Beyond Europe · China and Asia
Pop Mart
9992.HK · Hong Kong. Prices to 23 Oct 2026. Updated 25 Oct 2026.
Designer toys and collectibles (Labubu). Not luxury in the classic sense, but it competes for the same young Chinese spender.
Company tag
Stable
- Sales. Reported, H1 2026 (Jan to Jun): +23.8%recovering
- Shares. −30.4% YTD vs Hang Seng −9.9%: −20.5 ptsweakening
Same thresholds as the European Luxury Health Check, but against the local market: growth above 3% scores +1, below 0% scores −1; shares more than 5 points ahead of the Hang Seng year to date score +1, more than 5 points behind score −1. Total 0. This tag is separate and does not feed the European health score.
Key numbers
| Period | Revenue | Growth | Released |
|---|---|---|---|
| H1 2026 (Jan to Jun) | RMB17,173m | +23.8% | 20 Aug 2026 |
| Earlier periods | not yet verified |
Growth basis: reported, as the company reports it. Download CSV
| Margin and valuation | Value | Source |
|---|---|---|
| Gross margin, H1 2026 | 69.7% | source |
| Valuation (P/E, yield) | not yet verified |
Reporting lines
H1 2026 revenue by region, RMB thousand
| H1 2026 | Share | Change | |
|---|---|---|---|
| The PRC | 12,200,509 | 71.0% | +47.3% |
| Asia Pacific | 2,575,045 | 15.0% | −9.7% |
| Americas | 1,891,637 | 11.0% | −16.5% |
| Europe and other | 505,730 | 3.0% | +5.9% |
What management said
H1 2026 (Jan to Jun) Tone: cooling overseas
Released 20 Aug 2026. China grew strongly but every overseas region except Europe fell. Release.
- The PRC revenue up 47.3%. source
- Asia Pacific down 9.7%; Americas down 16.5%; Europe and other regions up 5.9%. source
- Gross margin 69.7%, from 70.3%. source
“During the Reporting Period, the Group recorded a revenue of RMB17,172.9 million, with a year-on-year growth of 23.8%.”
Interim results announcement, source
Call: No public call transcript checked for this release. Not yet verified.
Annual report. Interim results announcement. Annual report not yet reviewed.
Not yet verified: Q3 2026 business update (not yet verified from the company announcement). Reporting line tables beyond region.
Sources
- H1 2026 (Jan to Jun) release
- Share prices: Yahoo Finance daily closes
Last updated 25 Oct 2026. Quotes are copied verbatim from the linked releases.