 to theListing Rules. Specific enquiries have been made to all the Directors and allthe Directors have confirmed that they have complied with the Model Codeduring the year ended 31 December 2023.The Company’s employees, who are likely to be in possession of unpublishedinside information of the Company, are also subject to the Model Code.DIRECTORS’RESPONSIBILITY IN RESPECT OFFINANCIAL STATEMENTSThe Directors acknowledge their responsibility for preparing the financialstatements of the Company for the year ended 31 December 2023.The Board is responsible for presenting a balanced, clear and understandableassessment of annual and interim reports, announcements relating todisclosure of insider information and other disclosures required under theListing Rules and other statutory and regulatory requirements.The management has provided to the Board such explanation andinformation as are necessary to enable the Board to carry out an informedassessment of the Company’s financial statements, which are put to theBoard for approval.The Directors are not aware of any material uncertainties relating to eventsor conditions that may cast significant doubt upon the Group’s ability tocontinue as a going concern.The statement of the independent auditor of the Company about theirreporting responsibilities on the consolidated financial statements is set outin the Independent Auditor’s Report of this annual report.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司94CORPORATE GOVERNANCE REPORT企业管治报告核数师酬金本公司外部核数师就其对财务报表的申报责任作出的声明载于本年报「独立核数师报告」一节。截至2023年12月31日止年度期间，就截至2023年12月31日止年度获提供的审核服务向本公司外部核数师支付╱应支付的酬金为人民币5.1百万元。审核服务包括本集团及若干附属公司的法定审计及审阅。截至2023年12月31日止年度期间，就截至2023年12月31日止年度的非审核服务向本公司外部核数师支付╱应支付的酬金为人民币0.9百万元。由外部核数师进行的非审核服务主要包括税务及其他咨询服务。联席公司秘书李鸿轩先生（「李先生」）及李菁怡女士（「李女士」）担任本公司的联席公司秘书。李先生，本公司投资者关系副总监。李先生于2019年4月加入本集团，负责管理本公司的投资者关系部。在此之前，李先生于2014年12月至2019年1月担任中信建投证券股份有限公司投资银行部高级经理，并于2019年2月至2019年3月担任中信建投证券股份有限公司创新融资部高级经理。李女士为全球专业服务公司恒泰商业服务有限公司的上市企业及受托人服务部高级经理。彼于公司秘书领域拥有逾10年专业经验。李女士为英国特许公司治理公会（前称英国特许秘书及行政人员公会）及香港公司治理公会（前称香港特许秘书公会）的会员。李女士一直协助处理本公司公司秘书事宜，并与李先生（本公司之主要公司联系人）保持紧密联系。截至2023年12月31日止年度，李先生及李女士各自已接受不少于15小时的相关专业培训。AUDITOR’S REMUNERATIONThe statement of the external auditor of the Company about their reportingresponsibilities for the financial statements is set out under the sectionheaded“Independent Auditor’s Report”in this annual report.During the year ended 31 December 2023, the remuneration paid/payableto the external auditor of the Company for the provision of audit servicesfor the year ended 31 December 2023 amounted to RMB5.1 million. Theaudit services include statutory audits and reviews of the Group and certainsubsidiaries.During the year ended 31 December 2023, the remuneration paid/payable tothe external auditor of the Company in respect of non-audit services for theyear ended 31 December 2023 amounted to RMB0.9 million. The non-auditservices conducted by the external auditor mainly include tax and otherconsultation services.JOINT COMPANY SECRETARIESMr. Li Hongxuan (“Mr. Li”) and Ms. Li Ching Yi (“Ms. Li”) are the joint companysecretaries of the Company.Mr. Li, the depute director of investor relationship of the Company, joinedthe Group in April 2019 in charge of the management of investor relationshipdepartment of the Company. Prior to that, Mr. Li served as a senior associateof investment banking department of CSC Financial Co., Ltd. from December2014 to January 2019 and a senior associate of innovative financingdepartment of CSC Financial Co., Ltd. from February 2019 to March 2019.Ms. Li is a senior manager of the Listed & Fiduciary Corporate ServicesDepartment of Trident Corporate Services (Asia) Ltd., a global professionalservices firm. She has over 10 years of professional experience in companysecretarial field. Ms. Li is an associate member of The Chartered GovernanceInstitute (formerly known as The Institute of Chartered Secretaries andAdministrators) in the United Kingdom and The Hong Kong CharteredGovernance Institute (formerly known as The Hong Kong Institute ofChartered Secretaries). Ms. Li has assisted on the Company Secretarial mattersof the Company and has closely communicated with Mr. Li, who is theprimary corporate contact person of our Company.During the year ended 31 December 2023, each of Mr. Li and Ms. Li hasundertaken not less than 15 hours of relevant professional training.
二零二三年年报ANNUAL REPORT 202395CORPORATE GOVERNANCE REPORT企业管治报告与股东及投资者的沟通本公司认为，与股东有效沟通对加强投资者关系及让投资者了解本集团业务表现及策略至关重要。本公司亦认识到透明且及时披露公司资料的重要性，此举将使股东及投资者作出最佳投资决策。为使股东能在明确了解本集团的经营、业务及财务资料的基础上，以知情方式行使其权利，本公司已采纳股东沟通政策，以保持与股东及其他持份者有效沟通。本公司致力与股东保持持续对话，特别是透过股东周年大会及其他股东大会。本公司的股东大会为董事会与股东之间的交流提供平台。董事会主席以及审核委员会、薪酬委员会及提名委员会的主席或（在其缺席的情况下）各委员会的其他成员，亦可于股东大会上回答股东提问。本公司外部核数师亦获邀出席本公司的股东周年大会，以回答有关审核行为、核数师报告的编制及内容、会计政策及核数师独立性的问题。除参与本公司股东大会外，有关本公司财务资料、企业管治常规、董事履历资料及其他事项的最新资料亦可于本公司网站(www.popmart.com)公开查阅。此外，股东及投资者可随时通过电子邮件(ir@popmart.com)与我们联系或向我们发送查询及疑虑。于截至2023年12月31日止年度期间，本公司已审阅股东沟通政策的落实及成效，包括设立多种股东沟通渠道及回应持份者质询，认为股东沟通政策已妥为执行及具成效。COMMUNICATIONS WITH SHAREHOLDERS ANDINVESTORSThe Company considers that effective communication with Shareholdersis essential for enhancing investor relations and investor understandingof the Group’s business performance and strategies. The Company alsorecognizes the importance of transparency and timely disclosure of corporateinformation, which will enable Shareholders and investors to make the bestinvestment decisions. To enable our shareholders to exercise their rightsin an informed manner based on a good understanding of the Group’soperations, businesses and financial information, the Company adopted theshareholders communication policy to provide effective communication withthe Shareholders and other stakeholders.The Company endeavours to maintain an on-going dialogue withShareholders and in particular, through annual general meetings and othergeneral meetings. The general meetings of the Company provide a platformfor communication between the Board and the Shareholders. The chairmanof the Board as well as chairmen of the Audit Committee, the RemunerationCommittee and the Nomination Committee or, in their absence, othermembers of the respective committees, are available to answer Shareholders’questions at general meetings. The external auditor of the Company is alsoinvited to attend the annual general meetings of the Company to answerquestions about the conduct of audit, the preparation and content of theauditor’s report, the accounting policies and auditor independence.Apart from participating in the Company’s general meeting, updates onthe Company’s financial information, corporate governance practices,biographical information of Directors and others are available for public onthe website of the Company (www.popmart.com). In addition, shareholdersand investors may at any time contact or send enquiries and concerns to usby email to ir@popmart.com.During the year ended 31 December 2023, the Company reviewed theimplementation and effectiveness of the shareholders communication policy,including the multiple communication channels for shareholders in placeand the steps taken to handle shareholders’enquiries, and considered thatthe shareholders communication policy has been properly implemented andeffective.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司96CORPORATE GOVERNANCE REPORT企业管治报告SHAREHOLDERS’RIGHTSTo safeguard Shareholders’interests and rights, separate resolution should beproposed for each substantially separate issue at general meetings, includingthe election of Director. All resolutions put forward at general meetings willbe voted on by poll pursuant to the Listing Rules and poll results will beposted on the websites of the Company and of the Stock Exchange aftereach general meeting.Procedures for Shareholders to Convene Extraordinary GeneralMeetingArticle 12.3 of the Articles of Association provides that general meetings shallbe convened on the written requisition of any one or more members holdingtogether, as at the date of deposit of the requisition, shares representing notless than one-tenth of the paid up capital of the Company which carry theright of voting at general meetings of the Company. The written requisitionshall be deposited at the principal office of the Company in Hong Kong or, inthe event the Company ceases to have such a principal office, the registeredoffice of the Company, specifying the objects of the meeting and signed bythe requisitionist(s).If the Board does not within 21 days from the date of deposit of therequisition proceed duly to convene the meeting to be held within a further21 days, the requisitionist(s) themselves or any of them representing morethan one-half of the total voting rights of all of them, may convene thegeneral meeting in the same manner, as nearly as possible, as that in whichmeetings may be convened by the Board provided that any meeting soconvened shall not be held after the expiration of three months from thedate of deposit of the requisition, and all reasonable expenses incurred bythe requisitionist(s) as a result of the failure of the Board shall be reimbursedto them by the Company.股东权利为保障股东权益及权利，本公司应就各重大独立事项（包括选举董事）于股东大会上提呈独立决议案。根据上市规则，于股东大会提呈的所有决议案将以投票方式表决，投票结果将于各股东大会结束后在本公司及联交所网站登载。股东召开临时股东大会的程序组织章程细则第12.3条规定，任何一名或多名于提出要求当日共同持有代表不少于有权于本公司股东大会上投票的本公司实缴股本十分之一股份的股东，应以书面要求召开股东大会。书面要求应存放于本公司在香港的主办事处，或倘本公司不再拥有有关主办事处，则应存放于本公司的注册办事处。书面要求应注明会议目的，并由提出要求股东签署。倘董事会于提出要求当日起计21天内未正式进行召开于随后21天内举行的大会，则提出要求股东本人或其中持有占总投票权超过二分之一的任何人士，可以与董事会召开大会方式尽可能相同的方式召开股东大会，惟如此召开的任何大会不得于提出要求当日起计三个月届满后举行，而提出要求股东因董事会未能召开大会而产生的所有合理费用，将由本公司向彼等作出补偿。
二零二三年年报ANNUAL REPORT 202397CORPORATE GOVERNANCE REPORT企业管治报告Procedures for shareholders to propose a person for election asa directorFor proposal of a person for election as Director, pursuant to Article 16.4of the Articles of Association, no person shall, unless recommended by theBoard, be eligible for election to the office of Director at any general meetingunless during the period, which shall be at least seven days, commencingno earlier than the day after the despatch of the notice of the meetingappointed for such election and ending no later than seven days prior tothe date of such meeting, there has been given to the Secretary notice inwriting by a member of the Company (not being the person to be proposed),entitled to attend and vote at the meeting for which such notice is given, ofhis intention to propose such person for election and also notice in writingsigned by the person to be proposed of his willingness to be elected.Base on this, if a Shareholder wishes to propose a person (the“Candidate”)for election as a Director at a general meeting, he/she shall deposit a writtennotice at the Company’s principal place of business in Hong Kong at 19/F.,Golden Centre, 188 Des Voeux Road Central, Hong Kong. The notice must(i) include the personal information of the Candidate as required by Rule13.51(2) of the Listing Rules; and (ii) be signed by the Shareholder concernedand signed by the Candidate indicating his/her willingness to be elected andconsent of publication of his/her personal information.Putting Forward Proposals at General MeetingsThere are no provisions in the Articles of Association or in the CompaniesLaw of the Cayman Islands for putting forward proposals of new resolutionsby Shareholders at general meetings. Shareholders who wish to moveforward a resolution may request the Company to convene a generalmeeting in accordance with the procedures mentioned above. For proposinga person for election as a Director, please refer to the procedures set out inthe preceding paragraph.股东提名候选董事的程序根据组织章程细则第16.4条的规定，就提名董事候选人而言，任何未获董事会推荐的人士概无资格于任何股东大会上获推选出任董事职务，除非有权出席大会并于会上投票的本公司股东（不得为获提名的人士）在就有关选举召开的大会通告日期后一天开始直至有关大会日期前七天的期间内，向秘书发出书面通知，以表明其提名有关候选人的意愿，而获提名候选人亦应向秘书发出已签署的书面通知，以表明彼愿意获选为董事。在此基础上，倘股东希望于股东大会上提名人士选举为董事（「候选人」），则彼应向本公司位于香港的主要营业地点（地址为香港中环德辅道中188号金龙中心19楼）寄发书面通知。有关通知必须(i)包括上市规则第13.51(2)条所要求的候选人个人资料；及(ii)由有关股东签署并由候选人签署，以表明彼愿意获选为董事并同意公开其个人资料。于股东大会提呈建议组织章程细则或开曼群岛公司法概无有关股东于股东大会提呈新决议案建议。有意提呈决议案的股东可根据上文所述程序要求本公司召开股东大会。就建议某名人士竞选董事，请参阅前段所载程序。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司98CORPORATE GOVERNANCE REPORT企业管治报告Putting Forward Enquiries to the BoardFor putting forward any enquiry to the Board, Shareholders may send writtenenquiries to the Company. The Company will not normally deal with verbalor anonymous enquiries.Shareholders may send their enquiries or requests as mentioned above tothe following:Address:Floor 36 & 37, Block A, Puxiang CenterHongtai East StreetDawangjing Technology Business ParkChaoyang District, BeijingPRC(For the attention of the Board of Directors)Email:ir@popmart.comFor the avoidance of doubt, Shareholders must deposit and send the originalduly signed written requisition, notice or statement, or enquiry (as the casemay be) to the above address and provide their full name, contact detailsand identification in order to give effect thereto. Shareholders’informationmay be disclosed as required by law.向董事会作出查询股东可将其向董事会作出的任何查询以书面方式发送至本公司。本公司通常不会处理口头或匿名查询。股东可将上述查询或要求发送至以下地址：地址：中国北京市朝阳区大望京科技商务园区宏泰东街浦项中心A座36及37楼（收件人：董事会）电邮：ir@popmart.com为免生疑问，股东须将正式签署的书面要求、通知或声明的正本或查询（视情况而定）送交至上述地址，并提供全名、详细联系方式及身份证明，方为有效。股东资料可能根据法律规定而予以披露。
二零二三年年报ANNUAL REPORT 202399CORPORATE GOVERNANCE REPORT企业管治报告组织章程文件变动于2023年3月29日，董事会议决建议对本公司于2020年11月23日采纳并自上市日期起生效的经修订及重述大纲及细则作出若干修订。于2023年5月17日，本公司举行股东周年大会以供股东批准（其中包括）对经修订及重述大纲及细则的修订并于同日获采纳为第二次经修订及重述大纲及细则。于2024年3月20日，董事会议决建议对第二次经修订及重述大纲及细则作出若干修订。有关更多详情，请参阅本公司日期为2024年3月20日的公告。除上文所披露者外，并未对大纲及细则作出任何修订。第二次经修订及重述大纲及细则可于本公司及联交所网站查阅。股息政策本公司已就股息派付采纳股息政策，详情载于本年报第40至75页的「董事会报告书」。Change in Constitutional DocumentsOn 29 March 2023, the Board resolved to propose certain amendments tothe amended and restated Memorandum and Articles which was adoptedon 23 November 2020 and has been effective from the Listing Date. On17 May 2023, the annual general meeting was held for the Shareholdersto approve among others, the amendments to the amended and restatedMemorandum and Articles and was adopted as second amended andrestated Memorandum and Articles on the same date.On 20 March 2024, the Board resolved to propose certain amendments to thesecond amended and restated Memorandum and Articles. For more details,please refer to the announcement of the Company dated March 20 March2024.Save as disclosed above, no amendments have been made to theMemorandum and Articles. The second amended and restated Memorandumand Articles is available on the websites of the Company and the StockExchange.Dividend PolicyThe Company has adopted a dividend policy on payment of dividends, anddetails are provided in the“Report of Directors”on pages 40 to 75 of thisannual report.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1002023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告一、关于本报告报告简介本报告旨在客观披露泡泡玛特国际集团有限公司（以下简称「泡泡玛特」或「本公司」或「我们」）及其附属公司（「本集团」）于2023年在环境、社会及管治（以下简称「ESG」）领域开展的工作及所取得的成果。有关企业管治方面的详细信息，建议与本年报中《企业管治报告》章节一并阅读。编制依据本报告依据香港联合交易所有限公司（以下简称「香港联交所」）主板上市规则附录C2《环境、社会及管治报告指引》（以下简称「ESG报告指引」），并遵循其汇报原则汇报有关内容。汇报原则本报告回应并遵守以下原则：「重要性」：本报告已在编制过程中识别主要利益相关方及其关注的ESG议题，并依据其关注议题的重要性程度，在本报告中做有针对性的披露。「平衡」：本报告客观披露正面及负面信息，确保内容不偏不倚地反应本报告时间范围内的ESG表现。「量化」：本报告所披露的环境与社会层面数据均采用量化方式展现，并附带说明，列出使用的有关标准、方法、假设及╱或计算工具的信息、以及关键绩效指标使用的转换系数的来源。「一致性」：本报告的数据统计方法与往年保持一致，若存在可能影响与过往报告作有意义比较的变更，均已在对应位置进行了说明。I. ABOUT THIS REPORTOverviewThe purpose of this report is to objectively disclose the environmental,social and governance (“ESG”) works and achievements made by PopMart International Group Limited (the“Pop Mart”or the“Company”or“we”) and its subsidiaries (the“Group”) during 2023. For detailedinformation on corporate governance, it is recommended to read thisreport in conjunction with the section headed Corporate GovernanceReport in the annual report.Basis of PreparationThis report is prepared in accordance with theEnvironmental, Social andGovernance Reporting Guide(the“ESG Reporting Guide”) in AppendixC2 to the Listing Rules on the Main Board of the Stock Exchange ofHong Kong Limited (the“Hong Kong Stock Exchange”), and is reportedbased on its reporting principles.Reporting PrinciplesThis report responds to and adheres to following principles:Materiality: This report has identified key stakeholders and theirESG issues of concern in the preparation process, and disclosedcorrespondingly based on the materiality of the issues of concern.Balance: This report has disclosed positive and negative informationin an objective manner to ensure that contents can reflect the ESGperformance during the reporting period of this report fairly.Quantitative: The environmental and social data disclosed in thisreport are all presented in the form of quantitative, accompanied by adescription of the relevant criteria, methodologies, assumptions and/or calculation tools used, as well as the source of the conversion factorsused for the key performance indicators (“KPIs”).Consistency: The statistical method in this report is consistent with thatof previous year. Where there are changes which may affect meaningfulcomparison with previous reports, these changes are described in thecorresponding sections.
二零二三年年报ANNUAL REPORT 20231012023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Reporting PeriodThe reporting period of this report covered from 1 January 2023 to 31December 2023.Reporting ScopeUnless otherwise stated, the scope of disclosure of this report shall bethe same as those covered in the annual report.II. BOARD STATEMENTThe Company highly values ESG-related work and has established aneffective ESG management system. The Board of Directors (the“Board”)of the Company, as the highest responsible and decision-making bodyfor ESG issues, assumes full responsibility for ESG strategies and issuesreporting, reviews and approves ESG strategies, policies, goals, majormissions and manages priorities, oversees ESG-related matters that mayaffect the Company’s business or operations, the rights and interests ofshareholders and other stakeholders, and reviews the completion of ESGgoals on a regular basis. Under the leadership of the Board, ESG work aresupervised by the ESG management team, and jointly participated bythe ESG collaboration team to ensure the effective development of theESG work and provide strong support for the effective implementationof the strategy.The Company maintains in-depth communication with various internaland external stakeholders through various channels to fully understandtheir core concerns, respond to their expectations and demands,and adopt constructive opinions and suggestions. According to theexternal environment and the Company’s strategy, the Board hascomprehensively reviewed the evaluation results of major ESG issues andESG risks identified during the year, while reviewed the formulation ofESG management strategy, setting of ESG goals and progress achievedof the Company, further defining the key direction and key points of ESGgovernance of the Company.This report aims to objectively disclose the progress and achievementsof the Company’s ESG works in 2023, and has been considered andapproved at the Board meeting on 20 March 2024.报告时间本报告时间范围为2023年1月1日至2023年12月31日。报告范围如无特别说明，本报告的披露范围与年报所涵盖的范围一致。二、董事会声明本公司高度重视ESG工作，建立了有效的ESG管理体系。本公司董事会作为ESG事宜的最高责任及决策机构，对ESG策略及事宜汇报承担全部责任，审阅并批准ESG战略、政策、目标、重点任务及管理优先事项，监察可能影响公司业务或运作、股东与其他利益相关方权益的ESG相关事宜，定期检讨ESG目标及完成情况。在董事会领导下，由ESG管理团队监管以及ESG协同团队共同参与，保障ESG工作的有效推进，为本公司战略的顺利实施提供强有力的支持。本公司积极与各内外部利益相关方通过多种渠道展开深入沟通，充分了解各利益相关方的核心关切议题，回应其期望与需求，吸纳建设性的意见和建议。在考虑外部环境和公司战略的基础上，董事会全面审视了本年度ESG关键议题评估结果和识别出的ESG风险，并检讨本公司在ESG管理策略的制定、ESG目标的设定及其达成进度，进一步明确本公司ESG治理工作的主要方向和重点。本报告旨在客观披露本公司2023年ESG工作的进展与成效，并于2024年3月20日经由董事会会议审议通过。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1022023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告III. ESG MANAGEMENT SYSTEMThe Company always keeps in mind the brand concept of“creatingtrends and delivering fineness”. With a focus on four fields includingIP incubation and operation, pop toys and retail, theme park and IPexperience as well as digital entertainment, the Company creates acomprehensive operating platform covering the entire industry chain ofpop toy IP.With close attention to the management of ESG-related matter involvedin business operation and risk management, we continue to explorethe effective way to incorporate the ESG concept to corporate’sdevelopment. We adhere to the simultaneous development of socialand corporate values and are committed to creating sustained valuesfor consumers, industry and society by continuously improving ESGgovernance structure, increasing ESG management level and listening todemand from each stakeholder.ESG ConceptWith a vision of“become a leading global pop culture entertainmentcompany”, the Company incorporate ESG concept into each aspect inthe business, to promote the sustainable development of the corporate.In terms of environment, we made more effort on the research anddevelopment of environmental protection materials and processes tominimize environmental pollution and energy consumption, increaseresource efficiency and actively respond to the climate change. In termsof society, we strictly control quality of products, protect consumers’rights and strengthen anti-corruption management to build up a greensupply chain together with partners. Meanwhile, we value employeesand provide a safe, healthy and comfortable working environmentfor them and continuously improve the training and developmentmechanism for employees, in order to promote the simultaneousdevelopment of employees and the corporate. We proactively assumeour social responsibilities and give back to the society through publicwelfare activities to promote social harmony and progress. We willcontinue to deepen the integration of ESG concept in the Company’soperation and keep improving ESG management level, striving tobecome a model in global pop toy industry.三、ESG管理体系本公司秉承「创造潮流、传递美好」的品牌使命，围绕IP孵化与运营、潮流玩具与零售、主题乐园与体验、数字娱乐四大领域，构建了覆盖潮流玩具IP全产业链的综合运营平台。我们密切关注业务经营与风险管理中涉及ESG相关事宜的管理，不断探索将ESG理念有效融入企业发展的方法路径。我们不断完善ESG治理架构，提升ESG管理水平，倾听各利益相关方的诉求，坚持社会价值与公司价值的同步发展，致力于为消费者、行业和社会创造持久价值。ESG理念本公司以「成为全球领先的潮流文化娱乐公司」为公司愿景，将ESG理念融入业务各个环节，推动企业的可持续发展。在环境方面，我们加大研发环保材料和工艺的力度，减少环境污染、降低能源消耗，提高资源效率，积极应对气候变化。在社会层面，我们严格把控产品质量，保障消费者权益，加强反贪腐管理，与合作伙伴共筑绿色供应链，同时，我们珍视员工，为其提供安全、健康、舒适的工作环境，持续完善员工培训发展机制，促进员工和企业的共同成长。我们积极履行社会责任，通过公益活动回馈社会，促进社会和谐与进步。我们将持续深化ESG理念在公司运营中的融合，不断提升ESG管理水平，努力成为全球潮流玩具行业中的标杆。
二零二三年年报ANNUAL REPORT 20231032023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告ESG Governance StructureThe Company has established a three-level ESG governance structureled by the Board, supervised by the ESG management team and jointlyparticipated by the ESG collaboration team. As the highest responsibleand decision-making body for ESG works, the Board is responsible forsetting the Company’s overall ESG strategies and management policy,overseeing the implementation of ESG goals, regularly reviewing ESGreports and related issues, and guiding and supervising the managementto carry out specific work. The ESG management team is responsible forassisting the Board in coordinating the implementation of ESG strategiesand goals, supervising the management of daily work and regularlyreporting the progress of ESG work to the Board. Our ESG collaborationteam comprised of various functional departments is responsible forcooperating with our ESG management team to implement relatedspecific work and various ESG matters.Communication with StakeholdersThe Company sets up regular and diverse communication channels forstakeholders, so as to ensure a smooth interaction with stakeholdersand to understand their expectations and demands in an active manner.Their opinions and suggestions will be fully incorporate into ESG workplanning and daily management. During the year, we continued toidentify and actively respond to key issues of concern to stakeholdersincluding government and regulatory authorities, shareholders andinvestors, customers, employees, suppliers, communities, media, as wellas non-government organizations.ESG管治架构本公司建立了由董事会领导，ESG管理团队以及ESG协同团队共同参与的三层管治架构。其中，董事会作为最高责任与决策机构，负责制定公司整体ESG战略及管理方针，监督ESG目标实施，定期审阅ESG报告及相关事宜，指导和监督管理层开展具体工作；ESG管理团队负责协助董事会统筹战略及目标的实施，监督管理日常工作，定期向董事会汇报ESG工作进展；ESG协同团队由各职能部门组成，负责配合ESG管理团队统筹执行相关具体工作，贯彻落实各项ESG事宜。利益相关方沟通本公司建立常态化、多元化的利益相关方沟通渠道，确保与利益相关方保持顺畅的互动交流，积极了解利益相关方的期望与诉求，并在ESG工作规划与日常管理中充分吸纳其意见与建议。本年度，我们持续对包括政府及监管机构、股东及投资者、客户、员工、供应商、社区、媒体及非政府组织等在内的利益相关方所关注的主要事宜进行识别并给予回应。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1042023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告StakeholdersMajor issues of concernMajor communication channels利益相关方主要关注事宜主要沟通途径Government and regulatory authorities政府及监管机构• Compliance operation•合规经营• Corporate development•企业发展• Policy implementation•政策落实情况• Extraordinary social contribution•突出社会贡献• Filing or written document submission•备案或书面文件报送• Regular or irregular face-to-facecommunication•定期或不定期面对面沟通• Seminars/exchanges•调研╱交流会• Meetings between government andcompany•政企座谈会Shareholders and investors股东及投资者• Rights and interests of shareholders•股东权益• Corporate performance•企业业绩• Stable growth•稳定增长• Corporate governance•企业管治• Risk control•风险管理• Annual general meetings•股东周年大会• Announcement of Results report andresults presentation•业绩报告、业绩发布会• Investor meetings and performanceroadshows•投资者会议及业绩路演• Official websites of the Hong KongStock Exchange and the Company athome and abroad•香港联交所╱公司境内外官网• Investor relations page and investoremails•投资者关系页面及专用邮箱Customers客户• Product purchase rules•产品购买规则• Product after-sale services•产品售后服务• Consumer personal informationprotection•消费者个人信息保护• Provide quality products and services•提供优质产品与服务• Listen to customer opinions andsuggestions•听取客户意见及建议• Customer service hotline•客户服务热线• Daily operation and communication•日常运营及交流• Member center•会员中心• Market research•市场调研• Official website of the Company•公司官网
二零二三年年报ANNUAL REPORT 20231052023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告StakeholdersMajor issues of concernMajor communication channels利益相关方主要关注事宜主要沟通途径Employees雇员• Rights and interests of employees•员工权益• Remunerations and benefits•薪酬福利• Development and training•发展及培训• Promotion•晋升• Health and safety•健康与安全• Human resources system/employmentcontract•人事制度╱劳动合同• Face-to-face communication•面对面沟通• Staff training•雇员培训• Performance appraisal and feedback•绩效考核及反馈Suppliers供应商• Supply chain management•供应链管理• Anti-corruption•反贪污• Faithful cooperation•诚信合作• Supplier management system•供应商管理制度• Supplier evaluation procedures•供应商评估程序• Supplier meetings•供应商会议Communities andnon-governmental organizations社区及非政府组织• Social development•社会发展• Rural revitalization•乡村振兴• Environmental protection•环境保护• School-enterprise building•校企共建• Participate in charity activities•参与公益活动• Communicate with Communities andnon-governmental organizations•与社区及非政府组织开展交流Media媒体• Corporate development•企业发展• Product responsibility•产品责任• Corporate governance•企业管治• Information disclosure•信息披露• Social media•社交媒体• Official website•官方网站• Press conference and exchangemeetings•新闻发布会、交流会• Interviews on selected topics•选题采访
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1062023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Identification of Key IssuesIn compliance with“ESG Reporting Guide”of Hong Kong Stock Exchange,the Company proactively learns about the views and understanding ofstakeholders on ESG issuesWith the basis of the 12 disclosure aspects as stipulated in the“ESGReporting Guide”, combining our business characteristics and hot topicsin the industry and with reference to reporting frameworks of GRI andmainstream ESG issues rating, the Company collected feedback fromstakeholders on various ESG issues through the questionnaire duringthe year. The Company identified consumer reach, health and safety ofemployees, business ethics and etc., as the most concerned issues ofstakeholders based on feedback.关键议题识别本公司遵循香港联合交易所「ESG报告指引」规定，积极深化对各利益相关方关于ESG议题的看法与理解。本年度，我们以「ESG报告指引」中的12个披露层面为基础，结合本公司业务特点与行业热门话题，参考全球报告倡议组织(GRI)标准等报告框架，以及主流ESG评级关注议题，通过调研问卷的方式收集利益相关方对各项ESG议题的反馈意见。根据问卷反馈结果，我们识别出消费者触达、员工健康与安全、商业道德等为利益相关方重点关注的议题。
二零二三年年报ANNUAL REPORT 20231072023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告The importance of ESG issues to stakeholders of the Company is set outin the diagram below:本公司ESG议题对利益相关方的重要性程度列示于下图：High importance高度重要性Moderate importance中度重要性Low importance一般重要性1Consumer reach消费者触达14IP incubation and operationIP孵化运营19Emission management排放物管理2Health and safety of employees员工健康与安全15ESG governanceESG治理20Resources utilization management资源使用管理3Business ethics商业道德16Carbon footprint management of products产品碳足迹管理21Community investment社区投资4Intellectual property protection知识产权保护17Innovative business incubation and investment创新业务孵化与投资5Human rights and labor management人权与劳工管理18Response to climate change气候变化应对6Product quality and supply chainmanagement产品质量与供应链管理7Diversity and equal opportunity多元化与平等机会8Promotion of tide culture潮玩文化推广9Cooperation with global artists全球艺术家挖掘10Customer complaint management客户投诉管理11Customer privacy and InformationSecurity management客户隐私与信息安全管理12Risk control风险管理13Development and training of employees员工发展及培训Analysis matrix of substantive issues实质性议题分析矩阵189141723121564571110131618192021Importance to external stakeholders对外部利业相关方的重要性Importance to internal stakeholders对内部利业相关方的重要性High高High高Low低Low低Environmental issues环境议题Social issues社会议题Governance issues治理议题Industrial issues行业议题
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1082023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告IV. ENVIRONMENT MANAGEMENTThe Company adheres to green development strategy and fulfillsits environmental protection obligations. In strict compliance torelevant environmental protection laws and regulations, such as theEnvironmental Protection Law of the People’s Republic of China(《中华人民共和国环境保护法》), theLaws of the People’Republic of Chinaon Prevention and Control of Water Pollution(《中华人民共和国水污染防治法》), theAtmospheric Pollution Prevention and Control Law ofthe People’s Republic of China(《中华人民共和国大气污染防治法》),theSolid Waste Pollution Prevention and Control Law of the People’sRepublic of China(《中华人民共和国固体废物污染环境防治法》), andtheEnergy Saving Law of the People’s Republic of China(《中华人民共和国节约能源法》), and regulations of other countries or regions inwhich the Company operates, the Company improves environmentalmanagement system construction, implements energy-saving andemission reduction measures, with the aim of minimizing the impact ofits activities on environment.Emission ManagementTaking the main responsibility for environmental protection, wecontinue to practice green operations and improve emissionsmanagement related policies and enhance environmental awareness ofour employees, so as to ensure that emission reduction measures are inline with corporate strategies. Emissions generated from the Companymainly include greenhouse gas emissions from the use of electricdevices and vehicles, as well as domestic sewage and waste dischargefrom daily operations.四、环境管理本公司贯彻绿色发展战略，积极履行环境保护义务，严格遵守《中华人民共和国环境保护法》《中华人民共和国水污染防治法》《中华人民共和国大气污染防治法》《中华人民共和国固体废物污染环境防治法》《中华人民共和国节约能源法》等环境保护相关法律法规，以及全球其他运营地所在国家或地区的管理条例，健全环境管理体系建设，深化节能减排措施，努力减少自身活动对环境的影响。排放物管理我们坚持绿色运营理念，优化排放物管理策略，提升员工环保意识，确保减排措施与企业战略规划相符合，主动承担环境保护主体责任。本公司涉及的排放物主要类型包括因使用用电设备、车辆产生的温室气体排放，日常运营过程中产生的生活污水以及废弃物排放。
二零二三年年报ANNUAL REPORT 20231092023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Exhaust management: The exhaust generated by the Company mainlyincluded the emission of pollutants from use of vehicles and thekitchens of POP LAND1. In terms of logistics vehicles, we continue toimprove the loading rate, optimize the distribution routes of vehicles,promote the use of new energy vehicles for short-distance delivery, anddesignate nearest warehouses to distribute based on the destinationfor long-distance delivery, so as to shorten the total transportationdistance and reduce the carbon emissions generated during the processof product delivery and transportation; in terms of official businessvehicles, we advocate low-carbon travel, encourage our staff use publictransportation to minimize the carbon emissions from daily commuting;as to exhaust generated from kitchens, we strictly comply with therelevant requirements in which we operate by requiring that exhaustshall be discharged outside after the treatment of exhaust hood withfilter and greasy dirt purification device, and the emission concentrationis in line with the requirements ofEmission standards of air pollutantsfor catering industry.Wastewater Management: The sources of wastewater generated bythe Company mainly include domestic sewage produced during dailyoperations. We handle them in compliance with the treatment methodsrequired by the local government where operations are conducted.Wastewater and reclaimed water are discharged into the municipalpipelines to minimize environmental impact.1POP LAND, the first immersive IP Park of pop toy industry established by PopMart, opened in Chaoyang Park, Beijing in September 2023. It was city renovationproject, namely renovated and upgraded the main structure of the originalbuilding in response to the Ministry of Housing and Urban-Rural Developmentof the People’s Republic of China, to avoid large-scale deconstruction, so asto reduce the negative impact on the surrounding environment and naturalresources.废气管理：本公司废气产生的来源主要包括车辆使用及泡泡玛特城市乐园1餐厨产生的污染物排放。在物流用车方面，我们持续提升装载率，优化运输车队配送路线，推广短途派送使用新能源车辆配载，长距离运输则根据配送地位置就近安排仓库进行配送，缩短运输总距离，减少产品出库及运输过程中产生的碳排放；在公务用车方面，我们倡导低碳出行，鼓励员工搭乘公共交通，在日常出行中努力降低碳排放；对于餐厨废气，我们要求需经包含过滤器的排烟罩及油烟净化装置处理后排至室外，排放浓度要求达到当地《餐饮业大气污染物排放标准》，严格遵守运营所在地相关要求。废水管理：本公司废水产生的来源主要包括日常运营产生的生活污水，均按运营所在地政府要求处理方式进行合规处置，废水、中水进入市政管线，减少对环境的影响。12023年9月，泡泡玛特城市乐园在北京朝阳公园正式开园，是泡泡玛特倾心打造的首个潮玩行业沉浸式IP主体乐园。该乐园是城市更新旧改项目，响应国家住房与城乡建设部的号召，在原有建筑的主体结构上进行改造与更新，避免大规模拆建，减少对周边环境与天然资源的负面影响。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1102023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Waste Management: We adhere to the waste classification andmanagement regulations in the operating regions. We place classifiedgarbage bins in office areas, conduct promotion and raise employeeawareness on waste classification. For discarded electronic equipment,we organize centralized scrap recycling. Food waste is entrusted toprofessional third-party waste transfer companies for processing andis subject to the supervision of the local administrative authorities.Hazardous waste such as waste toner cartridges and ink cartridges arecollected on-site by qualified suppliers for recycling, ensuring safe andcompliant disposal. We also encourage stores to reduce the generationof hazardous waste at the source through methods like toner refilling.Moreover, we implement a registration and quota management systemfor office supplies distribution, promoting reasonable consumption.We irregularly organize activities such as internal purchase events forold electronic equipment and encourage employee participation tocollectively promote environmental protection.Resource Utilization ManagementThe Company consistently upholds the principle of prioritizingconservation and continuously improves the efficient use of energy andresources. We actively respond to national energy-saving requirements,enhance resource utilization efficiency, and reduce energy costs throughthe implementation of diverse energy-saving and environmentalprotection projects. Different management measures are adopted inoffice areas, physical stores, roboshops, warehouses, and POP LAND toachieve scientific and refined management.Office:We advocate for green office practices by implementing managementmeasures for electricity, water, paper consumption, etc., to createan environmentally friendly, efficient, and energy-saving officeenvironment.• Electricity Consumption Management:• Replace high energy-consuming equipment withenergy-efficient new technologies and products to enhanceoperational efficiency;废弃物管理：我们遵守运营所在地区垃圾分类及管理条例，在办公场所安置分类垃圾桶，开展垃圾分类宣传，提高员工垃圾分类意识。对于报废的电子设备，统一组织报废回收。厨余垃圾委托给专业的第三方垃圾转运公司处理，同时接受属地行政主管部门的监管。针对废弃硒鼓、墨盒等有害废弃物，则由具备回收资质的原供货厂商上门回收，实现安全合规处置。我们亦鼓励门店通过加注墨粉等方法，从源头减少有害废弃物产生。此外，我们实行办公用品领用登记与定额管理制度，倡导员工合理领用，不定期组织老旧电子设备内购会等活动，鼓励员工一同参与，共同推动环保工作。资源使用管理本公司始终秉持节约优先的原则，不断完善能源和资源的节约利用，积极响应国家节能降耗要求，通过实施多元化节能环保项目，提高资源使用效率，降低能源使用成本，在办公区域、线下门店、机器人商店、仓储区域、泡泡玛特城市乐园采取不同的管理措施，实现科学、精细化管理。办公区域：我们倡导绿色办公，通过用电、用水、用纸等管理措施，营造环保、高效、节能的办公环境。•用电管理：•淘汰高耗能设备，采取高效节电的新技术、新产品，提高公司运营能效；
二零二三年年报ANNUAL REPORT 20231112023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告• Consistently implement temperature control programs forair conditioning by establishing activation temperatures forboth summer and winter seasons. Set specific requirementsfor activation temperatures, fan speeds, and other parametersto improve the electricity consumption efficiency of airconditioning;• During the year, we launched the“Green Pop Mart, LowCarbon Emission”energy-saving activity, and displayed its QRcodes in the office area for publicity and promotion. This aimedto raise employees’awareness of electricity conservation andencourage them to engage in energy-saving practices suchas turning off lights when not in use, utilizing double-sidedprinting, recycling cardboard, and powering down unusedelectronic devices, thereby promoting the practice oflow-carbon responsibility. Employees can participate inenergy-saving activities by scanning QR codes and earnactivity points. Over the 8 months of activity, a total of 8,692low-carbon behaviors were accomplished.• Water Management:• Conduct daily inspections and maintenance management,regularly arrange maintenance personnel to inspect thedrainage system;• Install water-saving faucets, require water dispenser suppliersto set up water storage buckets in the pantry to store cleanused water and overnight water and use them for wateringplants and cleaning, maximizing the recycling of waterresources;• Set water-saving goals, cultivate staff water-saving habits,and firmly prevent water resource wastage such as running,seeping, dripping, and leaking.•持续实施空调控温技能方案，制定夏季及冬季空调开启温度，设定空调开启温度、风速等要求，提升空调用电效率；•本年度开展「绿色泡泡低碳减排」节能活动，在办公区域张贴活动二维码进行宣传推广，培养员工节约用电意识，鼓励员工参与节能行为，如随手关灯、双面打印、回收纸壳、关闭未用的电子设备等，践行低碳责任。员工可以通过扫描二维码参与节能活动并赚取活动积分，在历时8个月的活动时长中，共达成8,692次低碳行为。•用水管理：•开展日常巡视与维护管理，定期安排维修人员对排水系统进行检查；•增加节水龙头的安置，要求直饮机供应商在茶水间设置节水桶，储存干净的废弃水、过夜水，并用于浇花和清洁等，最大程度循环使用水资源；•设定节水目标，培养员工节水习惯，坚决杜绝跑、冒、滴、漏等水资源浪费的情况发生。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1122023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告• Paper Management:• Continuously implement a series of measures to reduce paperconsumption, encourage double-sided printing, reduce theuse of disposable paper cups, and recycle office paper andcardboard;• Utilize electronic registration at the front desk to replacetraditional paper registration, avoiding paper wastage;• Actively promote digital office practices, encourage staff to useelectronic documents and email for office work, reducing thegeneration and delivery of paper documents.In addition, the Company considers energy conservation andconsumption reduction as factors in the selection of office locations.Currently, both of our leased office buildings in Beijing and Shanghaihave obtained green building certifications.Physical Store:We strictly follow equipment management requirements during storeoperating and non-operating hours. Except for regular working hours(including the normal opening hours of stores), unnecessary electricalequipment will be turned off in other time slots, with only emergencylighting remaining active.•用纸管理：•持续采取一系列措施减少纸张使用，鼓励员工双面打印、减少一次性纸杯的使用，对办公室纸张和纸壳进行二次回收利用；•前台采用电子登记取代传统的纸质登记，避免纸张浪费；•积极推进电子化办公，鼓励员工使用电子文件和邮箱办公，减少纸质文件的生成和传输。此外，本公司在办公地点选址上将节能降耗纳入考虑评估因素。目前，我们在北京和上海的两处租赁办公楼均已获得绿色建筑认证。线下门店：我们按照门店营业及非营业时间严格执行设备管理要求，除员工在班时间（包含门店正常营业时间）外，其他时间段均只保留消防应急照明，关闭不必要的用电设备。
二零二三年年报ANNUAL REPORT 20231132023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Roboshop:Based on the frequency of roboshop usage, we reasonably plan theiroperating hours, set automatic on/off times, switch to standby modeduring idle times, and automatically shut down during non-operatinghours to optimize energy consumption. Additionally, we adjust thelighting brightness of internal equipment in roboshop and employlow-power control system to reduce its overall energy consumption.To minimize paper consumption, we have eliminated paper distributionsheets and promoted personal digital assistant (PDA) to expandpaperless order picking. Furthermore, we have decreased the use ofphysical product displays in roboshop windows, and gradually pilotedfull screen displays and versatile equipment to reduce the need forproduct replacement, thereby saving resources in manufacturingand logistics. Additionally, we have eliminated city transshipmentfrom warehouses, with products being directly shipped from mainwarehouses to roboshop specialists, effectively reducing the use andcost of transport packaging materials.Warehouse:We have developedWarehouse Energy Conservation Regulationstoclearly regulate the use of lighting and fans within the warehouse,requiring the rational use of electrical equipment in different weatherconditions and operational areas, and promoting the use of low-energyLED energy-saving lamps to gradually replace traditional lamps. Wecontinue to promote the recycling and reuse of packaging cartons,cardboard, and other materials, and promote the use of recyclablelogistics boxes and pallets to reduce the use of packaging cartons,disposable wooden pallets, etc.机器人商店：我们根据机器人商店被使用的频率，合理规划其营业时间，设置自动开关机时间，空闲时转为待机，非营业时间自动关闭，控制能源使用。此外，我们调节机器内设备的灯光亮度，采用低功耗控制系统来降低整机的运行能耗。为减少纸张消耗，我们取消纸质配货单，推广掌上电脑(PDA)拣货以扩大无纸化拣货作业的范围。同时，减少机器人商店橱窗实物产品展示，逐步试点采用全画面展示和通用道具，降低橱窗实物产品的更换频率，节约相应实物产品的制作及物流运输资源。此外，我们取消了城市仓中转运输，机器人商店的产品直接由大仓库发货给机器人商店专员，有效减少运输包装材料的使用和费用。仓储区域：我们已制定《仓库能耗节约规定》，明确规范库区照明及风扇设备的使用要求，要求在不同天气情况下及不同作业区域内合理使用用电设备，推广低能耗LED节能灯，以逐步替代传统灯具。我们持续推进回收再利用工作，回收利用包装纸箱、卡板等材料，推广可循环物流箱和可循环托盘的使用，以减少包装纸箱、一次性软木托盘等的用量。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1142023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告POP LAND:POP LAND is an urban renovation project in response to the appealof the Ministry of Housing and Urban-Rural Development, which hasavoided large-scale demolition and construction, and reduced negativeimpacts on the surrounding environment and natural resources byreconstructing and updating the main structure of the original building.Always adhering to the principle of protecting the environment,cherishing natural resources and improving energy efficiency, wehave strengthened the management of relevant work since thecommencement of the construction. Its high-standard rainwaterdrainage system with a recurrence interval of three years (one extremerainfall matching the designed drainage system will occur every threeyears on average) can ensure effective drainage under extreme weatherconditions, and channel rainwater into the river or make it infiltrate intothe green area. We focus on the protection of existing vegetation suchas large trees, and take professional protective measures during theconstruction process to ensure proper protection.POP LAND adopts high-quality cooling, heating, lighting and waterequipment, and implements efficient environmental protectionmeasures in compliance with relevant national standards, becoming amodel in green operation.• Cooling and heating: It adopts a renewable air source heat pumpsystem for cooling and heating. The unit adopts variable refrigerantflow air-conditioning systems, and uses electricity rather than fossilfuels to achieve smoke-free emissions. All the energy efficiencyindexes are higher than the relevant requirements in the existingnational standardGB 50189-2015 Design standard for energyefficiency of public buildingsand national standard efficiency.The cooling and heating source and air-conditioning terminalequipment are equipped with an automatic control system withremote start and stop, monitoring and other functions, and theair-conditioning ventilation system adopts air supply with largetemperature difference to reduce energy consumption;泡泡玛特城市乐园：泡泡玛特城市乐园是城市更新旧改项目，响应国家住房与城乡建设部的号召，在原有建筑的主体结构上进行改造与更新，避免大规模拆建，减少对周边环境与天然资源的负面影响。自建设之初，我们始终秉持环境保护、珍视天然资源、提高用能效率的原则，加强相关工作的管理。乐园室外雨水排水系统采用重现期为3年的高标准（即平均每三年才会遇到一次与设计的排水系统相匹配的极端降雨事件），确保在极端天气条件下能够有效排水，雨水被引导至河道或回渗至绿化区。我们注重保护大型树木等现有植被，在施工过程中采取专业的保护措施，确保其得到妥善照顾。泡泡玛特城市乐园在供冷供暖、照明以及用水等方面采用优质设备，实施高效的环保措施，均符合国家相关标准，彰显绿色运营的典范。•供冷供热方面：乐园使用可再生的空气源热泵系统供冷供热，机组采用变制冷剂流量空调系统，使用电力而非化石燃料，实现无烟排放，能效指标均优于国家现行《GB 50189-2015公共建筑节能设计标准》及国家标准效能的相关要求。冷热源和空调末端设备设有自控系统，具备远程启停、监测等功能，空调风系统采用大温差送风降低能耗；
二零二三年年报ANNUAL REPORT 20231152023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告• Lighting: The lighting power density (LPD) in various places of POPLAND complies with the stipulated value in the national standardGB 50034-2013 Standard for lighting design of buildings, thenightscape lighting limit value complies with the stipulated valuein the industrial standardJGJ/T163-2008 Code for lighting designof urban nightscape, and the energy efficiency of light source andballast is no lower than the evaluating value of energy conservationof corresponding energy efficiency standards. Straight-tubefluorescent lamps, high power factors, low-harmonic compactfluorescent lamps, LED and other light sources are adopted, whichcan avoid the use of indirect lighting or diffuse reflective lightingceiling, reduce power consumption while improving lighting effect,reduce energy waste and environmental pollution, and achievegreen lighting scheme.• Water using: The greening sprinkling system adopts efficient andwater-saving irrigation modes. Our water system uses pipes andfittings with good corrosion resistance and durability to minimizewater pipeline leakage and waste of water resources.In addition, the Company also focuses on the R&D and managementof green packaging materials. We integrate the concept of greenenvironmental protection and low-carbon into the whole life cycleof products, comprehensively consider the environmental protectionattributes and energy saving and consumption reduction needs ofproducts from product design, production, packaging, logistics toscraping, constantly optimize the application of packaging materials, inorder to reduce environmental impacts and implement the green andenvironmental protection concept.•照明方面：乐园各场所的照明功率密度值(LPD)符合国家标准《GB 50034-2013建筑照明设计标准》规定值，夜景照明限值符合行业标准《JGJ/T163-2008城市夜景照明设计规范》规定值，光源、镇流器能效不低于相应能效标准的节能评价值。园区内采用直管荧光灯、高功率因数及低谐波的紧凑型荧光灯、LED等光源，避免采用间接照明或漫反射发光顶棚的照明方式，在提升照明效果的同时能够降低电力消耗，减少能源浪费和对环境的污染，实现绿色的照明方案。•用水方面：乐园绿化浇洒系统采用高效节水的灌溉方式，我们的水系统使用耐腐蚀、耐久性能好的管材、管件等，最小程度避免用水管道漏损，浪费水资源。此外，绿色包装材料的研发和管理亦是本公司重要开展的工作。我们将绿色环保和低碳理念融入产品的全生命周期，从产品设计、生产、包装、物流到报废，全面考量产品的环保属性及节能降耗需求，不断优化包装材料的应用，减少对环境的影响，践行绿色环保理念。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1162023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Case: Launching the First“Carbon Neutrality”Product, andInitiating the New Trend of Environmental Protection in thePop Toy IndustryIn 2023, we realized innovation breakthroughs in product design,production, packaging and transportation. We, together with ChinaEnvironmental Protection Foundation, launched the first“carbonneutrality”pop toy in the industry – the jointly designed action figure“DIMOO x Castor Fiber Birulai”at Shanghai Pop Toy Show.“DIMOO x Castor Fiber Birulai”action figure adopted lots of measuresto reduce emissions in the product life cycle. In terms of productpackaging, we used 30% rPET (Recycled polyester) to produce plasticparts, and adopted 20% PCR (Post-consumer recycled material) forinjection molding production, laying a foundation for the reduction ofcarbon emissions. In the production process, renewable energy wasused for production, and the carbon emissions were further reducedby optimizing the production technology, saving energy and reducingconsumption reduction. As for logistics, 500 recyclable logistics boxeswere used to replace disposable cartons. In addition, we purchasedhigh-quality carbon credit projects to achieve carbon neutrality goalsin the product life cycle. The product has passed the authoritativecertification in the field of carbon neutrality by Envision Group. TheEnvision Ark Carbon Management System enables the carbon footprintmanagement of the“product life cycle”. The carbon neutrality iscompleted by writing off the verified carbon units (VCUs) equivalent tothe verified carbon standards (VCS), and the verification and certificationare conducted by China Quality Certification Center.案例：发布首款「碳中和」产品，开启潮玩界环保新风潮2023年，我们在产品设计、生产、包装及运输等方面实现突破性的创新。我们在上海PTS国际潮流玩具展携手中华环境保护基金会发布行业首款「碳中和」潮玩产品—「DIMOO×蒙新河貍」联名手办。「DIMOO×蒙新河貍」手办在产品生命周期采取大量减排举措。在产品包装上，我们使用30%的rPET(Recycled polyester)再生聚酯纤维材料制吸塑件，产品中使用20%PCR(Post-consumer recycled material)再生塑料注塑生产，为减少碳排放奠定基础。在生产过程中利用可再生能源进行生产，通过优化生产工艺，节能降耗，进一步降低碳排放强度。在物流环节，采用500只可循环物流箱替代一次性纸箱。此外，我们购买高质量的碳信用项目，实现产品生命周期内的碳中和目标。该产品拥有远景科技集团在碳中和领域的权威认证，由远景方舟碳管理系统赋能「产品生命周期」碳足迹管理，通过注销等量国际核证碳减排标准(VCS)的核证减排量(VCUs)完成中和，并由中国质量认证中心完成核查认证。
二零二三年年报ANNUAL REPORT 20231172023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Case: Recyclable Logistics Boxes and Pallets were Used toReduce Carbon EmissionsDuring the year, we continued to conduct recyclable logistics boxprojects, using recyclable logistics boxes during the transportationfrom factories to warehouses and from warehouses to stores. Therecyclable logistics boxes were recycled several times, which reducedcarbon emissions and costs. In 2023, 2,336 small-size recyclable logisticsboxes and 4,359 large-size ones were used in factories; 3,528 recyclablelogistics boxes were used from warehouses to stores. Recyclable logisticsboxes were recycled 10,429 times during the year, which reduced thecarbon emissions by approximately 3.1 tons as compared to disposablecartons. We also replaced disposable wooden pallets with recyclablepallets for goods transportation and circulation in warehouses andfactories. In 2023, recyclable pallets were used 26,554 times in factoriesand 56,014 times in warehouses. Recyclable pallets were used 60,450times in total, which reduced the carbon emissions by approximately274 tons as compared to disposable wooden pallets.Case: New Craftsmanship Development and ProductPackaging UpgradingIn 2023, we made our product packaging lighter, more degradable andwith fewer plastics.In order to produce lighter products, we have environmentally optimisedand upgraded packaging materials in MEGA COLLECTION products,resulting in a shrinkage of 29% in the current packaging of“MEGASPACE MOLLY 1000%”products over the original product packaging.The“MEGA SPACE MOLLY 400%”product packaging has been optimisedin the blister from a folio structure to an upper and lower lid structureand transformed to the new product packaging of 235 x 175 x 340 mmfrom the original packaging size of 250 x 200 x 345 mm, with 18.9%of improvement in the product packaging volume, which has savedpackaging costs and transportation costs.案例：应用可循环物流箱及托盘，降低碳排放本年度，我们持续开展可循环物流箱项目，在工厂到仓库、仓库到门店的运输途中采用可循环物流箱，可循环物流箱能够多次循环使用，减少碳排放并降低成本。2023年，工厂共使用2,336只小号可循环物流箱，4,359只大号可循环物流箱；仓库到门店共使用3,528只可循环物流箱。全年可循环物流箱共计循环使用10,429次，相比一次性纸箱，约降低碳排放达3.1吨。我们亦在仓库和工厂通过可循环托盘代替一次性软木托盘进行商品运输流转，2023年工厂使用可循环托盘26,554次，仓库使用可循环托盘56,014次，可循环托盘共计使用60,450次，相比一次性软木托盘，约降低碳排放274吨。案例：新工艺开发，升级产品包装2023年，我们对产品包装开展轻量化、可降解及去塑化改良。在轻量化方面，我们对MEGA COLLECTION产品中的包装材料进行环保优化和升级，「MEGA SPACE MOLLY 1000%」产品现有包装比原包装体积缩小29%，「MEGASPACE MOLLY 400%」产品包装将吸塑由对开结构优化为上下盖结构，在原包装尺寸250×200×345毫米的基础上优化为235×175×340毫米的新产品包装，产品包装体积优化比例达到18.9%，节约了包装成本和运输成本。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1182023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告In order to produce degradable products, we completed thereplacement of the foamed plastic liner in the original“MEGA SPACEMOLLY 1000%”product packaging with degradable and recyclablepaper tray liner. EVA bags, the original packaging material, werereplaced with PLA biodegradable plastic bags, and the corrugatedboxes and colour-coated paper cards were made with paper with ForestStewardship Council (FSC) certification. All these measures can helpreduce the environmental impact of our packaging materials.In order to use less plastics, we have implemented a series of measures,including certain product lines applying environmental-friendly soy inkinstead of plastic film; choosing the special paper to enhance the surfacetexture of packaging and better suit the artistic expression; completelyreplacing the offset-and-colour-printed and film-laminated expressboxes with monochrome-printed express cartons with zips; applyingpaper fibre materials instead of plastic tear strips of original blind boxes,etc., to upgrade the product packaging.Environment and Natural ResourcesThe Company highly values the protection of the environment andnatural resources. In our business development and daily operation,the Company has actively responded to national policies of energyconservation and environmental protection, promoted the conceptof environmental protection, fulfilled the low-carbon operation mode,and minimised the impact on the environment and natural resources,thereby enhancing our green competitiveness.Given our operation features, the Company has rather little influence onthe environment and natural resources. In 2023, we have not discoveredany significant event of pollution and impact on the environment andnatural resources in our operation.在可降解方面，我们将「MEGA SPACEMOLLY 1000%」产品原包装内的保丽龙泡沫内胆全面更换为可降解、可回收纸托内胆，将原包装材料EVA袋替换为PLA生物可降解塑料袋，瓦楞纸箱及彩卡使用具有森林管理委员会(FSC)认证的纸张，以减少包装材料对环境的影响。在去塑化方面，我们实施一系列措施减少塑料使用，部分产品线使用环保大豆油墨替代塑胶膜；使用特种纸增加包装表面质感，使其更契合艺术表达；将原有胶印覆膜彩印快递箱100%替换成单色印刷拉链快递纸箱；用纸纤维材料替代原盲盒塑胶撕拉条等，进一步升级产品包装。环境及天然资源本公司重视保护环境及天然资源，在公司业务发展及日常运营中，积极响应国家节能环保政策，推行绿色环保理念，践行低碳运营模式，最小化对环境及天然资源的影响，不断提升企业的绿色竞争力。基于公司的业务特点，本公司对环境及天然资源的影响较小。2023年，我们在经营中未发现对环境及天然资源造成重大污染和影响的事项。
