Xin Lang Cai Jing·2026-01-16 03:48Core Viewpoint - The stock price of Pop Mart has experienced a significant decline, dropping nearly 47% from its peak of 339.80 HKD in August 2025 to 179 HKD as of January 16, 2023, indicating a transition from explosive growth to sustainable growth according to Morgan Stanley's report [3][7]. Group 1: Stock Performance - On January 16, 2023, Pop Mart's stock initially fell nearly 7%, later narrowing the decline to 5.39%, closing at 179 HKD per share [1][4]. - The stock opened at 189.20 HKD, reached a high of 190.00 HKD, and a low of 176.40 HKD during the trading session [2][5]. - The total trading volume was 16.08 million shares, with a total market value of 240.4 billion HKD and a price-to-earnings ratio of 32.57 [2][5]. Group 2: Future Growth Outlook - Morgan Stanley's report suggests that Pop Mart is transitioning from a phase of explosive growth over the past two years to a phase of sustainable growth [7]. - The report predicts a significant slowdown in revenue growth for Pop Mart's Labubu brand by 2026, with the growth engine shifting from a single blockbuster to a diversified approach driven by non-Labubu IP [7].