On March 29th, Beijing-based art toy company Pop Mart (HK:09992) released its full-year 2022 financial results. The company’s revenue increased by 2.8% year-on-year to RMB 4.62 billion, a significant decline in growth compared to the previous year’s 78.7% increase. Net profit also decreased by 44% year-on-year to RMB 476 million.
The company cited the ongoing COVID-19 pandemic as a major factor affecting its performance, with many major regions and cities implementing travel restrictions that have impacted local economies and consumer confidence in the short term. The cons …
