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[Brokerage Focus] Huachuang Securities maintains a "recommended" rating on Pop Mart (09992), bullish on its overseas store expansion and store efficiency improvement driving performance growth.
Jingwu Financial News | Huachuang Securities issued a research report, stating that Pop Mart (09992) achieved a revenue of 4.56 billion yuan in the first half of the year, a year-on-year growth of 62.0%; net income of 0.96 billion yuan, a year-on-year growth of 102.0%, both exceeding the previous performance forecast. The bank pointed out that the company's gross margin in 24H1 was 64.0%, a year-on-year increase of 3.6 percentage points, mainly due to continuous optimization of the company's supply chain, a decrease in the proportion of externally sourced products, and an increase in the proportion of high gross margin overseas product sales. On the cost side, the company achieved a sales/management expense ratio of 29.7%/9.5%, a year-on-year decrease of 1.5/-2.2 percentage points, mainly due to the company's reduction in employee
Huachuang Securities: Maintains a "recommended" rating on Pop Mart (09992) with a target price of 56.2 Hong Kong dollars
Huachuan Securities is bullish on the performance growth brought by the expansion of Pop Mart's overseas stores and the improvement of store efficiency.
CICC: The differentiation in the retail sector continues to intensify, and the prosperity of trendy play further increases.
The performance differentiation between retail sectors continued to intensify in the first half of the year, with the trendy consumer sector benefiting from the self-enjoyment consumer demand and brand globalization drive. The Q2 economic sentiment further improved, and leading companies achieved better-than-expected growth both domestically and overseas.
Hong Kong stocks are fluctuating, with Pop Mart (09992) rising more than 3%. Its overseas business is in a rapid development phase and is expected to support long-term growth.
Pop Mart (09992) rose by over 3% again, as of the time of publication, increased by 2.82%, to HKD 49.25, with a turnover of 0.148 billion Hong Kong dollars.
Exploring the artistic expression of trendy IP, Pop Mart (09992) collaborates with Anaya to launch the "Hidden in the Wild" art co-creation project.
Recently, pop mart (09992) has collaborated with Anaya to launch the 'Hidden in the Wild' art collaboration project, attracting the attention of many visitors through art installations, flash mobs, and video art exhibitions.
zheshang Securities: Light industry white horse value highlights, select high-quality emerging domestic products, enjoy self-growth by going overseas.
Looking at the performance of the sub-industries in the light industry in Q2 2024, home furnishings and papermaking, which are related to the domestic demand economy, performed weakly, while some high-quality assets in the individual growth stage performed above expectations.
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