On March 25, Pop Mart International Group Limited saw its stock price drop sharply by over 10% during afternoon trading in the Hong Kong market, falling to HK$193.2. The decline followed the release of the company's 2025 financial report. During the reporting period, the company achieved approximately 371.2 billion yuan in revenue, representing a year-on-year increase of 184.7%. Adjusted net profit reached around 130.8 billion yuan, up 284.5% compared to the previous year. The LABUBU product line surpassed 10 billion yuan in revenue for the first time, while six intellectual properties each generated over 2 billion yuan in revenue, and 17 IPs exceeded 1 billion yuan in sales.