China's Luxury Market Shifting From Status to Consumption As China's Middle Class Expands
Despite China's risks and macroeconomic issues, we believe even small rates of growth will yield significant opportunities for luxury firms.China's...
1.7k Views
2026 High Conviction: Sell Pop Mart Intl (9992 HK)
Pop Mart’s valuation assumes enduring super-IP momentum. With Labubu hype fading and no clear second growth engine, earnings risk skews to the...
1.1k Views
TOP TOY IPO Valuation Analysis: Is TOP TOY The Next Breakout IPO in Hong Kong?
TOP TOY, a fast-growing pop-culture collectibles brand company, is preparing for HK IPO. I have positive view of upcoming IPO and believe the...
785 Views
52TOYS Development IPO Preview: A “Must Own” Stock, Big Push In Overseas Markets Looks Promising
​Beijing-based 52TOYS Development filed to go public in Hong Kong. I like the toymaker's diversified IP product portfolio, scalable business model...
1.1k Views
Pop Mart International: Increasing Concerns About Resale Price Declines
Pop Mart (9992 HK)'s share price is down 33% from its peak levels in late August 2025. Going forward, we expect further downside risk on Pop Mart.
1.6k Views