布鲁可:卡游交表催化IP潮玩板块 布鲁可BFC体系升级

天风证券
24 Apr

卡游交表新消费阵营扩容卡游上周更新招股书继续推进IPO,24 年营收超100 亿,2022-2024 年CAGR达56%;24 年调后利润45 亿,2022-2024 年CAGR66%成长惊艳;我们预计系小马宝莉表现靓丽及卡牌以外(占比同比+4.2pct 至13.4%)收入增长。卡游现有70 个IP 矩阵,包括小马宝莉/奥特曼/叶罗丽等;现有217 个经销商,覆盖全国;目前拥有3 个在营生产基地,...

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