[ET Net News Agency, 1 December 2025] UBS lowered the target price for Pop Mart (09992) to HKD380 from HKD435 and maintained the "buy" rating.
The research house said key risks in China's pop toy industry include: 1) a slowdown in China's economy dampening pop toy spending; 2) internet firms entering the market, which could intensify competition; 3) exposure to tighter regulatory scrutiny due to its blind box format; and 4) fashion risk in existing intellectual properties. (rc)
The research house said key risks in China's pop toy industry include: 1) a slowdown in China's economy dampening pop toy spending; 2) internet firms entering the market, which could intensify competition; 3) exposure to tighter regulatory scrutiny due to its blind box format; and 4) fashion risk in existing intellectual properties. (rc)