POP MART Stock Forum

102856963 : It can wait until today's Earnings Reports, because it is uncertain whether the days after the Earnings Reports will rise or fall. Actually, yesterday during the Low Stock Price was a good opportunity to enter the market...

flavoredvapes OP : Below are a few additional “under-the-radar” points or angles worth highlighting, even if they weren’t front and center in Pop Mart’s 2024 summary. These might help round out a more complete investment thesis:
1. Reliance on Key Creators & IP Agreements: Pop Mart’s success depends heavily on a continuous flow of fresh, on-trend IP – whether via external creators/licensors or its internal design team (PDC). Several top artists/IPs (e.g. MOLLY by Kenny Wong, SKULLPANDA by Wang Xin) still account for a sizable share of revenue.
What to Watch
- Renewals and Royalty Terms: If Pop Mart fails to maintain strong relationships and fair revenue splits, popular IP could leave or reduce collaboration.
- Artist Satisfaction & Exclusivity: Creator turnover could disrupt the pipeline of new characters.
- IP Longevity vs. Fads: Even popular IPs can cool off without ongoing refresh. Pop Mart has tried to mitigate this with new product lines (e.g. plush, MEGA), but sustaining IP excitement over multiple years requires constant reinvention.  
Potential Acquisitions or Investments: Pop Mart set aside a significant portion of its IPO proceeds (HK$1.56 billion, ~27% of net proceeds) for possible upstream/downstream acquisitions or alliances. While it’s been fairly conservative so far, a sudden sizable acquisition could change the business mix and risk profile.

What to Watch
- Type of Targets: They might seek complementary IP studios, tech platforms (e-commerce, CRM, content), or even overseas toy retailers.
- Valuation Discipline: If Pop Mart’s management tries to buy growth in the U.S. or EU (where valuations can be high), it needs to be sure synergy is real.
- Timing: The 2024 annual report confirms no major acquisitions yet, so they still have that war chest. Keep an eye on official announcements – a major buy could accelerate overseas expansion or IP creation capacity

心誠則靈 : 3/26

吊花基金 : Unless there’s good news, which I don’t think there’s any until final financial quarter result of 2024 on March 20