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Pop Mart's American Depositary Shares (ADS) to go ex-dividend on May 18, 2026

Pop Mart Participates in the First China New Cultural and Creative Market and Tide Play Fair

Pop Mart Plans to Launch Two New LABUBU Products in the Second Half of 2026

SPD International Maintains "Buy" Rating on Pop Mart with a Target Price of HK$253.2

CICC Cuts Pop Mart Target Price to 218, Maintains Outperform Rating

Zhongtai Securities releases a research report, analyzing POP MART's Q1 business and reiterating a "Buy" rating

Pop Mart's IP LABUBU plans to appear at the World Cup event in June 2026

Pop Mart's IP LABUBU is scheduled to participate in the 100th Macy's Thanksgiving Day Parade at the end of 2026

CITIC Securities Maintains "Buy" Rating on Pop Mart, Citing Diversified Development of its IP Ecosystem

CLSA Maintains 'Outperform' Rating on Pop Mart with Target Price Cut to HKD 206

Morgan Stanley Maintains Overweight Rating for 泡泡玛特 Despite Weak Performance in Thailand

China Merchants Securities International Reiterates Sell Rating on Pop Mart

Citi Cuts Popping Mart Target Price to 263 HKD

Pop Mart's Beijing City Park (POP LAND) Phase 1.5 to Fully Open

Pop Mart Founder Reveals Shanghai as Top Choice for Second Theme Park

Phillip Securities downgrades Pop Mart from 'Buy' to 'Neutral'

Pop Mart Plans to Expand Online Blind Box Vending Machine Model to Overseas Markets

Pop Mart Establishes New Trading Company in Tianjin

Pop Mart Holds Q1 2026 Business Update Conference Call and Annual General Meeting

Bernstein Analyzes Pop Mart's Q1 Earnings and Maintains Underperform Rating

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CICC has lowered its target price for POP MARTby 12% to HKD218 while maintaining an Outperform rating. The broker revised its 2026 and 2027 net profit forecasts down by 14% and 13%, respectively, due to ongoing operational adjustments. Despite this, POP MART's 1Q26 revenue is expected to grow 75% to 80% YoY, driven by strong product launches and capacity expansion, with China revenue projected to increase 100% to 105% YoY.

- CICC reported that POP MART (09992.HK) anticipates a 75% to 80% year-over-year revenue growth for Q1 2026, with China revenue expected to rise 100% to 105%.  
- The growth is attributed to successful new product launches and capacity expansions, although adjusted net profit forecasts for 2026 and 2027 were reduced by 14% and 13%, respectively.  
- CICC lowered its target price by 12% to HKD 218 while maintaining an Outperform rating based on adjusted P/E ratios of 20.9x and 17.6x for 2026 and 2027.

AASTOCKS News

POP MART

CICC

POP MART HK SDR 20to1

CICC Cuts POP MART  TP to HKD218 and Lowers Earnings Forecasts, Maintains Outperform Rating

BOCOM International has cut its target price for POP MARTto HKD218.9 and lowered its earnings forecasts for 2026-2028 due to rising raw material and transportation costs, as well as slower overseas growth. Despite a strong 75-80% YoY revenue increase in Q1, with the China market growing 100-105% YoY, the broker anticipates a decline in gross margin by 1-2 percentage points in 2026. The Buy rating remains, citing ongoing core growth drivers and a relatively high margin of safety with a 2026 P/E ratio of approximately 14x.

- BOCOM International's report on POP MART (09992.HK) indicates a strong 75-80% revenue growth in 1QYY, driven mainly by a 100-105% surge in the China market, although overseas growth slowed.  
- Due to rising costs and anticipated slower overseas performance, earnings forecasts for 2026-2028 were reduced, and the target price lowered to HKD218.9, maintaining a Buy rating.  
- Management expects a slight gross margin decline in 2026, but aims to mitigate cost pressures through supply chain optimization and expense control.

