Pop Mart International Group Ltd Ordinary Shares

09992: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Pop Mart Earnings: Fair Value Cut 22%, but Sales Recovery Potential Leaves Shares Undervalued

Jeff Zhang

Oct 28, 2026

Pop Mart's revenue declined 45%-50% year on year in the third quarter of 2026, with a 25%-30% decrease in China and a more than 65% slump in Asia Pacific and the Americas. However, the number of domestic registered members rose by double digits, with the repeat purchase rate largely unchanged.

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Pop Mart International Group Ltd Ordinary Shares

Pop Mart Earnings: Fair Value Cut 22%, but Sales Recovery Potential Leaves Shares Undervalued

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