Xin Lang Cai Jing·2026-02-08 04:37Core Viewpoint - The recent annual meeting of Pop Mart highlighted ambitious growth targets for 2025, including a significant increase in global employees and product sales, while emphasizing the importance of art and culture in a rapidly changing world [1][3]. Group 1: Company Growth and Expansion - By 2025, Pop Mart aims to have over 10,000 global employees and more than 100 million registered members, with LABUBU's annual sales projected to exceed 100 million units and total product sales across all categories to surpass 400 million units [1][3]. - The company plans to establish its European headquarters in London and open seven new stores in the UK, including locations in Birmingham, Cardiff, and Oxford Street, with a total of 20 new stores planned across Europe, creating over 150 jobs [2][4]. Group 2: Product Performance and Market Response - Recent product launches, including the PUCKY Knock Knock series and the Starry People series, have seen significant market success, with reports of sold-out items and substantial price premiums on secondary markets [2][4]. - The hidden variants of the PUCKY Knock Knock series and Starry People series are experiencing price premiums of 2-3 times and 3-6 times, respectively, while regular variants are seeing premiums between 70% and 200% [2][4]. Group 3: Investor Sentiment and Market Valuation - Citigroup believes that the market has undervalued Pop Mart's IP vitality and incubation capabilities, suggesting that investor confidence may rise with the successful launch of new products and the initiation of a share buyback plan [2][4]. - Guosen Securities notes the recent trends indicating strong demand for new products, which could enhance the company's IP potential during the upcoming holiday season [2][4].