Glonghui, April 24 | Bank of China International published a research report stating that Bubble Mart's revenue performance for the first quarter of fiscal year 2024 exceeded market expectations. In addition to domestic revenue, which recorded strong growth, overseas revenue grew by 240% to 250% year-on-year. The bank believes that as the number of retail stores opened by the company in overseas markets continues to increase and it has recorded strong sales performance, Bubble Mart has shown its appeal to local consumers. Bank of China International also indicated that due to the strong performance of plush toys, in addition to the building block toys that will be launched in June. The bank believes that Bubble Mart is effectively diversifying categories to reduce its dependence on the blind box business. As a result, the bank raised Bubble Mart's target price to HK$39.6 and maintained a “buy” rating.
大行评级｜中银国际：上调泡泡玛特目标价至39.6港元 维持“买入”评级
Bank Ratings | Bank of China International: Raising Bubble Mart's Target Price to HK$39.6 to Maintain “Buy” Rating
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