该行续指，在IP储备和海外拓展方面，泡泡玛特保持行业领先。公司通过挖掘外部艺术家和发展自有设计团队，丰富了IP组合，降低了对单一头部IP的依赖。精细化运营和本土化策略使得公司在海外市场反响良好。未来，随着线下门店增加和线上布局完善，海外市场的贡献预计将超越中国内地。该行认为，考虑到中国潮玩市场的快速发展和泡泡玛特全产业链的成熟运营，预计其将捕捉行业增长并展现优质的海外拓展成效。Pop Mart (09992) opened more than 3% higher, as of the time of writing, up 3.08%, priced at 92 Hong Kong dollars, with a transaction volume of 10.0832 million Hong Kong dollars.
According to Zhixin Finance APP, Pop Mart (09992) opened more than 3% higher, as of the time of writing, up 3.08%, priced at 92 Hong Kong dollars, with a transaction volume of 10.0832 million Hong Kong dollars.
Bocom Intl released a research report pointing out that since 2024, Pop Mart's performance has continued to shine, with overall revenue expected to grow by 120% to 125% year-on-year. Looking ahead, the online business will benefit from multi-channel layout and increased brand awareness, while the offline business will rely on the increase in the number of stores and efficiency to drive growth. Overseas business is expected to continue benefiting from store expansion and successful localization strategy. The key to performance growth lies in capturing growth opportunities in the collectibles industry and diverse consumer demands.
The organization continued to indicate that in terms of IP reserves and overseas expansion, Pop Mart maintains an industry-leading position. The company enriches its IP portfolio by exploring external artists and developing its own design team, reducing dependence on a single leading IP. Refined operation and localized strategy have led to a positive response in overseas markets. In the future, with the increase in offline stores and the improvement of online layout, the contribution of overseas markets is expected to surpass that of mainland China. The organization believes that considering the rapid development of China's collectibles market and the mature operation of Pop Mart's entire industry chain, it is expected to capture industry growth and demonstrate quality overseas expansion achievements.
