A fortnight after cross-border e-commerce platform DHgate topped the shopping app ranking on the Apple App Store, a new viral Chinese shopping app has claimed the top spot. On 25 April, Chinese toymaker POP MART officially responded to the news and confirmed that it had topped the shopping app list, while jumping 114 places on the free apps ranking to number 4.
In the meantime, POP MART experienced a surge at the Hong Kong Stock Exchange (HKEX). On 28 April, the toymaker’s shares rose 13% at one point, pushing its price to 195 HKD (25.14 USD) and the company’s market value to 250 billion HKD (32.23 billion USD).
- #泡泡玛特登美国AppStore购物榜第一 POP MART tops shopping ranking on US App Store: 14.88 million views on Weibo, ranking number 25 on the Hot Search list
- #泡泡玛特涨超8% POP MART shares up more than 8%: 6.22 million views on Weibo, ranking number 40 on the Hot Search list
POP MART recently released a forecast of its performance in Q1 2025, projecting 165% to 170% in growth globally, with the Chinese market growing 95% to 100% and 475% to 480% abroad. With POP MART, Laopu Gold and Mixue, the HKEX saw large growth with consumer stocks. Pundits think it might be because these are less likely to be affected by geopolitical factors, unlike the tech sector.
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