泡泡玛特股价再刷历史新高！海外业务爆发式增长推动业绩超预期
4月2日，泡泡玛特股价再刷历史新高，该股年初至今累涨85%！海外业务爆发式增长推动业绩超预期。
近日，泡泡玛特披露2024年业绩。交银国际认为，泡泡玛特去年财务表现超预期，收入同比增106.9%，毛利率提升至66.8%，净利润率25.4%。派息比率35%，与2023年保持一致。该行指出，泡泡玛特中国内地市场收入同比增52.3%。其中，线下渠道收入增长41%，零售店和机器人商店均延续高速增长，分别同比增44%及26%;线上渠道同比增77%。海外市场同比大幅上升375.2%。东南亚和北美市场表现尤为强劲，分别呈6倍及5倍的增长。
东兴证券发布研报称，随着影响力的扩大，复购需求叠加发力tiktok平台，泡泡玛特海外线上爆发式增长，线上占比攀升，线上线下综合布局初步实现。分市场看，东南亚/东亚及港澳台/北美/欧澳地区收入为24.0/13.9/7.2/5.5亿元，同比+619%/+185%/+557%/+311%。公司已在亚洲已实现较高收入，持续推进;欧美市场实现初步入局，仍有较大的发展空间。该行推测今年公司将重点发力北美市场，开店+IP 本地化有望快速扩大当地影响力。考虑到欧美消费力更强，看好欧美澳市场拓展将助力公司海外业务持续高速增长。另外公司境外业务已显现规模效应，毛利率同比大幅提升8.3pct 至71.3%。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10