Pop Mart reports rising revenue amid declining international sales

Pop Mart reported its first-half financial results, showing a 23.8 per cent increase in group revenue to RMB17.17 billion (US$2.55 billion). Profit attributable to shareholders rose 10.1 per cent to RMB5.04 billion.

Despite overall growth, the company's shares fell more than 4 per cent in Hong Kong following the disclosure. While revenue from mainland China, Hong Kong, Macau, and Taiwan jumped 47.3 per cent, the company is facing declining sales outside of China as hype for its Labubu character wanes.