State media warns of “blind boxes” after

People every day Published state media One article On Friday, the practice of selling “blind boxes” was criticized, a mysterious box sold by chain boxes that contained unknown items from larger collections. Blind boxes rely on surprises and artificial scarcity elements, as shoppers buy boxes in hopes of getting rare items. This practice is also great for social media when clients host unboxing videos from mass audiences.

Although pop concert halls are not mentioned, the store chain relies on “blind boxes” to sell toys. Now, stocks in toy chains have fallen by more than 12% this week.

In its articles People every day Warnings are that blind boxes may lead to youth addiction and require stricter regulations on the practice. In 2023, China Selling is prohibited Blind box for children under 8 years old.

Additionally, Morgan Stanley noted Wednesday that the bank has removed Pop Mart from its focus list in China and Hong Kong and replaced it with insurer PICC P&C, According to CNBC.

Pop Mart shares have risen nearly 500% over the past 12 months. Sanrio, the dwarf Katie owner of the toy store chain now worth about $12 billion. Optimism is linked to the success of its Labubu doll series, Touted by celebrities Like Dua Lipa, Rihanna and Blackpink’s Lisa, and hope that young Chinese can beEmotional consumption,” even if they reduce their daily items, it will cost a lot of interest.

Wang Ning founded the first pop music store in 2010, and the chain quickly grew behind its own toys, such as the Molly Doll Line. The company made its debut on the Hong Kong Stock Exchange at the end of 2020.

Last year, Pop Concert Hall Report Revenues of RMB 13 billion (US$1.2 billion) increased by 107%. Profits rose by 204%, to RMB 3.3 billion (US$460 million).

Wang’s personal net worth surged along with Pop Mart’s stock. He is now 10 in China^Th– The most people, according to Forbes estimates.