Labubu maker Pop Mart saw its shares fall over 4% in Hong Kong on Friday after reporting first-half results. Revenue rose 23.8% year-over-year to 17.17 billion yuan ($2.55 billion), driven by a 47.3% jump in China. However, sales declined 9.7% in Asia Pacific ex-China and dropped 16.5% in the Americas, with overseas revenue plummeting 11% year-over-year. Citi said results came below expectations and cut its price target to HK$198, now forecasting an 8% year-over-year decline in group revenue in 2026. The shares were recently down 3.9% to HK$147.70.
Source: Read the original article
