泡泡玛特(9992.HK)2025Q1经营点评:2025Q1收入超预期 IP、品类、渠道共振

国海证券
Apr 24

事件:2025 年4 月22 日,公司公告2025Q1 经营情况,预计2025Q1 整体收入同比增长165%-170%,其中中国(含港澳台地区)收入同比增长95%-100%,海外收入同比增长475%-480%。投资要点:美洲/欧洲地区收入高增,美国已实现提价以应对关税。(1)海外亚太地区、美洲、欧洲同比增长345%-350%、895%-900%、600%-605%。①线下:截至4 月22 日,海外...

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