冲击历史新高，外资大行称潮玩龙头仍被低估，谷子经济或成新消费核心引擎

Group 1 - The stock of Pop Mart surged nearly 9% on August 6, approaching a historical high of 283.4 yuan, closing with a gain of 7.09% at 275 yuan. Morgan Stanley analysts maintained an "overweight" rating, emphasizing that the market undervalues the platform's potential [1] - Recent years have seen Pop Mart expand IPs like Labubu into international markets, sparking global demand. The user base for China's pan-2D market is growing, with projections indicating a market size of 597.7 billion yuan by 2024, and the "Guzi economy" market expected to reach 168.9 billion yuan in 2024, a 40.6% increase from 2023 [1] - The "Guzi economy" is driven by changing consumer demands and the rise of domestic IPs, reshaping consumption and enhancing offline ecosystems, positioning it as a core engine for new consumption in China [1] Group 2 - By early 2025, around 60 core business districts in first- and second-tier cities are focusing on creating 2D consumption landmarks, with traditional malls undergoing "dimensional" transformations to boost foot traffic. For instance, a historic mall in Shanghai has transformed into a 2D-themed commercial entity, with a nearly 300% increase in sales on opening day and foot traffic reaching 53,000 [2] - Yuanlong Yatu has engaged in business cooperation with Pop Mart on brand marketing projects, providing comprehensive marketing and IP cultural products and services for B-end clients and C-end consumers [3] - Yidian Tianxia considers Pop Mart an important client, with a friendly business relationship established between the two companies [4]