Outsource the production of Pop Mart's small home appliances? New Bao Corporation's response: Please refer to the information provided by our customers for the launch of products to the market.

On March 25, Bubble Mart held its 2025 annual performance release conference. During the performance conference, Bubble Mart executives revealed that home appliance products will officially meet everyone next month. It has been reported by the media that the core contract manufacturer of small home appliances for Bubble Mart is Xinbao Group. It is understood that the cooperation between the two parties is mainly based on the OEM production model. Currently, the product categories include electric kettles, coffee machines, electric toothbrushes, hair dryers, and other products, and they have now entered the large-scale stocking phase. The target market plan is domestic first and then overseas. In response to this, Sina Finance called Xinbao Group's investor relations hotline as an investor. A staff member stated that the company's domestic business is mainly focused on selling its own brand, with a large number of ODM and OEM business customers and a relatively small sales proportion from individual customers. The collaboration information between the company and its customers is subject to product launch in the market, so please be aware of investment risks.