泡泡玛特出海欧洲，Labubu火了，但难题也来了。 据追风交易台消息，6月11日，在高盛最新研报中，一位拥有20年欧洲玩具市场经验、现为泡泡玛特分 销商的行业专家，分享了他对欧洲潮玩市场的观察。 专家表示，欧洲潮玩市场约在十年前起步，如今正快速增长，泡泡玛特正好搭上了这趟顺风车，其中最 火IP毫无疑问是Labubu。 泡泡玛特最初在欧洲是通过亚裔社群传播开来的，但在明星、TikTok网红宣传和门店开设的推动下，已 经受到欧洲本地年轻人欢迎，目前主要消费人群是15至25岁的女性。 不过，专家也提醒，爆红很快，守住更难。泡泡玛特眼下面临的最大挑战就是供应不足，这不仅会让消 费者和分销商体验变差，还可能导致假货滋生、被竞品趁虚而入。 从行业逻辑来看，潮玩本质上是一个"供给驱动"的市场，持续的产品创新是推动增长的核心动力。尽管 泡泡玛特在IP矩阵扩展上表现出色，但如果想持续发力，不仅需要持续"上新"，还需在内容生态建设上 加大投入，才能与用户建立更深层次的情感连接。 毕竟，一个IP如果背后有故事、有影视、有书籍支撑，就更容易让用户长期入坑，从而延长IP的生命周 期。 目前，高盛对泡泡玛特的评级为"中性"，并给予其12 ...

信达证券发研报指，Letsvan专注于全球艺术家的IP 孵化、运营、版权商业化以及潮玩文化的推广与销 售，已构建以"WAKUKU"、"又梨 ZIYULI"等爆款IP为核心的产品矩阵，国内市场实现线上线下全渠道 覆盖，同时开启东南亚市场拓展。2025年5月17日，公司重要新品"WAKUKU 狐狐兔兔 CP"在名创优品 MINISO线下开启发售，5月20日开启线上多渠道发售，有望给公司IP业务带来增长。 此外，量子之歌6月6日盘前公布截至3月31日的2025财年第三季度业绩，期内实现营收约5.71亿元(人民 币，下同)，净利润约4114万元，连续八个季度实现盈利。量子之歌集团创始人、董事长李鹏表示，该 季度公司战略转型成果初步显现，在优化业务结构、提升运营效率的同时，打造潮玩业务发展增量。未 来，公司在稳步夯实'内容+服务'的在线学习基本盘基础上，持续以潮玩IP为核心发力点。绩后，花旗 集团将量子之歌评级从中立上调至买入，目标价从6.10美元上调至9.52美元。(格隆汇) 格隆汇6月12日｜谷子经济爆火带动港股泡泡玛特屡创新高的同时，美股中概股量子之歌(QSG.US)也迎 来连日大涨。该股昨日大幅收涨30.52% ...

Wind数据显示，截至昨日（6月11日），该产品规模达到6.58亿元，创下成立以来新高，自4月11日 （3.97亿元）以来的两个月里，增幅高达65.7%；相较年初，其规模则增长了近3倍。 资料显示，中证港股通消费主题指数从港股通范围内选取流动性较好、市值较大的50只消费主题相关股 票作为指数样本，指数行业覆盖广泛，包括食品饮料、家电、汽车、医美、潮玩等新兴赛道，布局阿 里、腾讯、小米等港股稀缺标的，同时布局泡泡玛特、百胜中国等新消费代表企业，与A股消费板块形 成互补。 新消费风口正在获得公募资金关注。据Wind数据，截至2025年一季度末，"新消费"龙头股泡泡玛特共 获得270只基金重仓，持股总量达6874.75万股，持股总市值达99.3亿元。而在2024年一季度末，仅有36 只基金重仓泡泡玛特。 6月12日，港股泡泡玛特早间一度涨近5%，续创历史新高，不过后续震荡回落，收跌1.11%。受泡泡玛 特及其他收跌成分股影响，中证港股通消费指数当日下跌2.49%。 对看好新消费的投资者来说，短期回调或许也是布局机会。 值得注意的是，跟踪该指数的港股消费ETF易方达（513070，联接基金A/C：018103/018 ...

泡泡玛特带火"潮玩"！一图看懂相关概念股 智通财经6月12日电，近期，"潮玩"概念龙头股泡泡玛特股价连创新高，其"火爆"行情也"燃"到A股市场，谷子经 济概念成为投资者热议话题。 若放眼A股市场, 其总市值 (约合人民币3315亿元) 也已跻 身前40名,规模超过寒武纪、格力电器、迈瑞医疗等股,并 直逼东方财富。 | 证券代码 | 证券简称 | 总市值 | 申万行业 | | --- | --- | --- | --- | | | | (亿元) | | | 601899.SH | 紫金矿业 | 4886 | 有色金属 | | 000858.SZ | 五粮液 | 4840 | 食品饮料 | | 601998.SH | 中信银行 | 4433 | 银行 | | 601138.SH | 工业富联 | 4051 | 电子 | | 688981.SH | 中芯国际 | 3934 | 电子 | | 600030.SH | 中信证券 | 3754 | 非银金融 | | 600000.SH | 浦发银行 | 3625 | 银行 | | 600276.SH | 恒瑞医药 | 3610 | 矢药生物 | | 601319.SH | ...

