Sou Hu Cai Jing·2025-04-30 01:07Core Viewpoint - Pop Mart has achieved significant success in the U.S. market, with its app reaching the top of the App Store shopping chart, indicating strong demand for its products and a potential for further growth in overseas markets [2][4]. Group 1: App Performance and Market Impact - On April 25, Pop Mart's app topped the U.S. App Store shopping chart for the first time, reaching the fourth position on the overall free app chart, and later maintained the first position on April 26 before dropping to sixth on April 27 [2][4]. - Following this achievement, Pop Mart's stock price surged by over 13% to a record high of 195 HKD per share, closing at 193 HKD, marking a year-to-date increase of 115.28% [4][10]. Group 2: Product Launch and Consumer Response - The app's success is closely linked to the recent launch of the LABUBU 3.0 series, which sold out quickly and generated significant buzz on social media, indicating strong consumer interest both domestically and internationally [4][5]. - The LABUBU series has become a key revenue driver, with the IP series generating 30.4 billion CNY in revenue, a year-on-year increase of 726.6% [7]. Group 3: International Expansion and Revenue Growth - Pop Mart's overseas revenue is projected to grow by 475% to 480%, significantly exceeding previous forecasts, with the Asia-Pacific market seeing a 345%-350% increase and the Americas experiencing an impressive 895%-900% growth [8][9]. - The company has expanded its international presence, with the number of overseas stores increasing from 43 in 2022 to 130 by the end of 2024, contributing to nearly 40% of total revenue [9]. Group 4: Future Outlook and Analyst Predictions - Analysts have raised their earnings forecasts for Pop Mart for 2025-2027 by 14% to 17%, with a target price adjustment from 132 HKD to 151 HKD per share, reflecting confidence in the company's growth trajectory [10]. - The successful penetration into Western markets is seen as a significant milestone for a Chinese toy company, with expectations for continued strong performance in the second quarter [10].