Latest news with #PopMartInternationalGroupLtd
BusinessToday
9 hours ago
- Business
- BusinessToday
Pop Mart Shares Slump After Beijing Called For Stricter Guidelines On 'Mystery Boxes'
Bamboo Works Shares of Pop Mart International Group Ltd extended their decline on June 20, hit by renewed regulatory concerns after China's top state newspaper called for tighter rules on the booming 'blind box' industry, Bloomberg reported. The Hong Kong-listed toy company dropped as much as 6.2% in morning trade, following a 5.3% fall on June 19. Shares of Bloks Group Ltd, another player in the surprise-toy segment, tumbled up to 7.1%. The sell-off came after People's Daily , the official mouthpiece of the Chinese Communist Party, published a commentary urging regulators to 'refine and strengthen' oversight of blind box and blind card sales. The piece warned that the business model may encourage impulsive spending, especially among minors, and called for measures to curb potential addiction risks. Blind boxes, sealed packages containing unknown collectable items, have exploded in popularity across China, particularly among younger consumers. Pop Mart, one of the sector's leading names, has built a multimillion-dollar business on the back of the trend, fuelled by limited-edition releases and a strong retail presence. But the rising scrutiny signals a shifting regulatory landscape. Beijing has increasingly cracked down on business practices seen as exploitative or harmful to social well-being, particularly those that could affect children. Pop Mart has yet to comment on the report. The company's next earnings announcement is expected later this quarter. Related
Mint
10 hours ago
- Business
- Mint
China Warning on Blind-Box Toys Sends Pop Mart Shares Tumbling
Pop Mart International Group Ltd. shares slid in Hong Kong after a Chinese state media commentary called for stricter regulation of businesses offering 'blind cards' and 'mystery boxes.' Shares of the Beijing-based toymaker dropped as much as 6.2%, after tumbling 5.3% on Thursday. Shares in Bloks Group Ltd., which sells similar products, fell as much as 7.1%. China should further refine regulations for 'blind cards' and 'mystery boxes' as some of the current business models easily induce minors to become addicted to purchasing these products, according to a feature story carried on the 19th page of the People's Daily, the flagship newspaper of the Chinese Communist Party, citing legal experts. 'The commentary has weighed on investor sentiment, flashing some overheating signs in its business,' said Steven Leung, an executive director at UOB Kay Hian Hong Kong Ltd. 'Still, it's a mild reminder as it didn't come directly from a government official.' Even with the slump this week, Pop Mart has still gained about 170% this year, making it the best performer in the MSCI China Index, as consumer fervor for its toys has turned it into one of the hottest Chinese growth companies. Wall Street analysts have been increasing their price targets for the company, citing the growing influence of its intellectual properties. In China, the government prohibits sales of blind boxes to children under the age of eight due to concern over potential addiction. Before the authorities imposed such guidelines in 2023, regulatory risk was a key concern among investors. This article was generated from an automated news agency feed without modifications to text.
Yahoo
13-06-2025
- Business
- Yahoo
Pop Mart's 200% Stock Rally Spurs Rush to Hike Price Targets
(Bloomberg) -- Wall Street analysts are rushing to raise price targets on Pop Mart International Group Ltd. following the success of its Labubu dolls. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? NY Long Island Rail Service Resumes After Grand Central Fire At least five brokerages, including Deutsche Bank AG and Morgan Stanley, have lifted projections on the Hong Kong-listed stock this week. Citigroup Inc. hiked its price target by 90% to a street high of HK$308 apiece, citing the growing influence of the company's intellectual properties globally. Pop Mart shares rose as much as 3.5% on Friday, extending their year-to-date climb to around 200%, before erasing those gains midday. Earlier this week, the stock touched a fresh record high. The growing popularity of Pop Mart's toothy monster dolls is boosting sales prospects for the firm. THE MONSTERS blind-box series, with Labubu at its center, generated more than 3 billion yuan in sales for Pop Mart last year, accounting for almost one-fourth of the company's revenue. Read: Tepid Flows Into China Gen Z ETFs Hint at Upside: Taking Stock Pop Mart is trading above the 12-month average analyst price target tracked by Bloomberg and the rally has pushed shares to overbought territory. While valuations at 45 times forward earnings have topped that for peers like Sanrio Co. and Walt Disney Co., some analysts are optimistic that shares can continue to rise after tripling so far this year. The stock is the best performer on the MSCI China Index this year after making it among the biggest gainers on the gauge in 2024. (Updates share move in third paragraph) American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software New Grads Join Worst Entry-Level Job Market in Years US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom As Companies Abandon Climate Pledges, Is There a Silver Lining? ©2025 Bloomberg L.P. Sign in to access your portfolio
Malaysian Reserve
13-06-2025
- Business
- Malaysian Reserve
Pop Mart's 200% stock rally spurs rush to hike price targets
WALL Street analysts are rushing to raise price targets on Pop Mart International Group Ltd. following the success of its Labubu dolls. At least five brokerages, including Deutsche Bank AG and Morgan Stanley, have lifted projections on the Hong Kong-listed stock this week. Citigroup Inc. hiked its price target by 90% to a street high of HK$308 apiece, citing the growing influence of the company's intellectual properties globally. Pop Mart shares rose as much as 3.5% on Friday, extending their year-to-date climb to around 200%, before erasing those gains midday. Earlier this week, the stock touched a fresh record high. The growing popularity of Pop Mart's toothy monster dolls is boosting sales prospects for the firm. THE MONSTERS blind-box series, with Labubu at its center, generated more than 3 billion yuan in sales for Pop Mart last year, accounting for almost one-fourth of the company's revenue. Pop Mart is trading above the 12-month average analyst price target tracked by Bloomberg and the rally has pushed shares to overbought territory. While valuations at 45 times forward earnings have topped that for peers like Sanrio Co. and Walt Disney Co., some analysts are optimistic that shares can continue to rise after tripling so far this year. The stock is the best performer on the MSCI China Index this year after making it among the biggest gainers on the gauge in 2024. –BLOOMBERG
Bloomberg
26-03-2025
- Business
- Bloomberg
Pop Mart Profit More Than Doubles Driven by Labubu-Doll Craze
Pop Mart International Group Ltd. said it will continue to expand its global footprint with focus on North America and Europe, after reporting its profit more than doubled last year thanks to the popularity of its patented products. 'By developing physical stores in globally iconic locations, we aim to enhance brand experience and recognition,' according to an exchange filing. It will also look at strengthening cooperation with artists and brands to promote the 'cross-boundary integration of pop culture,' the maker of Labubu dolls said.
