China Consumer Pop Mart International Limited Rating Underperform Price Target 9992.HK 181.00 HKD (225.00 OLD) 26 January 2026 Melinda Hu +852 2123 2643 melinda.hu@bernsteinsg.com Kai Zhang +852 2123 2665 kai.zhang@bernsteinsg.com Frankie Fong +852 2123 2637 frankie.fong@bernsteinsg.com Pop Mart: 23% Rally on Tactical Catalysts; Downgrade Risk Remains - Social Media Tracking Indicating One-Off Impact Pop Mart shares rose by 22.96% over the past week in Hong Kong, with a sharp intraday spike around 20–23 Jan ...

Core Insights - Mattel has launched a new line of action figures for its upcoming live-action movie "Masters of the Universe" [1] - The company aims to replicate the success of its 2023 hit "Barbie" with this new product line [1] Company Strategy - The launch of the action figures is part of Mattel's strategy to leverage its film properties for merchandise sales [1] - The company is focusing on creating synergies between its film releases and toy lines to drive revenue growth [1] Industry Context - The toy industry is increasingly integrating with film and entertainment to boost sales and brand visibility [1] - Successful franchises like "Barbie" set a precedent for future product launches tied to movie releases [1]

©️深响原创 · 作者｜何理 2026刚开年，跨境电商便进入"高强度博弈"——合规与经营成本持续抬升，单纯依靠低价和铺量驱动增长的模式正在加速失效。这并非短期扰动，而是正 在构成跨境电商未来相当长一段时间的基本环境。 从市场侧看，美区依然是跨境品牌绕不开的核心战场。其意义早已不止于规模本身，更逐渐演变为品牌定价体系与全球化能力的"试金石"。 在这样的背景下，越来越多头部品牌及各家平台的大商家们都开始重新审视并选择自己的主阵地：如何在稳住生意基本盘、对冲不确定性的同时，持续获 得新增量？ 1月27日，TikTok Shop 美区跨境 POP 针对头部出海品牌、经销商以及跨境电商平台千万大商等"超级头部"商家召开私享会，发布「TOP 计划」，计划全 年投入亿级资源，为优质商家提供全链路激励扶持，并为"超级头部"商家提供更多资源和权益。显然，TikTok Shop释放了明确的利好信号——从商品、 内容、营销和服务等多个维度，进一步提升对头部品牌的长期支持力度，为增长提供更高确定性。 在出海新主场找准机会点：从内容力到增长力、品牌力 面对激烈的全球竞争，跨境品牌要想高效建立品牌认知、推动产品转化，曝光只是基础，更关键 ...

Core Viewpoint - Mattel, Inc. (MAT) has shown moderate performance over the past year with a gain of over 10% despite weak demand for toys due to low consumer spending on discretionary items [1] Company Performance - Mattel has managed to navigate the challenging market conditions relatively well, indicating resilience in its business model [1]

VANCOUVER, British Columbia--(BUSINESS WIRE)--Thunderbird Distribution and Thunderbird Brands, the distribution and consumer products arms of Thunderbird Entertainment Group Inc. (TSXV:TBRD, OTC – THBRF) ("Thunderbird†or the "Company†), are pleased to announce the appointment of Moose Toys as global master toy partner for Thunderbird acquisition BeddyByes, produced by JAM Media in Dublin, Ireland. Under the licensing agreement, Moose Toys will produce a multi-category preschool toy line includ. ...

Our take: 1) We estimate Twinkle Twinkle will account for >50% of Labubu sales in China in 2026, and the momentum of this new series is a clear signpost. 2) With proactive supply ramp, PPMT will better cater to the demand surge. Its faster restocking should smoothen the sales curve and effectively cap resale premium. It won't have to do long-dated pre-sale again, which is against its product lifecycle management. 3) G. China accounts for 55-60% of group sales; the market was undersupplied in 2H25. With popu ...

Mattel Inc introduced an autistic Barbie earlier this month as the newest member of its line intended to celebrate diversity, joining a collection that already includes Barbies with Down syndrome, a blind Barbie, a Barbie and a Ken with vitiligo, and other models the toymaker added to make its fashion dolls more inclusive.Mattel said it developed the autistic doll over more than 18 months in partnership with the Autistic Self Advocacy Network, a nonprofit organisation that advocates for the rights and bette ...

"很可爱，眼睛比较漂亮，还能跟我对话，像小宠物一样。"25岁的童童（化名）是"智能憨憨"的首批抢购者之一。"开售前10多分钟，我就蹲守，开售4秒 时成功下单。" 在这背后，一场互联网大厂争夺AI玩具赛道的"战争"正在上演。 溢价75% 第三方平台得物App显示，2025年12月3日，黄色款"智能憨憨"成交价最高上涨至699元，溢价一度高达300元，溢价幅度75%，但仍一货难求。随着华为多 次补货，"智能憨憨"的市场价有所回落，降至500元以下。 "智能憨憨"是华为推出的首款AI陪伴型产品，这款399元的毛绒玩具开售即秒售罄，官方渠道持续缺货。 | | | | הגדה החמ | | --- | --- | --- | --- | | ** 得* | 黄色 官方标配 | ¥459 | 82小时前 | | | 黄色 官方标配 | ¥459 | 82小时前 | | | 黄色 官方标配 | *459 | 82小时前 | | | 黄色 官方标配 | ¥449 | 5天前 | | ++ | 黄色 官方标配 | ¥459 | 10天前 | | 得* | 黄色 官方标配 | ¥469 | 12天前 | | | 黄色 官方标 ...

case for the moment. Let's get right to the floor show. Joining me now, Goldman Sachs Asset Management Fundamental Equity Managing Director, Greg Tuorto.Greg, um, new tariffs off the table. So, the markets moved on that the markets are moving on data. What are you watching that says to you this is a time to go long US stocks.>> Thanks for having me, Liz. Uh, you know, I think that there's a, you know, a slightly new paradigm in place, you know, where you have a a reflation of a lot of the cyclical sectors i ...

扬子晚报网1月21日讯(记者高峰)化身成为听你倾诉的"姐姐"、陪你玩的"哥哥"、陪写作业不炸毛的"妈妈"、随时有空讲故事的"爸爸"，甚至是全天候陪伴 的"宠物狗"……1月20日，京东在宿迁举办的AI玩具大会成果展上，多款针对儿童交互场景的AI玩具，吸引了与会嘉宾的目光。 会上，京东依托JoyAI大模型，正式发布了专为智能硬件终端打造的JoyInside软硬一体化解决方案，适配多硬件、多场景、多尺寸，具备超高兼容性，为 行业伙伴提供从技术底层到产品落地的全链路支持。目前，JoyInside已接入超过40家头部品牌，带动终端交互轮次提升120%。 据京东会展有关人士介绍，这些硬件方案可应用于IoT设备、机器人、毛绒玩具、早教机等硬件终端，支持Wi-Fi/蓝牙/4G等多种连接方式，并通过了相关 认证。JoyInside还面向品牌提供定制化硬件，更适配个性化需求，方便合作伙伴快速集成，推出新品面市。此外，JoyInside还为品牌提供全生命周期支 持，从用户洞察、产品共创，到技术集成、体验评测，与品牌方联合打造爆款。 JoyInside与京东京造联合打造的第二批AI玩具也随之上线，新开发了针对年轻人和老年人的AI玩具 ...