Core Insights - A plastic toy sold for 1.08 million yuan reflects the ambition of Chinese companies to reshape the global trend toy market through "emotional consumption" [2] - Wang Ning, founder of Pop Mart, recently became the richest person in Henan with a net worth of $20.3 billion, as the company's market capitalization approaches 400 billion HKD [3][5] - Pop Mart's rapid growth story includes its establishment in 2010 and successful IPO in 2020, achieving in a decade what traditional trend toy companies took decades to accomplish [3][5] Financial Performance - In 2022, Pop Mart faced its first "dark moment" post-IPO, with revenue of 4.617 billion yuan, a slight increase of 2.82% year-on-year, while operating profit dropped by 49.3% to 583 million yuan [7][8] - The company's net profit attributable to shareholders fell by 44.3% to 476 million yuan in 2022 [7][8] - In 2024, Pop Mart's total revenue reached 13.038 billion yuan, with a significant increase in overseas revenue, which surged by 375.2% to 5.07 billion yuan, accounting for 38.9% of total revenue [15][21] Product and IP Strategy - Pop Mart has restructured its IP matrix, reducing reliance on the Molly IP, which previously contributed nearly 30% of revenue, to a more diversified portfolio with 50% self-owned IPs [10][12] - The LABUBU IP, created by artist Kasing Lung, generated 3.04 billion yuan in revenue in the previous year, marking a 726.6% increase and becoming the top revenue-generating IP for Pop Mart [12] - The company has expanded its product offerings beyond blind boxes to include plush toys, with plush revenue skyrocketing by 1289% to 2.83 billion yuan in 2024 [18] Global Expansion - Pop Mart's overseas sales growth has been remarkable, with sales in the Americas increasing by 895% to 900% and over 600% in Europe [16] - The company has adopted a "global localization" strategy, tailoring store designs and product offerings to local cultures, which has proven effective in various international markets [15] Challenges and Risks - Despite the success of LABUBU, Pop Mart faces risks related to over-reliance on top IPs, as the lifecycle of IPs is short and the success rate of new products can be unpredictable [20] - The financialization of products may harm brand value, as seen with the speculative pricing of hidden LABUBU figures [20] - The company also faces potential challenges in overseas markets, including policy stability and supply chain issues, particularly in Southeast Asia [20]

Group 1 - The LABUBU vinyl toy series from Pop Mart has gained significant popularity, with a unique mint-colored LABUBU selling for 1.08 million yuan at the Yongle 2025 Spring Auction [1] - There is a growing anticipation for the opening of a Pop Mart flagship store in Hefei, as indicated by a large promotional banner at a local shopping mall [3] - The Hefei flagship store is expected to be the largest in the city and is set to open in July, featuring a design that includes interactive experience areas and limited edition products [3] Group 2 - Currently, there are five Pop Mart stores in Hefei, strategically located in major shopping districts and subway stations, including robot-operated stores [3] - The flagship store is part of Pop Mart's strategy to establish landmark stores globally, typically around 500 square meters in size, focusing on stylized designs and exclusive product releases [3] - Social media buzz indicates that residents are eager to know if the Hefei store will offer city-exclusive items and the sought-after LABUBU vinyl toys [3]

09:57 6月12日周四，A股震荡盘整，沪指小幅下跌，创业板拉升走高，光模块（CPO）、光芯片等活跃，多元金融拉升。 港股恒指、恒科指低开低走，生物医药股反弹，新消费三宝走高，地平线机器人跌超4%。债市方面，国债期货早盘 集体下跌。核心市场走势： | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | M | 3398.94 | -3.38 | -0.10% | | 399001 | 深证成指 | | 10223.73 | -22.29 | -0.22% | | 399006 | 创业板指 | my | 2064.82 | 2.95 | 0.14% | | 000300 | 沪深300 | | 3885.09 | -9.53 | -0.24% | | 000016 | FJF50 | | 2685.06 | -7.07 | -0.26% | | 000680 | 科创综指 | My | 1188.78 | 0.47 | 0.04% | | 000688 | 科 원 20 | | 977 ...

港股泡泡玛特盘中涨超4%，最高触及283.4港元，再创新高。 ...

港股泡泡玛特(09992.HK)盘初延续强势涨超4%，再度刷新历史新高。 ...

泡泡玛特（HK.09992，股价269.80港元，市值3623.3亿港元）LABUBU正在继续创造奇迹。 6月10日，在"永乐2025春季拍卖会"上，一款显示为初代藏品级薄荷色的LABUBU最终以108万元的价格 完成竞拍。除此之外，一款全球限量15版棕色LABUBU以82万元成交。 频繁的拍卖正在国内外上演，超火的LABUBU直接将泡泡玛特创始人王宁推上了河南新首富的位置。 泡泡玛特成功的品牌秘诀是什么？中央财经大学金融品牌研究所所长王晓乐接受《每日经济新闻》记者 采访时表示，LABUBU是当下"悦己经济"的代表。 品牌专家、瞻胜传播创始合伙人庞瑞认为，泡泡玛特在IP（具有商业价值的创意内容或品牌）塑造上另 辟蹊径，泡泡玛特核心业务是IP经营，娃娃则是其"艺人"。不过，他提醒，市场对稀缺性的炒作可能让 潮玩变成"金融泡沫"。 市场对稀缺性的炒作，可能让潮玩变成"金融泡沫" 其实，早在2016年7月，泡泡玛特就推出星座系列、运动系列的Molly，单个售价59元，700多元一套， 上线秒空。随后，在北京三里屯开张的新店，新系列Molly20多天销售量超8万个，销售额近500万元。 今年以来，泡泡玛特和《哪吒2》 ...