泡泡玛特：新品发布与回购计划利好，评级 “首选买入”

Flash | 23 Jan 2026 02:31:09 ET │ 11 pages Pop Mart (9992.HK) Positive on New Product Release and Share Buyback; Top Buy CITI'S TAKE We reiterate our Buy rating on Pop Mart, expecting its breakthroughs in IP diversification, product innovation, and monetization in a wide range of fields to sustain growth in 2026. Its capability on IP vitality and incubation, in our view, has been undervalued. Investors' confidence may improve upon blockbuster release and popularity of non-LABUBU IPs (i.e. the new release of ...