POP MART: No Longer a Playground for Hedge Funds, but Interesting for Long Money?
POP MART’s shares plunged over 30% in five sessions after its earnings release, wiping out roughly US$13 billion in market value. The drop was driven by slower overseas revenue growth—down from a 440% YoY surge in H1 2025 to 243% in H2—concerns over heavy reliance on the Labubu IP, and a conservative guidance of “no less than 20%” growth. Despite the setback, Greater China revenue still expanded 135% YoY, and new IP Twinkle Twinkle exploded 1,600% YoY, now contributing 5.5% of sales. Long‑term investors such as Duan Yongping are re‑entering, signaling a shift from hedge‑fund speculation to “long‑money” interest.
When a Handbag Brand Makes Better Podcasts than Podcasters
Chinese luxury brands are abandoning the short‑video‑first playbook, targeting affluent urban women who are growing weary of Douyin and Xiaohongshu. Brands like GIADA and Songmont have launched long‑form podcasts on Xiaoyuzhou FM, amassing over a million and 140,000 subscribers respectively....