Pop Mart International Group Limited

Here Group Limited

MINISO Group Holding Limited

Labubu toys sold in surprise boxes are not the only ones causing excitement among buyers. Last year, the designer toy Wakuku appeared in China, and since March this year it has been sold in the Miniso chain. Buyers are also definitely queuing up for these dolls, and shares in QuantaSing, the company that owns the rights to Wakuku, are up more than 340% since the beginning of the year. Will they be able to disrupt the business of Pop Mart, the company that produces Labba? &nbsp;

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In mid-June, China's state-run media outlet "Renmin Zhibao" <a href="https://www.bloomberg.com/news/articles/2025-06-20/china-warning-on-blind-box-toys-sends-pop-mart-shares-tumbling?embedded-checkout=true">called</a> for stricter regulation of blind box sales - so-called "surprise boxes" with toys, when the buyer does not know what is inside, Bloomberg wrote. Current rules prohibit the sale of such boxes c toys to children under 8 years old and require parental consent to purchase for children from 8 to 18 years old.

Labooboo v. Chinese authorities: will tougher regulation stop Pop Mart?

Bloks Group Ltd

Morgan Stanley has removed the stock from its list of prioritized investment ideas in China and Hong Kong