花旗：泡泡玛特或将继续受益于知识产权孵化和运营 维持对该股的买入评级并上调目标价

Core Viewpoint - Citi's report indicates that Pop Mart is expected to continue benefiting from its IP incubation and operations, with the long-standing debate about the popularity of "Labubu" likely resolved by the company's strong performance in new product launches [1] Group 1: IP and Product Launches - The mini "Labubu" is set to debut this week, which Citi predicts will further enhance the global popularity of the IP [1] - Citi anticipates that the commercial value of "Labubu" will have opportunities to extend beyond the collectible toy sector in the long term [1] Group 2: Stock Rating and Price Target - Citi maintains a buy rating on the stock and has raised the target price from HKD 384.50 to HKD 398.00 [1]