Pop Mart International Group Ltd. warned it will probably miss the 20% full-year sales-growth target it set previously, after what executives described as a more difficult than expected first-half and pressure in overseas markets.

The Chinese toy and lifestyle brand, known for its collectible blind-box figures, has been expanding rapidly overseas in recent years. However, executives noted that international expansion has faced headwinds, contributing to the shortfall.

The company did not provide specific revenue figures but indicated that second-half performance will be crucial to closing the gap. Analysts have raised concerns about whether Pop Mart can sustain its previous momentum amid economic uncertainty and shifting consumer demand.

Shares of Pop Mart fell following the announcement. The company had previously projected strong growth driven by its global footprint, including markets like the United States and Europe. Moving forward, Pop Mart may need to adjust its strategy to address the challenges in key overseas markets.