Despite the Chinese state-run media People's Daily publishing a commentary calling for stricter regulation of blind boxes, POP MART (09992.HK) -4.200 (-1.665%) Short selling $241.24M; Ratio 11.855% 's main target audience is aged 18-45, differing from the blind cards aimed at primary and secondary school students, JPMorgan's research report indicated. It is expected that retailers will more strictly enforce age control requirements, but this is unlikely to affect POP MART's sales. The rating for POP MART was Overweight. POP MART’s stock price has slid by 14% over the past five trading days (vs a 3% subtraction in the HIS in the same period), and the recent weak stock price presents a bottom-fish opportunity. Related NewsTF Securities: Investors Shall Wait for Easing of Capital/ Sentiment Before Entering HK Stock Mkt, Observe Whether Capital Flows Back to Heavyweights Like BABA & XIAOMIThe broker recently included POP MART in its Positive Catalyst Watch for reasons including: (1) a potential positive profit alert in mid-July (JPMorgan forecast a profit of RMB3.5 billion for 1H25, topping the full year of 2024); (2) the upcoming release of the “Labubu & Friends” animation (copyright registered in June, possibly coinciding with new product launches); (3) the launch of Labubu x Uniqlo T-shirts in August; (4) the opening of two new “POPOP” jewelry stores selling more Labubu products, along with other IP products such as SkullPanda, Molly, and Dimoo; (5) the potential launch of interactive/AI toys (the company has not disclosed this; recently, major online markets have seen counterfeit “Lafufu” products that talk/ sing/ walk/ dance).(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-25 12:25.)