二零二三年年报ANNUAL REPORT 20231192023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Response to Climate ChangeAs climate change is now one of the most serious challenges worldwide,responsible enterprises should take countermeasures to promoteclimate action on their own initiatives. The Company is keenly awareof the seriousness and urgency of climate change by proactivelyidentifying and assessing short medium and long term climate-relatedrisks, formulating comprehensive countermeasures, and continuouslyimproving our climate risk management system to mitigate the impactsof climate change.During the year, based on the existing risk management system, wecontinued to identify and analyse climate change risks to ensure acomprehensive understanding of climate risks in each departmentthrough communication and collaboration with various departments.We accordingly formulated and improved management strategies andcountermeasures against climate risks.The major risks and opportunities identified, as well as countermeasuresimplemented against climate change by the Company, are as follows:应对气候变化气候变化是当前最严峻的全球性挑战之一，负责任的企业应主动采取应对措施，推动气候行动。本公司深刻认识到气候变化的严重性和紧迫性，主动识别与评估短、中、长期的气候相关风险，制定全面的应对措施，不断完善气候风险管理体系，缓解气候变化带来的影响。在本年度，我们基于现有的风险管理体系，持续梳理分析气候变化风险，通过与各部门沟通协作，确保各部门全面理解气候风险，并据此制定和完善气候风险的管理策略与应对措施。本公司识别的主要气候变化风险、机遇以及制定的应对措施如下：TypesClimate-related risks/opportunitiesDescription of risks/opportunitiesCountermeasures类型气候相关风险╱机遇风险╱机遇描述应对措施Physical risks物理风险Acute weatherrisks急性天气风险The occurrence of extreme weather,such as rainstorms, typhoons andsnowstorms may cause damage to thehealth and safety of staff and propertyof the Company.暴雨、台风、暴雪等极端天气的发生，可能使公司人员健康与安全及公司财产受损。Develop emergency plans in line with differentsituations, establish efficient mechanism ofdisaster relief, issue weather alerts in advancewhen extreme weather occurs, regularly assessmeasures for disaster prevention, reserveemergency supplies, such as umbrellas andraincoats, adjust operation hours and workingways when necessary, identify possible assetlosses, and purchase necessary staff and propertyinsurance.针对不同情况制定应急预案，建立高效应急救灾机制，做好极端天气预警提示；定期评估防灾措施，储备雨伞、雨衣等应急物资，必要时灵活调整运营时间及办公方式；识别可能发生的资产损失，购买必要的人员与财产保险。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1202023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告TypesClimate-related risks/opportunitiesDescription of risks/opportunitiesCountermeasures类型气候相关风险╱机遇风险╱机遇描述应对措施Extreme weather such as rainstorms,typhoons and snowstorms may causePop Mart interruptions in transportoperations.暴雨、台风、暴雪等极端天气的发生可能导致泡泡玛特运输中断的风险。Continuously improve the environment ofwarehouse hardware facilities, enhance thebusiness operation and emergency responsecapabilities of warehouses, establish an integratedlogistics and transportation system coveringconventional and emergency logistics andtransportation, communicate with logisticsservice providers and adjust the work plan ina timely manner as extreme weather occurs,and use emergency logistics transportationmethods such as air or rail transportation whennecessary, improve the mechanism for identifyingand predicting extreme weather, and regularlyassess the impact of bad weather on producttransportation.持续改善仓库硬件环境，提升仓库业务操作及应急能力；建立覆盖常规物流运输与紧急物流运输的一体化物流运输体系，在极端天气发生时，及时与物流服务商沟通并调整工作方案，必要时采用空运或铁路运输等紧急物流运输方式；完善极端天气识别与预判机制，定期评估恶劣天气对产品运输的影响。
二零二三年年报ANNUAL REPORT 20231212023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告TypesClimate-related risks/opportunitiesDescription of risks/opportunitiesCountermeasures类型气候相关风险╱机遇风险╱机遇描述应对措施Chronicweather risks慢性天气风险Continuous hot weather may leadvisitors and employees of POP LANDto suffer heatstroke outdoors.持续高温天气导致泡泡玛特城市乐园游客、员工在户外中暑的风险。Formulate emergency plans for the continuoushot weather during the summer, issue weatheralerts in advance when extreme weather occurs,and take precautionary measures, including butnot limited to enabling tourists to be accessible toticket refunds or postphoned visit, providing firstaid knowledge concerning heat stroke to doctorsin the park, reserving medicines to alleviate heatstroke at park services; placing ice machines inthe park; and placing spraying cooling facilities inoutdoor places where people gather.针对暑期持续高温天气制定应急方案，做好极端天气预警提示，采取防范措施，包括但不限于为游客提供退票或延期游玩的选择；为园区医生提供中暑相关的急救知识；在园区服务处储备缓解中暑情况的药品；在园区安置制冰机；在户外人员聚集处安置喷雾降温设施等。Transformation risks转型风险Risk of policiesand laws andregulations政策及法律法规风险Regulatory authorities graduallyimprove the disclosure requirementsfor information related to climatechange. The government alsoaccelerates the introduction of greenand low-carbon transformationpolicies. Failure to follow up onpolicies or meet relevant disclosurerequirements may result in regulatoryinquiries or warnings.监管机构逐步完善气候变化相关信息披露要求，政府亦加速推进绿色低碳转型政策，企业若未能及时适应政策变革或未达到相关披露要求，将面临监管机构的问询或警示。Continuously follow up on the new policiesissued by the country in response to climatechange, energy conservation and environmentalprotection, ecological protection and otherrelevant fields, analyze the impact of relevantpolicies on the Company, and developcorresponding management measures andresponse methods; improve the climate changemanagement system, strengthen communicationwith regulatory authorities, and improve thetransparency of information disclosure.持续关注国家在应对气候变化、节能环保、生态保护等相关领域发布的新政策，分析相关政策对公司的潜在影响，制定相应管理措施及应对措施；优化气候变化管理体系，加强与监管部门的沟通协作，提升信息披露透明度。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1222023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告TypesClimate-related risks/opportunitiesDescription of risks/opportunitiesCountermeasures类型气候相关风险╱机遇风险╱机遇描述应对措施Market risk市场风险The concept of green, low-carbon,and sustainable consumption isbecoming increasingly popular, andcustomers are paying more attentionto the impact of their products onthe environment and the Company’smeasures to address climate change.Failure to grasp relevant trendsin a timely manner may lead tocustomer loss; climate change maylead to higher energy prices, therebyincreasing logistics costs.绿色、低碳、可持续消费理念逐步盛行，客户更加关注产品的环境影响，关注公司在应对气候变化方面的措施，未能及时把握相关趋势，可能导致客户流失；气候变化可能导致能源价格上涨，从而增加物流成本。Pay attention to customers’expectations forgreen, low-carbon, and sustainable products,ensure timely and accurate disclosure ofinformation on response to climate changechallenges, innovate green product designs, trackthe development trend of green market, promotethe transformation and upgrading of products,and gradually adjust the transportation plan byincreasing the number of new energy vehicles.关注客户对产品在绿色、低碳、可持续等方面的期望，确保及时、准确地披露应对气候变化挑战的信息，创新绿色产品设计，跟踪绿色市场的发展趋势，推动产品的转型升级；逐步调整运输方案，增加新能源车辆。Technologyrisk技术风险Technical bottlenecks and failureto make a breakthrough inenvironmental protection and low-carbon technology could result ingreen products lagging behind theindustry peers.遇到技术瓶颈，无法攻克环保低碳技术，导致绿色产品落后于同业。Recruit top experts and increase investment intechnology research and development.招聘顶尖专家人才，加大技术研发的投入。
二零二三年年报ANNUAL REPORT 20231232023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告TypesClimate-related risks/opportunitiesDescription of risks/opportunitiesCountermeasures类型气候相关风险╱机遇风险╱机遇描述应对措施Reputation risk声誉风险Poor performance in addressingclimate change could lead to a loss ofconfidence among stakeholders in theCompany.在应对气候变化方面表现欠佳，导致各利益相关方对本公司失去信心。Regularly review the Company’s sustainabledevelopment strategy and make timelyadjustments according to the current situation;enhance employees’awareness of climatechange and foster employees’awareness andsense of purpose to adopt more positive actions;strengthen communication with stakeholdersand listen to their opinions and suggestions forcontinuous improvement.定期审视本公司的可持续发展战略，根据现状及时作出调整；加强员工对气候变化的认识，培养员工意识和使命感，以采用更积极的行动；强化利益相关方沟通，倾听其意见与建议，以便不断改进。Opportunities机遇Greenoperation绿色运营Advance enterprises’transformation tonet zero low-carbon emission.促进企业向净零低碳转型。Develop strategic plans for new energytransportation; adopt more environmentallyfriendly transport modes; increase new energytransportation technology and equipment; build agreen supply chain.制定新能源运输战略规划；采用更环保的运输方式；增加新能源运输技术与设备；打造绿色供应链。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1242023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告TypesClimate-related risks/opportunitiesDescription of risks/opportunitiesCountermeasures类型气候相关风险╱机遇风险╱机遇描述应对措施Greenproducts绿色产品Urge enterprises to invest in anddevelop and innovate on greenproducts and green packagingmaterials, so as to open up newmarkets.促进企业投资和研发创新绿色产品及绿色包装材料，开辟新市场。Focus on the design and application of greenproducts and green materials; strengthentechnology research and development, optimizeproduction processes, and enhance greeninnovation capabilities; understand marketdemand, accurately locate green products, andpromote successful products or cases to theentire product line; strengthen green productcertification and publicity.专注于绿色产品、绿色材料的设计与应用；加强技术研发，优化生产工艺，提升绿色创新能力；了解市场需求，精准定位绿色产品，将成功产品或案例推广至全线产品；加强绿色产品认证与宣传推广。Resources andcooperation资源与合作Promote cooperation with industry orother professional organizations andcreate more opportunities.促进与行业内或其他专业机构合作，带来更多合作机会。Seek cooperation opportunities and broadencooperation channels; strengthen close ties withindustry organizations; establish a cooperativenetwork to promote cooperation and resourceintegration through technical support.积极寻求合作机会拓宽合作渠道；加强与行业组织的密切联系；建立合作关系网络，通过技术扶持，推动合作与资源整合。
二零二三年年报ANNUAL REPORT 20231252023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告环境目标及达成进展本公司支持国家「双碳」目标，量化管理自身碳足迹，持续跟踪环境管理进程。本年度，我们对环境目标的达成进展进行检讨，相关环境目标的达成进展如下：GoalsProgress Achieved目标达成进展Emission reductiongoalBy the end of 2030, the greenhouse gasemissions (Scope 1 and 2)(1)of the Companywill reach a carbon dioxide emission peak.Relevant work was in process and unified emissioncalculation standards were established to ensure datacomparability.减排目标截至2030年底，本公司范围一及范围二(1)温室气体排放实现碳达峰。积极开展相关工作，已确立统一的排放物计算标准，确保数据的可比性。Waste reduction goalBy the end of 2023, at least 40% of our physicalstores will popularize the use of recyclablelogistics boxes(2).The goal has been achieved, with 46.7% of our physicalstores using recyclable logistics boxes by the end of2023.减废目标截至2023年底，至少40%的线下门店普及可循环物流箱的使用(2)。目标已达成，截至2023年底，已有46.7%的线下门店使用可循环物流箱。Note:(1) Scope 1 covers the emission of greenhouse gases directly produced by thebusinesses that are owned or controlled by the Company, such as carbonemissions from the consumption of petrol and diesel by official businessvehicles; Scope 2 covers the emission of greenhouse gases indirectlyproduced by electricity generation, heating, cooling and steam internallyconsumed by the Company, either purchased or acquired.(2) The goal disclosed in the 2022 Environmental, Social and Governance Reportof the Company is that by the end of 2023, at least 90% of the packagingcartons generated in stores will be collected and recycled by the Companyor by qualified third parties. The Company has launched the use of recyclablelogistics boxes to replace traditional packaging cartons. During the year,taking into account the Company’s business development, the layout ofstore warehouses, and the turnover time of recyclable logistics boxes, theCompany reviewed this goal and revised it upon the approval of the Boardof Directors.注：(1)范围一涵盖由本公司拥有或控制的业务直接产生的温室气体排放，如公务用车消耗汽油、柴油产生的碳排放；范围二涵盖来自公司内部消耗（购买的或取得的）电力、热能、冷冻及蒸汽所引致的间接温室气体排放。(2)本公司《2022年环境、社会及管治报告》披露的目标为，截至2023年底，至少90%门店生产的包装纸箱被本公司或者有资质的第三方回收利用。本公司已推出可循环物流箱的使用以替代传统包装纸箱，本年度，综合考虑本公司业务发展情况，以及门店仓库布局、可循环物流箱回收周转时间等因素，本公司对该目标进行了检讨，并经董事会审议批准后完成修订。Environmental Goals and Progress AchievedTo support China’s“Carbon Peaking and Carbon Neutrality”goal, theCompany quantifies its carbon footprint and continuously tracks itsenvironmental management process. During the year, we reviewed theprogress towards achieving our environmental goals, and the details ofthis progress are outlined below:
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1262023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告GoalsProgress Achieved目标达成进展Energy-saving goalBy the end of 2025, office electricityconsumption per capita will be reduced by10% as compared with that of 2020.Carry out fun games to mobilize electricityconservation, strengthen electricity management, andtake energy-saving renovation and other measures toachieve the goal. In 2023, the electricity consumptionper capita in the Dongguan office reduced by 6%compared to 2022, and that in the Shenzhen officereduced by 4% compared to 2022.节能目标截至2025年底，人均办公耗电量较2020年减少10%。倡导并开展趣味活动动员节约用电，加强用电管理，采取节能改造等措施推动目标实现。2023年，东莞办公区人均耗电量较2022年减少6%，深圳办公区人均耗电较2022年减少4%。Water-saving goalBy the end of 2025, office water consumptionper capita will be reduced by 10% as comparedwith that of 2020.Continue to increase water-saving efforts and takemeasures such as posting water-saving labels, dailywater inspection and maintenance management, andwater-saving renovation, to achieve the goal. In 2023,the water consumption per capita in the Shenzhenoffice reduced by 15% compared to 2022.节水目标截至2025年底，人均办公耗水量较2020年减少10%。持续推进节水工作，通过张贴节水标识、坚持日常用水巡视与维护管理、节水改造等措施推动目标实现。2023年，深圳办公区人均耗水量较2022年减少15%。
二零二三年年报ANNUAL REPORT 20231272023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Environment Key Performance Indicators(1)The 2023 environment key performance indicators of the Companyare set out below. Unless otherwise stated, the scope of environmentstatistics covers major offices and operating stores of Pop Mart in theMainland China and POP LAND, whereas the rest will be included as andwhen appropriate in the future.环境关键绩效指标(1)本公司2023年环境类关键绩效指标列示如下。除另有说明外，环境类数据统计范围涵盖泡泡玛特在中国内地主要办公区、运营门店及泡泡玛特城市乐园，其余运营场所未来将适时加入统计范围。Emission(2)排放物(2)IndicatorsData for 2023指标2023年数据Total greenhouse gas (“GHG”) emission (Scope 1 and 2)(3)(tons)温室气体排放总量（范围一及范围二）(3)（吨）6,418.01Direct GHG emission (Scope 1) (tons)直接温室气体排放（范围一）（吨）Petrol汽油19.85Natural gas天然气15.50Indirect GHG emission (Scope 2) (tons)间接温室气体排放（范围二）（吨）Purchased electricity外购电力6,382.66Total GHG emission (Scope 1 and 2) per million revenue (tons/RMB millions)每百万元销售额温室气体排放量（范围一及范围二）（吨╱百万元）1.02Total hazardous wastes (tons)(4)有害废弃物总量（吨）(4)0.54Total hazardous wastes per million revenue (tons/RMB millions)每百万元销售额有害废弃物总量（吨╱百万元）0.0001Total non-hazardous wastes (tons)(5)无害废弃物总量（吨）(5)329.23Total non-hazardous wastes per million revenue (tons/RMB millions)每百万元销售额无害废弃物总量（吨╱百万元）0.05
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1282023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Notes:(1) Due to the increase of POP LAND, certain new office areas and stores ofthe Company in 2023 as per its business development, the total energyconsumption, total non-hazardous wastes, total office water consumptionand total GHG emission have increased overall as compared with that of theprevious year.(2) Due to the small number of self-owned vehicles of the Company, theemission of exhaust emissions such as nitrogen oxides and sulfur oxidesgenerated thereof was limited. Based on the nature of the operation of theCompany, its major type of gas emissions is GHG emission from electricityand fuels derived from fossil fuels.(3) The GHG list includes carbon dioxide, methane and nitrous oxide. Theymainly come from purchased electricity and fuels. GHG emissions data ispresented in carbon dioxide equivalent (CO2e) and is based on theBaselineEmission Factors for Regional Power Grids in China Under the 2021 EmissionReduction Projectissued by the Ministry of Ecology and Environment ofthe People’s Republic of China, and the2006 IPCC Guidelines for NationalGreenhouse Gas Inventories (2019 Revision)issued by the IntergovernmentalPanel on Climate Change (IPCC).(4) Hazardous wastes generated from the Company’s operation mainly includewaste toners, waste toner cartridges and waste ink cartridges for officeprinting devices, and the replacement or disposal of which are handled byprinting service suppliers or qualified professional companies.(5) Non-hazardous wastes generated from the Company’s operation mainlyinclude domestic waste, waste paper and electronic waste. Domestic waste ishandled collectively within the premises. Waste paper, including A3 copyingpaper, A4 copying paper and thermal paper, which are handled collectivelywithin the premises. Electronic wastes are handled by qualified professionalcompanies.注：(1)因业务发展需要，2023年本公司新增泡泡玛特城市乐园、部分办公区域及门店，故能源消耗总量、无害废弃物总量、办公用水消耗总量及温室气体排放总量等数据整体较上年度有所增加。(2)本公司自有公车数量较少，因此产生的氮氧化物、硫氧化物等废气排放较少。基于本公司的运营性质，其主要气体排放为温室气体排放，源自使用由化石燃料转化的电力及燃料。(3)温室气体清单包括二氧化碳、甲烷和氧化亚氮，主要源自外购电力及燃料。温室气体核算乃按二氧化碳当量呈列，并根据中华人民共和国生态环境部刊发的《2021年减排项目中国区域电网基准线排放因子》及政府间气候变化专门委员会(IPCC)刊发的《IPCC 2006年国家温室气体清单指南2019修订版》进行核算。(4)本公司运营涉及的有害废弃物主要包括办公打印设备废弃硒鼓、废弃墨盒、废弃碳粉等，其更换或处置由打印服务供应商或有资质的专业公司负责处理。(5)本公司运营涉及的无害废弃物主要为生活垃圾、废弃纸张及电子废弃物。生活垃圾由物业统一处理；废弃纸张包括A3复印纸、A4复印纸及热敏纸，由物业统一处理；电子废弃物由有资质的专业公司负责处理。
二零二三年年报ANNUAL REPORT 20231292023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Energy and Resources Consumption能源及资源消耗IndicatorsData for 2023指标2023年数据Total energy consumption (MWh)(1)能源消耗总量（兆瓦时）(1)10,832.01Direct energy consumption (MWh)直接能源消耗（兆瓦时）Petrol汽油77.57Natural gas天然气76.36Indirect energy consumption (MWh)间接能源消耗（兆瓦时）Purchased electricity(2)外购电力(2)10,678.08Total energy consumption per million revenue (MWh/RMB millions)每百万元销售额能源消耗量（兆瓦时╱百万元）1.72Office water consumption (tons)(3)办公用水消耗量（吨）(3)12,716.65Office water consumption per million revenue (tons/RMB millions)每百万元销售额办公用水消耗量（吨╱百万元）2.02Total packaging materials for finished products (tons)(4)制成品所用包装物总量（吨）(4)6,737.00Total packaging materials for finished products per million revenue (tons/RMB millions)每百万元销售额耗用制成品包装物量（吨╱百万元）1.07
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1302023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Notes:(1) Energy consumption is calculated on the basis of the conversion factorset out in theGeneral Principles of Consolidated Energy ConsumptionCalculation (GB/T 2589-2020), the national standard of the People’s Republicof China, including purchased electricity and petrol consumption forvehicles.(2) Electricity charges for Guangzhou office area are included in property fees,and the consumption of purchased electricity cannot yet be measuredseparately, therefore, data for Guangzhou office area is not included in thepurchased electricity for the reporting period.(3) Except for the Company’s Beijing, Shanghai, Shenzhen, Xinxiang office areasand POP LAND, the office water usage in other office areas and operatingstores is managed by their respective premises. Water charges are includedin property fees, and water usage cannot yet be measured separately. Hence,during the reporting period, only data from Beijing, Shanghai, Shenzhen,Xinxiang office areas and POP LAND is collected for office water consumptionand office water consumption intensity. Our office water is sourced frommunicipal pipeline network, thus there is no obstacles in securing watersupply.(4) Packaging materials mainly include plastic packaging bag, carton, paper boxand paper bag.注：(1)能源消耗量数据是根据中华人民共和国国家标准《综合能耗计算通则(GB/T 2589-2020)》中提供的有关换算因子进行计算，包含外购电力和公车耗油。(2)广州办公区电费包含在物业费中，外购电力消耗量尚不能单独计量，故本报告期内，外购电力未包含广州办公区的数据。(3)除公司在北京、上海、深圳、新乡办公区及泡泡玛特城市乐园外，其余办公区及运营门店办公用水为办公区物业控制，水费包含在物业费中，用水量尚不能单独计量，故本报告期内，办公用水消耗量及办公用水消耗强度仅统计了北京、上海、深圳、新乡办公区及泡泡玛特城市乐园的数据。我们的办公用水来自市政自来水管网供水，在求取适用水源上不存在问题。(4)包装物主要包括塑料包装袋、纸箱、纸盒及手提纸袋。
二零二三年年报ANNUAL REPORT 20231312023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告V. EMPLOYMENT AND LABOR STANDARDSAdhering to the management philosophy of“employees are ourpartners”, the Company continues to improve the talent managementsystem, promotes diversified talent training mechanism, develops newchannels for talent introduction, enhances the effectiveness of humanresources, and guarantees a safe and healthy working environment andequal employment opportunities for employees, so as to safeguard thelegitimate rights and interests of the employees, builds a career platformfor the realization of employees’individual talents and dreams, andachieve mutual development with the employees.Employment ManagementIn strict compliance with laws and regulations such as theLabor Lawof the People’s Republic of China(《中华人民共和国劳动法》) and theLabor Contract Law of the People’s Republic of China(《中华人民共和国劳动合同法》) and the relevant laws, regulations and control regulationsof the countries or regions in which other operations are locatedaround the globe, the Company has formulated a series of personnelmanagement systems such as theHuman Resources ManagementSystem, theAttendance Management System, theProbationManagement System, theBusiness Trip Management System, theExpatriate Management Systemand theVocation Management System.The Company has provided clear regulations on employee recruitment,employment, compensation, benefits, promotion, termination,working hours, equal opportunity, diversity, anti-discrimination, andother personnel and welfare benefits. We regulate labor relations inaccordance with the law and regularly review and update our humanresources systems in conjunction with amendments to national lawsand regulations. In view of the accelerated global development of theCompany, we have introduced an international recruitment platform andactively carried out multi-channel employee recruitment and personnelmanagement.五、雇佣及劳工准则本公司秉承「员工是我们的伙伴」为管理理念，持续完善人才管理体系，推动多元化人才培养机制，开拓人才引进的新渠道，提升人力资源效能，保障员工安全健康工作的工作环境和平等的就业机会，维护员工合法权益，打造实现员工个人才能和梦想的事业平台，与员工共同成长进步。雇佣管理本公司严格遵守《中华人民共和国劳动法》《中华人民共和国劳动合同法》等法律法规，以及全球其他运营地所在国家或地区相关法律法规及管理条例，制定《人力资源管理制度》《考勤管理制度》《试用期管理制度》《出差管理制度》《员工外派管理制度》《休假管理制度》等人事管理制度，在员工招聘、雇佣、薪酬、福利、晋升、解聘、工作时数、平等机会、多元化、反歧视以及其他人事与福利待遇等方面做出明确规定。我们依法规范劳动关系，结合国家法律法规的修订，定期复盘各项人力资源制度并予以完善更新。鉴于本公司正在加速全球化发展步伐，我们已引入国际化招聘平台，积极开展多渠道员工招聘及人事管理工作。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1322023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We strive to create an inclusive and diverse working environment toproviding equal job opportunities to all employees and ensure fairtreatment in recruitment, wages, benefits, training opportunities, workarrangements, promotions, disciplinary actions and dismissals. Werespect human rights and firmly oppose any discriminatory or harassingbehavior, including but not limited to race, social class, nationality,gender, sexual orientation, age, appearance, religion, and maritalstatus. Discrimination against employees is strictly prohibited, allowingeach employee to fully utilise their talents in a fair and just workingenvironment.In accordance with the laws and regulations such as theLaw of thePeople’s Republic of China on the Protection of Minors(《中华人民共和国未成年人保护法》) and theRegulations on the Prohibition of ChildLabor(《禁止使用童工规定》), we have formulated and implementedlegal employment policies to eradicate child labor, forced labor, and anyother illegal labor practices. We regularly conduct recruitment trainingfor store operations and store managers, require the implementationof recruitment verification procedures, rigorously check the identitydocuments of applicants, and use human resource managementsystems to make double check of the information. The human resourcesdepartment of the Company conducts a second review during theemployee on-boarding approval stage. Once child labor is found, wewill immediately stop their work, conduct identity verification andcontact their guardian to assist in their return to their original place ofresidence. We respect the willingness of employees to work and arrangereasonable working hours, and strictly prohibit the use of violence,threats, or illegal restrictions on personal freedom to force employeesto work. Any violation, such as forced labor, is promptly dealt withaccording to regulations to safeguard the legal rights of employees. In2023, no cases of child labor or forced labor have been found.We absorb various talents according to business development needsand optimize personnel structure. As of 31 December 2023, theCompany has a total of 4,900 employees in China, Hong Kong, Macao,Taiwan and overseas regions.我们努力打造包容且多元化的工作环境，为员工提供平等的工作机会，确保所有员工在录用、工资、待遇、培训机会、工作安排、晋升、处分以及解雇等方面受到公平对待。我们尊重人权，坚决反对任何歧视行为和骚扰行为，包括但不限于种族、社会阶级、国籍、性别、性取向、年龄、外貌、宗教信仰、婚姻状况等方面，严禁对员工区别对待，让每位员工都能在公平、公正的工作环境中充分发挥自己的才能。我们根据《中华人民共和国未成年人保护法》《禁止使用童工规定》等法律法规，制定并实施合法的雇佣政策，杜绝雇佣童工、强迫劳动以及其他任何不合法的用工行为。我们定期开展针对门店运营和店长的招聘培训，要求落实招聘核查流程，严查应聘者的身份证件，并采用人力资源管理系统对证件信息进行双重核验。本公司人力资源部在员工入职审批阶段进行二次把控，一旦发现存在雇佣童工情况，则立即停止该人员工作，查验其身份信息并联系监护人，主动协助送其返回原居住地。我们尊重员工工作意愿，合理安排工作时间，严禁使用暴力、威胁或非法限制人身自由等手段强迫员工劳动。一旦发现强迫劳动等违规行为，将依规严肃处理，以保障员工合法权益。2023年，本公司尚未发现雇佣童工或强迫劳动的情况。我们根据业务发展需求，吸纳各类优秀人才，优化调整人员结构。截至2023年12月31日，本公司在中国、港澳台及海外地区共有4,900名员工。
二零二三年年报ANNUAL REPORT 20231332023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Employment2员工雇佣情况2IndicatorsAs of 31 December 2023指标截至2023年12月31日By gender (persons)Male按性别（人）男1,369Female女3,531By employment type (persons)Full-time按类别（人）全职4,696Part-time兼职204By age (persons)Under age 30 (excluding)按年龄（人）30岁（不含）以下3,333Age 30 to 50 (excluding)30岁至50岁（不含）1,565Above age 50 (including)50岁（含）以上2By geographical region (persons)Mainland China按地区（人）中国内地4,496Hong Kong, Macao, Taiwan and overseas港澳台及海外4042 The statistics of employment cover the Company’s regular employees and part-time employees and do not include outsourced employees and interns.2员工雇佣情况统计范围涵盖本公司正式员工及兼职工，不包含外包员工和实习生。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1342023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Employee Turnover Rate3员工流失率情况3IndicatorsAs of 31 December 2023指标截至2023年12月31日Employee turnover rate (%)员工流失率(%)38.28%By gender (%)Male按性别(%)男35.12%Female女39.59%By age (%)Under age 30 (excluding)按年龄(%)30岁（不含）以下48.90%Age 30 to 50 (excluding)30岁至50岁（不含）15.04%Above age 50 (including)50岁（含）以上0%By geographical region (%)Mainland China按地区(%)中国内地37.34%Hong Kong, Macao, Taiwan and overseas港澳台及海外60.58%3 The employee turnover rate represents the turnover rate of employees whovoluntarily resign, and the statistics cover the Company’s regular employees andpart-time employees and do not include outsourced employees and interns.Employee turnover rate = (number of employees resigned during the reportingperiod / average annual number of employees during the reporting period)×100%.3员工流失率情况为主动离职的员工流失比率，统计范围涵盖本公司正式员工及兼职工，不包含外包员工和实习生。员工流失率=（本报告期内离职员工人数╱本报告期内年度平均员工人数）×100%。
二零二三年年报ANNUAL REPORT 20231352023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Employees CaringIn accordance with laws and regulations such as theSocial InsuranceLaw of the People’s Republic of China(《中华人民共和国社会保险法》)and theRegulation on the Administration of Housing Provident Fund(《住房公积金管理条例》), the Company have established a sound andreasonable remuneration and welfare system, created diverse channelsfor employee communication, and committed ourselves to enhancingemployees’happiness, sense of belonging, and sense of identity. Thiseffort is to build an employer brand image that is warm, responsible andcaring.In terms of remuneration package, we have established a comprehensiveremuneration and welfare mechanism. In addition to regular salarypayments and contributions to the five insurances and housingprovident funds (五险一金), we provide employees with incentives suchas catering and transportation allowance, performance bonus, quarterlyincentive, year-end bonus, seniority bonus, year-end incentives, andlong-term incentives. During the year, for employees in MainlandChina, we optimised the year-end incentives mechanism by adoptinga model of“13th month salary + year-end bonus”, with the year-endbonus allocated within the department budget based on employeeperformance to effectively motivate employees. For employees in othercountries and regions, we fully consider local laws, regulations and socialconditions to provide competitive remuneration package to attract andretain outstanding talents.In respect of employee benefits, we provide statutory benefits to allemployees in accordance with local laws and regulations, and graduallypromote the localised adjustment of the Company’s benefit policies tobetter meet the welfare needs of employees in various regions. Statutorybenefits include social insurance, medical insurance, housing providentfunds, and various statutory holidays. The Company’s benefits includesupplementary commercial insurance for employees, seniority leave,birthday gifts, anniversary gifts, company anniversary gifts, marriagegifts, maternity benefits, Chinese New Year red packets, team-buildingactivities, club activities, and family day events. We have establishedthe Women Committee to provide reasonable treatment for femaleemployees, offering maternity allowances and full-paid maternity leavebenefits to female employees, and organizing regular activities forfemale employees to effectively safeguard their rights and interests. Asthe Company expands globally and employs local foreign workers incountries like Singapore, Thailand and Malaysia, we respect local culturesand holiday arrangements by providing funding and organising variousemployee activities.关爱员工本公司依据《中华人民共和国社会保险法》《住房公积金管理条例》等法律法规，构建良好、合理的薪酬福利体系，畅通多元化员工沟通渠道，致力于增强员工的幸福感、归属感与认同感，打造有温度、有责任的雇主品牌形象。在薪酬待遇方面，我们建立完善的薪酬福利机制，除定期发放员工工资、缴纳五险一金外，为员工提供餐饮及交通补贴、绩效分配、季度激励、年终奖金、司龄奖金、年终激励以及长期激励等薪酬奖励。本年度，针对中国内地员工，我们优化年终奖励机制，采取「13薪+年终奖」的形式，年终奖在部门预算内根据员工绩效进行分配，以更有效的方式激励员工；针对其他国家及地区的员工，我们充分考虑当地法律法规及社会实情，为员工提供具有竞争力的薪酬待遇，以吸引和留住优秀人才。在员工福利方面，我们依据各地法律法规发放员工福利，将法定福利覆盖全体员工，同时逐步推进公司福利政策的本地化调整，更好地适应各地区员工的福利需求。其中，法定福利包含社会保险、医疗保险、公积金、各类法定节假日假期等；公司福利包含员工补充商业保险、年资假、生日礼品、周年礼品、司庆礼品、结婚礼金、生育礼金、春节开工红包、团建活动、社团活动以及家庭日活动等。我们成立妇女委员会，给予女性员工合理化待遇，为生育女性员工提供生育津贴、全薪育儿假福利，定期组织女性员工活动，切实保障女性员工的权益。随着本公司全球化发展，我们在新加坡、泰国、马来西亚等国家雇佣当地外籍员工，充分尊重当地文化及节假日安排，提供经费并组织安排各类员工活动。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1362023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We continuously optimize our working hour management policies,reasonably arrange working hours for employees, and advocate efficientcompletion of work tasks, so as to safeguard employees’vacation rightsand help employees achieve a good work-life balance. In principle, wediscourage overtime work, and if overtime is necessary, employees areentitled to re-assign rest day or overtime pay.We set various communication channels for employees to receive theirreasonable requests, including“Pop Voice Recorder”platform, publicmailbox, QR code, HR help desk, etc. The“Pop Voice Recorder”platformserves as an anonymous or open channel for employees’enquiries abouttheir daily work, atmosphere, career development, employee benefitsand internal monitoring. We will consolidate and categorize feedbackfrom staff and submit to the relevant person in charge for response,and post it online on a regular basis. The Public mailbox, QR code andHR help desk support bilingual communication in Chinese and Englishto meet the needs of all employees. We respond to employee feedbacksincerely and timely based on case, and carry out regular summaries.We regularly organize various cultural and sports activities, and providewith budgetary support to help them relieve work pressure and enhancetheir well-being, so that they would feel the care and support from theCompany. This can promote communication and collaboration amongemployees, and create a positive corporate culture.我们不断优化工时管理政策，合理安排员工工作时间，鼓励高效完成工作任务，保障员工的休假权利，帮助员工实现工作与生活的良好平衡。我们原则上不提倡加班，若有确需加班的情况，将给予员工调休或结算加班工资的权利。我们开放多元化员工沟通渠道，例如「泡泡留声机」平台、公共邮箱、二维码、HR服务台等沟通方式，倾听员工合理诉求。其中，「泡泡留声机」平台支持员工匿名或公开提问，方便员工就工作日常、氛围体验、职业发展、员工福利及内部监察等相关事宜进行反馈；公共邮箱、二维码及HR服务台支持中英双语沟通，满足不同员工需求。我们认真对接员工反馈，根据情况及时予以回复，并定期展开总结。我们定期组织各类文体兴趣活动，提供活动预算支持，帮助员工释放压力，提升生活质量，使员工充分感受到公司的关怀与支持，促进员工之间的交流与合作，营造积极向上的企业氛围。
二零二三年年报ANNUAL REPORT 20231372023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Health and SafetyThe Company attaches great importance to employees’health andsafety. In strict compliance with laws and regulations such as thePrevention and Control of Occupational Diseases Law of the People’sRepublic of China(《中华人民共和国职业病防治法》), theRegulation onthe Administration of Sanitation in Public Places(《公共场所卫生管理条例》), theRegulation on Work-Related Injury Insurance(《工伤保险条例》)and theMeasures for the Supervision and Administration of Employers’Occupational Health Surveillance(《用人单位职业健康监护监督管理办法》), the Company improves the safety management system andenhance the safety awareness of employees to create a safe workingenvironment.We continue to take a series of measures to ensure that employeesmaintain good physical and mental health in work. We review therelevant safety qualifications of the property before signing a contractwith the owner for new store. We also prepare basic medications andfirst aid kits for employees, organize regular physical examination toscreen for occupational health hazards, and add commercial insurancefor employees to ensure their health and safety. During the year, weorganized employees to undergo physical examinations, enriched theircommercial medical insurance, upgraded high-end medical insuranceplans, and selected high-quality suppliers to provide services toemployees. In addition, we continuously improve commercial insuranceplans, which currently include accident insurance, serious illness medicalinsurance, hospitalization insurance, and life insurance. The Companystrictly keeps employees’personal health information confidential, andinformation such as physical examination reports and supplementarymedical reimbursement is only accessible to such employee and othersshall have no such authorization to it.健康安全本公司高度重视员工的健康与安全，严格遵守《中华人民共和国职业病防治法》《公共场所卫生管理条例》《工伤保险条例》《用人单位职业健康监护监督管理办法》等法律法规，健全安全管理体系，全面提升员工的安全意识，营造安全的工作环境。我们持续采取一系列措施来保障员工在工作中保持良好的身体和心理状态。在开立新门店时，我们会在与物业方签署合同前审核其相关安全资质认证。我们为员工提供基础药物及急救医疗包，组织员工体检以排查职业健康隐患，并为员工补充商业保险，保障员工的健康与安全。本年度，我们组织员工进行体检、补充其商业医疗保险，升级高端医疗保险方案，并甄选优质供应商为员工提供服务。此外，我们不断完善商业保险方案，目前该方案已包括意外险、大病医疗险、住院险及寿险。本公司严格保密员工的个人健康信息，体检报告、补充医疗报销等相关信息仅限员工本人获取，其他人员无权查看。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1382023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We care for the mental health of employees and provide supportsto relieve their mental stress. We developed an Employee AssistancePrograms (EAP4) with our partners to provide mental consultationservice to whole stall. The Company also set“Pop Mart Heart-to-HeartCenter”, employee mental health project, to provide employees withone-on-one psychological counseling to help them obtain convenientand professional mental health services, so as to further troubleshootoccupational health and safety hazard and help employees to identifypotential occupational diseases, occupational contraindications andother abnormal symptoms as soon as possible. We strengthened thepromotion of health knowledge by offering mental health tips to andorganizing activities for all employees, such as monthly“Mental Massage”tips, with the aim of affecting employees’health in a positive way.We regularly conduct training on safety and health. For new employees,we emphasize safety issues and precautions in the induction training.For employees responsible for production and quality inspection, weprovide specialized training on safety and health. In order to effectivelyprevent safety accidents, we regularly hold emergency evacuation drillsand fire drills, and encourage employees to learn emergency responseknowledge to enhance their relevant capabilities.In 2023, the data related to employees’occupational and health safety isas follows:4 EAP: Employee Assistance Programs.5 The statistics of occupational health and safety cover the Company’s regularemployees and part-time employees and do not include outsourced employeesand interns.我们关注员工的心理健康，协助疏解员工心理压力，并携手合作伙伴开展员工帮助计划（EAP4），为全体员工提供心理咨询服务。本公司内部设立「泡泡心驿」员工心理健康项目，员工可获取一对一心理咨询辅导，得到专业、高效的心理健康支持，进一步排查职业健康安全隐患，帮助员工尽早发现职业病、职业禁忌等异常情况。我们加强健康知识宣贯，为全体员工推送心理健康小知识及活动，例如月度「心灵马杀鸡」小知识，致力于为员工的健康带来积极影响。我们定期开展安全与健康方面的培训，针对新员工，在入职培训中强调安全事宜与注意事项；针对负责生产、质检的员工，开展专门的安全与健康相关培训。为有效预防安全事故发生，我们定期举办应急疏散演练和消防演习，鼓励员工学习应急救援知识，提升自身应急预警能力。2023年，员工职业与健康安全相关数据如下：Occupational Health and Safety5职业健康与安全5IndicatorsData for 2021Data for 2022Data for 2023指标2021年数据2022年数据2023年数据Total work-related fatalities (persons)因工亡故总人数（人）000Rate of work-related fatalities (%)因工亡故比率(%)000Number of work-related injuries (persons)因工受伤人数（人）416Number of lost days due to work injury (days)因工伤损失工作日数（天）10822884 EAP：Employee Assistance Programs，员工帮助计划。5职业健康与安全数据统计范围涵盖本公司正式员工及兼职工，不包含外包员工和实习生。
二零二三年年报ANNUAL REPORT 20231392023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Development and TrainingThe Company attaches importance to the career development ofemployees, therefore, it continuously optimizes the employee trainingand development system by setting clear promotion path and diversedevelopment channels, and providing diversified training courses toassist employees in personal growth, thus to create an talent pool forthe Company to ensure the sustainable development of the enterprise.We designed scientific and reasonable promotion routes for employeesaccording to specific business characteristics and departmental needs.During the year, we launched a talent inventory appraisal method thatapplies to all employees, in which dual supervisors and direct superiorsconduct a comprehensive evaluation of employees’performance, ability,attitude and other multidimensions to identify outstanding talentsthrough a more flexible and convenient way, and set no boundaryfor the promotion time. We established theTalent RecommendationPracticemechanism to promote internal recommendations amongemployees to encourage them to participate into such practice, whichmay enhance the attraction and cohesion of the Company for talents. Inthe event of employee underperformance caused by any organizationaladjustments or otherwise, we will provide training and guidance tosuch employees in the first place. If such underperformance didn’t getimproved, we will help them identify a more suitable position within theCompany so that they may perform their duties better.We provide employees with rich opportunities for growth bycontinuously improving the development and training system thereforeto support and encourage them to achieve their personal value. TheCompany has established theHuman Resources Management System,clarifying the principles of employee training and personal capabilitiesand launching personalized training programs for different positions andlevels, to strengthen the talent pool construction. We provide a certainallowance for employees who obtain internal qualifications certificationand have specific policies for employees who obtain externalqualifications, We encourage them to obtain certifications such asProject Management Professional (PMP) or those from business schoolsand offer subsidy for their expenses after they obtain their certificationor complete studies. We have optimized the online learning platform“POP CLASS”by adding tests and certificates for training tailored todifferent business and needs, segmenting induction trainings for newemployees and revising such training videos to enhance the trainingefficiency and improve employee experience.发展培训本公司关注员工的职业发展，不断优化员工培训发展体系，设置清晰的晋升路径和多样化发展渠道，通过多元化培训课程，助力员工个人成长，为公司打造充裕的人才储备池，保障企业的可持续发展。我们根据具体业务特点及部门需求，为员工规划科学合理的晋升路线。本年度，我们持续推行适用于全体员工的人才盘点考核制度，由双主管或直接上级对员工的业绩、能力、态度等方面进行多维度综合评价，并且不对员工晋升时间点设限，以更灵活便捷的方式甄别优秀人才。我们建立《人才推荐实践》机制，向员工宣贯人才内部推荐奖励准则，激励员工参与人才推荐，增强公司人才的吸引力和凝聚力。若存在因公司组织调整或员工掉队的情况，我们优先为员工提供培训辅导，当情况仍不理想时，我们将积极协助其在公司内部寻找更适配的岗位，帮助员工改善工作情况。我们为员工提供丰富的成长机会，持续完善员工发展与培训体系，支持鼓励员工实现个人价值。本公司已制定《人力资源管理制度》，明确员工培训和员工个人能力的原则，针对不同岗位和层级推出个性化培训项目，加强人才梯队建设。我们对员工考取内部资质认证发放一定津贴，对员工考取外部资质制定专门的政策，鼓励员工考取项目管理专业人士资格认证(PMP)、商学院等资质，并在员工完成认证或学业后提供费用减免。我们优化线上学习平台「POPCLASS」，新增针对不同业务、不同需求培训后的测试和奖状，细分新员工培训并修订相关培训视频，提升培训效率，增强员工体验。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1402023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We highly value talent development and the building of corporateculture. In 2023, we established the POP MART UNIVERSITY to carryout multilevel and diversified training programs and provide standardtraining course systems. While cultivating employees’personal ability,we help them to develop values shared with the Company and enhancetheir senses of identity and belonging. During the year, POP MARTUNIVERSITY carried out a variety of activities offline, such as the studytour in the Central Academy of Fine Arts, the managers’study visit toJingdezhen, and Professor Dai Jinhua’s introduction of Little Women, topromote the sharing of advantageous resources.In 2023, the total number of training hours participated by employeesof the Company reached approximately 41,995.25 hours, of which,employees of office function line: 23,355 hours, employees of stores:14,990.25 hours and employees of roboshops: 3,650 hours. The trainingperformance of employee is set out below:Training Performance of Employees of Office Function Line办公职能线员工受训情况IndicatorPercentage ofemployeestrained (%)Average traininghours (hours)指标受训百分比（%）受训平均时数（小时）By genderMale86.00%12.01按性别男Female88.00%12.12女By categoryManagement100.00%64.00按类别管理层Non-management87.00%11.80非管理层我们深度重视人才培养和企业文化建设，于2023年成立泡泡玛特大学(POP MARTUNIVERSITY)，开展多层次、多样化的培训项目，提供标准化的课程体系，在培养员工个人能力的同时，帮助员工建立与公司一致的价值观，增强员工认同感和归属感。本年度，泡泡玛特大学在线下开展了中央美术学院游学、管理者景德镇参访学习、戴锦华教授导赏小妇人等丰富多彩的活动，推动优势资源共享。2023年，本公司员工参与培训总时长约41,995.25小时，其中，办公职能线员工参与培训总时长为23,355小时，门店员工参与培训总时长为14,990.25小时，机器人商店员工参与培训总时长为3,650小时。员工受训情况如下：
二零二三年年报ANNUAL REPORT 20231412023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Training Performance of Employees of Retail Operating Line零售运营线员工受训情况IndicatorPercentage ofemployeestrained (%)Average traininghours (hours)指标受训百分比（%）受训平均时数（小时）By genderMaleStores按性别男门店98.62%6.12Roboshops机器人商店96.61%14.71FemaleStores女门店97.22%6.03Roboshops机器人商店100.00%44.00By categoryManagementStores按类别管理层门店69.39%4.31Roboshops机器人商店100.00%44.00Non-managementStores非管理层门店97.94%6.08Roboshops机器人商店96.55%14.21
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1422023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告VI. SUPPLY CHAIN MANAGEMENTThe Company has increased its efforts in building a responsiblesupply chain, implemented full-process management from supplieraccess to dismissal and enhanced suppliers’awareness of sustainabledevelopment. Based on the stable and mutually beneficial relationships,we aim to jointly promote green development. We have formulatedtheSupplier Management System, theDocumentation on StandardizedOperation for Procurement Department, theNon-product ProcurementManagement System, theNon-product Supplier Management Systemand other management systems to further guarantee the sustainabledevelopment of supply chain.The Company strictly implements the full-process management, whichcovers supplier access, evaluation and dismissal, to ensure the reliabilityand stability of the supply chain. We have set up a well-experiencedsupplier management team, as well as a supplier inspection team thatis comprised of relevant responsible personnel from procurementdepartment, engineering department, quality assurance department,quality management department and production managementdepartment to regularly evaluate and review the legal compliance ofsuppliers and ensure that the suppliers comply with relevant regulationsand standards in terms of quality and safety, and thus promoting thehealthy development of the Company’s supply chain.Supplier AccessThe Company’s process of supplier access includes five stages, i.e.,sourcing, qualification review, onsite review and approval, jointinspection and admission. While selecting suppliers, we set up anindependent sourcing team to carry out due diligence on suppliersand consider suppliers’ability to fulfill their environmental and socialresponsibilities focusing on energy consumption, carbon emissions,waste management, environmental pollution prevention, labor rightsand interests, occupational health and safety, community engagementand other aspects. In addition, we evaluate and score based on theSupplier Cooperation Application Form, and prefer suppliers with higherscores, comprehensive capabilities and third-party certifications andqualifications.六、供应链管理本公司深化构建责任供应链，实施对供应商从准入到退出的全流程管理，提升供应商的可持续发展意识，基于稳定互惠的友好关系，共同推动绿色发展。我们制定《供应商管理制度》《采购部标准作业程序文件》《非产品类采购管理制度》《非产品类供应商管理制度》等管理制度，进一步保障供应链的可持续发展。本公司严格执行覆盖供应商准入、评估及退出的全流程管理，确保供应链的可靠性和稳定性。我们已成立具备丰富行业经验的供应商管理团队以及由采购部、工程部、品质部、质量管理部及生产管理部负责人组成的供应商验厂团队，定期考察审核供应商的合规性，确保供应商在质量和安全方面遵守相关法规和标准，推动本公司供应链健康发展。供应商准入本公司供应商准入流程包含采购寻源、资质审核、现场审核审批、联合验厂及准入共五个阶段。在选取供应商时，我们成立独立寻源组对供应商开展尽职调查，重点从能源消耗、碳排放、废弃物处理、环境污染防治、劳工权益、职业健康与安全、社区参与等多个方面，考量其履行环境责任和社会责任的能力，并利用《供应商合作申请表》进行评估打分，优选评分高、具备全面综合实力且获得第三方认证资质的供应商。
二零二三年年报ANNUAL REPORT 20231432023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Through onsite review, joint inspection and other processes, wecomprehensively consider suppliers’performance on operatingvenues, productivity, technology capability, research and developmentcapability, quality control and hardware facilities, and conduct admissionassessment on suppliers from environmental protection, resourceconservation, safety management, corporate sustainable developmentand other dimensions. We require suppliers to comply with laws andregulations, such as theAtmospheric Pollution Prevention and ControlLaw of the People’s Republic of China(《中华人民共和国大气污染防治法》), theSolid Waste Pollution Prevention and Control Law of thePeople’s Republic of China(《中华人民共和国固体废物污染环境防治法》) and theWater Pollution Prevention and Control Law of thePeople’s Republic of China(《中华人民共和国水污染环境防治法》), andto provide environmental impact reports, pollution discharge permitsand other relevant documents, and strictly implement access standards.In addition, the certification and audit from third-party institutions willalso be taken into consideration, such as the International Council ofToy Industries (ICTI) Code of Business Practices, the Disney InternationalLabor Standards (Disney ILS), the Sedex Member Ethical Trade Audit(SMETA) and the Business Social Compliance Initiative (BSCI). Currently,a total of 7 suppliers cooperated with the Company have obtained thecertification of ICTI and 25 have obtained the certification of Disney.We also pay attention to the code of conduct of cooperative suppliersand specify the requirements on the protection of labor rights andinterests in theCooperation Framework Agreement of Production andProcessingsigned on an annual basis, including but not limited toprohibiting child labor and gender discrimination, protecting the rightsand interests of female employees, allowing sick leave, and providingemployees with necessary labor protection equipment. Supplierswith significant environmental and social risks will not be taken intoconsideration.In 2023, a total of 379 suppliers of the Company had completed theadmission review.我们通过现场审核及联合验厂等流程，综合考虑供应商的生产场所、生产能力、技术实力、研发能力、品质控制以及硬件设施的表现，从环境保护、资源节约、安全管理以及企业可持续发展等多个维度对供应商进行准入考核。我们要求供应商遵守《中华人民共和国大气污染防治法》《中华人民共和国固体废物污染环境防治法》《中华人民共和国水污染环境防治法》等法律法规，并提供环境影响报告书、排污许可证等相关文件，严格落实准入标准。此外，第三方机构的认证与审核也是我们考量的指标，例如国际玩具业协会(ICTI)商业行为守则认证、迪士尼社会责任验厂(DisneyILS)、Sedex会员道德贸易审核(SMETA)、商界社会责任倡议(BSCI)审核等。目前，本公司合作供应商中共有7家获得国际玩具业协会认证，25家获得迪士尼资质认证。我们同样关注合作供应商的行为准则，在每年签署的《生产加工合作框架协议》中明确约定供应商在劳工权益保护方面的要求，包括但不限于禁用童工、禁止性别歧视、保障女性员工权益、允许请休病假、为员工提供必要的劳保防护用品等，对于在环境及社会方面存在重大风险的供应商，我们将不纳入准入考虑范围。2023年，本公司已完成准入审核的供应商共379个。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1442023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Daily Management of SuppliersWe attach importance to the daily management of suppliers, andconstantly monitor and supervise the performance of all cooperativesuppliers according to the supplier management list, so as to ensurethe compliance in terms of quality and safety. We have set up a specialproject management group to check the validity period of relevantqualifications and certificates of suppliers and maintain supplier datato further optimise supplier management. Through the third-partyverification report, unannounced inspection conducted by the qualitymanagement department and onsite supervision by the personnel ofquality assurance department and production department, we identifythe environmental and social risks faced by suppliers and strictlyinvestigate violations.We have set up a reasonable and effective evaluation process andregularly conduct performance appraisal and ranking management onexisting suppliers through monthly, semi-annual and annual evaluation.In the evaluation process, there are several refined assessment parts.Besides, the corresponding weight is assigned to each project, andthe supplier is finally ranked based on the total weighted score. Inaddition, we have strengthened the informatization and digitalizationconstruction of suppliers in ESG risk management and supply chain,conducted online management on the life cycle of suppliers leveragingthe Supplier Relationship Management (SRM), and implementeddifferent reward and punishment measures for suppliers at differentranks. We also provide regular training to suppliers on sustainabilityand social responsibility to ensure that suppliers are aware of ourpolicies and systems. For suppliers who have excellent performance onenvironmental protection or caring of employees, the Company will giveextra rewards. For suppliers with risks or problems, the Company willissue a rectification notice and require them to rectify for sub-standardindicators within three months. For suppliers failing the rectificationinspection or in serious violation of laws and regulations, the Companywill terminate their partnership forthwith and eliminate them.供应商日常管理我们重视对供应商的日常管理，按照供应商管理名单，对所有合作供应商实施持续性的关注和监督，以确保其质量和安全合规。我们已设置专门的项目管理组，负责核查供应商相关资质及证书的有效期，维护供应商数据，持续优化供应商管理。我们通过第三方核查报告、质量管理部开展飞行检查及品质部、生产部人员驻厂监督三种方式，识别供应商面临的环境和社会风险，严查违规行为。我们设置合理有效的评估流程，通过月度、半年度及年度评估，对在库供应商进行定期绩效考核与分级管理。在评估过程中，设置多个精细化考核板块，并为每个项目分配相应权重，最终依据加权总分为供应商定级。我们加强ESG风险管理及供应链信息化、数字化建设，利用供应商关系管理系统(SRM)对供应商进行全周期线上管理，依据供应商级别实施不同的奖惩措施，定期为供应商提供可持续发展和社会责任等方面的培训，确保供应商悉知我们的政策制度。对于在环境保护、员工关怀等方面表现突出的供应商，给予额外奖励；对于存在风险或问题的供应商，出具整改通知，要求其在三个月内完成不合格指标的整改；对于整改检验不通过或存在严重违法违规行为的供应商，立即终止合作关系并予以淘汰。
二零二三年年报ANNUAL REPORT 20231452023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告建设绿色供应链本公司致力于构建绿色供应链，注重供应商的可持续发展表现，要求供应商在生产活动中遵循最小化环境损害的原则，并优先考虑采购在产品生命全周期中严格遵守环保标准、对生态环境影响较小或无害、资源高效利用且能源消耗品低的产品。为进一步推动环保进程，我们建立原材料白名单机制，将环保体系健全的供应商纳入白名单进行统一管理。我们成立新工艺部门，携手供应商合作开发环保材料，推荐供应商选择白名单机制内的供应商进行采购，促进供应商绿色发展。目前，我们已实现在相关产品上使用水性漆、环保大豆油墨、特种纸、纸纤维材料、可回收降解内胆、可生物降解铝塑袋等创新环保材料。本年度，我们开展回收材料项目，对积压残品进行环保回收再利用，选用860公斤东莞备品仓库报废级残娃产品，经过分拣、归类、破碎、过磁、水洗、造粒等步骤，产出约400公斤胶粒，回料率约50%，强度、密度、初步环保测试均符合要求。我们将回料送检，化学测试结果合格，符合欧盟环保标准。此项目不仅缓解仓库库存压力，节省库存成本，亦为我们带来与直接将残品报废处理相比更高的环保和经济效益。根据估算，库存残品经回收处理产出约35吨回料，价值约人民币437,500元。我们进行工厂试料，在试模中测试回料在使用过程中性能的稳定性、无污染性，确保生产安全。最终，我们与多部门配合协作完成回收材料创新应用，将破损率降低至50%，并达成「20%再生材料+80%原生材料」组合，将其全部投入到「DIMOO×蒙新河貍」联名吊卡的生产中。Creating Green Supply ChainThe Company is committed to creating a green supply chain, focusingon the sustainable development performance of suppliers, requiringthem to follow the principle of minimizing environmental damage intheir production activities, and giving priority to the procurement ofproducts that strictly comply with environmental protection standardsthroughout the entire life cycle of the product, have little or no harmfulimpact on the ecosystem, and utilize resources efficiently and with lowenergy consumption. To further promote environmental protection,we have established a white-list mechanism for raw materials, wherebysuppliers with sound environmental protection systems are included inthe white-list for unified management. We have set up a new processdepartment to develop environment-friendly materials in cooperationwith suppliers, and recommend suppliers to choose suppliers on thewhite list mechanism for procurement, so as to promote the greendevelopment of suppliers. Currently, we have realized the use ofwater-based paints, eco-friendly soy ink, special paper, paper fibermaterials, recyclable and degradable inner liners, biodegradablealuminum bags, and other innovative and green materials in our relatedproducts.During the year, we launched a recycled materials project to recycleand reuse backlogged residual products in an eco-friendly manner.We selected 860 kg of scrapped residual products from Dongguanspare parts warehouse, and after sorting, categorizing, crushing,demagnetization, washing and granulation, we produced about 400 kgof plastic pellets, with a return rate of about 50%, with strength, density,and preliminary environmental tests meeting the requirements. Wesent the recycled material for inspection and the chemical test resultswere satisfactory and in line with the European Union environmentalstandards. This project not only relieves the pressure on warehouseinventory and saves inventory costs, but also brings us higherenvironmental and economic benefits compared with direct disposalof the residual products. According to the estimation, the recycling ofthe stockpile residuals produced approximately 35 tonnes of recycledmaterials with a value of approximately RMB437,500. We conductedfactory trials to test the stability and non-pollution properties of therecycled materials during the use of the recycled materials in the trialmolds to ensure the safety of production. In the end, we cooperatedwith many departments to complete the innovative application ofrecycled materials, reduced the breakage rate to 50%, and achievedthe combination of“20% recycled materials + 80% virgin materials”,which were all put into the production of“DIMOO x Castor Fiber Birulaii”co-branded hang cards.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1462023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告As of 31 December 2023, the number and distribution of the Company’ssuppliers are as follows:截至2023年12月31日，本公司拥有的供应商数量及分布地区如下：Number and Distribution of Suppliers供应商数量及分布情况IndicatorsAs of 31 December 2023指标截至2023年12月31日By geographical region (number)Mainland China按地区（个）中国内地373Hong Kong, Macau, Taiwan and overseas港澳台及海外6Total (number)总计（个）379七、产品责任管理本公司贯彻落实责任文化，高度重视客户需求及体验，致力于在每个业务环节展现我们的责任心。我们遵守《中华人民共和国产品质量法》《中华人民共和国消费者权益保护法》等相关法律法规，注重产品创新，严格把控产品质量，不断提升售后服务水平，力求通过更专业、更及时的服务为客户带来优质便捷的消费体验。我们坚决维护客户权益，构建全面的信息安全管理体系，加强知识产权与商标管理，坚持负责任的广告宣传，全力打造值得信赖的品牌形象。VII.PRODUCT RESPONSIBILITY MANAGEMENTThe Company adheres to the culture of responsibility, attaches greatimportance to customer needs and experience, and is committed todemonstrating our sense of responsibility in every business process.We comply with theProduct Quality Law of the People’s Republicof China(《中华人民共和国产品质量法》), theLaw of the People’sRepublic of China on the Protection of Consumers Rights and Interests(《中华人民共和国消费者权益保护法》), and other relevant laws andregulations, emphasize product innovation, strictly control productquality, and continuously improve after-sales service, and strive to bringcustomers a quality and convenient consumer experience through moreprofessional and timely service. We are determined to protect the rightsand interests of our customers, build a comprehensive informationsecurity management system, strengthen intellectual property rightsand trademark management, and insist on responsible advertising andpromotion to build a trustworthy brand image.
