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。Bubble Mart (09992) opened more than 3% higher. As of press release, it rose 3.08% to HK$92, with a turnover of HK$10.0832 million.
The Zhitong Finance App learned that Bubble Mart (09992) opened more than 3% higher. As of press release, it had risen 3.08% to HK$92, with a turnover of HK$10.0832 million.
According to a research report released by BOC International, Bubble Mart's performance has continued to be impressive 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.
The bank continued that Bubble Mart remains the industry leader 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. The bank believes that 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.
