On August 21, POP MART fell 8.78% in regular trading, trading at 143.0 HKD/share, with turnover of HKD 1.454 billion.

On the news front, POP MART released its interim results on August 20, reporting H1 revenue of RMB 17.173 billion, up 23.8% year-over-year but well below market expectations of approximately RMB 19.98 billion. Adjusted net profit came in at RMB 5.16 billion, up only 9.5% YoY, significantly missing the consensus estimate of RMB 6.67 billion. Overseas revenue fell 11.1% YoY to RMB 4.972 billion, with the Americas declining 16.5% and Asia-Pacific dropping 9.7%. Core IP LABUBU showed its first signs of year-over-year decline since going viral.

Founder Wang Ning stated during the earnings call that the company will likely fail to achieve its full-year 20% growth target, defining this year as an adjustment year due to internal management issues exposed by rapid prior growth. To support the share price, POP MART announced a buyback plan of RMB 2-5 billion over the next six months. The board did not recommend an interim dividend.

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