二零二三年年报ANNUAL REPORT 20231472023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Product Quality Control and RecallWith the core objective of improving product quality control capability,the Company strictly complies with the national standards of toysrelated to our business, such asT/CPQS C010-2022 Fashion figures andsimilar products for appreciation and collection, T/CPQS C011-2023Fashion figures and similar products for appreciation and collection–Limitation and test methods of volatile organic compounds (VOC), GB6675-2014 Toys Safety, and other national standards, so as to strengthenthe technical standardization of model products to control the productquality.We have formulated management systems and inspection standards,such as theProduct Quality Testing Inspection Specification, theQualityStandard Manual for Action Figures, theQuality Inspection Workflow andtheProduct Special Procurement Process, which ensure the effectivesupervision and management of all aspects of the production process.In the product design stage, we emphasize on the structural safety ofthe products and ensure the high standard of product research anddevelopment through the product structural safety assessment anddevelopment of test certificates. In the product production stage, westrictly control the quality of the whole process of sourcing, injectionmolding, oil spraying, assembling and packaging, standardize theproduct packaging labeling, and ensure that the product productionand the production process meet the national environmental protectionstandards regarding the“three wastes”emission. In the product salesstage, we set up defective appearance evaluation standards for actionfigure products, and optimize and improve the process of commondefects feedback from the after-sales department to improve the overallquality of products and customer satisfaction.产品质量管控及召回本公司以提升产品质量管控能力为核心目标，严格遵守《T/CPQS C010-2022鉴赏收藏用潮流玩偶及类似用途产品》《T/CPQSC011-2023鉴赏收藏用潮流玩偶及类似用途产品挥发性有机物(VOC)安全限量及测试方法》《GB 6675-2014玩具安全》等与业务有关的玩具国家标准，加强模型产品技术规范化，把控产品质量。我们制定《产品质量检测检验规范》《手办产品质量标准手册》《质检工作流程》《产品特采流程》等管理制度与检验标准，确保生产流程各环节的有效监督和管理。在产品设计阶段，我们重视产品的结构安全，通过产品结构安全评估和开发测试验证，确保产品研发的高标准。在产品生产阶段，我们严格把控来料、注塑、喷油、装配包等全过程的质量，规范产品包装标识，确保产品生产及生产工艺达到国家关于「三废」排放的环保标准。在产品销售阶段，我们对手办类产品制定瑕疵外观评判标准，对售后部门反馈的常见瑕疵的工艺环节进行及时优化和改进，提升产品整体质量和客户满意度。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1482023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告In 2023, we amended theGeneral Product Inspection Standardsinto theProduct Quality Testing Inspection Specificationto clarify the productquality testing and inspection specifications for trendy collection actionfigures, POP LAND, GONG, and derivatives products, to ensure thatour products comply with national and industry-recognized standardsand meet the requirements of global laws and regulations. In terms ofproduct quality inspection, we have improved the requirements on thelimits of migratory elements, plasticizers and packaging waste heavymetals in products and accessory materials. During the reporting period,we conducted 3,739 internal product tests and risk assessments, andexternal tests were conducted by the State Market Supervision Samplingand Inspection (SMSSI) covering 4 municipalities and 13 provinces,with a cumulative total of 73 products sampled and inspected, and thepassing rate of the supervision and sampling inspection reached 100%.For product recall, we have formulated theProduct Recall Procedureand other systems and processes to clearly regulate the operationof product recalls. We will recall all products with safety hazards orunqualified products for rework. Any products that cannot be reworkedwill be scrapped to prevent their release to the market. In addition, weoptimise and enhance our product packaging labels to ensure they areclear, accurate, and meet the required standards. The new packaging ofour products is printed with warnings and reminders including productinformation, instructions, safety use and maintenance matters, such as”Not for children under 3 years old”,“EU’s CE certification for productsafety”,“UKCA marking and environmental logo”,“Derivative or blindbox (non-toy) button batteries & coin batteries”,“France’s Triman logofor environmental packaging design”,“FSC logo for product packagingand cardboard boxes”,“EU’s directive to promote recovery of wasteelectrical and electronic equipment (WEEE)”and other logos and relateddimensional requirements, to warn customers to correctly use, handle ordispose of our products.2023年，我们将《产品检验通用标准》修订为《产品质量检测检验规范》，明确潮流收藏手办、乐园、共鸣、衍生品产品质量检测检验规范，确保产品符合国家和行业认定标准并且达到全球法律法规要求。在产品质量检测方面，我们完善产品及配件材料中可迁移元素、增塑剂、包装废弃物重金属等限量要求。本报告期内，我们开展内部产品检测与风险评估3,739项，外部检测经国家市场监督抽查检验覆盖4个直辖市、13个省，累计抽检73款产品，监督抽查合格率达100%。针对产品召回，本公司已制定《产品召回程序》等相关制度和流程，明确规范产品召回的操作。对于存在安全隐患或不合格产品，我们将返工处理；对于无法返工的产品，统一进行报废，杜绝其流向市场的可能性。此外，我们优化和完善产品包装标识，确保其清晰、准确并符合标准，我们最新的产品包装上印有产品信息、说明、安全使用和保养事项等警告和提示文字，如「产品不适合3岁以下儿童使用标识」「欧盟产品安全认证CE、英国UKCA标志及环保标识」「衍生品或盲盒（非玩具）纽扣电池&硬币电池」「法国包装环保设计Triman标识」「产品包装和纸箱FSC标识」「欧盟WEEE报废的电子电气设备指令」等标识及相关尺寸要求，警示客户正确使用、处置或处理我们的产品。
二零二三年年报ANNUAL REPORT 20231492023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告In order to enhance the staff’s awareness of production quality andproduction skills and reduce the incidence of quality problems andsafety accidents, we conducted production quality training, producthealth and safety training, global safety requirements training,unannounced factory inspections and quality and safety meetings 40,11, 12, and 39 in 2023, respectively. These initiatives aimed to enhancestaff understanding and recognition of the Company’s quality cultureand provide a solid guarantee for the steady improvement of productionquality.In 2023, the Company did not recall any products due to product safetyand health issues or product quality problems.Customer Complaint and Benefits ProtectionThe Company focuses on building a service quality management systemcentered on customer satisfaction. This involves ongoing improvementsto the service mechanism, increased efficiency in handling customercomplaints, protection of consumer legitimate interests, and the creationof a positive service experience for customers. We comply with the lawsand regulations such as theLaw of the People’s Republic of China onthe Protection of Consumer Rights and Interests(《中华人民共和国消费者权益保护法》), theMeasures for the Punishment of Acts againstthe Interest of Consumers(《侵害消费者权益行为处罚办法》), and theInterim Measures for Handling Complaints and Reports concerningMarket Regulation(《市场监督管理投诉举办处理暂行办法》) andhave formulated different rules and regulations such as theStandardOperating Procedure for Stores, thePre-upgrade Processing Mechanism,theCustomer Service Handling Regulations for Omnichannel After-salesIssuesandAfter-Sales Service Policy. In 2023, we revised thePre-upgradeProcessing Mechanismand theAfter-sales Service Policyto update ourafter-sales policy on for the return without reasons of blind boxes withinseven days, to improve the efficiency of customer service handlingand the level of risk control of incidents, and to further enhance thecustomer experience.为提升员工产品质量意识和生产技能水平，降低质量问题和安全事故的发生率，2023年，我们向员工开展产品质量培训40次，产品健康安全培训11次，产品全球安规要求培训12次，工厂飞行稽查及质量安全会议39次，深化员工对质量文化的理解与认同，更为本公司产品质量的稳步提升提供坚实保障。2023年，本公司未发生与产品安全健康问题或质量相关的召回事件。客户投诉及权益保障本公司着力构建以客户满意度为核心的服务质量管理体系，不断完善服务机制，提升客户投诉处理效率，确保消费者合法权益，打造令客户满意的服务体验。我们遵守《中华人民共和国消费者权益保护法》《侵害消费者权益行为处罚办法》《市场监督管理投诉举报处理暂行办法》等法律法规，制定了《店舖标准操作流程》《预升级处理机制》《全渠道售后问题客服处理规范》《售后服务政策》等制度规定。2023年，我们修订《预升级处理机制》及《售后服务政策》，更新盲盒7天无理由退货的售后政策，提高客服处理效率和事件风险把控水平，进一步提升客户体验。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1502023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We continue to improve our customer service mechanism and build anall-media service platform, whereby collecting customers’demands andfeedback via different convenient communication channels such as the400 hotlines, WeChat Mini Program, Tmall online and in-store customerservice. During the year, we introduced new customer service options forour international customers. Overseas customers can receive real-timeassistance through POP MART’s overseas website, shops and robot scansby contacting our online customer service staff. In addition, customerscan contact customer service staff by email and receive a reply within24 hours. Once a complaint is received, overseas customer service staffpromptly liaise with overseas operations and logistics departmentsto deal with related issues. For the operation of POP LAND, we haveset up a POP LAND customer service team based on the customerservice system of our Company’s central office to achieve efficientpoint-to-point handling of customer complaints. We have establishedeffective communication with market regulators and local authoritiesto ensure prompt and appropriate handling of customer complaintswithin the stipulated timeframe. Follow-up actions are taken to ensurethorough resolution of the complaints. In response to market regulatorycomplaints, we liaise actively with the relevant departments and providetimely feedback to the Market Surveillance Authority on the handling ofcomplaints and the results thereof, as well as optimising and improvingrelevant products and services to enhance customer satisfaction.我们持续优化客户投诉处理流程，加强全媒体服务平台建设，设置400官方热线、微信小程序、天猫在线、门店客户服务等多种便捷沟通渠道，全方位收集客户诉求与反馈意见。本年度，我们新增海外客服，海外客户可通过泡泡玛特海外官网、门店及机器人扫描联系在线客服获得实时帮助，或通过邮件方式联系客服在24小时内得到回复，接受投诉后海外客服及时联动海外运营和物流等部门处理相关问题。针对泡泡玛特城市乐园运营，我们依托本公司中台的客服系统，设立乐园客服小组，实现对客户投诉点对点的高效处理。同时，我们协同市场监管及属地行政主管部门，建立起良好沟通机制，确保在规定时间内对客户投诉及时回应并妥善处理，事后持续追踪，保证该投诉得到彻底解决。针对市场监管投诉，我们积极配合有关部门，及时向市场监督管理局反馈投诉处理的情况和结果，并对相关产品及服务予以优化改善，努力提高客户满意度。Key Performance Indicators for Product Responsibility产品责任关键绩效指标IndicatorsData for 2023指标2023年数据Total market regulatory complaints on products or services received (times)接获关于产品或服务的市场监管投诉总数（次）11,591Clearance rate of market regulatory complaints (%)市场监管投诉结案率(%)100Percentage of total products sold or shipped that are subject to recall for safety and health reasons (%)已售或已运送产品总数中因安全与健康理由而须回收的百分比(%)0
二零二三年年报ANNUAL REPORT 20231512023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Customer Privacy and Information SecurityThe Company acknowledges the significance of safeguarding customerprivacy and information security and implements comprehensivemeasures to fully protect the legitimate rights and interests ofcustomers. In strict compliance with laws and regulations anddepartmental regulations such as theNetwork Security Law of thePeople’s Republic of China(《中华人民共和国网络安全法》), thePersonal Information Protection Law of the People’s Republic ofChina(《中华人民共和国个人信息保护法》) and theMeasures forDetermining the Illegal Collection and Use of Personal Information byApps(《App违法违规收集使用个人信息行为认定方法》), the Companyhad formulated theInformation Security Management System, theInformation Disclosure Management System, theInformation SecurityTraining Manual,theData Security Management System, theUser PrivacyAgreement of Pop Mart, theMember Service Agreement of Pop Martand theMinor Privacy Agreement of Pop Martand other documents tostandardize the requirements related to improve information securitymanagement system.We are constantly enhancing our information security measures tomitigate the risk of data breaches. These measures include the use ofencryption technology, anti-identification technology, intranet controls,anti-virus software and firewalls. We conduct compliance reviews andinformation security tests regularly. For information security, we performexternal and internal audits at least once a year and promptly rectify anynon-conformities identified during such reviews.In terms of information and data collection, we undertake in theUserPrivacy Agreement of Pop Martto adhere to the principle of minimumcollection to standardize the collection requirements of users’personalinformation, and will never provide any personal information to athird party without the consent of users, or improperly dispose of it byselling, renting out and sharing. We fully respect users’right to chooseby authorizing them to cancel accounts and delete their personalinformation at any time, and disclosing the privacy policy in our WeChatMini Program. The relevant policy requirements are applicable to allbusinesses within the Company, with an aim to provide the maximumdegree of protection for information security of users.客户隐私及信息安全本公司深知客户隐私与信息安全的重要性，采取全面措施确保客户合法权益得到充分保障。我们严格遵守《中华人民共和国网络安全法》《中华人民共和国个人信息保护法》《App违法违规收集使用个人信息行为认定方法》等法律法规及部门规章，制定《信息安全管理制度》《信息披露管理制度》《信息安全培训手册》《数据安全管理制度》《泡泡玛特用户隐私协议》《泡泡玛特会员服务协议》《泡泡玛特未成年人隐私协议》等一系列制度文件，完善信息安全管理体系。我们通过加密技术、反识别技术、内网控制、安装防病毒软件及防火墙等多重科技手段，持续提升信息安全防护水平，降低信息泄露风险。同时，定期进行合规性审核及信息安全测试，针对信息安全每年至少进行一次外部和一次内部审计，对外审、内审过程中发现的不符合项及时整改。在信息数据收集方面，我们在《泡泡玛特用户隐私协议》中承诺遵循最小化收集原则，规范用户个人信息收集要求，未经用户本人同意，绝不会将任何个人信息提供给第三方，或以出售、出租、分享等方式进行不当处置。我们充分尊重用户的选择权，授权用户随时注销账户和删除其个人信息，并于微信小程序中公示隐私政策，相关政策要求适用于本公司所有业务，为用户信息安全提供最大程度的保障。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1522023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告在信息数据处理方面，我们在《数据安全管理制度》中对公司数据与用户个人数据的收集、传输、储存、使用、共享、删除、转让和披露等方面做出明确规定。我们秉持「非必要不储存」的原则处理隐私信息，物流运输过程中不展示客户隐私信息。我们要求接触客户交易信息的核心服务商签署保密协议，对相关工作人员行为进行严密监督，确保其严格遵守数据安全和隐私保护的制度要求，并对客户数据看板设置权限分层管理机制和审批流程，数据查看、数据导出等操作均需相关负责人按照「必要性」原则审批，数据权限管理人会在员工离职前对其权限进行收回，减少客户数据泄露的风险。此外，我们已建立针对信息或数据泄密的应急响应方案，通过结合网站应用级入侵防御系统(WAF)、加密网关等技术强化安全防护，与第三方合作监控潜在泄露风险，并每年至少开展两次应急演练，确保信息安全系统的有效性。知识产权与品牌保护本公司严格遵守《中华人民共和国专利法》《中华人民共和国著作权法》《中华人民共和国商标法》《产品防伪监督管理办法》等法律法规，制定《知识产权及软件管理办法》等管理制度和机制。我们全面规范知识产权保护工作，不断优化商标、著作权及专利的申请流程，开展品牌保护工作，持续完善知识产权保护体系。In terms of information and data processing, we clearly define thecollection, transmission, storage, use, sharing, deletion, transferringand disclosure of corporate data and users’personal data in theDataSecurity Management System. We adhere to the principle of“prohibitingkeeping unless necessary”in relation to users’private information, anddo not display such information during transportation. Meanwhile,we require core service providers with access to customer transactioninformation to sign confidentiality agreements to strictly supervise thebehavior of relevant staff, so as to ensure that they strictly comply withthe requirements of the data security and privacy protection system.In addition, we have set up a hierarchical authority managementmechanism and approval process for customer data billboards, and dataviewing, data export and other operations need to be approved by therelevant person in charge in accordance with the principle of“necessity”.The data permission manager will take back the authority of anyemployee before he or she leaves, so as to reduce the risk of customerdata leakage.In addition, we have established an emergency response plan forinformation or data leaks, strengthened security protection bycombining technologies such as the Web Application Firewall (WAF) andencrypted gateway, cooperated with third parties to monitor potentialleakage risks, and conducted emergency drills at least twice a year toensure the effectiveness of the information security system.Intellectual Property and Brand ProtectionIn strict compliance with laws and regulations such as thePatentLaw of the People’s Republic of China(《中华人民共和国专利法》),theCopyright Law of the People’s Republic of China(《中华人民共和国著作权法》), theTrademark Law of the People’s Republic of China(《中华人民共和国商标法》) andMeasures for the Supervision overand Administration of Product Anti-counterfeiting(《产品防伪监督管理办法》), the Company has formulated management systems andmechanisms such as theIntellectual Property and Software ManagementMeasures. We comprehensively standardize the protection of intellectualproperty rights, constantly optimize the application process oftrademarks, copyrights and patents, carry out brand protection, andcontinue to improve the intellectual property protection system.
二零二三年年报ANNUAL REPORT 20231532023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We actively safeguard our intellectual property rights by initiatingtrademark registration, copyright and patent registration, regularlyconducting novelty searches and inspections, and closely monitoringthe core intellectual property achievements to ensure the integrityand effectiveness of our intellectual property rights. Once clues ofinfringement are found, effective measures shall be taken immediatelyto crack down, and administrative or even criminal means shall beused to protect our rights. During the year, we updated the trademarkregistration process, refined the trademark registration processinformation, and developed relevant solutions.We respect the intellectual property achievements of others, and havedeveloped a comprehensive review process for the use of products,logos, and materials to ensure that all brand logos are approved for use,and set clear requirements for the use details such as the area wherethey appear, the form of exposure, the proportion of the appearance,the position, the font and the color. When involving the use of fonts,images, and other copyright-related scenarios and needs that are proneto infringement, we take the initiative to obtain relevant licenses, andregularly conduct infringement inspections or audits. In the processof brand image design, we sign relevant agreements with partners toenhance the protection of copyrights, and use relevant elements withinthe license conditions and scope to reduce the risk of infringement.With the globalization of the Company, we pay great attentionto overseas intellectual property protection. We announce ourintellectual property rights through overseas official websites andglobal e-commerce platforms, publicize the mailbox for complaints andreports on the“Intellectual Property Protection”module of the globalofficial website of Pop Mart (www.popmart.com), and cooperate withconsumers to jointly combat infringement. In 2023, the mailbox receivedmore than 180 report e-mails. We released the2023 Pop Mart IntellectualProperty Protection Work Report, which summarizes the intellectualproperty protection work in the past year to show our determination tosafeguard intellectual property rights and fight against crimes.我们积极维护自身知识产权，通过发起商标注册、著作权与专利登记，定期开展查新、检索及巡查工作，严密监测核心知识产权成果，确保本公司知识产权的完整性和有效性。一旦发现侵权线索立即采取有力措施打击，必要时通过行政甚至刑事手段维权。本年度，我们更新商标注册流程，细化商标注册流程信息，制定解决方案。我们尊重他人知识产权成果，针对商品、LOGO、物料素材的使用制定完善的审核流程，确保所有品牌标识的使用均经过相关审批，并对使用细节如其出现区域、露出形式、出现比例、位置、字体及颜色等设定明确要求；在涉及使用字体、图片等与版权相关的易发生侵权的场景和需求时，主动获取相关许可，定期进行侵权检查或审核；在品牌形象设计过程中，与合作方签署相关协议增强对著作权的保护，在许可条件和范围内对相关元素进行使用，降低侵权风险。随着本公司全球化发展，我们对海外知识产权工作的展开给予高度关注。我们通过海外官网及全球化电商平台公告知识产权权属，并在泡泡玛特全球官网www.popmart.com「知识产权保护」模块公示投诉举报邮箱，协同消费者共同打击侵权行为。2023年，该邮箱共接收举报邮件180余封。我们发布《2023泡泡玛特知识产权保护工作报告》，对近一年的知识产权保护工作进行总结规定，以表我们维护知识产权打击违法犯罪的决心。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1542023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告As of 31 December 2023, the Company owned 1,212 Copyrights, 1,328trademarks6and 48 patents7, of which 210 copyrights were registeredand 263 trademarks and 7 patents were applied for in 2023.Marketing and Advertisement ManagementIn compliance with laws and regulations such as theAdvertisingLaw of the People’s Republic of China(《中华人民共和国广告法》),the Company has always adhered to and practiced the concept ofresponsible marketing, and established relevant systems and clear usagestandards in advertising design, material selection, and placementpublicity, etc.. Starting from the Company’s brand positioning,we continue to standardize advertising to ensure that there is noconcealment, exaggeration and deception in advertising, and eliminatefalse publicity.To ensure the compliance and authenticity of advertising and marketingcontent, we strengthen the audit of advertising and marketing materialsand develop countermeasures to deal with potential non-compliancerisks. In the advertising design and material selection, the team avoidsusing extreme words such as“most”and“one”, or suspicion of consumerfraud, and timely modifies words that do not fit the facts to preventfalse publicity from misleading consumers. All publicity documentsshall be reviewed jointly by multiple departments to confirm accuracy,authenticity and non-infringement before being released. For offlinemarketing activities, we have established a rigorous management systemand review mechanism, and set up full-time art supervision and repairpersonnel to ensure that materials are used after multi-departmentreview and screening.6 Refers to the number of trademarks whose registration has not been revoked orwhose application for registration has not been rejected.7 Refers to the number of patents (inventions, utility models and appearancepatents) for which the rights granted have not been revoked or the applicationssubmitted have not been rejected.截至2023年12月31日，本公司拥有1,212项著作权、1,328项商标6和48项专利7。其中，2023年共登记210项著作权，申请263项商标和7项专利。营销与广告宣传管理本公司始终坚守并践行负责任的营销理念，遵守《中华人民共和国广告法》等法律法规，在广告设计、素材选取、投放宣传等方面制定相关制度和明确的使用标准，从本公司品牌定位出发，持续规范广告宣传，确保广告宣传无隐瞒、夸大、欺骗等行为，杜绝虚假宣传。为确保广告及营销内容的合规真实，我们加强审核广告及营销物料，制定应对措施以应对潜在违规风险。团队在广告设计及素材选取时，避免涉及「最」字、「一」字等极限词语或涉嫌欺诈消费者等，及时修改不贴切事实的词汇，防止虚假宣传、误导消费者。所有宣传文案需经多部门共同审核，确认准确、真实且不侵权后方可发布。对于线下营销活动，我们建立严谨的管理制度与送审机制，设置专职美术监修人员，确保素材经多部门审查筛选后使用。6指已注册未被撤销或提交注册申请未驳回的商标数量。7指已授予权利未被撤销或已提交申请未驳回的专利（发明、实用新型、外观专利）数量。
二零二三年年报ANNUAL REPORT 20231552023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We regularly monitor the placed advertisements and collect feedbackfrom various parties. Once advertisement or promotional informationare found to be inconsistent with the actual situation or suspected ofviolates the relevant laws and regulations, explanations and correctionswill be made in respect of the online advertisements on official accounts,and at the same time negotiate with customers for a solution, while theoffline advertisements will be taken down, withdrawn and correctedimmediately, and no similar situation will be allowed to happen again.For overseas advertisements, we require our partners to comply withlocal laws and regulations as well as the Company’s promotion standardsto ensure the truthfulness and compliance of promotional information.In addition, we arrange our marketing and design related staff to learnabout advertising rules and regulations, share industry case studies andpoints to note, so as to raise their awareness of responsible marketing.VIII.ANTI-CORRUPTION MANAGEMENTAnti-corruption is crucial to the sustainable operation of a business.The Company strictly comply with relevant laws and regulations, suchas theCivil Code of the People’s Republic of China(《中华人民共和国民法典》), theCompany Law of the People’s Republic of China(《中华人民共和国公司法》), theAnti-Money Laundering Law of the People’sRepublic of China(《中华人民共和国反洗钱法》) and theAnti-UnfairCompetition Law of the People’s Republic of China(《中华人民共和国反不正当竞争法》), and have established relevant managementsystems including theAnti-Embezzlement and Internal Audit System,theAnti-Money Laundering Management System, theComplianceManagement System, the Gift Acceptance Management Regulations,theConflict of Interest Management System, theExit Audit ManagementSystem, theInformation Confidentiality Management Systemand theEmployee Code of Conduct Management Systemto abide by businessethics in its corporate development and to improve the establishmentof anti-corruption management mechanisms.我们定期监测已投放的广告，收集多方反馈。一旦发现广告或宣传内容与事实不符或涉嫌违法违规的情况，线上广告将用官方账号解释并纠正，同时与客户协商解决方案；线下广告则立即下架、撤回并纠正，杜绝类似情况再次发生。对于海外广告，我们要求合作方遵守当地法规和公司宣传规范，确保内容真实合规。此外，我们组织市场营销及设计相关人员学习广告规章制度，分享行业案例和注意事项，提升员工负责任营销意识。八、反贪污管理反贪腐对企业可持续运营至关重要。本公司严格遵守《中华人民共和国民法典》《中华人民共和国公司法》《中华人民共和国反洗钱法》《中华人民共和国反不正当竞争法》等相关法律法规，制定《反舞弊与内部审计制度》《反洗钱工作管理制度》《合规管理制度》《礼品收受管理规定》《利益冲突管理制度》《离任审计管理制度》《信息保密管理制度》《员工行为规范管理制度》等相关管理制度，在企业发展中恪守商业道德，健全反贪污管理机制建设。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1562023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We continue to carry out corruption risk assessment in our day-to-daymanagement, which covers a number of domestic and overseasoperating locations, including Beijing, Dongguan, Shanghai, Hangzhou,Xi’an, Japan, Korea and Singapore, covering 80% of our overall businessscope. During the year, we detected and investigated more than 40cases of non-compliance, dismissed more than 40 persons for breachingthe rules and regulations, and referred those in serious cases to thepublic security organs. During the reporting period, the Company hadno concluded legal cases regarding corrupt practices.We consider it important that our partners recognize our compliancemanagement requirements we expect continuous communicationon compliance requirements to enhance the management of theprocurement process and to build an honest, trustworthy, transparentbusiness environment together with our partners. We sign theSunshineCooperation Agreementwith our suppliers and partners, which requirethem to comply with the laws and regulations applicable to wherethey operate. We give preference to partners who are willing to reportirregularities and support audit investigations.Compliant and Reporting ManagementThe Company proactively encourages internal and external reportingand disclosure of potential irregularities to maintain a clean and fairworking environment and to ensure the steady development of theCompany. We provide internal and external personnel with a variety ofonline and offline reporting channels, both anonymous and identifiable,including bilingual channels such as telephone, mailboxes, websites,letters, Feishu (飞书),“Sunshine Bubble”,“Bubble Phonograph”and“Direct Channel for our Friends (小伙伴直通车)”. We actively respondto reports, and assign specialists to carry out investigations, ensuringthat the handling process is fair, open and transparent. Once the reportis verified, it will be handled according to the severity of the case and,if necessary, will be transferred to the judicial authorities to pursuelegal responsibility of relevant personnel, in order to firmly protect theinterests and reputation of the Company.我们在日常管理中持续开展贪污腐败风险评估工作，范围涵盖北京、东莞、上海、杭州、西安、日本、韩国、新加坡等多个国内外运营地点，覆盖总业务范围的80%。本年度，我们发现并查处违规案件数40余起，辞退违规违纪人员40余名，情节严重的移送公安机关处理。本报告期内，本公司尚无已审结的贪污诉讼案件。我们重视合作伙伴是否认同我们的合规管理要求，期望持续传递合规要求，加强采购流程管理，与合作伙伴共同构建诚实可信、阳光透明的商业环境。我们与供应商及合作单位签署《阳光合作协议》，要求其遵守运营所在地所适用的法律法规。对于敢于举报违规行为和支持审计调查工作的合作伙伴，我们优先考虑与其合作。投诉举报管理本公司积极倡导内外部举报揭发潜在违规行为，共同维护廉洁、公正的工作环境，确保企业稳健发展。我们为内外部人员提供线上线下多种实名及匿名举报途径，开放电话、邮箱、网页、信函、飞书、「阳光泡泡」、「泡泡留声机」以及门店「小伙伴直通车」机制等中英双语渠道，积极响应举报，并派专人展开调查，确保处理过程公平、公开、透明。一旦查实举报内容，将根据情节轻重进行相应处理，必要时将移交司法机关追究其法律责任，坚决维护本公司的利益和声誉。
二零二三年年报ANNUAL REPORT 20231572023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告We attach great importance to the confidentiality of reports and haveset out the relevant management rules on complaints and reports inourInternal Audit Management System, which clearly prohibits anyform of retaliation against the whistleblower, including but not limitedto obstruction, harassment, insults, defamation, threat, intimidationor assault and in case of any of such behaviors identified, relevantresponsible individuals shall be punished severely, and we reserve theright to pursue legal liability against them.Anti-corruption TrainingAll new employees of the Company are required to undergo businessethics training which includes integrity education. In 2023, wesuccessfully filmed our first publicity video on integrity and compliance,“Who Vanished (《消失的TA》)”, which conveys the values of integrityand honesty in a humorous way; we launched the“Sunshine Stage”publicity account to disseminate a variety of video contents to spreadthe concept of integrity and risk control to all employees; we designedand posted integrity posters in the office and continuously projectedintegrity-themed content in the meeting room to keep remindingour employees to comply with business ethics, so that the conceptof integrity is deeply believed in their minds; we released a surveyon integrity perception to ascertain the awareness and needs ofour employees in relation to a culture of integrity, and to adjust andoptimize our integrity efforts based on the feedback received; weconducted an hour-long integrity training programme for directors atthe directors’meeting to strengthen the awareness of integrity andself-discipline; we published 16 related articles on“Sunshine Bubble”subscription account on Feishu (飞书), with a cumulative readershipof more than 56,000 times, which aroused widespread concern andheated discussions among employees. These integrity educationpublicity programmes cover the Company’s directors, middle and seniormanagement, all full-time employees and part-time employees, with atraining rate of 100%.我们十分重视举报的保密工作，在《内部审计管理制度》中阐明投诉与举报等相关管理规定，明确禁止对举报人采取任何形式的打击报复，包括但不限于阻挠、骚扰、侮辱、诽谤、威胁、恐吓或人身伤害等，一经发现将对相关责任人予以严肃处理，保留追究其法律责任的权利。反贪污培训本公司所有新入职员工均需接受包含廉洁教育在内的商业道德培训。2023年，我们成功拍摄首部廉洁合规宣传视频《消失的TA》，以幽默方式传递正直廉洁的价值观；创建「阳光大舞台」宣传账号，发布多样化视频内容，向全体员工全方位宣贯廉洁风控理念；在办公区域内设计并张贴廉洁宣传海报、会议室持续投屏廉洁主题内容，时刻提醒员工遵守商业道德行为，使廉洁理念深入人心；发布廉洁感知调查问卷，了解员工对廉洁文化的认知和需求，并根据反馈调整优化廉洁工作；在总监会议中对董事进行为期1小时的廉洁培训，强化廉洁自律意识；在飞书「阳光泡泡」订阅号上发布16篇相关文章，累计阅读量超过5.6万次，引发员工的广泛关注和热烈讨论。这些廉洁教育宣贯覆盖公司董事、中高层管理人员、所有全职员工及兼职员工，培训覆盖率达100%。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1582023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Anti-corruption Training反贪污培训开展情况IndicatorsData for 2023指标2023年数据Number of concluded legal cases regarding corrupt practices (cases)已审结贪污诉讼案件数量（起）0Number of Directors participating in anti-corruption training (persons)参与反贪污培训董事的人数（人）4Number of employees participating in anti-corruption training (persons)参与反贪污培训员工的人数（人）5,000九、社区投资管理本公司始终坚守「创造潮流，传递美好」的品牌使命，积极践行企业社会责任，努力成为有温度、有担当的行业典范。我们充分利用自身优势，在保护生态环境、支持乡村美育教育、推广航天文化、开展品牌公益等领域持续投入资源，与周边社区保持沟通，踊跃参与各类社区与公益活动，致力于为消费者、行业和社会带来持久的正面影响，实现品牌与社会的共同繁荣。本报告期内，我们在社区投资方面共投入约人民币265万元，组织志愿活动时长达到约1,600小时。IX. COMMUNITY INVESTMENT MANAGEMENTAdhering to the brand mission of“creating trends and deliveringfineness”, the Company has been practicing its corporate socialresponsibility and is committed to becoming a model enterprise withwarmth and commitment in the industry. Leveraging our strengths, wecontinuously invest resources in ecological environmental protection,aesthetic education in rural areas, space culture and brand charity. Wemaintain communication with the surrounding communities, activelyparticipate in various community welfare-related activities, and striveto bring lasting positive impacts to consumers, industry, and society,thereby achieving common prosperity for the brand and society.During the reporting period, we had total community investment ofapproximately RMB2.65 million, and time devoted to volunteer activitiesof approximately 1,600 hours.
