Pop Mart’s Shares Drop as Bernstein Warns Results May Disappoint

Concerns over the outlook as well as profit-taking have led to the unraveling a rally that made the toymaker’s stock the hottest trade in China’s consumer sector. — Concerns over the outlook as well as profit-taking have led to the unraveling a rally that made the toymaker’s stock the hottest trade in China’s consumer sector.
Photographer: Na Bian/Bloomberg

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By Charlotte Yang

November 12, 2025 at 4:26 AM UTC

Shares of Pop Mart International Group Ltd. slipped in Hong Kong after analysts at Bernstein warned that the Labubu-maker’s fourth-quarter results could be a disappointment.

The stock slid as much as 3.7%, making it the second-worst performer on the Hang Seng China Enterprises Index on Wednesday. The gauge was up 0.6% at the mid-day break.