Bernstein lowers rating on Li Auto, says EV maker will see a 'bumpier road ahead'
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WIRED
26 minutes ago
- WIRED
Labubus Are on Track to Be a Billion-Dollar Business This year
Aug 19, 2025 10:49 AM Pop Mart, the Chinese company behind the Labubu franchise, has sold $670 million worth of related products so far this year—more than iconic US toy lines Barbie and Hot Wheels. Photograph: UCG/Getty Images Labubus, the mischievous elf plush toys seen hanging on every celebrity's designer bag this summer, have gone viral across the world, but now we know exactly how popular—and profitable—they have been. On Tuesday, the Chinese company Pop Mart, which manufactures and sells the Labubu franchise, released its financial report for the first half of 2025, and it has had a terrific year. Overall, Pop Mart's revenues grew 204 percent compared to the year before, and net profits increased 362 percent. The company's gross margin rate reached 70.3 percent in 2025. The Monsters franchise, designed by Chinese-Dutch artist Kasing Lung and primarily represented by the character Labubu, generated over 4.81 billion RMB ($670 million) in revenues for Pop Mart in the first six months of 2025, a 668 percent increase compared to the same period last year. (For comparison, Mattel sold $374 million worth of Barbie toys and $626 million worth of Hot Wheels products during the same period.) The soaring popularity of Labubu has also made The Monsters series Pop Mart's most successful franchise, contributing to nearly 35 percent of the company's total revenues, an increase from just 14 percent in June 2024. Another major factor that has helped turn Labubu into a viral sensation is the company's product line of vinyl-plush keychains. This specific type of toy, which combines the softness of plush toys and the sculptural details of facial features seen more in figurines, has unexpectedly blown up, even though the company only started selling them in late 2023. First in China and then in the West, the soft Labubu keychains have been used as bag charms and accessories by celebrities like Rihanna, Lady Gaga, and Kim Kardashian, fueling a social media obsession and causing them to sell out everywhere. According to Pop Mart's latest financial report, the company's revenue from plush products grew over 1200 percent overall this year to 6.13 billion RMB ($854 million), accounting for 44 percent of the company's total revenues. Pop Mart has released over 20 different plush products since the start of 2025 using different manufacturing techniques in an attempt to replicate Labubu's success. While these numbers are impressive, they only capture a portion of the true popularity of Labubu keychains, because there are also countless counterfeit Labubus (commonly called Lafufus by fans) sold around the world. Because of a supply shortage deliberately orchestrated by Pop Mart, some of the company's products, including the Labubu plush dolls, are traded for far more than their list price on second-hand markets, profits of which are also not reflected in its earnings. Pop Mart was founded in 2010 as a variety store selling trendy toys and gadgets, and has become increasingly international. By June 2025, over 40 percent of Pop Mart's revenue came from outside China. Pop Mart has been growing particularly fast in the United States. Revenues in the Americas market (primarily the US) rose more than 1100 percent to 2.26 billion RMB ($315 million) in the first half of 2025. The number of physical Pop Mart stores in the Americas have also almost doubled to 41, making it the company's fastest growing region. In total, Pop Mart currently has 571 stores across the world.