二零二三年年报ANNUAL REPORT 20231592023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Case: Launching the First“Carbon Neutral”Product to Callfor Biodiversity ConservationThe Company responds to the national“carbon neutrality”strategywith practical actions, and has been exploring new directions for thedevelopment of green trend toys. In September 2023, at the POP TOYSHOW (PTS) Shanghai, we launched our first“carbon neutral”product,a co-branded action figure“DIMOO x Castor Fiber Birulai”and donatedRMB600,000 to the China Environmental Protection Foundation topromote biodiversity conservation and charity activities.Case: Promoting the Implementation of“POP MART CharityAesthetic Education Center”Project to Further DevelopAesthetic Education in Rural AreasWe continue to promote the brand charity project of“POP MARTCharity Aesthetic Education Center”, providing local rural teachers andstudents with more rich and high-quality aesthetic education coursesand activities through the aesthetic education center, continuouslyexpanding the boundaries of aesthetic education and practice, andpromoting the development of children’s aesthetic education in ruralareas. During the year, the completion ceremony of the“POP MARTCharity Aesthetic Education Center”was held in March at GuquanHope Primary School in Shiqiao Town, Li County, Longnan City, GansuProvince. We have built five new aesthetic education centers andorganized teacher empowerment, daily aesthetic education courses,and innovative courses in a“hardware + courses + activities”model.The results have benefited thousands of students, provided aestheticeducation venues, resources, and characteristic aesthetic educationtraining support for rural schools in designated assistance areas,enriching the humanistic spirit and artistic literacy of rural students, andhelping to promote the development of aesthetic education for ruralchildren.案例：发布首款「碳中和」产品，呼吁生物多样性保护本公司以实际行动响应国家「碳中和」战略，探索绿色潮流玩具发展的新方向。2023年9月，在上海PTS国际潮流玩具展上，我们发布首款「碳中和」产品—「DIMOO×蒙新河貍」联名手办，并向中华环境保护基金会捐赠人民币60万元，推动生物多样性保护和公益宣传活动。案例：推动「POP MART公益美育中心」项目落地，深耕乡村美术教育我们持续推进「POP MART公益美育中心」品牌公益项目，通过美育中心，为当地乡村师生提供更多丰富优质的美育课程和活动，让美育中心赋能美好传播，不断拓展美育教育与实践的边界，推动乡村儿童美育发展。本年度，「POP MART公益美育中心」落成仪式于3月在甘肃省陇南市礼县石桥镇古泉希望小学举行，我们新建5所美育中心，以「硬件+课程+活动」的模式，组织开展师资赋能、美育日常课程及创新课程，成果惠及上千名学生，为定点帮扶地区的乡村学校提供美育场所、资源和特色美育培养支持，丰富乡村学生的人文精神和发展艺术素养，助力乡村儿童美育发展。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1602023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Case: Collaboratively Launching the Charity Activity of“Drawing Your Dreams”to Support Every Artistic DreamIn October 2023, MOLLY, the IP of Pop Mart, in cooperation withAlipay Ant Manor and China Foundation for Rural Development, jointlylaunched a theme activity of“Drawing Your Dreams”. The activitywas carried out on the platform of Alipay Ant Manor, and the publicwas invited to participate in the aesthetic education project of ruralstudents through charity activity, taking tide play IPs and popularcharity products as carriers. We have released a joint charity IP image tocreate an exclusive manor event for MOLLY. During the event, users canclock in offline to receive premium feed, feed chicks, and receive loveeggs. Through charity activities such as“feeding sugar”and“donatinglove eggs”, users can unlock opportunities to interact with MOLLY andreceive limited dress-ups. The innovative event attracted millions ofusers to participate and provided strong support for rural student artisticeducation projects. During the event, more than 33.48 million love eggswere donated.In addition, Pop Mart and volunteer designers of Alipay Ant Manorwent to Mingde Primary School in Chayouhou Banner, Inner Mongolia,to provide students with a unique artistic education course. Throughvarious methods such as online and offline linkage, we help ruralchildren achieve their artistic dreams.案例：合作发起「一笔一画，梦想成真」公益活动，托举每一个艺术梦想2023年10月，泡泡玛特旗下IP MOLLY与支付宝蚂蚁庄园、中国乡村发展基金会合作，共同发起「一笔一画，梦想成真」主题活动。活动在支付宝蚂蚁庄园平台开展，以潮玩IP和高参与力的公益产品为载体，邀请大众通过公益行为参与到乡村学生美育教育项目中。我们发布联合公益IP形象，为MOLLY打造专属庄园活动，活动期间，用户可在线下打卡领取高级饲料、喂养小鸡、获得爱心蛋，通过「喂糖」「捐赠爱心蛋」等公益行为，解锁与MOLLY互动的机会，获取限定装扮。新颖的活动方式吸引千万用户参与，为乡村学生美育教育项目提供强大支持，活动期间共捐赠爱心蛋3,348万余颗。此外，泡泡玛特和蚂蚁庄园的设计师志愿者一起来到内蒙古察右后旗明德小学，为学生们带来一堂别开生面的美育课，通过线上、线下联动等多种方式，助力乡村孩子们实现美术梦想。
二零二三年年报ANNUAL REPORT 20231612023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Case: Launching Co-Branded Products to Assist in theConstruction of Rural SchoolsThe Company supports the national“rural revitalization”strategy andexplores new paths to empower the development of rural educationthrough brand cooperation. In June 2023, Pop Mart and KFC jointlylaunched the“DIMOO KFC China Co-branded Colonel”, with a limitedsales volume of 290 units, and reached cooperation with the ChinaInternet Development Foundation to donate all sales proceeds ofthis co-branded product to the digital kitchen construction projectof Sichuan Ganzi Rural School to support the development of localeducation.Case: Launching the“HACIPUPU My Little Hero”ThemedFlights Event to Pay Tribute to the Heroes Around UsThe Company actively responds to the call for public welfare, andpractices its social responsibility by further promoting charity activitiesbased on IP advantages. In August 2023, we collaborated with HainanAirlines to launch the“HACIPUPU My Little Hero”themed flights event.With the theme of“Amazing Leaders in Our Daily Life”, this collaborationpaid tribute to the“Little Heroes”around us at a height of 10,000 meters.The themed flights event lasted for 30 days, covering 300 routes andreaching 5,000 passengers. We leveraged our professional advantages increative design, allowing travelers to fully experience the atmosphere ofthe themed flights, and share heroic deeds in daily life, deepening thebrand’s public welfare influence.案例：推出品牌联动产品，助力乡村学校建设本公司支持国家「乡村振兴」战略，探索以品牌合作赋能乡村教育发展的新路径。2023年6月，泡泡玛特与肯德基携手推出「DIMOO肯德基中国联名款上校」，限量发售290体，并与中国互联网发展基金会达成合作，将本款联名产品的全部售卖所得捐赠给四川甘孜州乡村学校数字化厨房建设项目，以支持当地教育事业发展。案例：开展「HACIPUPU小小英雄系列」主题航班活动，致敬身边英雄本公司积极响应公益号召，围绕IP优势，深入推进公益活动，践行社会责任。2023年8月，我们联合海南航空开展「HACIPUPU小小英雄系列」主题航班活动。此次合作以「了不起的引航者，致敬每一个平凡而闪光的你」为主题，在万米高空致敬身边的「小小英雄」，主题航班活动持续30天，覆盖300条航线，触达乘客5,000人次。我们充分发挥创意设计领域的专业优势，让旅客们全面感受到HACIPUPU小小英雄系列主题航班的氛围，并在活动中分享发生在身边的英雄事迹，深化品牌公益影响力。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1622023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告鉴于本年度在社会责任方面的突出表现，我们获得了多个奖项与殊荣。2023年9月，泡泡玛特城市乐园荣获北京市文化和旅游科技创新应用场景十佳案例，目前，泡泡玛特城市乐园已获得北京市朝阳区中小学生社会大课堂资源的资质。2023年10月，本公司入选商务部2023-2024年度国家文化出口重点企业。2023年11月，本公司荣登第七届CSR中国教育榜最佳责任企业品牌TOP 100。同月，本公司「DIMOO×蒙新河貍」IP联名环保公益传播荣获第30届中国国际广告节•广告主盛典「2023年度内容营销金案」；「DIMOO×蒙新河貍」联名公益产品项目荣获凤凰网行动者联盟2023公益盛典「年度十大公益创意」。Given our outstanding performance in social responsibility duringthe year, we have received various awards and honors. In September2023, POP LAND was awarded the“Top 10 Scientific and InnovativeApplication Scenarios of Culture and Tourism in Beijing”. Currently,POP LAND has obtained the qualification as a social practice classroomresource unit for primary and secondary school students in ChaoyangDistrict, Beijing. In October 2023, the Company was selected as a keynational cultural export enterprise by the Ministry of Commerce for theyear 2023/2024. In November 2023, the Company was listed in the“CSRChina TOP 100 Rank”of the 7th CSR China Sustainable ResponsibilityAward. In the same month, the Company’s co-branded IP environmentalpublic welfare communication of“DIMOO x Castor Fiber Birulai”wasselected for the“2023 Content Marketing Gold Case”at the 30th ChinaInternational Advertising Festival • Advertisers Ceremony; and theco-branded charity product project of“DIMOO x Castor Fiber Birulai”wasawarded the“Top 10 Public Welfare Creatives of the Year”at the IFENGAction League & 2023 Public Welfare Extravaganza.Pop Mart was listed in the”CSR China TOP 100 Rank”of the 7th CSR ChinaSustainable Responsibility Award泡泡玛特荣登第七届CSR中国教育榜最佳责任企业品牌TOP 100
二零二三年年报ANNUAL REPORT 20231632023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告展望未来，本公司将继续发挥潮玩文化的凝聚力和产业优势，不断加大保护生态环境、支持乡村美育教育、推广航天文化、开展品牌公益等领域的投入。我们将不断践行爱心与善行，肩负企业社会责任，用实际行动回馈社会，为消费者、行业和社会创造永续价值。Looking forward to the future, the Company will continue to leveragethe cohesion and industrial advantages of tide play culture, continuouslyincrease investment in ecological environmental protection, aestheticeducation in rural areas, space culture and brand charity. We willcontinuously implement caring and charity activities, shoulder corporatesocial responsibility, give back to society with practical actions, andcreate sustainable value for consumers, industry and society.Co-branded charity product project of“DIMOO x Castor FiberBirulai”was awarded the“Top 10 Public Welfare Creatives ofthe Year”at the IFENG Action League & 2023 Public WelfareExtravaganza「DIMOO×蒙新河貍」联名公益产品项目荣获凤凰网行动者联盟2023公益盛典「年度十大公益创意」Co-branded IP environmental public welfare communicationof“DIMOO x Castor Fiber Birulai”was selected for the“2023 Content Marketing Gold Case”at the 30th ChinaInternational Advertising Festival • Advertisers Ceremony「DIMOO×蒙新河貍」IP联名环保公益传播荣获第30届中国国际广告节•广告主盛典「2023年度内容营销金案」
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1642023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告香港联交所ESG报告指引索引Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节Governance Structure管治架构A statement from the board containing the following elements:由董事会发出的声明，当中载有下列内容：(i) a disclosure of the board’s oversight of ESG issues;(i)披露董事会对环境、社会及管治事宜的监管；(ii) the board’s ESG management approach and strategy, including the process used to evaluate, prioritise andmanage material ESG-related issues (including risks to the issuer’s businesses); and(ii)董事会的环境、社会及管治管理方针及策略，包括评估、优次排列及管理重要的环境、社会及管治相关事宜（包括对发行人业务的风险）的过程；及(iii) how the board reviews progress made against ESG-related goals and targets with an explanation of howthey relate to the issuer’s businesses.(iii)董事会如何按环境、社会及管治相关目标检讨进度，并解释它们如何与发行人业务有关连。Board Statement董事会声明Reporting Principles汇报原则A description of, or an explanation on, the application of the following Reporting Principles in the preparationof the ESG Report:描述或解释在编备环境、社会及管治报告时如何应用汇报原则：Materiality: The ESG report should disclose: (i) the process to identify and the criteria for the selection of materialESG factors; (ii) if a stakeholder engagement is conducted, a description of significant stakeholders identified,and the process and results of the issuer’s stakeholder engagement.重要性：环境、社会及管治报告应披露：(i)识别重要环境、社会及管治因素的过程及选择这些因素的准则；(ii)如发行人已进行持份者参与，已识别的重要持份者的描述及发行人持份者参与的过程及结果。Quantitative: Information on the standards, methodologies, assumptions and/or calculation tools used andsource of conversion factors used, for the reporting of emissions/energy consumption (where applicable) shouldbe disclosed.量化：有关汇报排放量╱能源耗用（如适用）所用的标准、方法、假设及╱或计算工具的资料，以及所使用的转换因素的来源应予披露。Consistency: The issuer should disclose in the ESG report any changes to the methods or KPIs used, or any otherrelevant factors affecting a meaningful comparison.一致性：发行人应在环境、社会及管治报告中披露统计方法或关键绩效指标的变更（如有）或任何其他影响有意义比较的相关因素。About this Report关于本报告THE ESG REPORTING GUIDE CONTENT INDEX OFTHE HONG KONG STOCK EXCHANGE
二零二三年年报ANNUAL REPORT 20231652023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节Reporting Boundary汇报范围A narrative explaining the reporting boundaries of the ESG report and describing the process used to identifywhich entities or operations are included in the ESG report. If there is a change in the scope, the issuer shouldexplain the difference and reason for the change.解释环境、社会及管治报告的汇报范围，及描述挑选哪些实体或业务纳入环境、社会及管治报告的过程。若汇报范围有所改变，发行人应解释不同之处及变动原因。About this Report关于本报告A. EnvironmentalA.环境Aspect A1: Emissions层面A1：排放物General Disclosure一般披露Information on:有关废气及温室气体排放、向水及土地的排污、有害及无害废弃物的产生等的：(a) the policies; and(a)政策；及(b) compliance with relevant laws and regulations that have a significant impact on the issuer relating toair and greenhouse gas emissions, discharges into water and land, and generation of hazardous andnonhazardous waste.(b)遵守对发行人有重大影响的相关法律及规例的资料。Note: Air emissions include NOX, SOX, and other pollutants regulated under national laws and regulations.注：废气排放包括氮氧化物、硫氧化物及其他受国家法律法规及规例规管的污染物。Greenhouse gases include carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons andsulphur hexafluoride.温室气体包括二氧化碳、甲烷、氧化亚氮、氢氟碳化合物、全氟化碳及六氟化硫。Hazardous wastes are those defined by national regulations.有害废弃物指国家规例所界定者。EnvironmentManagement环境管理KPI A1.1 The types of emissions and respective emissions data.关键绩效指标A1.1排放物种类及相关排放数据。EnvironmentKey PerformanceIndicators环境关键绩效指标KPI A1.2 Direct (Scope 1) and energy indirect (Scope 2) greenhouse gas emissions (in tonnes) and, whereappropriate, intensity (e.g. per unit of production volume, per facility).关键绩效指标A1.2直接（范围一）及能源间接（范围二）温室气体排放量（以吨计算）及（如适用）密度（如以每产量单位、每项设施计算）。EnvironmentKey PerformanceIndicators环境关键绩效指标
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1662023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节KPI A1.3 Total hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g. per unit ofproduction volume, per facility).关键绩效指标A1.3所产生有害废弃物总量（以吨计算）及（如适用）密度（如以每产量单位、每项设施计算）。EnvironmentKey PerformanceIndicators环境关键绩效指标KPI A1.4 Total non-hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g. per unit ofproduction volume, per facility).关键绩效指标A1.4所产生无害废弃物总量（以吨计算）及（如适用）密度（如以每产量单位、每项设施计算）。EnvironmentKey PerformanceIndicators环境关键绩效指标KPI A1.5 Description of emissions target(s) set and steps taken to achieve them.关键绩效指标A1.5描述所订立的排放量目标及为达到这些目标所采取的步骤。EnvironmentManagement环境管理KPI A1.6 Description of how hazardous and non-hazardous wastes are handled, and a description of reductiontarget(s) set and steps taken to achieve them.关键绩效指标A1.6描述处理有害及无害废弃物的方法，及描述所订立的减废目标及为达到这些目标所采取的步骤。EnvironmentManagement环境管理Aspect A2: Use of Resources层面A2：资源使用General Disclosure一般披露Policies on the efficient use of resources, including energy, water and other raw materials.有效使用资源（包括能源、水及其他原材料）的政策。Note: Resources may be used in production, in storage, transportation, in buildings, electronic equipment, etc.注：资源可用于生产、储存、交通、楼宇、电子设备等。EnvironmentManagement环境管理KPI A2.1 Direct and/or indirect energy consumption by type (e.g. electricity, gas or oil) in total (kWh in’000s) andintensity (e.g. per unit of production volume, per facility).关键绩效指标A2.1按类型划分的直接及╱或间接能源（如电、气或油）总耗量（以千个千瓦时计算）及密度（如以每产量单位、每项设施计算）。EnvironmentKey PerformanceIndicators环境关键绩效指标KPI A2.2 Water consumption in total and intensity (e.g. per unit of production volume, per facility).关键绩效指标A2.2总耗水量及密度（如以每产量单位、每项设施计算）。EnvironmentKey PerformanceIndicators环境关键绩效指标KPI A2.3 Description of energy use efficiency target(s) set and steps taken to achieve them.关键绩效指标A2.3描述所订立的能源使用效益目标及为达到这些目标所采取的步骤。EnvironmentManagement环境管理KPI A2.4 Description of whether there is any issue in sourcing water that is fit for purpose, water efficiencytarget(s) set and steps taken to achieve them.关键绩效指标A2.4描述求取适用水源上可有任何问题，以及所订立的用水效益目标及为达到这些目标所采取的步骤。EnvironmentManagement环境管理KPI A2.5 Total packaging material used for finished products (in tonnes) and, if applicable, with reference to perunit produced.关键绩效指标A2.5制成品所用包装材料的总量（以吨计算）及（如适用）每生产单位占量。EnvironmentKey PerformanceIndicators环境关键绩效指标
二零二三年年报ANNUAL REPORT 20231672023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节Aspect A3: The Environment and Natural Resources层面A3：环境及天然资源General Disclosure一般披露Policies on minimising the issuer’s significant impacts on the environment and natural resources.减低发行人对环境及天然资源造成重大影响的政策。EnvironmentManagement环境管理KPI A3.1 Description of the significant impacts of activities on the environment and natural resources and theactions taken to manage them.关键绩效指标A3.1描述业务活动对环境及天然资源的重大影响及已采取管理有关影响的行动。EnvironmentManagement环境管理Aspect A4: Climate Change层面A4：气候变化General Disclosure一般披露Policies on identification and mitigation of significant climate-related issues which have impacted, and thosewhich may impact, the issuer.识别及应对已经及可能会对发行人产生影响的重大气候相关事宜的政策。EnvironmentManagement环境管理KPI A4.1 Description of the significant climate-related issues which have impacted, and those which may impact,the issuer, and the actions taken to manage them.关键绩效指标A4.1描述已经及可能会对发行人产生影响的重大气候相关事宜，及应对行动。EnvironmentManagement环境管理B. SocialB.社会Employment and Labour Practices雇佣及劳工常规Aspect B1: Employment层面B1：雇佣General Disclosure一般披露Information on:有关薪酬及解雇、招聘及晋升、工作时数、假期、平等机会、多元化、反歧视以及其他待遇及福利的：(a) the policies; and(a)政策；及(b) compliance with relevant laws and regulations that have a significant impact on the issuer relating tocompensation and dismissal, recruitment and promotion, working hours, rest periods, equal opportunity,diversity, anti-discrimination, and other benefits and welfare.(b)遵守对发行人有重大影响的相关法律及规例的资料。Employment andLabor Standards雇佣及劳工准则
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1682023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节KPI B1.1 Total workforce by gender, employment type (for example, full – or part-time), age group andgeographical region.关键绩效指标B1.1按性别、雇佣类型（如全职或兼职）、年龄组别及地区划分的雇员总数。Employment andLabor Standards雇佣及劳工准则KPI B1.2 Employee turnover rate by gender, age group and geographical region.关键绩效指标B1.2按性别、年龄组别及地区划分的雇员流失比率。Employment andLabor Standards雇佣及劳工准则Aspect B2: Health and Safety层面B2：健康与安全General Disclosure一般披露Information on:有关提供安全工作环境及保障雇员避免职业性危害的：(a) the policies; and(a)政策；及(b) compliance with relevant laws and regulations that have a significant impact on the issuer relating toproviding a safe working environment and protecting employees from occupational hazards.(b)遵守对发行人有重大影响的相关法律及规例的资料。Employment andLabor Standards雇佣及劳工准则KPI B2.1 Number and rate of work-related fatalities occurred in each of the past three years including thereporting year.关键绩效指标B2.1过去三年（包括汇报年度）每年因工亡故的人数及比率。Employment andLabor Standards雇佣及劳工准则KPI B2.2 Lost days due to work injury.关键绩效指标B2.2因工伤损失工作日数。Employment andLabor Standards雇佣及劳工准则KPI B2.3 Description of occupational health and safety measures adopted, and how they are implemented andmonitored.关键绩效指标B2.3描述所采纳的职业健康与安全措施，以及相关执行及监察方法。Employment andLabor Standards雇佣及劳工准则Aspect B3: Development and Training层面B3：发展及培训General Disclosure一般披露Policies on improving employees’knowledge and skills for discharging duties at work. Description of trainingactivities.有关提升雇员履行工作职责的知识及技能的政策。描述培训活动。Note: Training refers to vocational training. It may include internal and external courses paid by the employer.注：培训指职业培训，可包括由雇主付费的内外部课程。Employment andLabor Standards雇佣及劳工准则KPI B3.1 The percentage of employees trained by gender and employee category (e.g. senior management,middle management).关键绩效指标B3.1按性别及雇员类别（如高级管理层、中级管理层）划分的受训雇员百分比。Employment andLabor Standards雇佣及劳工准则KPI B3.2 The average training hours completed per employee by gender and employee category.关键绩效指标B3.2按性别及雇员类别划分，每名雇员完成受训的平均时数。Employment andLabor Standards雇佣及劳工准则
二零二三年年报ANNUAL REPORT 20231692023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节Aspect B4: Labor Standards层面B4：劳工准则General Disclosure一般披露Information on:有关防止童工或强制劳工的：(a) the policies; and(a)政策；及(b) compliance with relevant laws and regulations that have a significant impact on the issuer relating topreventing child and forced labor.(b)遵守对发行人有重大影响的相关法律及规例的资料。Employment andLabor Standards雇佣及劳工准则KPI B4.1 Description of measures to review employment practices to avoid child and forced labor.关键绩效指标B4.1描述检讨招聘惯例的措施以避免童工及强制劳工。Employment andLabor Standards雇佣及劳工准则KPI B4.2 Description of steps taken to eliminate such practices when discovered.关键绩效指标B4.2描述在发现违规情况时消除有关情况所采取的步骤。Employment andLabor Standards雇佣及劳工准则Operating Practices运营惯例Aspect B5: Supply Chain Management层面B5：供应链管理General Disclosure一般披露Policies on managing environmental and social risks of the supply chain.管理供应链的环境及社会风险政策。Supply ChainManagement供应链管理KPI B5.1 Number of suppliers by geographical region.关键绩效指标B5.1按地区划分的供应商数目。Supply ChainManagement供应链管理KPI B5.2 Description of practices relating to engaging suppliers, number of suppliers where the practices arebeing implemented, and how they are implemented and monitored.关键绩效指标B5.2描述有关聘用供应商的惯例，向其执行有关惯例的供应商数目，以及相关执行及监察办法。Supply ChainManagement供应链管理KPI B5.3 Description of practices used to identify environmental and social risks along the supply chain, and howthey are implemented and monitored.关键绩效指标B5.3描述有关识别供应链每个环节的环境及社会风险的惯例，以及相关执行及监察方法。Supply ChainManagement供应链管理KPI B5.4 Description of practices used to promote environmentally preferable products and services whenselecting suppliers, and how they are implemented and monitored.关键绩效指标B5.4描述在拣选供应商时促使多用环保产品及服务的惯例，以及相关执行及监察方法。Supply ChainManagement供应链管理
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司1702023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节Aspect B6: Product Responsibility层面B6：产品责任General Disclosure一般披露Information on:有关所提供产品和服务的健康与安全、广告、标签及私隐事宜以及补救方法的：(a) the policies; and(a)政策；及(b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to healthand safety, advertising, labelling and privacy matters relating to products and services provided and methodsof redress.(b)遵守对发行人有重大影响的相关法律及规例的资料。ProductResponsibilityManagement产品责任管理KPI B6.1 Percentage of total products sold or shipped subject to recalls for safety and health reasons.关键绩效指标B6.1已售或已运送产品总数中因安全与健康理由而须回收的百分比。ProductResponsibilityManagement产品责任管理KPI B6.2 Number of products and service related complaints received and how they are dealt with.关键绩效指标B6.2接获关于产品及服务的投诉数目以及应对方法。ProductResponsibilityManagement产品责任管理KPI B6.3 Description of practices relating to observing and protecting intellectual property rights.关键绩效指标B6.3描述与维护及保障知识产权有关的惯例。ProductResponsibilityManagement产品责任管理KPI B6.4 Description of quality assurance process and recall procedures.关键绩效指标B6.4描述质量检定过程及产品回收程序。ProductResponsibilityManagement产品责任管理KPI B6.5 Description of consumer data protection and privacy policies, and how they are implemented andmonitored.关键绩效指标B6.5描述消费者资料保障及私隐政策，以及相关执行及监察方法。ProductResponsibilityManagement产品责任管理
二零二三年年报ANNUAL REPORT 20231712023 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT2023年环境、社会及管治报告Subject Areas, Aspects, General Disclosures and KPIsSection主要范畴、层面、一般披露及关键绩效指标章节Aspect B7: Anti-corruption层面B7：反贪污General Disclosure一般披露Information on:有关防止贿赂、勒索、欺诈及洗黑钱的：(a) the policies; and(a)政策；及(b) compliance with relevant laws and regulations that have a significant impact on the issuer relating tobribery, extortion, fraud and money laundering.(b)遵守对发行人有重大影响的相关法律及规例的资料。Anti-corruptionManagement反贪污管理KPI B7.1 Number of concluded legal cases regarding corrupt practices brought against the issuer or itsemployees during the reporting period and the outcomes of the cases.关键绩效指标B7.1于汇报期内对发行人或其雇员提出并已审结的贪污诉讼案件的数目及诉讼结果。Anti-corruptionManagement反贪污管理KPI B7.2 Description of preventive measures and whistle-blowing procedures, and how they are implementedand monitored.关键绩效指标B7.2描述防范措施及举报程序，以及相关执行及监察方法。Anti-corruptionManagement反贪污管理KPI B7.3 Description of anti-corruption training provided to directors and staff.关键绩效指标B7.3描述向董事及员工提供的反贪污培训。Anti-corruptionManagement反贪污管理Aspect B8: Community Investment层面B8：社区投资General Disclosure一般披露Policies on community engagement to understand the needs of the communities where the issuer operatesand to ensure its activities take into consideration the communities’interests.有关以社区参与来了解营运所在社区需要和确保其业务活动会考虑社区利益的政策。CommunityInvestmentManagement社区投资管理KPI B8.1 Focus areas of contribution (e.g. education, environmental concerns, labor needs, health, culture, sport).关键绩效指标B8.1专注贡献范畴（如教育、环境事宜、劳工需求、健康、文化、体育）。CommunityInvestmentManagement社区投资管理KPI B8.2 Resources contributed (e.g. money or time) to the focus area.关键绩效指标B8.2在专注范畴所动用资源（如金钱或时间）。CommunityInvestmentManagement社区投资管理
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司172INDEPENDENT AUDITOR’S REPORT独立核数师报告To the Shareholders of POP MART INTERNATIONAL GROUP LIMITED(incorporated in the Cayman Islands with limited liability)OPINIONWhat we have auditedThe consolidated financial statements of POP MART INTERNATIONAL GROUPLIMITED (the“Company”) and its subsidiaries (the“Group”), which are set outon pages 180 to 318, comprise:• the consolidated balance sheet as at 31 December 2023;• the consolidated statement of profit or loss and other comprehensiveincome for the year then ended;• the consolidated statement of changes in equity for the year thenended;• the consolidated statement of cash flows for the year then ended; and• the notes to the consolidated financial statements, comprising materialaccounting policy information and other explanatory information.Our opinionIn our opinion, the consolidated financial statements give a true and fair viewof the consolidated financial position of the Group as at 31 December 2023,and of its consolidated financial performance and its consolidated cash flowsfor the year then ended in accordance with IFRS Accounting Standards andhave been properly prepared in compliance with the disclosure requirementsof the Hong Kong Companies Ordinance.致泡泡玛特国际集团有限公司股东（于开曼群岛注册成立的有限公司）意见我们已审计的内容泡泡玛特国际集团有限公司（以下简称「贵公司」）及其附属公司（以下统称「贵集团」）列载于第180至318页的综合财务报表，包括：•于2023年12月31日的综合资产负债表；•截至该日止年度的综合损益及其他全面收益表；•截至该日止年度的综合权益变动表；•截至该日止年度的综合现金流量表；及•综合财务报表附注，包括重大会计政策信息及其他解释信息。我们的意见我们认为，该等综合财务报表已根据《国际财务报告会计准则》真实而中肯地反映了贵集团于2023年12月31日的综合财务状况及其截至该日止年度的综合财务表现及综合现金流量，并已遵照香港《公司条例》的披露规定妥为拟备。
二零二三年年报ANNUAL REPORT 2023173INDEPENDENT AUDITOR’S REPORT独立核数师报告BASIS FOR OPINIONWe conducted our audit in accordance with International Standards onAuditing (“ISAs”). Our responsibilities under those standards are furtherdescribed in the Auditor’s Responsibilities for the Audit of the ConsolidatedFinancial Statements section of our report.We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Codeof Ethics for Professional Accountants (including International IndependenceStandards) issued by the International Ethics Standards Board for Accountants(“IESBA Code”), and we have fulfilled our other ethical responsibilities inaccordance with the IESBA Code.KEY AUDIT MATTERSKey audit matters are those matters that, in our professional judgment, wereof most significance in our audit of the consolidated financial statementsof the current period. These matters were addressed in the context of ouraudit of the consolidated financial statements as a whole, and in forming ouropinion thereon, and we do not provide a separate opinion on these matters.意见的基础我们已根据《国际审计准则》进行审计。我们在该等准则下承担的责任已在本报告核数师就审计综合财务报表承担的责任部分中作进一步阐述。我们相信，我们所获得的审计凭证能充足及适当地为我们的审计意见提供基础。独立性根据国际会计师职业道德准则理事会颁布的《国际会计师职业道德守则（包含国际独立性标准）》（以下简称「道德守则」），我们独立于贵集团，并已履行道德守则中的其他职业道德责任。关键审计事项关键审计事项是根据我们的专业判断，认为对本期综合财务报表的审计最为重要的事项。这些事项是在我们审计整体综合财务报表及出具意见时进行处理的。我们不会对这些事项提供单独的意见。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司174INDEPENDENT AUDITOR’S REPORT独立核数师报告KEY AUDIT MATTERS(Continued)The key audit matter identified in our audit is related to impairment provisionfor inventories.Key Audit Matter关键审计事项How our audit addressed the Key Audit Matter我们的审计如何处理关键审计事项Impairment provision for inventories存货减值准备Refer to notes 2.1(g), 4(a) and 22 to the consolidated financialstatements.请参阅综合财务报表附注2.1(g)、4(a)及22。As at 31 December 2023, the Group’s balance of grossinventories was RMB922 million, against which a provision ofRMB17 million was made.于2023年12月31日，贵集团的总存货结余为人民币922百万元，并计提存货减值准备人民币17百万元。Inventories are stated at the lower of cost and net realisablevalue. Net realisable value is the estimated selling price inthe ordinary course of business less the estimated costs ofcompletion and the estimated costs necessary to make the sale.存货按成本和可变现净值两者中较低者列报。可变现净值是指在正常经营过程中的估计售价减去估计的完工成本和估计的销售所需成本。The estimation of impairment provision for inventories involvessignificant management judgment based on the considerationof key factors such as aging profile, future sales projection,estimated future selling prices and selling expenses of therespective inventories.存货的减值准备估计涉及管理层重大判断，该等判断需考虑库龄结构、未来销售预测、预估未来售价以及销售开支等关键因素。We considered this is a key audit matter because theimpairment assessment involved significant management’sjudgement.鉴于减值评估涉及管理层重大判断，我们认为这是一个关键审计事项。We have performed the following procedures to address thiskey audit matter:我们为处理这一关键审计事项执行了以下程序：• We assessed the inherent risk of material misstatement byconsidering the degree of estimation uncertainty and levelof other inherent risk factors；•我们考虑了估计的不确定性和其他固有风险因素的水准，以评估重大错报的固有风险；• We understood and evaluated management’s internalcontrol and assessment process of impairment provisionfor inventories and tested the key controls overmanagement’s estimation of impairment provision forinventories;•我们了解并评价了管理层对存货减值准备的内部控制和评估过程，测试了管理层对存货减值准备估计的关键控制；• We discussed with management and evaluated theappropriateness of the method and assumptions used inimpairment provision for inventories;•我们与管理层讨论并评估了存货减值准备所使用的方法和假设的适当性；• We evaluated the outcome of prior period assessmentof impairment provision for inventories to assess theeffectiveness of management’s estimation process;•我们对以前期间存货减值准备的评估结果进行了评价，以衡量管理层估计过程的有效性；关键审计事项（续）我们在审计中识别的关键审计事项是关于存货减值准备。
二零二三年年报ANNUAL REPORT 2023175INDEPENDENT AUDITOR’S REPORT独立核数师报告Key Audit Matter关键审计事项How our audit addressed the Key Audit Matter我们的审计如何处理关键审计事项• We tested the aging profile of inventories items on asample basis by checking to relevant documents includinggoods receipt notes;•通过与相关单据（包括收货单）核对，我们在抽样的基础上对存货的库龄结构进行了测试；• We compared the carrying amount of the inventories, ona sample basis, to their net realisable value through reviewof sales subsequent to the year end.•我们通过对年末以后的销售情况进行审查，在抽样的基础上将存货的账面价值与可变现净值进行了比较；• We assessed the reasonableness of methods andassumptions applied to the provisions by challengingmanagement’s future sales projection, estimated futureselling prices and selling expenses, with reference toindustry trend, approved budget developed based onhistorical data and actual sales subsequent to the year end;•我们通过质疑管理层的未来销售预测、未来销售价格和销售费用的估计（参考行业趋势）、根据历史资料制定的经审批预算及年结日后的实际销售，评估拨备方法和假设的合理性；• We checked the mathematical accuracy of the calculationof the provision for inventories;•我们检查了存货减值准备计算的准确性；• We observed the physical condition of inventories duringstocktake to identify if any inventories were damaged,or obsolete and inquired management if appropriateinventories provision has been made.•我们在存货盘点期间查看了存货的物理状况，以确定存货是否出现损坏或报废，并询问管理层是否已作出适当的存货减值准备。We found the assumptions adopted and judgment applied bymanagement in the determination of impairment provision forinventories were supported by the evidence we gathered.我们认为，管理层在确定存货减值准备时采用的假设和运用的判断均有据可依。KEY AUDIT MATTERS(continued)关键审计事项（续）
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司176INDEPENDENT AUDITOR’S REPORT独立核数师报告OTHER INFORMATIONThe directors of the Company are responsible for the other information. Theother information comprises all of the information included in 2023 annualreport of POP MART INTERNATIONAL GROUP LIMITED (the“Annual Report”)other than the consolidated financial statements and our auditor’s reportthereon. We have obtained some of the other information including theManagement Discussion and Analysis prior to the date of this auditor’s report.The remaining other information, including the Financial Summary, Report ofDirectors, Chairman’s Statement, Corporate Governance Report, Biographiesof Directors and Senior Management, Environmental, Social and GovernanceReport, is expected to be made available to us after that date.Our opinion on the consolidated financial statements does not coverthe other information and we and will not express any form of assuranceconclusion thereon.In connection with our audit of the consolidated financial statements, ourresponsibility is to read the other information identified above and, in doingso, consider whether the other information is materially inconsistent with theconsolidated financial statements or our knowledge obtained in the audit, orotherwise appears to be materially misstated.If, based on the work we have performed on the other information that weobtained prior to the date of this auditor’s report, we conclude that there isa material misstatement of this other information, we are required to reportthat fact. We have nothing to report in this regard.When we read the remaining other information to be included in theAnnual Report, if we conclude that there is a material misstatement therein,we are required to communicate the matter to Audit Committee and takeappropriate action considering our legal rights and obligations.其他信息贵公司董事须对其他信息负责。其他信息包括刊载于泡泡玛特国际集团有限公司2023年年报「年报」）内的所有信息，但不包括综合财务报表及我们的核数师报告。我们已取得部分其他信息，包括我们在本核数师报告日前取得的管理层讨论与分析。余下其他信息（包括财务概要、董事会报告、董事长致辞、企业管治报告、董事及高级管理层履历以及环境、社会及管治报告）预期会在本核数师报告日后取得。我们对综合财务报表的意见并不涵盖其他信息，我们既不也将不对该等其他信息发表任何形式的鉴证结论。结合我们对综合财务报表的审计，我们的责任是阅读上述其他信息，在此过程中，考虑其他信息是否与综合财务报表或我们在审计过程中所了解的情况存在重大抵触或者似乎存在重大错误陈述的情况。基于我们对在本核数师报告日前取得的其他信息所执行的工作，如果我们认为其他信息存在重大错误陈述，我们需要报告该事实。在这方面，我们没有任何报告。当我们阅读年报内所载其余其他信息后，如果我们认为其中存在重大错误陈述，我们需要将有关事项与审计委员会沟通，并考虑我们的法律权利和义务后采取适当行动。
二零二三年年报ANNUAL REPORT 2023177INDEPENDENT AUDITOR’S REPORT独立核数师报告董事及审计委员会就综合财务报表须承担的责任贵公司董事须负责根据《国际财务报告准则》及香港《公司条例》的披露规定拟备真实而中肯的综合财务报表，并对其认为为使综合财务报表的拟备不存在由于欺诈或错误而导致的重大错误陈述所需的内部控制负责。在拟备综合财务报表时，董事负责评估贵集团持续经营的能力，并在适用情况下披露与持续经营有关的事项，以及使用持续经营为会计基础，除非董事有意将贵集团清盘或停止经营，或别无其他实际的替代方案。审计委员会须负责监督贵集团的财务报告过程。核数师就审计综合财务报表承担的责任我们的目标，是对综合财务报表整体是否不存在由于欺诈或错误而导致的重大错误陈述取得合理保证，并出具包括我们意见的核数师报告。我们仅向阁下（作为整体）报告我们的意见，除此之外本报告别无其他目的。我们不会就本报告的内容向任何其他人士负上或承担任何责任。合理保证是高水平的保证，但不能保证按照《国际审计准则》进行的审计，在某一重大错误陈述存在时总能发现。错误陈述可以由欺诈或错误引起，如果合理预期它们单独或汇总起来可能影响综合财务报表使用者依赖综合财务报表所作出的经济决定，则有关的错误陈述可被视作重大。RESPONSIBILITIES OF DIRECTORS AND THE AUDITCOMMITTEE FOR THE CONSOLIDATED FINANCIALSTATEMENTSThe directors of the Company are responsible for the preparation of theconsolidated financial statements that give a true and fair view in accordancewith IFRS Accounting Standards and the disclosure requirements of the HongKong Companies Ordinance, and for such internal control as the directorsdetermine is necessary to enable the preparation of consolidated financialstatements that are free from material misstatement, whether due to fraud orerror.In preparing the consolidated financial statements, the directors areresponsible for assessing the Group’s ability to continue as a going concern,disclosing, as applicable, matters related to going concern and using thegoing concern basis of accounting unless the directors either intend toliquidate the Group or to cease operations, or have no realistic alternative butto do so.The Audit Committee is responsible for overseeing the Group’s financialreporting process.AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OFTHE CONSOLIDATED FINANCIAL STATEMENTSOur objectives are to obtain reasonable assurance about whether theconsolidated financial statements as a whole are free from materialmisstatement, whether due to fraud or error, and to issue an auditor’sreport that includes our opinion. We report our opinion solely to you, as abody, and for no other purpose. We do not assume responsibility towardsor accept liability to any other person for the contents of this report.Reasonable assurance is a high level of assurance, but is not a guarantee thatan audit conducted in accordance with ISAs will always detect a materialmisstatement when it exists. Misstatements can arise from fraud or errorand are considered material if, individually or in the aggregate, they couldreasonably be expected to influence the economic decisions of users takenon the basis of these consolidated financial statements.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司178INDEPENDENT AUDITOR’S REPORT独立核数师报告核数师就审计综合财务报表承担的责任（续）在根据《国际审计准则》进行审计的过程中，我们运用了专业判断，保持了专业怀疑态度。我们亦：•识别和评估由于欺诈或错误而导致综合财务报表存在重大错误陈述的风险，设计及执行审计程序以应对这些风险，以及获取充足和适当的审计凭证，作为我们意见的基础。由于欺诈可能涉及串谋、伪造、蓄意遗漏、虚假陈述，或凌驾于内部控制之上，因此未能发现因欺诈而导致的重大错误陈述的风险高于未能发现因错误而导致的重大错误陈述的风险。•了解与审计相关的内部控制，以设计适当的审计程序，但目的并非对贵集团内部控制的有效性发表意见。•评价董事所采用会计政策的恰当性及作出会计估计和相关披露的合理性。•对董事采用持续经营会计基础的恰当性作出结论。根据所获取的审计凭证，确定是否存在与事项或情况有关的重大不确定性，从而可能导致对贵集团的持续经营能力产生重大疑虑。如果我们认为存在重大不确定性，则有必要在核数师报告中提请使用者注意综合财务报表中的相关披露。假若有关的披露不足，则我们应当发表非无保留意见。我们的结论是基于核数师报告日止所取得的审计凭证。然而，未来事项或情况可能导致贵集团不能持续经营。•评价综合财务报表的整体列报方式、结构和内容，包括披露，以及综合财务报表是否中肯反映交易和事项。AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OFTHE CONSOLIDATED FINANCIAL STATEMENTS(continued)As part of an audit in accordance with ISAs, we exercise professionaljudgment and maintain professional scepticism throughout the audit. Wealso:• Identify and assess the risks of material misstatement of the consolidatedfinancial statements, whether due to fraud or error, design and performaudit procedures responsive to those risks, and obtain audit evidencethat is sufficient and appropriate to provide a basis for our opinion. Therisk of not detecting a material misstatement resulting from fraud ishigher than for one resulting from error, as fraud may involve collusion,forgery, intentional omissions, misrepresentations, or the override ofinternal control.• Obtain an understanding of internal control relevant to the audit in orderto design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness ofthe Group’s internal control.• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made bythe directors.• Conclude on the appropriateness of the directors’use of the goingconcern basis of accounting and, based on the audit evidence obtained,whether a material uncertainty exists related to events or conditionsthat may cast significant doubt on the Group’s ability to continue asa going concern. If we conclude that a material uncertainty exists,we are required to draw attention in our auditor’s report to therelated disclosures in the consolidated financial statements or, if suchdisclosures are inadequate, to modify our opinion. Our conclusions arebased on the audit evidence obtained up to the date of our auditor’sreport. However, future events or conditions may cause the Group tocease to continue as a going concern.• Evaluate the overall presentation, structure and content of theconsolidated financial statements, including the disclosures, andwhether the consolidated financial statements represent the underlyingtransactions and events in a manner that achieves fair presentation.
二零二三年年报ANNUAL REPORT 2023179INDEPENDENT AUDITOR’S REPORT独立核数师报告核数师就审计综合财务报表承担的责任（续）•就贵集团内实体或业务活动的财务信息获取充足、适当的审计凭证，以便对综合财务报表发表意见。我们负责贵集团审计的方向、监督和执行。我们为审计意见承担全部责任。除其他事项外，我们与审计委员会沟通了计划的审计范围、时间安排、重大审计发现等，包括我们在审计中识别出内部控制的任何重大缺陷。我们还向审计委员会提交声明，说明我们已符合有关独立性的相关专业道德要求，并与他们沟通有可能合理地被认为会影响我们独立性的所有关系和其他事项，以及在适用的情况下，用以消除对独立性产生威胁的行动或采取的防范措施。从与审计委员会沟通的事项中，我们确定哪些事项对本期综合财务报表的审计最为重要，因而构成关键审计事项。我们在核数师报告中描述这些事项，除非法律法规不允许公开披露这些事项，或在极端罕见的情况下，如果合理预期在我们报告中沟通某事项造成的负面后果超过产生的公众利益，我们决定不应在报告中沟通该事项。出具本独立核数师报告的审计项目合伙人是袁国新。罗兵咸永道会计师事务所执业会计师香港，2024年3月20日AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OFTHE CONSOLIDATED FINANCIAL STATEMENTS(continued)• Obtain sufficient appropriate audit evidence regarding the financialinformation of the entities or business activities within the Group toexpress an opinion on the consolidated financial statements. We areresponsible for the direction, supervision and performance of the groupaudit. We remain solely responsible for our audit opinion.We communicate with the Audit Committee regarding, among other matters,the planned scope and timing of the audit and significant audit findings,including any significant deficiencies in internal control that we identifyduring our audit.We also provide the Audit Committee with a statement that we havecomplied with relevant ethical requirements regarding independence, andto communicate with them all relationships and other matters that mayreasonably be thought to bear on our independence, and where applicable,actions taken to eliminate threats or safeguards applied.From the matters communicated with the Audit Committee, we determinethose matters that were of most significance in the audit of the consolidatedfinancial statements of the current period and are therefore the key auditmatters. We describe these matters in our auditor’s report unless lawor regulation precludes public disclosure about the matter or when, inextremely rare circumstances, we determine that a matter should not becommunicated in our report because the adverse consequences of doing sowould reasonably be expected to outweigh the public interest benefits ofsuch communication.The engagement partner on the audit resulting in this independent auditor’sreport is Yuen Kwok Sun.PricewaterhouseCoopersCertified Public AccountantsHong Kong, 20 March 2024
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司180CONSOLIDATED STATEMENT OF PROFIT OR LOSSAND OTHER COMPREHENSIVE INCOME综合损益及其他全面收益表Year ended 31 December截至12月31日止年度202320222023年2022年NoteRMB’000RMB’000附注人民币千元人民币千元Revenue收益66,301,0024,617,324Cost of sales销售成本7(2,436,931)(1,962,781)Gross profit毛利3,864,0712,654,543Distribution and selling expenses经销及销售开支7(2,004,706)(1,470,753)General and administrative expenses一般及行政开支7(707,300)(686,280)Provision for impairment losson financial assets金融资产减值亏损拨备(745)(4,500)Other income其他收入874,90045,572Other gains – net其他收益－净额94,42644,798Operating profit经营溢利1,230,646583,380Finance income财务收入10184,21767,682Finance expenses财务开支10(32,337)(38,579)Finance income – net财务收入－净额10151,88029,103Share of profit of investments accountedfor using the equity method分占使用权益法入账的投资溢利1833,22927,046Profit before income tax除所得税前溢利1,415,755639,529Income tax expense所得税开支11(326,984)(163,728)Profit for the year年内溢利1,088,771475,801Profit is attributable to:以下应占溢利：– Owners of the Company－本公司拥有人1,082,344475,660– Non-controlling interests－非控股权益6,4271411,088,771475,801
二零二三年年报ANNUAL REPORT 2023181CONSOLIDATED STATEMENT OF PROFIT OR LOSSAND OTHER COMPREHENSIVE INCOME综合损益及其他全面收益表Year ended 31 December截至12月31日止年度202320222023年2022年NoteRMB’000RMB’000附注人民币千元人民币千元Other comprehensive income其他全面收益Items that may be reclassified to profit or loss可能重新分类至损益的项目– Currency translation differences－货币换算差额3,96231,397Items that will not be reclassified toprofit or loss将不会重新分类至损益的项目– Currency translation differences－货币换算差额71,144379,648Other comprehensive income for the year,net of tax年内其他全面收益，除税后75,106411,045Total comprehensive income for the year年内全面收益总额1,163,877886,846Total comprehensive income for the yearattributable to:以下应占年内全面收益总额：– Owners of the Company－本公司拥有人1,157,468886,633– Non-controlling interests－非控股权益6,4092131,163,877886,846Earnings per share for profit attributableto owners of the Company本公司拥有人应占溢利的每股盈利– Basic (expressed in RMB per share)－基本（以每股人民币元表示）130.810.35– Diluted (expressed in RMB per share)－摊薄（以每股人民币元表示）130.810.35The above consolidated statement of profit or loss and other comprehensiveincome should be read in conjunction with the accompanying notes.以上综合损益及其他全面收益表应与随附附注一并阅读。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司182CONSOLIDATED BALANCE SHEET综合资产负债表As at 31 December于12月31日202320222023年2022年NoteRMB’000RMB’000附注人民币千元人民币千元Assets资产Non-current assets非流动资产Property, plant and equipment物业、厂房及设备14653,278448,884Intangible assets无形资产15115,888146,507Right-of-use assets使用权资产16726,053701,627Investments accounted for usingthe equity method使用权益法入账的投资18107,00183,333Financial assets at fair value throughprofit or loss按公平值计入损益的金融资产23471,769459,034Prepayments and other receivables预付款项及其他应收款项21127,98944,165Deferred income tax assets递延所得税资产1983,41680,977Total non-current assets总非流动资产2,285,3941,964,527Current assets流动资产Trade receivables贸易应收款项20321,337194,369Inventories存货22904,708866,985Prepayments and other receivables预付款项及其他应收款项21467,561486,553Financial assets at fair value throughprofit or loss按公平值计入损益的金融资产238,41512,829Restricted cash受限制现金2418,15913,265Term deposits with initial term overthree months and within one year初步为期三个月以上及一年以内的定期存款243,885,3624,356,220Cash and cash equivalents现金及现金等价物242,077,927685,314Total current assets总流动资产7,683,4696,615,535Total assets总资产9,968,8638,580,062
二零二三年年报ANNUAL REPORT 2023183CONSOLIDATED BALANCE SHEET综合资产负债表As at 31 December于12月31日202320222023年2022年NoteRMB’000RMB’000附注人民币千元人民币千元Equity权益Share capital股本25885908Shares held for share award scheme就股份奖励计划持有的股份26(12)(14)Other reserves其他储备274,438,4484,693,043Retained earnings保留盈利3,330,6062,269,351Equity attributable to owners ofthe Company本公司拥有人应占权益7,769,9276,963,288Non-controlling interests in equity非控股权益10,4552,037Total equity总权益7,780,3826,965,325Liabilities负债Non-current liabilities非流动负债License fees payables应付授权费3014,80721,306Lease liabilities租赁负债16425,954447,564Deferred income tax liabilities递延所得税负债1914,41915,120Total non-current liabilities总非流动负债455,180483,990Current liabilities流动负债Trade payables贸易应付款项29444,944259,006License fees payables应付授权费30179,393133,517Other payables其他应付款项31514,841308,791Contract liabilities合约负债32112,14388,797Borrowing借款34(c)15,058–Lease liabilities租赁负债16351,799293,567Current income tax liabilities即期所得税负债115,12347,069Total current liabilities总流动负债1,733,3011,130,747Total liabilities总负债2,188,4811,614,737Total equity and liabilities总权益及负债9,968,8638,580,062
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司184CONSOLIDATED BALANCE SHEET综合资产负债表以上综合资产负债表应与随附附注一并阅读。第180页至第318页的财务报表于2024年3月20日获董事会批准，并由下列董事代表签署。The above consolidated balance sheet should be read in conjunction withthe accompanying notes.The financial statements on pages 180 to 318 were approved by the Board ofDirectors on 20 March 2024 and were signed on its behalf.Executive Director & Chairman执行董事及主席Executive Director执行董事
二零二三年年报ANNUAL REPORT 2023185CONSOLIDATED STATEMENT OFCHANGES IN EQUITY综合权益变动表Attributable to owners of the CompanyNon-controllinginterestsTotal本公司拥有人应占SharecapitalShares heldfor ShareAwardSchemeOtherreservesRetainedearningsSubtotal股本就股份奖励计划持有的股份其他储备保留盈利小计非控股权益合计(Note 25)(Note 26)(Note 27)（附注25）（附注26）（附注27）NoteRMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000附注人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元Balance at 1 January 2023于2023年1月1日的结余908(14)4,693,0432,269,3516,963,2882,0376,965,325Comprehensive income全面收益Profit for the year年内溢利–––1,082,3441,082,3446,4271,088,771Other comprehensive income其他全面收益Currency translation difference货币换算差额––75,124–75,124(18)75,106Total comprehensive income全面收益总额––75,1241,082,3441,157,4686,4091,163,877Transaction with owners与拥有人的交易Purchase of own shares回购自身股份25, 27––(333,709)–(333,709)–(333,709)Cancellation of shares注销股份25, 27(23)–23––––Non-controlling interests arising onnewly established and acquiredsubsidiaries新成立及收购的附属公司产生的非控股权益–––––5,2715,271Acquisition of non-controllinginterests on a subsidiary收购一间附属公司非控股权益––(1,551)–(1,551)(3,262)(4,813)Appropriation to statutory reserves拨入法定储备––21,089(21,089)–––Dividends declared宣派的股息––(117,317)–(117,317)–(117,317)Share vested under the ShareAward Scheme根据股份奖励计划归属之股份28–2(2)––––Share-based compensation expenses以股份为基础的报酬开支28––101,748–101,748–101,748Total transaction with owners与拥有人的交易总额(23)2(329,719)(21,089)(350,829)2,009(348,820)Balance at 31 December 2023于2023年12月31日的结余885(12)4,438,4483,330,6067,769,92710,4557,780,382
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司186CONSOLIDATED STATEMENT OFCHANGES IN EQUITY综合权益变动表Attributable to owners of the CompanyNon-controllinginterestsTotal本公司拥有人应占SharecapitalShares heldfor ShareAwardSchemeOtherreservesRetainedearningsSubtotal股本就股份奖励计划持有的股份其他储备保留盈利小计非控股权益合计(Note 25)(Note 26)(Note 27)（附注25）（附注26）（附注27）NoteRMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000附注人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元Balance at 1 January 2022于2022年1月1日的结余923(15)5,023,5831,793,6916,818,1821,8246,820,006Comprehensive income全面收益Profit for the year年内溢利–––475,660475,660141475,801Other comprehensive income其他全面收益Currency translation difference货币换算差额––410,973–410,97372411,045Total comprehensive income全面收益总额––410,973475,660886,633213886,846Transaction with owners与拥有人的交易Purchase of own shares回购自身股份25, 27––(634,310)–(634,310)–(634,310)Cancellation of shares注销股份25, 27(15)–15––––Dividends declared宣派的股息––(209,490)–(209,490)–(209,490)Share vested under the ShareAward Scheme根据股份奖励计划归属之股份28–1(1)––––Share-based compensation expenses以股份为基础的报酬开支28––102,273–102,273–102,273Total transaction with owners与拥有人的交易总额(15)1(741,513)–(741,527)–(741,527)Balance at 31 December 2022于2022年12月31日的结余908(14)4,693,0432,269,3516,963,2882,0376,965,325The above consolidated statement of changes in equity should be read inconjunction with the accompanying notes.以上综合权益变动表应与随附附注一并阅读。
二零二三年年报ANNUAL REPORT 2023187CONSOLIDATED STATEMENT OFCASH FLOWS综合现金流量表Year ended 31 December截至12月31日止年度202320222023年2022年NoteRMB’000RMB’000附注人民币千元人民币千元Cash flows from operating activities经营活动产生的现金流量Cash generated from operations经营所得现金34(a)2,143,2081,133,500Interest received已收利息109,4571,656Income tax paid已付所得税(262,069)(244,134)Net cash generated fromoperating activities经营活动所得现金净额1,990,596891,022Cash flows from investing activities投资活动产生的现金流量Increase in financial assets at fair valuethrough profit or loss按公平值计入损益的金融资产增加3.3(a)(812,601)(1,515,016)Purchases of property, plant and equipment购买物业、厂房及设备(324,179)(266,132)Purchases of intangible assets购买无形资产(68,287)(81,491)Proceeds from disposal of financial assetsat fair value through profit or loss处置按公平值计入损益的金融资产所得款项3.3(a)810,2361,443,524Dividends received from an associate收到一间联营公司股息8,8608,538Proceeds from sale of property, plant andequipment, intangible assets出售物业、厂房及设备、无形资产所得款项34(b)8662,363Acquisition of subsidiaries, net of cash acquired收购附属公司，扣除收购现金6,491–Placement of term deposits with initial termsover three months and within one year存入初步为期三个月以上及一年以内的定期存款(8,528,257)(4,290,194)Redemption of term deposits with initial termsover three months and within one year赎回初步为期三个月以上及一年以内的定期存款9,140,811–Net cash generated from/(used in)investing activities投资活动产生╱（所用）现金净额233,940(4,698,408)
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司188CONSOLIDATED STATEMENT OFCASH FLOWS综合现金流量表Year ended 31 December截至12月31日止年度202320222023年2022年NoteRMB’000RMB’000附注人民币千元人民币千元Cash flows from financing activities融资活动产生的现金流量Payment of lease liabilities租赁负债付款16, 34(c)(384,999)(323,041)Dividends paid已付股息34(c)(121,609)(220,086)Payments for purchase of own shares回购自身股份付款25(333,709)(634,310)Consideration paid in relation to acquisition ofnon-controlling interests on a subsidiary就收购一间附属公司非控股权益支付的代价(4,813)–Capital injection from non-controlling interestson a newly established subsidiary非控股权益就新成立附属公司注资3,573–Net cash used in financing activities融资活动所用现金净额(841,557)(1,177,437)Net increase/(decrease) in cash and cashequivalents现金及现金等价物增加╱（减少）净额1,382,979(4,984,823)Cash and cash equivalents atbeginning of the year年初的现金及现金等价物685,3145,264,710Exchange gains on cash and cash equivalents现金及现金等价物的汇兑收益9,634405,427Cash and cash equivalents at end ofthe year年末的现金及现金等价物2,077,927685,314
二零二三年年报ANNUAL REPORT 2023189NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注1一般资料泡泡玛特国际集团有限公司（「本公司」）于2019年5月9日根据开曼群岛公司法第22章（1961年第3号法例，经综合及修订）在开曼群岛注册成立为获豁免有限公司。本公司注册办事处的地址为P.O. Box 309, UglandHouse, Grand Cayman, KY1-1104, CaymanIslands。本公司为投资控股公司，其附属公司主要于中华人民共和国（「中国」）及若干海外国家及地区从事潮流玩具的产品设计与开发及销售。本公司的最终控股公司为GWFHolding Limited（前称为Grant Wang HoldingLimited），由王宁先生及其配偶杨涛女士控制。于2020年12月11日，本公司成功在香港联合交易所有限公司（「联交所」）主板上市。除非另有说明，否则本综合财务报表以人民币（「人民币」）呈列。本综合财务报表已于2024年3月20日经董事会批准刊发。1 GENERAL INFORMATIONPOP MART INTERNATIONAL GROUP LIMITED (the“Company”) wasincorporated in the Cayman Islands on 9 May 2019 as an exemptedcompany with limited liability under the Companies Law (Cap. 22, Law 3of 1961 as consolidated and revised) of the Cayman Islands. The addressof the Company’s registered office is P.O. Box 309, Ugland House, GrandCayman, KY1-1104, Cayman Islands.The Company is an investment holding company and its subsidiaries areprincipally engaged in the product design and development and saleof pop toys in the People’s Republic of China (the“PRC”) and certainoverseas countries and regions. The ultimate holding company of theCompany is GWF Holding Limited (formerly known as Grant WangHolding Limited), which is controlled by Mr. Wang Ning and his spouse,Ms. Yang Tao.On 11 December 2020, the Company has successfully listed on theMain Board of The Stock Exchange of Hong Kong Limited (the“StockExchange”).These consolidated financial statements are presented in Renminbi(“RMB”), unless otherwise stated.These consolidated financial statements have been approved for issueby the Board of Directors on 20 March 2024.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司190NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要编制本综合财务报表时所采纳的会计政策载列如下。除另有所指外，该等会计政策于所有呈列年度一直贯彻应用。综合财务报表乃为本集团（由本公司及其附属公司组成）所编制。2.1重大会计政策概要(a)编制基准(i)遵守国际财务报告会计准则及香港公司条例本集团的综合财务报表乃根据国际财务报告会计准则及第622章香港公司条例（「香港公司条例」）的披露规定所编制。国际财务报告会计准则包括以下权威文献：•国际财务报告会计准则•国际会计准则•国际财务报告准则诠释委员会制定的诠释（国际财务报告准则诠释委员会诠释）或其前身机构常设诠释委员会制定的诠释（常设诠释委员会诠释）。(ii)历史成本法综合财务报表乃根据历史成本法编制，并根据按公平值计入损益的金融资产的重估（按公平值列账）作出修订。2 SUMMARY OF ACCOUNTING POLICIESThe accounting policies adopted in the preparation of theseconsolidated financial statements are set out below. These policies havebeen consistently applied to all the year presented, unless otherwisestated. The consolidated financial statements are for the Groupconsisting of the Company and its subsidiaries.2.1 Summary of material accounting policies(a) Basis of preparation(i) Compliance with IFRS Accounting Standards and HKCOThe consolidated financial statements of the Group have beenprepared in accordance with IFRS Accounting Standards andthe disclosure requirements of the Hong Kong CompaniesOrdinance (“HKCO”) Cap. 622. IFRS Accounting Standardscomprise the following authoritative literature:• IFRS Accounting Standards• IAS Standards• Interpretations developed by the IFRS InterpretationsCommittee (IFRIC Interpretations) or its predecessorbody, the Standing Interpretations Committee (SICInterpretations).(ii) Historical cost conventionThe consolidated financial statements have been preparedunder the historical cost convention, as modified by therevaluation of financial assets at fair value through profit or losswhich are carried at fair value.
二零二三年年报ANNUAL REPORT 2023191NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(a)编制基准（续）(iii)本集团采纳的新订及经修订准则本集团于2023年1月1日开始的年度报告期间首次应用下列新订及经修订准则：国际会计准则第8号修订会计估计之定义国际会计准则第1号及国际财务报告准则实务声明第2号修订会计政策之披露国际会计准则第12号修订国际税务改革－支柱二立法范本国际会计准则第12号修订与单一交易产生的资产及负债相关的递延税项国际财务报告准则第17号保险合同上述新订及经修订准则对过往期间确认的金额并无任何影响，预计不会对当前或未来期间产生重大影响。(iv)尚未采纳的准则的新修订若干会计准则的修订于2023年12月31日之报告期内已颁布但并非强制执行，且并未获本集团提早采纳。预期该等修订不会于本报告期间或未来报告期间对本集团以及可预见的未来交易产生重大影响。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(a) Basis of preparation(continued)(iii) New and amended standards adopted by the GroupThe Group has applied the following new and amendedstandards for the first time for their annual reporting periodcommencing 1 January 2023:Amendments to IAS 8Definition of AccountingEstimatesAmendments to IAS 1 andIFRS Practice Statement 2Disclosure of AccountingPoliciesAmendments to IAS 12International Tax Reform –Pillar Two Model RulesAmendments to IAS 12Deferred Tax related to Assetsand Liabilities arising froma Single TransactionIFRS 17Insurance ContractsThe new and amended standards listed above did not haveany impact on the amounts recognised in prior periods andare not expected to significantly affect the current or futureperiods.(iv) New amendments to standards not yet adoptedCertain amendments to accounting standards have beenpublished but are not mandatory for 31 December 2023reporting period and have not been early adopted by theGroup. These amendments are not expected to have a materialimpact on the Group in the current or future reporting periodsand on foreseeable future transactions.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司192NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(a)编制基准（续）(iv)尚未采纳的准则的新修订（续）2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(a) Basis of preparation(continued)(iv) New amendments to standards not yet adopted(continued)AmendmentsEffective date修订生效日期Amendments to IAS 1Classification of liabilities as current or non-currentAnnual periods beginning onor after 1 January 2024国际会计准则第1号修订负债分类为流动或非流动2024年1月1日或之后开始的年度期间Amendments to IAS 1Non-current liabilities with covenantsAnnual periods beginning onor after 1 January 2024国际会计准则第1号修订附带契诺的非流动负债2024年1月1日或之后开始的年度期间Amendments to IFRS 16Lease Liability in a Sale and LeasebackAnnual periods beginning onor after 1 January 2024国际财务报告准则第16号修订售后回租中的租赁负债2024年1月1日或之后开始的年度期间Amendments to IAS 7 and IFRS 7Supplier finance arrangementsAnnual periods beginning onor after 1 January 2024国际会计准则第7号及国际财务报告准则第7号修订供应商融资安排2024年1月1日或之后开始的年度期间Amendments to IAS 21Lack of ExchangeabilityAnnual periods beginning onor after 1 January 2025国际会计准则第21号修订缺乏可兑换性2025年1月1日或之后开始的年度期间Amendments to IAS 28 and IFRS 10Sale or Contribution of Assets between anInvestor and its Associate or Joint VentureUndetermined国际会计准则第28号及国际财务报告准则第10号修订投资者与其联营公司或合资企业之间的资产出售或出资待定
二零二三年年报ANNUAL REPORT 2023193NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(b)综合账目及权益会计处理原则(i)附属公司附属公司为本集团控制的所有实体（包括结构实体）。倘本集团须承担或享有参与实体所获可变回报的风险及权利，且有能力透过其指导实体活动之权力影响该等回报时，则本集团对该实体拥有控制权。附属公司自控制权转入本集团之日起全面综合入账，自停止控制之日起取消综合入账。公司间交易、集团公司间交易的结余及未变现收益予以对销。除非交易提供所转让资产的减值证据，否则未变现亏损亦将予以对销。附属公司的会计政策已作出必要之更改，以确保与本集团所采纳的政策一致。于附属公司业绩及股权的非控股权益分别于综合损益及其他全面收益表、权益变动表及资产负债表单独列示。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(b) Principles of consolidation and equity accounting(i) SubsidiariesSubsidiaries are all entities (including structured entities) overwhich the Group has control. The Group controls an entitywhen the Group is exposed to, or has rights to, variable returnsfrom its involvement with the entity and has the ability toaffect those returns through its power to direct the activitiesof the entity. Subsidiaries are fully consolidated from thedate on which control is transferred to the Group. They aredeconsolidated from the date that control ceases.Inter-company transactions, balances and unrealised gainson transactions between group companies are eliminated.Unrealised losses are also eliminated unless the transactionprovides evidence of an impairment of the transferred asset.Accounting policies of subsidiaries have been changed wherenecessary to ensure consistency with the policies adopted bythe Group.Non-controlling interests in the results and equity ofsubsidiaries are shown separately in the consolidatedstatement of profit of loss and other comprehensive income,consolidated statement of changes in equity and consolidatedbalance sheet respectively.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司194NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(b)综合账目及权益会计处理原则（续）(i)附属公司（续）通过合约安排控制的附属公司本集团根据合约安排控制一家实体。本集团对结构实体的股权并无合法所有权。尽管如此，根据与结构实体的登记股东订立的合约安排，本公司及其他合法拥有的附属公司透过控制投票权、规管其财务及经营政策、委任或罢免其控制权力部门的大部分成员，以及于有关部门的会议上行使过半数投票权，从而控制结构实体。因此，本集团有权对结构实体行使权力、参与结构实体获得可变回报，因此作为本集团的控制结构实体呈列。(ii)合营安排根据国际财务报告准则第11号合营安排，合营安排的投资分类为合营业务或合营企业。有关分类乃视乎每名投资者的合约权利及责任（而非合营安排的法律结构）而定。本集团已评估其合营安排的性质，并将该等合营安排厘定为合营企业。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(b) Principles of consolidation and equity accounting(continued)(i) Subsidiaries(continued)Subsidiary controlled through contractual arrangementsThere is an entity controlled by the Group under contractualarrangements. The Group does not have legal ownership inequity of the structured entity. Nevertheless, under ContractualArrangement entered into with the registered shareholdersof the structured entity, the Company and its other legallyowned subsidiaries controlled the structured entity by wayof controlling the voting rights, governing its financial andoperating policies, appointing or removing the majority ofmembers of its controlling authorities, and casting the majorityof votes at meetings of such authorities. Accordingly, theGroup has rights to exercise power over the structured entity,receives variable returns from involvement in the structuredentity. As a result, it is presented as a controlled structuredentity of the Group.(ii) Joint arrangementsUnder IFRS 11 Joint Arrangements investments in jointarrangements are classified as either joint operations or jointventures. The classification depends on the contractual rightsand obligations of each investor, rather than the legal structureof the joint arrangement. The Group has assessed the natureof its joint arrangements and determined them to be jointventures.
二零二三年年报ANNUAL REPORT 2023195NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(b)综合账目及权益会计处理原则（续）(ii)合营安排（续）合营企业于合营企业的权益初始按成本于综合资产负债表确认后，使用权益法入账（见下文(iv)）。(iii)联营公司联营公司指本集团对其有重大影响力而无控制权或共同控制权的所有实体，通常情况乃本集团持有20%至50%表决权。于联营公司中以普通股形式的投资于联营公司中普通股形式的投资初始按成本确认后，使用权益会计法入账（见下文(iv)）。于联营公司中以附带优先权的普通股或可转换可赎回优先股形式的投资于联营公司中以附带优先权的普通股或可转换可赎回优先股形式的投资按公平值计量且其变动计入当期损益的金融资产入账（附注2.1(f)）。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(b) Principles of consolidation and equity accounting(continued)(ii) Joint arrangements(continued)Joint venturesInterests in joint ventures are accounted for using the equitymethod (see (iv) below), after initially being recognised at costin the consolidated balance sheet.(iii) AssociatesAssociates are all entities over which the Group has significantinfluence but not control or joint control. This is generally thecase where the Group holds between 20% and 50% of thevoting rights.Investments in associates in the form of ordinary sharesInvestments in associates in the form of ordinary shares areaccounted for using the equity method of accounting (see (iv)below), after initially being recognised at cost.Investments in associates in the form of ordinary shares withpreferential rights or convertible redeemable preferred sharesInvestments in associates in the form of ordinary shareswith preferential rights or convertible redeemable preferredshares are accounted as financial assets measured at fair valuethrough profit or loss (Note 2.1(f)).
