Labubu Maker's Revenue Momentum Slows After Explosive Growth

Impact · against what's priced in

Pop Mart faces significant downward pressure as growth decelerates and the company fails to launch a new hit character. This combination increases execution risk and suggests a valuation derating for the high-growth consumer discretionary business.

9992.HK−0.60

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In context

Growth decelerated sharply in H1 2026 and the company is struggling to find its next blockbuster character, creating a high reliance on hit-driven IP.

Read from the article alone

• retail
• 9992.HK
• china
• consumer goods
• growth slowdown
• pop mart
• toys

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