Ge Long Hui·2026-01-14 03:57Core Viewpoint - Bank of America Securities projects multiple growth drivers for Pop Mart by 2026, including significant monetization potential for existing IPs and the introduction of new variants of popular IPs [1] Group 1: Growth Drivers - Existing IPs like the Monsters series have substantial upside potential, with plans to further monetize them and globalize IPs such as Skullpanda and Hirono [1] - New IP launches are expected to regain momentum this year, particularly those targeting overseas markets [1] Group 2: Financial Outlook - The firm anticipates improved visibility for Pop Mart by the time of the March earnings announcement, which may trigger a revaluation of the company [1] - A "buy" rating is maintained with a target price set at 300 HKD [1] Group 3: Market Expansion - Pop Mart's global recognition from last year is expected to lead to strategic partnerships with more well-known global consumer brands [1] - Sales growth in regions outside of China, including other parts of Asia, the United States, and Europe, is projected to surpass that of China, with overseas sales expected to account for over 50% of total sales [1]