Jinwu Financial News | According to BOC International Development Research Report, Bubble Mart (09992) has continued to perform well since 2024, and overall revenue is expected to increase 120% to 125% year-on-year. Looking forward to the future, online business will benefit from multi-channel layout and increased brand awareness, while offline business will rely on increased number and efficiency of stores to drive growth. Overseas businesses are expected to continue to benefit from store expansion and successful localization strategies. The key to increasing performance is to seize the growth opportunities and diversified consumer demands of the trendy gaming industry.
According to the bank, Bubble Mart maintains an industry lead in terms of IP reserves and overseas expansion. By exploring external artists and developing its own design team, the company has enriched its IP portfolio and reduced its reliance on a single head IP. Refined operations and localization strategies have made the company respond well 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.
Considering the rapid development of the trendy game market in China and the mature operation of the entire Bubble Mart industry chain, it is expected that it will capture industry growth and show high-quality overseas expansion results. The first coverage gave Bubble Mart a buy rating, with a target price of HK$103.65.
