Pop Mart Shares Surge in Hong Kong After First Buyback in Nearly Two Years

Pop Mart International Group Ltd (HK:9992) shares rallied sharply in Hong Kong trading on Tuesday after the company announced its first share buyback since early 2024, signaling renewed confidence from management amid weakening market sentiment. The Hong Kong-listed toymaker, best known for its viral Labubu dolls, saw its stock price jump as much as 10% to HK$199.60, rebounding from its lowest level in eight months.

According to a stock exchange filing, Pop Mart repurchased 1.4 million shares on Monday at a total cost of HK$251 million, or roughly $32 million. Data reviewed by Investing.com confirmed that this marked the company’s first buyback in almost two years, making it a notable move as investors reassess the company’s growth outlook.

The share buyback comes at a time when investor enthusiasm surrounding Pop Mart’s flagship Labubu products has shown signs of cooling. Labubu dolls previously went viral across social media platforms, driving a surge in consumer demand and fueling a sharp rise in Pop Mart’s valuation throughout 2024 and into early 2025. This social media-driven hype played a key role in pushing the company’s stock significantly higher during that period.

However, by late 2025, the momentum behind Labubu appeared to fade as online buzz declined, leading to sustained pressure on Pop Mart’s share price. As a result, the stock entered a prolonged pullback, reflecting concerns over the durability of demand and the company’s ability to replicate past viral successes.

Despite the recent downturn, Pop Mart shares have still posted strong gains over the year. The stock recorded a 109% increase in 2025, even after giving up a substantial portion of the more than 200% rally seen earlier in the year. Tuesday’s rebound suggests that investors may be viewing the buyback as a positive signal, potentially helping stabilize the stock and restore confidence in the Hong Kong-listed consumer brand.

For more breaking news, market analysis, and insights on Hong Kong stocks, investors continue to monitor developments closely as Pop Mart navigates shifting consumer trends and market expectations.