finance
Pop Mart buy-backs fail to stop share slide amid Labubu reliance
Beijing-based Pop Mart repurchased shares across multiple rounds totaling about HK$1.74 billion this year but the stock continues to fall after results, raising questions about growth concentration in the Labubu franchise.
Apr 3rd 2026 · China
Insights
- Pop Mart bought 700,000 shares on Thursday for HK$99.2 million at HK$140.90 to HK$142.30.
- The company repurchased 9.32 million shares over six days from March 26, spending about HK$1.4 billion in that period.
- Year to date Pop Mart completed eight buy-back rounds, acquiring 11.22 million shares for about HK$1.74 billion.
- Shares closed at HK$141.80 on Thursday, down about 48 percent from the February 10 peak and wiping nearly HK$101 billion in market value.
- Stock plunged nearly 23 percent on March 25 after results, despite a reported 285 percent net profit rise and a forecast of at least 20 percent growth.
- Analysts cut target prices and investor sentiment soured as concerns grew over the companys heavy reliance on its Labubu franchise and valuation.