Yahoo
an hour ago
- Yahoo
AMD is gaining more share in the CPU market, Bernstein says
-- Advanced Micro Devices is continuing to gain ground on Intel (NASDAQ:INTC) in the central processing unit (CPU) market, according to Bernstein analysts. In a note on second-quarter dynamics, Bernstein said the PC market was stronger than expected, with shipments up about 7% year over year and above pre-COVID levels. While channel overshipments persisted, the firm highlighted AMD's progress in desktops. 'AMD gained a substantial ~4 points of desktop unit share at ~30.2%, and ~5 points of revenue share,' Bernstein wrote. By contrast, Intel 'gained back ~2 points of notebook CPU unit share following several quarters of headwinds.' Bernstein added that AMD's average selling prices (ASPs) are rising, underscoring competitiveness. 'AMD's notebook ASPs rose 8% QoQ, now at a premium to Intel. AMD's desktop ASPs rose ~2% QoQ and sit at a substantial premium to Intel,' analysts noted. Intel's ASPs, meanwhile, were described as 'flattish QoQ, and at a discount to AMD (NASDAQ:AMD).' Beyond PCs, AMD also gained traction in servers. Bernstein said that while Arm CPUs took share from both major vendors, 'in the x86 space AMD continued to gain, with revenue share up ~1.5 points, crossing 40% for the first time.' The firm noted that AMD's upcoming accelerator roadmap could be a longer-term catalyst. 'The real prize remains the MI4XX ramp, which (on paper at least) is supposed to close the raw performance gap and bring rack scale offerings to the portfolio,' Bernstein said. Bernstein rates both Intel and AMD at Market Perform, with price targets of $21 and $140, respectively. Related articles AMD is gaining more share in the CPU market, Bernstein says After soaring 149%, this stock is back in our AI's favor - & already +25% in July If Powell goes, does Fed trust go with him? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Politico
an hour ago
- Politico
Trump Is Demanding a Panama-China Breakup — and Making Life Harder for Panama's Leaders
'You have the chance to speak with [China's] Minister of Foreign Affairs and the Minister of Commerce, or whoever it is you want, and Panama didn't send even a vice minister,' said Sebastian Naranjo, a Panamanian scholar who used to lead the Asia-Pacific division of Panama's Ministry of Foreign Affairs. 'There's been a clear separation and slowdown' in Panama-Chinese relations, he said. Beyond these signs of cooling diplomatic relations, once-growing commercial activity between the two countries appears to be dwindling, too, particularly on big infrastructure projects. While China was once the exclusive superpower bidding for a stake in major projects like the fourth bridge over the Panama Canal and a new metro line in Panama City, the United States appears to be vying to replace it on some major transportation projects in Panama. After Trump's election, Mulino's administration hired the American firm AECOM to revise a master plan, first completed by a Chinese company, for a high-speed rail line across the country. In June, Mulino met with leaders from a dozen American companies, including Visa, Pfizer, JP Morgan and Amazon, which is eyeing Panama as the site of a potential data center or distribution or logistics hub. Earlier this year, Amazon launched free delivery in Panama and met with Panama City's mayor to discuss a partnership program that helps cities migrate municipal technology and software to Amazon Web Services. The global spotlight, though, remains squarely on the Panama Canal, where China's grip on development is loosening, too, and American influence is stepping in to fill it. A consortium of companies led by the American firm BlackRock is in negotiations to acquire two ports on the canal owned by the Hong Kong-based CK Hutchison, which is looking to sell its $22.8 billion international ports business. The sale was touted by Trump as a victory in his campaign against Chinese influence along the canal. For now, it's unclear if it will go through: Panama Canal Authority administrator Ricaurte Vásquez Morales has raised concerns that the acquisition could compromise the canal's neutrality, and Chinese regulators have put the sale on hold as Beijing continues to haggle for a stake in the deal. The Panama Canal advisory board, a group of business leaders that reviews toll increases and counsels Vásquez and the board of directors, also lacks a Chinese member for the first time in decades, after the country's sole representative, Wang Haimin, the executive vice president of China Ocean Shipping Company, departed the board last winter. His exit, confirmed by advisory board member Joe Reeder, could put the canal's second-largest user at a disadvantage at a critical moment. 'There is every reason in the world for COSCO to be on that board, because they're, if not the largest, one of the largest users of the canal,' said Evan Ellis, a professor of Latin American studies at the United States Army War College who called Haimin's departure 'an anomaly whose timing coincides with the ratcheting up of U.S. pressure.' All of this has been noted by Panamanians — many of whom have been unhappy with Mulino's deference to Trump and, specifically, with his spurning of China. Panama's compliance with Trump's demands, such as an April agreement to allow more American forces onto Panamanian military bases, has proven unpopular. Thousands of Panamanians marched in May against the agreement, compounding a wave of domestic turmoil in the country triggered by social security reforms passed in March. A July poll found that 73.6 percent of Panamanians disapprove of the national government, up from 14.8 percent in October.
