港股上市公司泡泡玛特（09992.HK）周五盘中出现大幅下跌，跌幅高达5.16%，引发市场广泛关注。这一跌势与该公司近期发布的强劲财务数据形成鲜明对比，令投资者感到意外。
就在本周早些时候，泡泡玛特公布了2025年第一季度的初步财务数据，显示公司总收入同比大幅增长165%至170%。其中，中国市场（包括港澳台）收入增长95%至100%，海外市场收入更是激增475%至480%。受此利好消息影响，公司股价曾一度大涨近7%。中金公司随后上调了泡泡玛特的目标价，从原来的170港元大幅提升29%至220港元，并维持"跑赢行业"评级。
然而，尽管基本面向好，泡泡玛特股价仍出现大幅回调。分析人士认为，这可能由于以下几个原因：首先，获利回吐压力显现。数据显示，过去一年泡泡玛特股价累计上涨高达425.8%，如此巨大的涨幅不可避免地引发了投资者的获利了结需求。其次，市场可能对公司海外业务近900%的惊人增速的可持续性产生质疑，担心如此高速增长难以长期维持。最后，近期南向资金对泡泡玛特的持续增持也可能加剧了获利回吐的压力。市场人士提醒，投资者需警惕短期内的大幅波动风险，同时关注公司长期发展前景及增长的可持续性。
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