Citi: POP MART growth remains strong in the second half, target price raised to HK $384.5
2025-07-16 03:20:11
On July 16th, Citi released a research report saying that POP MART (09992.HK) made a profit yesterday. It is expected that the mid-term revenue will increase by more than 200% year-on-year, and the profit will increase by at least 350% year-on-year. It is estimated that the net profit will exceed 4.17 billion yuan and the revenue will exceed 13.70 billion yuan, exceeding Citi and market expectations. Citi believes that the global recognition of IP such as LABUBU continues to improve, driving POP MART's second-quarter performance to significantly exceed expectations. Although the base is high, the growth momentum is expected to continue strong in the second half of the year, driven by the continuation of IP popularity, overseas expansion, replenishment plans and new product launches.
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