On June 25, Pop Mart fell 3.1% in regular trading, trading at 153.4 HKD/share, with turnover of 683 million HKD. The stock has declined from 166 HKD a week earlier, extending a sustained downtrend.

On the news front, Deutsche Bank previously issued a Sell rating on Pop Mart with a target price of 140 HKD. The bank noted that the company's May China online sales declined 5% year-over-year and dropped 14% month-over-month, marking the first negative growth in nearly two years. May performance was approximately 25% below the average monthly sales in the second half of last year. Deutsche Bank expects both domestic and overseas markets to enter a more pronounced downturn cycle in the second half of the year, driven by high base effects and waning IP popularity.

Additionally, secondary market prices for the Labubu series have continued to retreat, with certain hidden editions falling from a peak of over 4,500 RMB to approximately 600 RMB, reinforcing concerns over IP aesthetic fatigue and over-reliance on a single blockbuster franchise.

(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.)