[Pop Mart Hong Kong Stock Drops Over 20%, Non-Labubu IP Product Sales Fall Short of Expectations] According to Deep Tide TechFlow, on March 25, as reported by Financial Associated Press, Pop Mart's Hong Kong stock dropped over 20% in the afternoon. Earlier, the company announced its performance, with 2025 revenue and net profit roughly meeting expectations, but sales of non-Labubu IP products fell short of expectations.