Ge Long Hui·2026-02-09 03:04Core Viewpoint - Morgan Stanley's report indicates that the strong popularity of Pop Mart's new IP products, Twinkle Twinkle and Skullpanda, will continue to drive the operation of its IP products [1] Group 1: Product Development and Collaborations - The report suggests that Pop Mart will see more surprises in product design this year [1] - Collaborations between Pop Mart's IP products Labubu and Moynat, along with the news that a Labubu movie will be produced by Sony Pictures, highlight the increasing cultural influence of Pop Mart [1] - The addition of the CEO of LVMH's China division to the company's board reflects recognition from top industry leaders [1] Group 2: Marketing and Sales Potential - Morgan Stanley believes that Pop Mart has secured more effective marketing resources for its upcoming new products, which is crucial for enhancing the popularity of its IP [1] - The target price for Pop Mart is set at HKD 325, with a rating of "Overweight," indicating potential for valuation reassessment as sales momentum continues in both Chinese and overseas markets [1] - The expansion of product lines and new IP-centered initiatives are expected to contribute positively to the company's growth [1]