---
title: "POP MART's Starry People, Crybaby, and others have sparked a new craze, with Hirono's hidden styles soaring nearly 6 times"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/270943461.md"
description: "Under POP MART, the IPs Starry People, Crybaby, and Hirono have sparked a new wave of excitement through collaborations, special exhibitions, and new product launches, driving the company's stock price up nearly 4% this morning. The collaboration series between Starry People and HEYTEA has triggered a buying frenzy, the Crybaby special exhibition in Shanghai is fully booked, and the hidden version blind boxes of Hirono are priced at nearly 6 times the original. Although the revenue from the Labubu series has grown significantly, its popularity is gradually declining"
datetime: "2025-12-29T02:45:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/270943461.md)
  - [en](https://longbridge.com/en/news/270943461.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/270943461.md)
---

# POP MART's Starry People, Crybaby, and others have sparked a new craze, with Hirono's hidden styles soaring nearly 6 times

POP MART (9992) subsidiary top IP "Labubu" is gradually losing popularity, but multiple IPs such as Starry People, Crybaby, and Hirono are starting to generate online buzz again through collaborations, special exhibitions, and new product launches. The stock rose nearly 4% this morning, reaching a high of HKD 208; currently reported at HKD 204.4, continuing to rise over 2%.

## Starry People and HEYTEA Collaboration Series Sold Out

According to domestic media reports, the tea brand HEYTEA's collaboration with Starry People launched last week in several stores, and the series sparked a buying frenzy as soon as it went on sale, with related merchandise on second-hand trading platforms being sold at high prices. In addition, the Crybaby special exhibition in Shanghai opened earlier (on the 20th) at the West Bund Dream Center · DreamWorks, featuring three classic IP images: Crybaby, Crybunny, and Cryteddy. Reports indicate that most time slots for the exhibition are currently "fully booked."

As for another IP under its umbrella, "Hirono" (Xiao Ye), it released its first plush keychain blind box "Road Journal," which includes 6 regular versions and 1 hidden version. This series also sold out in seconds on the Dewu trendy toy platform earlier (on the 18th). According to data from the Dewu App, the highest transaction price for the hidden version "Road Imprint" rose from RMB 129 to over RMB 800, a nearly 6-fold premium.

On the other hand, Labubu, as this year's top IP, has seen its series THE MONSTERS become a major revenue driver for the company. As of the first half of this year, the series generated RMB 4.81 billion, accounting for 34.7% of total revenue, with a year-on-year growth of 668%. However, as Labubu's production capacity expands, its momentum is gradually declining

### Related Stocks

- [09992.HK](https://longbridge.com/en/quote/09992.HK.md)
- [HEYTEA.NA](https://longbridge.com/en/quote/HEYTEA.NA.md)

## Related News & Research

- [Pop Mart expands IP empire with debut dessert store in Hebei province](https://longbridge.com/en/news/286178772.md)
- [China's Pop Mart warns of 2026 profit margin pressure from higher costs](https://longbridge.com/en/news/286185719.md)
- [Pop Mart Declares Final 2025 Dividend and Sets HKD Payout Terms](https://longbridge.com/en/news/286254762.md)
- [Pop Mart’s Labubu Fridge Resale Price Soars as Pre-Orders Outstrip Supply 19 Times](https://longbridge.com/en/news/284533698.md)
- [Assessing International Paper (IP) Shares After A Steep Pullback And Undervaluation Debate](https://longbridge.com/en/news/286679803.md)