Stock investors are capitalising on the spending power of China’s Generation Z consumers, who splurge on everything from intellectual property (IP) toys to low-priced drinks, reaping multifold returns on so-called new consumer stocks.The ascent of Pop Mart International Group, Mixue Group and Laopu Gold is one of the few bright spots in China’s sluggish consumer industry, which has been plagued by a weak jobs market and the deflationary trend.
The robust performance has come at the cost of...