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司196NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(b)综合账目及权益会计处理原则（续）(iv)权益法根据权益会计法，投资初步按成本确认，其后进行调整以确认本集团在损益中分占被投资方的收购后损益，以及本集团在其他全面收益中分占被投资方的其他全面收益变动。已收或应收合营企业股息确认为投资账面值的减少。如本集团分占以权益入账投资亏损等于或超过其于实体中的权益（包括任何其他无抵押长期应收款项），本集团不会确认进一步亏损，除非其已产生责任或代表其他实体作出付款则例外。本集团与其合营企业间交易的未变现收益以本集团于该等实体的权益为限予以对销。除非交易提供所转移资产的减值证据，否则未变现亏损亦将予以对销。以权益入账被投资方的会计政策已作出必要之更改，以确保与本集团所采纳的政策一致。以权益入账投资的账面值按照附注2.1(e)中所述的政策进行减值测试。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(b) Principles of consolidation and equity accounting(continued)(iv) Equity methodUnder the equity method of accounting, the investments areinitially recognised at cost and adjusted thereafter to recognisethe Group’s share of the post-acquisition profits or losses of theinvestee in profit or loss, and the Group’s share of movementsin other comprehensive income of the investee in othercomprehensive income. Dividends received or receivable fromjoint ventures are recognised as a reduction in the carryingamount of the investment.Where the Group’s share of losses in an equity-accountedinvestment equals or exceeds its interest in the entity,including any other unsecured long-term receivables, theGroup does not recognise further losses, unless it has incurredobligations or made payments on behalf of the other entity.Unrealised gains on transactions between the Group and itsjoint ventures and associates are eliminated to the extent ofthe Group’s interest in these entities. Unrealised losses arealso eliminated unless the transaction provides evidence ofan impairment of the asset transferred. Accounting policiesof equity-accounted investees have been changed wherenecessary to ensure consistency with the policies adopted bythe Group.The carrying amount of equity-accounted investments is testedfor impairment in accordance with the policy described inNote 2.1(e).
二零二三年年报ANNUAL REPORT 2023197NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(b)综合账目及权益会计处理原则（续）(v)拥有权权益变动本集团将不会引致失去控制权的非控股权益交易视为与本集团权益持有人的交易。拥有权权益变动导致控股权益与非控股权益账面值之间之调整以反映彼等于附属公司之相对权益。非控股权益调整数额与任何已付或已收代价间之任何差额于本公司权益持有人应占权益中之单独储备项目内确认。倘本集团因丧失控制权、共同控制权或重大影响力而终止就投资合并入账或按权益入账，其于该实体之任何保留权益按其公平值重新计量，而账面值变动则于损益内确认。就随后入账列作于联营公司、合营企业或金融资产之保留权益而言，公平值成为初步账面值。此外，先前于其他综合收益内确认与该实体有关的任何金额按犹如本集团已直接出售有关资产或负债之方式入账。这可能代表先前在其他综合收益内确认之金额重新分类至损益或转拨至适用国际财务报告准则所指╱准许之另一权益类别。倘于一家合营企业或联营公司的拥有权权益减少但保留共同控制权或重大影响力，则先前于其他全面收益确认的金额仅有一定比例份额重新分类至损益（如适用）。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(b) Principles of consolidation and equity accounting(continued)(v) Changes in ownership interestsThe Group treats transactions with non-controlling intereststhat do not result in a loss of control as transactions withequity owners of the Group. A change in ownership interestresults in an adjustment between the carrying amounts ofthe controlling and non-controlling interests to reflect theirrelative interests in the subsidiary. Any difference between theamount of the adjustment to non-controlling interests andany consideration paid or received is recognised in a separatereserve within equity attributable to owners of the Company.When the Group ceases to consolidate or equity accountfor an investment because of a loss of control, joint controlor significant influence, any retained interest in the entityis remeasured to its fair value with the change in carryingamount recognised in profit or loss. This fair value becomesthe initial carrying amount for the purposes of subsequentlyaccounting for the retained interest as an associate, jointventure or financial asset. In addition, any amounts previouslyrecognised in other comprehensive income in respect of thatentity are accounted for as if the group had directly disposedof the related assets or liabilities. This may mean that amountspreviously recognised in other comprehensive income arereclassified to profit or loss or transferred to another categoryof equity as specified/permitted by applicable IFRS AccountingStandards.If the ownership interest in a joint venture or an associate isreduced but joint control or significant influence is retained,only a proportionate share of the amounts previouslyrecognised in other comprehensive income are reclassified toprofit or loss where appropriate.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司198NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(c)外币换算(i)功能及呈列货币本集团各实体的财务报表中所列的项目均以实体营运所在的主要经济环境的货币计量（「功能货币」）。本公司的功能货币为美元（「美元」）。综合财务报表以人民币（「人民币」）呈列，人民币为本公司及本集团之呈列货币。本公司的主要附属公司在中国大陆（「中国大陆」）注册成立，该等附属公司以人民币为其功能货币。部分附属公司可能以其他货币作为其功能货币，例如美元、港元（「港元」）及新加坡元（「新元」）。(ii)交易及结余以外币进行的交易采用交易日期的汇率换算为功能货币。结算该等交易产生的外汇盈亏，及以外币计值的货币性资产及负债以年末的汇率换算所产生的外汇盈亏一般于损益中确认。如该等外汇盈亏与合资格现金流量对冲及合资格净投资对冲有关，或归因于境外业务的部分净投资，则将其于权益中递延。与借款有关的外汇盈亏于综合损益及其他全面收益表内「财务开支－净额」呈列。所有其他外汇盈亏则于综合损益及其他全面收益表内「其他收益－净额」呈列。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(c) Foreign currency translation(i) Functional and presentation currencyItems included in the financial statements of each of theGroup’s entities are measured using the currency of theprimary economic environment in which the entity operates(“the functional currency”). The Company’s functional currencyis United States Dollars (“USD”). The consolidated financialstatements are presented in Renminbi (“RMB”), which isthe Company’s and the Group’s presentation currency. TheCompany’s primary subsidiaries are incorporated in themainland of the PRC (“Mainland China”) and these subsidiariesconsider RMB as their functional currency. Some subsidiariesmay have other currency as their functional currency, such asUSD, Hong Kong Dollars (“HKD”) and Singapore Dollar (“SGD”).(ii) Transactions and balancesForeign currency transactions are translated into the functionalcurrency using the exchange rates at the dates of thetransactions. Foreign exchange gains and losses resulting fromthe settlement of such transactions and from the translationof monetary assets and liabilities denominated in foreigncurrencies at year end exchange rates are generally recognisedin profit or loss. They are deferred in equity if they relate toqualifying cash flow hedges and qualifying net investmenthedges or are attributable to part of the net investment in aforeign operation.Foreign exchange gains and losses that relate to borrowingsare presented in the consolidated statement of profit or lossand other comprehensive income within“finance expenses –net”. All other foreign exchange gains and losses are presentedin the consolidated statement of profit or loss and othercomprehensive income within“Other gains- net”.
二零二三年年报ANNUAL REPORT 2023199NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(c)外币换算（续）(ii)交易及结余（续）以外币为单位按公平值计量之非货币性项目，按照确定公平值当日之汇率换算。按公平值列账的资产及负债之换算差额呈报为公平值收益或亏损之一部分。例如非货币性资产及负债（如按公平值计入损益的金融资产）的换算差额在损益中确认为公平值收益或亏损的一部分。(iii)集团公司功能货币与呈列货币不同的海外业务（均非超高通胀地区之货币）的业绩及财务状况按以下方式换算为呈列货币：•各资产负债表所呈列之资产及负债按结算日的收市汇率换算•各损益及其他全面收益表之收入及开支按平均汇率换算（除非此数值并非该等交易日期适用汇率累计影响的合理约数，否则收入及开支将于交易日期换算），及•产生的所有汇兑差额将于其他全面收益内确认。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(c) Foreign currency translation(continued)(ii) Transactions and balances(continued)Non-monetary items that are measured at fair value in a foreigncurrency are translated using the exchange rates at the datewhen the fair value was determined. Translation differences onassets and liabilities carried at fair value are reported as part ofthe fair value gain or loss. For example, translation differenceson non-monetary assets and liabilities such as financial assetsat fair value through profit or loss are recognised in profit orloss as part of the fair value gain or loss.(iii) Group companiesThe results and financial position of foreign operations (noneof which has the currency of a hyperinflationary economy)that have a functional currency different from the presentationcurrency are translated into the presentation currency asfollows:• assets and liabilities for each balance sheet presented aretranslated at the closing rate at the date of that balancesheet• income and expenses for each statement of profit orloss and other comprehensive income are translated ataverage exchange rates (unless this is not a reasonableapproximation of the cumulative effect of the ratesprevailing on the transaction dates, in which caseincome and expenses are translated at the dates of thetransactions), and• all resulting exchange differences are recognised in othercomprehensive income.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司200NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(c)外币换算（续）(iii)集团公司（续）于综合入账时，换算海外实体任何净投资以及借款及指定作该等投资之对冲的其他金融工具所产生的汇兑差额均于其他全面收益确认。当出售海外业务或偿还构成该净投资部分的任何借款，相关的汇兑差额重新分类至损益，作为出售收益或亏损的一部分。因收购海外业务而产生的商誉及公平值调整，均当作海外业务的资产及负债，并按收市汇率换算。(d)无形资产(i)商誉商誉按附注39(o)所述计量。收购附属公司的商誉计入无形资产。商誉不予摊销，惟每年进行减值测试，或当有事件发生或情况变动显示可能出现减值时进行更频密减值测试，并按成本减去累计减值亏损列账。出售一间实体的收益及亏损包括有关所售实体商誉的账面值。商誉会被分配至现金产生单位以进行减值测试。有关分配乃对预期将从商誉产生的业务合并中获益的现金产生单位或现金产生单位组别作出。现金产生单位或现金产生单位组别乃就内部管理目的而于监察商誉的最低层次（即经营分部）识别。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(c) Foreign currency translation(continued)(iii) Group companies(continued)On consolidation, exchange differences arising from thetranslation of any net investment in foreign entities, andof borrowings and other financial instruments designatedas hedges of such investments, are recognised in othercomprehensive income. When a foreign operation is sold orany borrowings forming part of the net investment are repaid,the associated exchange differences are reclassified to profit orloss, as part of the gain or loss on sale.Goodwill and fair value adjustments arising on the acquisitionof a foreign operation are treated as assets and liabilities of theforeign operation and translated at the closing rate.(d) Intangible assets(i) GoodwillGoodwill is measured as described in Note 39(o). Goodwillon acquisitions of subsidiaries is included in intangible assets.Goodwill is not amortised but it is tested for impairmentannually, or more frequently if events or changes incircumstances indicate that it might be impaired and is carriedat cost less accumulated impairment losses. Gains and losseson the disposal of an entity include the carrying amount ofgoodwill relating to the entity sold.Goodwill is allocated to cash-generating units for the purposeof impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that areexpected to benefit from the business combination in whichthe goodwill arose. The units or groups of units are identifiedat the lowest level at which goodwill is monitored for internalmanagement purposes, being the operating segments.
二零二三年年报ANNUAL REPORT 2023201NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(d)无形资产（续）(ii)软件所购软件根据购买及使用特定软件所产生的成本予以资本化。(iii)知识产权（「IP产权」）所收购IP产权根据收购产生的成本予以资本化。该等IP产权具有有限的可使用年期，随后按成本减累计摊销及减值亏损列账。与购买IP产权有关且视乎销量而定的可变付款于触发该等付款的条件发生期间于损益确认。(iv)特许知识产权（「授权IP」）授权IP的历史成本按各特许权购买日期的固定最低付款的现值计量。特许权按历史成本减累计摊销及累计减值亏损列账。与特许权有关且视乎销量而定的可变付款于触发该等付款的条件发生期间于损益确认。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(d) Intangible assets(continued)(ii) SoftwareAcquired software are capitalised on the basis of the costsincurred to acquire and bring to use the specific software.(iii) Intellectual property rights (“IP Rights”)Acquired IP rights are capitalised on the basis of the costsincurred to acquire. They have a finite useful life and aresubsequently carried at cost less accumulated amortisation andimpairment losses. Variable payments in relation to purchase ofIP rights that depend on sales are recognised in profit or loss inthe period in which the condition that triggers those paymentsoccurs.(iv) Licensed intellectual properties (“Licensed IPs”)The historical costs of licensed IP rights are measured at thepresent values of the fixed minimum payments at the date ofpurchase of the respective license rights. License rights arestated at historical cost less accumulated amortisation andaccumulated impairment losses. Variable payments in relationto license rights that depend on sales are recognised in profitor loss in the period in which the condition that triggers thosepayments occurs.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司202NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(d)无形资产（续）(v)研发成本研究成本于产生期间在损益中确认。仅当满足以下所有条件时，开发成本方予以资本化：•完成该软件使其可供使用在技术上可行•管理层有意完成该软件并使用或出售该软件•有能力使用或出售该软件•能证明该软件如何产生可能出现的未来经济利益•有足够的技术、财务及其他资源完成开发并可使用或出售该软件，及•该软件在开发期内应占支出能可靠地计量。不符合该等标准的其他开发成本于产生时支销。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(d) Intangible assets(continued)(v) Research and development costsResearch cost is recognised in profit or loss in the period inwhich it is incurred. Development cost is capitalised only if allof the following conditions are satisfied:• it is technically feasible to complete the software so that itwill be available for use• management intends to complete the software and use orsell it• there is an ability to use or sell the software• it can be demonstrated how the software will generateprobable future economic benefits• adequate technical, financial and other resources tocomplete the development and to use or sell the softwareare available, and• the expenditure attributable to the software during itsdevelopment can be reliably measured.Other development costs that do not meet those criteria areexpensed as incurred.
二零二三年年报ANNUAL REPORT 2023203NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(d)无形资产（续）(vi)摊销方法及期间本集团采用直线法将可使用年期有限的无形资产按以下期间摊销：软件5年IP产权10年授权IP2-10年本集团根据IP产权及授权IP可为本集团带来经济效益的估计年期估计该等资产的可使用年期。本集团估计主要IP的预期生命周期将超过十年。在与各项收购的IP产权有关的权利当中，商标的有效期为十年且于届满后可予重续，而各IP的专利自申请日期起计十年内有效。就收购的IP产权而言，可使用年期按IP的预期生命周期及十年（即IP产权的主要权利的有效期）中的较短者厘定。就授权IP而言，可使用年期按IP的预期生命周期及各授权协议的合约年期中的较短者厘定（附注4(b)）。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(d) Intangible assets(continued)(vi) Amortisation methods and periodsThe Group amortises intangible assets with a limited useful lifeusing the straight-line method over the following periods:Software5 yearsIP rights10 yearsLicensed IPs2-10 yearsThe Group estimates the useful life of the IP rights andLicensed IPs based on the estimated period during which suchassets can bring economic benefit to the Group. The Groupestimates the expected lifecycle of major IPs will be more than10 years. Among the rights relating to each of the acquired IPrights,trademark has a term of validity of 10 years and is subjectto renewal after its expiration, and patents for each IP are validfor 10 years from the date of application. For acquired IP rights,the useful lives are determined based on the shorter of theexpected lifecycle of the IPs, and 10 years, being the term ofvalidity of the major rights of the IP rights. For licensed IPs, theuseful lives are determined based on shorter of the expectedlifecycle of the IPs, and contractual term of the respectivelicense agreements (Note 4(b)).
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司204NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(e)非金融资产减值可使用年期无限的商誉及无形资产不予摊销，并每年进行减值测试，或当有事件发生或情况变化显示其可能已减值时进行更频密减值测试。倘因事件发生或情况变化显示其他资产的账面值可能无法收回，则对其进行减值测试。减值亏损按资产账面值超过其可收回金额之部分予以确认。可收回金额为资产公平值减出售成本与使用价值两者中的较高者。就减值评估而言，资产按可单独识别现金流入（大体独立于其他资产或资产组别（现金产生单位）产生的现金流入）产生的最低水平予以分组。遭受减值的非金融资产（不包括商誉）于各报告期末检讨拨回减值的可能性。(f)投资及其他金融资产(i)分类本集团将其金融资产分类为以下计量类别：•其后按公平值（计入其他全面收益（「其他全面收益」）或损益）计量，及•按摊销成本计量。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(e) Impairment of non-financial assetsGoodwill and intangible assets that have an indefinite useful life arenot subject to amortisation and are tested annually for impairment,or more frequently if events or changes in circumstances indicatethat they might be impaired. Other assets are tested for impairmentwhenever events or changes in circumstances indicate that thecarrying amount may not be recoverable. An impairment loss isrecognised for the amount by which the asset’s carrying amountexceeds its recoverable amount. The recoverable amount is thehigher of an asset’s fair value less costs of disposal and value in use.For the purposes of assessing impairment, assets are grouped at thelowest levels for which there are separately identifiable cash inflowswhich are largely independent of the cash inflows from other assetsor groups of assets (cash-generating units). Non-financial assetsother than goodwill that suffered an impairment are reviewed forpossible reversal of the impairment at the end of each reportingperiod.(f) Investments and other financial assets(i) ClassificationThe Group classifies its financial assets in the followingmeasurement categories:• those to be measured subsequently at fair value (eitherthrough other comprehensive income (“OCI”), or throughprofit or loss), and• those to be measured at amortised cost.
二零二三年年报ANNUAL REPORT 2023205NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(f)投资及其他金融资产（续）(i)分类（续）该分类取决于本集团管理金融资产的业务模式及现金流量的合约条款。对于以公平值计量的资产，其收益及亏损将计入损益或其他全面收益。对于非持作买卖的权益工具投资，其将取决于本集团于初步确认时是否作出不可撤销的选择，以将权益投资按公平值计入其他全面收益（「按公平值计入其他全面收益」）入账。本集团在及仅在其管理该等资产的业务模式发生变化时方将债务投资重新分类。(ii)确认及终止确认常规买卖的金融资产于交易日期（即本集团承诺买卖该资产的日期）确认。当收取来自金融资产的现金流量的权利已届满或转让，且本集团已转移拥有权的绝大部分风险及回报时，金融资产即会终止确认。(iii)计量于初步确认时，本集团按金融资产的公平值加（就并非按公平值计入损益的金融资产而言）收购金融资产直接应占的交易成本计量金融资产。按公平值计入损益（「按公平值计入损益」）的金融资产的交易成本于损益内支销。当厘定具有嵌入式衍生工具的金融资产的现金流量是否仅为支付本金及利息时，需从其整体进行考虑。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(f) Investments and other financial assets(continued)(i) Classification(continued)The classification depends on the Group’s business model formanaging the financial assets and the contractual terms of thecash flows.For assets measured at fair value, gains and losses will eitherbe recorded in profit or loss or OCI. For investments in equityinstruments that are not held for trading, this will depend onwhether the Group has made an irrevocable election at thetime of initial recognition to account for the equity investmentat fair value through other comprehensive income (“FVOCI”).The Group reclassifies debt investments when and only whenits business model for managing those assets changes.(ii) Recognition and derecognitionRegular way purchases and sales of financial assets arerecognised on trade-date, the date on which the Groupcommits to purchase or sell the asset. Financial assets arederecognised when the rights to receive cash flows from thefinancial assets have expired or have been transferred and theGroup has transferred substantially all the risks and rewards ofownership.(iii) MeasurementAt initial recognition, the Group measures a financial assetat its fair value plus, in the case of a financial asset not at fairvalue through profit or loss, transaction costs that are directlyattributable to the acquisition of the financial asset. Transactioncosts of financial assets carried at fair value through profit orloss (“FVPL”) are expensed in profit or loss.Financial assets with embedded derivatives are considered intheir entirety when determining whether their cash flows aresolely payment of principal and interest.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司206NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(f)投资及其他金融资产（续）(iii)计量（续）债务工具债务工具的后续计量取决于本集团管理资产的业务模式及资产的现金流量特性。本集团将其债务工具分类为以下两个计量类别：•摊销成本：为收回仅作为支付本金及利息的合约现金流量而持有的资产按摊销成本计量。其后按摊销成本计量且不属对冲关系一部分的债务投资之收益或亏损，会于资产终止确认或出现减值时于综合损益及其他全面收益表确认。该等金融资产的利息收入使用实际利率法计入利息收入。减值亏损于综合损益及其他全面收益表呈列为单独项目。•按公平值计入其他全面收益：持作收回合约现金流量及出售金融资产之资产，倘该等资产之现金流量仅指支付本金及利息，则按公平值计入其他全面收益计量。账面值之变动乃计入其他全面收益，惟于损益确认之减值收益或亏损、利息收入及外汇收益及亏损之确认除外。金融资产终止确认时，先前于其他全面收益确认之累计收益或亏损自权益重新分类至损益并于其他收益╱亏损内确认。该等金融资产之利息收入乃按实际利率法计入财务收入。外汇收益及亏损于其他收益╱亏损呈列，而减值开支于损益及其他全面收益中按个别项目单独呈列。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(f) Investments and other financial assets(continued)(iii) Measurement(continued)Debt instrumentsSubsequent measurement of debt instruments depends on theGroup’s business model for managing the asset and the cashflow characteristics of the asset. There are two measurementcategories into which the Group classifies its debt instruments:• Amortised cost: Assets that are held for collection ofcontractual cash flows where those cash flows representsolely payments of principal and interest are measuredat amortised cost. A gain or loss on a debt investmentthat is subsequently measured at amortised cost andis not part of a hedging relationship is recognised inthe consolidated statement of profit of loss and othercomprehensive income when the asset is derecognisedor impaired. Interest income from these financial assetsis included in interest income using the effective interestrate method. Impairment losses are presented as separateline item in consolidated statement of profit or loss andother comprehensive income.• FVOCI: Assets that are held for collection of contractualcash flows and for selling the financial assets, where theassets’cash flows represent solely payments of principaland interest, are measured at FVOCI. Movements inthe carrying amount are taken through OCI, except forthe recognition of impairment gains or losses, interestincome and foreign exchange gains and losses, whichare recognised in profit or loss. When the financial assetis derecognised, the cumulative gain or loss previouslyrecognised in OCI is reclassified from equity to profit orloss and recognized in other gains/losses. Interest incomefrom these financial assets is included in finance incomeusing the effective interest rate method. Foreign exchangegains and losses are presented in other gains/losses, andimpairment expenses are presented as separate line itemin the statement of profit or loss and other comprehensiveincome.
二零二三年年报ANNUAL REPORT 2023207NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(f)投资及其他金融资产（续）(iii)计量（续）债务工具（续）•按公平值计入损益：未达摊销成本标准的资产或按公平值计入其他全面收益的金融资产乃按公平值计入损益计量。其后按公平值计入损益计量且不属对冲关系一部分的债务投资之收益或亏损于损益内确认，并于产生期间在综合损益及其他全面收益表内「其他收益－净额」列报净额。权益工具•本集团以公平值对所有权益投资进行后续计量。倘本集团管理层选择于其他全面收益呈列权益工具的公平值收益及亏损，则当终止确认该项投资后，不会将公平值收益及亏损其后重新分类至损益。当本集团收取派付的权利确立时，该等投资的股息继续于损益中确认为「其他收益－净额」。权益投资减值亏损（以及减值亏损拨回）不会与其他公平值变动分别列报。•按公平值计入损益的金融资产的公平值变动于综合损益及其他全面收益表的「其他收益－净额」确认。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(f) Investments and other financial assets(continued)(iii) Measurement(continued)Debt instruments(continued)• FVPL: Assets that do not meet the criteria for amortisedcost or financial assets at fair value through othercomprehensive income are measured at fair value throughprofit or loss. A gain or loss on a debt investment that issubsequently measured at fair value through profit or lossand is not part of a hedging relationship is recognisedin profit or loss and presented net in the consolidatedstatement of profit of loss and other comprehensiveincome within“Other gains – net”in the period in which itarises.Equity instruments• The Group subsequently measures all equity investmentsat fair value. Where the Group’s management haselected to present fair value gains and losses on equityinvestments in OCI, there is no subsequent reclassificationof fair value gains and losses to profit or loss followingthe derecognition of the investment. Dividends from suchinvestments continue to be recognised in profit or lossas“Other gains – net”when the Group’s right to receivepayments is established. Impairment losses (and reversalof impairment losses) on equity investments measured atFVOCI are not reported separately from other changes infair value.• Changes in the fair value of financial assets at FVPL arerecognised in“Other gains – net”in the consolidatedstatement of profit or loss and other comprehensiveincome.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司208NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(f)投资及其他金融资产（续）(iv)减值本集团按前瞻性基准评估与其以摊销成本列账的债务工具相关的预期信贷亏损。所应用的减值方法取决于信贷风险是否显著增加。对于贸易应收款项，本集团应用国际财务报告准则第9号允许的简化方法，该方法要求于初始确认应收款项时确认预期全期亏损（详情请参阅附注3.1(b)）。(g)存货存货以成本及可变现净值两者中的较低者列账。成本使用加权平均法厘定。购买存货的成本乃于扣除回扣及折扣后厘定，不包括借款成本。可变现净值为在日常业务过程中的估计售价减去估计的完工成本和估计的销售所需成本。(h)贸易应收款项贸易应收款项为在日常业务过程中就所售商品或所提供服务而应收客户的款项。如贸易及其他应收款项预期在一年或以内（如仍在正常业务经营周期中，则可更长时间）收回，其被分类为流动资产，否则分类为非流动资产。贸易应收款项初步按有关无条件代价金额确认，但当其包含重大融资部分时，则按公平值确认。本集团持有贸易应收款项之目的为收取合约现金流量，因此其后对其采用实际利率法按摊销成本计量。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(f) Investments and other financial assets(continued)(iv) ImpairmentThe Group assesses on a forward looking basis the expectedcredit losses associated with its debt instruments carried atamortised cost. The impairment methodology applied dependson whether there has been a significant increase in credit risk.For trade receivables, the Group applies the simplifiedapproach permitted by IFRS 9, which requires expectedlifetime losses to be recognised from initial recognition of thereceivables, see Note 3.1(b) for details.(g) InventoriesInventories are stated at the lower of cost and net realisable value.Cost is determined using the weighted average method. Costs ofpurchased inventory are determined after deducting rebates anddiscounts. It excludes borrowing costs. Net realisable value is theestimated selling price in the ordinary course of business less theestimated costs of completion and the estimated costs necessary tomake the sale.(h) Trade receivablesTrade receivables are amounts due from customers for goodssold or services performed in the ordinary course of business. Ifcollection of trade and other receivables is expected in one year orless (or in the normal operating cycle of the business if longer), theyare classified as current assets. If not, they are presented as non-current assets.Trade receivables are recognised initially at the amount ofconsideration that is unconditional unless they contain significantfinancing components, when they are recognised at fair value. TheGroup holds the trade receivables with the objective to collect thecontractual cash flows and therefore measures them subsequentlyat amortised cost using the effective interest method.
二零二三年年报ANNUAL REPORT 2023209NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(h)贸易应收款项（续）由于流动应收款项的短期性质，其账面值被认为与公平值相同。有关本集团减值政策及亏损拨备的计算之详情载于附注3.1(b)。(i)合约负债本集团于商品的控制权被转移或服务获提供前已收到客户的代价时，会确认合约负债。(j)即期及递延所得税期内所得税开支或抵免指就本期间应课税收入按各司法权区适用所得税税率应付的税项，并就暂时性差额及未动用税项亏损应占递延税项资产及负债变动作出调整。(i)即期所得税即期所得税支出根据本集团及其附属公司业务经营及产生应课税收入的所在国家于结算日已颁布或实质上已颁布的税务法例计算。管理层就适用税务法例诠释所规限的情况定期评估报税状况，并在适用情况下根据预期须向税务机关支付的税款作出拨备。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(h) Trade receivables(continued)Due to the short-term nature of the current receivables, theircarrying amount is considered to be the same as their fair value.Details about the Group’s impairment policies and the calculationof the loss allowance are provided in Note 3.1(b).(i) Contract liabilitiesA contract liability is recognised when the Group has receivedconsiderations from the customers before the control of thegoods transferred or the services rendered.(j) Current and deferred income taxThe income tax expense or credit for the period is the tax payableon the current period’s taxable income, based on the applicableincome tax rate for each jurisdiction, adjusted by changes indeferred tax assets and liabilities attributable to temporarydifferences and to unused tax losses.(i) Current income taxThe current income tax charge is calculated on the basis of thetax laws enacted or substantively enacted at the balance sheetdate in the countries where the Group and its subsidiariesoperate and generate taxable income. Managementperiodically evaluates positions taken in tax returns withrespect to situations in which applicable tax regulation issubject to interpretation. It establishes provisions whereappropriate on the basis of amounts expected to be paid tothe tax authorities.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司210NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(j)即期及递延所得税（续）(ii)递延所得税递延所得税按资产及负债的税基与其在综合财务报表中的账面值之间产生的暂时性差额采用负债法悉数计提拨备。然而，若递延税项负债来自初步确认商誉，则不予确认。若递延所得税来自在交易（不包括业务合并）中对资产或负债的初步确认，而在交易时不影响会计或应课税损益且不会产生相等应课税及可扣税暂时性差额，则亦不予以入账。递延所得税采用在报告期末前已颁布或实质上已颁布，并在有关递延所得税资产变现或递延所得税负债结算时预期将会应用的税率（及法例）而厘定。递延税项资产仅于未来可能取得应课税款项而可动用该等暂时性差额及亏损时方会确认。倘本集团可控制暂时性差额的拨回时间及很有可能在可预见未来不会拨回有关差额的情况下，则不会就于境外业务投资的账面值与税基之间的暂时性差额确认递延税项负债及资产。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(j) Current and deferred income tax(continued)(ii) Deferred income taxDeferred income tax is provided in full, using the liabilitymethod, on temporary differences arising between the taxbases of assets and liabilities and their carrying amounts inthe consolidated financial statements. However, deferredtax liabilities are not recognised if they arise from the initialrecognition of goodwill. Deferred income tax is also notaccounted for if it arises from initial recognition of an asset orliability in a transaction other than a business combination thatat the time of the transaction affects neither accounting nortaxable profit or loss and does not give rise to equal taxableand deductible temporary differences. Deferred income tax isdetermined using tax rates (and laws) that have been enactedor substantively enacted by the end of the reporting periodand are expected to apply when the related deferred incometax asset is realised or the deferred income tax liability issettled.Deferred tax assets are recognised only if it is probable thatfuture taxable amounts will be available to utilise thosetemporary differences and losses.Deferred tax liabilities and assets are not recognised fortemporary differences between the carrying amount and taxbases of investments in foreign operations where the Groupis able to control the timing of the reversal of the temporarydifferences and it is probable that the differences will notreverse in the foreseeable future.
二零二三年年报ANNUAL REPORT 2023211NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(j)即期及递延所得税（续）(ii)递延所得税（续）当存在合法可强制执行权利以抵销即期税项资产及负债以及当递延税项结余与同一税务机关有关连时，会抵销递延税项资产及负债。倘有关实体拥有合法可强制执行权利以抵销且有意按净额基准进行结算或同时变现资产及结算负债，则抵销即期税项资产及税项负债。即期及递延税项于损益内确认，惟以与于其他全面收益或直接于权益内确认的项目相关者为限。就此而言，税项亦分别于其他全面收益或直接于权益内确认。(k)收益确认收益按已收或应收代价的公平值计量，表示就所提供商品或服务的应收款项，并于扣除折扣及相关增值税后列账。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(j) Current and deferred income tax(continued)(ii) Deferred income tax(continued)Deferred tax assets and liabilities are offset when there isa legally enforceable right to offset current tax assets andliabilities and when the deferred tax balances relate to thesame taxation authority. Current tax assets and tax liabilitiesare offset where the entity has a legally enforceable right tooffset and intends either to settle on a net basis, or to realisethe asset and settle the liability simultaneously.Current and deferred tax is recognised in profit or loss, exceptto the extent that it relates to items recognised in othercomprehensive income or directly in equity. In this case, thetax is also recognised in other comprehensive income ordirectly in equity, respectively.(k) Revenue recognitionRevenue is measured at the fair value of the consideration receivedor receivable, and represents amounts receivables for goodssupplied or serviced provided, stated net of discounts and therelevant value added taxes.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司212NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(k)收益确认（续）(i)商品销售－零售店销售及机器人商店销售本集团经营连锁零售店及机器人商店售货机以销售潮流玩具。当产品的控制权已转移至客户时确认商品销售收益。销售予终端客户的产品并无退货权。零售销售通常以现金、信用╱借记卡或通过在线支付平台结算。(ii)商品销售－线上销售潮流玩具亦通过自营在线平台或其他第三方电商平台出售，而收益于产品的控制权已转移至客户时（即客户接纳产品时）确认。该等销售的收益乃根据价格（扣除销售时的估计销售折扣）确认。交易以现金、信用╱借记卡或通过在线支付平台结算。第三方电商平台的佣金为获得合约的增量成本。本集团以实际权宜法将预期摊销期限为一年或以下的佣金在产生时支销。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(k) Revenue recognition(continued)(i) Sale of goods – retail store sales and roboshop salesThe Group operates a chain of retail stores and roboshopmachines for selling pop toys. Revenue from sales of goods arerecognised when the control of the product has transferred tothe customer. There was no right of return for the sales to theend customer. Retail sales are usually settled in cash, by credit/debit cards or through online payment platforms.(ii) Sale of goods – online salesPop toys are also sold through self-operated online platformor other third-party e-commercial platform and revenue isrecognised when the control of the products has transferredto the customer, which is the point of acceptance by thecustomers. Revenue from these sales are recognised based onthe price, net of the estimated sales discounts at the time ofsale. Transactions are settled in cash, by credit/debit cards orthrough online payment platforms. The commissions to thethird party e-commercial platform is an incremental cost toobtain a contract. The Group applies the practical expedientto expense the commissions as incurred as the expectedamortisation period is one year or less.
二零二三年年报ANNUAL REPORT 2023213NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(k)收益确认（续）(iii)商品销售－客户忠诚度计划本集团实行一项忠诚度计划，据此零售及在线客户通过积累购物积分，可在未来购物时享受折扣。本集团将奖励积分作为授予奖励积分的销售交易（「最初销售」）的单独履约义务入账。就最初销售已收或应收代价的公平值在奖励积分（基于考虑破损的独立销售价格，计入合约负债）及所售产品之间分配。奖励积分被兑换或到期时，将确认奖励积分的收益。截至2023年止年度，奖励积分于最初销售发生次月起每六个月结束时到期。(iv)商品销售－批发在产品的控制权已转让（即产品交付予批发商之时），批发商可全权酌情决定渠道及价格以出售产品，且概无可能影响批发商接受产品的未履行责任时确认收益。产品交付至特定地点而过时及损失的风险已转移给批发商，以及批发商已根据销售合约接纳产品、接纳条款已失效或本集团有客观证据显示所有接纳的标准已达成，则始能作为交付。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(k) Revenue recognition(continued)(iii) Sale of goods – customer loyalty programmeThe Group operates a loyalty programme where retail andonline customers accumulate award points for purchases madewhich entitle them to discounts on future purchases. TheGroup accounts for award points as a separate performanceobligation of the sales transactions in which they are granted(the‘’initial sale’’). The fair value of the consideration receivedor receivable in respect of the initial sale is allocated betweenthe award points (based on the stand-alone selling priceconsidering breakage), which is credited to contract liabilities,and the products sold. Revenue from the award points isrecognised when they are redeemed or expired. During theyear ended 2023, the award points expire at the end of eachsix months from the next months following the initial salesoccurs.(iv) Sales of goods – wholesaleRevenue are recognised when control of the productshas transferred, being when products are delivered to thewholesaler, the wholesaler has full discretion over the channeland price to sell the products, and there is no unfulfilledobligation that could affect the wholesaler’s acceptance ofthe products. Delivery occurs when the products have beenshipped to the specified location, the risks of obsolescence andloss have been transferred to the wholesaler, and either thewholesaler has accepted the products in accordance with thesales contract, the acceptance provisions have lapsed, or theGroup has objective evidence that all criteria for acceptancehave been satisfied.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司214NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(k)收益确认（续）(iv)商品销售－批发（续）应收款项于货品交付时确认，原因为代价于该时间点成为无条件，仅须待时间推移便可收取到期付款。(v)其他收益其他收益主要来自在本集团经营的游乐园及本集团举办的展会上销售商品及提供服务。就商品销售而言，收益于产品的控制权已转移至客户时确认，请参阅上文附注2.1(k)(i)。就提供服务（包括销售门票及其他服务）而言，收益于提供有关服务及客户同时获得并耗用本集团所提供的利益时确认。(vi)授权费收入本集团向第三方授权角色以供于某期间内就有关产品使用。收入于合约期内按比例确认，并计入综合损益及其他全面收益表的其他收入内。(l)租赁租赁乃于租赁资产可供本集团使用之日确认为使用权资产及相应负债。合约可能包含租赁及非租赁组成部分。本集团按照租赁及非租赁组成部分相应的独立价格，将合约代价分配至租赁及非租赁组成部分。然而，就本集团作为承租人的房地产租赁而言，其选择将租赁及非租赁组成部分入账为单一租赁组成部分，并无将两者区分。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(k) Revenue recognition(continued)(iv) Sales of goods – wholesale(continued)As receivable is recognised when the goods are delivered asthis is the point in time that the consideration is unconditionalbecause only the passage of time is required before thepayment is due.(v) Revenue from othersRevenue from others mainly arises from sales of goods andprovision of services in the amusement park operated by theGroup and at the conventions hosted by the Group. For sales ofgoods, revenue is recognised when the control of the productshas transferred to the customer, see Note 2.1(k)(i) above. Forprovision of services, including tickets sold and other services,revenue is recognised when the relevant services are renderedand the customer simultaneously receives and consumes thebenefits provided by the Group.(vi) License fees incomeThe Group licenses characters to third parties on relevantproducts for a period. The income is recognised ratablyin the contractual period and included in other incomein the consolidated statement of profit or loss and othercomprehensive income.(l) LeasesLeases are recognised as a right-of-use asset and a correspondingliability at the date at which the leased asset is available for use bythe Group.Contracts may contain both lease and non-lease components. TheGroup allocates the consideration in the contract to the lease andnon-lease components based on their relative stand-alone prices.However, for leases of real estate for which the Group is a lessee, ithas elected not to separate lease and non-lease components andinstead accounts for these as a single lease component.
二零二三年年报ANNUAL REPORT 2023215NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(l)租赁（续）租赁条款乃单独磋商达致，当中包含各种不同的条款及条件。租赁协议并不强加任何契诺（于出租人持有的租赁资产中之抵押权益除外）。租赁资产不得用作借款的抵押。租赁产生的资产及负债初步以现值基准计量。租赁负债包括下列租赁付款的净现值：•固定付款（包括实质上的固定付款），减去任何应收租赁优惠•基于指数或利率的可变租赁付款，采用于开始日期的指数或利率初步计量•本集团于剩余价值担保下预计应付的金额•倘本集团合理确定行使购买选择权，则为该选择权的行使价，及•倘租期反映本集团行使该选择权，则为终止租赁的罚款付款。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(l) Leases(continued)Lease terms are negotiated on an individual basis and contain awide range of different terms and conditions. The lease agreementsdo not impose any covenants other than the security interests inthe leased assets that are held by the lessor. Leased assets may notbe used as security for borrowing purposes.Assets and liabilities arising from a lease are initially measured on apresent value basis. Lease liabilities include the net present value ofthe following lease payments:• fixed payments (including in-substance fixed payments), lessany lease incentives receivable• variable lease payment that are based on an index or arate, initially measured using the index or rate as at thecommencement date• amounts expected to be payable by the Group under residualvalue guarantees• the exercise price of a purchase option if the Group isreasonably certain to exercise that option, and• payments of penalties for terminating the lease, if the leaseterm reflects the Group exercising that option.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司216NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(l)租赁（续）根据合理确定延期选择权支付的租赁付款亦计入负债计量之内。租赁付款采用租赁隐含的利率贴现。倘现时无法厘定该利率（本集团的租赁通常如此），则使用承租人的增量借款利率予以贴现，即个别承租人在类似经济环境中以类似条款、抵押及条件获得与使用权资产价值相近的资产所需借入资金而须支付的利率。为厘定增量借款利率，本集团：•使用累加法，首先就本集团所持有租赁的信贷风险（最近并无第三方融资）调整无风险利率，及•对租赁进行特定调整，例如期限、国家、货币及抵押。本集团未来可能根据指数或利率增加可变租赁付款额，而有关指数或利率在生效前不会计入租赁负债。当根据指数或利率对租赁付款作出的调整生效时，租赁负债会根据使用权资产进行重新评估及调整。租赁付款于本金及财务成本之间作出分配。财务成本在租赁期间于损益扣除，借以令各期间的负债余额的期间利率一致。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(l) Leases(continued)Lease payments to be made under reasonably certain extensionoptions are also included in the measurement of the liability.The lease payments are discounted using the interest rate implicitin the lease. If that rate cannot be readily determined, which isgenerally the case for leases in the Group, the lessee’s incrementalborrowing rate is used, being the rate that the individual lesseewould have to pay to borrow the funds necessary to obtain anasset of similar value to the right-of-use asset in a similar economicenvironment with similar terms, security and conditions.To determine the incremental borrowing rate, the Group:• uses a build-up approach that starts with a risk-free interestrate adjusted for credit risk for leases held by the Group, whichdoes not have recent third-party financing, and• makes adjustments specific to the lease, e.g. term, country,currency and security.The Group is exposed to potential future increases in variable leasepayments based on an index or rate, which are not included inthe lease liability until they take effect. When adjustments to leasepayments based on an index or rate take effect, the lease liability isreassessed and adjusted against the right-of-use asset.Lease payments are allocated between principal and finance cost.The finance cost is charged to profit or loss over the lease period soas to produce a constant periodic rate of interest on the remainingbalance of the liability for each period.
二零二三年年报ANNUAL REPORT 2023217NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(l)租赁（续）使用权资产按成本计量，包括以下各项：•租赁负债的初始计量金额•于开始日期或之前的任何租赁付款减任何已收租赁优惠•任何初始直接成本，及•复原成本。使用权资产一般于资产可使用年期及租期（以较短者为准）按直线法折旧。倘本集团合理确定行使购买选择权，则使用权资产于相关资产的可使用年期内予以折旧。与短期设备及汽车租赁及所有低价值资产租赁相关的付款以直线法于损益中确认为开支。短期租赁指租期为12个月或以内的租赁。(i)可变租赁付款若干物业租赁包含可变付款条款，该等条款与店舖产生的销售相关联。对于若干同时包含固定及可变租赁付款条款的店舖，其租赁付款乃基于可变付款条款，比例介乎销售的9%至18%。可变付款条款的使用有多种原因，包括尽量减低新建商店的固定成本基础。依赖于销售的可变租赁付款在触发该等付款的条件发生的期间于损益中确认。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(l) Leases(continued)Right-of-use assets are measured at cost comprising the following:• the amount of the initial measurement of lease liability• any lease payments made at or before the commencementdate less any lease incentives received• any initial direct costs, and• restoration costs.Right-of-use assets are generally depreciated over the shorter of theasset’s useful life and the lease term on a straight-line basis. If theGroup is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life.Payments associated with short-term leases of equipment andvehicles and all leases of low-value assets are recognised on astraight-line basis as an expense in profit or loss. Short-term leasesare leases with a lease term of 12 months or less.(i) Variable lease paymentsSome property leases contain variable payment terms thatare linked to sales generated from a store. For certain storesincluding fixed and variable rental payment terms, thelease payments are on the basis of variable payment termswith percentages ranging from 9% to 18% of sales. Variablepayment terms are used for a variety of reasons, includingminimising the fixed costs base for newly established stores.Variable lease payments that depend on sales are recognised inprofit or loss in the period in which the condition that triggersthose payments occurs.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司218NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.1重大会计政策概要（续）(m)以股份为基础的报酬通过股份奖励计划将向雇员提供以股份为基础的报酬福利。有关计划的资料载于附注28。用以交换所授限制性股份而获得的服务的公平值确认为开支。将支销的总额乃参考于授出日期所授限制性股份的公平值厘定，不包括任何服务及非市场表现归属条件的影响（倘适用）。所支销的总额于所有规定的归属条件均达成的归属期间确认。于各报告期末，本集团根据非市场归属条件修订其预期归属的股份数目的估计，其于综合损益及其他全面收益表确认修订原先估计的影响（如有），并对权益作出相应调整。当股份获行使时，所收取的所得款项于扣除任何直接应占交易成本后计入股本（面值）及股份溢价。(n)政府补贴倘能够合理确定本集团将收到政府补贴及本集团将符合所有附带条件，则政府补贴将按其公平值确认。有关成本的政府补贴将予递延，并在按配合拟补偿的成本所需期间内于综合损益及其他全面收益表确认。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.1 Summary of material accounting policies(continued)(m) Share-based compensationShare-based compensation benefits are provided to employeesvia Share Award Scheme. Information relating to the scheme is setout in Note 28. The fair value of the services received in exchangefor the grant of the restricted shares is recognised as an expense.The total amount to be expensed is determined by reference tothe fair value of the restricted shares granted as at grant date,excluding the impacts of any service and non-market performancevesting conditions, when applicable. The total amount expensed isrecognised over the vesting period, which is the period over whichall of the specified vesting conditions are to be satisfied.At the end of each reporting period, the Group revises its estimatesof the number of shares that are expected to vest based onthe non-market vesting conditions. It recognises the impactof the revision of original estimates, if any, in the consolidatedstatement of profit or loss and other comprehensive income with acorresponding adjustment to equity.The proceeds received net of any directly attributable transactioncosts are credited to share capital (nominal value) and sharepremium when the shares are exercised.(n) Government grantsGrants from the government are recognised at their fair value wherethere is a reasonable assurance that the grant will be received, andthe Group will comply with all attached conditions.Government grants relating to costs are deferred and recognisedin the consolidated statement of profit or loss and othercomprehensive income as other income over the periodnecessary to match them with the costs that they are intended tocompensate.
二零二三年年报ANNUAL REPORT 2023219NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注2会计政策概要（续）2.2其他会计政策除上述重大会计政策外，本集团在编制综合财务报表时还采用其他会计政策。其他会计政策摘要见附注39。3财务风险管理3.1财务风险因素本集团的活动使其面临各种财务风险：市场风险（包括外汇风险及现金流量╱公平值利率风险）、信贷风险及流动资金风险。本集团的整体风险管理计划著重于金融市场的不可预测性，力求将对本集团财务业绩的潜在不利影响降至最低。2 SUMMARY OF ACCOUNTING POLICIES(continued)2.2 Other accounting policiesBesides the material accounting policies as described above, the Grouphas also adopted other accounting policies in the preparation of theseconsolidated financial statements. See Note 39 for the summary of otheraccounting policies.3 FINANCIAL RISK MANAGEMENT3.1 Financial risk factorsThe Group’s activities expose it to a variety of financial risks: market risks(including foreign exchange risks and cash flow/fair value interest raterisks), credit risk and liquidity risk. The Group’s overall risk managementprogramme focuses on the unpredictability of financial markets andseeks to minimise potential adverse effects on the Group’s financialperformance.RiskExposure arising fromMeasurement风险风险敞口产生于计量方式Market risk – foreignexchangeFinancial assets and liabilities denominated in foreign currencydifferent from its functional currency.Cash flow forecastingSensitivity analysis市场风险－外汇以与其功能货币不同的外币计值的金融资产及负债。现金流量预测敏感性分析Credit riskCash and cash equivalents, restricted cash, financial assets at FVPL,trade receivables and other receivables.Aging analysis Creditratings信贷风险现金及现金等价物、受限制现金、按公平值计入损益的金融资产、贸易应收款项及其他应收款项。账龄分析信贷评级Liquidity riskFinancial liabilitiesRolling cash flow forecasts流动资金风险金融负债滚动现金流量预测
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司220NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(a)市场风险(i)外汇风险本公司的交易以功能货币美元呈列及结算。本集团的附属公司在中国内地、香港、澳门、台湾及海外开展业务，面临不同货币（主要为美元及港元）的外汇风险。因此，外汇风险主要来自本集团在中国内地的附属公司从香港、澳门、台湾及海外的交易对手收取或接收外币，或支付或偿付外币时所确认的资产及负债，以及本集团在香港、澳门、台湾及海外的附属公司从中国内地或其他不同地区或国家的交易对手收取或接收外币，或支付或偿付外币时所确认的资产及负债。截至2023年及2022年12月31日止年度，本集团概无订立任何远期合约以对冲其外币风险敞口。风险敞口本集团于2023年及2022年12月31日的外币风险敞口（以人民币元列示）如下：3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(a) Market risk(i) Foreign exchange riskThe transactions of the Company are denominated and settledin its functional currency, US$. The Group’s subsidiaries operatein Mainland China, Hong Kong, Macao, Taiwan and Overseas,and they are exposed to foreign exchange risk arising fromvarious currency exposures, primarily with respect to USD andHKD. Therefore, foreign exchange risk primarily arose fromrecognized assets and liabilities in the Group’s subsidiaries inMainland China when receiving or to receive foreign currenciesfrom, or paying or to pay foreign currencies to counter partiesin Hong kong, Macao, Taiwan and Overseas, and recognizedassets and liabilities in the Group’s subsidiaries in Hong kong,Macao, Taiwan and Overseas when receiving or to receiveforeign currencies from, or paying or to pay foreign currenciesto counter parties in Mainland China or other different regionsor countries. The Group did not enter into any forward contractto hedge its exposure to foreign currency risk for the yearended 31 December 2023 and 2022.ExposureThe Group’s exposure to foreign currency risk as 31 December2023 and 2022, expressed in RMB was as follows:31 December 202331 December 20222023年12月31日2022年12月31日USDHKDUSDHKD美元港元美元港元RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元Cash and cash equivalents现金及现金等价物101,8124,86651,1613,234Financial assets at fair valuethrough profit or loss按公平值计入损益的金融资产–8,415–12,829License fees payables应付授权费(33,425)(45,390)(29,504)(87,887)
二零二三年年报ANNUAL REPORT 2023221NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(a)市场风险（续）(i)外汇风险（续）敏感度如下表所示，本集团主要面临美元兑人民币汇率及港元兑人民币汇率变动。(ii)现金流量及公平值利率风险固定利率的金融资产及负债使本集团面临公平值利率风险，而浮动利率的金融资产及负债使本集团面临现金流量利率风险。本集团的收入及经营现金流量基本上独立于市场利率的变化，因为本集团并无重大资产╱负债产生重大利息。本集团目前并无对冲利率风险。3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(a) Market risk(continued)(i) Foreign exchange risk(continued)SensitivityAs shown in the table below, the Group is primarily exposed tochanges in USD/RMB and HKD/RMB exchange rates.Impact on post tax profit对除税后溢利的影响For the year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元USD/RMB exchange rate – increase 10%美元兑人民币汇率－上升10%5,1291,624USD/RMB exchange rate – decrease 10%美元兑人民币汇率－下降10%(5,129)(1,624)HKD/RMB exchange rate – increase 10%港元兑人民币汇率－上升10%(2,408)(5,387)HKD/RMB exchange rate – decrease 10%港元兑人民币汇率－下降10%2,4085,387(ii) Cash flow and fair value interest rate riskFinancial assets and liabilities at fixed rates expose the Groupto fair value interest-rate risk while financial assets and liabilitiesat floating rates expose the Group to cash flow interest raterisk.The Group’s income and operating cash flows are substantiallyindependent of changes in market interest rates as the Grouphas no material assets/liabilities bearing significant interest.The Group currently does not hedge its exposure to interestrate risk.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司222NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(b)信贷风险信贷风险来自现金及现金等价物、受限制现金、定期存款、按公平值计入损益的金融资产以及来自批发及零售客户的信贷风险，包括未偿还的贸易及其他应收款项。(i)风险管理信贷风险按组别基准管理，惟有关应收账款结余的信贷风险除外。各当地实体负责于提供标准付款及交付条款及条件前管理及分析其各自新客户的信贷风险。本集团仅允许具有良好信贷记录之客户进行赊购。本集团概无任何重大信贷风险集中。现金及银行结余、受限制现金、定期存款、按公平值计入损益的金融资产、贸易应收款项以及其他应收款项之账面值乃指本集团就金融资产面临的最高信贷风险。于2023年及2022年12月31日，所有银行存款乃存放于国有或具声誉的商业银行（均为并无重大信贷风险的高信贷质素的金融机构）或由其管理。就零售及在线销售而言，贸易应收款项主要包括信用卡应收款项及第三方付款平台应收款项。本集团管理层认为信贷风险有限，原因为在途存款由高信贷质素的金融机构或其他第三方持有。该等金融机构及第三方近期并无过往违约记录，有关贸易应收款项本身信贷风险较低。3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(b) Credit riskCredit risk arises from cash and cash equivalent, restricted cash,time deposits, financial assets at FVPL as well as credit exposuresto wholesale and retail customers including outstanding trade andother receivables.(i) Risk managementCredit risk is managed on group basis, except for credit riskrelating to accounts receivable balances. Each local entity isresponsible for managing and analysing the credit risk for eachof their new clients before standard payment and deliveryterms and conditions are offered. The Group’s credit salesare only made to customers with appropriate credit history.The Group has no significant concentration of credit risk. Thecarrying amounts of cash and bank balances, restricted cash,time deposits, financial assets at FVPL, trade receivables andother receivables represent the Group’s maximum exposure tocredit risk in relation to financial assets.As at 31 December 2023 and 2022, all the bank depositsare deposited in or managed by state-owned or reputablecommercial banks which are all high-credit-quality financialinstitutions without significant credit risk.For retail and online sales, trade receivables mainly includecredit card receivables and receivables from third-partypayment platform receivables. The management of the Groupbelieves the credit risk is limited because the deposits in transitwas held by high-credit-quality financial institutions or otherthird parties. There has been no recent history of default inrelation to these financial institutions and third parties, thecredit risk inherent in such trade receivables is low.
