Seeing the $POP MART(09992.HK) discussion forum so lively, I can't help but say a few words:

Just now, an article in People's Daily mentioned the regulation of blind box products, causing Pop Mart to open 6% lower today, with a cumulative drop of over 17% from its peak. It seems like the hype is fading, and some even say "official cooling," but I think this decline might be the start of a mid-term reversal. Why?

People's Daily did not name Pop Mart specifically but commented on the entire blind box market. The regulation is more about controlling youth consumption rather than rejecting pop culture itself. The policy risk has been priced in, and there may not be another round of crackdowns. The key point!! Just a few days ago, Xinhua News Agency published a significant article calling LABUBU a "top-tier Chinese creation," representing the emotional outlet of young people and reshaping the world's perception of Chinese cultural brands. This tone actually affirms Pop Mart's long-term value.

Pop culture consumption is about IP value and cultural resonance. Pop Mart has successfully incubated IPs like LABUBU and SKULLPANDA in recent years and is expanding its brand internationally. Short-term volatility is an emotional reaction; the long-term story isn't over yet.

As for market trends, stock 9992 has seen buying interest from the low of HK$233, and the intraday decline has eased. In the short term, it may consolidate between HK$230 and HK$250. As long as it doesn't fall below HK$230, another rebound wouldn't be surprising. @安德森 @Shivv