On June 29, Pop Mart fell 3.22% in regular trading, trading at 155.2 HKD/share, with turnover of 428 million HKD.

On the news front, the companys flagship IP LABUBU Retro Barber Shop series, launched on June 25, saw multiple regular models rapidly fall below the 159 yuan issue price. Certain models dropped to around 100 yuan within 30 minutes of release, representing a decline exceeding 30% — a sharp contrast to the previous strong premium pricing seen across LABUBU launches. Meanwhile, secondary market prices for LABUBU collectibles continue to retreat, with some hidden edition figures falling from peak levels above 4,500 yuan to approximately 600 yuan, fueling concerns over IP aesthetic fatigue and over-reliance on a single blockbuster franchise.

Adding to the bearish sentiment, Deutsche Bank maintains a sell rating on the stock with a target price of 140 HKD, citing that May China online sales declined 5% year-over-year and 14% month-over-month — the first negative growth recorded in nearly two years. The bank projects that both domestic and overseas markets will enter a more pronounced downcycle in the second half of the year.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)