二零二三年年报ANNUAL REPORT 2023223NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(b)信贷风险（续）(i)风险管理（续）对于应收批发商的贸易应收款项，管理层根据彼等财务状况、过往经验、基于销售付款情况的预期亏损率以及其他因素来评估该等批发商的信贷风险质素。本集团设有适当政策以确保信贷条款授予可靠的批发商。本集团过往收回的应收款项并未超出其入账拨备，故董事认为已就不可收回的应收款项作出充分拨备。(ii)金融资产减值本集团拥有两种类型的金融资产，彼等符合国际财务报告准则第9号的新预期信贷亏损模式。•贸易应收款项，及•其他应收款项尽管现金及现金等价物、受限制现金以及初始期限超过三个月但于一年内的定期存款亦须遵守国际财务报告准则第9号的减值规定，惟已识别的减值亏损并不重大。3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(b) Credit risk(continued)(i) Risk management(continued)For trade receivables due from wholesalers, the managementassesses the credit risk quality of the wholesalers based ontheir financial positions, past experience, expected loss ratesbased on the payment profiles of sales and other factors. TheGroup has policies in place to ensure credit terms are grantedto reliable wholesalers. The Group’s historical experience incollection of receivables falls within recorded allowances andthe directors are of the opinion that adequate provision foruncollectible receivables has been made.(ii) Impairment of financial assetsThe Group has two types of financial assets that are subject toIFRS 9’s new expected credit loss model.• trade receivables, and• other receivablesWhile cash and cash equivalents, restricted cash and termdeposits with initial term over three months and within oneyear are also subject to the impairment requirements of IFRS 9,the identified impairment loss was immaterial.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司224NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(b)信贷风险（续）(ii)金融资产减值（续）贸易应收款项本集团采用国际财务报告准则第9号的简化方法计量预期信贷亏损，该方法对所有应收账款使用全期预期亏损拨备。为了计量预期信贷亏损，应收账款已根据共同的信贷风险特征及逾期天数进行分组。预期亏损率乃基于十二个月时间内的销售付款情况以及该期间内的相应历史信贷亏损而得出。历史亏损率会作出调整，以反映有关影响客户结算应收款项能力的宏观经济因素的当前及前瞻性资料。在此基础上，按以下方法厘定贸易应收款项于2023年及2022年12月31日作出的亏损拨备：2023年12月31日3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(b) Credit risk(continued)(ii) Impairment of financial assets(continued)Trade receivablesThe Group applies the IFRS 9 simplified approach to measureexpected credit losses which uses a lifetime expected lossallowance for all account receivables. To measure the expectedcredit losses, account receivables have been grouped based onshared credit risk characteristics and the days past due.The expected loss rates are based on the payment profiles ofsales over a period of twelve months and the correspondinghistorical credit losses experienced within this period. Thehistorical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting theability of the customers to settle the receivables.On that basis, the loss allowance as at 31 December 2023 and2022 was determined as follows for trade receivables：31 December 2023Provision on collective basis0-90 days91-180 daysOver180 daysTotal按集体基准拨备0至90天91至180天180天以上总计Lifetime expected creditloss rate全期预期信贷亏损率0.48%9.41%100.00%2.23%Gross carrying amount总账面值311,48512,5234,648328,656Loss allowance亏损拨备(1,493)(1,178)(4,648)(7,319)
二零二三年年报ANNUAL REPORT 2023225NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(b)信贷风险（续）(ii)金融资产减值（续）贸易应收款项（续）2022年12月31日贸易应收款项于并无合理收回预期时撇销。并无合理收回预期的迹象包括（其中包括）债务人未能与本集团达成还款计划，以及于逾期超过180天的期间内未能作出合约付款。贸易应收款项的减值亏损在经营溢利内列为减值亏损净额。随后收回的先前撇销金额计入同一项目。3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(b) Credit risk(continued)(ii) Impairment of financial assets(continued)Trade receivables(continued)31 December 2022Provision on collective basis0-90 days91-180 daysOver180 daysTotal按集体基准拨备0至90天91至180天180天以上总计Lifetime expected creditloss rate全期预期信贷亏损率0.46%12.31%100.00%3.62%Gross carrying amount总账面值181,33915,8094,512201,660Loss allowance亏损拨备(833)(1,946)(4,512)(7,291)Trade receivables are written off when there is no reasonableexpectation of recovery. Indicators that there is no reasonableexpectation of recovery include, amongst others, the failure ofa debtor to engage in a repayment plan with the Group, anda failure to make contractual payments for a period of greaterthan 180 days past due.Impairment losses on trade receivables are presented asnet impairment losses within operating profit. Subsequentrecoveries of amounts previously written off are creditedagainst the same line item.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司226NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(b)信贷风险（续）(ii)金融资产减值（续）其他应收款项其他应收款项主要包括租赁按金。本集团管理层定期根据历史结算记录及过往经验对其他应收款项的可收回性进行统一评估以及个别评估。本集团使用违约概率（「违约概率」）、违约风险敞口（「违约风险敞口」）及违约损失率（「违约损失率」）计量信贷风险。这与国际财务报告准则第9号项下计量预期信贷亏损（「预期信贷亏损」）所用方法类似。•初始确认时未发生信贷减值的其他应收款项被分类为「阶段1」且本集团会持续监控其信贷风险。预期信贷亏损按12个月基准计量。•倘于初始确认后发现信贷风险大幅增加（具体而言，当债务人的合约付款逾期一天以上），金融工具被移至「阶段2」，但仍未被视为已发生信贷减值。预期信贷亏损按整个存续期基准计量。•倘金融工具发生信贷减值（具体而言，当债务人的合约付款逾期90天以上），则金融工具被移至「阶段3」。预期信贷亏损按整个存续期基准计量。3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(b) Credit risk(continued)(ii) Impairment of financial assets(continued)Other receivablesOther receivables mainly include deposits for lease. Themanagement of the Group makes periodic collectiveassessments as well as individual assessment on therecoverability of other receivables based on historicalsettlement records and past experiences. The Group measurescredit risk using Probability of Default (“PD”), Exposure atDefault (“EAD”) and Loss Given Default (“LGD”). This is similarto the approach used for the purposes of measuring ExpectedCredit Loss (“ECL”) under IFRS 9.• Other receivables that are not credit-impaired on initialrecognition are classified in‘Stage 1’and have their creditrisk continuously monitored by the Group. The expectedcredit loss is measured on a 12-month basis.• If a significant increase in credit risk (specifically, whenthe debtor is more than 1 day past due on its contractualpayments) since initial recognition is identified, thefinancial instrument is moved to‘Stage 2’but is not yetdeemed to be credit-impaired. The expected credit loss ismeasured on lifetime basis.• If the financial instrument is credit-impaired (specifically,when the debtor is more than 90 days past due on itscontractual payments), the financial instrument is thenmoved to‘Stage 3’. The expected credit loss is measuredon lifetime basis.
二零二三年年报ANNUAL REPORT 2023227NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(b)信贷风险（续）(ii)金融资产减值（续）其他应收款项（续）鉴于过往曾与债务人合作及向债务人收款，本集团管理层认为，本集团所有其他应收款项于2023年及2022年12月31日均分类为阶段1，而本集团未偿还之其他应收款项固有的信贷风险并不重大。于2023年及2022年12月31日，所采用的平均亏损率分别为1.09%及1.14%。于损益内确认金融资产的减值亏损净额3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(b) Credit risk(continued)(ii) Impairment of financial assets(continued)Other receivables(continued)In view of the history of cooperation with the debtors andcollection from them, the management of the Group believesthat all of the Group’s other receivables are classified in Stage 1as at 31 December 2023 and 2022, and the credit risk inherentin the Group’s outstanding other receivables is not significant.The average loss rate applied as at the 31 December 2023 and2022 were 1.09% and 1.14% respectively.Net impairment losses on financial assets recognised in profitor lossYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Impairment losses:减值亏损：Impairment losses on trade receivables贸易应收款项减值亏损284,097Impairment losses on other receivables其他应收款项减值亏损717403Provision for impairment onfinancial assets金融资产减值拨备7454,500
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司228NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(c)流动资金风险本集团旨在维持足够的现金及现金等价物。由于相关业务的动态性质，本集团的财务部透过维持足够的现金及现金等价物来维持资金的灵活性。现金流量预测由本集团财务部进行。本集团财务部监控本集团流动资金需求的滚动预测，以确保其有足够的现金来满足运营需求以及对其他方的负债。下表根据结算日至合约到期日的剩余期限，将本集团的金融负债按照有关到期日分组进行分析。表中披露的金额为合约未贴现现金流量。3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(c) Liquidity riskThe Group aims to maintain sufficient cash and cash equivalents.Due to the dynamic nature of the underlying business, the Group’sfinance department maintains flexibility in funding by maintainingadequate cash and cash equivalents.Cash flow forecasting is performed by the finance department ofthe Group. The finance department of the Group monitors rollingforecasts of the Group’s liquidity requirements to ensure it hassufficient cash to meet operational needs as well as the liabilities toother parties.The table below analyses the Group’s financial liabilities intorelevant maturity groupings based on the remaining period at thebalance sheet date to the contractual maturity date. The amountsdisclosed in the table are the contractual undiscounted cash flows.
二零二三年年报ANNUAL REPORT 2023229NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.1财务风险因素（续）(c)流动资金风险（续）3 FINANCIAL RISK MANAGEMENT(continued)3.1 Financial risk factors(continued)(c) Liquidity risk(continued)Less than1 yearBetween 1and 2 yearsBetween2 and 5 yearsMore than5 yearsTotalcontractualcash flowsCarryingamount少于一年一至两年两至五年五年以上合约现金流量总额账面值RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元As at 31 December 2023于2023年12月31日Trade payables贸易应付款项444,944–––444,944444,944License fees payables应付授权费180,83011,2964,260728197,114194,200Other payables (excludingwages, salaries and otheremployee benefit and taxpayables)其他应付款项（不包括工资、薪金及其他雇员福利以及应付税项）309,376–––309,376309,376Borrowing借款15,093–––15,09315,058Lease liabilities租赁负债386,387219,157212,56562,046880,155777,753Total总计1,336,630230,453216,82562,7741,846,6821,741,331As at 31 December 2022于2022年12月31日Trade payables贸易应付款项259,006–––259,006259,006License fees payables应付授权费134,28218,3915,6981,457159,828154,823Other payables (excludingwages, salaries and otheremployee benefit and taxpayables)其他应付款项（不包括工资、薪金及其他雇员福利以及应付税项）201,871–––201,871201,871Lease liabilities租赁负债332,603219,372180,69875,344808,017741,131Total总计927,762237,763186,39676,8011,428,7221,356,831
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司230NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.2资本管理本集团管理资本之目的为维持其持续经营的能力，以便为本集团拥有人提供回报，并维持最佳的资本架构以提高拥有人的长期价值。本集团按照资本负债率监控资本。该比率按债务净额除以总资本计算。债务净额按借款总额减去现金及现金等价物计算。总资本按资产负债表所示「权益」加债务净额计算。于2023年12月31日，本集团并无债务净额。有关截至2023年及2022年12月31日止年度现金╱（债务）净额的对账，请参阅附注34(c)。3.3公平值估计本节阐释厘定于财务报表内按公平值确认及计量的金融工具之公平值时所作判断及估计。(a)金融资产及负债(i)公平值层级本节阐释厘定于财务报表内按公平值确认及计量的金融工具之公平值时所作判断及估计。为得出厘定公平值所用输入数据的可靠性指标，本集团已根据会计准则规定将其金融工具分类为三层。各层级之说明如下表所示。3 FINANCIAL RISK MANAGEMENT(continued)3.2 Capital managementThe Group’s objectives when managing capital are to safeguard theGroup’s ability to continue as a going concern in order to providereturns for owners of the Group and to maintain an optimal capitalstructure to enhance owners’value in the long term.The Group monitors capital on the basis of the gearing ratio. This ratiois calculated as net debt divided by total capital. Net debt is calculatedas total borrowings less cash and cash equivalents. Total capital iscalculated as‘equity’as shown in the balance sheet plus net debt. As at31 December 2023, the Group has no net debt. See Note 34(c) for thereconciliation of net cash/(debt) for the year ended 31 December 2023and 2022.3.3 Fair value estimationThis section explains the judgements and estimates made indetermining the fair values of the financial instruments that arerecognised and measured at fair value in the financial statements.(a) Financial assets and liabilities(i) Fair value hierarchyThis section explains the judgements and estimates made indetermining the fair values of the financial instruments thatare recognised and measured at fair value in the financialstatements. To provide an indication about the reliability of theinputs used in determining fair value, the Group has classifiedits financial instruments into the three levels prescribed underthe accounting standards. An explanation of each level followsunderneath the table.
二零二三年年报ANNUAL REPORT 2023231NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.3公平值估计（续）(a)金融资产及负债（续）(i)公平值层级（续）3 FINANCIAL RISK MANAGEMENT(continued)3.3 Fair value estimation(continued)(a) Financial assets and liabilities(continued)(i) Fair value hierarchy(continued)Level 1Level 2Level 3Total层级1层级2层级3总计RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元As at 31 December 2023于2023年12月31日Financial assets at fair valuethrough profit or loss按公平值计入损益的金融资产– In vestment in associatesmeasured at FVPL－按公平值计入损益的联营公司投资––227,477227,477– Private equity fund investments－私募股权基金投资––196,159196,159– Other unlisted investments－其他非上市投资––48,13348,133– Listed equity securities-stock－上市股本证券－股票8,415––8,415Total总计8,415–471,769480,184As at 31 December 2022于2022年12月31日Financial assets at fair valuethrough profit or loss按公平值计入损益的金融资产– In vestment in associatesmeasured at FVPL－按公平值计入损益的联营公司投资––231,808231,808– Private equity fund investments－私募股权基金投资––181,871181,871– Other unlisted investments－其他非上市投资––45,35545,355– Listed equity securities-stock－上市股本证券－股票12,829––12,829Total总计12,829–459,034471,863
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司232NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.3公平值估计（续）(a)金融资产及负债（续）(i)公平值层级（续）本集团采用估值方法分析以公平值列账的金融工具。不同的层级定义如下：层级1：在活跃市场买卖的金融工具（如公开交易之衍生工具及股本证券）之公平值乃基于报告期末的市场报价。本集团持有的金融资产使用的市场报价为当前买入价。该等工具列入层级1中。层级2：并非于活跃市场买卖的金融工具（如场外衍生工具）之公平值乃采用估值技术厘定，该等估值技术尽量使用可观察市场数据而极少依赖于实体的特定估计。倘计算工具之公平值所需的全部重大输入数据均为可观察数据，则该工具列入层级2中。层级3：如一项或多项重大输入数据并非根据可观察市场数据得出，则该工具列入层级3中。私募股权基金投资、其他非上市投资及按公平值计入损益的联营公司投资属于该种情况。有关本集团使用层级3输入数据进行公平值计量之金融资产及金融负债之进一步详情，见下文附注3.3(a)(ii)。3 FINANCIAL RISK MANAGEMENT(continued)3.3 Fair value estimation(continued)(a) Financial assets and liabilities(continued)(i) Fair value hierarchy(continued)The Group analyses the financial instruments carried at fairvalue by valuation method. The different levels have beendefined as follow:Level 1: The fair value of financial instruments traded in activemarkets (such as publicly traded derivatives, and equitysecurities) is based on quoted market prices at the end of thereporting period. The quoted market price used for financialassets held by the Group is the current bid price. Theseinstruments are included in level 1.Level 2: The fair value of financial instruments that are nottraded in an active market (for example, over-the-counterderivatives) is determined using valuation techniques whichmaximise the use of observable market data and rely aslittle as possible on entity-specific estimates. If all significantinputs required to fair value an instrument are observable, theinstrument is included in level 2.Level 3: If one or more of the significant inputs is not basedon observable market data, the instrument is included in level3. This is the case for private equity fund investment, otherunlisted investments and investment in associates measured atfair value through profit or loss. Further details of the Group’sfinancial assets and financial liabilities that are measure at fairvalue using level 3 inputs are given in Note 3.3(a)(ii) below.
二零二三年年报ANNUAL REPORT 2023233NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.3公平值估计（续）(a)金融资产及负债（续）(ii)使用重大不可观察输入数据进行公平值计量（层级3）年内公平值层级之间并无转移。下表列报层级3项目于截至2023年12月31日及2022年12月31日止期间的变动：3 FINANCIAL RISK MANAGEMENT(continued)3.3 Fair value estimation(continued)(a) Financial assets and liabilities(continued)(ii) Fair value measurements using significant unobservableinputs (Level 3)There were no transfers between the levels of fair valuehierarchy during this year.The following table presents the changes in level 3 items forthe periods ended 31 December 2023 and 31 December 2022:Investment inassociatesmeasuredat FVPLOtherunlistedinvestmentsPrivateequity fundinvestmentsInvestment inWealthManagementProducts(“WMPs”)Total按公平值计入损益计量的联营公司投资其他非上市投资私募股权基金投资理财产品（「理财产品」）投资总计RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元Opening balance at 1 January 2023于2023年1月1日的年初余额231,80845,355181,871–459,034Acquisitions收购––20,000792,601812,601Disposals出售––(719)(809,517)(810,236)Change in fair value公平值变动(4,331)2,778(4,993)16,91610,370Closing balance at 31 December 2023于2023年12月31日的年末结余227,47748,133196,159–471,769* includes unrealised (losses)/gains recognised inprofit or loss attributable to balances held atthe end of the reporting period*包括于损益中确认的报告期末持有结余应占未变现（亏损）╱收益(4,331)2,778(4,993)–(6,546)
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司234NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.3公平值估计（续）(a)金融资产及负债（续）(ii)使用重大不可观察输入数据进行公平值计量（层级3）（续）3 FINANCIAL RISK MANAGEMENT(continued)3.3 Fair value estimation(continued)(a) Financial assets and liabilities(continued)(ii) Fair value measurements using significant unobservableinputs (Level 3)(continued)Investment inassociatesmeasuredat FVPLOtherunlistedinvestmentsPrivateequity fundinvestmentsInvestment inWMPsTotal按公平值计入损益计量的联营公司投资其他非上市投资私募股权基金投资理财产品投资总计RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元Opening balance at 1 January 2022于2022年1月1日的年初余额207,76325,28995,636–328,688Acquisitions收购26,25019,53031,5001,437,7361,515,016Disposals出售––(1,166)(1,442,358)(1,443,524)Change in fair value公平值变动(2,205)53655,9014,62258,854Closing balance at 31 December 2022于2022年12月31日的年末结余231,80845,355181,871–459,034* includes unrealised (losses)/gains recognised inprofit or loss attributable to balances held atthe end of the reporting period*包括于损益中确认的报告期末持有结余应占未变现（亏损）╱收益(2,205)53655,901–54,232
二零二三年年报ANNUAL REPORT 2023235NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.3公平值估计（续）(a)金融资产及负债（续）(iii)估值技术、输入数据及与公平值的关系层级3之估值工具主要包括按公平值计入损益计量的联营公司投资、其他非上市投资及私募股权基金投资。由于该等工具并无于活跃市场进行买卖，其公平值透过采用多种可适用估值技术（包括贴现现金流量法及市场法等）厘定。下表概述使用层级3进行公平值计量之重大不可观察输入数据之定量资料：3 FINANCIAL RISK MANAGEMENT(continued)3.3 Fair value estimation(continued)(a) Financial assets and liabilities(continued)(iii) Valuation techniques, inputs and relationships to fairvalueThe valuation of the level 3 instruments mainly includedinvestments in associates measured at fair value through profitor loss, other unlisted investments, and private equity fundinvestments. As these instruments are not traded in an activemarket, their fair values have been determined by using variousapplicable valuation techniques, including discounted cashflows and market approach etc..The following table summarises the quantitative informationabout the significant unobservable inputs used in level 3 fairvalue measurements：Description描述Fair valueValuationTechniques估值技术Significant unobservableinputs重大不可观察输入数据Range of inputsRelationship of unobservableinputs to fair value不可观察输入数据与公平值的关系公平值输入数据范围As at 31 DecemberAs at 31 December于12月31日于12月31日20232022202320222023年2022年2023年2022年RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元Private equity fundinvestments私募股权基金投资196,159181,871Net asset value (1)资产净值(1)N/A不适用N/A不适用N/A不适用N/A不适用Investments in associates measuredat FVPL按公平值计入损益计量的于联营公司的投资17,32217,512Income approach (2)收益法(2)Weighted average cost ofcapital (“WACC”)加权平均资本成本18.00%18.00%Increased or decreased WACC by 10%would approximately decrease orincrease the fair value by RMB1,170,000(31 December 2022: RMB687,000)加权平均资本成本增加或减少10%，公平值将减少或增加约人民币1,170,000元（2022年12月31日：人民币687,000元）Terminal growth rate终期增长率2.00%2.30%Increased or decreased terminal growthrate by 10% would approximatelyincrease or decrease the fair valueby RMB77,000 (31 December 2022:RMB77,000)终期增长率上升或下降10%，公平值将增加或减少约人民币77,000元（2022年12月31日：人民币77,000元）Revenue growth rate收入增长率2.2%-66.2%7.7%-105.0%Increased or decreased revenue growthrate by 10% would approximatelyincrease or decrease the fairvalue by RMB510,000 (31 December2022:RMB693,000)收入增长率上升或下降10%，公平值将增加或减少约人民币510,000元（2022年12月31日：人民币693,000元）
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司236NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Description描述Fair valueValuationTechniques估值技术Significant unobservableinputs重大不可观察输入数据Range of inputsRelationship of unobservableinputs to fair value不可观察输入数据与公平值的关系公平值输入数据范围As at 31 DecemberAs at 31 December于12月31日于12月31日20232022202320222023年2022年2023年2022年RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元199,829214,296Market Approach(3)市场法(3)Price to sales(“PS”)、Enterprise value tosales(EV/S)、Discount forlack of marketability(“DLOM”)市销率、企业价值与销售额比率、缺乏适销性的折让率PS: 0.84-3.39 EV/S:0.34-3.48DLOM:21.0%-32.0%市销率：0.84-3.39企业价值与销售额比率：0.34-3.48缺乏适销性的折现率：21.0%-32.0%PS: 0.63-2.29 EV/S:0.30-4.29DLOM:20.0%-32.0%市销率：0.63-2.29企业价值与销售额比率：0.30-4.29缺乏适销性的折现率：20.0%-32.0%Increased or decreased PS by 10% wouldapproximately increase or decrease thefair value by RMB2,461,000 (31 December2022:1,645,000) Increased or decreasedEV/S by 10% would approximately increaseor decrease the fair value by RMB6,509,000(31 December 2022:4,759,000) Increased ordecreased DLOM by 10% wouldapproximately decrease or increase thefair value by RMB4,229,000 (31 December2022:3,124,000)市销率上升或下降10%，公平值将增加或减少约人民币2,461,000元（2022年12月31日：人民币1,645,000元）企业价值与销售额比率上升或下降10%，公平值将增加或减少约人民币6,509,000元（2022年12月31日：人民币4,759,000元）缺乏适销性的折让率上升或下降10%，公平值将减少或增加约人民币4,229,000元（2022年12月31日：人民币3,124,000元）10,326–Back-solve from recenttransaction price marketmultiple method (4)自近期交易价格倒推市场倍数法(4)Conversion/redemption/liquidation probability转换╱赎回╱清盘的可能性N/A不适用N/A不适用The higher probability of conversion withcorrespondingly lower probability ofliquidation and redemption,the lower the fairvalue转换的可能性越高，清盘及赎回的可能性越低，公平值越低。Subtotal小计227,477231,808Other unlisted investment其他非上市投资48,13345,355Market Approach(3)市场法(3)PS、DLOM市销率、缺乏适销性的折让率PS: 0.84-1.62 DLOM:20%-25%市销率：0.84-1.62缺乏适销性的折现率：20%-25%PS: 0.91-1.90 DLOM:22%-26%市销率：0.91-1.90缺乏适销性的折现率：22%-26%Increased or decreased PS by 10% wouldapproximately increase or decrease thefair value by RMB996,000 (31 December2022:RMB1,336,000) Increased or decreasedDLOM by 10% would approximately decreaseor increase the fair value by RMB210,000 (31December 2022: RMB426,000 )市销率上升或下降10%，公平值将增加或减少约人民币996,000元（2022年12月31日：人民币1,336,000元）缺乏适销性的折让率上升或下降10%，公平值将减少或增加约人民币210,000元（2022年12月31日：人民币426,000元）3 FINANCIAL RISK MANAGEMENT(continued)3.3 Fair value estimation(continued)(a) Financial assets and liabilities(continued)(iii) Valuation techniques, inputs and relationships to fairvalue(continued)3财务风险管理（续）3.3公平值估计（续）(a)金融资产及负债（续）(iii)估值技术、输入数据及与公平值的关系（续）
二零二三年年报ANNUAL REPORT 2023237NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注3财务风险管理（续）3.3公平值估计（续）(a)金融资产及负债（续）(iii)估值技术、输入数据及与公平值的关系（续）(1)本集团根据基金普通合伙人所汇报的私募股权基金资产净值以及按公平值计量之相关资产及负债，厘定其私募股权基金投资于2023年及2022年12月31日止年度的公平估值。(2)按公平值计入损益的联营公司的投资的公平值乃使用贴现现金流量法厘定，而不可观察输入数据主要包括对预期未来现金流量及贴现率的假设。(3)按公平值计入损益的联营公司的若干投资及其他非上市投资的公平值乃使用市场法厘定，可观察及不可观察输入数据包括市场倍数及缺乏市场流通性的折让。(4)按公平值计入损益的联营公司的若干投资的公平值乃使用最近交易价格倒推市场倍数法厘定，在该方法中，公平值乃按近期有关非上市公司股权交易中的隐含股权价值厘定。4关键会计估计及判断我们根据过往经验及其他因素（包括在有关情况下对未来事件作出相信属合理之预期）持续评估估计及判断。本集团就未来作出有关估计及假设。顾名思义，该等会计估计甚少与有关实际结果相同。有重大风险可能导致于下个财政年度内须对资产及负债之账面值作出重大调整之估计及假设讨论如下。3 FINANCIAL RISK MANAGEMENT(continued)3.3 Fair value estimation(continued)(a) Financial assets and liabilities(continued)(iii) Valuation techniques, inputs and relationships to fairvalue(continued)(1) The Group determines the fair valuation of its private equity fundinvestments as at the 31 December 2023 and 2022 based on thenet asset values of the private equity funds with underlying assetsand liabilities measured at fair value as reported by the generalpartners of the funds.(2) The fair value of investment in an associate measured at fair valuethrough profit or loss is determined by using the discountedcash flow method and unobservable inputs mainly includeassumptions of expected future cash flows and discount rate.(3) The fair values of certain investments in associates measured atfair value through profit or loss and other unlisted investment aredetermined by using the market approach and the combinationof observable and unobservable inputs include market multiplesand discount for lack of marketability.(4) The fair values of certain investments in associates measured atfair value through profit or loss are determined by using the Back-solve from recent transaction price market multiple method, inwhich method the fair value is determined by the implied equityvalue derived from a recent transaction in the respective unlistedcompany’s equity.4 CRITICAL ACCOUNTING ESTIMATES ANDJUDGMENTSEstimates and judgments are continually evaluated and are based onhistorical experience and other factors, including expectations of futureevents that are believed to be reasonable under the circumstances.The Group makes estimates and assumptions concerning the future.The resulting accounting estimates will, by definition, seldom equalthe related actual results. The estimates and assumptions that have asignificant risk of causing a material adjustment to the carrying amountsof assets and liabilities within the next financial year are discussedbelow.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司238NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注4关键会计估计及判断（续）(a)存货减值拨备存货的减值拨备估计涉及管理层的重大判断，该等判断需考虑相关存货的账龄结构、未来销售预测、预估未来售价及销售开支等关键因素。管理层于每个结算日重新评估存货减值拨备的该等预测。(b)授权IP及IP产权的可使用年期本集团拥有授权IP及IP产权，主要用于设计及销售潮流玩具。根据合约及预期的经济利益，本集团估计该等授权IP及IP产权的可使用年期为两至十年。然而，实际的可使用年期可能短于或长于管理层的估计，其取决于市场竞争情况。定期检讨可能导致可使用年期发生变动，从而导致未来期间的摊销开支变动。(c)当期和递延所得税日常业务过程中存在若干不能确定最终税项的交易及计算。本集团根据对是否需要缴付额外税项的估计确认负债。倘该等事宜的最终税务结果有别于初步入账的金额，则有关差额将于作出有关厘定期内的所得税开支及递延税项拨备中反映。另外，未来所得税资产的变现取决于本集团未来年度产生充足应课税收入的能力，以使用所得税优惠及税项亏损结转。未来盈利能力偏离估计或所得税税率的偏离将造成对未来所得税资产及负债的价值进行调整，这可能对所得税开支产生重大影响。4 CRITICAL ACCOUNTING ESTIMATES ANDJUDGMENTS(continued)(a) Impairment provision for inventoriesThe estimation of impairment provision for inventories involvessignificant management judgment based on the consideration ofkey factors such as aging profile, future sales projection, estimatedfuture selling prices and selling expenses of the respective inventories.Management reassesses these estimations of impairment provision forinventories at each balance sheet date.(b) Useful lives of Licensed IPs and IP rightsThe Group has Licensed IPs and IP rights that are primarily used todesign and sell pop toys. The Group estimates the useful life of theseLicensed IPs and IP rights to be 2-10 years based on the contract andexpected economic benefit. However, the actual useful life may beshorter or longer than management’s estimate, depending on themarket competition. Periodic review could result in a change in usefullives and therefore amortisation expense in future periods.(c) Current and deferred income taxesThere are certain transactions and calculations for which the ultimate taxdetermination is uncertain during the ordinary course of business. TheGroup recognises liabilities based on estimates of whether additionaltaxes will be due. Where the final tax outcome of these matters isdifferent from the amounts that were initially recorded, such differenceswill be reflected in the income tax expense and deferred tax provisionsin the period in which such determination is made. In addition, therealisation of future income tax assets is dependent on the Group’sability to generate sufficient taxable income in future years to utiliseincome tax benefits and tax loss carry-forwards. Deviations of futureprofitability from estimates or in the income tax rate would result inadjustments to the value of future income tax assets and liabilities thatcould have a significant effect on the income tax expenses.
二零二三年年报ANNUAL REPORT 2023239NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注4关键会计估计及判断（续）(c)当期和递延所得税（续）支付予本公司中国大陆附属公司外国投资者的股息须按10%税率缴纳预扣税。本集团定期评估自中国大陆附属公司作出分派的需要。就此而言，预扣税将于分派股息的期间或就预期于未来进行分派的未分派股息计提拨备。(d)金融资产的公平值未在活跃市场交易的金融资产的公平值采用估值法厘定。这些方法包括使用相关私募股权基金提供的资产净值、近期投资的价格、现金流贴现模型及市场法等。在可行的情况下，模型使用可观察到的数据。本团主要根据报告期末的市场情况，判断选择各种方法并做出假设。详情请参阅附注3.3。5分部资料本集团主要于中国内地、港澳台及若干海外国家及地区（「港澳台及海外」）从事潮流玩具的产品设计与开发及销售。主要经营决策者（「主要经营决策者」）审阅本集团的内部报告，以评估表现及分配资源。管理层根据该等报告厘定经营分部。4 CRITICAL ACCOUNTING ESTIMATES ANDJUDGMENTS(continued)(c) Current and deferred income taxes(continued)Dividends derived from the Company’s subsidiaries in Mainland Chinato foreign investors are subject to withholding tax at the rate of 10%.The Group regularly assesses its needs to make distributions out of itssubsidiaries in Mainland China. In this regard, withholding tax will beprovided in the period in which dividends are distributed or on theundistributed profits to the extent they are expected to be distributed inforeseeable future.(d) Fair value of financial assetsThe fair value of financial assets that are not traded in active markets isdetermined using valuation techniques. These techniques include theuse of the net assets value provided by the respective private equityfunds, price of recent investments, discounted cash flow model andmarket approach, etc. To the extent practical, models use observabledata. The Group uses its judgement to select a variety of methods andmake assumptions that are mainly based on market conditions existingat the end of the reporting period. For details, please refer to Note 3.3.5 SEGMENT INFORMATIONThe Group is principally engaged in brand development, design andsales of toys in Mainland China, Hong Kong, Macao, Taiwan and certainoverseas countries and regions (“Hong Kong, Macao, Taiwan andOverseas”). The chief operating decision makers (“CODM”) reviews theGroup’s internal reporting in order to assess performance and allocateresources. Management has determined the operating segments basedon these reports.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司240NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注5分部资料（续）地区分部指在某个特定经济环境中从事提供产品或服务，而所承受的风险及获得的回报有别于在其他经济环境中经营的分部。截至2023年12月31日止年度，本集团的港澳台及海外业务保持高速增长。因此，有关中国内地业务及港澳台及海外业务的财务表现及财务状况的若干措施向主要经营决策者单独汇报。因此，本集团可呈报分部的组成发生变化。于2023年12月31日及截至该日止年度，本集团有两个可呈报分部：•中国内地业务；及•港澳台及海外业务。主要经营决策者主要根据收入、毛利及分部业绩来评估经营分部的表现。外部客户向主要经营决策者呈报其收入作为分部收入计量，即各分部来自客户的收入。分部毛利按分部收入减去分部销售成本计算。分部业绩指各分部所赚取的经营溢利，不计及若干未分配项目，主要包括本集团总部、IP部、研发部、IT部和共享服务中心应占若干开支。由于主要经营决策者并不使用此资料以分配资源予经营分部或评估其表现，故并无向主要经营决策者单独提供分部资产及分部负债资料。5 SEGMENT INFORMATION(continued)A geographical segment is engaged in providing products or serviceswithin a particular economic environment, which are subject to risksand returns that are different from those of segments operating in othereconomic environments. During the year ended 31 December 2023, theGroup’s operations in Hong Kong, Macao, Taiwan and Overseas havebeen growing at a high rate. As a result, certain measures in relation tothe financial performance and financial condition of the Mainland Chinaoperations and the Hong Kong, Macao, Taiwan and Overseas operationsare reported to the CODM on a separate basis. As a result, there hasbeen a change in the composition of the reportable segments of theGroup.As at 31 December 2023 and for the year then ended, the Group hadtwo reportable segments:• The Mainland China operations; and• Hong Kong, Macao, Taiwan and Overseas operations.The CODM assesses the performance of the operating segments mainlybased on revenue, gross profit and segment results. The revenue fromexternal customers reported to CODM is measured as segment revenue,which is the revenue derived from customers in each segment. Thesegment gross profit is calculated as segment revenue minus segmentcost of sales. Segment results represent the operating profit earnedby each segment excluding certain unallocated items which mainlyinclude certain expenses attributable to head office, IP department, R&Ddepartment, IT department and shared service center of the Group.There were no separate segment assets and segment liabilitiesinformation provided to the CODM as CODM does not use thisinformation to allocate resources to or evaluate the performance of theoperating segments.
二零二三年年报ANNUAL REPORT 2023241NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注5分部资料（续）向主要经营决策者提供的截至2023年12月31日止年度及截至2022年12月31日止年度之可呈报分部的分部业绩以及综合损益及其他全面收益表中载列的其他项目分别如下：5 SEGMENT INFORMATION(continued)The segment results and other items included in the consolidatedstatement of profit or loss and other comprehensive income provided tothe CODM for the reportable segments for the year ended 31 December2023 and the year ended 31 December 2022, respectively are as follows:Year ended 31 December截至12月31日止年度202320222023年2022年TheMainlandChinaoperationsHong Kong,Macao,Taiwan andOverseasoperationsTotalTheMainlandChinaoperationsHong Kong,Macao,Taiwan andOverseasoperationsTotal中国内地业务港澳台及海外业务总计中国内地业务港澳台及海外业务总计RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元Total revenue before inter-segment elimination分部间抵销前的总收入5,810,5631,066,1016,876,6644,285,572453,9384,739,510Inter-segment revenue分部间收入(575,662)–(575,662)(122,186)–(122,186)Revenue from external customers来自外部客户的收入5,234,9011,066,1016,301,0024,163,386453,9384,617,324Cost of sales销售成本(2,062,904)(374,027)(2,436,931)(1,756,131)(206,650)(1,962,781)Gross profit毛利3,171,997692,0743,864,0712,407,255247,2882,654,543Segment results分部业绩1,239,503191,5561,431,059605,37156,207661,578Unallocated expenses and other gains/losses未分配费用及其他收益╱亏损(200,413)(78,198)Finance income – net财务收入－净额151,88029,103Share of profit of investments accounted forusing the equity method分占使用权益法入账的投资溢利33,22927,046Profit before income tax除所得税前溢利1,415,755639,529
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司242NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Year ended 31 December截至12月31日止年度202320222023年2022年TheMainlandChinaoperationsHong Kong,Macao,Taiwan andOverseasoperationsTotalTheMainlandChinaoperationsHong Kong,Macao,Taiwan andOverseasoperationsTotal中国内地业务港澳台及海外业务总计中国内地业务港澳台及海外业务总计RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元Income tax expense所得税开支(326,984)(163,728)Profit for the year年内溢利1,088,771475,801Significant non-cash expenses重大非现金开支Depreciation on property, plant and equipment物业、厂房及设备折旧220,79112,500233,291192,0341,888193,922Depreciation of right-of-use assets使用权资产折旧313,79234,598348,390318,29611,828330,124Amortisation of intangible assets无形资产摊销79,6147,27086,88478,8331,93880,771As at 31 December 2023 and 2022, information about the Group’s non-current assets (other than financial assets at fair value through profit orloss and deferred tax assets) which is presented based on geographicallocation of the assets, is as follow:As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元The Mainland China operations中国内地业务1,434,0421,340,207Hong Kong, Macao, Taiwan and Overseasoperations港澳台及海外业务296,16784,3095 SEGMENT INFORMATION(continued)5分部资料（续）于2023年及2022年12月31日，有关本集团非流动资产（按公平值计入损益的金融资产及递延税项资产除外）的资料按资产地理位置呈列如下：
二零二三年年报ANNUAL REPORT 2023243NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注6收益按业务线划分的收益明细如下：6 REVENUEBreakdown of revenue by business lines is as follows:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Revenue from the Mainland China operations来自中国内地业务的收益Revenue from retail store sales零售店销售收益2,479,2431,691,112Revenue from online sales线上销售收益1,710,4691,829,809Revenue from roboshop sales机器人商店销售收益548,572378,830Revenue from wholesales and others批发及其他收益496,617263,635Subtotal小计5,234,9014,163,386Revenue from Hong Kong, Macao, Taiwan andOverseas operations来自港澳台及海外业务的收益Revenue from retail store sales零售店销售收益582,909135,559Revenue from online sales线上销售收益155,80590,224Revenue from roboshop sales机器人商店销售收益57,37815,209Revenue from wholesales批发及其他收益270,009212,946Subtotal小计1,066,101453,938Total总计6,301,0024,617,324
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司244NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注6收益（续）截至2023年及2022年12月31日止年度，并无由单一客户的交易产生的收益占本集团总收益10%或以上。6 REVENUE(continued)Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Revenue收益Point-in-time于某个时间点6,278,8434,617,324Over-time随时间22,159–Total总计6,301,0024,617,324Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Revenue收益Revenue recognised on a gross basis按总额基准确认收益6,301,0024,617,324For the years ended 31 December 2023 and 2022, no revenue derivedfrom transactions with a single customer represent 10% or more of theGroup’s total revenue.
二零二三年年报ANNUAL REPORT 2023245NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注7按性质划分的开支7 EXPENSES BY NATUREYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Cost of inventories included in cost of sales计入销售成本的存货成本2,042,6721,693,530Employee benefit expenses (Note 33)雇员福利开支（附注33）1,048,487853,595Depreciation of right-of-use assets (Note 16)使用权资产折旧（附注16）348,390330,124Commissions and E-commerce platform servicecharges佣金及电商平台服务费279,986137,070Advertising and marketing expenses广告及营销开支269,650233,421Depreciation on property, plant and equipment(Note 14)物业、厂房及设备折旧（附注14）233,291193,922Expenses relating to short-term leases andvariable leases not included in lease liabilities未计入租赁负债的与短期租赁及可变租赁有关的开支185,89379,207Transportation and logistics expenses运输及物流开支169,803182,703Design and license fees设计及授权费156,92184,026Amortisation of intangible assets (Note 15)无形资产摊销（附注15）86,88480,771Taxes and surcharges税金及附加费45,04728,027Cost of moulds with useful lives within one year使用年限为一年内的模具成本26,13818,135Impairment of inventory存货减值8,0163,692Auditor’s remuneration核数师酬金6,0305,893– Audit services－审计服务5,1004,500– Non-audit services－非审计服务9301,393Others其他241,729195,698Total总计5,148,9374,119,814
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司246NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注8其他收入(i)有关金额指政府补贴，与对当地经济增长作出贡献而自当地政府收到的收入有关。该等补贴于收到后于综合损益及其他全面收益表确认。概无与该等补贴有关的未达成条件或或然事项。9其他收益－净额8 OTHER INCOMEYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Income from license fee and other services授权费及其他服务收入43,00833,156Government grants (i)政府补贴(i)30,90911,601Others其他983815Total总计74,90045,572(i) The amounts represent government grants related to income which arereceived from the local government for the contribution to the localeconomic growth. These grants are recognised in the consolidatedstatement of profit or loss and other comprehensive income upon thereceipt. There are no unfulfilled conditions or contingencies relating to thesegrants.9 OTHER GAINS- NETYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Changes in fair value of financial instruments atFVPL (Note 23)按公平值计入损益的金融工具公平值变动（附注23）6,11149,479Donation捐款(2,654)(3,273)Exchange gain/(loss)汇兑收益╱（亏损）1,501(556)Others其他(532)(852)Total总计4,42644,798
二零二三年年报ANNUAL REPORT 2023247NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注10财务收入－净额11所得税开支(a)开曼群岛及英属维京群岛所得税本公司根据开曼群岛公司法于开曼群岛注册成立为获豁免有限公司，根据开曼群岛现行法律，本公司无须缴纳开曼群岛所得税。根据英属维京群岛现行法律，根据英属维京群岛商业公司法注册成立或注册的集团实体获豁免缴纳英属维京群岛所得税。10 FINANCE INCOME- NETYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Finance income财务收入– Interest income－利息收入184,21767,682Finance expenses财务开支– Interest expenses on lease liabilities－租赁负债利息开支(30,754)(34,057)– Interest expenses on license fees payables－应付授权费利息开支(1,583)(4,522)Finance income -net财务收入－净额151,88029,10311 INCOME TAX EXPENSEYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Current income tax即期所得税330,124194,032Deferred income tax (Note 19)递延所得税（附注19）(3,140)(30,304)Income tax expense所得税开支326,984163,728(a) Cayman Island and BVI Income TaxThe Company was incorporated in the Cayman Islands as an exemptedcompany with limited liability under the Companies Law of the CaymanIslands and is not subject to the Cayman Island income tax pursuant tothe current laws of the Cayman Islands. The Group entity incorporatedor registered under the Business Companies Act of BVI are exemptedfrom BVI income tax pursuant to the current laws of the BVI.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司248NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注11所得税开支（续）(b)香港利得税根据两级制利得税税率制度，合资格集团实体的首2百万港元溢利将按8.25%的税率征税，而2百万港元以上的溢利将按16.5%的税率征税。不符合两级制利得税税率制度的集团实体的溢利将继续按统一税率16.5%征税。截至2023年12月31日止年度，本集团已就估计应课税溢利按16.5%的税率计提香港利得税拨备（2022年：16.5%）。(c)中国内地企业所得税（「企业所得税」）本集团就中国内地业务的所得税拨备根据截至2023年12月31日止年度的估计应课税溢利按25%的税率（截至2022年12月31日止年度：25%）计算，并基于中国的现行法例、诠释及惯例而定。集团实体已获中国内地税务机关授予小规模纳税实体的若干税收优惠，据此在各自司法权区经营的附属公司有权享受税收优惠。(d)中国内地预扣税（「预扣税」）根据适用的中国内地税收法规，在中国内地成立的公司就于2008年1月1日之后产生的溢利向外国投资者分派的股息通常须缴纳10%的预扣税。倘于香港注册成立的外国投资者满足中国内地与香港之间订立的双边税务条约安排项下的条件及规定，则相关的预扣税税率将为5%。于2023年12月31日，本集团在中国内地注册成立的附属公司的未分配盈利总额为人民币2,649,591,000元（于2022年12月31日：人民币2,040,482,000元）。董事认为，该等附属公司不大可能于可预见的将来分配该等盈利，并且本公司有能力控制该等附属公司分配盈利的时间。因此，尽管存在该等保留盈利的应课税暂时性差额，但并未于综合财务报表确认任何递延所得税负债。11 INCOME TAX EXPENSE(continued)(b) Hong Kong Profits TaxUnder the two-tiered profits tax rates regime, the first HK$2 million ofprofits of the qualifying group entities will be taxed at 8.25%, and profitsabove HK$2 million will be taxed at 16.5%. The profits of the Groupentities not qualifying for the two-tiered profits tax rates regime willcontinue to be taxed at a flat rate 16.5%. Hong Kong profits tax has beenprovided at the rate of 16.5% on the Group’s estimated assessable profitfor the year ended 31 December 2023 (2022: 16.5%).(c) Mainland China Corporate Income Tax (“CIT”)The income tax provision of the Group in respect of operations inthe Mainland China has been calculated at the tax rate of 25% on theestimated assessable profit for the years ended 31 December 2023 (theyear ended 31 December 2022: 25%), based on the existing legislation,interpretations and practices in respect thereof.A group entity has been granted certain tax concessions to smallscale entities by tax authorities in the Mainland China whereby thesubsidiaries operating in the respective jurisdictions are entitled to taxconcessions.(d) Mainland China Withholding Tax (“WHT”)According to the applicable Mainland China tax regulations, dividendsdistributed by a company established in the Mainland China to a foreigninvestor with respect to profit derived after 1 January 2008 are generallysubject to a 10% WHT. If a foreign investor incorporated in Hong Kongmeets the conditions and requirements under the double taxation treatyarrangement entered into between the Mainland China and Hong Kong,the relevant withholding tax rate will be 5%.As at 31 December 2023, the aggregate undistributed earnings ofthe Group’s subsidiaries incorporated in the Mainland China areRMB2,649,591,000 (as at 31 December 2022: RMB2,040,482,000). In theopinion of the directors, it is not probable that these subsidiaries willdistribute such earnings in the foreseeable future, and that the Companyhas the ability to control the timing of the distribution from thesesubsidiaries. Accordingly, despite an assessable temporary difference onsuch retained earnings exists, no deferred income tax liability has beenrecognised in the consolidated financial statements.
二零二三年年报ANNUAL REPORT 2023249NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注11所得税开支（续）(e)经济合作与发展组织（「OECD」）支柱二立法适用于过去四年中至少两年的合并收益达到750百万欧元的跨国企业（根据OECD的定义，包括任何形式的收入，因此不限于根据国际财务报告准则第15号确认的收益）。截至2023年12月31日，由于本公司不符合上述条件，本集团不属于OECD支柱二立法范本的范围。本集团无相关当期税务风险。本集团的实际税收费用与根据中国大陆法定所得税税率25%计算的金额之间的对账如下：(i)截至2023年12月31日止年度期间，不可扣税开支主要包括以股份为基础的报酬开支人民币101,748,000元（2022年：人民币97,739,000元）（附注33）。11 INCOME TAX EXPENSE(continued)(e)The Organisation for Economic Co-operation and Development (“OECD”)Pillar Two rules apply to multinational enterprises that have consolidatedrevenues (which, as defined by the OECD, include any form of incomeand are therefore not limited to revenue recognised in accordance withIFRS 15) of EUR750 million in at least two out of the last four years. As at31 December 2023, the Group is not within the scope of the OECD PillarTwo model rules as the Company did not meet above condition. TheGroup has no related current tax exposure.The reconciliation between the Group’s actual tax charges and theamount which is calculated based on the statutory income tax rate of25% in the Mainland China is as follows:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Profit before income tax除所得税前溢利1,415,755639,529Tax calculated at applicable tax rate of 25%按适用税率25%计算的税项353,939159,882Tax loss for which no deferred income taxasset is recognised未确认递延所得税资产的税项亏损756334Share of profit of investments accounted forusing equity method分占使用权益法入账的投资溢利(8,307)(6,762)Expenses not deductible for taxation purposes(i)不可扣税开支(i)26,07724,897Income not subject to tax无须课税收入(43,409)(12,455)Impact of different tax rate不同税率的影响(2,072)(2,168)Taxation charge税收费用326,984163,728(i) During the year ended 31 December 2023, expenses not deductible fortaxation purposes mainly include the Share-based compensation expensesof RMB101,748,000 (2022: RMB97,739,000) (Note 33).
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司250NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注12股息于2023年派付的股息总额为人民币117,317,000元或每股人民币8.70分（2022年：人民币209,490,000元或每股人民币15.24分）（扣除就受限制股份单位计划持有的股份应占股息人民币1,678,000元（2022年：人民币3,500,000元））。董事会建议就截至2023年12月31日止年度派付末期股息每股本公司已发行普通股人民币28.21分，根据截至本综合财务报表批准日期本公司已发行股本总数计算，相当于合共约为人民币378,840,000元。倘于派息记录日期前本公司已发行股本总数有所变动，则股息将按每股分派而分派总额将相应调整。拟派股息并未于综合财务报表中反映为应付股息，而将反映为截至2024年12月31日止年度的拨入可分派储备。13每股盈利(a)每股基本盈利每股基本盈利乃截至2023年及2022年12月31日止年度，本公司拥有人应占溢利除以已发行普通股加权平均数减就股份奖励计划所持股份及本公司购回以注销之股份之差而计算得出。12 DIVIDENDSThe total dividends paid in 2023 amounted to RMB117,317,000 orRMB8.70 cents per share (2022: RMB209,490,000 or RMB15.24 centsper share) (which are net of the dividend of RMB1,678,000 (2022:RMB3,500,000) attributable to the shares held for the RSU Scheme).The Board recommended the payment of a final dividend of RMB28.21cents per ordinary share of the Company issued for the year ended 31December 2023, representing an aggregate amount of RMB378,840,000based on the total issued share capital of the Company as of the dateof approval of this consolidated financial statements. In the event ofchange in the total issued share capital of the Company before therecord date for dividend payment, dividends will be distributed pershare and the total distribution amount will be adjusted accordingly.The proposed dividend is not reflected as a dividend payable inthe consolidated financial statements, but will be reflected as anappropriation of distributable reserves for the year ending 31 December2024.13 EARNINGS PER SHARE(a) Basic earnings per shareBasic earnings per share is calculated by dividing the profit attributableto owners of the Company by the weighted average number of ordinaryshares in issue less shares held for Share Award Scheme and sharesrepurchased by the Company for cancellation during the year ended 31December 2023 and 2022.Year ended 31 December截至12月31日止年度202320222023年2022年Profit attributable to owners of the Company(RMB’000)本公司拥有人应占溢利（人民币千元）1,082,344475,660Weighted average number of ordinary shares inissue less shares held for Share Award Schemeand shares repurchased by the Company forcancellation (in thousands)已发行普通股加权平均数减就股份奖励计划所持股份及本公司购回以注销之股份之差（千股）1,338,0351,365,984Basic earnings per share (expressed in RMB pershare)每股基本盈利（以每股人民币元表示）0.810.35
二零二三年年报ANNUAL REPORT 2023251NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注13每股盈利（续）(b)每股摊薄盈利截至2023年12月31日及2022年12月31日止年度每股摊薄盈利的计算载列如下：截至2023年及2022年12月31日止年度，每股摊薄盈利乃以假设所有具摊薄影响的潜在普通股获转换后调整发行在外普通股的加权平均数计算。本公司具潜在摊薄影响的普通股包含根据首次公开发售后股份奖励计划已授予及假设已归属的股份。计算时乃根据首次公开发售后股份奖励计划授予的已发行股份（定义为「受限制股份」）所附认购权的货币价值，厘定可按公平值（按本公司股份的年内平均市价厘定）购买的股份数目。根据上述方法计得的股数与假设行使受限制股份所发行的股数比较。13 EARNINGS PER SHARE(continued)(b) Dilute earnings per shareThe calculation of diluted earnings per share for the years ended 31December 2023 and ended 31 December 2022 is set out below:Year ended 31 December截至12月31日止年度202320222023年2022年Profit attributable to owners of the Company(RMB’000)本公司拥有人应占溢利（人民币千元）1,082,344475,660Profit used to determine diluted earnings pershare (RMB’000)用于厘定每股摊薄盈利的溢利（人民币千元）1,082,344475,660Weighted average number of ordinary shares inissue less shares held for Share Award Schemeand shares repurchased by the Company forcancellation (in thousands)已发行普通股加权平均数减股份奖励计划所持股份及本公司购回以注销之股份之差（千股）1,338,0351,365,984Adjustment for调整– Restricted Shares granted and assumedvested (in thousands)－已授出及假设已归属受限制股份（千股）2,471557Weighted average number of shares for dilutedearnings per share (in thousands)每股摊薄盈利股份加权平均数（千股）1,340,5061,366,541Dilute earnings per share (expressed in RMB pershare)每股摊薄盈利（以每股人民币元表示）0.810.35For the years ended 31 December 2023 and 2022, diluted earningsper share is calculated by adjusting the weighted average numberof ordinary shares outstanding to assume conversion of all dilutivepotential ordinary shares. The Company’s potentially dilutive ordinaryshares comprised shares which may be granted and assumed vestedunder the Post-IPO Share Award Scheme. A calculation is done todetermine the number of shares that could have been acquired at fairvalue (determined as the average annual market price of the Company’sshares) based on the monetary value of the subscription rights attachedto the outstanding shares granted under the Post-IPO Share AwardScheme (defined as the“Restricted Shares”). The number of sharescalculated as above is compared with the number of shares that wouldhave been issued assuming the exercise of the Restricted Shares.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司252NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注14物业、厂房及设备14 PROPERTY, PLANT AND EQUIPMENTRoboshopmachinesMouldsEquipmentand othersLeaseholdimprovementConstruction-in-progressTotal机器人商店售货机模具设备及其他租赁装修在建工程总计RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元As at 31 December 2022于2022年12月31日Cost成本99,009196,70543,071414,41666,952820,153Accumulated depreciation累计折旧(45,199)(91,505)(16,716)(217,382)–(370,802)Impairment for fixed assets固定资产减值–––(467)–(467)Net book amount账面净值53,810105,20026,355196,56766,952448,884Year ended 31 December 2023截至2023年12月31日止年度Opening net book amount年初账面净值53,810105,20026,355196,56766,952448,884Additions添置11,26093,65515,850118,150200,875439,790Transfer转拨–––267,356(267,356)–Depreciation charge折旧费用(19,185)(80,002)(8,545)(125,559)–(233,291)Disposal出售(2,560)(46)(406)––(3,012)Currency translation difference货币换算差额(23)–21909–907Closing net book amount年末账面净值43,302118,80733,275457,423471653,278As at 31 December 2023于2023年12月31日Cost成本106,487271,58058,409777,0714711,214,018Accumulated depreciation累计折旧(63,185)(152,773)(25,134)(319,648)–(560,740)Net book amount账面净值43,302118,80733,275457,423471653,278
二零二三年年报ANNUAL REPORT 2023253NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注14物业、厂房及设备（续）14 PROPERTY, PLANT AND EQUIPMENT(continued)RoboshopmachinesMouldsEquipmentand othersLeaseholdimprovementConstruction-in-progressTotal机器人商店售货机模具设备及其他租赁装修在建工程总计RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元As at 31 December 2021于2021年12月31日Cost成本86,988151,96333,046305,2077,388584,592Accumulated depreciation累计折旧(27,936)(69,633)(8,900)(111,842)–(218,311)Net book amount账面净值59,05282,33024,146193,3657,388366,281Year ended 31 December 2022截至2022年12月31日止年度Opening net book amount年初账面净值59,05282,33024,146193,3657,388366,281Additions添置12,02185,20010,560112,00759,564279,352Depreciation charge折旧费用(17,263)(60,600)(8,129)(107,930)–(193,922)Impairment for fixed assets固定资产减值–––(467)–(467)Disposal出售–(1,730)(242)(588)–(2,560)Currency translation difference货币换算差额––20180–200Closing net book amount年末账面净值53,810105,20026,355196,56766,952448,884As at 31 December 2022于2022年12月31日Cost成本99,009196,70543,071414,41666,952820,153Accumulated depreciation累计折旧(45,199)(91,505)(16,716)(217,382)–(370,802)Impairment for fixed assets固定资产减值–––(467)–(467)Net book amount账面净值53,810105,20026,355196,56766,952448,884
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司254NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注14物业、厂房及设备（续）(a)物业、厂房及设备折旧已自综合损益及其他全面收益表扣除，如下所示：14 PROPERTY, PLANT AND EQUIPMENT(continued)(a) Depreciation on property, plant and equipment has beencharged to the consolidated statement of profit or loss and othercomprehensive income as follows:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Cost of sales销售成本80,00260,600Distribution and selling expenses经销及销售开支145,735126,993General and administrative expenses一般及行政开支7,5546,329233,291193,922
二零二三年年报ANNUAL REPORT 2023255NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注15无形资产15 INTANGIBLE ASSETSLicensed IPs(Note a)IP rightsSoftwareGoodwillTotal授权IP（附注a）IP产权软件商誉总计RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元At 31 December 2022于2022年12月31日Cost成本283,41124,44022,018104329,973Accumulated amortisation累计摊销(161,033)(13,981)(8,165)–(183,179)Impairment减值(287)–––(287)Closing net book amount年末账面净值122,09110,45913,853104146,507Year ended 31 December 2023截至2023年12月31日止年度Opening net book amount年初账面净值122,09110,45913,853104146,507Additions添置50,342–6,304–56,646Amortisation charge摊销费用(78,054)(1,631)(7,199)–(86,884)Disposal出售(394)–––(394)Currency translation difference货币换算差额42–(28)(1)13Closing net book amount年末账面净值94,0278,82812,930103115,888At 31 December 2023于2023年12月31日Cost成本326,80124,44028,288103379,634Accumulated amortisation累计摊销(232,774)(15,612)(15,358)–(263,746)Closing net book amount年末账面净值94,0278,82812,930103115,888
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司256NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注15无形资产（续）15 INTANGIBLE ASSETS(continued)Licensed IPs(Note a)IP rightsSoftwareGoodwillTotal授权IP（附注a）IP产权软件商誉总计RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元At 31 December 2021于2021年12月31日Cost成本205,84119,66311,010101236,615Accumulated amortisation累计摊销(87,496)(11,714)(3,086)–(102,296)Impairment减值(287)–––(287)Closing net book amount年末账面净值118,0587,9497,924101134,032Year ended 31 December 2022截至2022年12月31日止年度Opening net book amount年初账面净值118,0587,9497,924101134,032Additions添置77,5454,77711,008–93,330Amortisation charge摊销费用(73,425)(2,267)(5,079)–(80,771)Currency translation difference货币换算差额(87)––3(84)Closing net book amount年末账面净值122,09110,45913,853104146,507At 31 December 2022于2022年12月31日Cost成本283,41124,44022,018104329,973Accumulated amortisation累计摊销(161,033)(13,981)(8,165)–(183,179)Impairment减值(287)–––(287)Closing net book amount年末账面净值122,09110,45913,853104146,507
二零二三年年报ANNUAL REPORT 2023257NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注15无形资产（续）附注：(a)有关金额指本集团根据有关授权协议取得的独家及非独家授权。于初步确认后，授权IP按固定最低付款的现值确认，相应金额确认为应付授权费（附注30）。(b)无形资产摊销已自综合损益及其他全面收益表扣除，如下所示：16租赁(a)资产负债表内确认之金额资产负债表列示以下与租赁有关的金额：15 INTANGIBLE ASSETS(continued)Notes:(a) The amounts represent the exclusive and non-exclusive license rightsobtained by the Group in accordance with the respective licenseagreements. Upon initial recognition, the Licensed IPs are recognised atthe present values of the fixed minimum payments with the correspondingamounts recognised as license fees payables (Note 30).(b) Amortisation of intangible assets has been charged to the consolidatedstatement of profit or loss and other comprehensive income as follows:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Cost of sales销售成本79,68575,692General and administrative expenses一般及行政开支7,1995,07986,88480,77116 LEASES(a) Amounts recognised in the balance sheetThe balance sheet shows the following amounts relating to leases:As at December于12月202320222023年2022年RMB’000RMB’000人民币千元人民币千元Right-of-use assets使用权资产Offices and warehouses办公室及仓库92,319113,140Retail stores零售店542,481487,797POP LAND泡泡玛特城市乐园91,253100,690726,053701,627Lease liabilities租赁负债Current流动351,799293,567Non-current非流动425,954447,564777,753741,131
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司258NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注16租赁（续）(a)资产负债表内确认之金额（续）本集团使用权资产的变动如下：16 LEASES(continued)(a) Amounts recognised in the balance sheet(continued)Movements on the Group’s right-of-use assets are as follow:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元At 1 January于1月1日Cost成本1,146,056742,777Accumulated depreciation累计折旧(443,884)(133,260)Impairment减值(545)–Opening net book amount年初账面净值701,627609,517Year ended 31 December截至12月31日止年度Opening net book amount年初账面净值701,627609,517Additions添置407,785431,235Depreciation charge折旧费用(357,043)(335,630)Impairment减值–(545)Lease termination租赁终止(26,316)(2,950)Closing net book amount年末账面净值726,053701,627At 31 December于12月31日Cost成本1,235,8901,146,056Accumulated depreciation累计折旧(509,837)(443,884)Impairment减值–(545)Closing net book amount年末账面净值726,053701,627
二零二三年年报ANNUAL REPORT 2023259NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注16租赁（续）(b)损益及其他全面收益表确认之金额综合财务报表列示以下与租赁有关的金额：本集团已租赁各种办公室、仓库零售店及泡泡玛特城市乐园。租赁合约的固定期限一般为1至5年。租赁条款乃单独磋商达致，当中包含各种不同的条款及条件。租赁协议并不强加任何契诺，惟租赁资产不得用作借款的抵押。就若干零售店的租赁合约而言，其包含基于销售量的可变租赁付款的条款，使本集团须承担可变租赁付款。截至2023年12月31日止年度，本集团附有该等可变租赁合约之所有门店的销售增长10%，将使租赁付款总额增加约人民币10,755,000元（截至2022年12月31日止年度：人民币10,946,000元）。16 LEASES(continued)(b) Amounts recognised in the statement of profit or loss andother comprehensive incomeThe consolidated financial statements show the following amountsrelating to leases:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Depreciation charge of right-of-use assets使用权资产折旧费用Offices and warehouses办公室及仓库72,58166,352Retail stores零售店275,024263,772POP LAND泡泡玛特城市乐园785–348,390330,124Interest expenses利息开支30,75434,057Expense relating to short-term leases (included indistribution and selling expenses andadministrative expenses)短期租赁之有关开支（计入经销及销售开支以及行政开支）72,59038,095Expense relating to variable lease payments notincluded in lease liabilities (included indistribution and selling expenses)未计入租赁负债的可变租赁付款之有关开支（计入经销及销售开支）113,30341,112The cash outflow for leases as operating activities租赁作为经营活动之现金流出175,51672,512The cash outflow for leases as financing activities租赁作为融资活动之现金流出384,999323,041The Group leases various offices, warehouses, retail stores and POPLAND. Rental contracts are typically made for fixed periods of 1 to 5years. Lease terms are negotiated on an individual basis and contain awide range of different terms and conditions. The lease agreements donot impose any covenants, but leased assets may not be used as securityfor borrowing purposes.For certain lease contracts of retail stores, there are terms about variablelease payments that based on the sales volume, which expose the Groupto variable lease payments. A 10% increase in sales across all storesin the Group with such variable lease contracts would increase totallease payments by approximately RMB10,755,000 for the year ended 31December 2023 (for the year ended 31 December 2022: RMB10,946,000).