BOCOM INTL

BOCOM International Cuts POP MART  TP to HKD218.9, Lowers Earnings Forecasts

Morgan Stanley reported that POP MARTmissed expectations for APAC sales in 1Q26, with Thailand facing significant year-over-year pressure. The firm attributes this weakness to reduced demand from speculators, slower tourist activity, and already high per capita sales in Thailand. Despite this, Morgan Stanley maintains an Overweight rating on POP MART with a target price of HKD247, indicating that share price will depend on high-frequency data in the coming weeks.

- Morgan Stanley reported that POP MART (09992.HK) saw APAC sales in 1Q26 fall short of expectations, drawing investor attention.  
- Thailand, a significant market for POP MART, is experiencing year-on-year pressure due to lower demand from speculators, reduced tourist activity, and already high per capita sales compared to mainland China.  
- Despite these challenges, Morgan Stanley maintained an Overweight rating on POP MART with a target price of HKD 247.

Morgan Stanley

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M Stanley: POP MART  1Q26 APAC Sales Miss; Share Price to Hinge on High-frequency Data in Coming Weeks

Huatai Securities has reaffirmed its Buy rating for Pop Mart International Group Limited (735), setting a price target of HK$237.00, while the stock closed at HK$160.90. The overall analyst consensus is a Strong Buy with an average price target of €26.09, indicating a potential downside of -83.78%. Additionally, DBS also maintains a Buy rating with a price target of HK$247.00.

- Huatai Securities analysts maintained a buy rating for Pop Mart International Group Limited, setting a target price of HKD 237.00, while the stock closed at HKD 160.90 yesterday.  
- The market consensus rating for Pop Mart is a strong buy, with an average target price of EUR 26.09, indicating an 83.78% downside from current levels.  
- Additionally, DBS reiterated a buy rating for the stock, with a target price of HKD 247.00 in a report released today.

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Huatai Securities Co., Ltd. GDR Class A RegS

Huatai Securities Sticks to Its Buy Rating for Pop Mart International Group Limited (735)

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China Merchants Securities International (CMSI) has reiterated its Underweight rating on POP MART, citing concerns over profit margins and growth prospects. The company's first-quarter results met lowered expectations, but full-year margins are expected to decline due to rising raw material costs and unfavorable changes in the sales mix. CMSI noted that POP MART lacks a blockbuster IP following the LABUBU craze, with limited contributions from other business segments. The report suggests that the current share price does not fully reflect the anticipated slowdown in growth.

- China Merchants Securities International (CMSI) reported that POP MART's first-quarter results met lowered expectations, with full-year profit margins under pressure due to rising raw material costs and higher expenses.  
- The company plans to enhance its capabilities in overseas markets while facing challenges from fluctuations in international costs and a changing sales mix.  
- CMSI maintained an Underweight rating on POP MART, citing a lack of new growth drivers and limited contributions from other business segments, while the current share price does not reflect slower growth prospects.

CMSC

CMSI Reiterates Underweight on POP MART ; Lacks Blockbuster IP After LABUBU Craze

POP MARTshares fell over 2% after Citi and CLSA downgraded their price targets due to concerns over slowing growth and margin pressures. Citi cut its target from HKD350 to HKD263, forecasting a 10% revenue growth for 2026, below the company's target. CLSA lowered its target from HKD303 to HKD206, projecting a decline in gross and net profit margins. Both brokers remain optimistic about POP MART's long-term growth potential, citing its strong IP operations despite short-term challenges.

- POP MART (09992.HK) opened flat but declined to HKD156.9, with a short selling ratio of 22.57%.  
- Citi lowered its earnings forecasts by 16% to 19% for 2026-2028 due to overseas revenue declines and operational costs, projecting a full-year 2026 revenue growth of 10% YoY.  
- CLSA anticipates continued margin pressure and cut its target price from HKD303 to HKD206, projecting overall sales growth of 12% in FY2026, while highlighting long-term growth potential from POP MART's IP platform.

