异动解读 | 泡泡玛特盘中大跌5.06%,疑与股东增发授权有关

异动解读
May 28, 2025

5月28日盘中,泡泡玛特(09992.HK)股价出现大幅下跌,跌幅达5.06%。该股走势异常引发市场关注。

消息面上,泡泡玛特近日召开股东周年大会,通过了授予董事发行授权,以配发、发行及处理不超过公司已发行股份数目20%的公司额外股份的议案。尽管该议案最终获得通过,但有超过19%的投票反对,显示部分投资者对公司潜在的股权稀释存有顾虑。这可能是导致股价下跌的主要原因之一。

此外,市场对泡泡玛特的估值也存在争议。尽管公司业绩增长强劲,2024年营收达130.4亿元,同比增长106.9%,但当前90倍的市盈率仍被认为较高。部分投资者可能认为股价已充分反映公司增长预期,从而选择获利了结。值得注意的是,泡泡玛特今年以来股价涨幅已超160%,总市值一度突破3100亿港元,短期调整压力较大。

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