泡泡玛特股价跌幅超8%，业内提醒单一IP依赖等风险

Group 1 - The core point of the news is that Pop Mart's stock price has dropped significantly, with a decline of over 8% on December 8, reaching a new low in nearly eight trading days, and a total drop of nearly 40% since its peak in August, resulting in a market capitalization loss of over 160 billion HKD [1][3] - Market sentiment is increasingly bearish, with short selling volume rising from 1.11 million shares to 5.39 million shares between December 2 and December 8, and the amount of short selling increasing from 241 million HKD to 1.09 billion HKD during the same period [1] - Despite a significant increase in overall revenue, Pop Mart's stock price fell by 8.08% on the day of the earnings report, leading to a market capitalization decrease of 29.55 billion HKD, bringing it down to 336.27 billion HKD [3] Group 2 - For the third quarter of 2025, Pop Mart reported a year-on-year revenue growth of 245%-250%, with domestic revenue increasing by 185%-190% and overseas revenue growing by 365%-370% [2] - The revenue growth from offline channels was 130%-135%, while online channels saw a growth of 300%-305% [2] - Morgan Stanley downgraded Pop Mart's target price from 382 HKD to 325 HKD, reflecting a decline of about 15%, citing unfavorable trends in the global consumer sector [3]