Pop Mart slips after Citi cites overseas market pressures

Pop Mart International Group 9992.HK stock slips 2.9% to HK$158.1, on track for its biggest one-day pct fall since April 17

Beijing-based Labubu maker Q1 overall unaudited revenue jumps 75%-80% y/y; China surges 100%-105% y/y, Asia Pacific expands 25%-30%, America climbs 55%-60%, and Europe up 60%-65%

Citi ("buy") says revenue growth was beyond market's bearish expectation, but might not alleviate market concerns over growth sustainability given much q/q decline in overseas markets

"We are concerned about tightening top-line pressure in overseas markets as base goes higher from 2Q26" - Citi

YTD, stock down 15.5%, benchmark Hang Seng Index .HSI up 2.6%