<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>

泡泡瑪特

泡泡瑪特國際的股價上漲了 5.8%，投資者對公司的前景持樂觀態度，收盤價為 257.20 港元。晨星的 Jeff Zhang 指出，公司正在努力多元化其知識產權組合，並在全球範圍內擴展，特別是在北美、歐洲和中東。泡泡瑪特的創始人宣佈全球註冊用户超過 1 億，Labubu 的銷售數字也相當可觀。花旗的分析師將泡泡瑪特視為中國消費領域的首選買入，預計通過知識產權多元化和產品創新將持續增長。儘管近期波動，該股年初至今已上漲 37%

Labubu Maker's Shares Rise Amid Optimism Over Outlook

- Pop Mart International 股價因公司前景樂觀上漲，週一漲幅最高達 8.6%。  
- 創始人王寧透露，2025 年底註冊用户超過 1 億，Labubu 銷量超 1 億。  
- Citi 分析師表示，預計公司在 IP 多樣化和產品創新方面將持續增長。

由於對未來前景的樂觀情緒，Labubu Maker 的股價上漲