On June 12, Pop Mart (09992.HK) rose 3.03% in regular trading, trading at HK$183.9/share, with turnover of HK$1.749 billion, marking the third consecutive session of gains.

On the news front, multiple catalysts continue to drive sentiment. LABUBU is set to appear at the FIFA World Cup, with a co-branded product series already on sale featuring plush dolls, blind boxes, and accessories. Meanwhile, Great Wall Securities recently initiated coverage with a Buy rating, citing strong IP incubation capabilities and overseas growth potential. Renowned investor Duan Yongping has raised his stake to 6.04%, with cumulative investment exceeding HK$2.2 billion across two rounds of purchases.

Additionally, the company disclosed that non-Labubu products accounted for approximately 50% of total US market revenue, signaling successful diversification beyond its flagship IP. Pop Mart is expanding characters including Skullpanda and Hirono, while collaborating with Sony Pictures on a Labubu film expected in 2028. The company previously reported full-year revenue of RMB 37.12 billion, up 184.7% year-over-year, with adjusted net profit of RMB 13.084 billion, up 284.5%.

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