Pop Mart Q3 Revenue Surges; Results Preliminary

Pop Mart said preliminary, unaudited revenue for the three months to September jumped roughly 245–250% year‑on‑year, with domestic sales up about 185–190% and overseas revenue roughly 365–370%. Overseas gains were led by the Americas (over 1,200%) and Europe (700%+), and online sales in China more than quadrupled. The company attributed momentum to the global popularity of its Labubu dolls, an August mini Labubu launch, its IP‑driven strategy, high‑profile partnerships and an expanded retail footprint including vending machines and stores. Hong Kong shares rose as much as 8% before paring gains and have traded with volatility, while some investors and analysts warned the stock may be overvalued and questioned sustainability. Pop Mart cautioned the figures are preliminary and unaudited and may be adjusted, and critics raised concerns that the blind‑box model can encourage compulsive buying.