Pop Mart Rockets 600%, Riding Labubu Hype and Overseas Sales

Pop Mart International Group Ltd has shown remarkable growth, driven by the popularity of its Labubu collectibles and strategic IP collaborations.

The stock has surged nearly 600% over the past year, supported by strong overseas revenue growth (183% YoY) and celebrity endorsements. However, regulatory risks from China's potential crackdown on blind-box toys pose short-term volatility.

HSBC raised its target price to HK$331.5, citing robust sales potential, while Morgan Stanley removed it from its focus list.

The company's cultural initiatives, like the DIMOO-themed aircraft, highlight its cross-cultural appeal, making it a high-growth but high-risk play.

Might be worth a look.