Zhitong Finance APP has learned that, $POP MART (09992.HK)$ It rose over 5%, reaching a new listing high of 130.5 Hong Kong dollars.

In terms of news, Goldman Sachs' recent Research Reports point out that POP MART's highlights for exclusive/own IP new products include the collaboration with Labubu and 'One Piece,' which has sold out across all channels. In terms of third-party IP, the Nezha IP products were very popular in February, with sales exceeding 0.6 million yuan on Douyin; the brand also launched Barbie doll toys before International Women's Day. Regarding plush toys, according to data from Chan Mama, the supply of plush toys on Douyin in February decreased compared to January-December, but still remained higher than previous months. In the secondary market, last month, the sample SKU prices of Labubu/Crybaby remained stable with strong demand and a tight supply-demand relationship, and the popularity of the IP continued to rise. The bank also noted that POP MART is launching more plush toy products for its IP, including third-party IPs (such as Nezha and Mickey).

Morgan Stanley released a Research Report forecasting that POP MART's sales will double in the fiscal year 2024, with approximately 135% year-on-year accelerated growth in the fourth quarter of fiscal year 2024. For fiscal year 2025, it is anticipated that POP MART's sales will grow by 47%; in the first quarter of fiscal year 2025, sales may increase by over 100% due to the rapid sell-out of many popular products launched a few months ago, despite more proactive restocking since the end of the fourth quarter of fiscal year 2024. The bank raised the Target Price for POP MART from 113 Hong Kong dollars to 135 Hong Kong dollars and reiterated its 'Shareholding' rating, primarily due to upward adjustments of 7%, 19%, and 21% in the company's adjusted earnings per share forecasts for fiscal years 2024 to 2026.

Editor/jayden