- Pop Mart's stock is plummeting after it revealed that most of its sales come from Labubu
Apr 2, 2026 · businessinsider.com
Pop Mart's stock dropped 30% after it reported 2025 earnings. It reported that sales from "The Monsters" IP — or Labubu — accounted for about 40% of its total revenue.
- Pop Mart's Big Bet: From Toys to Theme Parks and Movies
Mar 27, 2026 · youtube.com
Pop Mart is going beyond collectibles - into theme parks, films and immersive experiences. The company's COO explains why building emotional connections through storytelling and real-world experiences is key to long-term growth, as it takes inspiration from Disney to turn its characters into global franchises.
- Inside Pop Mart's IP Machine
Mar 27, 2026 · youtube.com
Pop Mart may be known for viral hits, but its real strategy is built for the long term. The company's COO explains why creating lasting IP isn't about chasing the next trend, but continuous investment, taking a page from Disney's playbook.
- What Comes After Labubu? Pop Mart COO Addresses Investor Pressure
Mar 27, 2026 · youtube.com
Pop Mart's global breakout came with Labubu but can it create the next hit? In this exclusive, the COO breaks down how the company evolved from a retail concept into a global IP powerhouse, what drove Labubu's explosive success, and how Pop Mart is expanding beyond toys.
- Pop Mart Slides 9.7% as Analysts Cut Forecasts After Growth Miss
Mar 26, 2026
This article first appeared on GuruFocus.
Pop Mart International Group (PMRTY) shares came under renewed pressure in early Hong Kong trading, falling as much as 9.7% to around HK$152 after a sharp 23% drop in the prior session, as analysts moved to reassess expectations following the company's latest results. While headline figures remained strong, revenue rose 185% to 37.1 billion yuan in 2025, slightly below the 38 billion yuan consensus, and net income climbed 309% to 12.8 billion yuan, modestly ahead of the 12.6 billion yuan forecast. The market reaction appears tied less to reported growth and more to signs of slowing momentum into the second half, particularly a sharper fourth-quarter deceleration that could raise questions about how durable recent growth trends may be.
Warning! GuruFocus has detected 1 Warning Sign with PMRTY. Is PMRTY fairly valued? Test your thesis with our free DCF calculator.
Analysts have started to adjust their models accordingly, with Bernstein highlighting potential downside to fiscal 2026 expectations, pointing to moderating growth, high intellectual property concentration, and what it described as speculative capital deployment. Morgan Stanley reduced its 20262027 earnings estimates by 4%, while UBS cut its price target by 15% to HK$278. There are also signals of a more cautious capital return profile, with the dividend payout ratio lowered to 25% in 2025 from 35% in 2024, which some investors could interpret as a shift in priorities as the company navigates a potentially more normalized growth phase.
The core of the investment debate remains centered on Labubu, which continues to anchor performance after generating 14.2 billion yuan in revenue in 2025, exceeding expectations and accounting for roughly 40% of total sales, up from 23% the prior year. Other franchises have delivered mixed results, with Skullpanda outperforming at 3.5 billion yuan, while figures such as Molly and Crybaby trailed expectations, highlighting the challenge of broadening the portfolio. Management has emphasized efforts to diversify through new characters like Twinkle Twinkle while continuing to scale internationally, particularly in the Americas where revenue rose 748% to 6.8 billion yuan following the addition of 42 stores. Still, with resale premiums narrowing and supply expanding after Labubu's viral surge in 2025, the key question for investors is whether Pop Mart can evolve into a more balanced intellectual property platform, with management guiding for at least 20% sales growth in 2026.
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- Pop Mart Drops 22% Despite 185% Revenue Growth on Labubu Reliance Concerns
Mar 25, 2026
This article first appeared on GuruFocus.
Pop Mart (PMRTY) delivered another year of outsized growth, but investor reaction suggests confidence may be starting to wobble around what comes next. Shares fell nearly 22% after the company reported 2025 revenue of 37.1 billion yuan, rising 185% but slightly missing the 38 billion yuan consensus, while net income climbed 309% to 12.8 billion yuan, coming in just ahead of expectations. The headline numbers remained strong, yet the underlying trend pointed to softer momentum in the second half, with a sharper fourth-quarter slowdown that could be raising concerns about how sustainable recent growth levels may be.
Warning! GuruFocus has detected 1 Warning Sign with PMRTY. Is PMRTY fairly valued? Test your thesis with our free DCF calculator.
