Pop Mart shares sink despite revenue surge, as analysts say Labubu reliance worries investors

HONG KONG (AP) — Labubu doll maker Pop Mart’s shares sank nearly 23% on Wednesday despite robust revenue, with analysts pointing to investor concerns over the Chinese toy company’s ability to grow beyond its heavy reliance on Labubu-related income. The plunge in Pop Mart’s Hong Kong-listed shares came after the company reported 37.1 billion yuan ($5.4 billion) in annual revenue for 2025, up 185% from the year before but slightly missing analysts’ estimates. Profit for the whole of last year was 12.8 bil ...