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

POP MART Sags 2%+ as Citi and CLSA Cut TPs

Pop Mart International Group Limited has declared a final ordinary cash dividend of RMB 2.3817 per share for the financial year ending 31 December 2025, approved by shareholders on 13 May 2026. The payout will be in Hong Kong dollars at HKD 2.7248 per share, with the stock trading ex-dividend on 15 May 2026. The record date is set for 22 May 2026, and payment is scheduled for 28 May 2026. The company, known for designer toys and collectibles, has a current market cap of HK$216B and an analyst rating of Buy with a price target of HK$247.00.

- Pop Mart International Group Limited declared a final ordinary cash dividend of RMB 2.3817 per share for the financial year ended December 31, 2025.  
- The payout will be made in Hong Kong dollars, with shares trading ex-dividend on May 15, 2026, and payment scheduled for May 28, 2026.  
- The company operates in the consumer and entertainment sector, targeting trend-focused consumers and maintaining a market cap of HK$216 billion.

Pop Mart Declares Final 2025 Dividend and Sets HKD Payout Terms

Pop Mart International Group's shares fell 1.2% to HKD160.90 despite reporting Q1 revenue growth of 75-80% year-on-year, driven by a 100-105% surge in the Chinese market. Concerns over the waning popularity of its Labubu IP led to a downgrade in overseas sales forecasts by Morgan Stanley. The company plans to extend Labubu's lifecycle through new products and a film project. Rising production costs are expected to reduce gross margins, prompting a shift in retail strategy towards larger flagship stores and improved operational efficiency.

- Pop Mart International Group's shares fell 1.2% despite reporting first-quarter revenue growth of 75% to 80%, raising concerns over the fading appeal of its Labubu IP.  
- Revenue in the Chinese market surged 100% to 105%, while overseas sales showed strong growth, particularly in Europe and the Americas.  
- The company plans to address challenges by extending Labubu's lifecycle and improving retail strategies, including a focus on larger flagship stores.

Yicai

Pop Mart Shares Slide Despite up to 80% Q1 Revenue Growth as Labubu Craze Cools

Bernstein has reiterated an Underperform rating on POP MARTdespite a strong 1Q revenue growth of 75% to 80%, which met market expectations. The report raises concerns about the sustainability of this growth and profitability, particularly in light of increased investments and potential demand pullback risks in subsequent quarters. The broker noted that while mainland China market growth was robust, the overseas performance was merely in line with expectations. Bernstein maintains a cautious outlook for FY2026 with a target price of HKD181.

- Bernstein reported that POP MART (09992.HK) achieved 1Q revenue growth of 75% to 80%, exceeding market expectations.  
- The growth in Mainland China reached 100% to 105%, although concerns remain about the sustainability and profitability of this growth.  
- Bernstein has maintained an Underperform rating on POP MART, noting potential risks of demand pullback in subsequent quarters and a cautious outlook for FY2026.

AllianceBernstein

Bernstein Reiterates Underperform on POP MART ; 1Q In Line but Margin and Sustainability in Doubt

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0513 | Dolphin Research Focus: 🐬 Macro/Industry 1) On May 12, the Bureau of Labor Statistics reported April CPI rose 0.6% MoM and 3.8% YoY, with core CPI at 2.8% YoY, all higher vs. prior. Energy and shelter remain the key drivers.Inflation proved stickier than expected. Most on Wall St. now expect the Fed to delay cuts, implying a higher-for-longer rate path.2) On May 12, the U.S. Senate voted 51–45. It confirmed Kevin Warsh as a Fed Governor...

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UB#POMRTRC2706B(57622.HK)

CICC Cuts POP MART TP to HKD218 and Lowers Earnings Forecasts, Maintains Outperform Rating

BOCOM International Cuts POP MART TP to HKD218.9, Lowers Earnings Forecasts

M Stanley: POP MART 1Q26 APAC Sales Miss; Share Price to Hinge on High-frequency Data in Coming Weeks