<div id="readability-page-1"><div>By Tracy Qu and Megan Cheah Shares of Pop Mart International rose amid investor optimism over the company's outlook. The Labubu maker's shares jumped as much as 8.6% on Monday, before pulling back to close 5.8% higher at 257.20 Hong Kong dollars, equivalent to US$32.92. The benchmark Hang Seng Index posted a 1.8% gain for the day. &#34;We think Pop Mart will continue to diversify its [intellectual property] portfolio to moderate the reliance on Labubu and the Monsters,&#34; said Morningstar's Jeff Zhang. &#34;The global expansion should persist as well, with North America, Europe and the Middle East being the key regions for new store opening,&#34; Zhang added. Company founder Wang Ning said Friday at an annual staff event that Pop Mart's registered users surpassed 100 million globally as of the end of 2025. Sales of Labubu exceeded 100 million units last year, while total sales topped 400 million units, Wang said at the event. Citi analysts said in a recent research note that Pop Mart remains the bank's top buy in China's consumer sector. &#34;We expect its breakthroughs in IP diversification, product innovation, and monetization in a wide range of fields to sustain growth in 2026,&#34; the analysts said. The hype surrounding Labubu has cooled in recent months, and the company is now racing to find its next big hit to recreate that same viral spark. The &#34;ugly-cute&#34; doll is easy to get at Pop Mart stores now, compared with the dolls going for double their retail price on secondary markets at the height of their popularity. Pop Mart's stock took a hit in late 2025 after peaking in August. However, shares have rebounded in recent weeks, resulting in a year-to-date gain of 37%. Write to Tracy Qu at tracy.qu@wsj.com and Megan Cheah at megan.cheah@wsj.com (END) Dow Jones Newswires02-09-26 0434ET</div></div>

泡泡玛特

泡泡玛特国际的股价上涨了 5.8%，投资者对公司的前景持乐观态度，收盘价为 257.20 港元。晨星的 Jeff Zhang 指出，公司正在努力多元化其知识产权组合，并在全球范围内扩展，特别是在北美、欧洲和中东。泡泡玛特的创始人宣布全球注册用户超过 1 亿，Labubu 的销售数字也相当可观。花旗的分析师将泡泡玛特视为中国消费领域的首选买入，预计通过知识产权多元化和产品创新将持续增长。尽管近期波动，该股年初至今已上涨 37%

Labubu Maker's Shares Rise Amid Optimism Over Outlook

- Pop Mart International 股价因公司前景乐观上涨，周一涨幅最高达 8.6%。  
- 创始人王宁透露，2025 年底注册用户超过 1 亿，Labubu 销量超 1 亿。  
- Citi 分析师表示，预计公司在 IP 多样化和产品创新方面将持续增长。

由于对未来前景的乐观情绪，Labubu Maker 的股价上涨