Pop Mart reports 45 to 50% revenue decline as Labubu sales weaken across major markets

Revenue in mainland China fell 25 to 30 per cent in the third quarter from a year earlier, while revenue in Asia-Pacific markets outside mainland China and Oceania dropped 65 to 70 per cent, according to a business update filed to the Hong Kong stock exchange late Tuesday.

Revenue in the Americas declined 70 to 75 per cent, while Europe and other regions recorded a fall of 50 to 55 per cent during the same period, the filing showed.