中信里昂：升泡泡玛特(09992)目标至318港元 维持“跑赢大市”评级

Group 1 - Citic Securities raised the target price for Pop Mart (09992) by 6% from HKD 300 to HKD 318, maintaining an "outperform" rating [1] - The report highlights the strong demand for emerging IPs such as Twinkle Twinkle, Crybaby, and KeyA, observed during the Beijing Pop Toy Expo held in August [1] - The company is expected to benefit from significant year-on-year growth in both domestic and overseas markets, with increases of 113% and 412% respectively, and anticipates a 202% year-on-year sales growth in the first half of 2025 [1]