Much of that concern appears tied to the company's reliance on Labubu, which continues to dominate performance. The Labubu-led Monsters series generated 14.2 billion yuan in revenue, beating estimates of 12.5 billion yuan and accounting for about 40% of total sales, up from 23% the year before. Other franchises delivered a more uneven showing, with Skullpanda exceeding expectations at 3.5 billion yuan, while Crybaby and Molly came in below forecasts, including Molly's 2.9 billion yuan result versus a 4.6 billion yuan consensus. Management has been signaling efforts to broaden its intellectual property base, highlighting newer characters such as Twinkle Twinkle, though current results suggest the business still leans heavily on Labubu as its primary growth engine.
Looking ahead, the company is guiding for at least 20% sales growth in 2026, though the setup could be shifting toward a more normalized phase after the surge in 2025. The Labubu-driven boom, which helped expand Pop Mart's presence globally, including into the US, has shown signs of cooling as supply increased and counterfeit products spread, narrowing resale premiums. At the same time, the Americas has become a key growth driver, with 42 stores added and revenue rising 748% to 6.8 billion yuan, representing 18.3% of total sales. The company is continuing to push both geographic expansion and new content initiatives, including a planned Labubu movie with Sony Pictures Entertainment, as it works to sustain momentum and evolve into a broader intellectual property platform.
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- Pop Mart shares plunge over 22% as concerns over sustainability of Labubu sales dwarf stellar results
Mar 25, 2026 · cnbc.com
Shares of Pop Mart International Group fell over 22%. The blockbuster full-year results failed to calm investors concerns over whether the Labubu-driven growth can be sustained.
- What comes after Labubu? Inside Pop Mart's next grow play
Mar 25, 2026 · cnbc.com
Pop Mart's Chief Operating Officer, Si De, spoke to CNBC in a wide-ranging interview about the disciplined strategy behind the Labubu craze and the company's next growth bets. There's no crystal ball on the next breakout after Labubu — but Pop Mart is highly selective about the artists it backs and closely tracks sales data to shape products.
- Labubu Maker's Earnings Show It's Not Toying Around
Mar 25, 2026 · wsj.com
Pop Mart has managed to defy the doubters, with profit quadrupling and revenue nearly tripling last year.
- Pop Mart, Laopu Set for Triple-Digit Growth as China Consumption Slows
Mar 20, 2026
This article first appeared on GuruFocus.
China's consumer divide is becoming harder to ignore. Pop Mart (PMRTY) and Laopu Gold (LPGCY) are both expected to deliver triple-digit growth, standing out in a market where domestic spending has had one of its weakest starts outside the pandemic. That momentum has been driven by viral demand from Labubu dolls to ancient-style gold jewelry amplified by online influencers, though that initial surge now appears to be cooling. The key question for investors is whether this level of growth can be sustained, even as Pop Mart shifts toward new characters like Twinkle Twinkle and Skullpanda, and Laopu continues to benefit from gold-linked demand that could again outpace broader consumption into 2026, according to Bloomberg Intelligence.
Warning! GuruFocus has detected 1 Warning Sign with PMRTY. Is PMRTY fairly valued? Test your thesis with our free DCF calculator.
Elsewhere, the broader consumer and tech landscape looks more mixed. Xiaomi (XIACY) is expected to post its slowest revenue growth since 2023, as AI-driven chip shortages pressure its smartphone business, even as its EV segment could deliver strong sequential gains. Haidilao (HDALF) is back in focus following founder Zhang Yong's return as CEO, though its core strategy may remain largely unchanged. Anta Sports (ANPDF) may begin to reflect losses tied to its stake in Puma, while Meituan (3690 HK) continues to face intense competition in food delivery, with ongoing losses and a deeper push into AI and overseas markets such as Brazil.
In energy and autos, uncertainty is building. China Petroleum & Chemical Corp., or Sinopec (SENGF), has been instructed to suspend fuel exports as Middle East tensions disrupt crude shipments, even as a government-approved restructuring could strengthen parts of its business. Cnooc (CEO) is expected to report lower profits on softer crude prices, though gas production may benefit from China's energy transition. BYD (BYDDF) is also facing pressure, with quarterly profit expected to fall by about a third on weaker shipments and further downside possibly extending into early 2026, even as exports gain traction. One notable exception is Innovent Biologics (IVBXF), which is poised to report its first annual profit following domestic approval of its weight-loss drug, positioning it as a local challenger to global peers.
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