【中金：泡泡玛特(09992.HK)首季度国内外收入增长均胜预期 升目标价29%至220港元】金十数据4月25日讯，中金发表研报指，泡泡玛特(09992.HK)2025财年第一季预计收入按年增长165%至170%，增速按季比较进一步提升。当中，中国(包括港澳台)收入按年增长95%至100%；海外市场收入按年增长475%至480%，均超越该行及市场预期，主要由于中国国内同店表现优秀，以及海外热度高企。中金提及，考虑到公司重点IP优质新品储备丰富、北美市场热度持续走高，故分别上调2025及2026财年经调整净利润预测10%及8%，至分别64亿及79.2亿元人民币，同时上调目标价29%至220港元，相当于预测今明两年经调整市盈率分别44倍及35倍，给予“跑赢行业”评级。
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