Pop Mart, Laopu Gold See Strong 2025 Earnings Despite China Slump

mnes(q0{fzuq1ep0owo{a3ol_media_dl_1.png BloombergArticle content(Bloomberg) — Pop Mart International Group Ltd. and Laopu Gold Co. are set to post triple-digit growth, making them standouts in China’s retail landscape defined by sluggish domestic spending. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe craze for Labubu dolls and hype around ancient-style gold jewelry — aided by an army of influencers generating online buzz — has now abated, raising questions about the sustainability of their rapid growth. Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentPop Mart is pivoting to new toy characters like Twinkle Twinkle and Skullpanda, while a Labubu movie with Sony could rekindle interest as sales growth slows. Laopu remains well positioned as China’s gold-linked jewelry spending could outpace broader consumption again in 2026, Bloomberg Intelligence said.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThis resilience stands in stark contrast to the rest of the consumer sector, with earnings due at a time when China’s consumer spending has seen the worst start to any year outside the pandemic.Article contentMajor players like Haidilao International Holding Ltd. and Anta Sports Products Ltd. likely saw earnings weaken last year. Meituan faces continued headwinds from intense food delivery competition, while Xiaomi Corp. sees high memory prices eroding smartphone margins.Article contentIn the energy sector, Cnooc Ltd. must now contend with complexities as the conflict in the Middle East drives oil prices higher.

Peer China Petroleum & Chemical Corp., known as Sinopec, expects demand for refined oil to weaken due to the rise of renewables and uncertainty over global oil prices. On Sunday, it had reported steeper-than-expected decline in profit last year.Article contentArticle contentHighlights to look out for:Article contentMonday: Laopu Gold (6181 HK) projected a more than 200% increase in full-year revenue and profit, crediting its strong performance to its market leadership and store expansion. Aided by rising gold costs, its routine price hikes have triggered queues of consumers looking to buy before prices climb further. Citi expects growth to climb this year as recently opened and upgraded stores contribute to sales.Article contentTuesday: Xiaomi (1810 HK) is expected to see quarterly revenue growth slow to single digits, its weakest pace since 2023.

Chief Executive Officer Lei Jun said surging artificial intelligence demand caused severe chip shortages and pressured the firm’s smartphone business in the past year. EVs will be the sole bright spot, with revenue set to gain more than 30% sequentially on record deliveries, BI said. Article contentHaidilao’s (6862 HK) growth plans will be in focus, as founder Zhang Yong returned as CEO in January. As Zhang was always involved in management, Jefferies said the core goals of solidifying brands and technology-led efficiency gains are unlikely to change.Trending Garry Marr: Why it could be the right time to walk away from your real estate Personal Finance Public-private partnership launches $1.3-billion fund to purchase unsold GTA condos Real Estate TC Energy could be open to return to B.C. LNG pipeline project as global gas crunch threatens Oil & Gas Oil prices could get high enough to force a COVID-level lockdown Commodities Canadian housing bears now have nine reasons backing them up Mortgages Article contentWednesday: Pop Mart (9992 HK) is set to post its strongest earnings on record, with operating income seen more than quadrupling from a year prior. Total sales across all IPs and product categories surpassed 400 million units globally last year. The Monsters, the toy series that includes Labubu, accounted for more than 100 million units. Article contentAnta Sports (2020 HK) will likely start recognizing some losses in the second half, stemming from its stake purchase in Puma SE after the German sportswear maker guided a 2026 operating loss of €50 million to €150 million, according to BI. Rebuilding the brand in the running category might further squeeze margins.Article contentThursday: Meituan (3690 HK) likely saw continued quarterly losses from intense food delivery competition. CEO Wang Xing earlier told managers that the firm will embrace more AI technologies, according to Citi. The company also remains committed to their investments in Brazil, although Wang has emphasized a more cautious approach, Citi said.Article contentCNOOC’s (883 HK) annual profit is expected to drop on lower crude prices. China’s green energy transition should provide a strong tailwind for the firm’s gas production growth, BI said. However, markets’ focus will be on the impacts of the war in the Middle East, and China’s order to halt diesel and gasoline exports.Innovent Biologics (1801 HK) is poised for its first annual profit after becoming the first Chinese company to gain domestic approval for weight-loss drug mazdutide. The company has emerged as the leading local challenger to global giants Eli Lilly & Co. and Novo Nordisk A/S.Article contentFriday: BYD’s (1211 HK) fourth-quarter profit is set to drop by about a third on fewer vehicle shipments due to stiff competition. More earnings downside lurks in the first quarter, BI said, as sales continued to drop into 2026. However, overseas sales are becoming more important for the automaker as exports gained momentum in the first two months of the year.Article content(Updates throughout.)Article contentShare this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Garry Marr: Why it could be the right time to walk away from your real estate Personal Finance Public-private partnership launches $1.3-billion fund to purchase unsold GTA condos Real Estate TC Energy could be open to return to B.C. LNG pipeline project as global gas crunch threatens Oil & Gas Oil prices could get high enough to force a COVID-level lockdown Commodities Canadian housing bears now have nine reasons backing them up Mortgages