Pop Mart hits near five-month low on results miss

Pop Mart International

21/08/2026 03:58

** Shares of Pop Mart 9992.HK drop 8.8% to HK$140.1, their lowest level since March 30, and on course to snap two straight sessions of gains
** Stock on track for biggest one-day pct decline since March 26 
** The Beijing-based maker of collectible "blind box" toys including the toothy-grinned Labubu said H1 revenue rose 24% y/y and net income attributable up 10%
** Pop toy maker also announces plan to buy back shares for up to 5 billion yuan ($743.74 million) over next six months
** Citi lowers target price to HK$198 from HK$263, keeps "buy" rating
** Says 1H26 results came below expectations on overseas pressure while China largely in line 
** Trims earnings forecasts amid soft overseas momentum and margin pressure
** Nomura downgrades to "neutral" from "buy" and cuts target price to HK$164 from HK$252 on lack of short-term growth catalysts 
** YTD, stock down 20.5%, while Hang Seng Index .HSI up 1%

($1 = 6.7228 Chinese yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))