Just now, Pop Mart released its 2026 interim results. The numbers show that first-half revenue came in at RMB 17.173 billion, up 23.8% year over year but well below the market expectation of RMB 19.975 billion. Adjusted net income was RMB 5.156 billion, also significantly below the expected RMB 6.665 billion. In the first half of 2026, The Monsters, which includes Labubu, generated RMB 4.45 billion in revenue. Twinkle Twinkle generated RMB 2.65 billion, while Crybaby generated RMB 1.63 billion. By region, Pop Mart’s domestic revenue for the first half of the year was RMB 12.2 billion, revenue from the Asia-Pacific region totaled RMB 2.58 billion, revenue from Americas totaled RMB1.89 billion, and revenue from Europe and other regions totaled RMB 0.51 billion. Overseas revenue fell signific