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司260NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注17于附属公司的投资(a)附属公司17 INVESTMENT IN SUBSIDIARIES(a) SubsidiariesOwnership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Directly held直接持有Pop Mart (BVI) Holding LimitedPop Mart (BVI) Holding LimitedThe British Virgin Islands (“BVI”),10 May 2019英属维京群岛（「英属维京群岛」），2019年5月10日Limited liability company有限责任公司USD50,00050,000美元100%100%––Investment holding/BVI投资控股╱英属维京群岛Indirectly held间接持有Beijing Pop Mart Cultural & Creative Corp.,Ltd. (“Beijing Pop Mart”) (i)北京泡泡玛特文化创意有限公司（「北京泡泡玛特」）(i)The PRC, 20 October 2010中国，2010年10月20日Limited liability company有限责任公司RMB200,000,000人民币200,000,000元100%100%––Design and sales of pop toys/The PRC设计及销售潮流玩具╱中国Beijing Paquhuyu Technology Co., Ltd (ii)北京葩趣互娱科技有限公司(ii)The PRC, 8 March 2016中国，2016年3月8日Limited liability company有限责任公司RMB10,000,000人民币10,000,000元––––Internet technology services/The PRC互联网技术服务╱中国Beijing Paqu Technology Co., Ltd.北京葩趣科技有限公司The PRC, 21 April 2016中国，2016年4月21日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%100%––Technology development/The PRC技术开发╱中国Tianjin Pop Mart Cultural CommunicationCo., Ltd.天津泡泡玛特文化传播有限公司The PRC, 29 November 2016中国，2016年11月29日Limited liability company有限责任公司RMB5,000,000人民币5,000,000元100%100%––Sales of pop toys/The PRC销售潮流玩具╱中国Pop Mart Hong Kong LimitedPop Mart Hong Kong LimitedHong Kong, 27 January 2017香港，2017年1月27日Limited liability company有限责任公司HKD1,000,0001,000,000港元100%100%––Overseas operations andsales of pop toys/Hong Kong海外营运及销售潮流玩具╱香港
二零二三年年报ANNUAL REPORT 2023261NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有Shanghai Paqu Commerce Co., Ltd.The PRC, 21 September 2017Limited liability companyRMB2,000,000100%100%––Sales of pop toys/The PRC上海葩趣贸易有限公司中国，2017年9月21日有限责任公司人民币2,000,000元销售潮流玩具╱中国Beijing Pop Mart Trading Co., Ltd.The PRC, 11 October 2017Limited liability companyRMB5,000,000100%100%––Sales of pop toys/The PRC北京泡泡玛特商贸有限公司中国，2017年10月11日有限责任公司人民币5,000,000元销售潮流玩具╱中国Shenzhen Pop Mart Trading Co., Ltd.The PRC, 31 October 2017Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC深圳泡泡玛特贸易有限公司中国，2017年10月31日有限责任公司人民币1,000,000元销售潮流玩具╱中国Chengdu Pop Mart Trading Co., Ltd.The PRC, 22 November 2017Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC成都泡泡玛特贸易有限公司中国，2017年11月22日有限责任公司人民币1,000,000元销售潮流玩具╱中国Chongqing Paqu Trading Co., Ltd.The PRC, 23 November 2017Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC重庆葩趣贸易有限公司中国，2017年11月23日有限责任公司人民币1,000,000元销售潮流玩具╱中国Beijing Paqu Trading Co., Ltd.The PRC, 29 December 2017Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC北京葩趣贸易有限公司中国，2017年12月29日有限责任公司人民币1,000,000元销售潮流玩具╱中国Shenyang Paqu Trading Co., Ltd.The PRC, 1 March 2018Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC沈阳葩趣商贸有限公司中国，2018年3月1日有限责任公司人民币1,000,000元销售潮流玩具╱中国Zhengzhou Pop Mart Trading Co., Ltd.The PRC, 4 April 2018Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC郑州泡泡玛特贸易有限公司中国，2018年4月4日有限责任公司人民币1,000,000元销售潮流玩具╱中国Qingdao Pop Mart Trading Co., Ltd.The PRC, 17 April 2018Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC青岛泡泡玛特贸易有限公司中国，2018年4月17日有限责任公司人民币1,000,000元销售潮流玩具╱中国17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司262NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有Beijing Silai Art Design Co., Ltd北京偲徕艺术设计有限公司The PRC, 26 April 2019中国，2019年4月26日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%100%––Overseas operations andsales of pop toys/The PRC海外营运及销售潮流玩具╱中国Pop Mart (Hong Kong) Holding LimitedPop Mart (Hong Kong) Holding LimitedHong Kong, 27 May 2019香港，2019年5月27日Limited liability company有限责任公司HKD11港元100%100%––Investment holding/Hong Kong投资控股╱香港Pop Mart Korea Co., Ltd. (Pop Mart Korea)South Korea, 11 July 2019Limited liability companyKRW 1,500,000,000100%80%–20%Sales of pop toys/South KoreaPop Mart Korea Co., Ltd. (Pop Mart Korea)韩国，2019年7月11日有限责任公司1,500,000,000韩圆销售潮流玩具╱韩国Shandong Paqu Trading Co., Ltd.The PRC, 24 October 2019Limited liability companyRMB3,000,000100%100%––Sales of pop toys/The PRC山东葩趣贸易有限公司中国，2019年10月24日有限责任公司人民币3,000,000元销售潮流玩具╱中国Xian Pop Mart Trading Co., Ltd.The PRC, 25 December 2019Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC西安泡泡玛特贸易有限公司中国，2019年12月25日有限责任公司人民币1,000,000元销售潮流玩具╱中国Wuhan Pop Mart Trading Co., Ltd.The PRC, 17 December 2019Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC武汉泡泡玛特贸易有限公司中国，2019年12月17日有限责任公司人民币1,000,000元销售潮流玩具╱中国Guiyang Pop Mart Trading Co., Ltd.The PRC, 10 January 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC贵阳泡泡玛特葩趣贸易有限公司中国，2020年1月10日有限责任公司人民币1,000,000元销售潮流玩具╱中国Changsha Paqu Trading Co., Ltd.The PRC, 02 January 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC长沙葩趣商贸有限公司中国，2020年1月2日有限责任公司人民币1,000,000元销售潮流玩具╱中国17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
二零二三年年报ANNUAL REPORT 2023263NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有Taiyuan Pop Mart Trading Co., Ltd.The PRC, 23 March 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC太原泡泡玛特贸易有限公司中国，2020年3月23日有限责任公司人民币1,000,000元销售潮流玩具╱中国Fuzhou Paqu Trading Co., Ltd.The PRC, 25 March 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC福州葩趣贸易有限公司中国，2020年3月25日有限责任公司人民币1,000,000元销售潮流玩具╱中国Tianjin Paqu Cultural Media Co., Ltd.The PRC, 27 March 2020Limited liability companyRMB5,000,000100%100%––Sales of pop toys/The PRC天津葩趣文化传播有限公司中国，2020年3月27日有限责任公司人民币5,000,000元销售潮流玩具╱中国Haerbin Paqu Trading Co., Ltd.The PRC, 10 April 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC哈尔滨葩趣商贸有限公司中国，2020年4月10日有限责任公司人民币1,000,000元销售潮流玩具╱中国Dalian Pop Mart Trading Co., Ltd.The PRC, 13 April 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC大连泡泡玛特贸易有限公司中国，2020年4月13日有限责任公司人民币1,000,000元销售潮流玩具╱中国Xiamen Paqu Trading Co., Ltd.The PRC, 14 April 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC厦门葩趣贸易有限公司中国，2020年4月14日有限责任公司人民币1,000,000元销售潮流玩具╱中国Changchun Pop Mart Trading Co., Ltd.The PRC, 15 April 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC长春泡泡玛特贸易有限公司中国，2020年4月15日有限责任公司人民币1,000,000元销售潮流玩具╱中国Jiangxi Paqu Trading Co., Ltd.The PRC, 21 May 2020Limited liability companyRMB2,000,000100%100%––Sales of pop toys/The PRC江西葩趣贸易有限公司中国，2020年5月21日有限责任公司人民币2,000,000元销售潮流玩具╱中国Guangzhou Pop Mart Trading Co., Ltd.The PRC, 06 May 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC广州泡泡玛特贸易有限公司中国，2020年5月6日有限责任公司人民币1,000,000元销售潮流玩具╱中国17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司264NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有POP MART UK CORPORATION LTDUK, 23 June 2020Limited liability companyGBP 10100%N/A–N/ASales of pop toys/UKPOP MART UK CORPORATION LTD英国，2020年6月23日有限责任公司10英镑不适用不适用销售潮流玩具╱英国POP MART JAPAN INC.Japan, 1 July 2020Limited liability companyJPY 30,000,00060%60%40%40%Sales of pop toys/JapanPOP MART JAPAN INC.日本，2020年7月1日有限责任公司30,000,000日元销售潮流玩具╱日本Yunnan Paqu Trading Co., Ltd.The PRC, 4 September 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC云南葩趣贸易有限公司.中国，2020年9月4日有限责任公司人民币1,000,000元销售潮流玩具╱中国Foshan Pop Mart Trading Co., Ltd.The PRC, 7 December 2020Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC佛山泡泡玛特贸易有限公司中国，2020年12月7日有限责任公司人民币1,000,000元销售潮流玩具╱中国Pop Mart (Canada) Co., Ltd.Canada, 11 January 2021Limited liability companyCAD 1100%100%––Sales of pop toys/CanadaPop Mart (Canada) Co., Ltd.加拿大，2021年1月11日有限责任公司1加元销售潮流玩具╱加拿大Dongguan Pop Mart Trading Co., Ltd.The PRC,26 January 2021Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC东莞泡泡玛特贸易有限公司中国，2021年1月26日有限责任公司人民币1,000,000元销售潮流玩具╱中国Beijing Pop Mart Technology Co., Ltd.The PRC,12 February 2021Limited liability companyRMB2,000,000100%100%––Sales of pop toys/The PRC北京泡泡玛特科技有限公司中国，2021年2月12日有限责任公司人民币2,000,000元销售潮流玩具╱中国Pop Investment Holding LimitedThe BVI, 9 March 2021Limited liability companyUSD50,000100%100%––Investment/The BVIPop Investment Holding Limited英属维京群岛，2021年3月9日有限责任公司50,000美元投资╱英属维京群岛Hangzhou Pop Mart Trading Co., Ltd.The PRC, 29 April 2021Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC杭州泡泡玛特贸易有限公司中国，2021年4月29日有限责任公司人民币1,000,000元销售潮流玩具╱中国17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
二零二三年年报ANNUAL REPORT 2023265NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有Gansu Paqu Trading Co., Ltd.The PRC,17 May 2021Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC甘肃葩趣贸易有限公司中国，2021年5月17日有限责任公司人民币1,000,000元销售潮流玩具╱中国Shanghai Paqu Cultural &Creative Corp., Ltd.上海葩趣文化创意有限公司The PRC,21 May 2021中国，2021年5月21日Limited liability company有限责任公司RMB10,000,000人民币10,000,000元100%100%––Sales of pop toys/The PRC销售潮流玩具╱中国Shijiazhuang Paqu Trading Co., Ltd.The PRC,11 June 2021Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC石家庄葩趣贸易有限公司中国，2021年6月11日有限责任公司人民币1,000,000元销售潮流玩具╱中国Anhui Pop Mart Trading Co., Ltd.The PRC,15 June 2021Limited liability companyRMB5,000,000100%100%––Sales of pop toys/The PRC安徽泡泡玛特贸易有限公司中国，2021年6月15日有限责任公司人民币5,000,000元销售潮流玩具╱中国Qinghai Paqu Trading Co., Ltd.The PRC,23 July 2021Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC青海葩趣贸易有限公司中国，2021年7月23日有限责任公司人民币1,000,000元销售潮流玩具╱中国Guangxi Nanning Paqu Trading Co., Ltd.The PRC, 11 August 2021Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC广西南宁葩趣贸易有限公司中国，2021年8月11日有限责任公司人民币1,000,000元销售潮流玩具╱中国POP MART OCEANIA PTY LIMITEDAustralia,17 August 2021Limited liability companyAUD 1,260,000100%100%––Sales of pop toys/AustraliaPOP MART OCEANIA PTY LIMITED澳大利亚，2021年8月17日有限责任公司1,260,000澳元销售潮流玩具╱澳大利亚Beijing Pop Mart Paradise ManagementCo., Ltd.北京泡泡玛特乐园管理有限公司The PRC,18 August 2021中国，2021年8月18日Limited liability company有限责任公司RMB10,000,000人民币10,000,000元100%100%––Playground/The PRC游乐场╱中国Pop Mart USA Inc.The USA,27 August 2021Limited liability companyUSD20100%100%––Sales of pop toys/USAPop Mart USA Inc.美国，2021年8月27日有限责任公司20美元销售潮流玩具╱美国17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司266NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有POP MART UK LIMITEDUK,31 August 2021Limited liability companyGBP 10100%100%––Sales of pop toys/UKPOP MART UK LIMITED英国，2021年8月31日有限责任公司10英镑销售潮流玩具╱英国Ningbo Wanxinhuigui Investment Co., Ltd.The PRC, 13 September 2021Limited liability companyRMB100,000,000100%100%––Investment/The PRC宁波玩心回归投资有限公司中国，2021年9月13日有限责任公司人民币100,000,000元投资╱中国Wulumuqi Pop Mart Trading Co., Ltd.The PRC,14 October 2021Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC乌鲁木齐泡泡玛特贸易有限公司中国，2021年10月14日有限责任公司人民币1,000,000元销售潮流玩具╱中国POP MART NEW ZEALAND LIMITEDPOP MART NEW ZEALAND LIMITEDNew Zealand, 3 November 2021新西兰，2021年11月3日Limited liability company有限责任公司NZD 11新西兰元100%100%––Sales of pop toys/NEW ZEALAND销售潮流玩具╱新西兰Shanghai Paqu Technology Co., Ltd.The PRC,4 November 2021Limited liability companyRMB1,000,000100%100%––Exhibition Business/The PRC上海葩趣科技有限公司中国，2021年11月4日有限责任公司人民币1,000,000元展览业务╱中国POP MART MACAU LIMITEDMACAU, 22 November 2021Limited liability companyMOP25,000100%100%––Sales of pop toys/MACAUPOP MART MACAU LIMITED澳门，2021年11月22日有限责任公司25,000澳门元销售潮流玩具╱澳门Pop Mart (Singapore) Holding PTE. LtdSingapore, 14 December 2021Limited liability companySGD1,000,001100%100%––Sales of pop toys/SingaporePop Mart (Singapore) Holding PTE. Ltd新加坡，2021年12月14日有限责任公司1,000,001新元销售潮流玩具╱新加坡Nanjing Paqu Cultural &Creative Corp., Ltd.The PRC,4 January 2022中国，2022年1月4日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%100%––Customer service/The PRC客户服务╱中国南京葩趣文化创意有限公司POP MART SINGAPORE PTE.LTD.Singapore, 6 January 2022Limited liability companySGD2,050,000100%100%––Sales of pop toys/SingaporePOP MART SINGAPORE PTE.LTD.新加坡，2022年1月6日有限责任公司2,050,000新元销售潮流玩具╱新加坡17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
二零二三年年报ANNUAL REPORT 2023267NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有Beijing Yifu Trading Co., LtdThe PRC,19 January 2022Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC北京一幅商贸有限公司中国，2022年1月19日有限责任公司人民币1,000,000元销售潮流玩具╱中国POP MART Americas Inc.USA, 27 January 2022Limited liability company–100%100%––Sales of pop toys/USAPOP MART Americas Inc.美国，2022年1月27日有限责任公司–销售潮流玩具╱美国POP MART KOREA Holdings CO., LTD.South Korea,24 February 2022Limited liability companyKRW3,100,000,000100%100%––Sales of pop toys/South KoreaPOP MART KOREA Holdings CO., LTD.韩国，2022年2月24日有限责任公司3,100,000,000韩圆销售潮流玩具╱韩国Shanghai Lingzuo Cultural & Creative Corp.,Ltd.上海零作文化创意有限公司The PRC,18 April 2022中国，2022年4月18日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%100%––Sales of pop toys/The PRC销售潮流玩具╱中国Hainan Pop Mart Trading Co., LTDThe PRC,21 April 2022Limited liability companyRMB1,000,000100%100%––Sales of pop toys/The PRC海南泡泡玛特商贸有限公司中国，2022年4月21日有限责任公司人民币1,000,000元销售潮流玩具╱中国POP MART TAIWAN Co., LTDTAIWAN,6 May 2022Limited liability companyTWD6,000,00060%60%40%40%Sales of pop toys/TAIWANPOP MART TAIWAN Co., LTD台湾，2022年5月6日有限责任公司6,000,000新台币销售潮流玩具╱台湾Hangzhou Resonance Magic TechnologyCo., Ltd.杭州共鸣魔法科技有限公司The PRC,17 August 2022中国，2022年8月17日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%100%––Sales of pop toys/The PRC销售潮流玩具╱中国POP MART FRANCE SASUFRANCE,6 September 2022Limited liability companyEUR 50,000100%100%––Sales of pop toys/FRANCEPOP MART FRANCE SASU法国，2022年9月6日有限责任公司50,000欧元销售潮流玩具╱法国17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司268NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有POP MART MALAYSIA SDN BHD (iii)MALAYSIA, 18 January 2023Limited liability companyMYR 2,000,000100%N/A–N/ASales of pop toys/MALAYSIAPOP MART MALAYSIA SDN BHD (iii)马来西亚，2023年1月18日有限责任公司2,000,000马来西亚令吉不适用不适用销售潮流玩具╱马来西亚Neimenggu Paqu Trading Co., Ltd (iii)The PRC, 7 April 2023Limited liability companyRMB1,000,000100%N/A–N/ASales of pop toys/The PRC内蒙古葩趣贸易有限公司(iii)中国，2023年4月7日有限责任公司人民币1,000,000元不适用不适用销售潮流玩具╱中国POP MART VIETNAM CO., LTD (iii)VIETNAM, 19 May 2023Limited liability companyUSD100,000100%N/A–N/ASales of pop toys/VIETNAMPOP MART VIETNAM CO., LTD (iii)越南，2023年5月19日有限责任公司100,000美元不适用不适用销售潮流玩具╱越南POP MART (THAILAND) COMPANY LIMITED (iii)THAILAND, 29 June 2023Limited liability companyTHB 42,000,00053%N/A47%N/ASales of pop toys/THAILANDPOP MART (THAILAND) COMPANY LIMITED (iii)泰国，2023年6月29日有限责任公司42,000,000泰铢不适用不适用销售潮流玩具╱泰国Beijing Fushangfushang Technology Co., Ltd(iii)北京福赏福赏科技有限公司(iii)The PRC, 10 July 2023中国，2023年7月10日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%N/A–N/ASales of pop toys/The PRC销售潮流玩具╱中国不适用不适用Beijing Limian Space Art and Culture Co., Ltd.(iii)北京里面空间艺术文化有限公司(iii)The PRC, 24 July 2023中国，2023年7月24日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%N/A–N/AExhibition Business/The PRC展览业务╱中国不适用不适用POP MART ITALY S.R.L. (iii)ITALY, 9 August 2023Limited liability companyEUR 10,000100%N/A–N/ASales of pop toys/ITALYPOP MART ITALY S.R.L. (iii)意大利，2023年8月9日有限责任公司10,000欧元不适用不适用销售潮流玩具╱意大利Xinxiang Pop Mart Cultural & Creative Corp.,Ltd. (iii)新乡泡泡玛特文化创意有限公司(iii)The PRC, 28 August 2023中国，2023年8月28日Limited liability company有限责任公司RMB1,000,000人民币1,000,000元100%N/A–N/ACustomer service/The PRC客户服务╱中国不适用不适用17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）
二零二三年年报ANNUAL REPORT 2023269NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注Ownership interest heldby the Group本集团持有的拥有权权益Ownership interestheld by non controllinginterests非控股权益持有之拥有权权益Company name公司名称Country/place and date ofestablishment/incorporation成立╱注册成立国家╱地点及日期Kind of legal entity法定实体类型Issued andfully paid ordinaryshare capital/registered capital已发行及缴足普通股股本╱注册资本At 31 December于12月31日At 31 December于12月31日Principal activities/place of operation主要业务╱经营地点20232022202320222023年2022年2023年2022年Indirectly held间接持有Pop Mart Netherlands B.V. (iii)Netherlands, 29 September 2023Limited liability companyEUR100,000100%N/A–N/ASales of pop toys/NetherlandsPop Mart Netherlands B.V. (iii)荷兰，2023年9月29日有限责任公司100,000欧元不适用不适用销售潮流玩具╱荷兰Shanghai Paquhuyu Technology Co., Ltd上海葩趣互娱科技有限公司The PRC, 25 October 2023中国，2023年10月25日Limited liability company有限责任公司RMB10,000,000人民币10,000,000元100%N/A–N/AInternet technology services/The PRC互联网技术服务╱中国不适用不适用(i) This subsidiary is a wholly foreign owned enterprises with limitedliability established in Mainland China.(ii) The Company does not have directly or indirectly legal ownershipin equity of the structured entity. Nevertheless, under certaincontractual arrangements entered into with the registered ownersof the structured entity, the Company and its legally ownedsubsidiary control the company by way of controlling the votingrights, governing its financial and operating policies, appointingor removing the majority of the management of their controllingauthorities, and casting the majority of votes at meetings of suchauthorities. Accordingly, the Group has rights to exercise powerover these structured entities, receives variable returns from itsinvolvement in the structured entity, and has the ability to affectthose returns through its power over the structured entity. Asa result, the company is presented as structured entity of theCompany.(iii) Registered during the year ended 31 December 2023.(iv) None of the subsidiaries had issued any debt securities at the endof the year.17 INVESTMENT IN SUBSIDIARIES(continued)(a) Subsidiaries(continued)17于附属公司的投资（续）(a)附属公司（续）(i)该附属公司为在中国内地成立的外商独资有限责任企业。(ii)本公司并无直接或间接于结构实体权益中拥有合法拥有权。尽管如此，根据与结构实体登记拥有人订立的若干合约安排，本公司及其合法拥有的附属公司透过控制投票权、规管其财务及经营政策、委任或罢免其控制权力部门的大部分管理层成员，以及于有关部门的会议上行使过半数投票权，从而控制结构实体。因此，本集团有权对结构实体行使权力、参与结构实体获得可变回报、且有能力透过其对结构实体之权力影响该等回报。因此，该公司作为本公司的结构实体呈列。(iii)截至2023年12月31日止年度登记。(iv)概无任何附属公司于年末发行任何债务证券。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司270NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注17于附属公司的投资（续）(b)非控股权益于2023年12月31日，非控股权益总额为人民币10,455,000元（于2022年12月31日：人民币2,037,000元）。概无附属公司拥有对本集团属重大的非控股权益。(c)附属公司英文名为直接翻译。18使用权益法入账的投资于2023年12月31日，管理层认为本集团合营企业及联营公司个别而言对本集团不属重大。于合营企业及联营公司投资的账面值变动（包括本集团个别不重要合营企业及联营公司的合计资料）如下：17 INVESTMENT IN SUBSIDIARIES(continued)(b) Non-controlling interestsThe total non-controlling interests as at 31 December 2023 amounted toRMB10,455,000 (As at 31 December 2022: RMB2,037,000). No subsidiaryhas non-controlling interests that are material to the Group.(c)The English name of the subsidiaries are direct translation.18 INVESTMENTS ACCOUNTED FOR USING THEEQUITY METHODManagement is of the view that none of the Group’s joint ventures andassociates is individually material to the Group as at 31 December 2023.The movements of the carrying amount of investments in joint venturesand associates (which also includes the aggregate information of theGroup’s individually immaterial joint ventures and associates) are asfollows:202320222023年2022年RMB’000RMB’000人民币千元人民币千元Opening balance as at 1 January于1月1日的年初结余83,33361,539Elimination of downstream profit下游溢利对销(1,361)–Share of profit for the year分占年内溢利33,22927,046Dividends from an associate来自一间联营公司的股息(8,860)(8,538)Currency translation difference货币换算差额6603,286Ending balance as at 31 December于12月31日的年末余额107,00183,333
二零二三年年报ANNUAL REPORT 2023271NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注18使用权益法入账的投资（续）于2023年及2022年12月31日，本集团的合营企业及联营公司详情如下所示：18 INVESTMENTS ACCOUNTED FOR USING THEEQUITY METHOD(continued)Details of the Group’s joint ventures and associate as at 31 December2023 and 2022 are as follows:Company name公司名称Place of business/country ofincorporation营业地点╱注册成立国家% of ownership interest占所有权权益的百分比Principal activities主营业务Nature of therelationship关系性质Measurementmethod计量方法Carrying amounts of theinvestment投资账面值As at 31 December于12月31日As at 31 December于12月31日20232022202320222023年2022年2023年2022年RMB’000RMB’000人民币千元人民币千元Nanjing Golden Eagle Pop Mart Co.,Ltd. (“Nanjing Pop Mart”)南京金鹰泡泡玛特商贸有限公司（「南京泡泡玛特」）The PRC中国52%52%Sales of pop toys销售潮流玩具Joint Venture合营企业Equity method权益法47,90932,571POP MART SOUTH ASIA PTE. LTD.(“Singapore Pop”)Singapore50%50%Sales of pop toysJoint VentureEquity method21,47112,832POP MART SOUTH ASIA PTE. LTD.（「Singapore Pop」）新加坡销售潮流玩具合营企业权益法How2work LimitedHong Kong25%25%Design and sales of pop toysAssociateEquity method22,43427,363How2work Limited香港设计及销售潮流玩具联营公司权益法DANNI TOYS(LONGCHUAN) CO., LTD.(“Danni”)丹尼玩具（龙川）有限公司（「丹尼」）The PRC中国10%10%Manufacture of toys制造玩具Associate联营公司Equity method权益法15,18710,567(i) Although the Group’s shareholding in Danni is less than 20%, theGroup is able to exercise significant influence over Danni by virtueof its contractual right to appoint director to the board of directorsof Danni under its Articles of Association.(i)尽管本集团于丹尼的股权少于20%，但根据其组织章程细则，本集团可透过其合约权利于丹尼董事会委派董事，能够对丹尼施加重大影响。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司272NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注19递延所得税(a)递延税项资产递延税项资产结余包括暂时性差额，其归因于：19 DEFERRED INCOME TAX(a) Deferred tax assetsThe balance of deferred tax assets comprises temporary differencesattributable to:As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Lease liabilities租赁负债194,438185,283Tax losses税项亏损56,72563,066Accrued expenses应计开支8,2604,275Impairment loss减值亏损6,7624,617Total deferred tax assets递延税项资产总值266,185257,241Set-off of deferred tax liabilities in relation toright-of-use assets (b)就使用权资产抵销递延税项负债(b)(182,769)(176,264)Net deferred tax assets递延税项资产净值83,41680,977As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Deferred income tax assets:递延所得税资产：– to be recovered within 12 months－将于12个月内收回59,43236,422– to be recovered after more than 12 months－将于超过12个月后收回23,98444,55583,41680,977
二零二三年年报ANNUAL REPORT 2023273NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注19递延所得税（续）(a)递延税项资产（续）未计入同一税务司法权区内的结余冲销后期内递延所得税资产的变动如下：19 DEFERRED INCOME TAX(continued)(a) Deferred tax assets(continued)The movement is deferred income tax assets during the period, withouttaking into consideration the offsetting of the balances within the sametax jurisdiction, is as follow:ImpairmentlossTax lossesLeaseliabilitiesAccruedexpensesTotal减值亏损税项亏损租赁负债应计开支总计RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元As at 1 January 2023于2023年1月1日4,61763,066185,2834,275257,241Credited to the consolidatedstatement of profit or loss andother comprehensive income于综合损益及其他全面收益表计入2,145(6,341)9,1553,9858,944As at 31 December 2023于2023年12月31日6,76256,725194,4388,260266,185As at 1 January 2022于2022年1月1日2,57323,942155,3636,328188,206Credited/(debited) to the consolidatedstatement of profit or loss and othercomprehensive income于综合损益及其他全面收益表计入╱（扣除）2,04439,12429,920(2,053)69,035As at 31 December 2022于2022年12月31日4,61763,066185,2834,275257,241The Group only recognises deferred income tax assets for cumulativetax losses if it is probable that future taxable amounts will be availableto utilize those tax losses. Management will continue to assess therecognition of deferred income tax assets in future reporting periods.As of 31 December 2023, the Group did not recognise deferred incometax assets of RMB1,090,000 (2022: RMB774,000) in respect of cumulativetax losses amounting to RMB4,360,000 (2022: RMB3,096,000). These taxlosses will expire from 2024 to 2028.本集团仅于很可能有未来应课税金额可动用税项亏损时就累计税项亏损确认递延所得税资产。管理层将继续评估未来报告期间的递延所得税资产确认情况。截至2023年12月31日，本集团并无就累计税项亏损人民币4,360,000元（2022年：人民币3,096,000元）确认递延所得税资产人民币1,090,000元（2022年：人民币774,000元）。该等税项亏损将于2024年至2028年到期。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司274NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注19递延所得税（续）(b)递延税项负债递延税项负债结余包括暂时性差额，其归因于：19 DEFERRED INCOME TAX(continued)(b) Deferred tax liabilitiesThe balance of deferred tax liabilities comprises temporary differencesattributable to:As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Right-of-use assets使用权资产182,769176,264Fair value changes of investments infinancial assets金融资产投资公平值变动14,41915,120Total deferred tax liabilities递延税项负债总额197,188191,384Set off of deferred tax liabilities in relationto right of use assets就使用权资产抵销递延税项负债(182,769)(176,264)Net deferred tax liabilities递延税项负债净额14,41915,120As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Deferred income tax liabilities:递延所得税负债：– to be settled within 12 months－将于12个月内结算2,104804– to be settled after more than 12 months－将于12个月后结算12,31514,31614,41915,120
二零二三年年报ANNUAL REPORT 2023275NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注19递延所得税（续）(b)递延税项负债（续）截至2023年及2022年12月31日止年度期间，递延所得税负债的变动如下：19 DEFERRED INCOME TAX(continued)(b) Deferred tax liabilities(continued)The movement in deferred income tax liabilities during the year ended31 December 2023 and 2022 is as follows:Right-of-use assetsFair valuechanges ofinvestments infinancial assetsTotal使用权资产金融资产投资公平值变动总计RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元As at 1 January 2023于2023年1月1日176,26415,120191,384Debited/(credited) to the consolidated statement ofprofit or loss and other comprehensive income于综合损益及其他全面收益表扣除╱（计入）6,505(701)5,804As at 31 December 2023于2023年12月31日182,76914,419197,188As at 1 January 2022于2022年1月1日152,653–152,653Debited to the consolidated statement of profit orloss and other comprehensive income于综合损益及其他全面收益表扣除23,61115,12038,731As at 31 December 2022于2022年12月31日176,26415,120191,384
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司276NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注20贸易应收款项20 TRADE RECEIVABLESAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Trade receivables (a)贸易应收款项(a)–Third parties－第三方237,437110,310–Related parties (Note 36(e))－关联方（附注36(e)）91,21991,350Subtotal小计328,656201,660Less: provision for impairment allowance (b)减：减值拨备(b)(7,319)(7,291)Total trade receivables贸易应收款项总额321,337194,369(a) For trade receivables from retail store sales, roboshop sales andonline sales, the amounts are usually settled in cash, by credit/debit cards or through online payment platforms. For wholesaletransactions, trade receivables are settled within the credit terms asagreed in sales contracts. The majority of these wholesalers are withcredit terms of 30 to 90 days. Certain customers with good historyand long-term relationship are extended preferential credit terms ofup to 180 days.(a)就来自零售店销售、机器人商店销售及线上销售的贸易应收款项而言，该等款项通常以现金、信用卡╱借记卡或通过线上支付平台结算。就批发交易而言，贸易应收款项于销售合约协定的信贷期内结算。大部分该等批发商的信贷期为30至90天。拥有良好历史及长期关系的若干客户获授最多180天的延长优惠信贷期。
二零二三年年报ANNUAL REPORT 2023277NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注20贸易应收款项（续）(a)（续）按发票日期的贸易应收款项的账龄分析如下：20 TRADE RECEIVABLES(continued)(a)(continued)An aging analysis of the trade receivables based on invoice date isas follows:As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Within 3 months3个月以内311,485181,3393 months to 6 months3个月至6个月12,52315,809Over 6 months6个月以上4,6484,512Total总计328,656201,660(b) The Group applies the IFRS 9 simplified approach to measureexpected credit losses which use a lifetime expected loss allowancefor all trade receivables. Note 3.1 provides for details about thecalculation of the allowance.Information about the impairment of trade receivables and theGroup exposure to credit risk, foreign currency risk and interest raterisk can be found in Note 3.1.Movements in allowance for impairment of trade receivables is asfollows:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元As at 1 January于1月1日7,2913,194Provision for impairment allowance减值拨备284,097As at 31 December于12月31日7,3197,291(b)本集团采用国际财务报告准则第9号简化方法计量预期信贷亏损，该方法对所有贸易应收款项使用全期预期亏损拨备。附注3.1提供有关拨备计算的详情。有关贸易应收款项减值以及本集团面临的信贷风险、外汇风险及利率风险的资料，请参见附注3.1。贸易应收款项的减值拨备变动如下：
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司278NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注20贸易应收款项（续）(c)贸易应收款项以下列货币计值：20 TRADE RECEIVABLES(continued)(c) Trade receivables are denominated in the following currencies:As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元RMB人民币173,058116,558HKD港元44,12459,727TWD新台币30,43613,202JPY日元23,060–SGD新元21,8111,094Others其他28,8483,788321,337194,369(d) All trade receivables’carrying amounts approximate fair values.(d)所有贸易应收款项的账面值均与公平值相若。
二零二三年年报ANNUAL REPORT 2023279NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注21预付款项及其他应收款项21 PREPAYMENTS AND OTHER RECEIVABLESAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Deposits for lease (i)租赁按金(i)248,841163,174Prepayments for design fees预付设计费款项118,394101,266Prepayments for inventories预付存货款项79,342142,125Prepayments for advertising and marketing expense预付广告及市场费15,63215,066Recoverable value-added tax and other taxes可收回增值税及其他税项33,36414,527Staff advances and other payments for employees雇员预付款及其他雇员付款14,10810,323Prepayment for property, plant and equipment预付物业、厂房及设备款项8,46524,556Prepayments for short-term leases and propertymanagement fees预付短期租赁及物业管理费款项25,62515,643Others其他51,77944,038595,550530,718Less: prepayments and other receivables-non-current portion减：预付款项及其他应收款项－非流动部分Deposits for lease (i)租赁按金(i)(119,524)(19,609)Prepayment for property, plant and equipment预付物业、厂房及设备款项(8,465)(24,556)(127,989)(44,165)Prepayments and other receivables-current portion预付款项及其他应收款项－流动部分467,561486,553(i) The deposits for leases are mainly denominated in RMB, HKD and MOP.(i)租赁按金主要以人民币、港元及澳门元计值。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司280NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注21预付款项及其他应收款项（续）其他应收款项减值拨备的变动如下：21 PREPAYMENTS AND OTHER RECEIVABLES(continued)Movements in allowance for impairment of other receivables is asfollows:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元As at 1 January于1月1日2,1681,765Provision for impairment allowance减值拨备717403As at 31 December于12月31日2,8852,168As at 31 December 2023 and 2022, the fair values of other receivablesapproximated their carrying amounts.于2023年及2022年12月31日，其他应收款项的公平值与其账面值相若。
二零二三年年报ANNUAL REPORT 2023281NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注22存货22 INVENTORIESAs at 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Merchandise (a)商品(a)921,796876,057Less: provision for impairment (b)减：减值拨备(b)(17,088)(9,072)Total总计904,708866,985(a) The cost of goods recognised as cost of sales amounted toapproximately RMB2,042,672,000 and RMB1,693,530,000, for theyears ended 31 December 2023 and 2022, respectively.(b) Provision for impairment was recognised for the amount by whichthe carrying amount of inventories exceeds its net realisablevalue and was recorded in“cost of sales”in the consolidatedstatement of profit or loss and other comprehensive income. Theprovision for impairment of inventory amount to RMB8,016,000 andRMB3,692,000, for the years ended 31 December 2023 and 2022,respectively.(a)截至2023年及2022年12月31日止年度，确认为销售成本的商品成本分别约为人民币2,042,672,000元及人民币1,693,530,000元。(b)就存货之账面值超出其可变现净值的金额确认减值拨备，并计入综合损益及其他全面收益表的「销售成本」。截至2023年及2022年12月31日止年度，存货减值拨备分别为人民币8,016,000元及人民币3,692,000元。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司282NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注23按公平值计入损益的金融资产23 FINANCIAL ASSETS AT FAIR VALUE THROUGHPROFIT OR LOSSAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Current assets流动资产– Listed equity securities-stock (a)－上市股本证券－股票(a)8,41512,829Non-current assets非流动资产– Investment in associates measured at FVPL (b)－按公平值计入损益的于联营公司的投资(b)227,477231,808– Private equity fund investments－私募股权基金投资196,159181,871– Other unlisted investments (c)－其他非上市投资(c)48,13345,355Subtotal小计471,769459,034Total总计480,184471,863
二零二三年年报ANNUAL REPORT 2023283NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注23按公平值计入损益的金融资产（续）(a)上市证券公平值乃根据活跃市场所报收市价厘定。上市证券按基于市场报价（层级1：活跃市场报价（未经调整））的公平值入账，未扣除任何交易成本。.(b)于2023年12月31日，本集团投资于若干非上市公司。本集团因其有权委任该等被投资方董事会的董事，对该等联营公司拥有重大影响力。此外，本集团有权在发生被投资方无法控制的赎回事件时，要求被投资方以预先厘定的保证金额赎回本集团持有的全部股份。因此，该等投资入账作债务工具及确认为按公平值计入损益的金融资产。(c)本集团对该等被投资方并无重大影响力，该等投资确认为按公平值计入损益的金融资产。(d)于损益确认的金额23 FINANCIAL ASSETS AT FAIR VALUE THROUGHPROFIT OR LOSS(continued)(a) The fair values of the listed securities are determined based on the closingprices quoted in active markets. They are accounted for using their fair valuesbased on quoted market prices (level 1: quoted price (unadjusted) in activemarkets) without any deduction for transaction costs.(b) As at 31 December 2023, the Group has invested in certain unlistedcompanies. The Group exercises significant influence over these associatedcompanies by virtue of its contractual right to appoint director to the boardof directors of these investees. In addition, the Group has the right to requireand demand investees to redeem all of the shares held by the Group atguaranteed predetermined amount upon redemption events which are outof control of the investees. Hence these investments are accounted for asdebt instruments and are recognised as financial assets measured at FVPL.(c) The Group does not have significant influence over these investees andthese investments are recognised as financial assets measured at FVPL.(d) Amounts recognised in profit or lossYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Fair value change on listed equity securities-stock上市股本证券－股票的公平值变动(4,259)(9,375)Fair value change investment in associatesmeasured at FVPL按公平值计入损益的于联营公司的投资公平值变动(4,331)(2,205)Fair value change on other unlisted investments其他非上市投资的公平值变动2,778536Fair value change on private equity fund investments私募股权基金投资的公平值变动(4,993)55,901Fair value change on WMPs理财产品的公平值变动16,9164,622Total总计6,11149,479
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司284NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注24现金及现金等价物24 CASH AND CASH EQUIVALENTSAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Cash at banks and cash in hand银行现金及手头现金Denominated in计值货币– USD－美元4,199,1044,425,505– RMB－人民币1,345,767506,479– HKD－港元101,44352,062– AUD－澳元74,10623,651– SGD－新元54,7535,824– KRW－韩元44,43210,854– THB－泰铢43,546–– MOP－澳门币38,6721,404– TWD－台币24,8849,212– Others－其他54,74119,808Less:减：Restricted cash受限制现金– pledged for letter of credits－就信用证作抵押(18,159)(13,265)Term deposits with initial terms overthree months and within one year(i)初始期限超过三个月但于一年内的定期存款(i)(3,885,362)(4,356,220)Cash and cash equivalents现金及现金等价物2,077,927685,314(i) As at 31 December 2023, the balance includes the accrued interests forterm deposits with initial terms over three months and within one yearsamounting to RMB140,786,000 (as at 31 December 2022: RMB66,026,000).The effective interest rate of these term deposits ranges from 2.03%-5.52%per annum for the year ended 31 December 2023 (2022: 2.03%-3.43%).The conversion of RMB denominated balances into foreign currenciesand the remittance of such foreign currencies denominated bankbalances and cash out of the PRC are subject to relevant rules andregulations of foreign exchange control promulgated by the PRCgovernment.(i)于2023年12月31日，结余包括初始期限超过三个月但于一年内的定期存款的应计利息人民币140,786,000元（2022年12月31日：人民币66,026,000元）。截至2023年12月31日止年度，该等定期存款的实际年利率为2.03%至5.52%（2022年：2.03%至3.43%）。将人民币计值的结余兑换成外币，以及将该等外币计价的银行结余及现金汇出中国，必须遵守中国政府颁布的外汇管制的有关规则及规例。
二零二三年年报ANNUAL REPORT 2023285NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注25股本及库存股法定：25 SHARE CAPITAL AND TREASURY SHARESAuthorised:Number ofordinary sharesNominal valueof ordinaryshares普通股数目普通股面值USD’000千美元Ordinary shares of US$0.0001 each每股普通股0.0001美元On 1 January 2022, 31 December 2022 and 31December 2023于2022年1月1日、2022年12月31日及2023年12月31日5,000,000,000500Movements in issued and fully paid ordinary shares are as follows:Number ofordinarysharesNominal valueof ordinarysharesNominal valueof ordinarysharesNumber oftreasurysharesCarrying value oftreasury shares(Note 27)普通股数目普通股面值普通股面值库存股数目库存股账面值（附注27）USD’000RMB’000RMB’000千美元人民币千元人民币千元At 1 January 2022于2022年1月1日1,401,937,550141923––Purchase of own shares (i)购买自身股份(i)–––(34,347,400)(634,310)Cancellation of repurchased shares (ii)注销购回之股份(ii)(21,397,000)(2)(15)21,397,000447,915At 31 December 2022于2022年12月31日1,380,540,550139908(12,950,400)(186,395)Purchase of own shares (i)购买自身股份(i)–––(19,947,000)(333,709)Cancellation of repurchased shares (ii)注销购回之股份(ii)(32,297,400)(3)(23)32,297,400509,636At 31 December 2023于2023年12月31日1,348,243,150136885(600,000)(10,468)(i) During the year ended 31 December 2023, the Company acquired 19,947,000ordinary shares of the Company (2022: 34,347,000 ordinary shares) throughpurchases on the open market. The total amount paid to acquire theshares during the year was HKD370,688,000 (equivalent to approximatelyRMB333,709,000) (2022: HKD735,364,000 (equivalent to approximatelyRMB634,310,000)).已发行及缴足普通股变动如下：(i)于截至2023年12月31止年度，本公司透过公开市场购买购入19,947,000股本公司普通股（2022年：34,347,000股普通股）。年内为购入股份而支付的总金额为370,688,000港元（相当于约人民币333,709,000元）（2022年：735,364,000港元（相当于约人民币634,310,000元））。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司286NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注25股本及库存股（续）(ii)于截至2023年12月31止年度，本公司注销32,297,000股购回之股份。因此，本公司确认股本支销3,000美元（相当于约人民币23,000元）、股份溢价支销人民币509,613,000元及库存股入账人民币509,636,000元（附注27）。于截至2022年12月31止年度，本公司注销21,397,000股购回之股份。因此，本公司确认股本支销2,000美元（相当于约人民币15,000元）、股份溢价支销人民币447,900,000元及库存股入账人民币447,915,000元（附注27）。26就股份奖励计划持有的股份25 SHARE CAPITAL AND TREASURY SHARES(continued)(ii) During the year ended 31 December 2023, the Company cancelled32,297,000 repurchased shares. As a result, the Company recognised a debitto share capital of USD3,000 (equivalent to approximately RMB23,000), adebit to share premium of RMB509,613,000 and a credit to treasury shares ofRMB509,636,000 (Note 27).During the year ended 31 December 2022, the Company cancelled21,397,000 repurchased shares. As a result, the Company recognised a debitto share capital of USD2,000 (equivalent to approximately RMB15,000), adebit to share premium of RMB447,900,000 and a credit to treasury shares ofRMB447,915,000 (Note 27).26 SHARES HELD FOR SHARE AWARD SCHEMEAs atDecember2023As atDecember2022As atDecember2023As atDecember2022于2023年12月于2022年12月于2023年12月于2022年12月SharesSharesRMBRMB股份股份人民币人民币Shares held for Share Award Scheme ofUS$0.0001 each就股份奖励计划所持每股0.0001美元的股份18,384,57620,663,76211,93613,524These shares are held by the Group’s Share Award Trust for the purposeof issuing shares under the Group’s Share Award Scheme (see Note 28for further information).Number ofsharesRMBDetails详情股份数量人民币Balance at 1 January 2022于2022年1月1日的结余23,265,95915,334Shares vested under the share award scheme(Note 28)根据股份奖励计划归属的股份（附注28）(2,602,197)(1,810)Balance at 31 December 2022于2022年12月31日的结余20,663,76213,524Shares vested under the share award scheme(Note 28)根据股份奖励计划归属的股份（附注28）(2,279,186)(1,588)Balance at 31 December 2023于2023年12月31日的结余18,384,57611,936本集团的股份奖励信托持有的该等股份目的为根据本集团的股份奖励计划发行股份（进一步详情见附注28）。
二零二三年年报ANNUAL REPORT 2023287NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注27其他储备(a)本集团的其他储备变动27 OTHER RESERVES(a) Other reserves movement of the GroupSharepremiumCapitalreservesStatutoryreservesTranslationreservesShare-basedcompensationreservesTreasurysharesTotal股份溢价资本储备法定储备汇兑储备以股份为基础的付款储备库存股总计RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元As at 1 January 2023于2023年1月1日11,844,909(7,382,159)57,727257,452101,509(186,395)4,693,043Currency translation difference货币换算差额–––75,124––75,124Dividends declared宣派股息(117,317)–––––(117,317)Acquisition of non-controllinginterests on a subsidiary收购附属公司非控股权益–(1,551)––––(1,551)Appropriation to statutory reserves拨入法定储备––21,089–––21,089Purchase of own shares (Note 25)回购自身股份（附注25）–––––(333,709)(333,709)Cancellation of repurchasedshares (Note 25)注销回购股份（附注25）(509,613)––––509,63623Share vested under the Share AwardScheme根据股份奖励计划归属的股份86,863–––(86,865)–(2)Share-based compensation expenses以股份为基础的报酬开支––––101,748–101,748Balance at 31 December 2023于2023年12月31日的结余11,304,842(7,383,710)78,816332,576116,392(10,468)4,438,448As at 1 January 2022于2022年1月1日12,417,263(7,382,159)57,727(153,521)84,273–5,023,583Currency translation difference货币换算差额–––410,973––410,973Dividends declared宣派股息(209,490)–––––(209,490)Purchase of own shares (Note 25)回购自身股份（附注25）–––––(634,310)(634,310)Cancellation of repurchased shares(Note 25)注销回购股份（附注25）(447,900)––––447,91515Share vested under the Share AwardScheme根据股份奖励计划归属的股份85,036–––(85,037)–(1)Share-based compensation expenses以股份为基础的报酬开支––––102,273–102,273Balance at 31 December 2022于2022年12月31日的结余11,844,909(7,382,159)57,727257,452101,509(186,395)4,693,043
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司288NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注27其他储备（续）(a)本集团的其他储备变动（续）(i)法定储备根据中国相关法律及法规的规定，分配各年度纯利时，根据中国法定财务报表并冲减往年的累计亏损后，本集团应提取其除所得税后溢利的10%作为法定盈余储备金（惟储备结余已达到实缴资本的50%则除外）。获得主管当局审批后，法定储备可用于弥补亏损或增加实缴资本。28以股份为基础的报酬本公司于2020年7月24日采纳受限制股份单位（「受限制股份单位」）长期激励计划（「首次公开发售后股份奖励计划」），自采纳日期起为期10年。首次公开发售后股份奖励计划之目的乃使选定参与者的利益与本集团利益保持一致，鼓励及挽留选定参与者为本集团长远增长及溢利作出贡献。根据首次公开发售后股份奖励计划，PopMart Partner Limited（「股份奖励信托」）于2020年5月7日在英属维京群岛成立。由于股份奖励信托的财务及运营政策受本集团管理，且本集团从股份奖励信托的活动中受益，故股份奖励信托于本集团财务报表综合入账为特殊目的实体。27 OTHER RESERVES(continued)(a) Other reserves movement of the Group(continued)(i) Statutory reservesIn accordance with the relevant laws and regulations of the PRC,when distributing the net profit of each year, the Group shall setaside 10% of its profit after income tax (based on the PRC statutoryfinancial statements and after offsetting accumulated losses fromprior years) for the statutory surplus reserve fund (except where thereserve balance has reached 50% of the paid-in capital).Statutory reserve can be used to make up for the loss or increasethe paid-in capital after approval from the appropriate authorities.28 SHARE-BASED COMPENSATIONThe Company adopted the restricted share unit (the“RSU”) long termincentive plan (the“Post-IPO Share Award Scheme”) on 24 July 2020with a duration of 10 years commencing from the adoption date. Theobjective of the Post-IPO Share Award Scheme is to align the interestsof selected participants with those of the Group and to encourage andretain selected participants to make contributions to the long-termgrowth and profits of the Group.Under the Post-IPO Share Award Scheme, Pop Mart Partner Limited (the“Share Award Trust”) was established in British Virgin Islands on 7 May2020. As the financial and operational policies of the Share Award Trustare governed by the Group, and the Group benefits from the ShareAward Trust’s activities, the Share Award Trust is consolidated in theGroup’s financial statements as a special purpose entity.
