Ge Long Hui·2026-02-09 04:16Core Viewpoint - Morgan Stanley's report highlights the strong popularity of Pop Mart's new IP products, Twinkle Twinkle and Skullpanda, which will continue to drive the operation of its IP products [1] Group 1: Product Development and Collaborations - The report anticipates more surprises in product design from Pop Mart this year [1] - Collaborations between Pop Mart's IP products Labubu and Moynat are noted, with Labubu's movie being produced by Sony Pictures [1] - The addition of LVMH's China CEO to the company's board indicates increasing recognition of Pop Mart's cultural influence by top industry leaders [1] Group 2: Marketing and Sales Potential - The company is believed to have secured more effective marketing resources for its upcoming new products, which is crucial for enhancing the popularity of its IP [1] - Morgan Stanley sets a target price of HKD 325 for Pop Mart, maintaining an "Overweight" rating, citing sustained sales momentum in both Chinese and overseas markets [1] - The expansion of product lines and new IP-centered initiatives may lead to a revaluation of the company's stock [1]