China’s Pop Mart gains on earnings hopes as investors eye growth beyond Labubu
The toymaker’s stock gains as user growth, livestream sales and overseas expansion signal resilience despite softer consumer demand in China
Pop Mart’s shares climbed on Monday after the Chinese toymaker highlighted strong operating momentum at its annual gathering, reinforcing investor confidence ahead of earnings.
The company’s Hong Kong-listed stock rose 8.6 per cent to HK$264.20 in afternoon trading before edging down to close 5.8 per cent up at HK$257.20. Shares are now up more than 37 per cent year to date, though still about 24 per cent below their August peak of HK$339.80.
Founder Wang Ning said at the company’s annual party on Friday that registered users had surpassed 100 million globally by the end of 2025.
Sales of Labubu, the group’s flagship intellectual property (IP), exceeded 100 million units last year, while total sales across all IPs topped 400 million units. Pop Mart also operated more than 700 stores worldwide.
“In a time of profound change for humanity, the pursuit of beauty and design is more important than ever,” Wang told staff at the event. “We should take on a greater role – offering spiritual comfort to our times and helping more people find meaning in life.”
Founded in Beijing in 2010, Pop Mart has come to embody what many describe as “emotional value” – the idea that consumers are buying comfort, identity and small moments of joy, not just toys – a trend that has gained traction among younger buyers facing uncertain job prospects and intense competition.
The brand has also drawn endorsements from international celebrities, including K-pop star Lisa of Blackpink and former England footballer David Beckham.