An exhibition room at Pop Mart Subject Park, Land Land, Land Land, in Beijing, on June 18, 2025.
Pedro Pardo | AFP | Getty pictures
Beijing may have been achieved against “Blind” games, but analysts cancel it Pop Mart International – The company behind Labubu dolls – one of the hottest brands of China this year.
In an Editor on June 20 daily China’s state media for selling blind toys and trade cards from children under eight and verifying buyers and the parental approval and acceptance of parents in online transactions.
Without the pop-addeed pop mart, business paper for membership to support the “Blind Cards” company and “Mystery Boxes” of the company usually the actions that do not know what character is inside until they open.
Sequeyar, Pop Mart Price marked for the end of June 20, which has been marked by 600% of its 12 months.
From then on, Stock has taken some ground, near the middle of all the time in the middle of June.
State Media Comment on the blind games with an adhesive regulations on video games in recent years, those intended Curbing gaming addiction and purchases in a wireless game game by teenagers.
Banned this on long restrictions can play video games, as part of the broad-wide sector that Cleaned billions of dollars at the Value from Gaming Gaming China.
A video game child with a title during 2019 at the Future Conference in the International Expo Center in Hangzhou, 2013 in Hangzhou, Hangzhou, China Center.
Visual China group | Getty pictures
“The size of the influence of Chinese policies in other countries is higher in other countries,” Alfredo Montufar-Helu, an old counselor think of the China Center, a tank.
This said Analysts are fear of regular leaders such as Gener Zeris and Millinan, rather than small children, instead of the main children of POPT.
Pop Mart will be considered to test the regulation because it grows adults with appropriate shopping forces, Montufar-Helu said.
Local friends who focus on teenagers, at the same time, a serious impact “,” said: “Jeff Zhang, Anality Equity at Morningstar.
There is another factor that can affect the regulator of the regulation on Pop Mart. It is directed by external sales, especially in South Asia said. The share of China income will enter 30% of 30 years, he has projected. Pop Mart’s Outgoing Sale In 2024 already passed from the company’s general seller in 2021.
Pop Mart from 61% of your income has been removed from 2024 in 2024, according to it Annual ReportThe rest of the people mostly from Asia eastern Asian and Asia, as well as Hong Kong, Macau and Taiwan.
Its sales in North America have been 550% of the year rapidly, and the company has 90 Physical shops and selling machine Sports across the United States.
HSBC Bank more than 2025 from 2025 from 2025 to 2025 per 2025 per 2025 per 2025 per month. This number accounts for half of his projected income, from 39% in 2024.
That just builds the meteoric growth that the company lasted last year, when the expatriate has been repeated from 13.04 billion Yuan, when the interests was about three times.
Dopamin economy
The quick popularity of intense stiffened toys that concerns the original slices of the country, in the face of economic slowly increasingly increasing.
Small Chinese customers want to build a game collections for the feeling of “cheap predictability”, as it can be “one of the hearts.
Pop Mart with prices from 59 yuan from 59 Yuan to 599 Yuan. Collectors often cross hundreds or thousands of yuan, and rare models can fetch Six-number The second of the state’s media comment on the blind toy-box toys from Beijing Lines on video games for a few years ago, handy fees.
Diana Lagarer (left) S Sahar Kutlu for the sale of some Labubu items for sale at Anaheim on June 25 2025 for the seller in Anaheim.
Koma Medianews | Getty pictures
“The article is unexpected, unexpected. In addition to people that people were doing blind prophets, sincere.”
“When unaccondent is solved,” he said, when the blind box is open, like fun, surprise and pleasure coming.
Seeing others share their experiences of the blind media on social media, as they share a response to the brain, because he needs social relations, the psychologist said.
Scalpers, counterfeits, delaying production
But although Labubu fruit does not show slowly signal, Pop Mart is still facing other problems that they may speak his teeth, analysts.
“When the main MART IP, like LABUBU, there is a LABUBU” on the past two years, “there is no guarantee over five to ten years,” Zhang said.
Other risks around the ability to communicate to the description of the demand and enclosure, the HSBC Analysts said.
Pop Mart pulled an apology out Last month after an exile in commands, complaining about the internet to complain about the internet after they stop.
False games can also call pop mart at home and abroad, along with government efforts at the scotching of the government.
Customs in Porta Ningbo, one of the country’s bus ports, handled over a million False labbons in the first six months of this year, on violations of intellectual homes and smuggling concerns.
This photo was drawn on June 18
Pedro Pardo | AFP | Getty pictures
To keep your brand new, pop up a mart from plays Disney, repeated on expansion of your IP portfolio, starting Pop-up shopsa The movie studio and a The topic of the park.
Pop Mart Wang Ning Founder once stopped in his yard to call the company “China Disney.”
But they don’t get the ineftable Initiatives.
“Animation production requires a strong narrator team to deliver obligatory stories,” said Echo gong, a consultant Shanghai-based SHAND. Added that the park managed is also a demand for greater skill and investment rather than selling shoes.
– CNBC Evelyn Cheng attended this story.