二零二三年年报ANNUAL REPORT 2023289NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注28以股份为基础的报酬（续）在未经股东批准下，受限制股份单位数目合共不得超过10%的股份，并受于采纳日期已发行股份总数5%的年度限额规限。于2020年7月24日，本公司董事会批准以零代价向股份奖励信托发行2,442,873股本公司普通股，用于首次公开发售后股份奖励计划的相关事宜。上述股份发行已于2020年7月28日完成，股份奖励信托持有的受限制股份单位列账为「就股份奖励计划持有的股份」，并从权益中扣除，直至受限制股份单位归属或注销。于2020年12月11日资本化发行后，首次公开发售后股份奖励计划下的股份数量已变为24,428,730股。根据首次公开发售后股份奖励计划，本集团向选定参与者（包括本集团雇员及第三方供应商）授出受限制股份单位，并附有下文所述的各种归属时间表及条件。各受限制股份单位的归属条件一经达致，受限制股份单位将被视为按零代价正式及有效发行予选定参与者，且概无转让限制。上述已授出受限制股份单位归属时间表各有不同，包括：•若干受限制股份单位于授出日期即时全面归属；•若干受限制股份单位于授出日期后第78日以单一批次归属；•若干受限制股份单位于授出日期后第90日以单一批次归属；•若干受限制股份单位的归属时间表约为300日，当中50%已授出受限制股份单位于授出日期后第90日归属，而余下50%已授出受限制股份单位则于整个归属期到期时归属；28 SHARE-BASED COMPENSATION(continued)The aggregate number of RSU will not exceed 10% shares withoutshareholders’approval subject to an annual limited of 5% of the totalnumber of issued shares as at the date of adoption.On 24 July 2020, the board of directors of the Company approved toissue 2,442,873 ordinary shares of the Company to the Share Award Trustfor nil consideration in relation to Post-IPO Share Award Scheme. Theabove issuance of shares was completed on 28 July 2020, and the RSUheld by the Share Award Trust was recorded as“Shares held for ShareAward Scheme”and deducted from equity until the RSU are vestedor cancelled. The number of shares under the Post-IPO Share AwardScheme have been changed to 24,428,730 after the capitalisation issueon 11 December 2020.Pursuant to the Post-IPO Share Award Scheme, the Group has grantedRSUs to selected participants which include employees of the Groupand third-party vendors with various vesting schedules and conditionsas described below. Once the vesting conditions of the respective RSUsare met, the RSU are considered duly and validly issued to the selectedparticipants at nil consideration, and free of restrictions on transfer.The above granted RSUs have various vesting schedules including:• Certain RSUs shall be fully vested immediately on the grant date;• Certain RSUs shall vest in a single tranche on the 78th day followingthe grant date;• Certain RSUs shall vest in a single tranche on the 90th day followingthe grant date;• Certain RSUs have vesting schedules of approximately 300 days,with 50% of granted RSUs vested on the 90th day following thegrant date, and the remaining 50% of granted RSUs vested uponthe maturity of the entire vesting period;
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司290NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注28以股份为基础的报酬（续）•若干受限制股份单位的归属时间表约为4年，当中50%已授出受限制股份单位于授出日期第二个周年日归属，25%已授出受限制股份单位于授出日期第三个周年日归属，而余下25%已授出受限制股份单位则于授出日期第四个周年日归属；•若干受限制股份单位的归属时间表约为45个月，当中25%已授出受限制股份单位于授出日期后第9个月末归属，而余下75%已授出受限制股份单位则于余下36个月归属期内分3期等额归属；•若干受限制股份单位的归属时间表为4年，当中25%已授出受限制股份单位于归属期间授出日期的每个周年日归属；及•若干受限制股份单位的归属时间表约为47个月，当中50%已授出受限制股份单位于授出日期后第23个月末归属，而余下50%已授出受限制股份单位则于余下24个月归属期内分2期等额归属；•若干受限制股份单位的归属时间表为3年，当中25%已授出受限制股份单位于授出日期的首个周年日归属，50%已授出受限制股份单位于授出日期的第二个周年日归属，而余下25%已授出受限制股份单位于授出日期的第三个周年日归属；•若干受限制股份单位的归属时间表为3年，当中25%已授出受限制股份单位于授出日期即时全面归属，而余下75%已授出受限制股份单位则于余下36个月归属期内分3期等额归属。为评估达成归属条件的可能性，截至每个报告期均会进行评估。以股份为基础的报酬开支其后将予以调整，以反映原有估计的修订。28 SHARE-BASED COMPENSATION(continued)• Certain RSUs have vesting schedules of 4 years, with 50% of grantedRSUs vested on the second anniversary of the grant date, 25% ofgranted RSUs vested on the third anniversary of the grant date,and the remaining 25% of granted RSUs vested on the fourthanniversary of the grant date;• Certain RSUs have vesting schedules of approximately 45 months,with 25% of granted RSUs vested by the end of the 9th monthfollowing the grant date, and the remaining 75% of granted RSUsvested in 3 equal installments over the remaining vesting period of36 months;• Certain RSUs have vesting schedules of 4 years, with 25% of grantedRSUs vested on every anniversary of the grant date over the vestingperiod; and• Certain RSUs have vesting schedules of approximately 47 months,with 50% of granted RSUs vested by the end of the 23th monthfollowing the grant date, and the remaining 50% of granted RSUsvested in 2 equal installments over the remaining vesting period of24 months.• Certain RSUs have vesting schedules of 3 years, with 25% ofgranted RSUs vested on the first anniversary of the grant date, 50%of granted RSUs vested on the second anniversary of the grantdate, and the remaining 25% of granted RSUs vested on the thirdanniversary of the grant date;• Certain RSUs have vesting schedules of 3 years, with 25% of grantedRSUs shall be fully vested immediately on the grant date, and theremaining 75% of granted RSUs vested in 3 equal installments overthe remaining vesting period of 36 months.Evaluations are made as of each reporting period to assess the likelihoodof vesting conditions being met. Share-based compensation expensesare then adjusted to reflect the revision of original estimates.
二零二三年年报ANNUAL REPORT 2023291NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注28以股份为基础的报酬（续）已授出受限制股份单位数目及相关公平值变动如下：28 SHARE-BASED COMPENSATION(continued)Movements in the number of RSUs granted and related fair value are asfollow:Years ended at 31 December截至12月31日止年度202320222023年2022年Averagefair valueper shareNumber ofsharesAveragefair valueper shareNumber ofshares每股平均公平值股份数目每股平均公平值股份数目(RMB)(Thousands)(RMB)(Thousands)（人民币元）（千股）（人民币元）（千股）Opening balance as at 1 January于1月1日的年初结余43.124,34360.043,825Granted授出19.218,75822.443,877Vested归属38.1(2,279)32.82(2,602)Forfeited失效34.43(213)58.13(757)Ending balance as at 31 December于12月31日的年末结余24.6310,60943.124,343There were no RSUs expired during the year ended 31 December 2023and 2022.The fair value of the granted RSUs was calculated based on the marketprice of the Company’s shares at the respective grant date.As the Group will receive employment or service of these employees inexchange for the grant of RSUs, share-based compensation expensesin respect of the employee services received is to be recognized asexpenses over the vesting period. The total amount to be expensed isdetermined by the fair value of the RSUs and taking into account thenumber of RSUs that are expected to be vested. The total expensescharged to the profit and loss for RSUs granted to the Group’s employeesunder the Post-IPO Share Award Scheme are RMB101,748,000 during theyear ended 31 December 2023 (31 December 2022: RMB97,739,000).截至2023年及2022年12月31日止年度，概无受限制股份单位已逾期。已授出受限制股份单位的公平值乃根据本公司股份于各自授出日期的市价计算。由于本集团将授出受限制股份单位以换取该等雇员的雇佣或服务，有关雇员服务收取的以股份为基础的报酬开支将于归属期确认为开支。将予支销的总金额按受限制股份单位的公平值厘定，且已考虑预期将归属的受限制股份单位数目。截至2023年12月31日止年度，根据首次公开发售后股份奖励计划就向本集团雇员授出的受限制股份单位自损益扣除的开支总额为人民币101,748,000元（2022年12月31日：人民币97,739,000元）。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司292NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注28以股份为基础的报酬（续）本集团透过受限制股份单位信托向若干第三方供应商授出部分受限制股份单位，作为收购资产的部分代价，且于各自授出日期随即悉数归属。上述交易入账为以股份为基础的付款交易，据此，受限制股份单位的公平值确认为收购资产的部分成本原值。截至2023年12月31日，就根据首次公开发售后股份奖励计划向本集团第三方供应商授出的受限制股份单位确认为资产的总金额为人民币13,325,000元（2022年12月31日：人民币13,325,000元）。29贸易应付款项28 SHARE-BASED COMPENSATION(continued)The Group granted some RSUs via the RSU Trust to certain third-partyvendors as part of consideration of purchased assets, which have beenfully vested immediately on the respective grant date. The abovetransactions are accounted for as share-based payment transactions,under which the fair value of the RSUs are recognized as part of theoriginal cost of purchased assets. As of 31 December 2023, total amountsrecognized as assets for RSUs granted to the Group’s third-partyvendors under the Post-IPO Share Award Scheme are RMB13,325,000 (31December 2022: RMB13,325,000).29 TRADE PAYABLESAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Merchandise payables商品应付款项444,944259,006The credit terms of merchandise payables granted by the suppliers areusually current to 180 days. At 31 December 2023 and 2022, the aginganalysis of the merchandise payables based on invoice date is as follows:As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Within 30 days30天以内224,494100,31730 to 90 days30至90天150,22675,63290 to 180 days90至180天26,90746,039Over 180 days180天以上43,31737,018Total总计444,944259,006The trade payables are mainly denominated in RMB.供应商授予的商品应付款项的信贷期通常为即期至180天。于2023年及2022年12月31日，基于发票日期的商品应付款项的账龄分析如下：贸易应付款项主要以人民币计值。
二零二三年年报ANNUAL REPORT 2023293NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注30应付授权费30 LICENSE FEES PAYABLESAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元License fees payables应付授权费194,200154,823Less: non-current portion减：非即期部分(14,807)(21,306)Current portion即期部分179,393133,517As disclosed in Note 15(a), the Group entered into various licenseagreements with artists to obtain exclusive and non-exclusive LicensedIPs. Pursuant to the license agreements, fixed minimum payments arepayable in tranches during the contracted term while variable paymentsthat depend on sales are payable in the period in which the conditionthat triggers those payments occurs.As at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Analysis of license fees payables:应付授权费分析：Non-current非即期– the first to second year－第一至第二年10,27116,614– the second to fifth year－第二至第五年4,0853,342– more than five years－五年以上4511,35014,80721,306Current即期179,393133,517The license fees payables are mainly denominated in RMB, USD and HKD.The maturity profile of the Group’s license fees based on contractualundiscounted cash flows is disclosed in Note 3.1(c).诚如附注15(a)所披露，本集团与艺术家订立若干授权协议，以取得独家及非独家授权IP。根据授权协议，固定最低付款须于合约期内分期支付而基于销量的可变付款须于触发该等付款的条件发生的期间内支付。应付授权费主要以人民币、美元及港元计值。本集团基于合约未贴现现金流量的授权费到期情况于附注3.1(c)披露。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司294NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注31其他应付款项31 OTHER PAYABLESAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Wages, salaries and other employee benefits工资、薪金及其他雇员福利126,76991,174Payable for leasehold improvement应付租赁装修款项142,33356,116Other tax payables应付其他税项78,69615,746Accrued sales and marketing expenses应计销售及营销开支60,04557,648Logistics fees物流费用39,21149,906Payables for short-term and variable rental expense应付短期及可变租金开支24,6384,279Deposits payable应付押金11,9794,711Others其他31,17029,211Total总计514,841308,791As at 31 December 2023 and 2022, the carrying amounts of otherpayables are considered to approximate their fair values, due to theirshort-term nature.于2023年及2022年12月31日，由于其他应付款项具短期性质，其账面值被视为与其公平值相若。
二零二三年年报ANNUAL REPORT 2023295NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注32合约负债32 CONTRACT LIABILITIESAs at 31 DecemberAs at 1 January于12月31日于1月1日2023202220222023年2022年2022年RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元Online sales线上销售49,35239,73176,082Customer loyalty programme (i)客户忠诚度计划(i)26,27122,07731,240Wholesales批发30,50418,5188,295License income授权收入6,0168,4714,007112,14388,797119,624(i) During the year ended 31 December 2023 and 2022, the pointsexpire at the end of each six months from the next monthsfollowing the initial sales occurs.(ii) The Group applied the practical expedient of not to disclosethe transaction price allocated to the unsatisfied performanceobligations as contract terms less than 12 months.Revenue recognised in relation to contract liabilities balance at thebeginning of the year:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Credited to the consolidated statement ofprofit or loss and other comprehensiveincome计入综合损益及其他全面收益表82,797113,234(i)截至2023年及2022年12月31日止年度，积分于最初销售发生后下一个月起计每六个月完结时到期。(ii)本集团应用实际权宜方法，不披露分配至合约期限少于12个月的未完成履约责任的交易价格。就年初合约负债结余确认的收益：
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司296NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注33工资、薪金及其他雇员福利33 WAGES, SALARIES AND OTHER EMPLOYEEBENEFITSYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Salaries,bonuses and allowances工资、花红及津贴861,248686,432Contributions to pension plans (a)退休金计划供款(a)85,49169,424Share-based compensation expenses (Note 28)以股份为基础的报酬开支（附注28）101,74897,7391,048,487853,595(a) Contributions to pension plansEmployees of the Group companies in the PRC are required toparticipate in a defined contribution retirement scheme administeredand operated by the local municipal government. The Group contributesfunds which are calculated on fixed percentage of the employees’salary(subject to a floor and cap) as set by local municipal governments toeach scheme locally to fund the retirement benefits of the employees.The Group has no other obligations for the payment of retirement andother post-retirement benefits of employees or retirees other than thedefined contribution payments as disclosed above.(a)退休金计划供款本集团中国公司的雇员须参加由当地市政府管理及运作的定额供款退休金计划。本集团向当地各计划供款（按当地市政府设定的雇员薪金的固定百分比（设有下限及上限）计算），为雇员的退休福利提供资金。除上文所披露作界定供款者外，本集团并无其他向雇员或退休人士支付退休金及其他退休后福利的责任。
二零二三年年报ANNUAL REPORT 2023297NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注33工资、薪金及其他雇员福利（续）(b)五名最高酬金人士截至2023年12月31日止年度，本集团酬金最高的五名人士中包括一名董事（2022年：无），其酬金反映在附注38所示分析中。截至2023年12月31日止年度，应付予其余四名（2022年：五名）人士的酬金如下：33 WAGES, SALARIES AND OTHER EMPLOYEEBENEFITS(continued)(b) Five highest paid individualsThe five individuals whose emoluments were the highest in the Groupfor the years ended 31 December 2023 included 1 director whoseemoluments is reflected in the analysis shown in Note 38 (2022: nil). Theemoluments payables to the remaining 4 (2022: 5) individuals during theyear ended 31 December 2023 are as follows:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Salaries and allowances工资及津贴5,3765,893Bonuses花红1,3322,177Contributions to pension plans退休金计划供款255298Share-based compensation expenses以股份为基础的报酬开支24,99119,85431,95428,222The emoluments fell within the following bands:Year ended 31 December截至12月31日止年度202320222023年2022年Emolument bands (in HKD)酬金范围（以港元计）HKD4,000,001 to HKD4,500,0004,000,001港元至4,500,000港元–2HKD5,500,001 to HKD6,000,0005,500,001港元至6,000,000港元–1HKD6,000,001 to HKD6,500,0006,000,001港元至6,500,000港元–1HKD6,500,001 to HKD7,000,0006,500,001港元至7,000,000港元1–HKD8,500,001 to HKD9,000,0008,500,001港元至9,000,000港元1–HKD9,000,001 to HKD9,500,0009,000,001港元至9,500,000港元1–HKD10,000,001 to HKD10,500,00010,000,001港元至10,500,000港元1–HKD11,000,001 to HKD11,500,00011,000,001港元至11,500,000港元–1酬金属于以下范围：
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司298NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注34综合现金流量表附注(a)除所得税前溢利与经营活动产生的现金流量净额之对账：34 NOTES TO THE CONSOLIDATED STATEMENTOF CASH FLOWS(a) Reconciliation of profit before income tax to net cash flowsgenerated from operations:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Profit before income tax除所得税前溢利1,415,755639,529Adjustments for:就以下各项作出调整：Fair value gains from financial assets at FVPL(Note 23)按公平值计入损益的金融资产的公平值收益（附注23）(6,111)(49,479)Impairment losses on Property, plant and equipment(Note 14)物业、厂房及设备减值亏损（附注14）–467Impairment losses on right-of-use assets (Note 16)使用权资产减值亏损（附注16）–545Share-based compensation expenses以股份为基础的报酬开支101,74897,739Share of results of joint ventures and associates(Note 18)分占合营企业及联营公司业绩（附注18）(33,229)(27,046)Depreciation of property, plant and equipment(Note 14)物业、厂房及设备折旧（附注14）233,291193,922Amortisation of intangible assets (Note 15)无形资产摊销（附注15）86,88480,771Loss on disposal of property, plant and equipment,intangible assets处置物业、厂房及设备及无形资产的亏损2,540197Depreciation of right-of-use assets使用权资产折旧348,390330,124Provision for impairment on financial assets金融资产减值拨备7454,500Impairment losses on inventory (Note 22)存货减值亏损（附注22）8,0163,692Finance income, net (Note 10)财务收入净额（附注10）(151,880)(29,103)Foreign exchange gains or loss外汇损益(1,501)556Changes in working capital:营运资金变动：Inventories存货(29,546)(81,848)Trade receivables贸易应收款项(122,727)(27,132)Prepayments and other receivables预付款项及其他应收款项(20,058)(69,674)Trade payables贸易应付款项167,44145,624Other payables其他应付款项120,10450,943Contract liabilities合约负债23,346(30,827)Cash generated from operations经营活动产生的现金2,143,2081,133,500
二零二三年年报ANNUAL REPORT 2023299NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注34综合现金流量表附注（续）(b)处置物业、厂房及设备及无形资产所得款项：34 NOTES TO THE CONSOLIDATED STATEMENTOF CASH FLOWS(continued)(b) Proceeds from disposal of property, plant and equipmentand intangible assets:Year ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Net book amount (Note 14 and Note 15)账面净值（附注14及附注15）3,4062,560Loss on disposal of property, plant and equipmentand intangible assets处置物业、厂房及设备及无形资产的亏损(2,540)(197)8662,363(c) Net cash/(debt) reconciliationAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Cash and cash equivalents现金及现金等价物2,077,927685,314Liquid investments流动性投资8,41512,829Lease liabilities – due within 1 year租赁负债－一年以内到期(351,799)(293,567)Lease liabilities – due after 1 year租赁负债－一年后到期(425,954)(447,564)Borrowing借款(15,058)–Net cash/(debt)现金╱（债务）净额1,293,531(42,988)(c)现金╱（债务）净额对账
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司300NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注34综合现金流量表附注（续）(c)现金╱（债务）净额对账（续）34 NOTES TO THE CONSOLIDATED STATEMENTOF CASH FLOWS(continued)(c) Net cash/(debt) reconciliation(continued)Cash and cashequivalentsLiquidinvestmentsLeaseliabilitiesDividendsBorrowing (i)Net cash/(debt)现金及现金等价物流动性投资租赁负债股息借款(i)现金╱（债务）净额RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元Net cash as at 1 January 2023于2023年1月1日的现金净额685,31412,829(741,131)––(42,988)Cash flows现金流量1,382,979(546)384,999121,609–1,889,041Addition添置––(386,216)(117,317)–(503,533)Interests accrued for leases liabilities租赁负债之应计利息––(35,405)––(35,405)Acquisition of a subsidiary收购附属公司––––(14,514)(14,514)Foreign exchange adjustments外汇调整9,634391–(4,292)(544)5,189Other non-cash movement其他非现金变动–(4,259)–––(4,259)Net cash as at 31 December 2023于2023年12月31日的现金净额2,077,9278,415(777,753)–(15,058)1,293,531Net cash as at 1 January 2022于2022年1月1日的现金净额5,264,71020,544(621,452)––4,663,802Cash flows现金流量(4,984,823)–323,041220,086–(4,441,696)Addition添置––(408,663)(209,490)–(618,153)Interests accrued for leases liabilities租赁负债之应计利息––(34,057)––(34,057)Foreign exchange adjustments外汇调整405,4271,660–(10,596)–396,491Other non-cash movement其他非现金变动–(9,375)–––(9,375)Net cash as at 31 December 2022于2022年12月31日的现金净额685,31412,829(741,131)––(42,988)(i) As at 31 December 2023, the outstanding short-term borrowingwhich arose from acquisition of a subsidiary represented an amountof JPY 300,000,000 (equivalent to RMB15,058,000) at a fixed interestrate of 1.475%. The borrowing was unsecured and due in one year.(i)于2023年12月31日，因收购附属公司而产生的未偿还短期借款金额为300,000,000日元（相当于人民币15,058,000元），按固定利率1.475%计息。该借款为无抵押且于一年内到期。
二零二三年年报ANNUAL REPORT 2023301NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注35承诺(a)资本承诺35 COMMITMENTS(a) Capital commitmentsAs at 31 December于12月31日202320222023年2022年RMB’000RMB’000人民币千元人民币千元Contractual but not provided for已订约但未拨备– Property, plant and equipment－物业、厂房及设备–506,975– Acquiring investments measured at fair valuethrough profit or loss－收购按公平值计量且其变动计入损益的投资41,00073,50041,000580,47536 RELATED PARTY TRANSACTIONSParties are considered to be related if one party has the ability, directlyor indirectly, control the other party or exercise significant influenceover the other party in making financial and operation decisions. Partiesare also considered to be related if they are subject to common control.Members of key management and their close family member of Popmartare also considered as related parties.The following transactions were carried out in the ordinary course of theGroup’s business and were determined based on mutually agreed termsduring the relevant periods.36关联方交易若一方有能力直接或间接控制另一方，或在作出财务及经营决策时对另一方发挥重大影响，即视为有关联。倘所涉各方受共同控制，则亦视为有关联。泡泡玛特的主要管理层成员及其近亲成员亦被视为关联方。下列交易乃于本集团日常业务过程中进行，并根据于有关期间共同协定的条款厘定。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司302NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注36关联方交易（续）36 RELATED PARTY TRANSACTIONS(continued)Names of the major related partiesNature of relationship主要关联方名称关系的性质Mr. Wang NingExecutive director of the Group王宁先生本集团执行董事Nanjing Pop MartJoint venture南京泡泡玛特合营企业Singapore PopJoint ventureSingapore Pop合营企业How2work LimitedAssociateHow2work Limited联营企业Hainan Souteji Trading Co., Ltd.Associate海南搜特吉商贸有限公司联营企业Shenzhen Maoyu Xinghe Cultural Creativity Co., Ltd.Associate深圳市猫宇星河文化创意有限公司联营企业Shanghai Qixing Network Technology Co., Ltd.Associate上海骑形网络科技有限公司联营企业DanniAssociateDanni联营企业
二零二三年年报ANNUAL REPORT 2023303NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注36关联方交易（续）与关联方进行的重大交易：(a)销售商品予36 RELATED PARTY TRANSACTIONS(continued)Significant transactions with related parties:(a) Sales of goods toYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Joint ventures合营企业266,470213,107An associate联营企业20,44918,868Total总计286,919231,975(b) Purchase of goods fromYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Associates联营企业414,775170,291(c) Purchase of service fromYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Associates联营企业6,88412,349(b)购买商品自(c)获得服务自
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司304NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注36关联方交易（续）与关联方进行的重大交易：（续）(d)关键管理人员薪酬36 RELATED PARTY TRANSACTIONS(continued)Significant transactions with related parties:(continued)(d) Key management compensationYear ended 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Salaries and other benefits薪金及其他福利7,8656,895Contributions relating to social insurance,housing fund and retirement scheme社保、住房公积金及退休计划相关供款384414Bonus花红1,2502,333Share-based compensation expenses以股份为基础的报酬开支18,77614,76528,27524,407The amounts disclosed above include wages, salaries and bonusespayable of RMB1,930,000 (2022: RMB2,852,000) which were unpaidas at year end and are included in other payables and accruals.上述所披露金额包括于年末未支付的应付工资、薪金及花红人民币1,930,000元（2022年：人民币2,852,000元），并计入其他应付款项及应计费用。
二零二三年年报ANNUAL REPORT 2023305NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注36关联方交易（续）与关联方进行的重大交易：（续）(e)与关联方的重大年结日结余：36 RELATED PARTY TRANSACTIONS(continued)Significant transactions with related parties:(continued)(e) Significant year-end balances with related parties:As at 31 December截至12月31日止年度202320222023年2022年RMB’000RMB’000人民币千元人民币千元Assets资产Trade receivables贸易应收款项Joint ventures合营企业85,17582,959Associates联营公司6,0448,391Other receivables其他应收款项A joint venture一家合营企业4,3185,256Prepayments预付款项Associates联营公司13,12541,388Trade payables贸易应付款项Associates联营公司105,43326,417License fees payables应付授权费Associates联营公司8,14221,306Except for trade receivables/payables with related parties whichare with credit terms of 30-180 days, all the balances with relatedparties are unsecured, interest free and have no fixed terms ofrepayment.除与关联方的贸易应收╱应付款项的信贷期为30-180天外，所有与关联方的结余均为无抵押、免息且无固定还款期。
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司306NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注37本公司的资产负债表及其他储备变动本公司资产负债表37 BALANCE SHEET AND OTHER RESERVEMOVEMENT OF THE COMPANYBalance sheet of the CompanyAs at31 December2023As at31 December2022于2023年12月31日于2022年12月31日RMB’000RMB’000人民币千元人民币千元Assets资产Non-current assets非流动资产Investment accounted for using the equity method使用权益法入账的投资22,44627,141Investments in subsidiaries于附属公司的投资7,876,5567,644,435Total non-current assets总非流动资产7,899,0027,671,576Current assets流动资产Financial assets at fair value through profit or loss按公平值计入损益的金融资产8,41512,829Other receivables其他应收款项192,36033,299Term deposits with initial term over three monthsand within one year初步为期三个月以上及一年以内的定期存款3,885,3624,356,220Cash and cash equivalents现金及现金等价物150,1104,480Total current assets总流动资产4,236,2474,406,828Total assets总资产12,135,24912,078,404Equity权益Share capital股本885908Other reserves (a)其他储备(a)11,745,47311,898,319Retained earnings保留盈利219,16144,790Total equity总权益11,965,51911,944,017Liabilities负债Current liabilities流动负债Other payables其他应付款项169,730134,387Total current liabilities总流动负债169,730134,387Total liabilities总负债169,730134,387Total equity and liabilities总权益及负债12,135,24912,078,404The balance sheet of the Company was approved by the Board ofDirectors on 20 March 2024 and was signed on its behalf:王宁先生司德先生Mr. Wang NingMr. Si De本公司资产负债表已获董事会于2024年3月20日批准并由下列董事代表董事会签署：
二零二三年年报ANNUAL REPORT 2023307NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注37本公司的资产负债表及其他储备变动（续）附注(a)本公司的其他储备变动37 BALANCE SHEET AND OTHER RESERVEMOVEMENT OF THE COMPANY(continued)Note (a) Other reserve movement of the CompanyTreasurysharesSharepremiumTranslationreservesShare-basedcompensationreservesTotal库存股股份溢价汇兑储备以股份为基础的报酬储备总计RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元As at 1 January 2023于2023年1月1日(186,395)11,842,888140,317101,50911,898,319Currency translation difference货币换算差额––198,089–198,089Dividends declared宣派股息–(118,995)––(118,995)Purchase of own shares回购自身股份(333,709)–––(333,709)Cancellation of shares注销股份509,636(509,613)––23Share vested under the ShareAward Scheme根据股份奖励计划归属之股份–86,863–(86,865)(2)Share-based compensationexpenses以股份为基础的报酬开支–––101,748101,748Balance at 31 December 2023于2023年12月31日的结余(10,468)11,301,143338,406116,39211,745,473As at 1 January 2022于2022年1月1日–12,418,742(910,593)84,27311,592,422Currency translation difference货币换算差额––1,050,910–1,050,910Dividends declared宣派股息–(212,990)––(212,990)Purchase of own shares回购自身股份(634,310)–––(634,310)Cancellation of shares注销股份447,915(447,900)––15Share vested under the ShareAward Scheme根据股份奖励计划归属之股份–85,036–(85,037)(1)Share-based compensationexpenses以股份为基础的报酬开支–––102,273102,273Balance at 31 December 2022于2022年12月31日的结余(186,395)11,842,888140,317101,50911,898,319
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司308NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注38董事福利及权益(a)董事酬金38 BENEFITS AND INTERESTS OF DIRECTORS(a) Directors’remunerationDirector’sfeeSalaries andallowancesBonusEmployer’scontribution toa retirementbenefitschemeShare-basedcompensationexpensesTotal董事袍金工资及津贴花红雇主对退休福利计划作出之供款以股份为基础的报酬开支总计RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民币千元人民币千元人民币千元人民币千元人民币千元人民币千元Directors’remuneration duringthe year ended 31 December2023 is as follows:截至2023年12月31日止年度的董事酬金如下：Directors董事Mr. Wang Ning王宁先生–1,88115063–2,094Mr. Si De司德先生–1,881300635,7828,026Ms. Liu Ran刘冉女士–1,28110063–1,444Ms. Yang Tao杨涛女士–1,28320068–1,551Mr. Tu Zheng屠铮先生––––––Mr. He Yu何愚先生––––––Mr. Wu Liansheng吴联生先生136––––136Mr. Zhang Jianjun张建君先生136––––136Mr. Yan Jinliang颜劲良先生136––––136Directors’remuneration duringthe year ended 31 December2022 is as follows:截至2022年12月31日止年度的董事酬金如下：Directors董事Mr. Wang Ning王宁先生–99836958–1,425Mr. Si De司德先生–1,45932958–1,846Ms. Liu Ran刘冉女士–99821958–1,275Ms. Yang Tao杨涛女士–81721563–1,095Mr. Tu Zheng屠铮先生––––––Mr. He Yu何愚先生––––––Mr. Wu Liansheng吴联生先生130––––130Mr. Zhang Jianjun张建君先生130––––130Mr. Yan Jinliang颜劲良先生130––––130
二零二三年年报ANNUAL REPORT 2023309NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注38董事福利及权益（续）(b)截至2023及2022年12月31日止年度，非执行董事并收取任何酬金。截至2023年及2022年12月31日止年度，概无其他董事放弃或同意放弃任何酬金。(c)董事退休福利概无任何董事就管理本公司或其附属公司事务而提供之其他服务获支付或应收取退休福利。(d)董事离职补偿年内概无就提前终止委任向董事支付补偿金。(e)提供予第三方以提供董事服务的代价概无就担任本公司董事提供服务向该等董事的前雇主作出付款。(f)有关以董事、董事之受控制法团及关连实体为受益人之贷款、准贷款及其他交易之资料于年内，概无以董事、董事之受控制法团及关连实体为受益人之贷款、准贷款或其他交易。(g)董事在交易、安排或合约中的重大权益并无有关本集团业务而本集团作为其中一方且本集团董事于其中（不论直接或间接）拥有重大权益的重大交易、安排及合约（于年底或于年内任何时间存续）。38 BENEFITS AND INTERESTS OF DIRECTORS(continued)(b)The non-executive Directors have not received any emoluments for theyears ended 31 December 2023 and 2022. None of the other Directorswaived or have agreed to waive any emoluments during the yearsended 31 December 2023 and 2022.(c) Directors’retirement benefitsNo retirement benefits were paid to or receivable by any directors inrespect of their other services in connection with the management ofthe affairs of the or its subsidiaries undertaken.(d) Directors’termination benefitsNo payment was made to directors as compensation for the earlytermination of the appointment during the year.(e) Consideration provided to third parties for makingavailable directors’servicesNo payment was made to the former employer of directors for makingavailable the services of them as a director of the Company.(f) Information about loans, quasi-loans and other dealingsin favour of directors, controlled bodies corporate by andconnected entities with such directorsThere are no loans, quasi-loans and other dealings in favour of directors,controlled bodies corporate by and connected entities with suchdirectors during the year.(g) Directors’material interests in transactions, arrangementsor contractsNo significant transactions, arrangements and contracts in relation to theGroup’s business to which the Group was a party and in which a directorof the Group had a material interest, whether directly or indirectly,subsisted at the end of the year or at any time during the year.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司310NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要本附注载列编制该等综合财务报表时所采用的其他可能重要的会计政策。除非另有说明，该等政策始终适用于呈列的全部年份。(a)物业、厂房及设备物业、厂房及设备（在建工程除外）乃按历史成本减累计折旧及减值列账。历史成本包括收购项目的直接应占支出。后续成本仅在项目的相关未来经济利益很可能流入本集团，且项目的成本能可靠计量之情况下，方计入有关资产之账面值或确认为独立资产（如适用）。替换零件的账面值不予确认。所有其他维修及保养费在其产生的财政期间自综合损益及其他全面收益表扣除。物业、厂房及设备以直线法按以下估计可使用年期分配成本（扣除剩余价值）计算折旧：机器人商店售货机5年模具1.5至3年设备及其他5年租赁装修余下租期或可使用年期，以较短者为准资产的剩余价值及可使用年期于各结算日均会进行检讨，并在适当情况下作出调整。倘资产账面值高于其估计可收回金额，则会立即将该资产的账面值撇减至其可收回金额。39 SUMMARY OF OTHER ACCOUNTING POLICIESThis note provides a list of other potentially material accounting policiesadopted in the preparation of these consolidated financial statements.These policies have been consistently applied to all the years presented,unless otherwise stated.(a) Property, plant and equipmentProperty, plant and equipment, other than construction in progress, arestated at historical cost less accumulated depreciation and impairment.Historical cost includes expenditures that are directly attributable to theacquisition of the items.Subsequent costs are included in the asset’s carrying amount orrecognised as a separate asset, as appropriate, only when it is probablethat future economic benefits associated with the item will flow to theGroup and the cost of the item can be measured reliably. The carryingamount of the replaced part is derecognised. All other repairs andmaintenance are charged in the consolidated statement of profit or lossand other comprehensive income during the financial period in whichthey are incurred.Depreciation on property, plant and equipment is calculated using thestraight-line method to allocate their cost, net of their residual values,over their estimated useful lives, as follows:Roboshop machines5 yearsMoulds1.5-3 yearsEquipment and others5 yearsLeasehold improvementShorter of remaining lease term or useful lifeThe assets’residual values and useful lives are reviewed, and adjusted ifappropriate, at each balance sheet date.An asset’s carrying amount is written down immediately to itsrecoverable amount if the asset’s carrying amount is greater than itsestimated recoverable amount.
二零二三年年报ANNUAL REPORT 2023311NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(a)物业、厂房及设备（续）出售的收益及亏损透过将所得款项与账面值比较而厘定，并于综合损益及其他全面收益表「其他收益－净额」内确认。在建工程指正在建设或有待安装的楼宇、厂房及机械，并按成本减累计减值亏损列账。成本包括建造楼宇、厂房成本及机械、安装、测试及其他直接成本。在建工程暂不计提折旧准备，直至有关资产建成及可供拟定用途为止。(b)独立财务报表于附属公司之投资按成本扣除减值入账。成本包括投资的直接应占成本。附属公司的业绩在本集团账目内按已收股息及应收款项入账。倘自附属公司就有关投资所收取的股息超出宣派股息期间该附属公司的全面收益总额，或倘独立财务报表的投资账面值超出财务资料所示被投资方之资产净值（包括商誉）账面值，则须对该等附属公司的投资进行减值测试。(c)分部报告经营分部的呈报方式与提供予主要经营决策者的内部报告的方式一致。主要经营决策者（负责分配资源及评估经营分部的表现）已被确认为本集团执行董事。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(a) Property, plant and equipment(continued)Gains and losses on disposals are determined by comparing theproceeds with the carrying amount and are recognised within“Othergains- net”in the consolidated statement of profit or loss and othercomprehensive income.Construction-in-progress represents buildings, plant and machineryunder construction or pending installation and is stated at cost lessaccumulated impairment losses. Cost includes the costs of constructionof buildings, the costs of plant and machinery, installation, testingand other direct costs. No provision for depreciation is made onconstruction-in-progress until such time as the relevant assets arecompleted and ready for intended use.(b) Separate financial statementsInvestments in subsidiaries are accounted for at cost less impairment.Cost includes direct attributable costs of investment. The results ofsubsidiaries are accounted for by the Group on the basis of dividendreceived and receivables.Impairment testing of the investments in subsidiaries is required uponreceiving a dividend from these investments if the dividend exceeds thetotal comprehensive income of the subsidiary in the period the dividendis declared or if the carrying amount of the investment in the separatefinancial statements exceeds the carrying amount in the financialinformation of the investee’s net assets including goodwill.(c) Segment reportingOperating segments are reported in a manner consistent with theinternal reporting provided to the CODM. The CODM, who is responsiblefor allocating resources and assessing performance of the operatingsegments, has been identified as executive directors of the Group.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司312NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(d)抵销金融工具当有合法可强制执行权利抵销已确认金额，并有意按净额基准结算或同时变现资产和结算负债时，金融资产与负债可互相抵销，并在资产负债表呈报其净额。合法可强制执行权利不得依赖未来事件而定，而在一般业务过程中以及倘本集团或对手方一旦出现违约、无偿债能力或破产时，其必须为可强制执行。(e)现金及现金等价物于综合现金流量表中，现金及现金等价物包括手头现金、银行活期存款及其他原到期日为三个月或以内的高流动性短期投资。(f)股本及就股份奖励计划持有的股份普通股分类为权益。发行新股份直接应占增量成本在权益内列为所得款项（除税后）的扣减。就股份奖励计划持有的股份披露于「就股份奖励计划持有的股份」，且自权益扣除，直至股份归属或注销为止。(g)贸易应付款项该等金额指于财政年度结束前向本集团提供商品及服务的未支付负债。有关金额乃无抵押且呈列为流动负债，除非付款于报告期后12个月内并无到期。贸易应付款项初步按公平值确认，其后采用实际利率法按摊销成本计量。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(d) Offsetting financial instrumentsFinancial assets and liabilities are offset and the net amount reported inthe balance sheet when there is a legally enforceable right to offset therecognised amounts and there is an intention to settle on a net basisor realise the asset and settle the liability simultaneously. The legallyenforceable right must not be contingent on future events and must beenforceable in the normal course of business and in the event of default,insolvency or bankruptcy of the Group or the counterparty.(e) Cash and cash equivalentsIn the consolidated statement of cash flows, cash and cash equivalentsincludes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three monthsor less.(f) Share capital and shares held for Share Award SchemeOrdinary shares are classified as equity.Incremental costs directly attributable to the issuance of new shares areshown in equity as a deduction, net of tax, from the proceeds.Shares held for the Share Award Scheme are disclosed as“Shares heldfor Share Award Scheme”and deducted from equity until the shares arevested or cancelled.(g) Trade payablesThese amounts represent liabilities for goods and services providedto the Group prior to the end of financial year which are unpaid. Theamounts are unsecured and are presented as current liabilities unlesspayment is not due within 12 months after the reporting period. Theyare recognised initially at their fair value and subsequently measured atamortised cost using the effective interest method.
二零二三年年报ANNUAL REPORT 2023313NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(h)应付授权费应付授权费按公平值初步入账，即以后各年固定最低定期付款之现值。其随后采用实际利率法按摊销成本减付款呈列。应付授权费产生之利息作为利息开支记入综合收益表。预期现金流量估计数变动于综合收益表中确认为经销成本。经修订预期现金流量利用原始有效利率贴现，以得出负债账面值。(i)雇员福利(i)短期责任预期在雇员提供相关服务的期末后12个月内悉数清算的工资及薪金负债于截至报告期末就雇员服务予以确认，并按结算有关负债之预期所支付金额计量。负债于资产负债表内呈列为即期雇员福利责任。(ii)退休金责任本集团按月向中国相关省市政府所组织的退休金计划供款。市政府承诺承担该等计划下所有现有及未来退休职工的退休福利责任，而本集团除作出供款外并无进一步承担退休后福利的责任。本集团于香港根据强制性公积金（「强基金」）计划条例向计划供款，有关资产一般以独立形式由受托人管理的基金持有。退休金计划一般由雇员及本集团所作供款提供资金。本集团于韩国向类似的退休金计划供款。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(h) License fees payableLicense fees payable are initially recorded at the fair value, whichrepresents the present value of the fixed minimum periodic payments tobe made in subsequent years. They are subsequently stated at amortisedcost using the effective interest method less payments made.Interests incurred on license fees payable are charged to theconsolidated income statement as interest expense. Changes in estimateof the expected cash flows are recognised as distribution costs in theconsolidated income statement. The revised expected cash flows arediscounted using the original effective rate to arrive at the carryingamount of the liability.(i) Employee benefits(i) Short-term obligationsLiabilities for wages and salaries that are expected to be settledwholly within 12 months after the end of the period in which theemployees render the related service are recognised in respect ofemployees’services up to the end of the reporting period and aremeasured at the amounts expected to be paid when the liabilitiesare settled. The liabilities are presented as current employee benefitobligations in the balance sheet.(ii) Pension obligationsThe Group contributes on a monthly basis to various definedcontribution retirement benefit plans organised by relevantmunicipal and provincial governments in the PRC. The municipalgovernments undertake to assume the retirement benefitobligations of all existing and future retired employees under theseplans and the Group has no further obligation for post-retirementbenefits beyond the contributions made.In Hong Kong, the Group makes contributions to the scheme underthe Mandatory Provident Fund Schemes (“MPF”) Ordinance, theassets of which are generally held in separate trustee-administratedfunds. The pension plans are generally funded by payments fromemployees and by the Group. There is similar pension scheme inSouth Korea to which the Group also makes contributions.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司314NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(i)雇员福利（续）(ii)退休金责任（续）本集团向该等定额供款计划所作的供款于产生时支销，而雇员因在取得全数供款前退出计划而被没收的供款将不会用作扣减该等供款。本集团毋须承担雇员合约的任何其他退休后福利责任。2022年6月17日颁布取消使用雇主对强积金及职业退休计划条例（「职业退休计划条例」）的「强制性」供款所产生的累计权益，以抵销自过渡日期（不迟于2025年）累积的长期服务金（「长期服务金」）及遣散费（「修订」）的规定。由于长期服务金为定额福利计划，修订变更雇主的法律责任，根据国际会计准则第19条被视为一项计划修订。由于本集团仅有少量雇员属于修订内范围，本集团认为修订将对本集团的财务状况及业绩影响甚微。(j)借款借款初步按公平值并扣除产生的交易成本确认。借款其后按摊销成本计量；所得款项（扣除交易成本）与赎回价值的任何差额于借款期间内采用实际利率法于收益表确认。当合约中规定的责任解除、取消或届满时，借款自资产负债表中剔除。已消除或转让予另一方的金融负债的账面值与已付代价（包括任何已转让的非现金资产或所承担的负债）之间的差额，于收益表中确认为其他收入或融资成本。除非本集团有无条件权利将负债的结算递延至报告期间后最少12个月，否则借款分类为流动负债。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(i) Employee benefits(continued)(ii) Pension obligations(continued)The Group’s contributions to these defined contribution plans areexpensed as incurred and not reduced by contributions forfeitedby those employees who leave the plans prior to vesting fullyin the contributions. The Group has no other post-employmentobligations under the employment contracts.The abolition of the use of the accrued benefits derived fromemployers’“mandatory”contributions to MPF and the OccupationalRetirement Schemes (“ORSO”) to offset the long service payment(“LSP”) and severance payment (the“Amendment”) accruedfrom the transition date (no later than 2025) was enacted on 17June 2022. As the LSP is a defined benefit plan, the Amendmentchanges the employer’s legal obligation which is considered asa plan amendment under IAS 19. As the Group only has very fewemployees who are in the scope of the Amendment, the Group isof the view that the Amendment will have immaterial impact to theGroup’s financial position and performance.(j) BorrowingsBorrowings are initially recognised at fair value, net of transaction costsincurred. Borrowings are subsequently measured at amortised cost;any difference between the proceeds (net of transaction costs) and theredemption value is recognised in the income statement over the periodof the borrowings using the effective interest method.Borrowings are removed from the balance sheet when the obligationspecified in the contract is discharged, cancelled or expired. Thedifference between the carrying amount of a financial liability that hasbeen extinguished or transferred to another party and the considerationpaid, including any non-cash assets transferred or liabilities assumed, isrecognised in the income statement as other income or finance costs.Borrowings are classified as current liabilities unless the Group has anunconditional right to defer settlement of the liability for at least 12months after the reporting period.
二零二三年年报ANNUAL REPORT 2023315NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(k)借款成本可直接归属于购置、兴建或生产合资格资产（需经较长时间方能达至拟定用途或出售状态）的一般及特定借款成本，计入该等资产的成本，直至资产大致达至其拟定用途或出售状态为止。所有其他借款成本于其产生期间在综合损益及其他全面收益表确认。(l)利息收入按公平值计入损益的金融资产所得利息收入计入「其他收益－净额」。倘自为持作现金管理用途的金融资产赚取利息收入，利息收入则呈列为财务收入（请参阅上文附注9）。任何其他利息收入乃计入其他收入。利息收入的计算方法是将实际利率应用于金融资产的账面总值，但随后发生信贷减值的金融资产除外。对于信贷减值的金融资产，实际利率应用于金融资产的账面净值（经扣除亏损拨备）。(m)股息就于报告期末或之前已宣派股息但于报告期末并未分派之任何股息金额（经适当授权及不再由实体酌情决定）作出拨备。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(k) Borrowing costsGeneral and specific borrowing costs directly attributable to theacquisition, construction or production of qualifying assets, which areassets that necessarily take a substantial period of time to get ready fortheir intended use or sale, are added to the cost of those assets, untilsuch time as the assets are substantially ready for their intended use orsale.All other borrowing costs are recognised in the consolidated statementof profit or loss and other comprehensive income in the period in whichthey are incurred.(l) Interest incomeInterest income from financial assets at FVPL is included in the“Othergains- net”.Interest income is presented as finance income where it is earned fromfinancial assets that are held for cash management purposes, see Note 9above. Any other interest income is included in other income.Interest income is calculated by applying the effective interest rate tothe gross carrying amount of a financial asset except for financial assetsthat subsequently become credit-impaired. For credit-impaired financialassets the effective interest rate is applied to the net carrying amount ofthe financial asset (after deduction of the loss allowance).(m) DividendsProvision is made for the amount of any dividend declared, beingappropriately authorised and no longer at the discretion of the entity, onor before the end of the reporting period but not distributed at the endof the reporting period.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司316NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(n)每股盈利(i)每股基本盈利每股基本盈利按：•本公司拥有人应占溢利（不包括普通股以外的任何服务权益成本）•除以财政年度内发行在外普通股加权平均数计算，并就年内已发行普通股（不包括库存股）的红股因素进行调整。(ii)每股摊薄盈利每股摊薄盈利调整厘定每股基本盈利所用之数字以计及：•与潜在摊薄普通股相关的利息及其他融资成本的除所得税后影响，及•假设所有潜在摊薄普通股获转换后将予发行的额外普通股加权平均数。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(n) Earnings per share(i) Basic earnings per shareBasic earnings per share is calculated by dividing:• the profit attributable to owners of the Company, excludingany costs of servicing equity other than ordinary shares• by the weighted average number of ordinary sharesoutstanding during the financial year, adjusted for bonuselements in ordinary shares issued during the year andexcluding treasury shares.(ii) Diluted earnings per shareDiluted earnings per share adjusts the figures used in thedetermination of basic earnings per share to take into account:• the after income tax effect of interest and other financing costsassociated with dilutive potential ordinary shares, and• the weighted average number of additional ordinary sharesthat would have been outstanding assuming the conversion ofall dilutive potential ordinary shares.
二零二三年年报ANNUAL REPORT 2023317NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(o)业务合并非共同控制下的业务合并使用收购会计法入账，而不论是否已收购权益工具或其他资产。就收购一家附属公司转让的代价包括：•所转让资产的公平值•所收购业务的前拥有人所产生的负债•本集团发行的股权•由或然代价安排产生的任何资产或负债之公平值；及•附属公司任何先前存在股权的公平值于业务合并中收购的可识别资产以及承担的负债及或然负债初步按其于收购日期的公平值计量（少数例外情况除外）。本集团以公平值或非控股权益所占被收购实体的可识别资产净值之适当比例按逐项收购基准确认于被收购实体的任何非控股权益。收购相关成本于产生时支销。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(o) Business combinationsThe acquisition method of accounting is used to account for businesscombinations not under common control, regardless of whether equityinstruments or other assets are acquired. The consideration transferredfor the acquisition of a subsidiary comprises the:• fair values of the assets transferred• liabilities incurred to the former owners of the acquired business• equity interests issued by the Group• fair value of any asset or liability resulting from a contingentconsideration arrangement, and• fair value of any pre-existing equity interest in the subsidiaryIdentifiable assets acquired and liabilities and contingent liabilitiesassumed in a business combination are, with limited exceptions,measured initially at their fair values at the acquisition date. The Grouprecognises any non-controlling interest in the acquired entity onan acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s netidentifiable assets.Acquisition-related costs are expensed as incurred.
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司318NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS综合财务报表附注39其他会计政策概要（续）(o)业务合并（续）于：•所转让代价，•被收购实体的任何非控股权益金额，及•被收购实体的任何先前股权于收购日期的公平值超过所收购可识别资产净值的公平值部分入账列作商誉。倘该等金额低于所收购业务的可识别资产净值的公平值，则差额将直接于损益中确认为议价购买收益。如现金代价任何部分的结算被延期，则未来应付金额将按交换日的现值贴现。所用贴现率为实体的增量借款利率，即可资比较条款及条件下独立融资人可获得类似借贷的利率。或然代价分类为权益或金融负债。分类为金融负债的金额随后按公平值重新计量，公平值变动计入损益。如业务合并分阶段进行，收购方之前在被收购方持有的权益于收购日期的账面值，按收购日期的公平值重新计量。重新计量产生的任何盈亏在损益中确认。39 SUMMARY OF OTHER ACCOUNTING POLICIES(continued)(o) Business combinations(continued)The excess of the:• consideration transferred,• amount of any non-controlling interest in the acquired entity, and• acquisition-date fair value of any previous equity interest in theacquired entityover the fair value of the net identifiable assets acquired is recordedas goodwill. If those amounts are less than the fair value of the netidentifiable assets of the business acquired, the difference is recogniseddirectly in profit or loss as a gain on bargain purchase.Where settlement of any part of cash consideration is deferred, theamounts payable in the future are discounted to their present valueas at the date of exchange. The discount rate used is the entity’sincremental borrowing rate, being the rate at which a similar borrowingcould be obtained from an independent financier under comparableterms and conditions. Contingent consideration is classified either asequity or a financial liability. Amounts classified as a financial liabilityare subsequently remeasured to fair value with changes in fair valuerecognised in profit or loss.If the business combination is achieved in stages, the acquisition datecarrying value of the acquirer’s previously held equity interest in theacquiree is remeasured to fair value at the acquisition date. Any gains orlosses arising from such remeasurement are recognised in profit or loss.
二零二三年年报ANNUAL REPORT 2023319DEFINITION释义“Articles of Association”the articles of association of the Company「组织章程细则」本公司组织章程细则“Audit Committee”the audit committee of the Board「审核委员会」董事会审核委员会“Board”the board of Directors「董事会」董事会“Company”,“we”,“Pop Mart”Pop Mart International Group Limited (泡泡玛特国际集团有限公司), an exempted companyincorporated in the Cayman Islands on 9 May 2019 with limited liability, with its Shares initiallylisted on the Main Board of the Stock Exchange on 11 December 2020 (stock code: 9992)「本公司」、「我们」、「泡泡玛特」泡泡玛特国际集团有限公司，一家于2019年5月9日根据开曼群岛法律注册成立的获豁免有限公司，其股份于2020年12月11日首次在联交所主板上市（股份代号：9992）“Director(s)”the director(s) of the Company「董事」本公司董事“Group”the Company, its subsidiaries and consolidated affiliated entities from time to time「本集团」本公司及其不时的附属公司及综合联属实体“HKD”or“HK$”Hong Kong dollars, the lawful currency of Hong Kong「港元」香港的法定货币港元“Hong Kong”the Hong Kong Special Administrative Region of the People’s Republic of China「香港」中华人民共和国香港特别行政区“Latest Practicable Date”12 April 2024「最后实际可行日期」2024年4月12日“Listing Rules”the Rules Governing the Listing of Securities on the Stock Exchange, as amended from time totime「上市规则」香港联合交易所有限公司证券上市规则（经不时修订）“Mainland China”the People’s Republic of China, and for the purpose of this report, excluding Hong Kong,Macau and Taiwan regions「中国内地」中华人民共和国，就本报告而言，不包括香港、澳门及台湾地区“Memorandum and Articles”the memorandum and articles of association of the Company「大纲及细则」本公司组织章程大纲及细则“Nomination Committee”the nomination committee of the Board「提名委员会」董事会提名委员会“Post-IPO Share Award Scheme”the Post-IPO Share Award Scheme conditionally adopted by the Company on 24 July 2020 andamended on 17 May 2023「首次公开发售后股份奖励计划」本公司于2020年7月24日有条件采纳及于2023年5月17日修订的首次公开发售后股份奖励计划
POP MART INTERNATIONAL GROUP LIMITED泡泡玛特国际集团有限公司320DEFINITION释义“Prospectus”the prospectus of the Company dated 1 December 2020「招股章程」本公司日期为2020年12月1日的招股章程“Remuneration Committee”the remuneration committee of the Board「薪酬委员会」董事会薪酬委员会“Reporting Period”for the year ended 31 December 2023「报告期」截至2023年12月31日止年度“RMB”or“Renminbi”Renminbi, the lawful currency of China「人民币」中国法定货币人民币“Scheme Limit”the limit on grant(s) of share option(s) and/or award(s) over new Shares under all shareschemes of the Company approved by Shareholders「计划限额」根据经股东批准的本公司所有股份计划授出涉及新股份的购股权及╱或奖励的限额“Service Provider Sublimit”a sublimit under the Scheme Limit for share options and/or awards over new shares of theCompany under all share schemes adopted by the Company granted to the Service Providers「服务提供者分项限额」根据本公司采纳的所有股份计划项下涉及本公司新股份的购股权及╱或奖励的计划限额而授予服务提供者的分项限额“SFO”the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as amendedfrom time to time「《证券及期货条例》」香港法例第571章《证券及期货条例》，经不时修订“Share(s)”ordinary share(s) of nominal value of US$0.0001 each in the capital of the Company「股份」本公司股本中每股面值0.0001美元的普通股“Shareholder(s)”shareholder(s) of the Company「股东」本公司股东“Stock Exchange”The Stock Exchange of Hong Kong Limited「联交所」香港联合交易所有限公司“Trustee”Trident Trust Company (HK) Limited, which was appointed as the trustee of the Post-IPO ShareAward Scheme on 24 July 2020「受托人」恒泰信托（香港）有限公司，于2020年7月24日获委任为首次公开发售后股份奖励计划的受托人“USD”or“US$”U.S. dollars, the lawful currency of the United States「美元」美国的法定货币美元“%”percent「%」百分比
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